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Goodwill and Intangible Assets (Tables)
 3 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Carrying Amounts of Goodwill

Changes in the carrying amounts of goodwill were as follows (in thousands):

 

 

 

Three Months Ended September 30,

 

 

 

2023

 

 

2022

 

Balance, beginning of period

 

$

278,890

 

 

$

269,103

 

Purchase price adjustment

 

 

—

 

 

 

784

 

Foreign currency translation adjustment

 

 

(289

)

 

 

(657

)

Balance, end of period

 

$

278,601

 

 

$

269,230

 
Schedule of Intangible Assets Amortized on Straight Line Basis

Intangible assets acquired through business combinations consisted of the following (in thousands):

 

 

 

September 30, 2023

 

 

 

Useful Life
(In years)

 

Gross Carrying Amount

 

 

Accumulated
Amortization

 

 

Net Carrying Amount

 

Client relationships

 

9 to 15

 

$

48,900

 

 

$

(25,515

)

 

$

23,385

 

Non-compete agreements

 

3 to 5

 

 

4,907

 

 

 

(3,546

)

 

 

1,361

 

Trademarks and trade names

 

Indefinite

 

 

4,683

 

 

 

—

 

 

 

4,683

 

Trademarks and trade names

 

5 to 10

 

 

7,822

 

 

 

(5,458

)

 

 

2,364

 

Core technology

 

4 to 6

 

 

52,519

 

 

 

(44,330

)

 

 

8,189

 

Backlog

 

2

 

 

1,000

 

 

 

(430

)

 

 

570

 

Intangible assets, net

 

 

 

$

119,831

 

 

$

(79,279

)

 

$

40,552

 

 

 

 

June 30, 2023

 

 

 

Useful Life
(In years)

 

Gross Carrying Amount

 

 

Accumulated
Amortization

 

 

Net Carrying Amount

 

Client relationships

 

9 to 15

 

$

48,900

 

 

$

(24,341

)

 

$

24,559

 

Non-compete agreements

 

3 to 5

 

 

4,907

 

 

 

(3,383

)

 

 

1,524

 

Trademarks and trade names

 

Indefinite

 

 

4,683

 

 

 

—

 

 

 

4,683

 

Trademarks and trade names

 

5 to 10

 

 

7,822

 

 

 

(5,270

)

 

 

2,552

 

Core technology

 

4 to 6

 

 

52,519

 

 

 

(43,275

)

 

 

9,244

 

Backlog

 

2

 

 

1,000

 

 

 

(305

)

 

 

695

 

Intangible assets, net

 

 

 

$

119,831

 

 

$

(76,574

)

 

$

43,257

 

 

 
Schedule of Amortization Expense Related to Acquired Intangible Assets

Amortization expense related to acquired intangible assets was recognized as follows (in thousands):

 

 

 

Three Months Ended September 30,

 

 

 

2023

 

 

2022

 

Cost of SaaS and support

 

$

1,055

 

 

$

1,496

 

Sales and marketing

 

 

1,487

 

 

 

1,464

 

General and administrative

 

 

163

 

 

 

121

 

Total amortization expense

 

$

2,705

 

 

$

3,081

 
Schedule of Estimated Future Amortization Expense for Acquired Intangible Assets

As of September 30, 2023, the estimated future amortization expense for acquired intangible assets is as follows (in thousands):

 

Fiscal Year Ending June 30,

 

Amount

 

2024 (remaining 9 months)

 

$

7,504

 

2025

 

 

7,506

 

2026

 

 

5,090

 

2027

 

 

4,925

 

2028

 

 

4,428

 

2029 and thereafter

 

 

6,416

 

Total remaining amortization

 

$

35,869