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Goodwill and Intangible Assets | 6 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | NOTE 7 – GOODWILL AND INTANGIBLE ASSETS Goodwill Changes in the carrying amount of goodwill are as follows:
(In thousands) |  |  |  |
Balance as of June 30, 2024 |  |  | $ | 93,043 |
Acquisitions |  |  |  | 12,192 |
Foreign currency translation loss |  |  |  | (966 | )
Balance as of December 31, 2024 |  |  | $ | 104,269 |
Intangible Assets Intangible assets consist of the following:
| December 31, 2024 |
(In thousands) | Weighted Average Amortization Period |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Customer related | 9.2 years |  | $ | 139,591 |  |  | $ | (99,212 | ) |  | $ | 40,379 |
Trade names and trademarks | 6.1 years |  |  | 15,132 |  |  |  | (12,800 | ) |  |  | 2,332 |
Developed technology | 1.9 years |  |  | 4,091 |  |  |  | (2,523 | ) |  |  | 1,568 |
Licenses | 2.2 years |  |  | 723 |  |  |  | (560 | ) |  |  | 163 |
Covenants not to compete | 0.1 years |  |  | 889 |  |  |  | (880 | ) |  |  | 9 |
|  |  | $ | 160,426 |  |  | $ | (115,975 | ) |  | $ | 44,451 |
| June 30, 2024 |
(In thousands) | Weighted Average Amortization Period |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Customer related | 8.5 years |  | $ | 125,552 |  |  | $ | (95,383 | ) |  | $ | 30,169 |
Trade names and trademarks | 6.6 years |  |  | 15,382 |  |  |  | (12,857 | ) |  |  | 2,525 |
Developed technology | 2.4 years |  |  | 4,091 |  |  |  | (2,114 | ) |  |  | 1,977 |
Licenses | 2.7 years |  |  | 760 |  |  |  | (551 | ) |  |  | 209 |
Covenants not to compete | 0.6 years |  |  | 1,433 |  |  |  | (1,370 | ) |  |  | 63 |
|  |  | $ | 147,218 |  |  | $ | (112,275 | ) |  | $ | 34,943 |
Amortization expense amounted to $3,002 and $5,809 for the three and six months ended December 31, 2024, respectively, and $2,554 and $5,197 for the three and six months ended December 31, 2023, respectively. Future amortization expense for each of the next five fiscal years ending June 30 are as follows:
(In thousands) |  |  |  |
2025 (remaining) |  |  | $ | 4,423 |
2026 |  |  |  | 5,876 |
2027 |  |  |  | 5,306 |
2028 |  |  |  | 4,700 |
2029 |  |  |  | 4,117 |

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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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