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Supplemental Financial Information | 12 Months Ended
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Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Supplemental Financial Information | 4. Supplemental Financial Information Inventories The following table presents details of our inventories:
Schedule of Inventory |  |  |  |  |  |  |  |
|  | June 30, |
|  | 2021 |  |  | 2020 |
|  | (In thousands) |
Finished goods |  | $ | 7,738 |  |  | $ | 7,522 |
Raw materials |  |  | 7,321 |  |  |  | 6,259 |
Inventories, net |  | $ | 15,059 |  |  | $ | 13,781 |
Property and Equipment The following table presents details of property and equipment:
Schedule of Property and Equipment |  |  |  |  |  |  |  |
|  | June 30, |
|  | 2021 |  |  | 2020 |
|  | (In thousands) |
Computer, software and office equipment |  | $ | 4,338 |  |  | $ | 3,992 |
Furniture and fixtures |  |  | 633 |  |  |  | 511 |
Production, development and warehouse equipment |  |  | 4,707 |  |  |  | 4,777 |
Construction-in-progress |  |  | 141 |  |  |  | – |
Property and equipment, gross |  |  | 9,819 |  |  |  | 9,280 |
Less accumulated depreciation |  |  | (8,242 | ) |  |  | (7,693 | )
Property and equipment, net |  | $ | 1,577 |  |  | $ | 1,587 |
Purchased Intangible Assets The following table presents details of purchased intangible assets:
Schedule of purchased intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | June 30, 2021 |  |  | June 30, 2020 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Book Value |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Book Value |
|  | (In thousands) |
Developed technology |  | $ | 3,841 |  |  | $ | (1,249 | ) |  | $ | 2,592 |  |  | $ | 3,841 |  |  | $ | (497 | ) |  | $ | 3,344 |
Customer relationship |  |  | 9,030 |  |  |  | (2,267 | ) |  |  | 6,763 |  |  |  | 9,030 |  |  |  | (726 | ) |  |  | 8,304 |
Order backlog |  |  | 840 |  |  |  | (840 | ) |  |  | – |  |  |  | 840 |  |  |  | (384 | ) |  |  | 456 |
Non-compete agreements |  |  | 400 |  |  |  | (400 | ) |  |  | – |  |  |  | 400 |  |  |  | (184 | ) |  |  | 216 |
Trademark and trade name |  |  | 375 |  |  |  | (375 | ) |  |  | – |  |  |  | 375 |  |  |  | (246 | ) |  |  | 129 |
|  | $ | 14,486 |  |  | $ | (5,131 | ) |  | $ | 9,355 |  |  | $ | 14,486 |  |  | $ | (2,037 | ) |  | $ | 12,449 |
We do not currently have any purchased intangible assets with indefinite useful lives. As of June 30, 2021, future estimated amortization expense is as follows:
Intangible Assets Amortization Expense |  |  |  |
Years Ending June 30, |  |  |
(In thousands) |  |  |
2022 |  |  | 2,240 |
2023 |  |  | 2,240 |
2024 |  |  | 2,240 |
2025 |  |  | 1,785 |
2026 |  |  | 850 |
Total amortization expense |  | $ | 9,355 |
Goodwill Our goodwill balance at June 30, 2021 and 2020 was $15,810,000. Warranty Reserve The following table presents details of our warranty reserve:
Schedule of Warranty Reserve |  |  |  |  |  |  |  |
|  | Years Ended June 30, |
|  | 2021 |  |  | 2020 |
|  | (In thousands) |
Beginning balance |  | $ | 181 |  |  | $ | 116 |
Warranty reserve assumed from acquisition of Intrinsyc |  |  | – |  |  |  | 118 |
Charged to cost of revenues |  |  | 226 |  |  |  | 181 |
Usage |  |  | (210 | ) |  |  | (234 | )
Ending balance |  | $ | 197 |  |  | $ | 181 |
Other Liabilities The following table presents details of our other liabilities:
Schedule of Other Liabilities |  |  |  |  |  |  |  |
|  | June 30, |
|  | 2021 |  |  | 2020 |
|  | (In thousands) |
Accrued variable consideration |  | $ | 1,347 |  |  | $ | 1,462 |
Customer deposits and refunds |  |  | 1,133 |  |  |  | 628 |
Accrued raw materials purchases |  |  | 176 |  |  |  | 272 |
Deferred revenue |  |  | 850 |  |  |  | 658 |
Lease liability |  |  | 1,174 |  |  |  | 1,273 |
Taxes payable |  |  | 388 |  |  |  | 395 |
Warranty reserve |  |  | 197 |  |  |  | 181 |
Accrued operating expenses |  |  | 2,063 |  |  |  | 1,439 |
Total other current liabilities |  | $ | 7,328 |  |  | $ | 6,308 |
Non-current |  |  |  |  |  |  |  |
Lease liability |  | $ | 1,155 |  |  | $ | 1,796 |
Deferred revenue |  |  | 241 |  |  |  | 166 |
Total other non-current liabilities |  | $ | 1,396 |  |  | $ | 1,962 |
Computation of Net Loss per Share The following table presents the computation of net loss per share:
Schedule of Computation of Net Income (Loss) per Share |  |  |  |  |  |  |  |
|  | Years Ended June 30, |
|  | 2021 |  |  | 2020 |
|  | (In thousands, except per share data) |
Numerator: |  |  |  |  |  |  |  |
Net loss |  | $ | (4,044 | ) |  | $ | (10,738 | )
Denominator: |  |  |  |  |  |  |  |
Weighted-average shares outstanding - basic and diluted |  |  | 28,708 |  |  |  | 25,281 |
Net loss per share - basic and diluted |  | $ | (0.14 | ) |  | $ | (0.42 | )
The following table presents the common stock equivalents excluded from the diluted net loss per share calculation because they were anti-dilutive for the periods presented. These excluded common stock equivalents could be dilutive in the future.
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |  |  |  |  |  |
|  | Years Ended June 30, |
|  | 2021 |  |  | 2020 |
|  | (In thousands) |
Common stock equivalents |  |  | 823 |  |  |  | 1,675 |
Severance and Related Charges The following table presents details of the liability we recorded related to restructuring, severance and related activities during the current fiscal year:
Schedule of severance and related charges |  |  |  |
|  | Year Ended |
|  | June 30, |
|  | 2021 |
|  | (In thousands) |
Beginning balance |  | $ | 615 |
Charges |  |  | 506 |
Payments |  |  | (1,033 | )
Ending balance |  | $ | 88 |
The ending balance is recorded in accrued payroll and related expenses on the accompanying consolidated balance sheet at June 30, 2021. Supplemental Cash Flow Information The following table presents non-cash investing and financing transactions excluded from the consolidated statements of cash flows:
Schedule of Supplemental Cash Flow Information |  |  |  |  |  |  |  |
|  | Years Ended June 30, |
|  | 2021 |  |  | 2020 |
|  | (In thousands) |
Share consideration for acquisition of Intrinsyc |  | $ | – |  |  | $ | 15,574 |
Accrued property and equipment paid for in the subsequent period |  | $ | 217 |  |  | $ | 149 |

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