Note 5. Intangible Assets

During the year ended December 31, 2025, the Company determined that impairment indicators were present due to the Company’s sustained decrease in stock price and sustained negative cash flows and operating losses. The Company evaluated both of its long-lived asset groups for impairment. While the LockeT asset group was deemed to be recoverable, the Company concluded that the VIVO asset group was not recoverable. Based on the results of the impairment analysis, in which the fair value of the VIVO asset group was determined using a discounted cash flow model, the Company recorded an impairment charge of approximately $7.0 million related to the VIVO developed technology and trademarks. This charge was recorded to loss on impairment of intangible assets in the consolidated statements of operations. 

The following table summarizes the Company’s intangible assets as of  December 31, 2025 (in thousands):

The following table summarizes the Company’s intangible assets as of  December 31, 2024 (in thousands):

The estimated future amortization expense for the next five years and thereafter is as follows (in thousands):

The Company uses the straight-line method to determine amortization expense for its definite lived intangible assets. Amortization expense, included within selling, general and administrative expenses in the consolidated statements of operations, for the Company's intangible assets was $2.0 million for the years ended  December 31, 2025 and 2024, respectively.