Inventory

12 Months Ended

Jun. 30, 2022

Inventory [Abstract]

Inventory

5.INVENTORY

The Company’s inventory comprised the following categories as of June 30, 2022, and 2021.

	June 30,		June 30,
	2022		2021
Raw materials	$	2,446	$	-
Work in progress		147		-
Finished goods		31,633		22,361
	$	34,226	$	22,361

As of June 30, 2022 and 2021, finished goods includes $13.7 million and $16.5 million, respectively, of Cell C airtime inventory that was previously classified as finished goods subject to sale restrictions.

In support of Cell C’s liquidity position, the Company has limited the resale of this airtime to its own distribution channels until such time as Cell C’s recapitalization process is concluded. In light of the dynamics in the wholesale airtime inventory market as of June 30, 2020, the Company believed the net realizable value of certain airtime inventory held as of June 30, 2020, measured at amounts reflecting existing market conditions, was below its cost. Accordingly, the Company recorded a loss of $1.3 million during the year ended June 30, 2020, related to this airtime inventory. The Company believes that these market dynamics in the wholesale airtime inventory market continue as of June 30, 2022 and 2021, respectively, but no further adjustment is necessary.