XML 19 R9.htm IDEA: XBRL DOCUMENT

Supplemental Financial Information

9 Months Ended

Mar. 31, 2022

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
	March 31,		June 30,
	2022		2021
	(In thousands)
Finished goods	$	17,448	$	7,738
Raw materials		15,718		7,321
Inventories	$	33,166	$	15,059

Other Liabilities

The following table presents details of our other liabilities:

Schedule of Other Liabilities
	March 31,		June 30,
	2022		2021
	(In thousands)
Current
Accrued variable consideration	$	2,092	$	1,347
Customer deposits and refunds		1,023		1,133
Accrued raw materials purchases		281		176
Deferred revenue		955		850
Lease liability		861		1,174
Taxes payable		442		388
Warranty reserve		635		197
Other accrued operating expenses		6,179		2,063
Total other current liabilities	$	12,468	$	7,328

Non-current
Lease liability	$	7,566	$	1,155
Deferred revenue		354		241
Total other non-current liabilities	$	7,920	$	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						Nine Months Ended
	March 31,						March 31,
	2022			2021			2022			2021
	(In thousands, except per share data)
Numerator:
Net loss	$	(3,190	)	$	(1,187	)	$	(7,868	)	$	(2,948	)
Denominator:
Weighted-average common shares outstanding - basic and diluted		34,695			28,819			31,925			28,617

Net loss per share - basic and diluted	$	(0.09	)	$	(0.04	)	$	(0.25	)	$	(0.10	)

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

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2022		2021		2022		2021
			(In thousands)
Common stock equivalents		1,175		745		1,154		937

Purchased Intangible Assets

The following table presents details of purchased intangible assets:

Schedule of purchased intangible assets
	March 31, 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	$	(2,170	)	$	3,561	$	3,841	$	(1,249	)	$	2,592
Customer relationships		16,498		(4,796	)		11,702		9,030		(2,267	)		6,763
Order backlog		1,406		(1,214	)		192		840		(840	)		–
Non-compete agreements		400		(400	)		–		400		(400	)		–
Trademark and trade name		1,245		(663	)		582		375		(375	)		–
	$	25,280	$	(9,243	)	$	16,037	$	14,486	$	(5,131	)	$	9,355

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

As of March 31, 2022, future estimated amortization expense is as follows:


Years Ending June 30,
(In thousands)
2022 (remainder)	$	1,478
2023		5,400
2024		4,952
2025		3,358
2026		849
Total future amortization	$	16,037

Restructuring, Severance and Related Charges

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


	Nine Months Ended
	March 31,
	2022
		(In thousands)
Beginning balance	$	88
Charges		760
Payments		(843	)
Ending balance	$	5

The ending balance is recorded in accrued payroll and related expenses in the accompanying unaudited condensed consolidated balance sheet at March 31, 2022.

Supplemental Cash Flow Information

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


	Nine Months Ended
	March 31,
	2022		2021
	(In thousands)
Accrued property and equipment paid for in the subsequent period	$	235	$	40
Fair value of warrant to purchase common stock issued with bank credit facility	$	500	$	–
Fair value of earnout consideration from TNI acquisition at the Closing Date	$	393	$	–