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v3.22.2.2

Income Taxes (Tables) | 12 Months Ended
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Jun. 30, 2022
Income Tax Disclosure [Abstract] |
Provision for income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended June 30,
​ | ​ | 2022 | ​ | 2021
​ | ​ | (In thousands)
Current: | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | $ | — | ​ | $ | —
State | ​ |  | 7 | ​ |  | 16
Total current tax expense | ​ |  | 7 | ​ |  | 16
Deferred: | ​ |  | ​ | ​ |  | ​
Federal | ​ |  | (91) | ​ |  | 200
State | ​ |  | (26) | ​ |  | 43
Total deferred tax expense | ​ |  | (117) | ​ |  | 243
Provision for income taxes | ​ | $ | (110) | ​ | $ | 259
​
Effective income tax rate reconciliation | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended June 30,
​ | ​ | 2022 | ​ | ​ | 2021
​ | ​ | (In thousands)
Tax at statutory rate | ​ | $ | (23,159) | ​ | (21.00) | % | ​ | $ | (12,185) | ​ | (21.00) | %
State income taxes, net of federal benefit | ​ | ​ | 601 | ​ | 0.55 | % | ​ | ​ | (2,461) | ​ | (4.24) | %
Permanent difference | ​ | ​ | — | ​ | — | % | ​ | ​ | — | ​ | — | %
Stock based compensation | ​ | ​ | 273 | ​ | 0.27 | % | ​ | ​ | 43 | ​ | 0.07 | %
Contingent consideration | ​ | ​ | (155) | ​ | (0.14) | % | ​ | ​ | (667) | ​ | (1.15) | %
162(m) limitation | ​ | ​ | 76 | ​ | 0.08 | % | ​ | ​ | 235 | ​ | 0.40 | %
Goodwill impairment | ​ | ​ | 9,733 | ​ | 8.83 | % | ​ | ​ | — | ​ | — | %
Transaction costs | ​ | ​ | — | ​ | — | % | ​ | ​ | 160 | ​ | 0.28 | %
Change in tax rate | ​ | ​ | — | ​ | — | % | ​ | ​ | — | ​ | — | %
Remeasurement of deferred taxes | ​ | ​ | — | ​ | — | % | ​ | ​ | — | ​ | — | %
Effect of phased-in tax rate | ​ | ​ | — | ​ | — | % | ​ | ​ | — | ​ | — | %
Loss on debt extinguishment and interest expense | ​ | ​ | — | ​ | — | % | ​ | ​ | — | ​ | — | %
Change in valuation allowance | ​ | ​ | 12,472 | ​ | 11.31 | % | ​ | ​ | 14,483 | ​ | 24.96 | %
Derivative income | ​ | ​ | — | ​ | — | % | ​ | ​ | — | ​ | — | %
Other | ​ | ​ | 49 | ​ | 0.01 | % | ​ | ​ | 651 | ​ | 1.13 | %
Net income tax provision (benefit) | ​ | $ | (110) | ​ | (0.09) | % | ​ | $ | 259 | ​ | 0.45 | %
​
Deferred tax assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended June 30,
​ | ​ | 2022 | ​ | 2021
​ | ​ | (In thousands)
Deferred tax assets: | ​ | ​ | ​ | ​ | ​ | ​
Net operating loss carry forward | ​ | $ | 114,443 | ​ | $ | 106,712
Accrued Rebates | ​ | ​ | 5,944 | ​ | ​ | 8,412
Share-based compensation | ​ |  | 2,773 | ​ |  | 2,330
Accrued expenses | ​ | ​ | 817 | ​ | ​ | 1,507
R&D credits | ​ |  | 2,423 | ​ |  | 2,115
Interest | ​ | ​ | 2,975 | ​ | ​ | 2,064
Inventory | ​ |  | 1,177 | ​ |  | 1,704
Lease liability | ​ |  | 799 | ​ |  | 1,031
Other | ​ | ​ | 1,301 | ​ | ​ | 1,526
Total deferred tax assets | ​ | ​ | 132,652 | ​ | ​ | 127,401
Less: valuation allowance | ​ | ​ | (128,966) | ​ | ​ | (116,494)
Deferred tax assets, net of valuation allowance | ​ | ​ | 3,686 | ​ | ​ | 10,907
Deferred tax liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Intangibles | ​ |  | (2,717) | ​ |  | (9,396)
ROU asset | ​ |  | (308) | ​ |  | (1,009)
Fixed assets | ​ | ​ | (788) | ​ | ​ | (745)
Total deferred tax liabilities | ​ | ​ | (3,813) | ​ | ​ | (11,150)
Net deferred tax liabilities | ​ | $ | (127) | ​ | $ | (243)
​
Tabular rollforward of gross unrecognized tax benefits | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30,
​ | ​ | 2022 | ​ | 2021
​ | ​ | (In thousands)
Beginning balance | ​ | $ | 11,537 | ​ | $ | —
Increase resulting from prior period tax positions | ​ |  | — | ​ |  | 12,017
Increase resulting from current period tax positions | ​ | ​ | — | ​ | ​ | 2
Decrease resulting from current period tax positions | ​ |  | (1,704) | ​ |  | (482)
Ending balance | ​ | $ | 9,833 | ​ | $ | 11,537
​

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