What was the gross carrying amount of Clear Pest Pros' patented technology in 2023?
Clear_Pest_Pros Franchise · 2025 FDDAnswer from 2025 FDD Document
s in thousands)**
9. Intangible Assets and Goodwill
Intangible assets and goodwill of the Company are summarized as follows:
December 31,
| 2024 | 2023 | 2022 (as restated) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Carrying Amount | Accumulated Amortization | Gross Carrying Amount | Accumulated Amortization | Gross Carrying Amount | Accumulated Amortization | |||||||
| Amortized Intangible Assets Franchise agreements Patented technology Trade names Internal software Patents and trademarks | $ | 32,215 7,685 7,400 1,700 384 | $ | 13,629 5,994 4,125 1,700 1 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 67)
What This Means (2025 FDD)
According to Clear Pest Pros' 2025 Franchise Disclosure Document, the gross carrying amount of their patented technology in 2023 was $7,600. This figure represents the initial cost or value assigned to the patented technology on Clear Pest Pros' balance sheet before any accumulated amortization is accounted for.
For a prospective franchisee, understanding the value and amortization of Clear Pest Pros' intangible assets, like patented technology, is crucial. These assets can contribute to the brand's competitive advantage and market position. The amortization expense, which was $4,886 in 2023, reflects the systematic reduction of the asset's value over its useful life.
Reviewing the financial statements and understanding how Clear Pest Pros values and manages its intangible assets can provide insights into the company's financial health and long-term strategy. Franchisees should consider how these assets might impact their own business operations and profitability.