Goodwill and intangible assets

9 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets

Goodwill and intangible assets

There were no changes to the carrying value of goodwill during the nine months ended June 30, 2023. Total amortization expense related to intangible assets was $1.3 million for the three months ended June 30, 2023 and $1.4 million for the three months ended June 30, 2022. Total amortization expense related to intangible assets was $3.9 million and $3.6 million for the nine months ended June 30, 2023 and 2022, respectively.

The goodwill balance is presented below:

(in thousands)	June 30, 2023		September 30, 2022
Balance at beginning of period/year	$	85,811	$	22,434
Business acquisition – additions	—		61,768
Remeasurement adjustments to the deferred tax assets	—		1,609
Balance at end of period/year	$	85,811	$	85,811

The intangible assets balances are presented below:

	June 30, 2023
(in thousands, except for years)	Weighted average Amortization period in years	Gross carrying amount		Accumulated amortization		Net book value
Developed Technology	15	$	50,020	$	(6,821)	$	43,199
Customer Relationships	11	15,210		(3,059)		12,151
Tradenames & Trademarks	3	900		(475)		425
Total finite-lived intangible assets		$	66,130	$	(10,355)	$	55,775

	September 30, 2022
(in thousands, except for years)	Weighted average Amortization period in years	Gross carrying amount		Accumulated amortization		Net book value
Developed Technology	15	$	50,020	$	(4,375)	$	45,645
Customer Relationships	11	15,210		(1,767)		13,443
Tradenames & Trademarks	3	900		(250)		650
Total finite-lived intangible assets		$	66,130	$	(6,392)	$	59,738