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Supplemental Financial Information

9 Months Ended

Mar. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

4.	Supplemental Financial Information

Inventories

Schedule of inventories
	March 31,		June 30,
	2024		2023
	(In thousands)
Finished goods	$	22,457	$	25,670
Raw materials		18,095		24,066
Inventories	$	40,552	$	49,736

Other Liabilities

The following table presents details of our other liabilities:

Schedule of other liabilities
	March 31,		June 30,
	2024		2023
	(In thousands)
Current
Accrued variable consideration	$	1,790	$	2,167
Customer deposits and refunds		11,151		16,344
Accrued raw materials purchases		206		267
Deferred revenue		2,731		2,493
Lease liability		1,857		1,859
Taxes payable		774		647
Warranty reserve		708		788
Other accrued operating expenses		2,971		4,248
Total other current liabilities	$	22,188	$	28,813

Non-current
Lease liability	$	8,990	$	10,425
Deferred tax liability		353		146
Deferred revenue		2,420		888
Total other non-current liabilities	$	11,763	$	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						Nine Months Ended
	March 31,						March 31,
	2024			2023			2024			2023
	(In thousands, except per share data)
Numerator:
Net loss	$	(423	)	$	(3,065	)	$	(4,902	)	$	(7,327	)
Denominator:
Weighted-average common shares outstanding - basic and diluted		37,509			36,548			37,283			36,105

Net loss per share - basic and diluted	$	(0.01	)	$	(0.08	)	$	(0.13	)	$	(0.20	)

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 anti dilutive securities
	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2024		2023		2024		2023
	(In thousands)
Common stock equivalents		644		735		579		677

Intangible Assets

The following table presents details of intangible assets:

Schedule of intangible assets
	March 31, 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	$	(4,940	)	$	1,391	$	6,331	$	(3,881	)	$	2,450
Customer relationships		17,528		(12,358	)		5,170		17,528		(9,487	)		8,041
Trademark and trade name		1,425		(1,425	)		–		1,425		(1,351	)		74
	$	25,284	$	(18,723	)	$	6,561	$	25,284	$	(14,719	)	$	10,565

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

As of March 31, 2024, future estimated amortization expense is as follows:


Years Ending June 30,
(In thousands)
2024 (remainder)	$	1,309
2025		3,685
2026		1,177
2027		326
2028		64
Total future amortization	$	6,561

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,
	2024
	(In thousands)
Beginning balance	$	97
Charges		900
Payments		(647	)
Ending balance	$	350

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,
	2024		2023
	(In thousands)
Accrued property and equipment paid for in the subsequent period	$	54	$	49
Fair value of earnout consideration from acquisitions at the closing dates	$	–	$	1,718