| Goodwill and Intangible Assets |
Goodwill and Intangible Assets Goodwill Changes in the carrying amounts of goodwill were as follows (in thousands): | | | | | | | Carrying Amount | | Balance as of June 30, 2024 | $ | 285,969 | | | Goodwill acquired during the period | 39,586 | | | Foreign currency translation adjustment | 705 | | | Balance as of June 30, 2025 | $ | 326,260 | | | Purchase price adjustment | 9 | | | Foreign currency translation adjustment | (168) | | | Balance as of June 30, 2026 | $ | 326,101 | |
No impairment of goodwill has been recorded for the fiscal years ended June 30, 2026, 2025, and 2024. Intangible Assets Intangible assets acquired through business combinations consisted of the following (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | Useful Life
(In years) | | Gross Carrying Amount | | Accumulated
Amortization | | Net Carrying Amount | | Client relationships | 9 to 15 | | $ | 52,074 | | | $ | (36,934) | | | $ | 15,140 | | | Non-compete agreements | 3 to 5 | | 4,907 | | | (4,850) | | | 57 | | | Trademarks and trade names | Indefinite | | 4,778 | | | — | | | 4,778 | | | Trademarks and trade names | 5 to 10 | | 3,625 | | | (3,625) | | | — | | | Core technology | 2 to 7 | | 68,090 | | | (59,064) | | | 9,026 | | | Backlog | 2 | | 1,027 | | | (1,027) | | | — | | | Intangible assets, net | | | $ | 134,501 | | | $ | (105,500) | | | $ | 29,001 | |
| | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | Useful Life
(In years) | | Gross Carrying Amount | | Accumulated
Amortization | | Net Carrying Amount | | Client relationships | 9 to 15 | | $ | 52,080 | | | $ | (33,004) | | | $ | 19,076 | | | Non-compete agreements | 3 to 5 | | 4,907 | | | (4,651) | | | 256 | | | Trademarks and trade names | Indefinite | | 4,683 | | | — | | | 4,683 | | | Trademarks and trade names | 5 to 10 | | 7,844 | | | (6,199) | | | 1,645 | | | Core technology | 2 to 7 | | 69,614 | | | (54,595) | | | 15,019 | | | Backlog | 2 | | 1,027 | | | (1,007) | | | 20 | | | Intangible assets, net | | | $ | 140,155 | | | $ | (99,456) | | | $ | 40,699 | |
Amortization expense related to acquired intangible assets was recognized as follows (in thousands): | | | | | | | | | | | | | | | | | | | Year Ended June 30, | | 2026 | | 2025 | | 2024 | | Cost of SaaS | $ | 5,993 | | | $ | 6,541 | | | $ | 4,778 | | | Sales and marketing | 4,391 | | | 4,696 | | | 5,599 | | | General and administrative | 199 | | | 616 | | | 652 | | | Total amortization expense | $ | 10,583 | | | $ | 11,853 | | | $ | 11,029 | |
During the fiscal year ended June 30, 2026, the Company recorded a non-cash impairment charge of $1.2 million related to certain intangible assets in connection with strategic rebranding initiatives, under which the Company discontinued the use of the affected trade names. The impairment charge represents the excess of the carrying value of the trade name intangible assets over its estimated fair value and is included in general and administrative expenses in the consolidated statements of operations. As of June 30, 2026, the estimated future amortization expense for acquired intangible assets is as follows (in thousands): | | | | | | | Fiscal Year Ending June 30, | Amount | | 2027 | $ | 7,412 | | | 2028 | 6,915 | | | 2029 | 5,030 | | | 2030 | 2,295 | | | 2031 | 1,365 | | | 2032 and thereafter | 1,206 | | | Total remaining amortization | $ | 24,223 | |
|