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Goodwill And Intangible Assets, Net | 6 Months Ended
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Dec. 31, 2024
Goodwill And Intangible Assets, Net [Abstract] |
Goodwill And Intangible Assets, Net | 7. Goodwill and intangible assets, net Goodwill Summarized below is the movement in the carrying value of goodwill for the three months ended December 31, 2024: Gross value Accumulated impairment Carrying value Balance as of June 30, 2024 $ 157,899 $ (19,348) $ 138,551 Acquisitions (Note 2) (1) 72,731 - 72,731 Foreign currency adjustment (2) (10,989) 467 (10,522) Balance as of December 31, 2024 $ 219,641 $ (18,881) $ 200,760 (1) – Represents goodwill arising from the acquisition of Adumo and IVAS Namibia and translated at the foreign exchange rates applicable on the date the transactions became effective. This goodwill has been allocated to the Merchant and Consumer reportable operating segments. (2) – 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 associated with the acquisitions represents the excess of cost over the fair value of acquired net assets. Goodwill arising from these acquisitions is not deductible for tax purposes. See Note 2 for the allocation of the purchase price to the fair value of acquired net assets. Refer to Note 7 for additional information regarding changes to the Company’s reportable segments during the six months ended December 31, 2024. Goodwill has been allocated to the Company’s reportable segments as follows: Merchant Consumer Enterprise Carrying value Balance as of June 30, 2024 $ 123,396 $ - $ 15,155 $ 138,551 Acquisitions (Note 2) 64,241 8,490 - 72,731 Foreign currency adjustment (1) (9,327) (674) (521) (10,522) Balance as of December 31, 2024 $ 178,310 $ 7,816 $ 14,634 $ 200,760 (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 December 31, 2024, and June 30, 2024: As of December 31, 2024 As of June 30, 2024 Gross carrying value Accumulated amortization Net carrying value Gross carrying value Accumulated amortization Net carrying value Finite-lived intangible assets: Customer relationships (1) $ 34,945 $ (14,941) $ 20,004 $ 25,880 $ (14,030) $ 11,850 Software, integrated platform and unpatented technology (1) 124,690 (31,056) 93,634 115,213 (25,763) 89,450 FTS patent 2,035 (2,035) - 2,107 (2,107) - Brands and trademarks (1) 17,191 (4,865) 12,326 14,353 (4,300) 10,053 Total finite-lived intangible assets $ 178,861 $ (52,897) $ 125,964 $ 157,553 $ (46,200) $ 111,353 (1) December 31, 2024 balances include the intangible assets acquired as part of the Adumo acquisition in October 2024. 7. Goodwill and intangible assets, net (continued) Intangible assets, net (continued) Aggregate amortization expense on the finite-lived intangible assets for the three months ended December 31, 2024 and 2023, was $ 4.9 million and $ 3.6 million, respectively. Aggregate amortization expense on the finite-lived intangible assets for the six months ended December 31, 2024 and 2023, was $ 8.8 million and $ 7.2 million, respectively. Future estimated annual amortization expense for the next five fiscal years and thereafter, assuming exchange rates that prevailed on December 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 2025 (excluding six months ended December 31, 2024) $ 9,291 Fiscal 2026 18,581 Fiscal 2027 18,286 Fiscal 2028 18,061 Fiscal 2029 17,699 Thereafter 44,046 Total future estimated annual amortization expense $ 125,964

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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