Inventories

9 Months Ended

Mar. 31, 2023

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 first recognized. The Company incurred $0.1 million and $2.0 million for the three months ended March 31, 2023 and 2022, respectively; and $0.2 million and $2.4 million for the nine months ended March 31, 2023 and 2022, respectively.

Inventory balances consist of the following:

		March 31,		June 30,
		2023		2022
	(In thousands)
Raw materials		$	2,223	$	1,814
Work in process			2,817		1,838
Finished goods			8,597		7,197
Inventory		$	13,637	$	10,849