| Intangible Asset [Text Block] |
Note 6. Goodwill and Other Intangible Assets
The Company's carrying amount of goodwill in the condensed consolidated balance sheet as of March 31, 2026 represents the excess fair value of the consideration transferred over the fair value of the identifiable net assets acquired and liabilities assumed in the acquisition of FLYTE. See Note 3, Business Combinations, for additional information.
The following table summarizes the Company’s intangible assets as of March 31, 2026 (in thousands):
| | | Estimated | | | | | | | | | | | | | |
| | | Useful Life | | | Gross Carrying | | | Accumulated | | | Net Carrying | |
| | | ( Years) | | | Amount | | | Amortization | | | Value | |
| Amortized intangible assets: | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cardiac electrophysiology segment | | | | | | | | | | | | | | | | |
| Developed technology ‐ VIVO | | | 10 | | | $ | 170 | | | $ | (4 | ) | | $ | 166 | |
| Developed technology ‐ LockeT | | | 14 | | | | 18,770 | | | | (4,357 | ) | | | 14,413 | |
| Customer relationships | | | 6 | | | | 62 | | | | (34 | ) | | | 28 | |
| Trademarks/trade names ‐ VIVO | | | 10 | | | | 14 | | | | — | | | | 14 | |
| Trademarks/trade names ‐ LockeT | | | 9 | | | | 409 | | | | (148 | ) | | | 261 | |
| | | | | | | $ | 19,425 | | | $ | (4,543 | ) | | $ | 14,882 | |
| Private aviation segment | | | | | | | | | | | | | | | | |
| Licensing agreements/ vendor and supplier contracts | | | 5 | | | | 300 | | | | (4 | ) | | | 296 | |
| Applications | | | 5 | | | | 400 | | | | (6 | ) | | | 394 | |
| Technology | | | 10 | | | | 1,000 | | | | (7 | ) | | | 993 | |
| Trademarks/ trade names | | | 15 | | | | 1,250 | | | | (6 | ) | | | 1,244 | |
| Customer list/ relationships | | | 15 | | | | 3,000 | | | | (14 | ) | | | 2,986 | |
| | | | | | | $ | 5,950 | | | $ | (37 | ) | | $ | 5,913 | |
| | | | | | | $ | 25,375 | | | $ | (4,580 | ) | | $ | 20,795 | |
| Indefinite life intangible assets: | | | | | | | | | | | | | | | | |
| Private aviation segment | | | | | | | | | | | | | | | | |
| Goodwill | | | — | | | | 9,725 | | | | — | | | | 9,725 | |
| FAA Part 135 Operating Certificate | | | — | | | | 1,500 | | | | — | | | | 1,500 | |
| | | | | | | | | | | | | | | | | |
| Total | | | | | | $ | 36,600 | | | $ | (4,580 | ) | | $ | 32,020 | |
The following table summarizes the Company’s intangible assets as of December 31, 2025 (in thousands):
| | | Estimated | | | | | | | | | | | | | |
| | | Useful Life | | | Gross Carrying | | | Accumulated | | | Net Carrying | |
| | | ( Years) | | | Amount | | | Amortization | | | Value | |
| Amortized intangible assets: | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cardiac electrophysiology segment | | | | | | | | | | | | | | | | |
| Developed technology ‐ VIVO | | | 15 | | | $ | 170 | | | $ | — | | | $ | 170 | |
| Developed technology ‐ LockeT | | | 14 | | | | 18,770 | | | | (4,022 | ) | | | 14,748 | |
| Customer relationships | | | 6 | | | | 62 | | | | (31 | ) | | | 31 | |
| Trademarks/trade names ‐ VIVO | | | 9 | | | | 14 | | | | — | | | | 14 | |
| Trademarks/trade names ‐ LockeT | | | 9 | | | | 409 | | | | (136 | ) | | | 273 | |
| | | | | | | $ | 19,425 | | | $ | (4,189 | ) | | $ | 15,236 | |
The estimated future amortization expense for the next five years and thereafter is as follows (in thousands):
| | | Future | |
| | | Amortization | |
| Years ending December 31, | | Expense | |
| Remainder of 2026 | | $ | 1,454 | |
| 2027 | | | 1,938 | |
| 2028 | | | 1,938 | |
| 2029 | | | 1,928 | |
| 2030 | | | 1,928 | |
| Thereafter | | | 11,610 | |
| Total | | $ | 20,795 | |
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 condensed consolidated statements of operations, for the Company's intangible assets was $0.4 million and $0.5 for the three months ended March 31, 2026 and 2025, respectively.
|