Goodwill And Intangible Assets, Net

3 Months Ended

Sep. 30, 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 three months ended September 30, 2022:

				Gross value		Accumulated impairment		Carrying value
Balance as of June 30, 2022			$	175,476	$	(12,819)	$	162,657
	Foreign currency adjustment (1)			(16,162)		672		(15,490)
		Balance as of September 30, 2022	$	159,314	$	(12,147)	$	147,167

(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.

Goodwill has been allocated to the Company’s reportable segments as follows:

			Consumer		Merchant		Other		Carrying value
Balance as of June 30, 2022			$	-	$	162,000	$	657	$	162,657
	Foreign currency adjustment (1)			-		(15,490)		-		(15,490)
		Balance as of September 30, 2022	$	-	$	146,510	$	657	$	147,167

(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.

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 September 30, 2022, and June 30, 2022:

		As of September 30, 2022						As of June 30, 2022
			Gross carrying value		Accumulated amortization		Net carrying value		Gross carrying value		Accumulated amortization		Net carrying value
Finite-lived intangible assets:
	Customer relationships	$	26,123	$	(10,545)	$	15,578	$	26,937	$	(9,140)	$	17,797
	Software, integrated platform and unpatented technology		115,566		(5,662)		109,904		127,785		(3,075)		124,710
	FTS patent		2,127		(2,127)		-		2,352		(2,352)		-
	Brands and trademarks		14,487		(1,985)		12,502		16,018		(1,823)		14,195
	Total finite-lived intangible assets	$	158,303	$	(20,319)	$	137,984	$	173,092	$	(16,390)	$	156,702

Aggregate amortization expense on the finite-lived intangible assets for the three months ended September 30, 2022 and 2021, was approximately $4.0 million and $0.1 million, respectively.

Future estimated annual amortization expense for the next five fiscal years and thereafter, assuming exchange rates that prevailed on September 30, 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 2023 (nine months ended June 30, 2023)		$	11,202
Fiscal 2024			14,938
Fiscal 2025			14,938
Fiscal 2026			14,938
Fiscal 2027			14,881
Thereafter			67,087
	Total future estimated annual amortization expense	$	137,984