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Share-based Compensation (Tables) | 12 Months Ended
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Jun. 30, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract] |
Summary of Stock Option Activities | The following table summarizes the Company's stock option activities:
|  |  |  |  |  |  |  | Weighted |  |
|  |  |  | Weighted |  |  |  | Average |  |
|  |  |  | Average |  |  |  | Remaining |  |
|  | Number of |  | Exercise Price |  |  |  | Contractual |  | Aggregate
|  | Shares |  | Per Share |  |  |  | Term (in years) |  | Intrinsic Value
Outstanding at June 30, 2021 |  | 487,875 |  |  | $ | 7.99 |  |  |  |  | 2.32 |  |
Exercised |  | (98,000) |  |  | $ | 9.15 |  |  |  |  |  |  | $ | 3,936,675 |
Outstanding at June 30, 2022 |  | 389,875 |  |  | $ | 7.70 |  |  |  |  | 1.53 |  |
Exercised |  | (65,500) |  |  | $ | 8.42 |  |  |  |  |  |  | $ | 1,442,646 |
Canceled or forfeited |  | (5,000) |  |  | $ | 9.19 |  |  |  |  |  |  |
Outstanding at June 30, 2023 |  | 319,375 |  |  | $ | 7.53 |  |  |  |  | 0.72 |  | $ | 8,071,631 |
Exercised |  | (309,375) |  |  | $ | 7.48 |  |  |  |  |  |  | $ | 5,588,750 |
Outstanding at June 30, 2024 |  | 10,000 |  |  | $ | 9.07 |  |  |  |  | 0.13 |  | $ | 283,000 |
Options vested and expected to vest |  | 10,000 |  |  | $ | 9.07 |  |  |  |  | 0.13 |  | $ | 283,000 |
Exercisable at June 30, 2024 |  | 10,000 |  |  | $ | 9.07 |  |  |  |  | 0.13 |  | $ | 283,000 |
Restricted Stock Units Activity | The following table summarizes the Company's TRSU activities:
|  | Number of Time-based Restricted Stock Units |  | Weighted Average Grant Date Fair Value Per Share |  | Weighted Average Remaining Recognition Period (Years) |  | Aggregate Intrinsic Value
Nonvested at June 30, 2021 |  | 1,053,524 |  |  | $ | 21.60 |  |  | 1.73 |  | $ | 32,016,594 |
Granted |  | 597,381 |  |  | $ | 45.83 |  |  |  |  |
Vested |  | (410,670) |  |  | $ | 20.54 |  |  |  |  |
Forfeited |  | (70,626) |  |  | $ | 26.79 |  |  |  |  |
Nonvested at June 30, 2022 |  | 1,169,609 |  |  | $ | 34.03 |  |  | 1.73 |  | $ | 38,994,764 |
Granted |  | 714,080 |  |  | $ | 27.70 |  |  |  |  |
Vested |  | (451,549) |  |  | $ | 28.84 |  |  |  |  |
Forfeited |  | (47,075) |  |  | $ | 33.40 |  |  |  |  |
Nonvested at June 30, 2023 |  | 1,385,065 |  |  | $ | 32.48 |  |  | 1.73 |  | $ | 45,430,132 |
Granted |  | 679,993 |  |  | $ | 23.12 |  |  |  |  |
Vested |  | (521,109) |  |  | $ | 30.00 |  |  |  |  |
Forfeited |  | (74,814) |  |  | $ | 30.34 |  |  |  |  |
Nonvested at June 30, 2024 |  | 1,469,135 |  |  | $ | 29.13 |  |  | 1.66 |  | $ | 54,901,575 |
The following table summarizes the Company’s PRSU activities:
|  | Number of Performance-based Restricted Stock Units |  | Weighted Average Grant Date Fair Value Per Share |  | Weighted Average Remaining Recognition Period (Years) |  | Aggregate Intrinsic Value
Nonvested at June 30, 2021 |  | 353,824 |  |  | $ | 22.69 |  |  | 1.74 |  | $ | 10,752,711 |
Granted |  | 194,000 |  |  | $ | 48.65 |  |  |  |  |
Vested |  | (151,199) |  |  | $ | 19.44 |  |  |  |  |
Forfeited |  | (7,250) |  |  | $ | 40.33 |  |  |  |  |
Nonvested at June 30, 2022 |  | 389,375 |  |  | $ | 36.56 |  |  | 1.85 |  | $ | 12,981,763 |
Granted |  | 264,214 |  |  | $ | 25.70 |  |  |  |  |
Vested |  | (116,132) |  |  | $ | 30.54 |  |  |  |  |
Forfeited |  | (10,743) |  |  | $ | 48.65 |  |  |  |  |
Nonvested at June 30, 2023 |  | 526,714 |  |  | $ | 32.19 |  |  | 1.78 |  | $ | 17,276,219 |
Granted |  | 209,250 |  |  | $ | 21.55 |  |  |  |  |
Vested |  | (123,632) |  |  | $ | 30.50 |  |  |  |  |
Forfeited |  | (268,207) |  |  | $ | 26.59 |  |  |  |  |
Nonvested at June 30, 2024 |  | 344,125 |  |  | $ | 30.69 |  |  | 1.73 |  | $ | 12,859,951 |
Schedule of Nonvested Share Activity |
The following table summarizes the Company’s MSUs activities:
|  | Number of Market-based Restricted Stock Units |  | Weighted Average Grant Date Fair Value Per Share |  | Weighted Average Remaining Recognition Period (Years) |  | Aggregate Intrinsic Value
Nonvested at June 30, 2021 |  | 1,240,000 |  |  | $ | 5.17 |  |  | 3.84 |  | $ | 37,683,600 |
Granted |  | 1,022,000 |  |  | $ | 48.44 |  |  |  |  |
Forfeited |  | (56,000) |  |  | $ | 9.81 |  |  |  |  |
Nonvested at June 30, 2022 |  | 2,206,000 |  |  | $ | 25.10 |  |  | 3.83 |  | $ | 73,548,040 |
Vested |  | (90,000) |  |  | $ | 5.17 |  |  |  |  |
Forfeited |  | (8,000) |  |  | $ | 48.44 |  |  |  |  |
Nonvested at June 30, 2023 |  | 2,108,000 |  |  | $ | 25.86 |  |  | 2.96 |  | $ | 69,142,400 |
Vested |  | (275,000) |  |  | $ | 5.17 |  |  |  |  |
Forfeited |  | (106,000) |  |  | $ | 42.32 |  |  |  |  |
Nonvested at June 30, 2024 |  | 1,727,000 |  |  | $ | 28.15 |  |  | 2.83 |  | $ | 64,537,990 |
Employee Stock Purchase Plan, Valuation Assumptions | The ESPP is compensatory and results in compensation expense. The fair values of common shares to be issued under the ESPP were determined using the Black-Scholes option pricing model with the following assumptions:
| Year Ended June 30,
| 2024 |  | 2023 |  | 2022
Volatility rate | 53.0% - 64.3% |  | 64.0% - 70.5% |  | 66.4% - 69.9%
Risk-free interest rate | 5.0% - 5.2% |  | 4.5% - 4.6% |  | 0.3% - 2.1%
Expected term | 1.3 years |  | 1.3 years |  | 1.3 years
Dividend yield | —% |  | —% |  | —%
Share-based Compensation, Allocation of Recognized Period Costs | Share-based Compensation Expenses The total share-based compensation expense related to TRSU, PRSUs, MSUs, stock options and ESPP described above, recognized in the consolidated statements of operations for the years presented was as follows:
| Year Ended June 30,
| 2024 |  | 2023 |  | 2022
| (in thousands)
Cost of goods sold | $ | 3,434 |  |  | $ | 5,851 |  |  | $ | 5,125 |
Research and development | 5,210 |  |  | 9,437 |  |  | 7,049 |
Selling, general and administrative | 12,997 |  |  | 22,200 |  |  | 19,150 |
| $ | 21,641 |  |  | $ | 37,488 |  |  | $ | 31,324 |

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