INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2020

Income Tax Disclosure [Abstract]

Schedule of benefit (provision) for income taxes

The benefit (provision) for income taxes for the years ended June 30, 2020, 2019 and 2018 is comprised of the following:

	Year ended June 30,
($ in thousands)	2020			2019			2018
Current:
Federal	$	126		$	—		$	(22	)
State	(57		)	(269		)	(60		)
Total current	69			(269		)	(82		)
Deferred:
Federal	(156		)	(11		)	183
State	86			18			—
Total deferred	(70		)	7			183
Total income tax (provision) benefit	$	(1	)	$	(262	)	$	101

Schedule of income tax benefit in the provision for income taxes

A reconciliation of the benefit (provision) for income taxes for the years ended June 30, 2020, 2019 and 2018 to the indicated benefit (provision) based on income (loss) before benefit (provision) for income taxes at the federal statutory rate of 21.0% for the fiscal year ended June 30, 2020 and for the fiscal year ended June 30, 2019 and 27.5% for the fiscal year ended June 30, 2018 is as follows:

	Year ended June 30,
($ in thousands)	2020			2019			2018
Indicated benefit (provision) at federal statutory rate	$	8,514		$	6,671		$	3,131
Effects of permanent differences
Stock compensation	(226		)	(140		)	(46		)
Acquisition related costs	—			—			(759		)
Other permanent differences	(106		)	(76		)	(157		)
State income taxes, net of federal benefit	1,393			663			448
Changes related to prior years	489			—			(7		)
Changes in valuation allowances	(10,139		)	(7,319		)	(2,544		)
Other	74			(61		)	35
	$	(1	)	$	(262	)	$	101

Schedule of deferred tax assets and liabilities

The net deferred tax assets arose primarily from net operating loss carryforwards, as well as the use of different accounting methods for financial statement and income tax reporting purposes as follows:

	As of June 30,
($ in thousands)	2020			2019
Deferred tax assets:
Net operating loss carryforwards	$	45,670		$	38,486
Asset reserves	8,534			7,211
Deferred research and development	1,625			1,448
Stock-based compensation	668			418
Other	1,485			983
	57,982			48,546
Deferred tax liabilities:
Intangibles	(5,566		)	(6,203		)
Deferred tax assets, net	52,416			42,343
Valuation allowance	(52,553		)	(42,414		)
Deferred tax liabilities	$	(137	)	$	(71	)

Summary of activity related to unrecognized income tax benefits

The following table summarizes the activity related to unrecognized income tax benefits:

	Year ended June 30,
($ in thousands)	2020			2019		2018
Balance at the beginning of the year	$	210		$	—	$	—
Gross increases and decreases related to current period tax positions	—			180		—
Gross increases and decreases related to prior period tax positions	(3		)	—		—
Accrued interest and penalties	—			30		—
Balance at the end of the year	$	207		$	210	$	—