Journey Medical Corporation Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

INTANGIBLE ASSETS

INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2025

NOTE 5. INTANGIBLE ASSETS

The Company’s finite-lived intangible assets consist of acquired intangible assets. The Company’s intangible assets as of March 31, 2025 and December 31, 2024 are summarized as follows:


	Estimated
	Useful Lives		March 31,		December 31,
($’s in thousands)	(Years)		2025		2024
Intangible assets - product licenses		3-15	$	52,925	$	52,925
Accumulated amortization				(18,984)		(17,919)
Accumulated impairment loss				(3,143)		(3,143)
Total intangible assets			$	30,798	$	31,863

The Company’s amortization expense for the three-month periods ended March 31, 2025 and 2024 was $1.1 million and $0.8 million, respectively.

Future amortization of the Company’s intangible assets is as follows:


For the years ended	Total Amortization
Remainder of 2025	$	3,192
December 31, 2026		3,471
December 31, 2027		2,775
December 31, 2028		2,595
December 31, 2029		2,595
Thereafter		12,228
Subtotal		26,856
Asset not yet placed in service		3,942
Total	$	30,798