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Intangible Assets
3 Months Ended
Sep. 30, 2022
Goodwill And Intangible Assets Disclosure [Abstract]  
Intangible Assets

7.

Intangible Assets

 

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

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Remaining Amortization

 

Gross Carrying

 

 

Accumulated

 

 

Net Carrying

 

 

 

Period

 

Amount

 

 

Amortization

 

 

Amount

 

September 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Developed technology

 

3.4 years

 

$

170,600

 

 

$

149,990

 

 

$

20,610

 

Customer relationships

 

3.7 years

 

 

64,839

 

 

 

57,186

 

 

 

7,653

 

Trade names

 

0 years

 

 

10,700

 

 

 

10,700

 

 

 

-

 

License agreements

 

4.2 years

 

 

2,445

 

 

 

2,143

 

 

 

302

 

Total intangibles, net

 

 

 

$

248,584

 

 

$

220,019

 

 

$

28,565

 

 

 

 

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 intangibles, net

 

 

 

$

248,584

 

 

$

216,069

 

 

$

32,515

 

 

The amortization expense of intangibles for the periods presented is summarized below (in thousands):

 

 

 

Three Months Ended

 

 

 

September 30,

2022

 

 

September 30,

2021

 

Amortization of intangibles in “Total cost of revenues”

 

$

3,605

 

 

$

5,286

 

Amortization of intangibles in "Total operating expenses"

 

 

523

 

 

 

1,154

 

Total amortization expense

 

$

4,128

 

 

$

6,440

 

The amortization expense that is recognized in “Total cost of revenues” is comprised of amortization for most of developed technology and license agreements.

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

 

For the fiscal year ending:

 

 

 

 

2023 (the remainder of fiscal 2023)

 

$

11,562

 

2024

 

 

5,571

 

2025

 

 

4,757

 

2026

 

 

3,411

 

2027

 

 

1,528

 

Thereafter

 

 

1,736

 

Total

 

$

28,565