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Intangible Assets and Goodwill
9 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill INTANGIBLE ASSETS AND GOODWILL
Intangible assets—The carrying amounts, accumulated amortization, and net carrying value of our definite-lived intangible assets are presented in the table below (dollars in thousands):
March 31, 2024June 30, 2023
Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying Amount
Impairment Charges (1)
Accumulated AmortizationNet Carrying Amount
Customer relationships$17,492 $(10,356)$7,136 $17,492 $— $(8,617)$8,875 
Trade name2,680 (2,100)580 2,680 — (1,697)983 
Proprietary software1,042 (875)167 1,042 — (758)284 
Non-compete agreements100 (57)43 1,292 (533)(701)58 
Vendor relationships— — — 20,400 (15,111)(5,289)— 
Total intangible assets$21,314 $(13,388)$7,926 $42,906 $(15,644)$(17,062)$10,200 
(1) During the year ended June 30, 2023, the Company recorded impairment charges for its long-lived intangible assets recognized as part of the acquisition of a lead distribution company. Refer to the consolidated financial statements in our Annual Report on Form 10-K for additional details.

The Company's intangible assets include those long-lived intangible assets which were recognized at their estimated acquisition date fair values. The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. There were no impairment triggers identified with respect to the Company’s long-lived assets during the three and nine months ended March 31, 2024 and 2023.

For the three months ended March 31, 2024 and 2023, amortization expense related to intangible assets totaled $0.8 million and $1.4 million, respectively, and $2.3 million and $4.2 million for the nine months ended March 31, 2024 and 2023, respectively, recorded in selling, general, and administrative expense in the condensed consolidated statements of comprehensive income (loss). The weighted-average remaining useful life of intangible assets was 2.9 and 3.6 years as of March 31, 2024 and June 30, 2023, respectively.

As of March 31, 2024, expected amortization expense in future fiscal periods were as follows (in thousands):

Trade NameProprietary SoftwareNon-Compete AgreementsCustomer relationshipsTotal
Remainder fiscal 2024$133 $39 $5 $580 $757 
2025447 128 20 2,316 2,911 
2026— — 18 2,313 2,331 
2027— — — 1,927 1,927 
Total$580 $167 $43 $7,136 $7,926 

Goodwill—The Company recorded as goodwill the excess of the purchase price over the estimated fair values of identifiable assets and liabilities acquired as part of the acquisitions discussed in Note 2 to the condensed consolidated financial statements. Goodwill is assigned to reporting units that are expected to benefit from the synergies of the business combination as of the acquisition date and becomes identified with that reporting unit in its entirety. As such, the reporting unit as a whole supports the recovery of its goodwill. As of March 31, 2024, the Company’s goodwill balance of $29.1 million was related to the acquisitions of Express Meds and Simple Meds and is all assigned to the Healthcare Services reporting unit and reportable segment.

The Company performs its annual goodwill impairment testing as of April 1, or more frequently if it believes that indicators of impairment exist. During the three and nine months ended March 31, 2024 and 2023, there were no indicators of impairment.