XML 27 R11.htm IDEA: XBRL DOCUMENT

Supplemental Financial Information

12 Months Ended

Jun. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplemental Financial Information

Inventories

The following table presents details of our inventories:

Schedule of Inventory
	June 30,
	2022		2021
	(In thousands)
Finished goods	$	16,094	$	7,738
Raw materials		21,585		7,321
Inventories, net	$	37,679	$	15,059

Property and Equipment

The following table presents details of property and equipment:

Schedule of property and equipment
	June 30,
	2022			2021
	(In thousands)
Computer, software and office equipment	$	5,370		$	4,338
Furniture and fixtures		760			633
Production, development and warehouse equipment		5,147			4,707
Construction-in-progress		1,612			141
Property and equipment, gross		12,889			9,819
Less accumulated depreciation		(9,237	)		(8,242	)
Property and equipment, net	$	3,652		$	1,577

Purchased Intangible Assets

The following table presents details of purchased intangible assets:

Schedule of purchased intangible assets
	June 30, 2022							June 30, 2021
	Gross Carrying Amount		Accumulated Amortization			Net Book Value		Gross Carrying Amount		Accumulated Amortization			Net Book Value
	(In thousands)
Developed technology	$	5,731	$	(2,493	)	$	3,238	$	3,841	$	(1,249	)	$	2,592
Customer relationship		16,498		(5,700	)		10,798		9,030		(2,267	)		6,763
Order backlog		1,406		(1,356	)		50		840		(840	)		–
Non-compete agreements		400		(400	)		–		400		(400	)		–
Trademark and trade name		1,245		(772	)		473		375		(375	)		–
	$	25,280	$	(10,721	)	$	14,559	$	14,486	$	(5,131	)	$	9,355

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

As of June 30, 2022, future estimated amortization expense is as follows:


Years Ending June 30,
(In thousands)
2023	$	5,400
2024		4,952
2025		3,358
2026		849
Total amortization expense	$	14,559

Goodwill

The following table presents details of our goodwill balance:

Schedule of goodwill
	Year Ended
	June 30, 2022
	(In thousands)
Balance at June 30, 2021	$	15,810
Acquisition of TN Companies		4,958
Balance at June 30, 2022	$	20,768

Warranty Reserve

The following table presents details of our warranty reserve:

Schedule of Warranty Reserve
	Years Ended June 30,
	2022			2021
	(In thousands)
Beginning balance	$	197		$	181
Warranty reserve assumed from acquisition of the TN Companies		483			–
Charged to cost of revenues		202			226
Usage		(288	)		(210	)
Ending balance	$	594		$	197

Other Liabilities

The following table presents details of our other liabilities:

Schedule of Other Liabilities
	June 30,
	2022		2021
	(In thousands)
Current
Accrued variable consideration	$	1,905	$	1,347
Customer deposits and refunds		922		1,133
Accrued raw materials purchases		132		176
Deferred revenue		969		850
Lease liability		978		1,174
Taxes payable		371		388
Warranty reserve		594		197
Accrued operating expenses		2,606		2,063
Total other current liabilities	$	8,477	$	7,328

Non-current
Lease liability	$	7,310	$	1,155
Deferred revenue		373		241
Total other non-current liabilities	$	7,683	$	1,396

Computation of Net Loss per Share

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


	Years Ended June 30,
	2022			2021
	(In thousands, except per share data)
Numerator:
Net loss	$	(5,362	)	$	(4,044	)

Denominator:
Weighted-average shares outstanding - basic and diluted		32,671			28,708

Net loss per share - basic and diluted	$	(0.16	)	$	(0.14	)

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
	Years Ended June 30,
	2022		2021
	(In thousands)
Common stock equivalents		1,069		823

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:


	Year Ended
	June 30,
	2022
	(In thousands)
Beginning balance	$	88
Charges		795
Payments		(849	)
Ending balance	$	34

The ending balance is recorded in accrued payroll and related expenses on the accompanying consolidated balance sheet at June 30, 2022.

Supplemental Cash Flow Information

The following table presents non-cash investing and financing transactions excluded from the consolidated statements of cash flows:

Schedule of non-cash transactions
	Years Ended June 30,
	2022		2021
	(In thousands)
Acquisition of property through operating leases	$	7,170	$	613
Accrued property and equipment paid for in the subsequent period	$	868	$	217
Warrants to purchase common stock issued with bank credit facility	$	500	$	–
Fair value adjustment of earnout consideration for TN companies at acquisition date	$	393	$	–