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Joint Venture (Tables)
 3 Months Ended
Sep. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]  
Summary of Reconciliation Between the Carrying Value of Investment and Proportional Share of Underlying Equity in Net Assets of Joint Ventures

The following table shows the reconciliation between the carrying value of the Company's investment in the JV and its proportional share of the underlying equity in net assets of the JV (in thousands):

 

 

 

September 30,
 2023

 

 

June 30,
2023

 

Carrying value of investment in joint venture

 

$

13,121

 

 

$

15,128

 

Deferred intra-entity profit margin

 

 

7,314

 

 

 

5,737

 

Equity method goodwill

 

 

(4,720

)

 

 

(4,720

)

Proportional share of equity investment in joint venture

 

$

15,715

 

 

$

16,145

 

 
Summary of Financial Information of Joint Ventures (Operations Data)

Summarized financial information of the JV is as follows (in thousands):

 

 

 

Three Months Ended
June 30,

 

Statement of Operations Data:

 

2023

 

 

2022

 

Revenue

 

$

31,855

 

 

$

26,740

 

Gross profit

 

 

5,813

 

 

 

4,596

 

Net income (loss)

 

 

879

 

 

 

(752

)

Net income (loss) attributable to the Company

 

 

431

 

 

 

(368

)
Summary of Financial Information of Joint Ventures (Balance Sheet Data)

Summarized Balance Sheet Data:

 

As of
June 30, 2023

 

 

As of
June 30, 2022

 

Assets

 

 

 

 

 

 

Current assets

 

$

76,394

 

 

$

72,241

 

Non-current assets

 

 

14,345

 

 

 

19,701

 

Total assets

 

$

90,739

 

 

$

91,942

 

Liabilities and Stockholders' Equity

 

 

 

 

 

 

Current liabilities

 

$

57,898

 

 

$

63,006

 

Non-current liabilities

 

 

227

 

 

 

862

 

Stockholders' equity

 

 

32,614

 

 

 

28,074

 

Total liabilities and stockholders' equity

 

$

90,739

 

 

$

91,942

 
Schedule of Deferred Intra Entity Profit Margin from Sales

The following table shows the activity of the Company’s deferred intra-entity profit margin from sales (in thousands):

 

 

 

Three Months Ended
September 30,

 

 

 

2023

 

 

2022

 

Previously deferred intra-entity profit margin from sales - recognized

 

$

(1,585

)

 

$

(2,348

)

Intra-entity profit margin from sales - deferred

 

 

3,161

 

 

 

2,387

 

Total change in deferred intra-entity profit margin from sales

 

$

1,576

 

 

$

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