A financing receivable is a contractual right to receive money, on demand or on fixed or determinable dates, that is recognized as an asset on the Company’s balance sheets. The Company’s financing receivables, consisting of its accounts receivable with contractual maturities of more than one year, are included in other assets on the unaudited condensed consolidated balance sheets. The Company evaluates the credit quality of a customer at contract inception and monitors credit quality over the term of the underlying transactions. The Company performs a credit analysis for all new orders and reviews payment history, current order backlog, financial performance of the customers and other variables that augment or mitigate the inherent credit risk of a particular transaction. Such variables include the underlying value and liquidity of the collateral, the essential use of the equipment, the contract term and the

inclusion of credit enhancements, such as guarantees, letters of credit or security deposits. The Company classifies accounts as high risk when it considers the financing receivable to be impaired or when management believes there is a significant near-term risk of non‑payment. The Company performs an assessment each quarter of the allowance for credit losses related to its financing receivables.

A summary of the Company’s financing receivables is presented as follows (in thousands):


	March 31, 2025		June 30, 2024
Financing receivables	$	3,388	$	2,871
Allowance for credit losses		—		—
Total, net	$	3,388	$	2,871
Reported as:
Current	$	1,039	$	1,340
Non-current		2,349		1,531
Total, net	$	3,388	$	2,871

Inventories consisted of the following (in thousands):


	March 31, 2025		June 30, 2024
Raw materials	$	53,849	$	57,699
Work-in-process		14,333		13,629
Finished goods		78,263		66,996
Inventories, net	$	146,445	$	138,324

The Company's inventories on the unaudited condensed consolidated balance sheets are net of reserves.

Prepaid and other current assets consisted of the following (in thousands):


	March 31, 2025		June 30, 2024
Value added tax receivables	$	9,428	$	4,026
Prepaid commissions		4,853		5,288
Capitalized contract costs		1,875		1,876
Income tax receivable		1,363		368
Dividend receivable from JV		—		2,460
Other prepaid assets		6,855		5,018
Other current assets		4,829		3,970
Total prepaid and other current assets	$	29,203	$	23,006

Property and equipment, net, consisted of the following (in thousands):


	March 31, 2025			June 30, 2024
Machinery and equipment	$	47,930		$	45,539
Leasehold improvements		31,956			30,994
Software		11,333			11,308
Computer and office equipment		6,534			6,347
Furniture and fixtures		1,966			1,719
Construction in progress		3,992			2,550
		103,711			98,457
Less: Accumulated depreciation		(76,630	)		(73,683	)
Property and equipment, net	$	27,081		$	24,774

Depreciation expense related to property and equipment was $1.5 million and $4.5 million during the three and nine months ended March 31, 2025, and $1.6 million and $4.3 million during the three and nine months ended March 31, 2024, respectively.

Activity related to goodwill consisted of the following (in thousands):


	March 31, 2025		June 30, 2024
Balance at the beginning of the period	$	57,672	$	57,681
Currency translation		48		(9	)
Balance at the end of the period	$	57,720	$	57,672

The Company performed its annual goodwill impairment test in the quarter ended December 31, 2024, and determined that there was no impairment to goodwill. The Company did not identify any triggering events that would indicate a potential impairment of its goodwill as of March 31, 2025. The Company will continue to monitor its recorded goodwill for indicators of impairment every fiscal quarter.

Other assets consisted of the following (in thousands):


	March 31, 2025		June 30, 2024
Capitalized contract costs	$	5,397	$	7,768
Long-term accounts receivable		3,338		2,859
Capitalized software costs		8,650		4,683
Purchased intangible assets, net		26		59
Deferred tax asset		690		659
Other long-term assets		3,217		1,981
Total other assets		21,318		18,009

There was no amortization expense or amounts written down to net realizable value for the capitalized software costs to be sold during the three and nine months ended March 31, 2025 and 2024. The Company did not identify any triggering events that would indicate a potential impairment of its definite-lived intangible and long-lived assets as of March 31, 2025.

Other accrued liabilities consisted of the following (in thousands):


	March 31, 2025		June 30, 2024
Value added tax liabilities	$	12,928	$	5,048
Commissions due to third parties		1,325		5,202
Refunds due to customers		4,355		6,079
Accrued royalties		3,136		2,939
Accrued consulting		1,674		1,238
Interest payable		1,374		485
Income tax payable		1,250		1,206
Other liabilities		8,901		6,311
Total other accrued liabilities	$	34,943	$	28,508

The Company records treasury stock at cost. Treasury stock is comprised of shares of common stock purchased by the Company in the secondary market. As of March 31, 2025, and June 30, 2024, the Company had 3.1 million shares of treasury stock valued at $14.1 million. Treasury stock is included in Additional paid-in capital on the unaudited condensed consolidated balance sheets.

The changes in accumulated other comprehensive loss are excluded from earnings and reported as a component of stockholders’ equity. The foreign currency translation adjustment results from those subsidiaries not using the U.S. Dollar as their functional currency since the majority of their economic activities are primarily denominated in their applicable local currency. Accordingly, all assets and liabilities related to these operations are translated to the U.S. Dollar at the current exchange rates at the end of each period. Revenues and expenses are translated at average exchange rates in effect during the period.

The components of accumulated other comprehensive loss in the stockholders' equity section of the Company’s unaudited condensed consolidated balance sheets are as follows (in thousands):


	March 31, 2025			June 30, 2024
Cumulative foreign currency translation adjustment	$	(5,712	)	$	(4,777	)
Defined benefit pension obligation		555			555
Accumulated other comprehensive loss	$	(5,157	)	$	(4,222	)

Other income (expense), net, consisted of the following (in thousands):


	Three Months Ended March 31,						Nine Months Ended March 31,
	2025			2024			2025			2024
Interest income	$	322		$	303		$	903		$	956
Foreign currency exchange gain (loss)		(1,033	)		864			1,318			(1,370	)
Costs for hedging activities		(630	)		(647	)		(1,826	)		(1,335	)
Other, net		47			4			(38	)		84
Total other income (expense), net	$	(1,294	)	$	524		$	357		$	(1,665	)