v3.25.2
GOODWILL AND INTANGIBLES, NET
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLES, NET

NOTE 5 – GOODWILL AND INTANGIBLES, NET

 

The changes in the carrying amount of the Company’s goodwill were as follows:

  

   Total 
Balance as of December 31, 2023  $3,601,781 
Acquisitions   - 
Balance as of December 31, 2024   3,601,781 
Acquisitions   - 
Balance as of June 30, 2025  $3,601,781 

 

In connection with the change in reportable operating segments in the second quarter of 2024, the Company reassessed goodwill as the segments are presented in this report. Goodwill was recorded in connection with the acquisition of Scendia and is included entirely within the Sanara Surgical segment. The Company’s assessment determined that these changes, or any other matters noted, did not alter the Company’s conclusion that goodwill was not impaired as of June 30, 2025 or 2024.

 

The carrying values of the Company’s intangible assets were as follows for the periods presented:

  

   June 30, 2025   December 31, 2024 
   Cost   Accumulated
Amortization		   Net   Cost   Accumulated
Amortization		   Net 
Amortizable Intangible Assets:                              
Patents and Other IP  $38,056,240   $(6,171,366)  $31,884,874   $38,009,240   $(5,008,856)  $33,000,384 
Customer relationships and other   7,971,752    (3,594,886)   4,376,866    7,948,299    (3,007,118)   4,941,181 
Licenses   6,784,278    (2,053,450)   4,730,828    4,793,879    (1,728,668)   3,065,211 
Total  $52,812,270   $(11,819,702)  $40,992,568   $50,751,418   $(9,744,642)  $41,006,776 

 

As of June 30, 2025, the weighted-average amortization period for finite-lived intangible assets was 14.2 years. Amortization expense related to intangible assets was $1,068,881 and $972,206 for the three months ended June 30, 2025 and 2024, respectively, and $2,147,033 and $1,944,657 for the six months ended June 30, 2025 and 2024, respectively. The estimated remaining amortization expense as of June 30, 2025 for finite-lived intangible assets is as follows:

  

      
Remainder of 2025  $2,152,407 
2026   4,298,512 
2027   4,192,483 
2028   4,142,043 
2029   3,630,972 
2030   2,703,045 
Thereafter   19,873,106 
Total  $40,992,568