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Goodwill and Intangible Assets (Tables)
 6 Months Ended
Dec. 31, 2024
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):

 

 

 

Carrying Amount

 

Balance as of June 30, 2024

 

$

285,969

 

Foreign currency translation adjustment

 

 

(62

)

Balance as of December 31, 2024

 

$

285,907

 
Schedule of Intangible Assets Amortized on Straight Line Basis

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

 

 
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 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

 
Schedule of Estimated Future Amortization Expense for Acquired Intangible Assets

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