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Software—Net

9 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Software—Net

SOFTWARE—NET

Software—net consisted of the following:

(in thousands)			March 31, 2021						June 30, 2020
Software			$	14,197					$	10,999
Work in progress			3,880						1,922
Total			18,077						12,921
Less accumulated amortization			(6,564)						(4,522)
Software—net			$	11,513					$	8,399

Work in progress as of March 31, 2021 and June 30, 2020, primarily represents costs incurred for software not yet put into service and are not yet being depreciated. For the three months ended March 31, 2021 and 2020, the Company capitalized internal-use software and website development costs of $2.2 million and $2.0 million, respectively, and recorded amortization expense of $1.0 million and $0.7 million, respectively. For the nine months ended March 31, 2021 and 2020, the Company capitalized internal-use software and website development costs of $5.4 million and $4.4 million, respectively, and recorded amortization expense of $2.7 million and $1.5 million, respectively.

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- References

No definition available.

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- Definition

The entire disclosure for research, development, and computer software activities, including contracts and arrangements to be performed for others and with federal government. Includes costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility and in-process research and development acquired in a business combination consummated during the period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 985
-SubTopic 730
-URI http://asc.fasb.org/subtopic&trid=2197926

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