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3. Supplemental Financial Information

6 Months Ended

Dec. 31, 2020

3.	Supplemental Financial Information

Inventories

Inventories are stated at the lower of cost (first-in, first-out) or net realizable value and consist of the following:

	December 31,		June 30,
	2020		2020
	(In thousands)
Finished goods	$	8,251	$	7,522
Raw materials		6,053		6,259
Inventories	$	14,304	$	13,781

Other Liabilities

The following table presents details of our other liabilities:

	December 31,		June 30,
	2020		2020
	(In thousands)
Current
Accrued variable consideration	$	1,451	$	1,462
Customer deposits and refunds		796		628
Accrued raw materials purchases		110		272
Deferred revenue		741		658
Lease liability		1,292		1,273
Taxes payable		389		395
Warranty reserve		167		181
Accrued operating expenses		1,862		1,439
Total other current liabilities	$	6,808	$	6,308

Non-current
Lease liability	$	1,130	$	1,796
Deferred revenue		163		166
Total other non-current liabilities	$	1,293	$	1,962

Computation of Net Loss per Share

Basic and diluted net loss per share is calculated by dividing net loss by the weighted-average number of common shares outstanding during the applicable period.

The following table presents the computation of net loss per share:

	Three Months Ended						Six Months Ended
	December 31,						December 31,
	2020			2019			2020			2019
	(In thousands, except per share data)
Numerator:
Net loss	$	(1,459	)	$	(1,351	)	$	(1,761	)	$	(3,821	)
Denominator:
Weighted-average common shares outstanding - basic and diluted		28,661			23,145			28,516			23,029

Net loss per share - basic and diluted	$	(0.05	)	$	(0.06	)	$	(0.06	)	$	(0.17	)

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.

Three Months Ended

Six Months Ended

December 31,

2020

2019

2020

2019

(In thousands)

Common stock equivalents

693

1,659

917

1,726

Purchased Intangible Assets

The following table presents details of purchased intangible assets:

	December 31, 2020							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	$	(873	)	$	2,968	$	3,841	$	(497	)	$	3,344
Customer relationship		9,030		(1,498	)		7,532		9,030		(726	)		8,304
Order backlog		840		(686	)		154		840		(384	)		456
Non-compete agreements		400		(376	)		24		400		(184	)		216
Trademark and trade name		375		(365	)		10		375		(246	)		129
	$	14,486	$	(3,798	)	$	10,688	$	14,486	$	(2,037	)	$	12,449

We do not currently have any purchased intangible assets with indefinite useful lives.

As of December 31, 2020, future estimated amortization expense is as follows:

Years Ending June 30,
(In thousands)
2021 (remainder)	$	1,333
2022		2,240
2023		2,240
2024		2,240
2025		1,784
Thereafter		851
	$	10,688

Restructuring, Severance and Related Charges

The following table presents details of the liability we recorded related to restructuring, severance and related activities:

	Six Months Ended
	December 31,
	2020
	(In thousands)
Beginning balance	$	615
Charges		229
Payments		(740	)
Ending balance	$	104

The ending balance is recorded in accrued payroll and related expenses in the accompanying unaudited condensed consolidated balance sheet at December 31, 2020.

Prior Fiscal Year

During the six months ended December 31, 2019, we continued a plan to realign certain personnel resources, particularly related to identifying cost savings and synergies to be gained from the acquisition of Maestro. These activities resulted in a total charge of approximately $1,103,000.

Supplemental Cash Flow Information

The following table presents non-cash investing transactions excluded from the accompanying unaudited condensed consolidated statements of cash flows:

	Six Months Ended
	December 31,
	2020		2019
	(In thousands)
Accrued property and equipment paid for in the subsequent period	$	155	$	133