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Goodwill and Intangible Assets

6 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

4. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The Company had a goodwill balance of $35.7 million at March 31, 2021, representing the excess of costs over fair value of assets of businesses acquired. Goodwill acquired in a business combination and determined to have an indefinite useful life is not amortized, but instead is tested for impairment at least annually in accordance with ASC 350. The following table summarizes changes in the balance of goodwill during the six months ended March 31, 2021 (amounts shown in thousands):

Balance at September 30, 2020			$	35,669
Foreign currency effect on goodwill			59
Balance at March 31, 2021			$	35,728

Intangible Assets

Intangible assets include the value assigned to purchased completed technology, customer relationships, and trade names. The estimated useful lives for all of these intangible assets range from two to seven years. Intangible assets as of March 31, 2021 and September 30, 2020, respectively, are summarized as follows (amounts shown in thousands, except for years):

March 31, 2021:			Weighted Average Amortization Period						Cost						Accumulated Amortization						Net
Completed technologies			6.4 years						$	20,341					$	11,026					$	9,315
Customer relationships			4.8 years						17,628						11,000						6,628
Trade names			4.5 years						618						517						101
Total intangible assets									$	38,587					$	22,543					$	16,044

September 30, 2020:			Weighted Average Amortization Period						Cost						Accumulated Amortization						Net
Completed technologies			6.4 years						$	20,341					$	9,416					$	10,925
Customer relationships			4.8 years						17,628						9,390						8,238
Trade names			4.5 years						618						492						126
Total intangible assets									$	38,587					$	19,298					$	19,289

Amortization expense related to acquired intangible assets was $1.7 million and $1.6 million for the three months ended March 31, 2021 and 2020, respectively, and $3.4 million and $3.2 million during the six months ended March 31, 2021 and 2020, respectively, and is recorded within acquisition-related costs and expenses on the consolidated statements of operations and other comprehensive income (loss).

The estimated future amortization expense related to intangible assets for each of the five succeeding fiscal years is expected to be as follows (amounts shown in thousands):

			Estimated Future Amortization Expense
2021—remaining			$	3,104
2022			5,965
2023			3,915
2024			1,860
2025			1,200
Total			$	16,044

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- References

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-URI http://asc.fasb.org/topic&trid=2144416

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