v3.23.1
Share-based compensation (Tables)
 9 Months Ended
Mar. 31, 2023
Share-based Payment Arrangement [Abstract]  
Summary of Total Stock-Based Compensation Expenses

The Company recorded share-based compensation expense in the following expense categories in the condensed consolidated statements of operations for the three and nine months ended March 31, 2023 and 2022 (in thousands):

 

 

Three months ended March 31,

 

 

Nine Months Ended March 31,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Research and development

 

$

56

 

 

$

78

 

 

$

236

 

 

$

378

 

General and administrative

 

 

709

 

 

 

845

 

 

$

2,108

 

 

 

2,432

 

Cost of revenue

 

 

5

 

 

 

—

 

 

$

7

 

 

 

—

 

 

$

770

 

 

$

923

 

 

$

2,351

 

 

$

2,810

 
Summary of Stock Option Pricing Model Assumption

For the three months ended March 31, 2023 and 2022, the grant date fair value of all option grants was estimated at the time of grant using the Black-Scholes option-pricing model using the following weighted average assumptions:

 

 

Nine Months Ended March 31,

 

 

 

2023

 

 

2022

 

Expected term (in years)

 

 

6.1

 

 

6.0

 

Expected volatility

 

 

66.9

%

 

 

65.8

%

Risk-free rate

 

 

3.2

%

 

 

1.43

%

Dividend yield

 

 

—

%

 

 

—

%
Summary of Option Activity

The following table summarizes the stock option granted to employees and non-employees for the nine months ended March 31, 2023:

 

 

Number of
shares under
option plan

 

 

Weighted-
average
exercise price
per option

 

 

Weighted-
average
remaining
contractual
life (in years)

 

Outstanding at June 30, 2022

 

 

4,599,899

 

 

$

4.93

 

 

 

8.1

 

Granted

 

 

555,300

 

 

$

1.85

 

 

 

 

Exercised

 

 

—

 

 

 

 

 

 

 

Forfeited

 

 

(196,686

)

 

$

9.77

 

 

 

 

Outstanding at March 31, 2023

 

 

4,958,513

 

 

$

4.39

 

 

 

7.0

 

Exercisable at March 31, 2023

 

 

3,870,316

 

 

$

4.13

 

 

 

6.4

 

Vested and expected to vest at March 31, 2023

 

 

4,958,513

 

 

$

4.39

 

 

 

7.0

 
Summary of Restricted Stock Units

Activity for restricted stock units for the nine months ended March 31, 2023 is as follows:

 

 

Number of
Restricted Stock Units

 

 

Weighted-
average
Grant Date Fair Value

 

Non-vested balance at June 30, 2022

 

 

—

 

 

$

-

 

Granted

 

 

131,380

 

 

$

1.53

 

Vested

 

 

(62,100

)

 

$

1.44

 

Forfeited

 

 

(4,620

)

 

$

1.69

 

Non-vested balance at December 31, 2022

 

 

64,660

 

 

$

1.61