Annual report pursuant to Section 13 and 15(d)

Intangible Assets

v3.23.2
Intangible Assets
 12 Months Ended
Jun. 30, 2023
Intangible Assets [Abstract]  
Intangible Assets

Note 9: Intangible Assets

 

Intangible assets consisted of the following as of June 30, 2023 (in thousands):

 

    Gross
Carrying
Amount		     Accumulated
Amortization		     Net
Carrying
Amount		     Weighted
Average Useful
Life in Years		  
Trademarks   $ 900     $ (258 )   $ 642       5  
Developed Technology   $ 3,867     $ (581 )   $ 3,286       10  
Customer Relationships   $ 13,569     $ (2,256 )   $ 11,313       7  
Total   $ 18,336     $ (3,095 )   $ 15,241          

 

Intangible assets consisted of the following as of June 30, 2022 (in thousands):

 

    Gross
Carrying
Amount		     Accumulated
Amortization		     Net
Carrying
Amount		     Weighted
Average Useful
Life in Years		  
Trademarks   $ 702     $ (99 )   $ 603       5  
Developed Technology   $ 1,911     $ (221 )   $ 1,690       10  
Customer Relationships   $ 7,455     $ (754 )   $ 6,701       7  
Total   $ 10,068     $ (1,074 )   $ 8,994          

 

Amortization expense totaled $2 million for the year ended June 30, 2023. Estimated future amortization expense of intangible assets for each of the next five fiscal years and thereafter are as follows (in thousands):

 

2024   $ 2,618  
2025   $ 2,618  
2026   $ 2,618  
2027   $ 2,519  
2028     2,458  
Thereafter   $ 2,410  
Total   $ 15,241