Intangible Assets

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Note 4. Intangible Assets

Our recognized intangible assets consist of patents and the unpatented technological know-how of Danimer Catalytic Technologies. Our legacy patents were initially recorded at cost. The values of Danimer Catalytic Technologies’ patents and unpatented know-how are inseparable and represent their acquisition-date fair value, less subsequent amortization.

We capitalize patent defense and application costs and amortize these costs on a straight-line basis over their estimated useful lives, which range from 10 to 20 years. Our intangible portfolio has an estimated weighted average useful life of 16.8 years.

Intangible assets, net, consisted of the following:


	September 30,			December 31,
(in thousands)	2024			2023
Intangible assets, gross	$	97,020		$	95,765
Less capitalized patent costs not yet subject to amortization		(3,741	)		(2,838	)
Intangible assets subject to amortization, gross		93,279			92,927
Accumulated amortization		(21,258	)		(17,975	)
Intangible assets subject to amortization, net		72,021			74,952
Total intangible assets, net	$	75,762		$	77,790

Amortization expense was $1.1 million and $1.2 million for the three months ended September 30, 2024 and 2023, respectively, and $3.3 million and $3.5 million for the nine months ended September 30, 2024 and 2023, respectively. This expense was included in research and development costs.