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Supplemental Financial Information

3 Months Ended

Sep. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

4.	Supplemental Financial Information

Inventories

Schedule of inventories
	September 30,		June 30,
	2023		2023
	(In thousands)
Finished goods	$	22,339	$	25,670
Raw materials		23,457		24,066
Inventories	$	45,796	$	49,736

Other Liabilities

The following table presents details of our other liabilities:

Schedule of other liabilities
	September 30,		June 30,
	2023		2023
	(In thousands)
Current
Accrued variable consideration	$	2,139	$	2,167
Customer deposits and refunds		21,102		16,344
Accrued raw materials purchases		316		267
Deferred revenue		2,768		2,493
Lease liability		1,942		1,859
Taxes payable		393		647
Warranty reserve		807		788
Other accrued operating expenses		4,595		4,248
Total other current liabilities	$	34,062	$	28,813

Non-current
Lease liability	$	9,884	$	10,425
Deferred tax liability		215		146
Deferred revenue		1,086		888
Total other non-current liabilities	$	11,185	$	11,459

The customer deposits and refunds balances in the table above include a significant deposit from a customer as prepayment for expected future shipments under their contract.

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,
	2023			2022
	(In thousands, except per share data)
Numerator:
Net loss	$	(1,886	)	$	(1,653	)
Denominator:
Weighted-average common shares outstanding - basic and diluted		36,982			35,406

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

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,
	2023		2022
	(In thousands)
Common stock equivalents		667		948

Purchased Intangible Assets

The following table presents details of purchased intangible assets:

Schedule of purchased intangible assets
	September 30, 2023							June 30, 2023
	Gross Carrying Amount		Accumulated Amortization			Net Book Value		Gross Carrying Amount		Accumulated Amortization			Net Book Value
	(In thousands)
Developed technology	$	6,331	$	(4,234	)	$	2,097	$	6,331	$	(3,881	)	$	2,450
Customer relationships		17,528		(10,444	)		7,084		17,528		(9,487	)		8,041
Trademark and trade name		1,425		(1,425	)		–		1,425		(1,351	)		74
	$	25,284	$	(16,103	)	$	9,181	$	25,284	$	(14,719	)	$	10,565

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

As of September 30, 2023, future estimated amortization expense is as follows:


Years Ending June 30,
(In thousands)
2024 (remainder)	$	3,930
2025		3,685
2026		1,177
2027		326
2028		63
Total	$	9,181

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,
	2023
	(In thousands)
Beginning balance	$	97
Charges		20
Payments		(101	)
Ending balance	$	16

These balances are recorded in accrued payroll and related expenses in the accompanying unaudited condensed consolidated balance sheets.

In October 2023, we undertook a reduction in our labor force to better align our staffing with our business objectives. The severance and related charges in connection with this action are expected to approximate $500,000 and will be recognized in our unaudited condensed consolidated statement of operations during the three months ending December 31, 2023.

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,
	2023		2022
	(In thousands)
Accrued property and equipment paid for in the subsequent period	$	339	$	589