Goodwill and Intangible Assets, Net

9 Months Ended

Mar. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

9. Goodwill and Intangible Assets, Net

Goodwill

The changes in the carrying amount of goodwill for the nine months ended March 31, 2021 were as follows (in thousands):

	Goodwill
Balance as of June 30, 2020	$	80,677
Goodwill acquired ⁽¹⁾		40,744
Goodwill disposed ⁽²⁾		(3,212	)
Balance as of March 31, 2021	$	118,209

⁽¹⁾	Represents goodwill acquired associated with the acquisitions completed in the first three quarters of fiscal year 2021. See Note 8, Acquisitions, for more information.

⁽²⁾	Represents goodwill disposed associated with the divestiture of the education client vertical completed in the first quarter of fiscal year 2021. See Note 7, Divestitures, for more information.

Intangible Assets, Net

Intangible assets, net, consisted of the following (in thousands):

	March 31, 2021							June 30, 2020
	Gross					Net		Gross					Net
	Carrying		Accumulated			Carrying		Carrying		Accumulated			Carrying
	Amount		Amortization			Amount		Amount		Amortization			Amount
Customer/publisher/advertiser relationships	$	90,960	$	(41,297	)	$	49,663	$	61,324	$	(36,213	)	$	25,111
Content		43,705		(43,305	)		400		55,430		(55,430	)		—
Website/trade/domain names		25,348		(18,412	)		6,936		23,059		(20,717	)		2,342
Acquired technology and others		33,843		(28,641	)		5,202		27,941		(27,220	)		721
Total	$	193,856	$	(131,655	)	$	62,201	$	167,754	$	(139,580	)	$	28,174

Amortization of intangible assets was $2.8 million and $8.8 million for the three and nine months ended March 31, 2021, and $1.9 million and $5.8 million for the three and nine months ended March 31, 2020.

Future amortization expense for the Company’s intangible assets as of March 31, 2021 was as follows (in thousands):

Fiscal Year Ending June 30,	Amortization
2021 (remaining three months)	$	3,013
2022		11,365
2023		10,503
2024		9,606
2025		7,622
Thereafter		20,092
Total	$	62,201