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Income Taxes (Tables)

12 Months Ended

Jun. 30, 2023

Text Block [Abstract]

Schedule of Income Before Income Taxes

Income (Loss) before income tax provision consisted of the following (in thousands):

​	​	​	​	​	​	​
​	​	Fiscal Year Ended June 30,
​		2023			2022
United States		$	(460)	​	$	(4,214)
Foreign		​	3,816	​		3,008
Income (Loss) before income tax provision	​	$	3,356	​	$	(1,206)

Reconciliation of Federal Statutory Tax Rate to Effective Tax Rate

The reconciliation of income tax expense at the statutory federal income tax rate and the Company’s effective tax rate is as follows (in thousands):

​	​	​	​	​	​	​
​	​	​	Fiscal Year Ended June 30,
​		​	2023		​	2022
​	​	​	​	​	​	​
Federal statutory income tax rate		$	(705)	​	$	253
Current state taxes, net of federal benefit		​	1,152		​	134
Foreign rate differential		​	559		​	98
Research and development credits		​	747	​	​	433
Foreign withholding tax		​	(27)		​	(63)
Stock-based compensation	​	​	(136)	​	​	(102)
Deferred return to provision	​	​	(284)	​	​	(213)
Other items		​	(118)		​	(12)
Net change in valuation allowance	​	​	(1,726)	​	​	3,079
Foreign income	​	​	(709)	​	​	—
Expiration of tax attributes		​	—		​	(4,842)
Income tax provision		$	(1,247)	​	$	(1,235)

​

Schedule of Components of Income Tax (Benefit) Provision

The components of the income tax provision are as follows (in thousands):

​

​	​	​	​	​	​	​
​	​	Fiscal Year Ended June 30,
​		2023			2022
Current provision:		​	​	​	​	​
Federal	​	$	—	​	$	—
State	​		(576)	​		(350)
Foreign	​	​	(1,221)	​	​	(586)
Total current:	​		(1,797)	​		(936)
Deferred:	​		​	​		​
Federal	​	​	—	​	​	—
State	​	​	—	​	​	—
Foreign	​		550	​		(299)
Total deferred:	​		550	​		(299)
Income tax provision	​	$	(1,247)	​	$	(1,235)

Schedule of Components of Deferred Tax Assets and Liabilities

Significant components of our deferred tax assets and liabilities for federal, state and foreign income taxes are as follows (in thousands):

​

​	​	​	​	​	​	​
​	​	As of June 30,
​		2023			2022
Deferred tax assets:	​	​	​	​	​	​
Net operating loss carryforwards	​	$	9,115	​	$	14,637
Research credits	​		9,404	​		8,321
Deferred revenue	​		898	​		1,036
Stock-based compensation	​		4,500	​		2,899
Accruals and reserves	​		1,126	​		6,057
Lease liability	​	​	563	​	​	664
Other	​		152	​		104
Capitalized research and development	​	​	10,088	​	​	—
Gross deferred tax assets	​		35,846	​		33,718
Less valuation allowance	​		(34,139)	​		(32,412)
Net deferred tax assets	​	$	1,707	​	$	1,306
Gross deferred tax liabilities	​	​	​	​	​	​
Right-of-use asset	​	$	(601)	​	$	(723)
Fixed assets	​	​	(42)	​	​	(69)
Gross deferred tax liabilities	​	​	(643)	​	​	(792)
Total deferred tax assets, net *	​	$	1,064	​	$	514
​	​	​	​	​	​	​
*included in other assets, net, on consolidated balance sheets	​	​	​	​	​	​

​

Schedule of Aggregate Changes in the Balance of Gross Unrecognized Tax Benefits

The aggregate changes in the balance of our gross unrecognized tax benefits during fiscal years 2023 and 2022 were as follows (in thousands):

​	​	​	​	​	​	​
​	​	Fiscal Year Ended June 30,
​		2023			2022
Beginning balance	​	$	1,556	​	$	1,762
Increases in balances related to tax positions taken during current periods	​		130	​		89
Expired Attributes	​	​	(135)	​	​	(295)
Ending balance	​	$	1,551	​	$	1,556

​

​

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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