GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Jun. 30, 2022

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, 2022						Amortization Period
($ in thousands)	Gross		Accumulated Amortization		Net
Intangible assets:
Brand and tradenames	$	1,705	$	(1,133)	$	572	1 - 7 years
Developed technology	11,819		(8,761)		3,058		5 - 6 years
Customer relationships	19,339		(5,022)		14,317		5 - 18 years
Total intangible assets	$	32,863	$	(14,916)	$	17,947
Goodwill	$	66,656	$	—	$	66,656	Indefinite

	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

For the years ended June 30, 2022, 2021 and 2020, amortization expense related to intangible assets was $3.3 million, $3.1 million and $3.1 million, respectively. The weighted-average remaining useful life of the finite-lived intangible assets was 10.5 years as of June 30, 2022, of which the weighted-average remaining useful life for the brand and tradenames was 2.3 years, for the developed technology was 2 years, and for the customer relationships was 13.0 years.

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

2023	$	3,270
2024	2,151
2025	1,389
2026	1,292
2027	1,069
Thereafter	8,776
	$	17,947