5.           Intangibles, net

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The components of intangibles are as follows (in thousands):

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The Company tests identifiable intangible assets and goodwill for impairment in the fourth quarter of each fiscal year unless there are interim indicators that suggest that it is more likely than not that either the identifiable intangible assets or goodwill may be impaired. The weighted average amortization period at April 30, 2025 and 2024 was three years. Amortization expense for the years ended April 30, 2025, 2024 and 2023 was $23,391,000, $17,954,000 and $58,121,000, respectively.

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As part of the Company’s annual goodwill impairment and identifiable assets test during the fiscal quarter ended April 30, 2025, a decrease in forecasted results of the UGV reporting unit resulted in accelerated intangible amortization expenses of $4,258,000, which was during the three months ended April 30, 2025.

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Due to the closure of all of the Company’s MUAS COCO sites during the three months ended April 30, 2023, we revised the estimated useful life for MUAS customer relationships which resulted in accelerated intangible amortization expenses of $34,149,000 during the fiscal year ended April 30, 2023. Additionally, in conjunction with the goodwill impairment test performed during the year ended April 30, 2023, the remaining intangibles in the MUAS reporting unit were tested for recoverability. The asset recoverability test did not result in an impairment recorded for the remaining intangibles in the MUAS reporting unit. Refer to Note 6—Goodwill for further details.

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Technology, customer relationship and tradename intangibles were recognized in conjunction with the Company’s acquisition of Tomahawk on September 15, 2023. Technology and backlog intangible assets were recognized in conjunction with the Company’s acquisition of Planck on August 17, 2022. Refer to Note 21—Business Acquisitions for further details.

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Estimated amortization expense for the next five years is as follows (in thousands):

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