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Stockholders’ Equity
 9 Months Ended
Mar. 31, 2024
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   (550)   3.84 
Exercised   (152)   1.76 
Balance of options outstanding at March 31, 2024   623   $3.95 

 

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   1,317    4.68 
Forfeited   (99)   5.20 
Vested   (519)   5.59 
Balance of RSUs outstanding at March 31, 2024   1,888   $5.05 

 

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   1,191 
Forfeited   (346)
Vested   (173)
Balance of PSUs outstanding at March 31, 2024   1,603 

 

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 March 31, 2024   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   Nine Months Ended 
   March 31,   March 31, 
   2024   2023   2024   2023 
   (In thousands) 
Cost of revenue  $66   $47   $171   $159 
Selling, general and administrative   1,337    1,293    4,238    4,132 
Research and development   469    388    1,381    1,090 
Total share-based compensation expense  $1,872   $1,728   $5,790   $5,381 

 

The following table presents the remaining unrecognized share-based compensation expense related to our outstanding share-based awards as of March 31, 2024:

          
   Remaining   Remaining 
   Unrecognized   Weighted- 
   Compensation   Average Years 
   Expense   To Recognize 
   (In thousands)     
Stock options  $251    2.3 
RSUs   8,250    2.1 
PSUs   4,592    2.3 
Stock purchase rights under ESPP   42    0.1 
   $13,135      

 

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.