"Intangible assets" are assets that have significant value but no physical presence and provide long-term financial value to a company. The company's identifiable intangible assets are those that can be sold independently, separated from other assets, and valued. Intellectual property, like as patents, trademarks, and copyrights, as well as non-cash government grants, such broadcasting licenses or airport landing rights, are examples of identifiable intangible assets. A trademark is a sign that can be used to separate one company's products or services from those of other businesses. Trademarks are protected under intellectual property laws. Intangible assets are capitalized at fair value as of the date of acquisition rather than cost when acquired separately.
Enghouse System’s gross value of intangible assets surged from $246.06 million in FY2020 to $259.17 million in FY2021, an increase of 5.3%. In FY2021, the company's net value of intangible assets was $101.82 million. Developed technology and Capitalized software accounted for $255.58 million and $3.59 million respectively, based on the company's calculation of the fair value of identified intangible assets. The company's amortization expense for intangible assets was $42.4 million in FY2021.
The company's software licenses revenue, which makes up 31% of their total revenue, is the primary source of revenue. The company's software licenses revenue dropped from $134.29 million in the year 2020 to $105.07 million in the fiscal year 2021, the software revenue decreased by $29.2 million, principally due to extraordinary Vidyo sales during the same period prior year. Revenue from software licenses fell by $4.2 million, primarily as a result of two significant telecommunications deals in the first quarter of the comparative period mixed with substantially lower sales of networks products.
The total revenue decreased by $30.3 million or 10.1% from the same period in the previous year to $268.6 million for the twelve months ending October 31, 2021. The loss is primarily due to a $25.0 million decline in software revenue, mostly due to extraordinary Vidyo sales during the same quarter last year, as well as a decline of $4.4 million in hosting and maintenance revenue.
Enghouse Systems Ltd (Enghouse Systems) is a software and services company that develops and sells enterprise-oriented applications software. The company's enghouse interactive product portfolio includes recording and quality management, consoles, IVR or self-service, and multi-channel contact centers. Enghouse Systems’ enghouse networks products comprise GIS and network analytics, intelligent network platform, mobile network rollout, number portability, and service delivery cloud. It also offers software technology solutions for the planning, design, operation, and support of next generation telecommunications and utility networks. The company has operations in North America and Asia-Pacific region.
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