Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets (Tables)

v3.24.1.u1
Goodwill and Intangible Assets (Tables)
9 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Carrying Value of Goodwill and Other Purchased Intangibles

The carrying value of goodwill and other purchased intangibles are described below (dollar amounts in thousands):

 

 

 

 

 

 

March 31, 2024

 

 

June 30, 2023

 

 

 

Estimated Useful Lives
(Years)

 

Remaining Weighted-Average Amortization Period
(Years)

 

Gross Carrying Amount

 

 

Accumulated
Amortization

 

 

Accumulated
Impairment

 

 

Net Book Value

 

 

Gross Carrying Amount

 

 

Accumulated
Amortization

 

 

Accumulated
Impairment

 

 

Net Book Value

 

Identifiable intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Existing customer relationships

 

5 - 15

 

4.9

 

$

62,568

 

 

$

(50,924

)

 

$

 

 

$

11,644

 

 

$

55,768

 

 

$

(46,465

)

 

$

 

 

$

9,303

 

Developed technology

 

4

 

1.2

 

 

11,036

 

 

 

(8,146

)

 

 

 

 

 

2,890

 

 

 

11,036

 

 

 

(6,077

)

 

 

 

 

 

4,959

 

Non-compete and other

 

3 - 5

 

3.5

 

 

2,310

 

 

 

(2,300

)

 

 

 

 

 

10

 

 

 

2,310

 

 

 

(2,300

)

 

 

 

 

 

10

 

Employment agreement

 

1 - 3

 

0.0

 

 

295

 

 

 

(295

)

 

 

 

 

 

 

 

 

295

 

 

 

(295

)

 

 

 

 

 

 

Intangibles subject to amortization

 

 

76,209

 

 

 

(61,665

)

 

 

 

 

 

14,544

 

 

 

69,409

 

 

 

(55,137

)

 

 

 

 

 

14,272

 

Trade names and trademarks

 

Indefinite

 

Indefinite

 

 

53,148

 

 

 

 

 

 

(1,290

)

 

 

51,858

 

 

 

49,648

 

 

 

 

 

 

(1,290

)

 

 

48,358

 

Domain name

 

Indefinite

 

Indefinite

 

 

8,515

 

 

 

 

 

 

 

 

 

8,515

 

 

 

 

 

 

 

 

 

 

 

 

 

Identifiable intangible assets

 

$

137,872

 

 

$

(61,665

)

 

$

(1,290

)

 

$

74,917

 

 

$

119,057

 

 

$

(55,137

)

 

$

(1,290

)

 

$

62,630

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

Indefinite

 

Indefinite

 

$

122,320

 

 

$

 

 

$

(1,364

)

 

$

120,956

 

 

$

102,307

 

 

$

 

 

$

(1,364

)

 

$

100,943

 

Schedule of Carrying Amounts of Goodwill

The changes in the carrying amounts of goodwill were as follows (in thousands):

Balance as of June 30, 2023

 

$

100,943

 

Goodwill acquired - LPM

 

 

20,013

 

Balance as of March 31, 2024

 

$

120,956

 

Schedule of Estimated Annual Amortization Expense Related to Definite-Lived Intangible Assets

Estimated annual amortization expense related to definite-lived intangible assets for the succeeding five years is as follows (in thousands):

 

Fiscal Year Ending June 30,

 

Amount

 

2024 (remainder of year)

 

$

1,899

 

2025

 

 

5,962

 

2026

 

 

1,763

 

2027

 

 

1,339

 

2028

 

 

951

 

Thereafter

 

 

2,630

 

 

$

14,544