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Supplemental Financial Information
 9 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplemental Financial Information

 

4. Supplemental Financial Information

 

Inventories

          
   March 31,   June 30, 
   2025   2024 
   (In thousands) 
Finished goods  $16,160   $14,167 
Raw materials   11,991    13,531 
Inventories  $28,151   $27,698 

 

Other Liabilities

 

The following table presents details of our other liabilities:

          
   March 31,   June 30, 
   2025   2024 
   (In thousands) 
Current        
Accrued variable consideration  $2,695   $1,796 
Customer deposits and refunds   474    436 
Accrued raw materials purchases   132    126 
Deferred revenue   2,390    3,017 
Lease liability   1,605    1,767 
Taxes payable   618    772 
Warranty reserve   798    840 
Other accrued operating expenses   1,882    2,217 
Total other current liabilities  $10,594   $10,971 
           
Non-current          
Lease liability  $8,003   $8,563 
Deferred tax liability   406    179 
Deferred revenue   2,285    2,736 
Total other non-current liabilities  $10,694   $11,478 

 

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, 
   2025   2024   2025   2024 
   (In thousands, except per share data) 
Numerator:                
Net loss  $(3,868)  $(423)  $(8,742)  $(4,902)
Denominator:                    
Weighted-average common shares outstanding - basic and diluted   38,820    37,509    38,493    37,283 
                     
Net loss per share - basic and diluted  $(0.10)  $(0.01)  $(0.23)  $(0.13)

 

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.

                
   Three Months Ended   Nine Months Ended 
   March 31,   March 31, 
   2025   2024   2025   2024 
   (In thousands) 
Common stock equivalents   579    644    577    579 

 

Intangible Assets

 

The following table presents details of intangible assets:

                              
   March 31, 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   $(6,010)  $783   $6,331   $(5,293)  $1,038 
Customer relationships   19,115    (15,891)   3,224    17,528    (13,315)   4,213 
Order backlog   297    (74)   223    –    –    – 
Trademark and trade name   91    (11)   80    –    –    – 
   $26,296   $(21,986)  $4,310   $23,859   $(18,608)  $5,251 

 

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

 

As of March 31, 2025, future estimated amortization expense is as follows:

     
Years Ending June 30,    
(In thousands)     
2025 (remainder)  $622 
2026   1,662 
2027   640 
2028   356 
2029   291 
Thereafter   739 
Total future amortization  $4,310 

 

Restructuring, Severance and Related Charges

 

During the three and nine months ended March 31, 2025, we incurred charges of $1,581,000 and $2,674,000, respectively. In January 2025 we undertook a headcount reduction totaling approximately 12% of our worldwide headcount. The majority of the terminations took place in our United States and India locations. We may incur additional charges in future periods as we identify additional cost savings and efficiencies related to our business.

 

The following table presents details of the liability we recorded related to restructuring, severance and related activities:

     
   Nine Months Ended
March 31,
2025		 
   (In thousands) 
Beginning balance  $253 
Charges   2,674 
Payments   (2,089)
Ending balance  $838 

 

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, 
   2025   2024 
   (In thousands) 
Accrued property and equipment paid for in the subsequent period  $8   $54