Byrna Technologies Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Note 13 - Intangible Assets

Note 13 - Intangible Assets

6 Months Ended

May 31, 2025

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

13.

INTANGIBLE ASSETS

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

			*Balance at May 31, 2025*							*Balance at November 30, 2024*
	*Estimated Useful Lives in Years*		*Gross Carrying Amount*		*Accumulated Amortization*			*Net Carrying Amount*		*Gross Carrying Amount*		*Accumulated Amortization*			*Net Carrying Amount*
Patents		10-17	$	3,955	$	(1,106	)	$	2,849	$	3,955	$	(978	)	$	2,977
Trademarks	Indefinite			360		—			360		360		—			360
Customer List		2		70		(70	)		—		70		(70	)		—
Federal Firearms License		3		6		—			6
Total			$	4,391	$	(1,176	)	$	3,215	$	4,385	$	(1,048	)	$	3,337

The trademarks have an indefinite life and are assessed annually for impairment. 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 Income. Total intangible assets amortization expense for the six months ended May 31, 2025 and May 31, 2024 were $0.1 million and $0.1 million, respectively. Total intangible assets amortization expense for the three months ended May 31, 2025 and 2024 were $0.1 million and less than $0.1 million, respectively.

Estimated future amortization expense related to intangible assets as of May 31, 2025 are as follows (in thousands):

Fiscal Year Ending November 30,
2025 (remaining six months)	$	129
2026		259
2027		259
2028		258
2029		257
Thereafter		1,693
Total	$	2,855