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Balance Sheet Components
 12 Months Ended
Jun. 30, 2024
Balance Sheet Related Disclosures [Abstract]  
Balance Sheet Components Balance Sheet Components
Accounts receivable, net
 
June 30,  
 20242023
(in thousands)
Accounts receivable$54,265 $62,426 
Less: Allowance for price adjustments(41,689)(39,976)
Less: Allowance for doubtful accounts(30)(30)
Accounts receivable, net$12,546 $22,420 
Inventories
 
June 30,
 20242023
(in thousands)
Raw materials$78,064 $86,620 
Work in-process87,898 69,426 
Finished goods29,788 27,201 
 $195,750 $183,247 

Other current assets
 
June 30,
 20242023
(in thousands)
VAT receivable$304 $275 
Other prepaid expenses1,822 3,863 
Prepaid insurance4,623 4,162 
Prepaid maintenance2,195 1,697 
Prepayments to supplier1,301 10,689 
Prepaid income tax819 707 
Interest receivable383 135 
Other receivables2,718 1,138 
 $14,165 $22,666 
Property, plant and equipment, net
 
June 30,  
 20242023
(in thousands)
Land$4,877 $4,877 
Building and building improvements71,266 26,478 
Manufacturing machinery and equipment423,960 398,757 
Equipment and tooling36,203 32,737 
Computer equipment and software53,081 49,890 
Office furniture and equipment3,193 3,087 
Leasehold improvements41,671 38,787 
 634,251 554,613 
Less: accumulated depreciation(320,751)(272,503)
 313,500 282,110 
Equipment and construction in progress23,119 75,721 
Property, plant and equipment, net$336,619 $357,831 
Total depreciation expense was $50.5 million, $40.4 million and $39.9 million for fiscal years 2024, 2023 and 2022, respectively.
The Company capitalized $0.6 million, $0.5 million and $0.3 million of software development costs during the fiscal years 2024, 2023 and 2022, respectively. Amortization of capitalized software development costs was $0.6 million in fiscal year 2024, $0.4 million in fiscal year 2023 and $0.4 million in fiscal year 2022. Unamortized capitalized software development costs in each of the periods presented at June 30, 2024 and 2023 were $1.0 million and $0.9 million, respectively.
Other long-term assets
June 30,  
 20242023
(in thousands)
Prepayments for property and equipment$620 $1,717 
Investment in privately held companies100 100 
Customs deposit 652 931 
Deposit with supplier22,117 12,290 
Other long-term deposits37 37 
Office leases deposits1,418 1,274 
Other295 3,354 
 $25,239 $19,703 
Intangible assets, net
 
June 30,  
 20242023
(in thousands)
Patents and technology rights$18,037 $18,037 
Trade name268 268 
Customer relationships1,150 1,150 
19,455 19,455 
Less: accumulated amortization(16,208)(12,959)
3,247 6,496 
Goodwill269 269 
Intangible assets, net$3,516 $6,765 

The Company is amortizing intangible assets of patents and technology rights related to a license agreement with STMicroelectronics International N.V. Amortization expense for intangible assets was $3.2 million, $3.3 million and $3.4 million for the years ended June 30, 2024, 2023 and 2022, respectively. The estimated useful lives for patents and technology rights and trade name were five years and ten years, respectively. Customer relationships are fully amortized.
Estimated future minimum amortization expense of intangible assets is as follows (in thousands):
Year ending June 30,
2025$3,247 
Accrued liabilities
 
June 30,  
 20242023
(in thousands)
Accrued compensation and benefits$14,945 $15,627 
Warranty accrual2,407 1,674 
Stock rotation accrual4,660 5,588 
Accrued professional fees3,198 2,458 
Accrued inventory728 1,597 
Accrued facilities related expenses2,137 2,327 
Accrued property, plant and equipment6,986 6,402 
Other accrued expenses3,822 4,401 
Customer deposits32,182 38,082 
ESPP payable1,306 1,377 
 $72,371 $79,533 
Short-term customer deposits are payments received from customers for securing future product shipments. As of June 30, 2024, $9.0 million were from Customer A, $8.9 million were from Customer B, and $14.3 million were from other customers. As of June 30, 2023, $13.5 million were from Customer A, $9.2 million were from Customer B, and $15.4 million were from other customers.
The activity in the warranty accrual, included in accrued liabilities is as follows:
Year Ended June 30,
202420232022
(in thousands)
Beginning balance$1,674 $2,650 $2,795 
Addition1,186 3,666 1,127 
Utilization(453)(4,642)(1,272)
Ending balance$2,407 $1,674 $2,650 
    The activity in the stock rotation accrual, included in accrued liabilities is as follows:
Year Ended June 30,
202420232022
(in thousands)
Beginning balance$5,588 $4,798 $3,917 
Addition11,044 13,950 5,817 
Utilization(11,972)(13,160)(4,936)
Ending balance$4,660 $5,588 $4,798 
Other long-term liabilities
 
June 30,  
 20242023
(in thousands)
Customer deposits $19,661 $46,393 
Computer software liabilities— 4,644 
Other long-term liabilities$19,661 $51,037 
    Customer deposits are payments received from customers for securing future product shipments. As of June 30, 2024, $12.0 million were from Customer A, $2.0 million were from Customer B, and $5.7 million were from other customers. As of June 30, 2023, $21.0 million were from Customer A, $11.7 million were from Customer B and $13.7 million were from other customers.