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Supplemental Financial Information
 12 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplemental Financial Information

 

4.   Supplemental Financial Information

 

Accounts Receivable

 

The following table presents details of our accounts receivable:

          
   June 30, 
   2024   2023 
   (In thousands) 
Accounts receivable  $31,526   $28,204 
Allowance for credit losses   (247)   (522)
Accounts receivable, net  $31,279   $27,682 

 

Inventories

 

The following table presents details of our inventories:

          
   June 30, 
   2024   2023 
   (In thousands) 
Finished goods  $14,167   $25,670 
Raw materials   13,531    24,066 
Inventories, net  $27,698   $49,736 

 

Property and Equipment

 

The following table presents details of our property and equipment: 

          
   June 30, 
   2024   2023 
   (In thousands) 
Computer, software and office equipment  $4,531   $7,167 
Furniture and fixtures   2,748    3,119 
Production, development and warehouse equipment   4,033    5,443 
Construction-in-progress   16    52 
Property and equipment, gross   11,328    15,781 
Less accumulated depreciation   (7,312)   (11,152)
Property and equipment, net  $4,016   $4,629 

 

Goodwill

 

The following table presents details of our goodwill balance:

     
   Year Ended 
   June 30, 2024 
   (In thousands) 
Balance at June 30, 2023  $27,824 
Current year activity   – 
Balance at June 30, 2024  $27,824 

 

Intangible Assets

 

The following table presents details of our intangible assets: 

                              
   June 30, 2024   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   $(5,293)  $1,038   $6,331   $(3,881)  $2,450 
Customer relationships   17,528    (13,315)   4,213    17,528    (9,487)   8,041 
Trademark and trade name   1,425    (1,425)   –    1,425    (1,351)   74 
   $25,284   $(20,033)  $5,251   $25,284   $(14,719)  $10,565 

 

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

 

As of June 30, 2024, future estimated amortization expense is as follows:

     
Years Ending June 30,    
(In thousands)    
2025   3,684 
2026   1,177 
2027   326 
2028   64 
Total amortization expense  $5,251 

 

Warranty Reserve

 

The following table presents details of our warranty reserve:

          
   Years Ended June 30, 
   2024   2023 
   (In thousands) 
Beginning balance  $788   $594 
Charged to cost of revenues   376    352 
Usage   (324)   (158)
Ending balance  $840   $788 

 

Other Liabilities

 

The following table presents details of our other liabilities:

          
   June 30, 
   2024   2023 
   (In thousands) 
Current          
Accrued variable consideration  $1,796   $2,167 
Customer deposits and refunds   436    16,344 
Accrued raw materials purchases   126    267 
Deferred revenue   3,017    2,493 
Lease liability   1,767    1,859 
Taxes payable   772    647 
Warranty reserve   840    788 
Accrued operating expenses   2,217    4,248 
Total other current liabilities  $10,971   $28,813 
           
Non-current          
Lease liability  $8,563   $10,425 
Deferred tax liability   179    146 
Deferred revenue   2,736    888 
Total other non-current liabilities  $11,478   $11,459 

 

Computation of Net Loss per Share

 

The following table presents the computation of net loss per share:

          
   Years Ended June 30,
   2024   2023 
   (In thousands, except per share data) 
Numerator:          
Net loss  $(4,516)  $(8,980)
           
Denominator:          
Weighted-average shares outstanding - basic and diluted   37,386    36,257 
           
Net loss per share - basic and diluted  $(0.12)  $(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.

        
   Years Ended June 30, 
   2024   2023 
   (In thousands) 
Common stock equivalents   847    637 

 

Severance and Related Charges

 

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

     
   Year Ended 
   June 30, 
   2024 
   (In thousands) 
Beginning balance  $97 
Charges   1,423 
Payments   (1,267)
Ending balance  $253 

 

The ending balance is recorded in accrued payroll and related expenses on the accompanying consolidated balance sheet at June 30, 2024.

 

Supplemental Cash Flow Information

 

The following table presents non-cash investing and financing transactions excluded from the consolidated statements of cash flows:

          
   Years Ended June 30, 
   2024   2023 
   (In thousands) 
Acquisition of property through operating leases  $–   $4,320 
Acquisition of property through financing leases  $–   $536 
Accrued property and equipment paid for in the subsequent period  $74   $54