Balance Sheet Components

6 Months Ended

Dec. 31, 2024

Balance Sheet Related Disclosures [Abstract]

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.