v3.26.3
Note 13 - Intangible Assets
 9 Months Ended
Aug. 31, 2026
Notes to Financial Statements  
Intangible Asset [Text Block]

13.

INTANGIBLE ASSETS

 

The components of intangible assets were as follows (in thousands):

 

      

Balance at August 31, 2026

  

Balance at November 30, 2025

 
  

Estimated Useful Lives in Years

  

Gross Carrying Amount

  

Accumulated Amortization

  

Net Carrying Amount

  

Gross Carrying Amount

  

Accumulated Amortization

  

Net Carrying Amount

 

Patents

  10-17  $4,864  $(1,427) $3,437  $3,955  $(1,234) $2,721 

Trademarks

 

Indefinite

   360   —   360   360   —   360 

Trademarks

  1   143   —   143   —   —   — 

Customer List

  2   70   (70)  —   70   (70)  — 

Federal Firearms License

  3   6   (2)  4   6   (1)  5 

Total

     $5,443  $(1,499) $3,944  $4,391  $(1,305) $3,086 

 

The Company's trademarks, other than those acquired in the Hero Acquisition, have an indefinite life and are assessed annually for impairment. The trademarks acquired in the Hero Acquisition (see Note 6, Goodwill) are finite-lived and will be amortized over a one-year useful life beginning in September 2026, reflecting the Company's plan to phase out the acquired trade names in connection with a planned product relaunch in fiscal 2027.  All other intangible assets are finite-lived.

 

Intangible assets amortization expenses are recorded within operating expenses in the accompanying Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income. Total intangible assets amortization expense for the nine months ended August 31, 2026 and 2025 was $0.2 million in each period. Total intangible assets amortization expense for the three months ended August 31, 2026 and 2025 was less than $0.1 million in each period.

 

Estimated future amortization expense related to intangible assets as of August 31, 2026 are as follows (in thousands):

 

Fiscal Year Ending November 30,

 

2026 (remaining three months)

 $123 

2027

  458 

2028

  351 

2029

  350 

2030

  350 

Thereafter

  1,952 

Total estimated future amortization expense

 $3,584 

Indefinite-lived intangible assets (not amortized)

  360 

Total intangible assets, net

 $3,944