Akoustis Technologies, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

Goodwill and Intangible Assets

6 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Note 8: Goodwill and Intangible Assets

Intangible assets consisted of the following as of December 31, 2021 (in thousands):

	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Useful Life in Years
Goodwill	$	7,835	$	—		$	7,835		indefinite
Trademarks	$	1,569	$	(16	)	$	1,553		5
Developed Technology	$	1,847	$	(88	)	$	1,759		10
Customer Relationships	$	6,927	$	(72	)	$	6,855		7
Total	$	18,178	$	(176	)	$	18,002

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 $108 thousand for the three months ended December 31, 2021 and $115 thousand for the six months ended December 31, 2021. Estimated future amortization expense of intangible assets for each of the next five fiscal years and thereafter are as follows (in thousands):

2022	$	966
2023	$	1,519
2024	$	1,519
2025	$	1,519
2026	$	1,519
Thereafter	$	3,125
Total	$	10,167