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Goodwill and Intangible Assets
3 Months Ended
Sep. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

Note 6. Goodwill and Intangible Assets

Goodwill

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

 

 

 

September 30,

2021

 

 

June 30,

2021

 

Balance at the beginning of the period

 

$

57,960

 

 

$

57,717

 

Currency translation

 

 

(9

)

 

 

243

 

Balance at the end of the period

 

$

57,951

 

 

$

57,960

 

 

In the second quarter of fiscal 2021, the Company performed its annual goodwill impairment test and determined that there was no impairment to goodwill. The Company did not identify any triggering events that would indicate potential impairment of its definite-lived intangible and long-lived assets as of September 30, 2021.

Intangible Assets

The Company’s carrying amount of acquired intangible assets, net, is as follows (in thousands):

 

 

 

 

 

September 30, 2021

 

 

June 30, 2021

 

 

 

Useful

Lives

 

Gross

Carrying

Amount

 

 

Accumulated

Amortization

 

 

Net

Amount

 

 

Gross

Carrying

Amount

 

 

Accumulated

Amortization

 

 

Net

Amount

 

 

 

(in years)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Patent license

 

2 - 7

 

$

1,170

 

 

$

(792

)

 

$

378

 

 

$

1,170

 

 

$

(735

)

 

$

435

 

 

During fiscal 2017, the Company purchased a patent license with a useful life of seven years. During the quarter ending March 31, 2020, the Company purchased a patent license for $170 thousand with a useful life of two years. The Company did not identify any triggering events that would indicate potential impairment of its definite-lived intangible and long-lived assets as of September 30, 2021 and June 30, 2021.

Amortization expense related to intangible assets for the three months ended September 30, 2021 and 2020 were $0.06 million for both periods.

 

The estimated future amortization expense of acquired intangible assets as of September 30, 2021 is as follows (in thousands):

 

Year Ending June 30,

 

Amount

 

2022 (remaining 9 months)

 

$

128

 

2023

 

 

143

 

2024

 

 

107

 

2025

 

 

 

 

 

$

378