INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Schedule of benefit (provision) for income taxes

The provision for income taxes for the years ended June 30, 2023, 2022 and 2021 is comprised of the following:

	Year ended June 30,
($ in thousands)	2023		2022		2021
Current:
Federal	$	—	$	—	$	—
State	(92)		(179)		(328)
Foreign	—		—		—
Total current	(92)		(179)		(328)
Deferred:
Federal	(62)		(18)		(12)
State	(27)		11		(30)
Foreign	—		—		—
Total deferred	(89)		(7)		(42)
Total income tax provision	$	(181)	$	(186)	$	(370)

Schedule of income tax benefit in the provision for income taxes

A reconciliation of the provision for income taxes for the years ended June 30, 2023, 2022 and 2021 to the indicated provision based on income (loss) before the provision for income taxes at the federal statutory rate of 21.0% for the fiscal years ended June 30, 2023, June 30, 2022, and June 30, 2021 is as follows:

	Year ended June 30,
($ in thousands)	2023		2022		2021
U.S. federal statutory income tax rate	$	(171)	$	319	$	1,648
Effects of permanent differences
Stock compensation	$	(688)	$	(184)	$	168
Other permanent differences	$	(497)	$	(106)	$	608
State income taxes, net of federal benefit	$	(296)	$	(275)	$	116
Changes related to prior years	$	51	$	—	$	—
Changes related to state tax rates	$	(2,455)	$	—	$	—
Changes in valuation allowances	$	3,942	$	184	$	(2,927)
Other	$	(67)	$	(124)	$	17
Effective income tax rate	$	(181)	$	(186)	$	(370)

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)	2023		2022
Deferred tax assets:
Net operating loss carryforwards	$	42,614	$	47,984
Asset reserves	6,500		6,666
Deferred research and development	2,856		1,503
Stock-based compensation	3,798		3,416
Other	(978)		(143)
	54,790		59,426
Deferred tax liabilities:
Intangibles	(3,689)		(4,316)
Deferred tax assets, net	51,101		55,110
Valuation allowance	(51,376)		(55,296)
Deferred tax liabilities	$	(275)	$	(186)

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)	2023		2022		2021
Balance at the beginning of the year	$	572	$	444	$	207
Gross increases and decreases related to current period tax positions	—		—		—
Gross increases and decreases related to prior period tax positions	117		128		237
Balance at the end of the year	$	689	$	572	$	444

Schedule of Pre-Tax Income (Loss)

The components of pre-tax income (loss) are as follows:

	Year ended June 30,
($ in thousands)	2023		2022		2021
U.S. income (loss)	$	996	$	(1,517)	$	(8,335)
Other income (loss)	(182)		—		—
Total income (loss)	$	814	$	(1,517)	$	(8,335)