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Goodwill and Intangible Assets (Tables)
12 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Goodwill

The following table reflects the changes in the carrying amount of goodwill (in thousands):

 

 

June 30,
2024

 

 

June 30,
2023

 

Balance at beginning of period

 

$

394,755

 

 

$

400,144

 

Foreign currency translation

 

 

(1,046

)

 

 

(5,389

)

        Balance at end of period

 

$

393,709

 

 

$

394,755

 

Components of Gross and Net Intangible Asset Balances

The following tables summarize the components of gross and net intangible asset balances (in thousands, except years):

 

 

Weighted Average

 

 

 

 

 

 

 

 

 

 

 

Remaining Amortization

 

Gross Carrying

 

 

Accumulated

 

 

Net Carrying

 

 

 

Period

 

Amount

 

 

Amortization

 

 

Amount

 

June 30, 2024

 

 

 

 

 

 

 

 

 

 

 

Developed technology

 

3.0 years

 

$

169,247

 

 

$

162,708

 

 

$

6,539

 

Customer relationships

 

2.0 years

 

 

64,671

 

 

 

60,776

 

 

 

3,896

 

Trade names

 

0.0 years

 

 

10,700

 

 

 

10,700

 

 

 

 

License agreements

 

2.4 years

 

 

1,282

 

 

 

1,104

 

 

 

178

 

Total intangible assets, net*

 

 

 

$

245,901

 

 

$

235,288

 

 

$

10,613

 

* The carrying amount of foreign intangible assets are affected by foreign currency translation

 

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

 

 

 

Remaining Amortization

 

Gross Carrying

 

 

Accumulated

 

 

Net Carrying

 

 

 

Period

 

Amount

 

 

Amortization

 

 

Amount

 

June 30, 2023

 

 

 

 

 

 

 

 

 

 

 

Developed technology

 

4.1 years

 

$

169,460

 

 

$

159,592

 

 

$

9,868

 

Customer relationships

 

3.4 years

 

 

64,839

 

 

 

58,894

 

 

 

5,945

 

Trade names

 

0.0 years

 

 

10,700

 

 

 

10,700

 

 

 

 

License agreements

 

3.4 years

 

 

2,445

 

 

 

2,195

 

 

 

250

 

Total intangible assets, net*

 

 

$

247,444

 

 

$

231,381

 

 

$

16,063

 

* The carrying amount of foreign intangible assets are affected by foreign currency translation

 

 

 

 

Summary of Amortization Expense of Intangible Assets

The following table summarizes the amortization expense of intangible assets for the periods presented (in thousands):

 

 

Year Ended

 

 

 

June 30,
2024

 

 

June 30,
2023

 

 

June 30,
 2022

 

Amortization of intangible assets in “Total cost of revenues”

 

$

3,272

 

 

$

12,941

 

 

$

16,711

 

Amortization of intangible assets in “Total operating expenses”

 

 

2,041

 

 

 

2,047

 

 

 

3,235

 

Total amortization expense

 

$

5,313

 

 

$

14,988

 

 

$

19,946

 

Schedule of Expected Amortization Expenses

The estimated future amortization expense to be recorded for each of the respective future fiscal years is as follows (in thousands):

 

 

Amount

 

For the fiscal year ending June 30:

 

 

 

2025

 

$

4,453

 

2026

 

 

3,193

 

2027

 

 

1,431

 

2028

 

 

1,271

 

2029

 

 

265

 

Total

 

$

10,613