BALANCE SHEET COMPONENTS

Inventories

Inventories consisted of the following (in thousands):



	June 30,
	2017			2016
Finished goods	$	141,247		$	55,694
Raw materials	10,361			8,500
Provision for inventory obsolescence	(9,560		)	(7,081		)
	$	142,048		$	57,113

Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands):



	June 30,
	2017			2016
Testing equipment	$	7,587		$	6,051
Computer and other equipment	5,740			4,857
Tooling equipment	7,828			5,801
Furniture and fixtures	1,528			1,325
Leasehold improvements	6,424			5,136
Software (1) (2)	5,601			2,488
Software in development (1) (2)	—			2,739
Property and Equipment, Gross	34,708			28,397
Less: Accumulated depreciation (3)	(21,792		)	(15,444		)
	$	12,916		$	12,953

(1) - In the year ended June 30, 2016, the Company recorded a $2.5 million impairment charge in research and development

expense for capitalized software development costs due to the cancellation of the commercial launch of certain software in development. No impairment charges were recorded for the year ended June 30, 2017.

(2) - We capitalized $0.1 million for software development in fiscal 2017. We capitalized $1.3 million for software development in fiscal 2016.

(3)- The Company recorded depreciation expense of $6.8 million, $5.7 million and $4.7 million in fiscal 2017, 2016 and 2015, respectively.

Other Long-term Assets

Other long-term assets consisted of the following (in thousands):



	June 30,
	2017		2016
Intangible assets, net (1)	$	437	$	616
Other long-term assets	1,891		960
	$	2,328	$	1,576

(1) - Accumulated amortization was $1.2 million and $1.0 million as of June 30, 2017 and June 30, 2016, respectively.

Other Current Liabilities

Accrued liabilities consisted of the following (in thousands):



	June 30,
	2017		2016
Accrued compensation and benefits	$	2,467	$	1,589
Accrued expense	9,826		5,749
Warranty accrual	3,601		2,236
Deferred revenue - short term	5,254		2,917
Customer deposits	1,905		856
Reserve for sales returns	3,600		2,820
Other payables	6,377		10,505
	$	33,030	$	26,672