Goodwill and Intangible Assets

6 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

9. GOODWILL AND INTANGIBLE ASSETS

Goodwill is attributable to the acquisitions of Genasys Spain, Zonehaven, Evertel, and the Amika Mobile asset purchase and is due to combining the integrated critical communications, mass messaging solutions and software development capabilities with existing hardware products for enhanced offerings and the skill level of the acquired workforces. The Company periodically reviews goodwill for impairment in accordance with relevant accounting standards. As of March 31, 2025 and September 30, 2024, goodwill was $13,257 and $13,329, respectively. There were no additions or impairments to goodwill during the six months ended March 31, 2025. During the six months ended March 31, 2024, $2,923 was added to goodwill as a result of the Evertel acquisition.

The changes in the carrying amount of goodwill by segment as of March 31, 2025, were as follows:


	Hardware		Software			Total
Balance as of September 30, 2024	$	—	$	13,329		$	13,329
Acquisitions		—		—			—
Currency translation		—		(72	)		(72	)
Balance as of March 31, 2025	$	—	$	13,257		$	13,257

The changes in the carrying amount of intangible assets by segment as of March 31, 2025, were as follows:


	Hardware			Software			Total
Balance as of September 30, 2024	$	14		$	8,492		$	8,506
Acquisitions		—			—			—
Amortization		(1	)		(1,201	)		(1,202	)
Currency translation		—			(3	)		(3	)
Balance as of March 31, 2025	$	13		$	7,288		$	7,301

Intangible assets and goodwill related to Genasys Spain are translated from Euros to U.S. dollars at the balance sheet date. The net impact of foreign currency exchange differences arising during the period related to goodwill and intangible assets was a decrease of $75.

The Company’s consolidated intangible assets consisted of the following:


	March 31, 2025			September 30, 2024
Technology	$	14,233		$	14,252
Customer relationships		2,063			2,081
Trade name portfolio		610			617
Patents		72			72
		16,978			17,022
Accumulated amortization		(9,677	)		(8,516	)
	$	7,301		$	8,506

As of March 31, 2025, future amortization expense was as follows:


Fiscal year ending September 30,
2025 (remaining six months)		1,153
2026		2,222
2027		2,048
2028		1,220
2029		329
Thereafter		329
Total estimated amortization expense	$	7,301

Amortization expense was $584 and $619 for the three months ended March 31, 2025 and 2024, respectively. Amortization expense was $1,202 and $1,239 for the six months ended March 31, 2025 and 2024, respectively.