GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible asset balances consisted of the following:


	As of June 30, 2023						Amortization Period
($ in thousands)	Gross		Accumulated Amortization		Net

Intangible assets:
Brand and tradenames	$	2,161	$	(1,414)	$	747	1 - 7 years
Developed technology	20,188		(11,066)		9,122		5 - 6 years
Customer relationships	24,714		(6,771)		17,943		5 - 18 years
Total intangible assets	$	47,063	$	(19,251)	$	27,812

Goodwill	$	92,005	$	—	$	92,005	Indefinite


	As of June 30, 2022						Amortization Period
($ in thousands)	Gross		Accumulated Amortization		Net

Intangible assets:
Brand and tradenames	$	1,705	$	(1,133)	$	572	3 - 7 years
Developed technology	11,129		(8,071)		3,058		5 - 6 years
Customer relationships	19,339		(5,022)		14,317		10 - 18 years
Total intangible assets	$	32,173	$	(14,226)	$	17,947

Goodwill	$	66,656	$	—	$	66,656	Indefinite

For the years ended June 30, 2023, 2022 and 2021, amortization expense related to intangible assets was $5.0 million, $3.3 million and $3.1 million, respectively. The weighted-average remaining useful life of the finite-lived intangible assets was 16.2 years as of June 30, 2023, of which the weighted-average remaining useful life for the brand and tradenames was 2 years, for the developed technology was 4.1 years, and for the customer relationships was 10.1 years.

The Company performs an annual goodwill impairment test on April 1 and more frequently if events and circumstances indicate that the asset might be impaired. The Company has determined that there is a single reporting unit for purposes of testing goodwill for impairment. During the years ended June 30, 2023, June 30, 2022 and June 30, 2021, the Company

assessed goodwill for impairment utilizing a qualitative assessment. The Company did not recognize any impairment charges related to goodwill as a result of its qualitative assessment.

Estimated annual amortization expense for intangible assets is as follows (in thousands):


2024	$	5,201
2025	4,439
2026	4,241
2027	3,946
2028	2,249
Thereafter	7,736
	$	27,812