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Restructuring and Related Charges | 12 Months Ended
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Jun. 30, 2025
Restructuring and Related Activities [Abstract] |
Restructuring and Related Charges | 14. Restructuring and Related Charges During fiscal years ended June 30, 2025, 2024 and 2023, the Company recorded restructuring and related charges of $1.5 million, $36.3 million and $2.9 million, respectively. The charges are reflected in “Restructuring and related charges” in the consolidated statements of operations. 2025 Restructuring During fiscal 2025, the Company continued to execute the restructuring plans initiated in prior years and primarily incurred restructuring charges related to severance and benefits costs. 2024 Restructuring During the third quarter of fiscal 2024, the Company executed a global reduction-in-force plan targeted towards the reorganization of the Company's research and development and sales and marketing functions to align the Company's workforce with its strategic priorities and to focus on specific geographies and industry segments with higher growth opportunities (the “Q3 2024 Plan”). During the fiscal years ended June 30, 2025, and 2024 the Company recorded restructuring charges of approximately $1.2 and $11.0 million, respectively related to the Q3 2024 Plan, which primarily consisted of severance and benefits expenses, legal and consulting fees. During the second quarter of fiscal 2024, the Company executed a global reduction-in-force plan to rebalance its workforce to create greater efficiency and improve execution, in alignment with the Company's business and strategic priorities, while reducing its ongoing operating expenses to address reduced revenue and macro-economic conditions (the “Q2 2024 Plan”). During the fiscal years ended June 30, 2025 and 2024, the Company recorded restructuring charges of approximately $0.1 million and $15.9 million, respectively, related to the Q2 2024 Plan, which prim arily consisted of employee severance and benefits expenses, legal and consulting fees. Through June 30, 2025, the Company has incurred $28.3 million in restructuring charges under the Q2 2024 Plan and Q3 2024 Plan which primarily related to severance and benefits costs. The Company expects to substantially complete these ongoing restructuring plans by the end of calendar year 2025 and does not expect to incur any significant additional charges for the Q2 2024 Plan and the Q3 2024 Plan. During the first quarter of fiscal 2024, the Company initiated a reduction-in-force plan to rebalance the workforce to create greater efficiency and improve execution in alignment with the Company's business and strategic priorities (the “Q1 2024 Plan”). It consisted primarily of workforce reduction to drive productivity in research and development, sales and marketing and provide efficiency across operations and general and administrative functions. During the fiscal year ended June 30, 2024, the Company incurred charges of approximately $2.9 million related to the Q1 2024 Plan. As of June 30, 2024, the plan was completed. 2023 Restructuring During the third quarter of fiscal 2023, the Company initiated a restructuring plan to transform its business infrastructure and reduce its facilities footprint and the facilities related charges (the “2023 Plan”). As part of this project, the Company moved engineering labs from its San Jose, California location to its Salem, New Hampshire location. This move was to help reduce the cost of operating the Company's labs. During the fiscal year ended June 30, 2025, the Company recorded restructuring charges of $0.1 million related to the 2023 Plan. During the fiscal year ended June 30, 2024, the Company incurred restructuring charges of approximately $6.6 m illion pr imarily for moving costs and including accelerated depreciation on lab leasehold improvements of approximately $5.9 million. The Company expects to complete the 2023 Plan by the end of fiscal year 2026 and expects the charges related to the completion to be immaterial. Restructuring liabilities are recorded in “Other accrued liabilities” in the accompanying consolidated balance sheets. As of June 30, 2025 and 2024 the restructuring liability was approximately $0.7 million and $11.5 million, respectively. The following table summarizes the activity related to the Company’s restructuring and related liabilities during the following periods (in thousands):
|  | Year Ended |
|  | June 30, 2025 |  |  | June 30, 2024 |
Balance at beginning of period |  | $ | 11,469 |  |  | $ | — |
Period charges |  |  | 3,336 |  |  |  | 37,622 |
Period reversals |  |  | (1,842 | ) |  |  | (1,301 | )
Period non-cash adjustments |  |  | — |  |  |  | (5,940 | )
Period payments |  |  | (12,270 | ) |  |  | (18,912 | )
Balance at end of period |  | $ | 693 |  |  | $ | 11,469 |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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