Goodwill and Intangible Assets

6 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

9. GOODWILL AND INTANGIBLE ASSETS

Goodwill is an intangible asset that arises when a company acquires an existing business or assets (net of assumed liabilities) which comprise a business. In general, the amount of goodwill recorded in an acquisition is calculated as the purchase price of the business minus the fair market value of the tangible assets and the identifiable intangible assets, net of the assumed liabilities. Goodwill and intangibles can also be established by push-down accounting.

Carrying Value

The carrying value of goodwill and other purchased intangibles are described below (dollar amounts in thousands):

			December 31, 2025										June 30, 2025
	Estimated Useful Lives (Years)	Remaining Weighted-Average Amortization Period (Years)	Gross Carrying Amount		Accumulated Amortization			Accumulated Impairment			Net Book Value		Gross Carrying Amount		Accumulated Amortization			Accumulated Impairment			Net Book Value
Identifiable intangible assets:
Existing customer relationships	4 - 15	4.0	$	118,274	$	(75,246	)	$	—		$	43,028	$	116,568	$	(66,215	)	$	—		$	50,353
Developed technology	4	2.6		21,836		(14,780	)		—			7,056		21,836		(13,362	)		—			8,474
Non-compete and other	3 - 5	1.7		2,310		(2,307	)		—			3		2,310		(2,306	)		—			4
Employment agreement	1 - 3	0.0		295		(295	)		—			—		295		(295	)		—			—
Intangibles subject to amortization				142,715		(92,628	)		—			50,087		141,009		(82,178	)		—			58,831
Trade names and trademarks	Indefinite	Indefinite		69,658		—			(1,290	)		68,368		69,658		—			(1,290	)		68,368
Domain name	Indefinite	Indefinite		8,847		—			—			8,847		8,615		—			—			8,615
In-process research and development	Indefinite	Indefinite		1,500		—			—			1,500		1,500		—			—			1,500
Identifiable intangible assets			$	222,720	$	(92,628	)	$	(1,290	)	$	128,802	$	220,782	$	(82,178	)	$	(1,290	)	$	137,314
Goodwill	Indefinite	Indefinite	$	230,060	$	—		$	(1,364	)	$	228,696	$	230,014	$	—		$	(1,364	)	$	228,650

The Company's intangible assets are subject to amortization except for trade names, trademarks, domain names and in-process research and development assets, which have indefinite lives. Amortization expense related to the Company's intangible assets was $5.2 million and $3.8 million for the three months ended December 31, 2025 and 2024, respectively, and $10.4 million and $7.7 million for the six months ended December 31, 2025 and 2024, respectively. For the presented periods, amortization expense allocable to cost of sales was not significant.

Impairment

We recorded a non-recurring impairment charge of $2.7 million (goodwill and indefinite-lived intangible assets) in fiscal 2018 related to Goldline. Other than the impairment charge related to Goldline, we have not recorded any impairment of goodwill or indefinite-lived intangible assets.

Estimated Amortization

Estimated annual amortization expense related to definite-lived intangible assets for the succeeding five years and thereafter is as follows (in thousands):

Fiscal Year Ending June 30,	Amount
2026 (remainder)	$	10,263
2027		15,734
2028		12,184
2029		5,784
2030		3,067
Thereafter		3,055
	$	50,087