Inventories

6 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Inventories

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 that the impairment is first recognized. The Company incurred no charges and $0.1 million for the three months ended December 31, 2022 and 2021, respectively; and $0.1 million and $0.3 million for the six months ended December 31, 2022 and December 31, 2021, respectively.

Inventory balances consist of the following:

		December 31,		June 30,
		2022		2022
	(In thousands)
Raw materials		$	1,786	$	1,814
Work in process			2,803		1,838
Finished goods			8,361		7,197
Inventory		$	12,950	$	10,849