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Goodwill and Intangible Assets | 6 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Note 5. Goodwill and Intangible Assets Goodwill Changes in the carrying amounts of goodwill were as follows (in thousands):
|  | Carrying Amount |
Balance as of June 30, 2024 |  | $ | 285,969 |
Foreign currency translation adjustment |  |  | (62 | )
Balance as of December 31, 2024 |  | $ | 285,907 |
Intangible Assets Intangible assets acquired through business combinations consisted of the following (in thousands):
|  | December 31, 2024 |
|  | Useful Life (In years) |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Client relationships |  | 9 to 15 |  | $ | 48,900 |  |  | $ | (31,150 | ) |  | $ | 17,750 |
Non-compete agreements |  | 3 to 5 |  |  | 4,907 |  |  |  | (4,361 | ) |  |  | 546 |
Trademarks and trade names |  | Indefinite |  |  | 4,683 |  |  |  | — |  |  |  | 4,683 |
Trademarks and trade names |  | 5 to 10 |  |  | 7,822 |  |  |  | (5,983 | ) |  |  | 1,839 |
Core technology |  | 2 to 7 |  |  | 60,584 |  |  |  | (51,134 | ) |  |  | 9,450 |
Backlog |  | 2 |  |  | 1,000 |  |  |  | (917 | ) |  |  | 83 |
Intangible assets, net |  |  |  | $ | 127,896 |  |  | $ | (93,545 | ) |  | $ | 34,351 |
|  | June 30, 2024 |
|  | Useful Life (In years) |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Client relationships |  | 9 to 15 |  | $ | 48,900 |  |  | $ | (28,949 | ) |  | $ | 19,951 |
Non-compete agreements |  | 3 to 5 |  |  | 4,907 |  |  |  | (4,035 | ) |  |  | 872 |
Trademarks and trade names |  | Indefinite |  |  | 4,683 |  |  |  | — |  |  |  | 4,683 |
Trademarks and trade names |  | 5 to 10 |  |  | 7,822 |  |  |  | (5,773 | ) |  |  | 2,049 |
Core technology |  | 2 to 7 |  |  | 60,584 |  |  |  | (48,054 | ) |  |  | 12,530 |
Backlog |  | 2 |  |  | 1,000 |  |  |  | (792 | ) |  |  | 208 |
Intangible assets, net |  |  |  | $ | 127,896 |  |  | $ | (87,603 | ) |  | $ | 40,293 |
Amortization expense related to acquired intangible assets was recognized as follows (in thousands):
|  | Three Months Ended December 31, |  |  | Six Months Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Cost of SaaS |  | $ | 1,509 |  |  | $ | 1,055 |  |  | $ | 3,080 |  |  | $ | 2,110 |
Sales and marketing |  |  | 1,268 |  |  |  | 1,396 |  |  |  | 2,536 |  |  |  | 2,883 |
General and administrative |  |  | 163 |  |  |  | 163 |  |  |  | 326 |  |  |  | 326 |
Total amortization expense |  | $ | 2,940 |  |  | $ | 2,614 |  |  | $ | 5,942 |  |  | $ | 5,319 |
As of December 31, 2024, the estimated future amortization expense for acquired intangible assets is as follows (in thousands):
Fiscal Year Ending June 30, |  | Amount |
2025 (remaining 6 months) |  | $ | 5,221 |
2026 |  |  | 7,835 |
2027 |  |  | 5,121 |
2028 |  |  | 4,623 |
2029 |  |  | 3,252 |
2030 and thereafter |  |  | 3,616 |
Total remaining amortization |  | $ | 29,668 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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