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Income Taxes (Tables) | 12 Months Ended
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Jun. 30, 2021
Income Taxes |
Provision for income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended June 30,
​ | ​ | 2021 | ​ | 2020
​ | ​ | (In thousands)
Current: |  | ​ |  |  | ​ |
Federal | ​ | $ | — | ​ | $ | —
State | ​ |  | 16 | ​ |  | —
Total current tax expense | ​ |  | 16 | ​ |  | —
Deferred: | ​ |  | ​ | ​ | ​ | ​
Federal | ​ |  | 200 | ​ | ​ | —
State | ​ |  | 43 | ​ | ​ | —
Total deferred tax expense | ​ |  | 243 | ​ | ​ | —
Provision for income taxes | ​ | $ | 259 | ​ | $ | —
​
Effective income tax rate reconciliation | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended June 30,
​ | ​ | 2021 | ​ | ​ | 2020
​ | ​ | ​ | (In thousands)
Tax at statutory rate |  | $ | (12,185) |  | (21.00) | % |  | $ | (2,934) |  | (21.00) | %
State income taxes, net of federal benefit |  | ​ | (2,461) | ​ | (4.24) | % |  | ​ | (798) | ​ | (5.71) | %
Stock based compensation |  | ​ | 43 | ​ | 0.07 | % |  | ​ | (35) | ​ | (0.25) | %
Contingent consideration |  | ​ | (667) | ​ | (1.15) | % |  | ​ | 54 | ​ | 0.39 | %
162(m) limitation | ​ | ​ | 235 | ​ | 0.40 | % | ​ | ​ | — | ​ | 0.00 | %
Transaction costs | ​ | ​ | 160 | ​ | 0.28 | % | ​ | ​ | — | ​ | 0.00 | %
Loss on debt extinguishment and interest expense |  | ​ | — | ​ | 0.00 | % |  | ​ | 167 | ​ | 1.20 | %
Change in valuation allowance |  | ​ | 14,483 | ​ | 24.96 | % |  | ​ | 3,496 | ​ | 25.02 | %
Other |  | ​ | 651 | ​ | 1.13 | % |  | ​ | 50 | ​ | 0.35 | %
Net income tax provision (benefit) |  | $ | 259 | ​ | 0.45 | % |  | $ | — | ​ | 0.00 | %
Deferred tax assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended June 30,
​ | ​ | 2021 | ​ | 2020
​ | ​ | (In thousands)
Deferred tax assets: |  | ​ |  |  | ​ |
Net operating loss carry forward | ​ | $ | 106,712 | ​ | $ | 37,191
Accrued Rebates | ​ | ​ | 8,412 | ​ | ​ | —
Share-based compensation | ​ |  | 2,330 | ​ |  | 1,891
Accrued expenses | ​ | ​ | 1,507 | ​ | ​ | 855
R&D credits | ​ |  | 2,115 | ​ |  | 9
Interest | ​ | ​ | 2,064 | ​ | ​ | —
Inventory | ​ |  | 1,704 | ​ |  | 789
Lease liability | ​ |  | 1,031 | ​ |  | 261
Other | ​ | ​ | 1,526 | ​ | ​ | 358
Total deferred tax assets | ​ | ​ | 127,401 | ​ | ​ | 41,354
Less: valuation allowance | ​ | ​ | (116,494) | ​ | ​ | (39,552)
Deferred tax assets, net of valuation allowance | ​ | ​ | 10,907 | ​ | ​ | 1,802
Deferred tax liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Intangibles | ​ |  | (9,396) | ​ |  | (1,578)
ROU asset | ​ |  | (1,009) | ​ |  | (224)
Fixed assets | ​ | ​ | (745) | ​ | ​ | —
Total deferred tax liabilities | ​ | ​ | (11,150) | ​ | ​ | (1,802)
Net deferred tax liabilities | ​ | $ | (243) | ​ | $ | —
Tabular rollforward of gross unrecognized tax benefits | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, |
​ | ​ | 2021 | ​ | 2020 | ​
​ | ​ | (In thousands) | ​
Beginning balance | ​ | $ | — | ​ | $ | — | ​
Increase resulting from prior period tax positions | ​ |  | 12,017 | ​ |  | — | ​
Increase resulting from current period tax positions | ​ | ​ | 2 | ​ | ​ | — | ​
Decrease resulting from current period tax positions | ​ |  | (482) | ​ |  | — | ​
Ending balance | ​ | $ | 11,537 | ​ | $ | — | ​
​

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