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Goodwill and Intangible Assets | 9 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets |
Goodwill and Intangible Assets | 4. Goodwill and Intangible Assets ​ The changes in the carrying value of goodwill by segment for the nine-month period ended March 31, 2024 were as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Optoelectronics | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | And | ​ | ​ | ​ | ​ | ​
​ | ​ | Security | ​ | Manufacturing | ​ | Healthcare | ​ | ​ | ​
​ |  | Division |  | Division |  | Division |  | Consolidated
Balance as of June 30, 2023 | ​ | $ | 230,662 | ​ | $ | 70,388 | ​ | $ | 48,455 | ​ | $ | 349,505
Goodwill acquired | ​ |  | 2,072 | ​ |  | 828 | ​ |  | — | ​ |  | 2,900
Foreign currency translation adjustment | ​ |  | 25 | ​ | ​ | (310) | ​ | ​ | (1) | ​ | ​ | (286)
Balance as of March 31, 2024 | ​ | $ | 232,759 | ​ | $ | 70,906 | ​ | $ | 48,454 | ​ | $ | 352,119
​ Intangible assets consisted of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2023 | ​ | March 31, 2024
​ | ​ | Gross | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Carrying | ​ | Accumulated | ​ | Intangibles | ​ | Carrying | ​ | Accumulated | ​ | Intangibles
​ |  | Value |  | Amortization |  | Net |  | Value |  | Amortization |  | Net
Amortizable assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Software development costs | ​ | $ | 77,844 | ​ | $ | (20,285) | ​ | $ | 57,559 | ​ | $ | 86,576 | ​ | $ | (19,986) | ​ | $ | 66,590
Patents | ​ |  | 8,636 | ​ |  | (3,404) | ​ |  | 5,232 | ​ | ​ | 9,003 | ​ | ​ | (3,745) | ​ | ​ | 5,258
Developed technology | ​ |  | 68,274 | ​ |  | (38,353) | ​ |  | 29,921 | ​ | ​ | 71,208 | ​ | ​ | (44,174) | ​ | ​ | 27,034
Customer relationships | ​ |  | 55,780 | ​ |  | (39,101) | ​ |  | 16,679 | ​ | ​ | 51,536 | ​ | ​ | (39,894) | ​ | ​ | 11,642
Total amortizable assets | ​ |  | 210,534 | ​ | ​ | (101,143) | ​ | ​ | 109,391 | ​ | ​ | 218,323 | ​ | ​ | (107,799) | ​ | ​ | 110,524
Non-amortizable assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
In-process R&D | ​ | ​ | 533 | ​ | ​ | — | ​ | ​ | 533 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Trademarks | ​ |  | 30,933 | ​ | ​ | — | ​ | ​ | 30,933 | ​ | ​ | 31,532 | ​ | ​ | — | ​ | ​ | 31,532
Total intangible assets | ​ | $ | 242,000 | ​ | $ | (101,143) | ​ | $ | 140,857 | ​ | $ | 249,855 | ​ | $ | (107,799) | ​ | $ | 142,056
​ Amortization expense related to intangible assets was $4.8 million and $5.5 million for the three months ended March 31, 2023 and 2024, respectively. For the nine months ended March 31, 2023 and 2024, amortization expense related to intangible assets was $14.2 million and $15.9 million, respectively. ​ At March 31, 2024, the estimated future amortization expense for intangible assets was as follows (in thousands): ​ Fiscal Year ​
​ | ​ | ​ | ​
2024 (remaining 3 months) |  | $ | 4,922
2025 | ​ |  | 16,299
2026 | ​ |  | 12,704
2027 | ​ |  | 8,522
2028 | ​ | ​ | 5,659
Thereafter | ​ |  | 62,418
Total | ​ | $ | 110,524
​ Software development costs for software products incurred before establishing technological feasibility are charged to operations. Software development costs incurred after establishing technological feasibility are capitalized on a product-by-product basis until the product is available for general release to customers at which time amortization begins. Annual amortization, charged to cost of goods sold, is the amount computed using the ratio of current revenues for a product compared to the total current and anticipated future revenues for that product. In the event that future revenues are not estimable, such costs are amortized on a straight-line basis over the remaining estimated economic life of the product. Amortizable assets that have not yet begun to be amortized are included in Thereafter in the table above. For the three months ended March 31, 2023 and 2024, we capitalized software development costs in the amounts of $4.1 million and $4.3 million, respectively. For the nine months ended March 31, 2023 and 2024, we capitalized software development costs in the amounts of $12.0 million and $12.3 million, respectively.

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