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Supplemental Financial Information

9 Months Ended

Mar. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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:


	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:


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:


	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:


	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