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Goodwill And Intangible Assets, Net
9 Months Ended
Mar. 31, 2024
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, 2024:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross value
Accumulated
impairment
Carrying
value
Balance as of June 30, 2023
$
152,619
$
(18,876)
$
133,743
Foreign currency adjustment
(1)
 
(297)
27
(270)
Balance as of March 31, 2024
$
152,322
$
(18,849)
$
133,473
(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.
Goodwill has been allocated to the Company’s
 
reportable segments as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consumer
Merchant
Carrying value
Balance as of June 30, 2023
$
-
$
133,743
$
133,743
Foreign currency adjustment
(1)
 
-
(270)
(270)
Balance as of March 31, 2024
$
-
$
133,473
$
133,473
(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,
 
2024, and June
 
30,
2023:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of March 31, 2024
As of June 30, 2023
Gross
carrying
value
Accumulated
amortization
Net
carrying
value
Gross
carrying
value
Accumulated
amortization
Net
carrying
value
Finite-lived intangible assets:
Customer relationships
$
24,927
$
(13,021)
$
11,906
$
24,978
$
(11,565)
$
13,413
Software, integrated
platform and unpatented
technology
110,914
(22,026)
88,888
110,906
(13,711)
97,195
FTS patent
 
2,030
(2,030)
-
2,034
(2,034)
-
Brands and trademarks
13,824
(3,820)
10,004
13,852
(2,863)
10,989
Total finite-lived
 
intangible
assets
 
$
151,695
$
(40,897)
$
110,798
$
151,770
$
(30,173)
$
121,597
Aggregate amortization
 
expense on the finite-lived
 
intangible assets for the
 
three months ended March
 
31, 2024 and 2023,
 
was
$
3.6
 
million and $
3.8
 
million, respectively.
 
Aggregate amortization
 
expense on the
 
finite-lived intangible assets
 
for the nine
 
months
ended March 31, 2024 and 2023, was $
10.8
 
million and $
11.6
 
million, respectively. Future estimated annual amortization expense for
the next five
 
fiscal years and
 
thereafter,
 
assuming exchange
 
rates that prevailed
 
on March
 
31, 2024,
 
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 2024 (three months ended March 31, 2024)
$
3,594
Fiscal 2025
14,382
Fiscal 2026
14,382
Fiscal 2027
14,327
Fiscal 2028
14,295
Thereafter
49,818
Total future
 
estimated annual amortization expense
$
110,798