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v3.23.1

Supplemental Financial Information | 9 Months Ended
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Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Supplemental Financial Information |
| 4. | Supplemental Financial Information
Inventories
Schedule of inventories |  |  |  |  |  |  |  |
|  | March 31, |  |  | June 30, |
|  | 2023 |  |  | 2022 |
|  | (In thousands) |
Finished goods |  | $ | 23,676 |  |  | $ | 16,094 |
Raw materials |  |  | 28,049 |  |  |  | 21,585 |
Inventories |  | $ | 51,725 |  |  | $ | 37,679 |
Other Liabilities The following table presents details of our other liabilities:
Schedule of Other Liabilities |  |  |  |  |  |  |  |
|  | March 31, |  |  | June 30, |
|  | 2023 |  |  | 2022 |
|  | (In thousands) |
Current |  |  |  |  |  |
Accrued variable consideration |  | $ | 2,195 |  |  | $ | 1,905 |
Customer deposits and refunds |  |  | 11,728 |  |  |  | 922 |
Accrued raw materials purchases |  |  | 180 |  |  |  | 132 |
Deferred revenue |  |  | 3,081 |  |  |  | 969 |
Lease liability |  |  | 1,583 |  |  |  | 978 |
Taxes payable |  |  | 533 |  |  |  | 371 |
Warranty reserve |  |  | 748 |  |  |  | 594 |
Other accrued operating expenses |  |  | 5,158 |  |  |  | 2,606 |
Total other current liabilities |  | $ | 25,206 |  |  | $ | 8,477 |
Non-current |  |  |  |  |  |  |  |
Lease liability |  | $ | 9,510 |  |  | $ | 7,310 |
Deferred revenue |  |  | 1,025 |  |  |  | 373 |
Total other non-current liabilities |  | $ | 10,535 |  |  | $ | 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:
Schedule of Computation of Net Income (Loss) per Share |  |  |  |  |  |  |  |  |  |  |  |
|  | Three Months Ended |  |  | Nine Months Ended |
|  | March 31, |  |  | March 31, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
|  | (In thousands, except per share data) |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (3,065 | ) |  | $ | (3,190 | ) |  | $ | (7,327 | ) |  | $ | (7,868 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding - basic and diluted |  |  | 36,548 |  |  |  | 34,695 |  |  |  | 36,105 |  |  |  | 31,925 |
Net loss per share - basic and diluted |  | $ | (0.08 | ) |  | $ | (0.09 | ) |  | $ | (0.20 | ) |  | $ | (0.25 | )
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 |  |  | Nine Months Ended |
|  | March 31, |  |  | March 31, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
|  | (In thousands) |
Common stock equivalents |  |  | 735 |  |  |  | 1,175 |  |  |  | 677 |  |  |  | 1,154 |
Purchased Intangible Assets The following table presents details of purchased intangible assets:
Schedule of purchased intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | March 31, 2023 |  |  | 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 |  |  | $ | (3,528 | ) |  | $ | 2,803 |  |  | $ | 5,731 |  |  | $ | (2,493 | ) |  | $ | 3,238 |
Customer relationships |  |  | 17,528 |  |  |  | (8,530 | ) |  |  | 8,998 |  |  |  | 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 |  |  |  | (1,197 | ) |  |  | 228 |  |  |  | 1,245 |  |  |  | (772 | ) |  |  | 473 |
|  | $ | 27,090 |  |  | $ | (15,061 | ) |  | $ | 12,029 |  |  | $ | 25,280 |  |  | $ | (10,721 | ) |  | $ | 14,559 |
We do not currently have any purchased intangible assets with indefinite useful lives. As of March 31, 2023, future estimated amortization expense is as follows:
Schedule of future estimated amortization expense |  |  |  |
Years Ending June 30, |  |  |
(In thousands) |  |  |  |
2023 (remainder) |  | $ | 1,464 |
2024 |  |  | 5,315 |
2025 |  |  | 3,685 |
2026 |  |  | 1,177 |
2027 |  |  | 326 |
Thereafter |  |  | 62 |
Total future amortization |  | $ | 12,029 |
Restructuring, Severance and Related Charges The following table presents details of the liability we recorded related to restructuring, severance and related activities:
Schedule of severance and related charges |  |  |  |
|  | Nine Months Ended |
|  | March 31, |
|  | 2023 |
|  | (In thousands) |
Beginning balance |  | $ | 34 |
Charges |  |  | 664 |
Payments |  |  | (379 | )
Ending balance |  | $ | 319 |
These balances are recorded in accrued payroll and related expenses in the accompanying unaudited condensed consolidated balance sheets. Supplemental Cash Flow Information The following table presents non-cash investing transactions excluded from the accompanying unaudited condensed consolidated statements of cash flows:
Schedule of non-cash investing transactions |  |  |  |  |  |  |  |
|  | Nine Months Ended March 31, |
|  | 2023 |  |  | 2022 |
|  | (In thousands) |
Accrued property and equipment paid for in the subsequent period |  | $ | 49 |  |  | $ | 235 |
Fair value of warrant to purchase common stock issued with bank credit facility |  | $ | – |  |  | $ | 500 |
Fair value of earnout consideration from acquisitions at the closing dates |  | $ | 1,718 |  |  | $ | 393 |

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