GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

Goodwill and intangible asset balances consisted of the following:

	As of June 30, 2020							Amortization Period
($ in thousands)	Gross		Accumulated Amortization			Net
Intangible assets:
Non-compete agreements	$	2	$	(2	)	$	—	2 years
Brand and tradenames	1,695		(699		)	996		3 - 7 years
Developed technology	10,939		(5,110		)	5,829		5 - 6 years
Customer relationships	19,049		(2,841		)	16,208		10 - 18 years
Total intangible assets	$	31,685	$	(8,652	)	$	23,033
Goodwill	63,945		—			63,945		Indefinite
Total intangible assets and goodwill	$	95,630	$	(8,652	)	$	86,978

	As of June 30, 2019							Amortization Period
($ in thousands)	Gross		Accumulated Amortization			Net
Intangible assets:
Non-compete agreements	$	2	$	(2	)	$	—	2 years
Brand and tradenames	1,695		(470		)	1,225		3 - 7 years
Developed technology	10,939		(3,266		)	7,673		5 - 6 years
Customer relationships	19,049		(1,776		)	17,273		10 - 18 years
Total intangible assets	$	31,685	$	(5,514	)	$	26,171
Goodwill	63,945		—			63,945		Indefinite
Total intangible assets and goodwill	$	95,630	$	(5,514	)	$	90,116

For the years ended June 30, 2020, 2019 and 2018, amortization expense related to intangible assets was $3.1 million, $3.2 million and $2.1 million, respectively. The weighted-average remaining useful life of the finite-lived intangible assets was 11.8 years as of June 30, 2020, of which the weighted-average remaining useful life for the brand and tradenames was 4.3 years, for the developed technology was 3.3 years, and for the customer relationships was 15.3 years.

Estimated annual amortization expense for intangible assets is as follows (in thousands):

2021	$	3,074
2022	3,010
2023	3,010
2024	1,909
2025	1,147
Thereafter	10,883
	$	23,033