Intangible Assets and Goodwill

6 Months Ended

Dec. 31, 2022

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

7. Intangible Assets and Goodwill

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
December 31, 2022
Developed technology	3.0 years	$	169,203	$	153,441	$	15,762
Customer relationships	3.4 years		64,665		57,728		6,937
Trade names	0.0 years		10,700		10,700		—
License agreements	3.9 years		2,445		2,160		285
Total intangibles, net*		$	247,013	$	224,029	$	22,984
*    Foreign intangible assets carrying amounts 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 intangibles, net*		$	248,584	$	216,069	$	32,515

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

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

	Three Months Ended				Six Months Ended
	December 31, 2022		December 31, 2021		December 31, 2022		December 31, 2021
Amortization of intangibles in “Total cost of revenues”	$	3,220	$	4,149	$	6,825	$	9,435
Amortization of intangibles in “Total operating expenses”		504		804		1,027		1,958
Total amortization expense	$	3,724	$	4,953	$	7,852	$	11,393

The amortization expense that is recognized in “Total cost of revenues” is comprised of amortization for most of the 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)	$	7,166
2024		5,212
2025		4,450
2026		3,191
2027		1,430
Thereafter		1,535
Total	$	22,984

Goodwill

The Company had Goodwill in the amount of $393.5 million and $400.1 million as of December 31, 2022 and June 30, 2022, respectively. The change in goodwill during the six months ended December 31, 2022 is due to foreign currency translation adjustment that is recorded as a component of accumulated other comprehensive loss.