MOVING iMAGE TECHNOLOGIES INC. Goodwill & Intangibles Disclosure
NOTE 6 — INTANGIBLE ASSETS
The following table summarizes the Company’s intangible assets as of June 30, 2025 (in thousands):
| Amortization | Gross Asset | Accumulated | Net Book | |||||||||||||
| Period (in years) | Cost | Amortization | Value | |||||||||||||
| Customer relations | $ | 970 | $ | 711 | $ | 260 | ||||||||||
| Patents | 70 | 21 | 49 | |||||||||||||
| Trademark | 78 | 23 | 55 | |||||||||||||
| $ | 1,118 | $ | 755 | $ | 364 | |||||||||||
The following table summarizes the Company’s intangible assets as of June 30, 2024 (in thousands):
| Amortization | Gross Asset | Accumulated | Net Book | |||||||||||||
| Period (in years) | Cost | Amortization | Value | |||||||||||||
| Customer relations | $ | 970 | $ | 660 | $ | 310 | ||||||||||
| Patents | 70 | 17 | 53 | |||||||||||||
| Trademark | 78 | 19 | 59 | |||||||||||||
| $ | 1,118 | $ | 696 | $ | 422 | |||||||||||
For the years ended June 30, 2025, amortization expenses were $58,000 and $58,000. Amortization expense is included in general and administrative expense.
Estimated amortization expense related to intangible assets subject to amortization at June 30, 2025 in each of the five fiscal years subsequent to June 30, 2025, and thereafter is as follows (amounts in thousands):
| 2026 | $ | 60 | ||
| 2027 | 60 | |||
| 2028 | 60 | |||
| 2029 | 60 | |||
| Thereafter | 124 | |||
| Total | $ | 364 |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Sep 26, 2025 | Showing above |
| 2024 | Sep 27, 2024 | |
| 2023 | Sep 27, 2023 | |
| 2022 | Sep 28, 2022 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.