Balance Sheet Components

9 Months Ended

Mar. 31, 2024

Balance Sheet Related Disclosures [Abstract]

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.