Fair Value Disclosure (Tables)

6 Months Ended

Dec. 31, 2021

Schedule of Cash Equivalents and Long-term Investments Measured at Fair value on a Recurring Basis

The following table sets forth the Company’s financial instruments as of December 31, 2021 and June 30, 2021, which are measured at fair value on a recurring basis by level within the fair value hierarchy. These are classified based on the lowest level of input that is significant to the fair value measurement (in thousands):


December 31, 2021	Level 1		Level 2		Level 3		Asset at Fair Value
Assets
Money market funds (1)	$	151	$	—	$	—	$	151
Certificates of deposit (2)	—		860		—		860
Auction rate security	—		—		1,556		1,556
Total assets measured at fair value	$	151	$	860	$	1,556	$	2,567


June 30, 2021	Level 1		Level 2		Level 3		Asset at Fair Value
Assets
Money market funds (1)	$	151	$	—	$	—	$	151
Certificates of deposit (2)	—		863		—		863
Auction rate security	—		—		1,556		1,556
Total assets measured at fair value	$	151	$	863	$	1,556	$	2,570

(1) $0.2 million and $0.2 million in money market funds are included in restricted cash, non-current in other assets in the condensed consolidated balance sheets as of December 31, 2021 and June 30, 2021, respectively.

(2) $0.2 million and $0.2 million in certificates of deposit are included in cash and cash equivalents, $0.3 million and $0.3 million in certificates of deposit are included in prepaid expenses and other assets, and $0.4 million and $0.4 million in certificates of deposit are included in restricted cash, non-current in other assets in the condensed consolidated balance sheets as of December 31, 2021 and June 30, 2021, respectively.

Summary of Long-term Investments

The following is a summary of the Company’s investment in an auction rate security as of December 31, 2021 and June 30, 2021 (in thousands):


	Cost Basis		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses		Fair Value
Auction rate security	$	1,750	$	—	$	(194)	$	1,556