FIREFLY NEUROSCIENCE, INC. Goodwill & Intangibles Disclosure
NOTE 11: INTANGIBLE ASSETS, NET AND GOODWILL
The following tables summarize the composition of intangible assets as of December 31, 2025 and 2024:
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| December 31, 2025 |
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| Gross |
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| Net |
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| Weighted |
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| Carrying |
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| Accumulated |
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| Accumulated |
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| Carrying |
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| Average |
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| Amount |
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| Amortization |
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| Impairment |
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| Amount |
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| Life |
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Finite lived intangible assets |
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BNA software |
| $ | 1,109 |
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| $ | (84 | ) |
| $ | (1,025 | ) |
| $ | - |
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|
| - |
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Developed technology |
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| 700 |
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| (52 | ) |
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| 648 |
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| 8.33 |
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Trade names |
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| 150 |
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| (33 | ) |
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|
| 117 |
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|
| 2.33 |
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Non-compete agreements |
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| 110 |
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| (14 | ) |
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| 96 |
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| 4.33 |
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Total intangible assets |
| $ | 2,069 |
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| $ | (183 | ) |
| $ | (1,025 | ) |
| $ | 861 |
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| 6.93 |
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| | December 31, 2024 | | |||||||||||||||||
| | Gross | | | | | | | | | | | Net | | | Weighted | | |||
| | Carrying | | | Accumulated | | | Accumulated | | | Carrying | | | Average | | |||||
| | Amount | | | Amortization | | | Impairment | | | Amount | | | Life | | |||||
Finite lived intangible assets | | | | | | | | | | | | | | | | | | | | |
BNA software | | $ | 1,109 | | | $ | (55 | ) | | $ | (874 | ) | | $ | 180 | | | | 4.75 | |
Total intangible assets | | $ | 1,109 | | | $ | (55 | ) | | $ | (874 | ) | | $ | 180 | | | | 4.75 | |
Amortization expense was $128 and $55 for the year ended December 31, 2025 and 2024, respectively.
During the reporting period, management evaluated the Company’s capitalized software development costs for indicators of impairment in accordance with ASC 350-40, Internal-Use Software. The review was prompted by a change in strategic direction resulting from the acquisition of Evoke Neuroscience and its hardware offering.
Accordingly, the Company recognized an impairment loss of $152 during the period ended December 31, 2025. This charge was recorded within “Impairment of assets” on the statement of operations, reducing the carrying value of the software asset to
The estimated aggregate future amortization expense for intangible assets subject to amortization as of December 31, 2025, is summarized below:
December 31, 2025 |
| Estimated Future Amortization Expense |
| |
2026 |
| $ | 150 |
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2027 |
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| 150 |
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2028 |
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| 116 |
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2029 |
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| 100 |
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2030 |
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| 345 |
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Thereafter |
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| - |
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Total |
| $ | 861 |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 31, 2026 | Showing above |
| 2024 | Apr 3, 2025 | |
| 2023 | Mar 20, 2024 | |
| 2022 | Apr 17, 2023 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.