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Supplemental Financial Information | 12 Months Ended
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Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Supplemental Financial Information |
4. |  | Supplemental Financial Information
Accounts Receivable The following table presents details of our accounts receivable:
Schedule of accounts receivable |  |  |  |  |  |  |  |
|  | June 30, |
|  | 2025 |  |  | 2024 |
|  | (In thousands) |
Accounts receivable |  | $ | 25,231 |  |  | $ | 31,526 |
Allowance for credit losses |  |  | (139 | ) |  |  | (247 | )
Accounts receivable, net |  | $ | 25,092 |  |  | $ | 31,279 |
Inventories The following table presents details of our inventories:
Schedule of inventories |  |  |  |  |  |  |  |
|  | June 30, |
|  | 2025 |  |  | 2024 |
|  | (In thousands) |
Finished goods |  | $ | 15,603 |  |  | $ | 14,167 |
Raw materials |  |  | 10,768 |  |  |  | 13,531 |
Inventories, net |  | $ | 26,371 |  |  | $ | 27,698 |
Property and Equipment The following table presents details of our property and equipment:
Schedule of property and equipment |  |  |  |  |  |  |  |
|  | June 30, |
|  | 2025 |  |  | 2024 |
|  | (In thousands) |
Computer, software and office equipment |  | $ | 4,886 |  |  | $ | 4,531 |
Furniture and fixtures |  |  | 2,698 |  |  |  | 2,748 |
Production, development and warehouse equipment |  |  | 3,946 |  |  |  | 4,033 |
Construction-in-progress |  |  | – |  |  |  | 16 |
Property and equipment, gross |  |  | 11,530 |  |  |  | 11,328 |
Less accumulated depreciation |  |  | (9,074 | ) |  |  | (7,312 | )
Property and equipment, net |  | $ | 2,456 |  |  | $ | 4,016 |
Goodwill The following table presents details of our goodwill balance:
Schedule of goodwill |  |  |  |
|  | Year Ended |
|  | June 30, 2025 |
|  | (In thousands) |
Balance at June 30, 2024 |  | $ | 27,824 |
Acquisition of NetComm |  |  | 3,265 |
Balance at June 30, 2025 |  | $ | 31,089 |
Intangible Assets The following table presents details of our intangible assets:
Schedule of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | June 30, 2025 |  |  | June 30, 2024 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Book Value |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Book Value |
|  | (In thousands) |
Developed technology |  | $ | 6,793 |  |  | $ | (6,066 | ) |  |  | 727 |  |  | $ | 6,331 |  |  | $ | (5,293 | ) |  | $ | 1,038 |
Customer relationships |  |  | 19,116 |  |  |  | (16,321 | ) |  |  | 2,795 |  |  |  | 17,528 |  |  |  | (13,315 | ) |  |  | 4,213 |
Order backlog |  |  | 297 |  |  |  | (149 | ) |  |  | 148 |  |  |  | – |  |  |  | – |  |  |  | – |
Trademark and trade name |  |  | 1,516 |  |  |  | (1,448 | ) |  |  | 68 |  |  |  | 1,425 |  |  |  | (1,425 | ) |  |  | – |
|  | $ | 27,722 |  |  | $ | (23,984 | ) |  |  | 3,738 |  |  | $ | 25,284 |  |  | $ | (20,033 | ) |  | $ | 5,251 |
We do not currently have any intangible assets with indefinite useful lives. As of June 30, 2025, future estimated amortization expense is as follows:
Schedule of future estimated amortization expense |  |  |  |
Years Ending June 30, |  |  |
(In thousands) |  |  |
2026 |  | $ | 1,562 |
2027 |  |  | 539 |
2028 |  |  | 256 |
2029 |  |  | 191 |
2030 |  |  | 191 |
Thereafter |  |  | 999 |
Total future amortization |  | $ | 3,738 |
Warranty Reserve The following table presents details of our warranty reserve:
Schedule of warranty reserve |  |  |  |  |  |  |  |
|  | Years Ended June 30, |
|  | 2025 |  |  | 2024 |
|  | (In thousands) |
Beginning balance |  | $ | 840 |  |  | $ | 788 |
Charged to cost of revenues |  |  | 220 |  |  |  | 376 |
Usage |  |  | (397 | ) |  |  | (324 | )
Ending balance |  | $ | 663 |  |  | $ | 840 |
Other Liabilities The following table presents details of our other liabilities:
Schedule of other liabilities |  |  |  |  |  |  |  |
|  | June 30, |
|  | 2025 |  |  | 2024 |
|  | (In thousands) |
Current |  |  |  |  |  |
Accrued variable consideration |  | $ | 2,557 |  |  | $ | 1,796 |
Customer deposits and refunds |  |  | 321 |  |  |  | 436 |
Accrued raw materials purchases |  |  | 204 |  |  |  | 126 |
Deferred revenue |  |  | 3,301 |  |  |  | 3,017 |
Lease liability |  |  | 1,594 |  |  |  | 1,767 |
Taxes payable |  |  | 103 |  |  |  | 772 |
Warranty reserve |  |  | 663 |  |  |  | 840 |
Accrued operating expenses |  |  | 1,879 |  |  |  | 2,217 |
Total other current liabilities |  | $ | 10,622 |  |  | $ | 10,971 |
Non-current |  |  |  |  |  |  |  |
Lease liability |  | $ | 7,811 |  |  | $ | 8,563 |
Deferred tax liability |  |  | 172 |  |  |  | 179 |
Deferred revenue |  |  | 2,255 |  |  |  | 2,736 |
Total other non-current liabilities |  | $ | 10,238 |  |  | $ | 11,478 |
Computation of Net Loss per Share The following table presents the computation of net loss per share:
Schedule of computation of net loss per share |  |  |  |  |  |  |  |
|  | Years Ended June 30, |
|  | 2025 |  |  | 2024 |
|  | (In thousands, except per share data) |
Numerator: |  |  |  |  |  |
Net loss |  | $ | (11,373 | ) |  | $ | (4,516 | )
Denominator: |  |  |  |  |  |  |  |
Weighted-average shares outstanding - basic and diluted |  |  | 38,613 |  |  |  | 37,386 |
Net loss per share - basic and diluted |  | $ | (0.29 | ) |  | $ | (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 anti-dilutive securities |  |  |  |  |  |
|  | Years Ended June 30, |
|  | 2025 |  |  | 2024 |
|  | (In thousands) |
Common stock equivalents |  |  | 528 |  |  |  | 847 |
Restructuring, Severance and Related Charges In January 2025 we undertook a headcount reduction totaling approximately 12% of our worldwide headcount primarily in the U.S. and India locations. We may incur additional charges in future periods as we identify additional cost saving opportunities related to our business. The following table presents details of the liability we recorded related to restructuring, severance and related activities during the current fiscal year:
Schedule of severance and related charges |  |  |  |
|  | Year Ended |
|  | June 30, |
|  | 2025 |
|  | (In thousands) |
Beginning balance |  | $ | 253 |
Employee-related charges |  |  | 3,156 |
Lease restructuring charges |  |  | 379 |
Payments |  |  | (3,309 | )
Ending balance |  | $ | 479 |
The ending balance is recorded in accrued payroll and related expenses on the accompanying consolidated balance sheet at June 30, 2025. Supplemental Cash Flow Information The following table presents non-cash investing and financing transactions excluded from the consolidated statements of cash flows:
Schedule of non-cash investing transactions |  |  |  |  |  |
|  | Years Ended June 30, |
|  | 2025 |  |  | 2024 |
|  | (In thousands) |
Acquisition of property through operating leases |  | $ | 1,027 |  |  | $ | – |
Accrued property and equipment paid for in the subsequent period |  | $ | 27 |  |  | $ | 74 |

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