Intangible Assets

6 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

4. Intangible Assets

The Company’s finite-lived intangible assets are stated at cost less accumulated amortization and include developed technology and trade name assets acquired in asset acquisitions, as well as costs incurred to obtain patents. Developed technology and trade name assets are amortized over 10 years to 15 years. Patent costs are amortized beginning at the time of patent approval over a useful life not exceeding 20 years.

The components of intangible assets, net are as follows:

	December 31, 2022						June 30, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
Developed technology	$	17,324	$	(3,771)	$	13,553	$	17,324	$	(3,165)	$	14,159
Patents	1,866		(963)		903		1,866		(903)		963
Trade name	760		(173)		587		760		(148)		612
Total intangible assets, net	$	19,950	$	(4,907)	$	15,043	$	19,950	$	(4,216)	$	15,734

Amortization expense expected for the next five years and thereafter is as follows:

Remainder of fiscal 2023	$	690
Fiscal 2024	1,377
Fiscal 2025	1,374
Fiscal 2026	1,373
Fiscal 2027	1,371
Thereafter	8,858
	$	15,043