Goodwill And Intangible Assets, Net

6 Months Ended

Dec. 31, 2023

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 six months ended December 31, 2023:

Gross value

Accumulated

impairment

Carrying

value

Balance as of June 30, 2023

$

152,619

$

(18,876)

$

133,743

Foreign currency adjustment

(1)

4,308

(385)

3,923

Balance as of December 31, 2023

$

156,927

$

(19,261)

$

137,666

(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

Carrying value

Balance as of June 30, 2023

$

-

$

133,743

$

133,743

Foreign currency adjustment

(1)

-

3,923

3,923

Balance as of December 31, 2023

$

-

$

137,666

$

137,666

(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.

Intangible assets, net

Carrying value and amortization of intangible assets

Summarized below is the carrying value and accumulated amortization of intangible assets as of December 31, 2023, and June

30, 2023:

As of December 31, 2023

As of June 30, 2023

Gross

carrying

value

Accumulated

amortization

Net

carrying

value

Gross

carrying

value

Accumulated

amortization

Net

carrying

value

Finite-lived intangible assets:

Customer relationships

$

25,715

$

(12,924)

$

12,791

$

24,978

$

(11,565)

$

13,413

Software, integrated

platform and unpatented

technology

114,360

(19,849)

94,511

110,906

(13,711)

97,195

FTS patent 

2,094

(2,094)

-

2,034

(2,034)

-

Brands and trademarks

14,260

(3,609)

10,651

13,852

(2,863)

10,989

Total finite-lived intangible

assets 

$

156,429

$

(38,476)

$

117,953

$

151,770

$

(30,173)

$

121,597

Aggregate amortization expense on the finite-lived intangible assets for the three months ended December 31, 2023 and 2022,

was $

3.6

 million and $

3.9

 million, respectively. Aggregate amortization expense on the finite-lived intangible assets for the six months

ended December 31, 2023 and 2022, was $

7.2

 million and $

7.8

 million, respectively. Future estimated annual amortization expense

for the next five fiscal years and thereafter, assuming exchange rates that prevailed on December 31, 2023, 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 2024 (six months ended December 31, 2023)

$

7,409

Fiscal 2025

14,824

Fiscal 2026

14,825

Fiscal 2027

14,768

Fiscal 2028

14,736

Thereafter

51,391

Total future estimated annual amortization expense

$

117,953