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Balance Sheet Components | 6 Months Ended
--- | ---
Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract] |
Balance Sheet Components | Balance Sheet Components Accounts receivable, net:
| December 31, 2023 |  | June 30, 2023
| (in thousands)
Accounts receivable | $ | 77,461 |  |  | $ | 62,426 |
Less: Allowance for price adjustments | (45,508) |  |  | (39,976) |
Less: Allowance for doubtful accounts | (30) |  |  | (30) |
Accounts receivable, net | $ | 31,923 |  |  | $ | 22,420 |
Inventories:
| December 31, 2023 |  | June 30, 2023
| (in thousands)
Raw materials | $ | 86,160 |  |  | $ | 86,620 |
Work-in-process | 80,125 |  |  | 69,426 |
Finished goods | 25,424 |  |  | 27,201 |
| $ | 191,709 |  |  | $ | 183,247 |
Other current assets:
| December 31, 2023 |  | June 30, 2023
| (in thousands)
Value-added tax receivable | $ | 340 |  |  | $ | 275 |
Other prepaid expenses | 3,482 |  |  | 3,863 |
Prepaid insurance | 2,144 |  |  | 4,162 |
Prepaid maintenance | 1,472 |  |  | 1,697 |
Prepayment to supplier | 10,967 |  |  | 10,689 |
Prepaid income tax | 1,010 |  |  | 707 |
Interest receivable | 399 |  |  | 135 |
Other receivables | 695 |  |  | 1,138 |
| $ | 20,509 |  |  | $ | 22,666 |
Property, plant and equipment, net:
| December 31, 2023 |  | June 30, 2023
| (in thousands)
Land | $ | 4,877 |  |  | $ | 4,877 |
Building and building improvements | 26,888 |  |  | 26,478 |
Manufacturing machinery and equipment | 410,788 |  |  | 398,757 |
Equipment and tooling | 35,228 |  |  | 32,737 |
Computer equipment and software | 51,298 |  |  | 49,890 |
Office furniture and equipment | 3,119 |  |  | 3,087 |
Leasehold improvements | 41,218 |  |  | 38,787 |
| 573,416 |  |  | 554,613 |
Less: accumulated depreciation and amortization | (296,504) |  |  | (272,503) |
| 276,912 |  |  | 282,110 |
Equipment and construction in progress | 72,134 |  |  | 75,721 |
Property, plant and equipment, net | $ | 349,046 |  |  | $ | 357,831 |
Intangible assets, net:
| December 31, 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 | (14,583) |  |  | (12,959) |
| 4,872 |  |  | 6,496 |
Goodwill | 269 |  |  | 269 |
Intangible assets, net | $ | 5,141 |  |  | $ | 6,765 |
Estimated future minimum amortization expense of intangible assets is as follows (in thousands):
Year ending June 30, |
2024 (Remaining) | $ | 1,625 |
2025 | 3,247 |
| $ | 4,872 |
Other long-term assets:
| December 31, 2023 |  | June 30, 2023
| (in thousands)
Prepayments for property and equipment | $ | 2,728 |  |  | $ | 1,717 |
Investment in a privately held company | 100 |  |  | 100 |
Customs deposit | 1,645 |  |  | 931 |
Deposit with supplier | 23,441 |  |  | 12,290 |
Other long-term deposits | 37 |  |  | 37 |
Office leases deposits | 1,405 |  |  | 1,274 |
Other | 4,106 |  |  | 3,354 |
| $ | 33,462 |  |  | $ | 19,703 |
Accrued liabilities:
| December 31, 2023 |  | June 30, 2023
| (in thousands)
Accrued compensation and benefits | $ | 20,176 |  |  | $ | 15,627 |
Warranty accrual | 2,152 |  |  | 1,674 |
Stock rotation accrual | 5,458 |  |  | 5,588 |
Accrued professional fees | 2,009 |  |  | 2,458 |
Accrued inventory | 1,110 |  |  | 1,597 |
Accrued facilities related expenses | 2,620 |  |  | 2,327 |
Accrued property, plant and equipment | 6,355 |  |  | 6,402 |
Other accrued expenses | 4,568 |  |  | 4,401 |
Customer deposits | 31,861 |  |  | 38,082 |
ESPP payable | 1,374 |  |  | 1,377 |
| $ | 77,683 |  |  | $ | 79,533 |
Short-term customer deposits are payments received from customers for securing future product shipments. As of December 31, 2023, $10.0 million were from Customer A, $9.2 million were from Customer B, and $12.7 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 activities in the warranty accrual, included in accrued liabilities, are as follows:
| Six Months Ended December 31, |
| 2023 |  | 2022 |
| (in thousands) |
Beginning balance | $ | 1,674 |  |  | $ | 2,650 |  |
Additions | 643 |  |  | 628 |  |
Utilization | (165) |  |  | (795) |  |
Ending balance | $ | 2,152 |  |  | $ | 2,483 |  |
The activities in the stock rotation accrual, included in accrued liabilities, are as follows:
| Six Months Ended December 31,
| 2023 |  | 2022
| (in thousands)
Beginning balance | $ | 5,588 |  |  | $ | 4,798 |
Additions | 5,504 |  |  | 6,359 |
Utilization | (5,634) |  |  | (7,074) |
Ending balance | $ | 5,458 |  |  | $ | 4,083 |
Other long-term liabilities:
| December 31, 2023 |  | June 30, 2023
| (in thousands)
Customer deposits | $ | 31,858 |  |  | $ | 46,393 |
Computer software liabilities | 2,485 |  |  | 4,644 |
Other long-term liabilities | $ | 34,343 |  |  | $ | 51,037 |
Customer deposits are payments received from customers for securing future product shipments. As of December 31, 2023, $14.0 million were from Customer A, $6.0 million were from Customer B, and $11.9 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.

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