v3.25.2
Goodwill and intangible assets
3 Months Ended
Jun. 27, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and intangible assets Goodwill and intangible assets
Goodwill
During the three-month period ended June 27, 2025, additions to the Company’s goodwill are driven by its acquisitions of Bentek Corporation (“Bentek”) and OnSight Technology, Inc. (“OnSight”) as further described in Note 10.
The following table summarizes the activity in the Company’s goodwill during the three-month period ended June 27, 2025 (in thousands):
Balance as of March 31, 2025$371,018
Additions73,905 
Balance as of June 27, 2025$444,923
Other intangible assets
During the three-month period ended June 27, 2025, the total gross value of other intangible assets increased by $17.8 million, consisting of $15.9 million of developed technology and $1.9 million of trade name. This increase is primarily driven by the recent business acquisitions as further described in Note 10.
The components of identifiable intangible assets are as follows:
As of June 27, 2025As of March 31, 2025
Gross
carrying
amount
Accumulated
amortization
Net
carrying
amount
Gross
carrying
amount
Accumulated
amortization
Net
carrying
amount
(In thousands)
Developed technology$55,092$(3,466)$51,626$39,200$(2,394)$36,806
Customer relationships18,000(3,679)14,32118,000(2,779)15,221
Trade name and other intangibles
4,894(1,892)3,0023,018(1,804)1,214
Total
$77,986$(9,037)$68,949$60,218$(6,977)$53,241
The gross carrying amount of other intangible assets are removed when fully amortized. Total intangible asset amortization expense recognized in operations during the three-month periods ended June 27, 2025 and June 28, 2024 were as follows:
Three-month periods ended
June 27, 2025June 28, 2024
(In thousands)
Cost of sales
$1,159$88
Selling general and administrative expense
900
Total amortization expense
$2,059$88
The estimated future annual amortization expense for the acquired finite-lived intangible assets as of June 27, 2025 is as follows:
Fiscal year ending March 31,Amount
(In thousands)
2026 (1)$8,116
202710,397
20289,531
20299,284
20306,330
Thereafter25,273
Total amortization expense
$68,931
(1)Represents estimated amortization for the remaining fiscal nine-month period ending March 31, 2026.