GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

7. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The Company had a goodwill balance of $131.6 million and $123.5 million at September 30, 2024 and 2023, respectively, representing the excess of costs over the fair value of assets of businesses acquired. The following table summarizes changes in the balance of goodwill (amounts in thousands):

Balance at September 30, 2022	$	115,632
Foreign currency effect on goodwill	7,916
Balance at September 30, 2023	123,548
Foreign currency effect on goodwill	8,026
Balance at September 30, 2024	$	131,574

There was no impairment loss recognized related to goodwill in the twelve months ended September 30, 2024, 2023 or 2022.

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 September 30, 2024 and 2023 are summarized as follows (amounts in thousands, except for years):

September 30, 2024:	Weighted Average Amortization Period (in years)	Cost		Accumulated Amortization		Net
Completed technologies	7.0	$	88,435	$	40,104	$	48,331
Customer relationships	5.0	5,000		2,483		2,517
Trade names	5.0	6,470		3,278		3,192
Covenants not to compete	3.0	$	600	$	503	97
Total intangible assets		$	100,505	$	46,368	$	54,137

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 $15.2 million, $17.0 million, and $13.5 million for the twelve months ended September 30, 2024, 2023, and 2022, respectively, and is recorded within amortization and acquisition-related costs on the consolidated statements of operations and comprehensive income (loss). There were no impairment losses recognized related to intangible assets in the twelve months ended September 30, 2024, 2023, and 2022.

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
2025	$	14,467
2026	13,199
2027	11,982
2028	10,209
2029	4,280
Total	$	54,137