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Goodwill and Intangible Assets

9 Months Ended

Mar. 31, 2026

4. Goodwill and Intangible Assets

The changes in the carrying value of goodwill by segment for the nine-month period ended March 31, 2026 were as follows (in thousands):


					Optoelectronics
					And
		Security			Manufacturing			Healthcare
		Division			Division			Division			Consolidated
Balance as of June 30, 2025		$	266,365		$	72,323		$	48,705		$	387,393
Goodwill adjustments during the period (see Note 2)			(1,306)			—			—			(1,306)
Foreign currency translation adjustment			13			(911)			(114)			(1,012)
Balance as of March 31, 2026		$	265,072		$	71,412		$	48,591		$	385,075

Intangible assets consisted of the following (in thousands):


	June 30, 2025						March 31, 2026
	Gross						Gross
	Carrying		Accumulated		Intangibles		Carrying		Accumulated		Intangibles
	Value		Amortization		Net		Value		Amortization		Net
Amortizable assets:
Software development costs	$	91,386	$	(8,941)	$	82,445	$	104,067	$	(10,755)	$	93,312
Patents		9,617		(4,353)		5,264		9,809		(4,559)		5,250
Developed technology		99,937		(55,865)		44,072		98,747		(62,801)		35,946
Customer relationships		20,991		(9,380)		11,611		18,364		(9,551)		8,813
Total amortizable assets		221,931		(78,539)		143,392		230,987		(87,666)		143,321
Non-amortizable assets:
Trademarks		39,898		—		39,898		39,996		—		39,996
Total intangible assets	$	261,829	$	(78,539)	$	183,290	$	270,983	$	(87,666)	$	183,317

Amortization expense related to intangible assets was $5.6 million and $4.4 million for the three months ended March 31, 2025 and 2026, respectively. Amortization expense related to intangible assets was $15.9 million and $13.6 million for the nine months ended March 31, 2025 and 2026, respectively.

At March 31, 2026, the estimated future amortization expense for amortizable intangible assets was as follows (in thousands):

Fiscal Year


2026 (remaining 3 months)	$	4,459
2027		13,814
2028		10,241
2029		8,057
2030		7,395
Thereafter		99,355
Total	$	143,321

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 that current revenues for a product bear 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 each of the three months ended March 31, 2025 and 2026, we capitalized software development costs of $4.2 million. For the nine months ended March 31, 2025 and 2026, we capitalized software development costs in the amounts of $13.0 million and $13.1 million, respectively.