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INCOME TAXES (Tables) | 12 Months Ended
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Jun. 30, 2024
Income Tax Disclosure [Abstract] |
Schedule of Benefit (Provision) for Income Taxes | The provision for income taxes for the years ended June 30, 2024, 2023 and 2022 is comprised of the following:
| Year ended June 30,
($ in thousands) | 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |
Federal | $ | (65) |  |  | $ | — |  |  | $ | — |
State | (729) |  |  | (92) |  |  | (179) |
Foreign | — |  |  | — |  |  | — |
Total current | (794) |  |  | (92) |  |  | (179) |
Deferred: |  |  |  |  |
Federal | (248) |  |  | (62) |  |  | (18) |
State | 57 |  |  | (27) |  |  | 11 |
Foreign | — |  |  | — |  |  | — |
Total deferred | (191) |  |  | (89) |  |  | (7) |
Total income tax provision | $ | (985) |  |  | $ | (181) |  |  | $ | (186) |
Schedule of Income Tax Benefit in the Provision for Income Taxes | A reconciliation of the provision for income taxes for the years ended June 30, 2024, 2023 and 2022 to the indicated provision based on income (loss) before the provision for income taxes at the federal statutory rate of 21.0% for the fiscal years ended June 30, 2024, June 30, 2023, and June 30, 2022 is as follows:
| Year ended June 30,
($ in thousands) | 2024 |  | 2023 |  | 2022
Tax at U.S Federal statutory rate | $ | (2,725) |  |  | $ | (171) |  |  | $ | 319 |
Effects of permanent differences |  |  |  |  |
Stock compensation | $ | 24 |  |  | $ | (688) |  |  | $ | (184) |
Other permanent differences | $ | (81) |  |  | $ | (497) |  |  | $ | (106) |
State income taxes, net of federal benefit | $ | (613) |  |  | $ | (296) |  |  | $ | (275) |
Changes related to prior years | $ | — |  |  | $ | 51 |  |  | $ | — |
Changes related to state tax rates | $ | — |  |  | $ | (2,455) |  |  | $ | — |
Changes in valuation allowances | $ | 2,281 |  |  | $ | 3,942 |  |  | $ | 184 |
Statutory Rates Different from U.S. | $ | 183 |  |  | $ | — |  |  | $ | — |
Other | $ | (54) |  |  | $ | (67) |  |  | $ | (124) |
Total | $ | (985) |  |  | $ | (181) |  |  | $ | (186) |
Schedule of Deferred Tax Assets and Liabilities | The net deferred tax assets arose primarily from net operating loss carryforwards, as well as the use of different accounting methods for financial statement and income tax reporting purposes as follows:
| As of June 30,
($ in thousands) | 2024 |  | 2023
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 37,621 |  |  | $ | 42,614 |
Receivable credit losses | 1,367 |  |  | 1,180 |
Inventory reserves | 541 |  |  | 580 |
Sales returns and allowances | 2,463 |  |  | 1,916 |
Sales tax reserves | 1,876 |  |  | 2,824 |
Deferred research and development | 5,750 |  |  | 2,856 |
Stock-based compensation | 4,327 |  |  | 3,798 |
Lease liabilities | 2,410 |  |  | 884 |
Other | 346 |  |  | 190 |
| 56,701 |  |  | 56,842 |
Deferred tax liabilities: |  |  |
Intangibles | (3,502) |  |  | (3,689) |
Property and equipment | (1,179) |  |  | (1,466) |
Right-of-use assets | (1,954) |  |  | (586) |
| (6,635) |  |  | (5,741) |
Deferred tax assets, net | 50,066 |  |  | 51,101 |
Valuation allowance | (50,532) |  |  | (51,376) |
Deferred income taxes | $ | (466) |  |  | $ | (275) |
Summary of Activity Related to Unrecognized Income Tax Benefits | The following table summarizes the activity related to unrecognized income tax benefits:
| Year ended June 30,
($ in thousands) | 2024 |  | 2023 |  | 2022
Balance at the beginning of the year | $ | 689 |  |  | $ | 572 |  |  | $ | 444 |
Gross increases and decreases related to current period tax positions | — |  |  | — |  |  | — |
Gross increases and decreases related to prior period tax positions | 110 |  |  | 117 |  |  | 128 |
Balance at the end of the year | $ | 799 |  |  | $ | 689 |  |  | $ | 572 |
Schedule of Pre-Tax Income (Loss) | The components of pre-tax income (loss) are as follows:
| Year ended June 30,
($ in thousands) | 2024 |  | 2023 |  | 2022
U.S. income (loss) | $ | 16,217 |  |  | $ | 996 |  |  | $ | (1,517) |
Other income (loss) | (3,239) |  |  | (182) |  |  | — |
Total income (loss) | $ | 12,978 |  |  | $ | 814 |  |  | $ | (1,517) |

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