Goodwill and Intangible Assets

3 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

5. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The Company had a goodwill balance of $62.3 million at December 31, 2021, representing the excess of costs over fair value of assets of businesses acquired. Goodwill acquired in a business combination and determined to have an indefinite useful life is not amortized, but instead is tested for impairment at least annually in accordance with ASC 350. The following table summarizes changes in the balance of goodwill during the three months ended December 31, 2021 (amounts shown in thousands):

Balance at September 30, 2021	$	63,096
Foreign currency effect on goodwill	(791)
Balance at December 31, 2021	$	62,305

Intangible Assets

Intangible assets include the value assigned to purchased completed technology, customer relationships, and trade names. The estimated useful lives for all of these intangible assets range from two to seven years. Intangible assets as of December 31, 2021 and September 30, 2021, respectively, are summarized as follows (amounts shown in thousands, except for years):

December 31, 2021:	Weighted Average Amortization Period	Cost		Accumulated Amortization		Net
Completed technologies	6.6 years	$	34,361	$	14,680	$	19,681
Customer relationships	4.6 years	20,168		13,953		6,215
Trade names	4.7 years	988		599		389
Total intangible assets		$	55,517	$	29,232	$	26,285

September 30, 2021:	Weighted Average Amortization Period	Cost		Accumulated Amortization		Net
Completed technologies	6.6 years	$	34,361	$	13,311	$	21,050
Customer relationships	4.6 years	20,168		12,905		7,263
Trade names	4.7 years	988		567		421
Total intangible assets		$	55,517	$	26,783	$	28,734

Amortization expense related to acquired intangible assets was $2.2 million and $1.7 million for the three months ended December 31, 2021 and 2020, respectively, and is recorded within acquisition-related costs and expenses on the consolidated statements of operations and other comprehensive income.

The estimated future amortization expense related to intangible assets for each of the five succeeding fiscal years is expected to be as follows (amounts shown in thousands):

	Estimated Future Amortization Expense
2022—remaining	$	6,532
2023	6,721
2024	4,428
2025	3,236
2026	2,051
Thereafter	3,317
Total	$	26,285