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Goodwill And Intangible Assets, Net

9 Months Ended

Mar. 31, 2023

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 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