Annual report pursuant to Section 13 and 15(d)

Intangible Assets

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Intangible Assets
 12 Months Ended
Jun. 30, 2024
Intangible Assets [Abstract]  
Intangible Assets

Note 9: Intangible Assets

 

Intangible assets consisted of the following as of June 30, 2024 (in thousands):

 

    Gross
Carrying
Amount		     Accumulated
Amortization		     Net
Carrying
Amount		     Weighted
Average Useful
Life in Years		  
Trademarks   $ 900     $ (438 )   $ 462       5  
Developed Technology   $ 3,812     $ (1,083 )   $ 2,729       8  
Customer Relationships   $ 13,569     $ (4,195 )   $ 9,374       7  
Total   $ 18,281     $ (5,716 )   $ 12,565            

 

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            

 

Amortization expense totaled $2.6 million for the year ended June 30, 2024. Estimated future amortization expense of intangible assets for each of the next five fiscal years and thereafter are as follows (in thousands):

 

2025   $ 2,621  
2026   $ 2,621  
2027   $ 2,522  
2028   $ 2,461  
2029     1,556  
Thereafter   $ 784  
Total   $ 12,565