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Goodwill And Intangible Assets, Net

3 Months Ended

Sep. 30, 2021

Goodwill And Intangible Assets, Net [Abstract]

6.Goodwill and intangible assets, net

Goodwill

Summarized below is the movement in the carrying value of goodwill for the three months ended September 30, 2021:

				Gross value		Accumulated impairment		Carrying value
Balance as of June 30, 2021			$	42,949	$	(13,796)	$	29,153
	Foreign currency adjustment ⁽¹⁾			(1,965)		431		(1,534)
		Balance as of September 30, 2021	$	40,984	$	(13,365)	$	27,619

(1) The foreign currency adjustment represents the effects of the fluctuations between the ZAR and the U.S. dollar on the carrying value.

Goodwill has been allocated to the Company’s reportable segments as follows:


				Processing		Financial services		Technology		Carrying value
Balance as of June 30, 2021			$	11,967	$	-	$	17,186	$	29,153
	Foreign currency adjustment ⁽¹⁾			(609)		-		(925)		(1,534)
		Balance as of September 30, 2021	$	11,358	$	-	$	16,261	$	27,619

(1) The foreign currency adjustment represents the effects of the fluctuations between the ZAR and the U.S. dollar on the carrying value.

Intangible assets, net

Carrying value and amortization of intangible assets

Summarized below is the carrying value and accumulated amortization of the intangible assets as of September 30, 2021, and June 30, 2021:

		As of September 30, 2021						As of June 30, 2021
			Gross carrying value		Accumulated amortization		Net carrying value		Gross carrying value		Accumulated amortization		Net carrying value
Finite-lived intangible assets:
	Customer relationships	$	9,782	$	(9,782)	$	-	$	10,340	$	(10,340)	$	-
	Software and unpatented technology		1,633		(1,633)		-		1,726		(1,726)		-
	FTS patent		2,535		(2,535)		-		2,679		(2,679)		-
	Trademarks		1,907		(1,586)		321		2,015		(1,658)		357
	Total finite-lived intangible assets	$	15,857	$	(15,536)	$	321	$	16,760	$	(16,403)	$	357

6.Goodwill and intangible assets, net (continued)

Intangible assets, net (continued)

Aggregate amortization expense on the finite-lived intangible assets for each of the three months ended September 30, 2021 and 2020, was approximately $0.1 million, respectively.

Future estimated annual amortization expense for the next five fiscal years and thereafter, assuming exchange rates that prevailed on September 30, 2021, is presented in the table below. Actual amortization expense in future periods could differ from this estimate as a result of acquisitions, changes in useful lives, exchange rate fluctuations and other relevant factors.

Fiscal 2022		$	68
Fiscal 2023			68
Fiscal 2024			67
Fiscal 2025			67
Fiscal 2026			67
	Total future estimated annual amortization expense	$	337