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Supplemental Financial Information

3 Months Ended

Sep. 30, 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
	September 30,		June 30,
	2022		2022
	(In thousands)
Finished goods	$	16,690	$	16,094
Raw materials		28,570		21,585
Inventories	$	45,260	$	37,679

Other Liabilities

The following table presents details of our other liabilities:

Schedule of Other Liabilities
	September 30,		June 30,
	2022		2022
	(In thousands)
Current
Accrued variable consideration	$	2,403	$	1,905
Customer deposits and refunds		1,822		922
Accrued raw materials purchases		45		132
Deferred revenue		4,063		969
Lease liability		1,688		978
Taxes payable		394		371
Warranty reserve		572		594
Other accrued operating expenses		5,726		2,606
Total other current liabilities	$	16,713	$	8,477

Non-current
Lease liability	$	10,216	$	7,310
Deferred revenue		1,464		373
Total other non-current liabilities	$	11,680	$	7,683

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,
	2022			2021
	(In thousands, except per share data)
Numerator:
Net loss	$	(1,653	)	$	(2,283	)
Denominator:
Weighted-average common shares outstanding - basic and diluted		35,406			29,228

Net loss per share - basic and diluted	$	(0.05	)	$	(0.08	)

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
	September 30,
	2022		2021
	(In thousands)
Common stock equivalents		948		901

Purchased Intangible Assets

The following table presents details of purchased intangible assets:

Schedule of purchased intangible assets
	September 30, 2022							June 30, 2022
	Gross Carrying Amount		Accumulated Amortization			Net Book Value		Gross Carrying Amount		Accumulated Amortization			Net Book Value
	(In thousands)
Developed technology	$	6,331	$	(2,822	)	$	3,509	$	5,731	$	(2,493	)	$	3,238
Customer relationships		18,188		(6,622	)		11,566		16,498		(5,700	)		10,798
Order backlog		1,406		(1,406	)		–		1,406		(1,356	)		50
Non-compete agreements		400		(400	)		–		400		(400	)		–
Trademark and trade name		1,425		(890	)		535		1,245		(772	)		473
	$	27,750	$	(12,140	)	$	15,610	$	25,280	$	(10,721	)	$	14,559

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

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

Years Ending June 30,

(In thousands)

2023 (remainder) $ 4,490

2024 5,447

2025 3,816

2026 1,309

2027 458

Thereafter 90

Total future amortization $ 15,610

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,
	2022
	(In thousands)
Beginning balance	$	34
Charges		92
Payments		(100	)
Ending balance	$	26

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

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,
	2022		2021
	(In thousands)
Accrued property and equipment paid for in the subsequent period	$	589	$	185

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