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Stockholders’ Equity
 6 Months Ended
Dec. 31, 2023
Equity [Abstract]  
Stockholders’ Equity

 

7. Stockholders’ Equity

  

Stock Options

 

The following table presents a summary of activity with respect to our stock options:

 

        
       Weighted- 
       Average 
   Number of   Exercise Price 
   Shares   per Share 
   (In thousands)     
Balance of options outstanding at June 30, 2023   1,325   $3.65 
Expired   (515)   3.87 
Exercised   (142)   1.72 
Balance of options outstanding at December 31, 2023   668   $3.90 

 

Restricted Stock Units (“RSUs”)

 

The following table presents a summary of activity with respect to our RSUs:

 

        
       Weighted- 
       Average 
       Grant Date 
   Number of   Fair Value 
   Shares   per Share 
   (In thousands)     
Balance of RSUs outstanding at June 30, 2023   1,189   $5.70 
Granted   1,215    4.70 
Forfeited   (67)   5.21 
Vested   (386)   5.62 
Balance of RSUs outstanding at December 31, 2023   1,951   $5.11 

 

Performance Stock Units (“PSUs”)

 

The following table presents a summary of activity with respect to our PSUs:

 

    
  

Number of

Shares

 
   (In thousands) 
Balance of PSUs outstanding at June 30, 2023   931 
Granted   1,148 
Forfeited   (346)
Vested   (173)
Balance of PSUs outstanding at December 31, 2023   1,560 

 

Employee Stock Purchase Plan (“ESPP”)

 

The following table presents a summary of activity under our ESPP:

 

    
   Number of 
   Shares 
   (In thousands) 
Shares available for issuance at June 30, 2023   381 
Shares issued   (92)
Shares available for issuance at December 31, 2023   289 

 

Share-Based Compensation Expense

 

The following table presents a summary of share-based compensation expense included in each functional line item on our accompanying unaudited condensed consolidated statements of operations:

 

                    
   Three Months Ended
December 31,		   Six Months Ended
December 31,		 
   2023   2022   2023   2022 
   (In thousands) 
Cost of revenue  $64   $61   $105   $112 
Selling, general and administrative   1,628    1,434    2,901    2,839 
Research and development   484    370    912    702 
Total share-based compensation expense  $2,176   $1,865   $3,918   $3,653 

 

The following table presents the remaining unrecognized share-based compensation expense related to our outstanding share-based awards as of December 31, 2023:

 

        
   Remaining   Remaining 
   Unrecognized   Weighted- 
   Compensation   Average Years 
   Expense   To Recognize 
   (In thousands)     
Stock options  $288    2.5 
RSUs   9,173    2.3 
PSUs   6,488    1.7 
Stock purchase rights under ESPP   126    0.4 
   $16,075      

 

If there are any modifications or cancellations of the underlying unvested share-based awards, we may be required to accelerate, increase or cancel remaining unearned share-based compensation expense. Future share-based compensation expense and unearned share-based compensation will increase to the extent that we grant additional share-based awards.