NextPlat Corp Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Note 11 - Intangible Assets, net

Note 11 - Intangible Assets, net

3 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

Note 11. Intangible Assets, net

Intangible assets, net consisted of the following (in thousands):

	*March 31, 2025*
	*Gross amount*		*Accumulated amortization*			*Net amount*
Customer contracts	$	665	$	(333	)	$	332
Trade names		185		(19	)		166
Total intangible assets	$	850	$	(352	)	$	498

	*December 31, 2024*
	*Gross amount*		*Accumulated amortization*			*Net amount*
Customer contracts	$	665	$	(312	)	$	353
Trade names		185		(14	)		171
Total intangible assets	$	850	$	(326	)	$	524

For the three months ended March 31, 2025 and 2024, the Company recognized amortization expense of approximately $26,000 and $0.7 million, respectively.

The following table represents the total estimated future amortization of intangible assets for the five succeeding years and thereafter as of March 31, 2025 (in thousands):

Year		*Amount*
2025 (remaining nine months)	$	76
2026		102
2027		102
2028		102
2029		39
Thereafter		77
Total	$	498