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Income Taxes (Tables)

12 Months Ended

Jun. 30, 2020

Pre-Tax loss Information

Pre-tax loss consists of the following jurisdictions (in thousands):

		Years Ended June 30,
		2020				2019				2018
Domestic		$	(46,016	)		$	(16,819	)		$	(40,068	)
Foreign			—				—				—
Pre-tax loss		$	(46,016	)		$	(16,819	)		$	(40,068	)

Reconciliation of Income Taxes Computed at U.S Federal Statutory Tax Rates to Income Tax Expense

The reconciliation of income tax computed at the U.S. federal statutory tax rates to income tax expense is as follows (in thousands):    

		Years Ended June 30,
		2020								2019								2018
		$				%				$				%				$				%
Tax benefit (expense) at U.S. statutory rates		$	9,663				21	%		$	3,532				21	%		$	11,019				28	%
State tax			9				0	%			86				1	%			(5,370	)			-13	%
Warrant liability costs			(4,803	)			-10	%			5,803				35	%			(3,320	)			-8	%
Equity compensation			(2	)			0	%			138				1	%			(837	)			-2	%
(Increase) decrease in valuation allowance			(4,230	)			-9	%			(9,082	)			-54	%			14,914				37	%
Revaluation of deferred taxes			—				0	%			—				0	%			(15,870	)			-40	%
Other			(638	)			-1	%			(478	)			-3	%			(537	)			-1	%
		$	(1	)			0	%		$	(1	)			0	%		$	(1	)			0	%

Deferred Tax Liabilities and Assets

Deferred tax liabilities and assets are comprised of the following (in thousands):

		June 30,
		2020				2019
Deferred tax assets:
Deferred revenue		$	17,325			$	1,635
Fixed and intangible assets			18,832				15,328
Share-based payments			3,834				3,081
Tax losses carried forward			2,214				18,510
Compensation accruals			709				85
Consultant and other accruals			20				41
Charitable contributions			—				22
Total deferred tax assets			42,934				38,702
Valuation allowance for deferred tax assets			(42,934	)			(38,702	)
Net deferred tax assets and liabilities		$	—			$	—

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

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