Goodwill and Other Intangible Assets

3 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Note 7. Goodwill and Other Intangible Assets

(a) Goodwill

We consider our Chief Executive Officer (“CEO”) to be our CODM. Our CEO approves all major decisions, including reorganizations and new business initiatives. Our CODM reviews routine consolidated operating information and makes decisions on the allocation of resources at this level, as such, we have concluded that we have one operating segment.

All goodwill is assigned to one or more reporting units. A reporting unit represents an operating segment or a component within an operating segment for which discrete financial information is available and is regularly reviewed by segment management for performance assessment and resource allocation. Upon consideration of our components, we have concluded that our goodwill is associated with one reporting unit.

The changes in the carrying amount of goodwill for the three months ended December 31, 2024 are as follows (dollars in thousands):


	Total
Balance as of September 30, 2024	$	296,858
Effect of foreign currency translation		(7,972	)
Balance as of December 31, 2024	$	288,886

(b) Intangible Assets, Net

The following tables summarizes the gross carrying amounts and accumulated amortization of intangible assets by major class (dollars in thousands):


	December 31, 2024
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Remaining Life (Years)
Customer relationships	$	106,043	$	(104,984	)	$	1,059		0.2
Technology and patents		89,013		(89,013	)		-		-
Total	$	195,056	$	(193,997	)	$	1,059


	September 30, 2024
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Remaining Life (Years)
Customer relationships	$	108,659	$	(106,953	)	$	1,706		0.5
Technology and patents		90,042		(90,042	)		-		-
Total	$	198,701	$	(196,995	)	$	1,706

Amortization expense related to intangible assets in the aggregate was $0.6 million and $0.6 million for the three months ended December 31, 2024 and 2023, respectively. We expect amortization of intangible assets to be approximately $1.1 million for the remainder of fiscal year 2025.