Balance Sheet Components

6 Months Ended

Dec. 31, 2023

Balance Sheet Related Disclosures [Abstract]

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.