Goodwill And Intangible Assets, Net

9 Months Ended

Mar. 31, 2022

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, 2022:

				Gross value		Accumulated impairment		Carrying value
Balance as of June 30, 2021			$	42,949	$	(13,796)	$	29,153
	Foreign currency adjustment (1)			(630)		138		(492)
		Balance as of March 31, 2022	$	42,319	$	(13,658)	$	28,661

(1) The foreign currency adjustment represents the effects of the fluctuations between the ZAR and the U.S. dollar on the carrying value.

Refer to Note 17 for additional information regarding changes to the Company’s reportable segments during the three months ended December 31, 2021. Goodwill has been allocated to the Company’s reportable segments as follows:

			Consumer		Merchant		Other		Carrying value
Balance as of June 30, 2021			$	-	$	28,496	$	657	$	29,153
	Foreign currency adjustment (1)			-		(492)		-		(492)
		Balance as of March 31, 2022	$	-	$	28,004	$	657	$	28,661

(1) The foreign currency adjustment represents the effects of the fluctuations between the ZAR and the U.S. dollar on the carrying value.

6.Goodwill and intangible assets, net (continued)

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, 2022, and June 30, 2021:

		As of March 31, 2022						As of June 30, 2021
			Gross carrying value		Accumulated amortization		Net carrying value		Gross carrying value		Accumulated amortization		Net carrying value
Finite-lived intangible assets:
	Customer relationships	$	9,683	$	(9,683)	$	-	$	10,340	$	(10,340)	$	-
	Software and unpatented technology		390		(390)		-		1,726		(1,726)		-
	FTS patent		2,633		(2,633)		-		2,679		(2,679)		-
	Trademarks		1,980		(1,682)		298		2,015		(1,658)		357
	Total finite-lived intangible assets	$	14,686	$	(14,388)	$	298	$	16,760	$	(16,403)	$	357

Aggregate amortization expense on the finite-lived intangible assets for each of the three months ended March 31, 2022 and 2021, was approximately $0.1 million. Aggregate amortization expense on the finite-lived intangible assets for the nine months ended March 31, 2022 and 2021, was approximately $0.1 million and $0.3 million, respectively.

Future estimated annual amortization expense for the next five fiscal years and thereafter, assuming exchange rates that prevailed on March 31, 2022, 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 2022		$	71
Fiscal 2023			71
Fiscal 2024			70
Fiscal 2025			70
Fiscal 2026			70
	Total future estimated annual amortization expense	$	352