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Goodwill And Intangible Assets, Net | 9 Months Ended
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Mar. 31, 2023
Goodwill And Intangible Assets, Net [Abstract] |
Goodwill And Intangible Assets, Net | 6.Goodwill and intangible assets, net Goodwill Summarized below is the movement in the carrying value of goodwill for the nine months ended March 31, 2023:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | Gross value |  |  | Accumulated impairment |  |  | Carrying value |
|  | Balance as of June 30, 2022 |  | $ | 175,476 |  | $ | (12,819) |  | $ | 162,657 |
|  |  | Foreign currency adjustment (1) |  |  | (14,279) |  |  | 593 |  |  | (13,686) |
|  |  |  | Balance as of March 31, 2023 |  | $ | 161,197 |  | $ | (12,226) |  | $ | 148,971 |
(1) – The foreign currency adjustment represents the effects of the fluctuations of the South African rand against the U.S. dollar on the carrying value. Refer to Note 17 for additional information regarding changes to the Company’s reportable segments during the nine months ended March 31, 2023. Goodwill has been allocated to the Company’s reportable segments as follows:
|  |  |  |  |  | Consumer |  | Merchant |  | Carrying value
|  | Balance as of June 30, 2022 |  | $ | - |  | $ | 162,657 |  | $ | 162,657
|  |  | Foreign currency adjustment (1) |  |  | - |  |  | (13,686) |  |  | (13,686)
|  |  |  | Balance as of March 31, 2023 |  | $ | - |  | $ | 148,971 |  | $ | 148,971
(1) The foreign currency adjustment represents the effects of the fluctuations of the South African rand against 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 intangible assets as of March 31, 2023, and June 30, 2022:
|  |  |  |  | As of March 31, 2023 |  | As of June 30, 2022 |
|  |  |  |  |  | Gross carrying value |  |  | Accumulated amortization |  |  | Net carrying value |  |  | Gross carrying value |  |  | Accumulated amortization |  |  | Net carrying value |
| Finite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Customer relationships | $ | 26,443 |  | $ | (11,720) |  | $ | 14,723 |  | $ | 26,937 |  | $ | (9,140) |  | $ | 17,797 |
|  | Software, integrated platform and unpatented technology |  | 117,232 |  |  | (11,579) |  |  | 105,653 |  |  | 127,785 |  |  | (3,075) |  |  | 124,710 |
|  | FTS patent |  | 2,153 |  |  | (2,153) |  |  | - |  |  | 2,352 |  |  | (2,352) |  |  | - |
|  | Brands and trademarks |  | 14,664 |  |  | (2,690) |  |  | 11,974 |  |  | 16,018 |  |  | (1,823) |  |  | 14,195 |
|  | Total finite-lived intangible assets | $ | 160,492 |  | $ | (28,142) |  | $ | 132,350 |  | $ | 173,092 |  | $ | (16,390) |  | $ | 156,702 |
Aggregate amortization expense on the finite-lived intangible assets for the three months ended March 31, 2023 and 2022, was approximately $3.8 million and $0.1 million, respectively. Aggregate amortization expense on the finite-lived intangible assets for the nine months ended March 31, 2023 and 2022, was approximately $11.6 million and $0.1 million, respectively. Future estimated annual amortization expense for the next five fiscal years and thereafter, assuming exchange rates that prevailed on March 31, 2023, 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 2023 (three months ended June 30, 2023) |  | $ | 3,791 |
| Fiscal 2024 |  |  | 15,170 |
| Fiscal 2025 |  |  | 15,170 |
| Fiscal 2026 |  |  | 15,170 |
| Fiscal 2027 |  |  | 15,114 |
| Thereafter |  |  | 67,935 |
|  | Total future estimated annual amortization expense |  |  |  |  |  |  |  |  | $ | 132,350 |

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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 + Details
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