Joint Venture (Tables)

6 Months Ended

Dec. 31, 2022

Equity Method Investments and Joint Ventures [Abstract]

Summary of Reconciliation Between the Carrying Value of Investment and Proportional Share of Underlying Equity in Net Assets of Joint Ventures

The following table shows the reconciliation between the carrying value of the Company's investment in the JV and its proportional share of the underlying equity in net assets of the JV (in thousands):

	December 31,  2022			June 30, 2022
Carrying value of investment in joint venture	$	12,276		$	13,879
Deferred intra-entity profit margin		4,469			5,456
Equity method goodwill		(4,720	)		(4,720	)
Proportional share of equity investment in joint venture	$	12,025		$	14,615

Summary of Financial Information of Joint Ventures (Operations Data)

Summarized financial information of the JV, based on a one-quarter lag due to the timing of the availability of the JV’s financial records, is as follows (in thousands):

	Three Months Ended September 30,						Six Months Ended September 30,
Statement of Operations Data:	2022			2021			2022			2021
Revenue	$	23,983		$	8,123		$	50,723		$	15,792
Gross Profit		3,719			2,602			8,315			4,942
Net loss		(1,416	)		(1,698	)		(2,168	)		(2,391	)
Net loss attributable to the Company		(699	)		(832	)		(1,067	)		(1,172	)

Summary of Financial Information of Joint Ventures (Balance Sheet Data)

Summarized Balance Sheet Data:	As of September 30, 2022		As of September 30, 2021
Assets
Current assets	$	74,525	$	59,250
Non-current assets		17,658		22,677
Total assets	$	92,183	$	81,927
Liabilities and Stockholders' Equity
Current liabilities	$	66,618	$	53,700
Non-current liabilities		669		1,147
Stockholders' equity		24,896		27,080
Total liabilities and stockholders' equity	$	92,183	$	81,927

Schedule of Deferred Intra Entity Profit Margin from Sales

The following table shows the activity of the Company’s deferred intra-entity profit margin from sales (in thousands):

	Three Months Ended December 31,						Six Months Ended December 31,
	2022			2021			2022			2021
Previously deferred intra-entity profit margin from sales - recognized	$	(4,067	)	$	(1,002	)	$	(6,415	)	$	(1,217	)
Intra-entity profit margin from sales - deferred		3,042			219			5,429			2,172
Total change in deferred intra-entity profit margin from sales	$	(1,025	)	$	(783	)	$	(986	)	$	955