GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Jun. 30, 2021

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, 2021						Amortization Period
($ in thousands)	Gross		Accumulated Amortization		Net
Intangible assets:
Brand and tradenames	$	1,640	$	(840)	$	800	3 - 7 years
Developed technology	10,939		(6,890)		4,049		5 - 6 years
Customer relationships	19,049		(3,906)		15,143		10 - 18 years
Total intangible assets	$	31,628	$	(11,636)	$	19,992
Goodwill	$	63,945	$	—	$	63,945	Indefinite

	As of June 30, 2020						Amortization Period
($ in thousands)	Gross		Accumulated Amortization		Net
Intangible assets:
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	$	31,683	$	(8,650)	$	23,033
Goodwill	$	63,945	$	—	$	63,945	Indefinite

For the years ended June 30, 2021, 2020 and 2019, amortization expense related to intangible assets was $3.1 million, $3.1 million and $3.2 million, respectively. The weighted-average remaining useful life of the finite-lived intangible assets was 11.43 years as of June 30, 2021, of which the weighted-average remaining useful life for the brand and tradenames was 3.4 years, for the developed technology was 2.3 years, and for the customer relationships was 14.3 years.

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

2022	$	3,018
2023	3,018
2024	1,917
2025	1,155
2026	1,058
Thereafter	9,826
	$	19,992