| Identifiable Intangible Assets, Net |
9. Identifiable Intangible Assets, Net The following table is a summary of the Company’s intangible assets as of June 30, 2026 and 2025:
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As of June 30, 2026 |
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As of June 30, 2025 |
|
(in thousands) |
|
Gross Carrying
Amount |
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|
Accumulated
Amortization |
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|
Net Carrying
Amount |
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|
Gross Carrying
Amount |
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|
Accumulated
Amortization |
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|
Net Carrying
Amount |
|
Investment management agreements |
|
$ |
15,264 |
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|
$ |
(6,645 |
) |
|
$ |
8,619 |
|
|
$ |
15,264 |
|
|
$ |
(5,731 |
) |
|
$ |
9,533 |
|
Assembled workforce |
|
|
1,103 |
|
|
|
(711 |
) |
|
|
392 |
|
|
|
1,103 |
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|
|
(632 |
) |
|
|
471 |
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Customer related |
|
|
1,610 |
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|
|
(150 |
) |
|
|
1,460 |
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|
|
1,610 |
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|
|
(43 |
) |
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|
1,567 |
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Licenses |
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|
450 |
|
|
|
(42 |
) |
|
|
408 |
|
|
|
450 |
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|
|
(12 |
) |
|
|
438 |
|
Identifiable intangible assets, net |
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$ |
18,427 |
|
|
$ |
(7,548 |
) |
|
$ |
10,879 |
|
|
$ |
18,427 |
|
|
$ |
(6,418 |
) |
|
$ |
12,009 |
|
During the years ended June 30, 2026 and 2025, the Company recorded amortization expense of $1.1 million and $1.1 million, respectively, within depreciation and amortization on the consolidated statements of operations. The following table provides the estimated aggregate amortization expense for each of the five succeeding fiscal years and thereafter:
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|
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|
(in thousands) |
|
Estimated Future Amortization Expense |
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For the year ending June 30, 2027 |
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|
1,096 |
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For the year ending June 30, 2028 |
|
|
1,068 |
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For the year ending June 30, 2029 |
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|
1,045 |
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For the year ending June 30, 2030 |
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|
1,027 |
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For the year ending June 30, 2031 |
|
|
986 |
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Thereafter |
|
|
5,657 |
|
Total |
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$ |
10,879 |
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