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Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Net revenue:        
Revenue $ 113,243 $ 101,132 $ 330,962 $ 312,262
Cost of revenue:        
Total cost of revenue [1] 81,616 72,058 222,974 207,793
Gross profit 31,627 29,074 107,988 104,469
Operating expenses:        
Research and development [2] 10,712 10,909 36,472 40,203
Selling and marketing 9,110 10,318 31,906 31,923
General and administrative 10,758 12,409 36,005 38,656
Total operating expenses 30,580 33,636 104,383 110,782
Income (loss) from operations 1,047 (4,562) 3,605 (6,313)
Income from equity method investment, net 2,297 1,024 3,829 1,028
Interest expense (2,890) (2,884) (8,728) (8,728)
Other income (expense), net (1,294) 524 357 (1,665)
Loss before provision for income taxes (840) (5,898) (937) (15,678)
Provision for income taxes 457 444 1,777 3,254
Net loss $ (1,297) $ (6,342) $ (2,714) $ (18,932)
Net loss per share - basic $ (0.01) $ (0.06) $ (0.03) $ (0.19)
Net loss per share - diluted $ (0.01) $ (0.06) $ (0.03) $ (0.19)
Weighted average common shares used in computing net loss per share:        
Basic 102,825 99,197 101,462 97,838
Diluted 102,825 99,197 101,462 97,838
Other comprehensive loss:        
Net Income (Loss) $ (1,297) $ (6,342) $ (2,714) $ (18,932)
Foreign currency translation adjustment 244 (2,965) (935) (2,330)
Comprehensive loss (1,053) (9,307) (3,649) (21,262)
Products        
Net revenue:        
Revenue [3] 57,320 49,603 166,878 154,491
Cost of revenue:        
Total cost of revenue 44,301 35,945 111,315 105,977
Services        
Net revenue:        
Revenue [4] 55,923 51,529 164,084 157,771
Cost of revenue:        
Total cost of revenue $ 37,315 $ 36,113 $ 111,659 $ 101,816
[1] Includes cost of revenue from sales to the joint venture, an equity method investment, of $17,411 and $53,303 during the three and nine months ended March 31, 2025, and $13,887 and $40,260 during the three and nine months ended March 31, 2024, respectively.
[2] Includes charge backs to the joint venture, an equity method investment, related to research and development of $373 and $1,105 during the three and nine months ended March 31, 2025, and $199 during the nine months ended March 31, 2024. There were no charge backs to the joint venture related to research and development during the three months ended March 31, 2024.
[3] Includes sales of products to the joint venture, an equity method investment, of $17,967 and $76,333 during the three and nine months ended March 31, 2025, and $15,662 and $55,504 during the three and nine months ended March 31, 2024, respectively. See Note 12.
[4] Includes sales of services to the joint venture, an equity method investment, of $5,351 and $14,588 during the three and nine months ended March 31, 2025, and $3,982 and $10,970 during the three and nine months ended March 31, 2024, respectively. See Note 12.