Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

v3.22.1
Goodwill and Intangible Assets
9 Months Ended
Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

Note 8: Goodwill and Intangible Assets

 

Intangible assets consisted of the following as of March 31, 2022 (in thousands):

 

    Gross
Carrying
Amount
    Accumulated
Amortization
    Net
Carrying
Amount
    Weighted
Average Useful
Life in Years
 
Goodwill   $ 8,051     $
    $ 8,051      
indefinite
 
Trademarks   $ 700     $ (64 )   $ 636       5  
Developed Technology   $ 1,913     $ (167 )   $ 1,746       10  
Customer Relationships   $ 7,455     $ (488 )   $ 6,967       7  
Total   $ 18,119     $ (719 )   $ 17,400          

 

Intangible assets consisted of the following as of June 30, 2021 (in thousands):

 

    Gross
Carrying
Amount
    Accumulated
Amortization
    Net
Carrying
Amount
    Weighted
Average Useful
Life in Years
 
Developed Technology   $ 634     $ (62 )   $ 572       15  
                                 

Amortization expense totaled $355 thousand for the three months ended March 31, 2022 and $658 thousand for the nine months ended March 31, 2022. Estimated future amortization expense of intangible assets for each of the next five fiscal years and thereafter are as follows (in thousands):

 

2022   $ 358  
2023   $ 1,431  
2024   $ 1,431  
2025   $ 1,431  
2026   $ 1,431  
Thereafter   $ 3,267  
Total   $ 9,349