Contract Liabilities |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Contract Liabilities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Contract liabilities | Note 10 — Contract liabilities
Contract liabilities primarily consist of obligations associated with customer credits that will be satisfied through future product deliveries. Contract liabilities are recorded when the Company has received consideration or otherwise has an obligation to provide future goods or services to a customer. Revenue is recognized when control of the related products transfers to the customer.
During the year ended June 30, 2026, contract liabilities increased by approximately $1.9 million primarily as a result of a price adjustment agreed upon with a major customer related to prior orders. Under the arrangement, the customer is entitled to receive credit that may only be applied against future purchases of the Company's products. Accordingly, the Company recorded the obligation within contract liabilities and will recognize the associated amount as revenue is recognized on future product shipments to the customer.
The following table presents the Company’s contract liabilities balances and changes therein:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||