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Stockholders’ Equity
 3 Months Ended
Sep. 30, 2024
Equity [Abstract]  
Stockholders’ Equity

 

6. Stockholders’ Equity

  

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, 2024   1,881   $4.89 
Granted   464    3.63 
Forfeited   (136)   4.42 
Vested   (270)   4.91 
Balance of RSUs outstanding at September 30, 2024   1,939   $4.62 

 

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, 2024   1,669 
Granted   539 
Forfeited   (377)
Vested   (669)
Balance of PSUs outstanding at September 30, 2024   1,162 

 

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, 2024   567   $4.13 
Expired   (11)   2.16 
Exercised   (230)   3.36 
Balance of options outstanding at September 30, 2024   326   $4.75 

 

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, 2024   181 
Shares issued   – 
Shares available for issuance at September 30, 2024   181 

 

Share-Based Compensation Expense

 

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

        
   Three Months Ended
September 30,		 
   2024   2023 
   (In thousands) 
Cost of revenue  $64   $41 
Selling, general and administrative   1,126    1,273 
Research and development   410    428 
Total share-based compensation expense  $1,600   $1,742 

 

The following table presents the remaining unrecognized share-based compensation expense related to our outstanding share-based awards as of September 30, 2024:

          
   Remaining   Remaining 
   Unrecognized   Weighted- 
   Compensation   Average Years 
   Expense   To Recognize 
   (In thousands)     
Stock options  $188    1.9 
RSUs   7,560    2.2 
PSUs   4,151    2.4 
Stock purchase rights under ESPP   35    0.1 
   $11,934      

 

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.