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Other Intangible Assets
 12 Months Ended
Jul. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Other Intangible Assets

Note 12—Other Intangible Assets

 

The table below presents information on the Company’s amortized intangible assets:

 

(in thousands) 

Weighted

Average

Amortization

Period

  

Gross

Carrying

Amount

  

Accumulated

Amortization

  

Net

Balance

 
July 31, 2024                    
Tradenames   14.5 years   $1,400   $(445)  $955 
Non-compete agreements   6.0 years    660    (266)   394 
Customer relationships   7.5 years    11,377    (6,441)   4,936 
TOTAL   8.1 years   $13,437   $(7,152)  $6,285 
July 31, 2023                    
Tradenames   10.5 years   $2,694   $(1,005)  $1,689 
Non-compete agreements   5.5 years    1,302    (778)   524 
Customer relationships   7.5 years    11,511    (5,528)   5,983 
TOTAL   7.9 years   $15,507   $(7,311)  $8,196 

 

In March 2024, the Company completed a portion of the integration of the Leaf Wallet platform into the BOSS Money app, including replacing the Leaf tradename with BOSS Money. The Leaf tradename balance of $0.1 million was written-off in fiscal 2024.

 

Amortization expense of intangible assets was $1.3 million, $1.5 million, and $1.3 million in fiscal 2024, fiscal 2023, and fiscal 2022, respectively. The Company estimates that amortization expense of intangible assets with finite lives will be $1.2 million, $1.2 million, $1.1 million, $1.0 million, and $0.6 million in fiscal 2025, fiscal 2026, fiscal 2027, fiscal 2028, and fiscal 2029, respectively.