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GOODWILL AND INTANGIBLE ASSETS | 12 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS Goodwill and intangible asset balances consisted of the following:
| As of June 30, 2024 |  | Weighted Average Useful Life (Years)
($ in thousands) | Gross |  | Accumulated Amortization |  | Net |
Intangible assets: |  |  |  |  |  |  |
Brand and trade names | $ | 2,361 |  |  | $ | (1,852) |  |  | $ | 509 |  |  | 1.6
Developed technology | 20,062 |  |  | (13,304) |  |  | 6,758 |  |  | 3.6
Customer relationships | 27,024 |  |  | (9,665) |  |  | 17,359 |  |  | 8.8
Total intangible assets | $ | 49,447 |  |  | $ | (24,821) |  |  | $ | 24,626 |  |  | 7.2
Goodwill | $ | 94,903 |  |  | $ | — |  |  | $ | 94,903 |  |  | Indefinite
| As of June 30, 2023 |  | Weighted Average Useful Life
($ in thousands) | Gross |  | Accumulated Amortization |  | Net |
Intangible assets: |  |  |  |  |  |  |
Brand and trade names | $ | 2,161 |  |  | $ | (1,414) |  |  | $ | 747 |  |  | 2.0
Developed technology | 20,188 |  |  | (11,066) |  |  | 9,122 |  |  | 4.1
Customer relationships | 24,714 |  |  | (6,771) |  |  | 17,943 |  |  | 10.1
Total intangible assets | $ | 47,063 |  |  | $ | (19,251) |  |  | $ | 27,812 |  |  | 7.9
Goodwill | $ | 92,005 |  |  | $ | — |  |  | $ | 92,005 |  |  | Indefinite
For the years ended June 30, 2024, 2023 and 2022, amortization expense related to intangible assets was $5.6 million, $5.0 million and $3.3 million, respectively. Estimated annual amortization expense for intangible assets is as follows:
($ in thousands) | Amount
2025 | $ | 4,969 |
2026 | 4,771 |
2027 | 4,421 |
2028 | 2,571 |
2029 | 1,208 |
Thereafter | 6,686 |
| $ | 24,626 |

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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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