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Supplemental Financial Information

3 Months Ended

Sep. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

4.	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:

Schedule of Inventory
	September 30,		June 30,
	2021		2021
	(In thousands)
Finished goods	$	16,952	$	7,738
Raw materials		9,605		7,321
Inventories	$	26,557	$	15,059

Other Liabilities

The following table presents details of our other liabilities:

Schedule of Other Liabilities
	September 30,		June 30,
	2021		2021
	(In thousands)
Current
Accrued variable consideration	$	2,027	$	1,347
Customer deposits and refunds		1,192		1,133
Accrued raw materials purchases		129		176
Deferred revenue		863		850
Lease liability		1,045		1,174
Taxes payable		401		388
Warranty reserve		670		197
Other accrued operating expenses		3,766		2,063
Total other current liabilities	$	10,093	$	7,328

Non-current
Lease liability	$	1,073	$	1,155
Deferred revenue		303		241
Total other non-current liabilities	$	1,376	$	1,396

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

September 30,

2021 2020

(In thousands, except per share data)

Numerator:

Net loss $ (2,283 ) $ (302 )

Denominator:

Weighted-average common shares outstanding - basic and diluted 29,228 28,371

Net loss per share - basic and diluted $ (0.08 ) $ (0.01 )

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
	September 30,
	2021		2020
	(In thousands)
Common stock equivalents		901		896

Purchased Intangible Assets

The following table presents details of purchased intangible assets:

Schedule of purchased intangible assets
	September 30, 2021							June 30, 2021
	Gross Carrying Amount		Accumulated Amortization			Net Book Value		Gross Carrying Amount		Accumulated Amortization			Net Book Value
	(In thousands)
Developed technology	$	5,808	$	(1,528	)	$	4,280	$	3,841	$	(1,249	)	$	2,592
Customer relationships		16,708		(2,993	)		13,715		9,030		(2,267	)		6,763
Order backlog		1,577		(959	)		618		840		(840	)		–
Non-compete agreements		400		(400	)		–		400		(400	)		–
Trademark and trade name		1,227		(444	)		783		375		(375	)		–
	$	25,720	$	(6,324	)	$	19,396	$	14,486	$	(5,131	)	$	9,355

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

As of September 30, 2021, future estimated amortization expense is as follows:

Intangible Assets Amortization Expense
Years Ending June 30,
(In thousands)
2022 (remainder)	$	4,619
2023		5,487
2024		5,034
2025		3,406
2026		850
Total amortization expense	$	19,396

Restructuring, Severance and Related Charges

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


	Three Months Ended
	September 30,
	2021
	(In thousands)
Beginning balance	$	88
Charges		542
Payments		(233	)
Ending balance	$	397

The ending balance is recorded in accrued payroll and related expenses in the accompanying unaudited condensed consolidated balance sheet at September 30, 2021.

Supplemental Cash Flow Information

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

Three Months Ended

September 30,

2021 2020

(In thousands)

Accrued property and equipment paid for in the subsequent period $ 185 $ 76

Fair value of warrant to purchase common stock issued with bank credit facility $ 250 $ –