Goodwill and Intangible Assets

9 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

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		23,315
Foreign currency translation loss		(973	)

Balance as of March 31, 2025	$	115,385

Intangible Assets

Intangible assets consist of the following:


	March 31, 2025
(In thousands)	Weighted Average Amortization Period	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Customer related	9.4 years	$	145,852	$	(101,812	)	$	44,040
Trade names and trademarks	5.9 years		15,130		(12,894	)		2,236
Developed technology	1.7 years		4,091		(2,727	)		1,364
Licenses	2.0 years		723		(578	)		145
Covenants not to compete	−		889		(889	)		—

		$	166,685	$	(118,900	)	$	47,785


	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 $3,012 and $8,821 for the three and nine months ended March 31, 2025, respectively, and $2,583 and $7,780 for the three and nine months ended March 31, 2024, respectively. Future amortization expense for each of the next five fiscal years ending June 30 are as follows:


(In thousands)
2025 (remaining)	$	1,697
2026		6,503
2027		5,933
2028		5,327
2029		4,744