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Balance Sheet Components | 12 Months Ended
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Jun. 30, 2020
Balance Sheet Related Disclosures [Abstract] |
Balance Sheet Components | Balance Sheet Components Accounts receivable, net
| June 30,
| 2020 |  | 2019
| (in thousands)
Accounts receivable | $ | 43,394 |  |  | $ | 48,401 |
Less: Allowance for price adjustments | (30,092 | ) |  | (24,075 | )
Less: Allowance for doubtful accounts | (30 | ) |  | (30 | )
Accounts receivable, net | $ | 13,272 |  |  | $ | 24,296 |
Inventories
| June 30,
| 2020 |  | 2019
| (in thousands)
Raw materials | $ | 55,377 |  |  | $ | 59,076 |
Work in-process | 61,863 |  |  | 38,214 |
Finished goods | 18,288 |  |  | 14,353 |
| $ | 135,528 |  |  | $ | 111,643 |
Other current assets
| June 30,
| 2020 |  | 2019
| (in thousands)
VAT receivable | $ | 1,639 |  | * | $ | 30,769 |
Other prepaid expenses | 1,900 |  |  | 2,745 |
Prepaid insurance | 1,520 |  |  | 939 |
Prepaid maintenance | 587 |  |  | 481 |
Prepayments to supplier | 938 |  |  | 583 |
Prepaid income tax | 1,991 |  |  | 267 |
Customs deposit | 163 |  |  | 114 |
Lease financing cost | — |  |  | 825 |
Other receivables | 69 |  |  | 379 |
| $ | 8,807 |  |  | $ | 37,102 |
* Refund of the accumulated value-added tax paid previously Property, plant and equipment, net
| June 30,
| 2020 |  | 2019
| (in thousands)
Land | $ | 4,877 |  |  | $ | 4,877 |
Building | 58,875 |  |  | 36,205 |
Manufacturing machinery and equipment | 447,079 |  |  | 303,750 |
Equipment and tooling | 25,398 |  |  | 20,739 |
Computer equipment and software | 38,779 |  |  | 34,048 |
Office furniture and equipment | 3,529 |  |  | 3,243 |
Leasehold improvements | 68,224 |  |  | 53,597 |
Land use rights | 8,502 |  |  | 8,760 |
| 655,263 |  |  | 465,219 |
Less: accumulated depreciation | (291,515 | ) |  | (252,982 | )
| 363,748 |  |  | 212,237 |
Equipment and construction in progress | 48,592 |  |  | 197,500 |
Property, plant and equipment, net | $ | 412,340 |  |  | $ | 409,737 |
Total depreciation expense was $43.9 million, $31.9 million and $29.2 million for fiscal year 2020, 2019 and 2018, respectively. The gross amount of computer software recorded under capital leases was $13.7 million and $13.7 million and the related accumulated depreciation was $10.1 million and $8.2 million, respectively, at June 30, 2020 and 2019. The Company capitalized $1.0 million, $0.8 million and 0.3 million of software development costs during the fiscal year 2020, 2019 and 2018, respectively. Amortization of capitalized software development costs was $0.5 million in fiscal year 2020, $0.5 million in fiscal year 2019 and $0.6 million in fiscal year 2018. Unamortized capitalized software development costs in each of the periods presented at June 30, 2020 and 2019 were $1.4 million and $0.9 million, respectively. There is no private land ownership in China. Individuals and companies are permitted to acquire land use rights for specific purpose. In March 2017, the JV Company received the necessary land use right certificate from the PRC government. The land use rights will expire on November 30, 2066. Other long-term assets
| June 30,
| 2020 |  | 2019
| (in thousands)
Prepayments for property and equipment | $ | 2,242 |  |  | $ | 4,846 |
Investments in privately held companies | 100 |  |  | 700 |
Lease financing costs | — |  |  | 1,758 |
Customs deposit | 1,662 |  |  | 980 |
Other long-term deposits | 850 |  |  | 889 |
Office leases deposits | 766 |  |  | 1,031 |
Other | 184 |  |  | 413 |
| $ | 5,804 |  |  | $ | 10,617 |
Intangible assets, net
| June 30,
| 2020 |  | 2019
| (in thousands)
Patents and technology rights | $ | 18,037 |  |  | $ | 18,037 |
Trade name | 268 |  |  | 268 |
Customer relationships | 1,150 |  |  | 1,150 |
| 19,455 |  |  | 19,455 |
Less: accumulated amortization | (2,954 | ) |  | (2,842 | )
| 16,501 |  |  | 16,613 |
Goodwill | 269 |  |  | 269 |
Intangible assets, net | $ | 16,770 |  |  | $ | 16,882 |
Intangible assets of patents and technology rights are primarily related to a license agreement that the Company entered into with STMicroelectronics International N.V. (“STMicro”) on September 5, 2017, pursuant to which STMicro granted the Company a world-wide, royalty-free and fully-paid license to use its technologies to develop, market and distribute certain digital multi-phase controller products, which have been offered by STMicro. This agreement allows the Company to develop and market products in a new market, primarily in the computer server segment. As of June 30, 2020, the Company recorded $16.2 million of intangible assets related to STMicro. The Company will begin to amortize such license fees during the September 2020 quarter, which is when the technology meets qualification requirements and becomes ready for its intended use in production. Amortization expense for intangible assets was $113,000, $113,000 and $76,000 for the years ended June 30, 2020, 2019 and 2018, respectively. Estimated future minimum amortization expense of intangible assets is as follows (in thousands):
Year ending June 30, |
2021 | $ | 3,360 |
2022 | 3,360 |
2023 | 3,286 |
2024 | 3,249 |
2025 | 3,246 |
| $ | 16,501 |
Accrued liabilities
| June 30,
| 2020 |  | 2019
| (in thousands)
Accrued compensation and benefits | $ | 19,968 |  |  | $ | 16,385 |
Warranty accrual | 709 |  |  | 623 |
Stock rotation accrual | 3,358 |  |  | 1,921 |
Accrued professional fees | 5,868 |  |  | 1,721 |
Accrued inventory | 775 |  |  | 857 |
Accrued facilities related expenses | 1,831 |  |  | 4,233 |
Accrued financing lease costs | — |  |  | 728 |
Accrued property, plant and equipment | 11,039 |  |  | 11,527 |
Other accrued expenses | 8,017 |  |  | 5,144 |
Customer deposit | 2,813 |  |  | 351 |
ESPP payable | 608 |  |  | 585 |
| $ | 54,986 |  |  | $ | 44,075 |
The activity in the warranty accrual, included in accrued liabilities is as follows:
| Year Ended June 30,
| 2020 |  | 2019 |  | 2018
| (in thousands)
Beginning balance | $ | 623 |  |  | $ | 535 |  |  | $ | 1,866 |
Addition | 895 |  |  | 236 |  |  | (147 | )
Released | — |  |  | — |  |  | (1,000 | )
Utilization | (809 | ) |  | (148 | ) |  | (184 | )
Ending balance | $ | 709 |  |  | $ | 623 |  |  | $ | 535 |
The activity in the stock rotation accrual, included in accrued liabilities is as follows:
| Year Ended June 30,
| 2020 |  | 2019 |  | 2018
| (in thousands)
Beginning balance | $ | 1,921 |  |  | $ | 1,750 |  |  | $ | 1,871 |
Addition | 9,441 |  |  | 5,267 |  |  | 2,714 |
Utilization | (8,004 | ) |  | (5,096 | ) |  | (2,835 | )
Ending balance | $ | 3,358 |  |  | $ | 1,921 |  |  | $ | 1,750 |
Other long-term liabilities
| June 30, |
| 2020 |  | 2019 |
| (in thousands) |
Deferred rent | $ | — |  |  | $ | 65 |  |
Customer deposits | 8,000 |  | * | 10,000 |  | *
Computer software liabilities | 1,897 |  |  | 3,701 |  |
Other | 826 |  |  | 155 |  |
Other long-term liabilities | $ | 10,723 |  |  | $ | 13,921 |  |
* Customer deposit from our customer A and customer B for securing future shipment from the Company. The Company reclassified $2.0 million of the customer deposit to short term accrued liabilities during the fiscal year ended June 30, 2020 since the repayment of this amount is due within a year.

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 + Details
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