Income Taxes (Tables)

12 Months Ended

Jun. 30, 2025

Schedule of sources of pretax income (loss)



Sources of Pretax Income (Loss)	Fiscal Years Ended
	June 30, 2025		June 30, 2024		June 30, 2023
	(In thousands)
Domestic	$	(26,917)	$	(27,119)	$	(52,636)
Foreign	(2,081)		2,107		(125)
Total	$	(28,998)	$	(25,012)	$	(52,761)

Components of the provision for income tax expense (benefit)


Components of the Provision for Income Tax Expense (Benefit)	Fiscal Years Ended
	June 30, 2025		June 30, 2024		June 30, 2023
	(In thousands)
Current:
Federal	$	91	$	(80)	$	(369)
State	354		44		(31)
Foreign	19		—		—
Current Total	464		(36)		(400)




Deferred Total	—		—		—
Total	$	464	$	(36)	$	(400)

Reconciliation between the expected income tax provision applying the domestic federal statutory tax rate and the reported income tax provision


Reconciliation Between the Expected Income Tax Provision Applying the Domestic Federal Statutory Tax Rate and the Reported Income Tax Provision	Fiscal Years Ended
	June 30, 2025		June 30, 2024		June 30, 2023
	(In thousands)
Expected benefit for federal income taxes at the statutory rate	$	(6,089)	$	(5,253)	$	(11,080)
State income taxes, net of federal benefit	(716)		(2,065)		(2,320)

Charges without tax benefit, net of non-taxable income	1,042		384		358
Change in valuation allowance(1)	6,472		8,542		12,595
Excess tax expense (benefit) on stock-based compensation	1,063		(61)		1,216
Research and development and other tax credits	(952)		(1,299)		(1,175)
Foreign tax differential	88		388		50

Change in uncertain tax positions	—		(81)		(90)
Other	(444)		(591)		46
Provision (benefit) for federal, state and foreign income taxes	$	464	$	(36)	$	(400)

(1)Due to the existence of a cumulative loss over a three-year period, we recorded a full valuation allowance against our deferred tax assets in fiscal 2022 and recorded additional valuation allowances against newly generated deferred tax assets in fiscal 2023, 2024, and 2025. These assets are primarily comprised of federal net operating losses, which have an indefinite carryforward, federal tax credits and state net operating losses. To the extent we generate taxable income in the future, or cumulative losses are no longer present and our future projections for growth or tax planning strategies are demonstrated, we will realize the benefit associated with the net operating losses for which the valuation allowance has been provided.

Significant components of the Company's deferred tax assets and liabilities

Significant Components of our Deferred Tax Assets and Liabilities


	June 30, 2025		June 30, 2024
	(In thousands)
Deferred tax assets:
Accruals and reserves	$	2,267	$	283
Bad debt reserve	65		52

Insurance reserve	971		941

Net operating loss benefit and credit carryforwards	32,043		29,626
Accrued compensation and pension	1,487		1,273

Stock compensation expense on nonvested restricted stock units	3,353		3,438


Book over tax amortization	4,033		5,607

Research and development capitalization	14,882		12,425
Foreign currency translation and other	1,271		1,324
Total deferred tax assets	60,372		54,969
Valuation allowance	(55,973)		(49,434)
Deferred tax assets, net	4,399		5,535
Deferred tax liabilities:
Tax over book depreciation	3,920		5,081



Other	504		479
Total deferred tax liabilities	4,424		5,560
Net deferred tax liability	$	(25)	$	(25)

Summary of Operating Loss Carryforwards


Operating Loss and Tax Credit Carryforwards	Expiration Period	Amount (in thousands)
Federal net operating loss	Indefinite	$	41,388
Federal tax credits	June 2041 to June 2045	$	6,056
Federal foreign tax credits	June 2035	$	16
State net operating losses	June 2026 to indefinite	$	120,732
State tax credits	June 2033 to indefinite	$	641
Foreign net operating losses	June 2029 to June 2045	$	34,117
Foreign tax credits	June 2035 to June 2045	$	701