NEXGEL, Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Intangible Assets

Intangible Assets

3 Months Ended

Mar. 31, 2026

Intangible Asset, Goodwill and Other [Abstract]

10. Intangible Assets

The following provides a breakdown of identifiable intangible assets as of March 31, 2026 and December 31, 2025 ($ in thousands):

	March 31,			December 31,
	2026			2025
Product/Technology Related
Identifiable intangible assets, gross	$	325		$	325
Accumulated amortization		(308	)		(289	)
Product/technology related identifiable intangible assets, net		17			36
Marketing Related
Customer related intangible asset, gross		17			17
Tradename related intangible asset, gross		713			713
Accumulated amortization		(92	)		(85	)
Marketing related identifiable intangible assets, net		638			645
Total identifiable intangible assets, net	$	655		$	681

In connection with the May 15, 2024 acquisition of Silly George, the Company identified intangible assets of $600 thousand representing trademark related intangibles with indefinite lives.

Intangible assets with indefinite lives are tested for impairment within one year of the acquisition date or annually as of December 31, and whenever indicators of impairment exist.

The intangible assets with definite lives are being amortized on a straight-line basis over their weighted average estimated useful life of 1.5 years and amortization expense amounted to $26 and $32 thousand for the three months ended March 31, 2026 and 2025, respectively.

As of March 31, 2026, the estimated annual amortization expense for each of the next five fiscal years is as follows ($ in thousands):


2026 (remainder of year)	$	37
2027		13
2028		2
2029		2
2030		1
Subtotal		55
Indefinite lived intangible assets (subject to impairment analysis)		600
Total	$	655