XML 33 R15.htm IDEA: XBRL DOCUMENT v3.25.2
Supplemental Financial Information
 12 Months Ended
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:

          
   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:

          
   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:

          
   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:

     
   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:

                              
   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:

     
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:

          
   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:

          
   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:

          
   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.

        
   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:

     
   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:

        
   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