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Balance Sheet Components | 6 Months Ended
--- | ---
Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract] |
Balance Sheet Components | Balance Sheet Components Accounts receivable, net:
| December 31, 2024 |  | June 30, 2024
| (in thousands)
Accounts receivable | $ | 67,003 |  |  | $ | 54,265 |
Less: Allowance for price adjustments | (47,094) |  |  | (41,689) |
Less: Allowance for credit losses | (30) |  |  | (30) |
Accounts receivable, net | $ | 19,879 |  |  | $ | 12,546 |
Inventories:
| December 31, 2024 |  | June 30, 2024
| (in thousands)
Raw materials | $ | 79,703 |  |  | $ | 78,064 |
Work-in-process | 83,729 |  |  | 87,898 |
Finished goods | 20,301 |  |  | 29,788 |
| $ | 183,733 |  |  | $ | 195,750 |
Other current assets:
| December 31, 2024 |  | June 30, 2024
| (in thousands)
Value-added tax receivable | $ | 370 |  |  | $ | 304 |
Other prepaid expenses | 2,614 |  |  | 1,822 |
Prepaid insurance | 2,534 |  |  | 4,623 |
Prepaid maintenance | 1,605 |  |  | 2,195 |
Prepayment to supplier | 5,149 |  |  | 1,301 |
Prepaid income tax | 1,058 |  |  | 819 |
Interest receivable | 339 |  |  | 383 |
Short term deposit | 261 |  |  | 21 |
Other receivables | 1,503 |  |  | 2,697 |
| $ | 15,433 |  |  | $ | 14,165 |
Property, plant and equipment, net:
| December 31, 2024 |  | June 30, 2024
| (in thousands)
Land | $ | 4,877 |  |  | $ | 4,877 |
Building and building improvements | 71,638 |  |  | 71,266 |
Manufacturing machinery and equipment | 427,359 |  |  | 423,960 |
Equipment and tooling | 35,678 |  |  | 36,203 |
Computer equipment and software | 52,720 |  |  | 53,081 |
Office furniture and equipment | 3,256 |  |  | 3,193 |
Leasehold improvements | 42,967 |  |  | 41,671 |
| 638,495 |  |  | 634,251 |
Less: accumulated depreciation and amortization | (344,695) |  |  | (320,751) |
| 293,800 |  |  | 313,500 |
Equipment and construction in progress | 23,993 |  |  | 23,119 |
Property, plant and equipment, net | $ | 317,793 |  |  | $ | 336,619 |
Intangible assets, net:
| December 31, 2024 |  | June 30, 2024
| (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 | (17,831) |  |  | (16,208) |
| 1,624 |  |  | 3,247 |
Goodwill | 269 |  |  | 269 |
Intangible assets, net | $ | 1,893 |  |  | $ | 3,516 |
Future amortization expense of intangible assets is as follows (in thousands):
Year ending June 30, |
2025 (Remaining) | $ | 1,624 |
Other long-term assets:
| December 31, 2024 |  | June 30, 2024
| (in thousands)
Prepayments for property and equipment | $ | 1,570 |  |  | $ | 620 |
Investment in a privately held company | — |  |  | 100 |
Customs deposit | 597 |  |  | 652 |
Deposit with supplier | 18,221 |  |  | 22,117 |
Office leases deposits | 1,283 |  |  | 1,418 |
Other | 495 |  |  | 332 |
| $ | 22,166 |  |  | $ | 25,239 |
Accrued liabilities:
| December 31, 2024 |  | June 30, 2024
| (in thousands)
Accrued compensation and benefits | $ | 20,593 |  |  | $ | 14,945 |
Warranty accrual | 1,960 |  |  | 2,407 |
Stock rotation accrual | 4,138 |  |  | 4,660 |
Accrued professional fees | 2,464 |  |  | 3,198 |
Accrued inventory | 2,237 |  |  | 728 |
Accrued facilities related expenses | 2,462 |  |  | 2,137 |
Accrued property, plant and equipment | 4,043 |  |  | 6,986 |
Other accrued expenses | 4,764 |  |  | 3,822 |
Customer deposits | 27,370 |  |  | 32,182 |
ESPP payable | 1,361 |  |  | 1,306 |
| $ | 71,392 |  |  | $ | 72,371 |
Short-term customer deposits are payments received from customers for securing future product shipments. As of December 31, 2024, $9.0 million for such deposits were from Customer A, $4.5 million were from Customer B, and $13.9 million were from other customers. 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. The activities in the warranty accrual, included in accrued liabilities, are as follows:
| Six Months Ended December 31, |
| 2024 |  | 2023 |
| (in thousands) |
Beginning balance | $ | 2,407 |  |  | $ | 1,674 |  |
Additions | 656 |  |  | 643 |  |
Released | (700) |  |  | — |  |
Utilization | (403) |  |  | (165) |  |
Ending balance | $ | 1,960 |  |  | $ | 2,152 |  |
The activities in the stock rotation accrual, included in accrued liabilities, are as follows:
| Six Months Ended December 31,
| 2024 |  | 2023
| (in thousands)
Beginning balance | $ | 4,660 |  |  | $ | 5,588 |
Additions | 4,709 |  |  | 5,504 |
Utilization | (5,231) |  |  | (5,634) |
Ending balance | $ | 4,138 |  |  | $ | 5,458 |
Other long-term liabilities:
| December 31, 2024 |  | June 30, 2024
| (in thousands)
Customer deposits | $ | 8,000 |  |  | $ | 19,661 |
Computer software liabilities | 390 |  |  | — |
Other long-term liabilities | $ | 8,390 |  |  | $ | 19,661 |
Customer deposits are payments received from customers for securing future product shipments. As of December 31, 2024, $5.0 million for such deposits were from Customer A, $1.0 million were from Customer B, and $2.0 million were from other customers. 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.

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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