GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

5. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The Company had a goodwill balance of $126.3 million at June 30, 2024, representing the excess of costs over fair value of assets of businesses acquired. The following table summarizes changes in the balance of goodwill during the nine months ended June 30, 2024 (amounts shown in thousands):

Balance at September 30, 2023	$	123,548
Foreign currency effect on goodwill	2,723
Balance at June 30, 2024	$	126,271

There was no impairment loss recognized related to goodwill in the three or nine months ended June 30, 2024 or 2023.

Intangible Assets

Intangible assets include the value assigned to purchased completed technology, customer relationships, trade names and covenants not to compete. The estimated useful lives for all of these intangible assets range from three to seven years and they are amortized on a straight-line basis. Intangible assets as of June 30, 2024 and September 30, 2023, respectively, are summarized as follows (amounts in thousands, except for years):

June 30, 2024:	Weighted Average Amortization Period (in years)	Cost		Accumulated Amortization		Net
Completed technologies	6.9	$	95,761	$	46,684	$	49,077
Customer relationships	4.7	25,168		22,553		2,615
Trade names	5.0	7,088		3,757		3,331
Covenants not to compete	3.0	600		460		140
Total intangible assets		$	128,617	$	73,454	$	55,163

September 30, 2023:	Weighted Average Amortization Period (in years)	Cost		Accumulated Amortization		Net
Completed technologies	6.9	$	95,761	$	39,254	$	56,507
Customer relationships	4.7	25,168		21,396		3,772
Trade names	5.0	7,088		2,967		4,121
Covenants not to compete	3.0	600		326		274
Total intangible assets		$	128,617	$	63,943	$	64,674

Amortization expense related to acquired intangible assets was $3.7 million and $11.4 million during the three and nine months ended June 30, 2024, respectively, compared to $4.3 million and $13.3 million during the three and nine months ended June 30, 2023, respectively, and is recorded within amortization and acquisition-related costs on the condensed consolidated statements of operations and comprehensive income (loss). There were no impairment losses recognized related to intangible assets in the three or nine months ended June 30, 2024 or 2023.

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

	Estimated Future Amortization Expense
2024	3,623
2025	13,789
2026	12,575
2027	11,423
2028	9,712
Thereafter	4,041
Total	$	55,163