GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Jun. 30, 2024

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, 2024						Weighted Average Useful Life (Years)
($ in thousands)	Gross		Accumulated Amortization		Net
Intangible assets:
Brand and trade names	$	2,361	$	(1,852)	$	509	1.6
Developed technology	20,062		(13,304)		6,758		3.6
Customer relationships	27,024		(9,665)		17,359		8.8
Total intangible assets	$	49,447	$	(24,821)	$	24,626	7.2
Goodwill	$	94,903	$	—	$	94,903	Indefinite

	As of June 30, 2023						Weighted Average Useful Life
($ in thousands)	Gross		Accumulated Amortization		Net
Intangible assets:
Brand and trade names	$	2,161	$	(1,414)	$	747	2.0
Developed technology	20,188		(11,066)		9,122		4.1
Customer relationships	24,714		(6,771)		17,943		10.1
Total intangible assets	$	47,063	$	(19,251)	$	27,812	7.9
Goodwill	$	92,005	$	—	$	92,005	Indefinite

For the years ended June 30, 2024, 2023 and 2022, amortization expense related to intangible assets was $5.6 million, $5.0 million and $3.3 million, respectively.

Estimated annual amortization expense for intangible assets is as follows:

($ in thousands)	Amount
2025	$	4,969
2026	4,771
2027	4,421
2028	2,571
2029	1,208
Thereafter	6,686
	$	24,626