GOODWILL AND INTANGIBLES

6 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLESIntangible asset balances and goodwill consisted of the following:


	As of December 31, 2022
($ in thousands)	Gross		Accumulated Amortization		Net		Amortization Period
Intangible assets:
Brand and tradenames	$	2,226	$	(1,260)	$	966	1 - 7 years
Developed technology	19,267		(9,707)		9,560		5 - 6 years
Customer relationships	24,592		(5,583)		19,009		5 - 18 years
Total intangible assets	$	46,085	$	(16,550)	$	29,535

Goodwill	92,241		—		92,241		Indefinite


	As of June 30, 2022
($ in thousands)	Gross		Accumulated Amortization		Net		Amortization Period
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		10 - 18 years
Total intangible assets	$	32,863	$	(14,916)	$	17,947

Goodwill	66,656		—		66,656		Indefinite

During the three and six months ended December 31, 2022, there was $0.8 million and $1.6 million in amortization expense related to intangible assets, respectively, that was recognized. The Company recognized $25.6 million in goodwill and $13.2 million in newly acquired intangible assets in association with the 32M acquisition as referenced in Note 5 - Acquisition.

During the three and six months ended December 31, 2021, there was $0.9 million and $1.6 million for each respective period in amortization expense related to intangible assets that was recognized. The Company recognized $2.7 million in goodwill and $1.2 million in newly acquired intangible assets in association with the Yoke acquisition as referenced in Note 5 - Acquisition.

The Company performs an annual goodwill impairment test on April 1 and more frequently if events and circumstances indicate that the asset might be impaired. The Company has determined that there is a single reporting unit for purposes of testing goodwill for impairment. During the three and six months ended December 31, 2022 and December 31, 2021, the Company did not recognize any impairment charges related to goodwill.