Note 4 - Inventories

9 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Inventory Disclosure [Text Block]

Note 4 - Inventories

Inventories consist of raw materials, work in process and finished goods, and are recorded at the lower of cost or net realizable value, with cost determined on a first-in, first-out basis. The Company periodically reviews the composition of its inventories to identify obsolete, slow-moving or otherwise unsaleable items. In the event that such items are identified and there are no alternate uses for the inventory, the Company will record a charge to reduce the value of the inventory to net realizable value in the period first recognized. The Company incurred inventory write-downs of $0.3 million and $0.1 million for the three months ended March 31, 2024, and 2023, respectively, and $0.5 million and $0.2 million for the nine months ended March 31, 2024, and 2023, respectively.

Inventories consist of the following:

	March 31,		June 30,
	2024		2023
	(in thousands)
Raw materials	$	1,850	$	1,301
Work in process		5,020		2,956
Finished goods		6,323		7,738
Inventories	$	13,193	$	11,995