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Balance Sheet Components | 9 Months Ended
--- | ---
Mar. 31, 2024
Balance Sheet Related Disclosures [Abstract] |
Balance Sheet Components | Balance Sheet Components Accounts receivable, net:
| March 31, 2024 |  | June 30, 2023
| (in thousands)
Accounts receivable | $ | 62,565 |  |  | $ | 62,426 |
Less: Allowance for price adjustments | (49,281) |  |  | (39,976) |
Less: Allowance for doubtful accounts | (30) |  |  | (30) |
Accounts receivable, net | $ | 13,254 |  |  | $ | 22,420 |
Inventories:
| March 31, 2024 |  | June 30, 2023
| (in thousands)
Raw materials | $ | 83,535 |  |  | $ | 86,620 |
Work-in-process | 88,808 |  |  | 69,426 |
Finished goods | 25,755 |  |  | 27,201 |
| $ | 198,098 |  |  | $ | 183,247 |
Other current assets:
| March 31, 2024 |  | June 30, 2023
| (in thousands)
Value-added tax receivable | $ | 280 |  |  | $ | 275 |
Other prepaid expenses | 2,911 |  |  | 3,863 |
Prepaid insurance | 693 |  |  | 4,162 |
Prepaid maintenance | 1,496 |  |  | 1,697 |
Prepayment to supplier | 115 |  |  | 10,689 |
Prepaid income tax | 2,326 |  |  | 707 |
Interest receivable | 364 |  |  | 135 |
Other receivables | 419 |  |  | 1,138 |
| $ | 8,604 |  |  | $ | 22,666 |
Property, plant and equipment, net:
| March 31, 2024 |  | June 30, 2023
| (in thousands)
Land | $ | 4,877 |  |  | $ | 4,877 |
Building and building improvements | 26,970 |  |  | 26,478 |
Manufacturing machinery and equipment | 415,598 |  |  | 398,757 |
Equipment and tooling | 35,553 |  |  | 32,737 |
Computer equipment and software | 51,870 |  |  | 49,890 |
Office furniture and equipment | 3,264 |  |  | 3,087 |
Leasehold improvements | 41,521 |  |  | 38,787 |
| 579,653 |  |  | 554,613 |
Less: accumulated depreciation and amortization | (308,439) |  |  | (272,503) |
| 271,214 |  |  | 282,110 |
Equipment and construction in progress | 68,301 |  |  | 75,721 |
Property, plant and equipment, net | $ | 339,515 |  |  | $ | 357,831 |
Intangible assets, net:
| March 31, 2024 |  | 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 | (15,396) |  |  | (12,959) |
| 4,059 |  |  | 6,496 |
Goodwill | 269 |  |  | 269 |
Intangible assets, net | $ | 4,328 |  |  | $ | 6,765 |
Estimated future minimum amortization expense of intangible assets is as follows (in thousands):
Year ending June 30, |
2024 (Remaining) | $ | 812 |
2025 | 3,247 |
| $ | 4,059 |
Other long-term assets:
| March 31, 2024 |  | June 30, 2023
| (in thousands)
Prepayments for property and equipment | $ | 3,229 |  |  | $ | 1,717 |
Investment in a privately held company | 100 |  |  | 100 |
Customs deposit | 651 |  |  | 931 |
Deposit with supplier | 23,342 |  |  | 12,290 |
Other long-term deposits | 37 |  |  | 37 |
Office leases deposits | 1,347 |  |  | 1,274 |
Other | 2,785 |  |  | 3,354 |
| $ | 31,491 |  |  | $ | 19,703 |
Accrued liabilities:
| March 31, 2024 |  | June 30, 2023
| (in thousands)
Accrued compensation and benefits | $ | 15,407 |  |  | $ | 15,627 |
Warranty accrual | 2,282 |  |  | 1,674 |
Stock rotation accrual | 4,678 |  |  | 5,588 |
Accrued professional fees | 2,188 |  |  | 2,458 |
Accrued inventory | 565 |  |  | 1,597 |
Accrued facilities related expenses | 2,117 |  |  | 2,327 |
Accrued property, plant and equipment | 5,756 |  |  | 6,402 |
Other accrued expenses | 4,138 |  |  | 4,401 |
Customer deposits | 33,085 |  |  | 38,082 |
ESPP payable | 3,371 |  |  | 1,377 |
| $ | 73,587 |  |  | $ | 79,533 |
Short-term customer deposits are payments received from customers for securing future product shipments. As of March 31, 2024, $10.0 million were from Customer A, $8.9 million were from Customer B, and $14.2 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:
| Nine Months Ended March 31, |
| 2024 |  | 2023 |
| (in thousands) |
Beginning balance | $ | 1,674 |  |  | $ | 2,650 |  |
Additions | 773 |  |  | 2,915 |  |
Utilization | (165) |  |  | (1,750) |  |
Ending balance | $ | 2,282 |  |  | $ | 3,815 |  |
The activities in the stock rotation accrual, included in accrued liabilities, are as follows:
| Nine Months Ended March 31,
| 2024 |  | 2023
| (in thousands)
Beginning balance | $ | 5,588 |  |  | $ | 4,798 |
Additions | 7,849 |  |  | 9,187 |
Utilization | (8,759) |  |  | (9,904) |
Ending balance | $ | 4,678 |  |  | $ | 4,081 |
Other long-term liabilities:
| March 31, 2024 |  | June 30, 2023
| (in thousands)
Customer deposits | $ | 22,361 |  |  | $ | 46,393 |
Computer software liabilities | 1,223 |  |  | 4,644 |
Other long-term liabilities | $ | 23,584 |  |  | $ | 51,037 |
Customer deposits are payments received from customers for securing future product shipments. As of March 31, 2024, $12.0 million were from Customer A, $3.0 million were from Customer B, and $7.4 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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