Intangible Assets

3 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

5. Intangible Assets

The Company’s finite-lived intangible assets are stated at cost less accumulated amortization and include developed technology and trade name assets acquired in the asset acquisition discussed in Note 4, as well as costs incurred to obtain patents. Developed technology and trade name assets are amortized over 15 years. Patent costs are amortized beginning at the time of patent approval over a useful life not exceeding 20 years.

The components of intangible assets, net are as follows:

	September 30, 2020						June 30, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
Developed technology	$	15,624	$	(1,215)	$	14,409	$	15,624	$	(955)	$	14,669
Patents	1,882		(690)		1,192		1,882		(659)		1,223
Trade name	760		(59)		701		760		(46)		714
Total intangible assets, net	$	18,266	$	(1,964)	$	16,302	$	18,266	$	(1,660)	$	16,606

Amortization expense expected for the next five years and thereafter is as follows:

Remainder of fiscal 2021	$	912
Fiscal 2022	1,216
Fiscal 2023	1,212
Fiscal 2024	1,208
Fiscal 2025	1,205
Thereafter	10,549
	$	16,302