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Supplemental Financial Information

6 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

4.	Supplemental Financial Information

Inventories

Schedule of inventories
	December 31,		June 30,
	2023		2023
	(In thousands)
Finished goods	$	20,447	$	25,670
Raw materials		22,327		24,066
Inventories	$	42,774	$	49,736

Other Liabilities

The following table presents details of our other liabilities:

Schedule of other liabilities
	December 31,		June 30,
	2023		2023
	(In thousands)
Current
Accrued variable consideration	$	2,546	$	2,167
Customer deposits and refunds		20,166		16,344
Accrued raw materials purchases		165		267
Deferred revenue		2,778		2,493
Lease liability		1,914		1,859
Taxes payable		646		647
Warranty reserve		668		788
Other accrued operating expenses		3,206		4,248
Total other current liabilities	$	32,089	$	28,813

Non-current
Lease liability	$	9,447	$	10,425
Deferred tax liability		284		146
Deferred revenue		2,407		888
Total other non-current liabilities	$	12,138	$	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 December 31,						Six Months Ended December 31,
	2023			2022			2023			2022
	(In thousands, except per share data)
Numerator:
Net loss	$	(2,593	)	$	(2,609	)	$	(4,479	)	$	(4,262	)
Denominator:
Weighted-average common shares outstanding - basic and diluted		37,354			36,352			37,170			35,883

Net loss per share - basic and diluted	$	(0.07	)	$	(0.07	)	$	(0.12	)	$	(0.12	)

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 December 31,				Six Months Ended December 31,
	2023		2022		2023		2022
	(In thousands)
Common stock equivalents		608		524		560		713

Intangible Assets

The following table presents details of intangible assets:

Schedule of intangible assets
	December 31, 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	$	(4,587	)	$	1,744	$	6,331	$	(3,881	)	$	2,450
Customer relationships		17,528		(11,401	)		6,127		17,528		(9,487	)		8,041
Trademark and trade name		1,425		(1,425	)		–		1,425		(1,351	)		74
	$	25,284	$	(17,413	)	$	7,871	$	25,284	$	(14,719	)	$	10,565

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

As of December 31, 2023, future estimated amortization expense is as follows:


Years Ending June 30,
(In thousands)
2024 (remainder)	$	2,620
2025		3,685
2026		1,177
2027		326
2028		63
Total	$	7,871

Restructuring, Severance and Related Charges

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 approximated just over $500,000.

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


	Six Months Ended
	December 31,
	2023
	(In thousands)
Beginning balance	$	97
Charges		550
Payments		(553	)
Ending balance	$	94

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:


	Six Months Ended December 31,
	2023		2022
	(In thousands)
Accrued property and equipment paid for in the subsequent period	$	24	$	216
Fair value of earnout consideration from acquisitions at the closing dates	$	–	$	1,718