v3.26.1
INTANGIBLE ASSETS AND GOODWILL
 3 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
INTANGIBLE ASSETS AND GOODWILL INTANGIBLE ASSETS AND GOODWILL
The Company capitalizes certain development costs for software to be sold, marketed, or leased to customers. Costs incurred internally in researching and developing software products are charged to expense until technological feasibility has been established for the product. Once technological feasibility is established, software development costs are capitalized until the product is available for general release to customers. Judgment is required in determining when technological feasibility of a product is established. The amortization of these capitalized development costs is included in cost of revenue over the estimated life of the products.

The following table summarizes identifiable intangible assets of the Company as of March 31, 2026 and June 30, 2026 (in thousands):

June 30, 2026
Useful Lives
(In Years)
Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
Definite-lived:
Customer relationships
9 - 13
$214,972 $(46,099)$168,873 
Trademark and tradename
3 - 15
23,926 (8,956)14,970 
Patents
7 - 11
2,128 (1,086)1,042 
Technology
5 - 7
86,252 (36,243)50,009 
Software to be sold or leased
3 - 7
27,295 (8,421)18,874 
354,573 (100,805)253,768 
Indefinite-lived:
Customer list104 — 104 
Trademark and tradename61 — 61 
165 — 165 
Total$354,738 $(100,805)$253,933 

March 31, 2026
Useful Lives
(In Years)
Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
Definite-lived:
Customer relationships
9 - 13
$213,107 $(40,868)$172,239 
Trademark and tradename
3 - 15
23,637 (8,291)15,346 
Patents
7 - 11
2,128 (961)1,167 
Technology
3 - 5
85,187 (36,165)49,022 
Software to be sold or leased
3 - 5
22,875 (5,296)17,579 
346,934 (91,581)255,353 
Indefinite-lived:
Customer list104 — 104 
Trademark and tradename61 — 61 
165 — 165 
Total$347,099 $(91,581)$255,518 
The weighted-average remaining amortization periods for customer relationships, trademarks and tradenames, patents, technology, and capitalized software to be sold or leased at June 30, 2026 were 10.3, 10.1, 2.1, 2.5, and 2.7 years, respectively, and at March 31, 2026 were 10.2, 9.8, 3.0, 2.8, and 2.8 years, respectively.

Amortization expense for the three-month periods ended June 30, 2025 and 2026 was $9,859 and $10,463, respectively.

Estimated future amortization expense for each of the five succeeding fiscal years for these intangible assets is as follows:

Fiscal YearEstimated Future Amortization Expense
2027 (remaining)$31,760 
202841,183 
202932,364 
203023,898 
203117,818 
Thereafter106,745 
$253,768 

Reconciliation of Total Goodwill

The following table is a reconciliation of the carrying amount of goodwill as of March 31, 2026 and June 30, 2026 (in thousands):

GoodwillCarrying Amount
Balance at March 31, 2025
$383,146 
Businesses acquired
Powerfleet Africa Sky552 
RTS Acquisition5,637 
Foreign currency translation difference22,660 
Balance at March 31, 2026
411,995 
Foreign currency translation difference9,067 
Balance at June 30, 2026
$421,062 

For the three-month period ended June 30, 2026, the Company did not identify any indicators of impairment.