GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Jun. 30, 2026

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

4.GOODWILL AND INTANGIBLE ASSETS

The changes in the carrying amount of goodwill by segment for fiscal 2025 and 2026 are as follows (in thousands):


					Optoelectronics
					and
		Security			Manufacturing			Healthcare
		Division			Division			Division			Consolidated
Balance as of June 30, 2024		$	232,215		$	70,807		$	48,458		$	351,480
Goodwill acquired or adjusted during the period			33,804			—			—			33,804
Foreign currency translation adjustment			346			1,516			247			2,109
Balance as of June 30, 2025		$	266,365		$	72,323		$	48,705		$	387,393
Goodwill acquired or adjusted during the period			20,548			—			—			20,548
Foreign currency translation adjustment			5			(1,157)			(112)			(1,264)
Balance as of June 30, 2026		$	286,918		$	71,166		$	48,593		$	406,677

Intangible assets consisted of the following (dollar amounts in thousands):


				June 30, 2025									June 30, 2026
		Weighted		Gross									Gross
		Average		Carrying			Accumulated			Intangibles			Carrying			Accumulated			Intangibles
		Lives		Value			Amortization			Net			Value			Amortization			Net
Amortizable assets:
Software development costs		7 years		$	91,386		$	(8,941)		$	82,445		$	108,164		$	(11,548)		$	96,616
Patents		19 years			9,617			(4,353)			5,264			9,965			(4,690)			5,275
Developed technology		9 years			99,937			(55,865)			44,072			49,896			(18,428)			31,468
Customer relationships		7 years			20,991			(9,380)			11,611			23,840			(7,188)			16,652
Total amortizable assets					221,931			(78,539)			143,392			191,865			(41,854)			150,011
Non-amortizable assets:
Trademarks					39,898			—			39,898			42,344			—			42,344
Total intangible assets				$	261,829		$	(78,539)		$	183,290		$	234,209		$	(41,854)		$	192,355

Amortization expense related to intangible assets was $22.8 million, $21.6 million and $21.4 million for fiscal 2024, 2025 and 2026, respectively.

At June 30, 2026, the estimated future amortization expense was as follows (in thousands):


2027		$	14,108
2028			12,606
2029			9,142
2030			8,043
2031			6,010
Thereafter			100,102
Total		$	150,011

Software development costs for software products incurred before establishing technological feasibility are charged to operations. Software development costs incurred after establishing technological feasibility are capitalized on a product-by-product basis until the product is available for general release to customers at which time amortization begins. Annual amortization, charged to cost of goods sold, is the amount computed using the ratio that current revenues for a product bear to the total current and anticipated future revenues for that product. In the event that future revenues are not estimable, such costs are amortized on a straight-line basis over the remaining estimated economic life of the product. Amortizable assets that have not yet begun to be amortized are included in “Thereafter” in the table above. During fiscal 2024, 2025 and 2026, we capitalized software development costs in the amounts of $16.6 million, $16.9 million and $17.2 million, respectively.