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Goodwill and Intangible Assets (Tables)
12 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Goodwill

The following table reflects the changes in the carrying amount of goodwill (in thousands):

 

 

June 30,
2023

 

 

June 30,
2022

 

Balance at beginning of period

 

$

400,144

 

 

$

331,159

 

Additions due to acquisitions (see Note 4)

 

 

 

 

 

68,985

 

Foreign currency translation

 

 

(5,389

)

 

 

 

        Balance at end of period

 

$

394,755

 

 

$

400,144

 

Components of Gross and Net Intangible Asset Balances

The following tables summarize the components of gross and net intangible asset balances (in thousands, except years):

 

 

Weighted Average

 

 

 

 

 

 

 

 

 

 

 

Remaining Amortization

 

Gross Carrying

 

 

Accumulated

 

 

Net Carrying

 

 

 

Period

 

Amount

 

 

Amortization

 

 

Amount

 

June 30, 2023

 

 

 

 

 

 

 

 

 

 

 

Developed technology

 

4.1 years

 

$

169,460

 

 

$

159,592

 

 

$

9,868

 

Customer relationships

 

3.4 years

 

 

64,839

 

 

 

58,894

 

 

 

5,945

 

Trade names

 

0.0 years

 

 

10,700

 

 

 

10,700

 

 

 

 

License agreements

 

3.4 years

 

 

2,445

 

 

 

2,195

 

 

 

250

 

Total intangible assets, net*

 

 

 

$

247,444

 

 

$

231,381

 

 

$

16,063

 

* The carrying amounts of foreign intangible assets are affected by foreign currency translation.

 

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

 

 

 

Remaining Amortization

 

Gross Carrying

 

 

Accumulated

 

 

Net Carrying

 

 

 

Period

 

Amount

 

 

Amortization

 

 

Amount

 

June 30, 2022

 

 

 

 

 

 

 

 

 

 

 

Developed technology

 

3.3 years

 

$

170,600

 

 

$

146,560

 

 

$

24,040

 

Customer relationships

 

3.9 years

 

 

64,839

 

 

 

56,704

 

 

 

8,135

 

Trade names

 

0.1 years

 

 

10,700

 

 

 

10,680

 

 

 

20

 

License agreements

 

4.4 years

 

 

2,445

 

 

 

2,125

 

 

 

320

 

Total intangible assets, net*

 

 

$

248,584

 

 

$

216,069

 

 

$

32,515

 

* The carrying amount of foreign intangible assets are affected by foreign currency translation.

 

 

 

 

Summary of Amortization Expense of Intangible Assets

The following table summarizes the amortization expense of intangible assets for the periods presented (in thousands):

 

 

Year Ended

 

 

 

June 30,
2023

 

 

June 30,
2022

 

 

June 30,
 2021

 

Amortization of intangible assets in “Total cost of revenues”

 

$

12,941

 

 

$

16,711

 

 

$

26,246

 

Amortization of intangible assets in “Total operating expenses”

 

 

2,047

 

 

 

3,235

 

 

 

6,110

 

Total amortization expense

 

$

14,988

 

 

$

19,946

 

 

$

32,356

 

 

Schedule of Expected Amortization Expenses

The estimated future amortization expense to be recorded for each of the respective future fiscal years is as follows (in thousands):

 

 

Amount

 

For the fiscal year ending June 30:

 

 

 

2024

 

$

5,293

 

2025

 

 

4,519

 

2026

 

 

3,241

 

2027

 

 

1,452

 

2028

 

 

1,289

 

Thereafter

 

 

269

 

Total

 

$

16,063