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Balance Sheet Components | 3 Months Ended
--- | ---
Sep. 30, 2023
Balance Sheet Related Disclosures [Abstract] |
Balance Sheet Components | Balance Sheet Components Accounts receivable, net:
| September 30, 2023 |  | June 30, 2023
| (in thousands)
Accounts receivable | $ | 73,266 |  |  | $ | 62,426 |
Less: Allowance for price adjustments | (38,833) |  |  | (39,976) |
Less: Allowance for doubtful accounts | (30) |  |  | (30) |
Accounts receivable, net | $ | 34,403 |  |  | $ | 22,420 |
Inventories:
| September 30, 2023 |  | June 30, 2023
| (in thousands)
Raw materials | $ | 89,899 |  |  | $ | 86,620 |
Work-in-process | 72,575 |  |  | 69,426 |
Finished goods | 25,277 |  |  | 27,201 |
| $ | 187,751 |  |  | $ | 183,247 |
Other current assets:
| September 30, 2023 |  | June 30, 2023
| (in thousands)
Value-added tax receivable | $ | 459 |  |  | $ | 275 |
Other prepaid expenses | 4,161 |  |  | 3,863 |
Prepaid insurance | 3,898 |  |  | 4,162 |
Prepaid maintenance | 1,847 |  |  | 1,697 |
Prepayment to supplier | 10,747 |  |  | 10,689 |
Prepaid income tax | 906 |  |  | 707 |
Interest receivable | 374 |  |  | 135 |
Other receivables | 1,601 |  |  | 1,138 |
| $ | 23,993 |  |  | $ | 22,666 |
Property, plant and equipment, net:
| September 30, 2023 |  | June 30, 2023
| (in thousands)
Land | $ | 4,877 |  |  | $ | 4,877 |
Building and building improvements | 26,834 |  |  | 26,478 |
Manufacturing machinery and equipment | 404,548 |  |  | 398,757 |
Equipment and tooling | 33,774 |  |  | 32,737 |
Computer equipment and software | 50,748 |  |  | 49,890 |
Office furniture and equipment | 3,080 |  |  | 3,087 |
Leasehold improvements | 39,875 |  |  | 38,787 |
| 563,736 |  |  | 554,613 |
Less: accumulated depreciation | (284,069) |  |  | (272,503) |
| 279,667 |  |  | 282,110 |
Equipment and construction in progress | 74,562 |  |  | 75,721 |
Property, plant and equipment, net | $ | 354,229 |  |  | $ | 357,831 |
Intangible assets, net:
| September 30, 2023 |  | June 30, 2023
| (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 | (13,771) |  |  | (12,959) |
| 5,684 |  |  | 6,496 |
Goodwill | 269 |  |  | 269 |
Intangible assets, net | $ | 5,953 |  |  | $ | 6,765 |
Estimated future minimum amortization expense of intangible assets is as follows (in thousands):
Year ending June 30, |
2024 (Remaining) | $ | 2,437 |
2025 | 3,247 |
| $ | 5,684 |
Other long-term assets:
| September 30, 2023 |  | June 30, 2023
| (in thousands)
Prepayments for property and equipment | $ | 3,274 |  |  | $ | 1,717 |
Investment in a privately held company | 100 |  |  | 100 |
Customs deposit | 995 |  |  | 931 |
Deposit with supplier | 12,191 |  |  | 12,290 |
Other long-term deposits | 37 |  |  | 37 |
Office leases deposits | 1,391 |  |  | 1,274 |
Other | 3,290 |  |  | 3,354 |
| $ | 21,278 |  |  | $ | 19,703 |
Accrued liabilities:
| September 30, 2023 |  | June 30, 2023
| (in thousands)
Accrued compensation and benefits | $ | 20,159 |  |  | $ | 15,627 |
Warranty accrual | 2,006 |  |  | 1,674 |
Stock rotation accrual | 5,595 |  |  | 5,588 |
Accrued professional fees | 2,398 |  |  | 2,458 |
Accrued inventory | 1,536 |  |  | 1,597 |
Accrued facilities related expenses | 2,261 |  |  | 2,327 |
Accrued property, plant and equipment | 6,767 |  |  | 6,402 |
Other accrued expenses | 4,176 |  |  | 4,401 |
Customer deposits | 35,646 |  |  | 38,082 |
ESPP payable | 3,404 |  |  | 1,377 |
| $ | 83,948 |  |  | $ | 79,533 |
Short-term customer deposits are payments received from customers for securing future product shipments. As of September 30, 2023, $12.5 million were from Customer A and $9.2 million were from Customer B, and $14.0 million were from other customers. As of June 30, 2023, $13.5 million were from Customer A and $9.2 million were from Customer B, and $15.4 million were from other customers. The activities in the warranty accrual, included in accrued liabilities, are as follows:
| Three Months Ended September 30, |
| 2023 |  | 2022 |
| (in thousands) |
Beginning balance | $ | 1,674 |  |  | $ | 2,650 |  |
Additions | 497 |  |  | 205 |  |
Utilization | (165) |  |  | (27) |  |
Ending balance | $ | 2,006 |  |  | $ | 2,828 |  |
The activities in the stock rotation accrual, included in accrued liabilities, are as follows:
| Three Months Ended September 30,
| 2023 |  | 2022
| (in thousands)
Beginning balance | $ | 5,588 |  |  | $ | 4,798 |
Additions | 3,008 |  |  | 3,677 |
Utilization | (3,001) |  |  | (3,765) |
Ending balance | $ | 5,595 |  |  | $ | 4,710 |
Other long-term liabilities:
| September 30, 2023 |  | June 30, 2023
| (in thousands)
Customer deposits | $ | 40,393 |  |  | $ | 46,393 |
Computer software liabilities | 3,580 |  |  | 4,644 |
Other long-term liabilities | $ | 43,973 |  |  | $ | 51,037 |
Customer deposits are payments received from customers for securing future product shipments. As of September 30, 2023, $17.0 million were from Customer A and $10.7 million were from Customer B, and $12.7 million were from other customers. As of June 30, 2023, $21.0 million were from Customer A and $11.7 million were from Customer B, and $13.7 million were from other customers.

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