Goodwill and Intangible Assets

9 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Note 5. Goodwill and Intangible Assets

Goodwill

Activity related to goodwill consisted of the following (in thousands):

	March 31, 2024		June 30, 2023
Balance at the beginning of the period	$	57,681	$	57,840
Currency translation		1		(159	)
Balance at the end of the period	$	57,682	$	57,681

The Company performed its annual goodwill impairment test in the second quarter of fiscal year 2024 and determined that there was no impairment to goodwill. In the third quarter of fiscal year 2024, the Company determined that its decline in cash flows and a downward adjustment to the fiscal year 2024 annual guidance constituted triggering events for the impairment of goodwill. The Company performed an interim goodwill impairment test and it determined that there was no impairment to goodwill as of March 31, 2024. The Company will continue to monitor its recorded goodwill for indicators of impairment.

Purchased Intangible Assets

The Company’s carrying amount of acquired intangible assets, net, consisted of the following (in thousands):

	March 31, 2024							June 30, 2023
	Gross Carrying Amount		Accumulated Amortization			Net Amount		Gross Carrying Amount		Accumulated Amortization			Net Amount
Patent license	$	1,000	$	(1,000	)	$	-	$	1,000	$	(893	)	$	107
Other intangibles		132		(62	)		70		132		(29	)		103
Total intangible assets	$	1,132	$	(1,062	)	$	70	$	1,132	$	(922	)	$	210

The Company did not identify any triggering events that would indicate a potential impairment of its definite-lived intangible and long-lived assets as of March 31, 2024.

The estimated future amortization expense of acquired intangible assets, net, as of March 31, 2024, is as follows (in thousands):

	Amount
2024 (remaining three months)	$	11
2025		44
2026		15
Total estimated future amortization expense	$	70