Goodwill and Intangible Assets

9 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets

Goodwill And Intangible Assets

8. Goodwill and Intangible Assets

The change in the net carrying amount of goodwill during the nine months ended March 31, 2025 was as follows:

Goodwill at June 30, 2024		$	6,764,127
Acquisition of G5			2,977,346
Goodwill at March 31, 2025		$	9,741,473

The increase in goodwill during the nine months ended March 31, 2025 was due to the acquisition of G5 Infrared. The Company is in the process of finalizing third-party valuations of certain intangible assets; thus, the provisional measurement of goodwill and intangible assets are subject to change. See Note 3, Acquisition of G5 Infrared, to these unaudited Condensed Consolidated Financial Statements, for more information.

Amortizable intangible assets were comprised of:

		Useful Lives (Years)				March 31, 2025				June 30, 2024
Customer relationships		10 - 15				$	9,522,300			$	3,712,300
Trade secrets		8 - 10					7,761,304				4,197,304
Trademarks		8 - 10					9,912,418				4,256,418
Backlog			1				4,728,525				463,525
Total intangible assets							31,924,547				12,629,547
Less accumulated amortization							(10,448,321	)			(8,978,808	)
Total intangible assets, net						$	21,476,226			$	3,650,739

Future amortization of intangible assets is as follows:

Fiscal year ending:
June 30, 2025 (three months remaining)		$	1,460,967
June 30, 2026			4,244,494
June 30, 2027			1,578,869
June 30, 2028			1,578,869
June 30, 2029			1,578,869
After June 30, 2029			11,034,158
		$	21,476,226