Intangible Assets

12 Months Ended

Jun. 30, 2022

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 above, as well as capitalized patent costs. 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:

	June 30, 2022						June 30, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
Developed technology	$	17,324	$	(3,165)	$	14,159	$	15,624	$	(1,997)	$	13,627
Patents	1,866		(903)		963		1,866		(780)		1,086
Trade name	760		(148)		612		760		(97)		663
Total intangible assets, net	$	19,950	$	(4,216)	$	15,734	$	18,250	$	(2,874)	$	15,376

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

Fiscal 2023	$	1,381
Fiscal 2024	1,377
Fiscal 2025	1,374
Fiscal 2026	1,373
Fiscal 2027	1,371
Thereafter	8,858
	$	15,734