OSI Systems (OSIS) 10-Q 28 Apr 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2023	Apr. 25, 2023
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	000-23125
Entity Registrant Name	OSI SYSTEMS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	33-0238801
Entity Address, Address Line One	12525 Chadron Avenue
Entity Address, City or Town	Hawthorne
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90250
City Area Code	310
Local Phone Number	978-0516
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	OSIS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		16,727,882
Entity Central Index Key	0001039065
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 65,622	$ 64,202
Accounts receivable, net	300,663	307,973
Inventories	371,795	333,907
Prepaid expenses and other current assets	40,454	40,062
Total current assets	778,534	746,144
Property and equipment, net	109,139	109,684
Goodwill	346,716	336,357
Intangible assets, net	140,192	138,370
Other assets	108,722	112,595
Total assets	1,483,303	1,443,150
CURRENT LIABILITIES:
Bank lines of credit	215,000	60,000
Current portion of long-term debt	8,080	244,575
Accounts payable	127,255	125,204
Accrued payroll and related expenses	48,287	46,379
Advances from customers	33,841	19,917
Other accrued expenses and current liabilities	117,950	117,879
Total current liabilities	550,413	613,954
Long-term debt	138,190	48,668
Deferred income taxes	11,794	11,112
Other long-term liabilities	115,989	130,992
Total liabilities	816,386	804,726
Commitments and contingencies
STOCKHOLDERS' EQUITY:
Preferred stock, $0.001 par value- 10,000,000 shares authorized; no shares issued or outstanding
Common stock, $0.001 par value-100,000,000 shares authorized; issued and outstanding, 16,870,050 shares at June 30, 2022 and 16,727,121 shares at March 31, 2023	17	17
Retained earnings	693,576	663,869
Accumulated other comprehensive loss	(26,676)	(25,462)
Total stockholders' equity	666,917	638,424
Total liabilities and stockholders' equity	$ 1,483,303	$ 1,443,150

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2023	Jun. 30, 2022
CONDENSED CONSOLIDATED BALANCE SHEETS
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	16,727,121	16,870,050
Common stock, shares outstanding	16,727,121	16,870,050

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Net revenues:
Total net revenues	$ 302,889	$ 290,477	$ 866,557	$ 846,415
Cost of goods sold:
Total cost of goods sold	199,103	187,619	579,067	544,454
Gross profit	103,786	102,858	287,490	301,961
Operating expenses:
Selling, general and administrative	53,707	57,813	161,148	170,015
Research and development	14,852	15,150	43,848	44,944
Impairment, restructuring and other charges, net	890	1,469	4,366	4,810
Total operating expenses	69,449	74,432	209,362	219,769
Income from operations	34,337	28,426	78,128	82,192
Interest and other expense, net	(5,727)	(2,301)	(14,339)	(6,534)
Other income, net		27,373		27,373
Income before income taxes	28,610	53,498	63,789	103,031
Provision for income taxes	(6,802)	(10,763)	(14,392)	(21,447)
Net income	$ 21,808	$ 42,735	$ 49,397	$ 81,584
Earnings per share:
Basic	$ 1.30	$ 2.45	$ 2.93	$ 4.60
Diluted	$ 1.27	$ 2.41	$ 2.88	$ 4.52
Shares used in per share calculation:
Basic	16,809	17,417	16,858	17,734
Diluted	17,184	17,709	17,151	18,036
Products
Net revenues:
Total net revenues	$ 223,724	$ 221,857	$ 637,563	$ 634,446
Cost of goods sold:
Total cost of goods sold	156,534	150,311	458,197	432,277
Services
Net revenues:
Total net revenues	79,165	68,620	228,994	211,969
Cost of goods sold:
Total cost of goods sold	$ 42,569	$ 37,308	$ 120,870	$ 112,177

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 21,808	$ 42,735	$ 49,397	$ 81,584
Other comprehensive income (loss):
Foreign currency translation adjustment, net of tax	1,569	(1,981)	(3,309)	(4,907)
Net unrealized gain (loss) on investments and derivatives, net of tax	(1,430)		1,098
Other, net of tax	332	132	997	396
Other comprehensive income (loss)	471	(1,849)	(1,214)	(4,511)
Comprehensive income	$ 22,279	$ 40,886	$ 48,183	$ 77,073

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Retained Earnings	Accumulated Other Comprehensive Loss	Total
Balance at Jun. 30, 2021	$ 105,724	$ 548,842	$ (14,746)	$ 639,820
Balance (in shares) at Jun. 30, 2021	17,854,110
Increase (Decrease) in Shareholders' Equity
Exercise of stock options	$ 311			311
Exercise of stock options (in shares)	164,612
Vesting of RSUs (in shares)	335,099
Shares issued under employee stock purchase program	$ 4,297			4,297
Shares issued under employee stock purchase program (in shares)	60,065
Stock-based compensation expense	$ 20,986			20,986
Repurchase of common stock	$ (85,184)	(11,648)		(96,832)
Repurchase of common stock (in shares)	(1,117,258)
Taxes paid related to net share settlement of equity awards	$ (19,354)			(19,354)
Taxes paid related to net share settlement of equity awards (in shares)	(252,775)
Adoption of ASU 2020-06 for convertible notes	$ (26,763)	18,956		(7,807)
Net income		81,584		81,584
Other comprehensive loss			(4,511)	(4,511)
Balance at Mar. 31, 2022	$ 17	637,734	(19,257)	618,494
Balance (in shares) at Mar. 31, 2022	17,043,853
Balance at Dec. 31, 2021	$ 30,909	606,647	(17,408)	620,148
Balance (in shares) at Dec. 31, 2021	17,643,903
Increase (Decrease) in Shareholders' Equity
Vesting of RSUs (in shares)	6,027
Shares issued under employee stock purchase program	$ 2,307			2,307
Shares issued under employee stock purchase program (in shares)	32,105
Stock-based compensation expense	$ 6,898			6,898
Repurchase of common stock	$ (39,904)	(11,648)		(51,552)
Repurchase of common stock (in shares)	(635,962)
Taxes paid related to net share settlement of equity awards	$ (193)			(193)
Taxes paid related to net share settlement of equity awards (in shares)	(2,220)
Net income		42,735		42,735
Other comprehensive loss			(1,849)	(1,849)
Balance at Mar. 31, 2022	$ 17	637,734	(19,257)	618,494
Balance (in shares) at Mar. 31, 2022	17,043,853
Balance at Jun. 30, 2022	$ 17	663,869	(25,462)	638,424
Balance (in shares) at Jun. 30, 2022	16,870,050
Increase (Decrease) in Shareholders' Equity
Exercise of stock options	$ 1,330			1,330
Exercise of stock options (in shares)	19,614
Vesting of RSUs (in shares)	312,038
Shares issued under employee stock purchase program	$ 4,041			4,041
Shares issued under employee stock purchase program (in shares)	59,255
Stock-based compensation expense	$ 21,528			21,528
Repurchase of common stock	$ (17,067)	(17,682)		(34,749)
Repurchase of common stock (in shares)	(400,230)
Taxes paid related to net share settlement of equity awards	$ (9,832)	(2,008)		(11,840)
Taxes paid related to net share settlement of equity awards (in shares)	(133,606)
Net income		49,397		49,397
Other comprehensive loss			(1,214)	(1,214)
Balance at Mar. 31, 2023	$ 17	693,576	(26,676)	666,917
Balance (in shares) at Mar. 31, 2023	16,727,121
Balance at Dec. 31, 2022	$ 2,530	672,371	(27,147)	647,754
Balance (in shares) at Dec. 31, 2022	16,819,609
Increase (Decrease) in Shareholders' Equity
Exercise of stock options	$ 891			891
Exercise of stock options (in shares)	11,848
Vesting of RSUs (in shares)	5,510
Shares issued under employee stock purchase program	$ 2,072			2,072
Shares issued under employee stock purchase program (in shares)	30,652
Stock-based compensation expense	$ 7,112			7,112
Repurchase of common stock	$ (12,362)	(603)		(12,965)
Repurchase of common stock (in shares)	(138,469)
Taxes paid related to net share settlement of equity awards	$ (226)			(226)
Taxes paid related to net share settlement of equity awards (in shares)	(2,029)
Net income		21,808		21,808
Other comprehensive loss			471	471
Balance at Mar. 31, 2023	$ 17	$ 693,576	$ (26,676)	$ 666,917
Balance (in shares) at Mar. 31, 2023	16,727,121

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 49,397	$ 81,584
Adjustments to reconcile net income to net cash provided by operating activities, net of effects from acquisitions:
Depreciation and amortization	28,819	28,980
Stock-based compensation expense	21,528	20,986
Recovery of losses on accounts receivable	(4,890)	(3,836)
Deferred income taxes	942	1,448
Amortization of debt discount and issuance costs	196	1,045
Gain on sale of property and equipment		(27,373)
Other	(46)	(1,074)
Changes in operating assets and liabilities-net of business acquisitions:
Accounts receivable	13,248	10,613
Inventories	(37,860)	(53,766)
Prepaid expenses and other assets	(4,924)	8,010
Accounts payable	2,134	(11,000)
Accrued payroll and related expenses	2,151	(9,837)
Advances from customers	13,963	7,523
Other	(11,980)	(11,490)
Net cash provided by operating activities	72,678	41,813
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of property and equipment	(12,691)	(10,293)
Proceeds from sale of property and equipment	309	32,304
Purchases of certificates of deposit	(4,940)	(2,201)
Proceeds from certificates of deposit	3,827	55
Acquisition of businesses, net of cash acquired	(4,616)	(14,132)
Payments for intangible and other assets	(12,275)	(12,320)
Net cash used in investing activities	(30,386)	(6,587)
CASH FLOWS FROM FINANCING ACTIVITIES
Net borrowings on bank lines of credit	155,000	73,000
Proceeds from long-term debt	100,654	50,285
Payments on long-term debt	(247,818)	(40,893)
Proceeds from exercise of stock options and employee stock purchase plan	5,371	4,608
Payments of contingent consideration	(3,668)	(1,671)
Repurchases of common stock	(34,749)	(96,832)
Taxes paid related to net share settlement of equity awards	(11,840)	(19,354)
Net cash used in financing activities	(37,050)	(30,857)
Effect of exchange rate changes on cash	(3,822)	(1,703)
Net change in cash and cash equivalents	1,420	2,666
Cash and cash equivalents-beginning of period	64,202	80,613
Cash and cash equivalents-end of period	65,622	83,279
Supplemental disclosure of cash flow information:
Interest	14,648	5,851
Income taxes	$ 15,769	$ 9,964

Basis of Presentation

Basis of Presentation	9 Months Ended
	Mar. 31, 2023
Basis of Presentation
Basis of Presentation	1. Basis of Presentation The condensed consolidated financial statements include the accounts of OSI Systems, Inc. and our subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. The condensed consolidated financial statements have been prepared by management in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in conjunction with the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures required for annual financial statements have been condensed or excluded in accordance with SEC rules and regulations and GAAP applicable to interim unaudited financial statements. Accordingly, the condensed consolidated financial statements do not include all of the information and footnotes required by GAAP for audited annual financial statements. In the opinion of management, the condensed consolidated financial statements reflect all adjustments of a normal and recurring nature that are considered necessary for a fair presentation of the results for the interim periods presented. These unaudited condensed consolidated financial statements and the accompanying notes should be read in conjunction with the audited consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2022 filed with the SEC. There have been no material changes to our significant accounting policies from those disclosed therein. The accompanying condensed consolidated balance sheet as of June 30, 2022 was derived from the Company's audited consolidated financial statements at that date. The results of operations for the three and nine months ended March 31, 2023 are not necessarily indicative of the operating results to be expected for the full 2023 fiscal year or any future periods. ​ Use of Estimates ​ The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of sales, costs of sales and expenses during the reporting period. The most significant of these estimates and assumptions for our company relate to contract revenue, fair values of assets acquired and liabilities assumed in business combinations, values for inventories reported at lower of cost or net realizable value, stock-based compensation expense, income taxes, accrued warranty costs, and the recoverability, useful lives and valuation of recorded amounts of long-lived assets, identifiable intangible assets and goodwill. Changes in estimates are reflected in the periods during which they become known. Due to the inherent uncertainty involved in making estimates, our actual amounts reported in future periods could differ materially from these estimates. ​ Earnings Per Share Computations ​ We compute basic earnings per share by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. We compute diluted earnings per share by dividing net income available to common stockholders by the sum of the weighted average number of common shares and dilutive potential common shares outstanding during the period. Potential common shares consist of the shares issuable upon the exercise of stock options and restricted stock unit awards under the treasury stock method. ​ The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, Nine Months Ended March 31, ​ ​ 2022 2023 2022 2023 Net income available to common stockholders ​ $ 42,735 ​ $ 21,808 ​ $ 81,584 ​ $ 49,397 Weighted average shares outstanding—basic ​ 17,417 ​ 16,809 ​ 17,734 ​ 16,858 Dilutive effect of equity awards ​ 292 ​ 375 ​ 302 ​ 293 Weighted average shares outstanding—diluted ​ 17,709 ​ 17,184 ​ 18,036 ​ 17,151 Basic earnings per share ​ $ 2.45 ​ $ 1.30 ​ $ 4.60 ​ $ 2.93 Diluted earnings per share ​ $ 2.41 ​ $ 1.27 ​ $ 4.52 ​ $ 2.88 Shares excluded from diluted earnings per share due to their anti-dilutive effect ​ ​ 211 ​ ​ 60 ​ ​ 62 ​ ​ 75 ​ Cash and Cash Equivalents ​ We consider all highly liquid investments with maturities of three months or less as of the acquisition date to be cash equivalents. Our cash and cash equivalents totaled $65.6 million at March 31, 2023. Of this amount, approximately 81% was held by our foreign subsidiaries and subject to repatriation tax considerations. These foreign funds were held primarily by our subsidiaries in the United Kingdom, India, Singapore, Malaysia and Canada, and to a lesser extent in Mexico, Indonesia, Albania and Australia. We have cash holdings in financial institutions that exceed insured limits for such financial institutions; we mitigate this risk, however, by utilizing international financial institutions of high credit quality. ​ Fair Value of Financial Instruments ​ Our financial instruments consist primarily of cash and cash equivalents, insurance company contracts, accounts receivable, accounts payable, debt instruments, an interest rate swap contract and foreign currency forward contracts. The carrying values of financial instruments, other than long-term debt instruments and the interest rate swap contract, are representative of their fair values due to their short-term maturities. The carrying values of our long-term debt instruments are considered to approximate their fair values because the interest rates of these instruments are variable or comparable to current rates for financing available to us. The fair values of our foreign currency forward contracts were not significant as of June 30, 2022 and March 31, 2023. ​ Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Level 1 category includes assets and liabilities measured at quoted prices in active markets for identical assets and liabilities. The Level 2 category includes assets and liabilities measured from observable inputs other than quoted market prices. The Level 3 category includes assets and liabilities for which valuation inputs are unobservable and significant to the fair value measurement. Our contingent payment obligations related to acquisitions, which are further discussed in Note 10 to the condensed consolidated financial statements, are in the Level 3 category for valuation purposes. ​ The fair values of our financial assets and liabilities are categorized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 March 31, 2023 ​ Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets—Insurance company contracts ​ $ — ​ $ 40,284 ​ $ — ​ $ 40,284 ​ $ — ​ $ 43,471 ​ $ — ​ $ 43,471 Assets – Interest rate swap contract ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,641 ​ $ — ​ $ 1,641 Liabilities—Convertible debt ​ $ — ​ $ 242,302 ​ $ — ​ $ 242,302 ​ $ — ​ $ — ​ $ — ​ $ — Liabilities—Contingent consideration ​ $ — ​ $ — ​ $ 28,212 ​ $ 28,212 ​ $ — ​ $ — ​ $ 20,060 ​ $ 20,060 ​ Derivative Instruments and Hedging Activity ​ Our use of derivatives consists of foreign currency forward contracts and an interest rate swap agreement. The foreign currency forward contracts are utilized to partially mitigate certain balance sheet exposures or used as a net investment hedge to protect against potential changes resulting from short-term foreign currency fluctuations. These contracts have original maturities of up to three months. We also manage our risk to changes in interest rates using derivative instruments. We use fixed interest rate swaps to effectively convert a portion of the variable interest rate payments to fixed interest rate payments. We do not use hedging instruments for speculative purposes. ​ The net gains or losses from our foreign currency forward contracts, which are not designated as hedge instruments, are reported in the consolidated statements of operations. The amounts reported in the consolidated statements of operations for the three and nine months ended March 31, 2022 and 2023 were not significant. The fair value of our foreign currency forward contracts is estimated using a standard valuation model and market-based observable inputs over the contractual term. Unrealized gains are recognized as assets and unrealized losses are recognized as liabilities. As of June 30, 2022 and March 31, 2023, we held foreign currency forward contracts with notional amounts totaling $22.9 million and $19.8 million, respectively. Unrealized gains and losses from our foreign currency forward contracts as of March 31, 2022 and 2023 were not significant. The interest rate swap agreement was entered into to improve the predictability of cash flows from interest payments related to our variable, Secured Overnight Financing Rate (“SOFR”) based debt. The interest rate swap matures in December 2026. The interest rate swap is considered an effective cash flow hedge, and as a result, the net gains or losses on such instrument are reported as a component of other comprehensive income (loss) in the consolidated financial statements and are reclassified as net income when the underlying hedged interest impacts earnings. A qualitative and quantitative assessment over the hedge effectiveness is performed on a quarterly basis, unless facts and circumstances indicate that the hedge may no longer be highly effective. As of June 30, 2022 and March 31, 2023, the notional amount of the derivative instruments designated as an interest rate swap hedge was $0 and $175 million, respectively. The fair value of the interest rate swap contract as of March 31, 2023 was $1.6 million and is recorded in Other assets within the condensed consolidated balance sheet. The effect of the cash flow hedges on other comprehensive income (loss) and earnings for the periods presented was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, Nine Months Ended March 31, ​ ​ 2022 2023 ​ 2022 2023 Total interest and other expense, net presented in the condensed consolidated statements of operations in which the effects of cash flow hedges are recorded ​ $ (2,301) ​ $ (5,727) ​ $ (6,534) ​ $ (14,339) Gain (loss) recognized in other comprehensive income (loss) ​ — ​ (1,430) ​ — ​ 1,098 Amount reclassified from accumulated other comprehensive income (loss) to interest expense, net ​ — ​ (558) ​ — ​ (587) ​ Recently Adopted Accounting Pronouncement Contract Assets and Contract Liabilities from Revenue Contracts with Customers in a Business Combination In October 2021, the FASB issued Accounting Standards Update 2021-08, an accounting standard update to improve the accounting for contract assets and contract liabilities from revenue contracts with customers in a business combination (Topic 805). This amendment improves comparability for both the recognition and measurement of acquired revenue contracts with customers at the date of and after a business combination. We adopted the new guidance effective January 1, 2022 using the prospective approach and applied the amendments to the business combinations that occurred during the year ended June 30, 2022 and the nine months ended March 31, 2023. The adoption of ASU 2021-08 did not have a material impact on our consolidated financial statements.

Business Combinations

Business Combinations	9 Months Ended
	Mar. 31, 2023
Business Combinations
Business Combinations	2. Business Combinations Under Accounting Standards Codification Topic 805, Business Combinations Fiscal Year 2023 Business Acquisitions In February 2023, we (through our Healthcare division) acquired a privately held provider of software and solutions for approximately $2.1 million plus up to $5 million in potential contingent consideration. The acquisition was financed with cash on hand. Through our Security division, we acquired (i) in December 2022 certain assets of a provider of baggage and parcel inspection systems for approximately $1.6 million and (ii) in August 2022 a privately held provider of training software and solutions for approximately $1.9 million plus an immaterial amount of potential contingent consideration. These acquisitions were financed with cash on hand. Fiscal Year 2022 Business Acquisitions In February 2022, we (through our Security division) acquired a privately held provider of intelligent inspection, sensory, and recognition solutions for approximately $14 million plus up to $25 million in potential contingent consideration. The acquisition was financed with cash on hand and borrowings under our revolving bank line of credit. ​ We (through our Security division) also acquired in February 2022 a privately held sales and services company for approximately $1.1 million, plus an immaterial amount of potential contingent consideration. The acquisition was financed with cash on hand. ​ These business acquisitions, individually and in aggregate, were not material to our consolidated financial statements. Accordingly, pro forma historical results of operations and other disclosures related to these businesses have not been presented.

Balance Sheet Details

Balance Sheet Details	9 Months Ended
	Mar. 31, 2023
Balance Sheet Details
Balance Sheet Details	3. Balance Sheet Details ​ The following tables set forth details of selected balance sheet accounts (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ March 31, Accounts receivable, net 2022 2023 Accounts receivable ​ $ 326,849 ​ $ 314,121 Less allowance for doubtful accounts ​ (18,876) ​ (13,458) Total ​ $ 307,973 ​ $ 300,663 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ March 31, Inventories 2022 2023 Raw materials ​ $ 213,290 ​ $ 233,458 Work-in-process ​ 46,873 ​ 63,181 Finished goods ​ 73,744 ​ 75,156 Total ​ $ 333,907 ​ $ 371,795 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ March 31, Property and equipment, net 2022 2023 Land ​ $ 15,028 ​ $ 15,676 Buildings, civil works and improvements ​ 47,309 ​ 49,023 Leasehold improvements ​ 11,599 ​ 13,924 Equipment and tooling ​ 128,425 ​ 134,078 Furniture and fixtures ​ 3,592 ​ 3,543 Computer equipment ​ 21,208 ​ 23,061 Computer software ​ 25,153 ​ 26,757 Computer software implementation in process ​ ​ 9,422 ​ ​ 9,344 Construction in process ​ 5,283 ​ 3,894 Total ​ 267,019 ​ 279,300 Less accumulated depreciation and amortization ​ (157,335) ​ (170,161) Property and equipment, net ​ $ 109,684 ​ $ 109,139 ​ Depreciation and amortization expense for property and equipment was $5.4 million and $4.9 million for the three months ended March 31, 2022 and 2023, respectively, and $16.0 million and $14.6 million for the nine months ended March 31, 2022 and 2023, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets
Goodwill and Intangible Assets	4. Goodwill and Intangible Assets ​ The changes in the carrying value of goodwill by segment for the nine-month period ended March 31, 2023 were as follows (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Optoelectronics ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ And ​ ​ ​ ​ ​ Security ​ Healthcare ​ Manufacturing ​ ​ ​ ​ Division Division Division Consolidated Balance as of June 30, 2022 ​ $ 225,555 ​ $ 43,187 ​ $ 67,615 ​ $ 336,357 Goodwill acquired or adjusted during the period ​ 5,659 ​ 5,050 ​ — ​ 10,709 Foreign currency translation adjustment ​ 48 ​ 44 ​ (442) ​ (350) Balance as of March 31, 2023 ​ $ 231,262 ​ $ 48,281 ​ $ 67,173 ​ $ 346,716 ​ Intangible assets consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ March 31, 2023 ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Accumulated ​ Intangibles ​ Carrying ​ Accumulated ​ Intangibles ​ Value Amortization Net Value Amortization Net Amortizable assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Software development costs ​ $ 64,096 ​ $ (18,934) ​ $ 45,162 ​ $ 73,826 ​ $ (19,289) ​ $ 54,537 Patents ​ 8,541 ​ (2,987) ​ 5,554 ​ 8,611 ​ (3,297) ​ 5,314 Developed technology ​ 66,901 ​ (31,071) ​ 35,830 ​ 68,411 ​ (36,487) ​ 31,924 Customer relationships ​ 53,736 ​ (32,785) ​ 20,951 ​ 54,109 ​ (37,114) ​ 16,995 Total amortizable assets ​ 193,274 ​ (85,777) ​ 107,497 ​ 204,957 ​ (96,187) ​ 108,770 Non-amortizable assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ In-process R&D ​ ​ 533 ​ ​ — ​ ​ 533 ​ ​ 533 ​ ​ — ​ ​ 533 Trademarks ​ 30,340 ​ — ​ 30,340 ​ 30,889 ​ — ​ 30,889 Total intangible assets ​ $ 224,147 ​ $ (85,777) ​ $ 138,370 ​ $ 236,379 ​ $ (96,187) ​ $ 140,192 ​ Amortization expense related to intangible assets was $4.4 million and $4.8 million for the three months ended March 31, 2022 and 2023, respectively. For the nine months ended March 31, 2022 and 2023, amortization expense related to intangible assets was $13.0 million and $14.2 million, respectively. ​ At March 31, 2023, the estimated future amortization expense for intangible assets was as follows (in thousands): ​ Fiscal Year ​ ​ ​ ​ ​ 2023 (remaining 3 months) $ 4,820 2024 ​ 19,076 2025 ​ 15,950 2026 ​ 12,614 2027 ​ ​ 8,731 Thereafter ​ 47,579 Total ​ $ 108,770 ​ Software development costs for software products incurred before establishing technological feasibility are charged to operations. Software development costs incurred after establishing technological feasibility are capitalized on a product-by-product basis until the product is available for general release to customers at which time amortization begins. Annual amortization, charged to cost of goods sold, is the amount computed using the ratio that current revenues for a product bear to the total current and anticipated future revenues for that product. In the event that future revenues are not estimable, such costs are amortized on a straight-line basis over the remaining estimated economic life of the product. Amortizable assets that have not yet begun to be amortized are included in Thereafter in the table above. For the three months ended March 31, 2022 and 2023, we capitalized software development costs in the amounts of $4.0 million and $4.1 million, respectively. For the nine months ended March 31, 2022 and 2023, we capitalized software development costs in the amounts of $11.7 million and $12.0 million, respectively.

Contract Assets and Liabilities

Contract Assets and Liabilities	9 Months Ended
	Mar. 31, 2023
Contract Assets and Liabilities
Contract Assets and Liabilities	5. Contract Assets and Liabilities ​ We enter into contracts to sell products and provide services, and we recognize contract assets and liabilities that arise from these transactions. We recognize revenue and corresponding accounts receivable according to ASC Topic 606, Revenue from Contracts with Customers ​ The table below shows the balance of contract assets and liabilities as of June 30, 2022 and March 31, 2023, including the change between the periods. There were no substantial non-current contract assets for the periods presented. Contract Assets (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, March 31, ​ ​ ​ ​ 2022 2023 Change % Change Unbilled revenue (included in accounts receivable, net) ​ $ 43,287 ​ $ 67,769 ​ $ 24,482 57 % Contract Liabilities (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, March 31, ​ ​ ​ 2022 2023 Change % Change ​ Advances from customers ​ $ 19,917 ​ $ 33,841 ​ $ 13,924 ​ 70 % Deferred revenue—current ​ 31,396 ​ 44,447 ​ 13,051 ​ 42 % Deferred revenue—long-term ​ 20,476 ​ 21,928 ​ 1,452 ​ 7 % ​ Contract assets increased during the nine months ended March 31, 2023 primarily due to satisfaction of performance obligations for aviation, cargo and vehicle inspection customers in our Security division which have not yet been billed. The overall increase in contract liabilities was primarily due to receipt of upfront deposits from customers and deferred revenue from receipt of payments under service and warranty contracts primarily in our Security division. ​ Remaining Performance Obligations ​ Practical Expedients.

Leases

Leases	9 Months Ended
	Mar. 31, 2023
Leases
Leases	6. Leases ​ The components of operating lease expense were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, Nine Months Ended March 31, ​ 2022 2023 ​ 2022 2023 Operating lease cost ​ $ 2,704 ​ $ 2,850 ​ $ 7,354 ​ $ 8,525 Variable lease cost ​ ​ 263 ​ ​ 328 ​ 650 ​ 1,055 Short-term lease cost ​ ​ 268 ​ ​ 261 ​ 854 ​ 685 ​ ​ $ 3,235 ​ $ 3,439 ​ $ 8,858 ​ $ 10,265 ​ Supplemental disclosures related to operating leases were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance Sheet Category June 30, 2022 March 31, 2023 ​ Operating lease ROU assets, net Other assets ​ $ 39,461 ​ $ 34,167 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease liabilities, current portion Other accrued expenses and current liabilities ​ $ 9,700 ​ $ 9,830 ​ Operating lease liabilities, long-term Other long-term liabilities ​ 30,363 ​ 25,097 ​ Total operating lease liabilities ​ ​ ​ $ 40,063 ​ $ 34,927 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average remaining lease term ​ ​ ​ ​ ​ 4.7 years ​ Weighted average discount rate ​ ​ ​ ​ ​ 3.7 % ​ Supplemental cash flow information related to operating leases was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended March 31, ​ 2022 2023 Cash paid for operating lease liabilities ​ $ 7,549 ​ $ 8,631 ROU assets obtained in exchange for new lease obligations ​ 9,519 ​ 2,658 ​ Maturities of operating lease liabilities at March 31, 2023 were as follows (in thousands): ​ ​ ​ ​ ​ ​ March 31, 2023 Less than one year ​ $ 11,039 1 – 2 years ​ 9,083 2 – 3 years ​ 7,184 3 – 4 years ​ 6,587 4 – 5 years ​ 3,118 Thereafter ​ 1,449 ​ ​ 38,460 Less: imputed interest ​ (3,533) Total lease liabilities ​ $ 34,927 ​

Impairment, Restructuring and O

Impairment, Restructuring and Other Charges	9 Months Ended
	Mar. 31, 2023
Impairment, Restructuring and Other Charges
Impairment, Restructuring and Other Charges	7. Impairment, Restructuring and Other Charges ​ We endeavor to align our global capacity and infrastructure with demand by our customers as well as fully integrate acquisitions and thereby improve operational efficiency. ​ During the three months ended March 31, 2023, we recognized $0.9 million in restructuring and other charges, which included $0.5 million for employee terminations, $0.3 million in legal charges primarily related to government investigations, and $0.1 million in acquisition-related costs and facility closure costs. During the three months ended March 31, 2022, we recognized $1.5 million in restructuring and other charges, which included $0.8 million in legal charges primarily related to class action litigation and government investigations, $0.4 million for employee terminations , and $0.3 million in acquisition related costs. ​ During the nine months ended March 31, 2023, we recognized $4.4 million in restructuring and other charges, which included $3.2 million in legal charges primarily related to class action litigation and government investigations, $1.0 million for employee terminations, and $0.2 million in acquisition-related costs and facility closure costs. During the nine months ended March 31, 2022, we recognized $4.8 million in restructuring and other charges, which included $3.5 million in legal charges primarily related to class action litigation and government investigations, $1.0 million in employee terminations and $0.3 million in acquisition related costs. The following tables summarize impairment, restructuring and other charges (benefits), net for the periods set forth below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2022 ​ ​ ​ ​ ​ Optoelectronics and ​ ​ ​ ​ ​ ​ ​ ​ ​ Healthcare ​ Manufacturing ​ ​ ​ ​ ​ ​ ​ Security Division Division Division Corporate Total Acquisition-related costs ​ $ 221 ​ $ — ​ $ — ​ $ 56 ​ $ 277 Employee termination costs ​ ​ 409 ​ ​ — ​ ​ — ​ ​ — ​ ​ 409 Facility closures/consolidation ​ ​ 3 ​ ​ — ​ ​ — ​ ​ — ​ ​ 3 Legal costs, net ​ — ​ — ​ — ​ 780 ​ 780 Total ​ $ 633 ​ $ — ​ $ — ​ $ 836 ​ $ 1,469 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ Optoelectronics and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Healthcare ​ Manufacturing ​ ​ ​ ​ ​ ​ ​ Security Division Division Division Corporate Total Acquisition-related costs ​ $ — ​ $ — ​ $ — ​ $ 50 ​ $ 50 Employee termination costs ​ ​ 413 ​ ​ 81 ​ ​ 32 ​ ​ — ​ ​ 526 Facility closures/consolidation ​ ​ 35 ​ ​ — ​ ​ — ​ ​ — ​ ​ 35 Legal costs, net ​ 45 ​ 226 ​ — ​ 8 ​ 279 Total ​ $ 493 ​ $ 307 ​ $ 32 ​ $ 58 ​ $ 890 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended March 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ Optoelectronics and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Healthcare ​ Manufacturing ​ ​ ​ ​ ​ ​ ​ Security Division Division Division Corporate Total Acquisition-related costs ​ $ 221 ​ $ — ​ $ — ​ $ 56 ​ $ 277 Employee termination costs ​ ​ 1,077 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,077 Facility closures/consolidation ​ ​ (37) ​ ​ — ​ ​ — ​ ​ — ​ ​ (37) Legal costs, net ​ — ​ — ​ — ​ 3,493 ​ 3,493 Total ​ $ 1,261 ​ $ — ​ $ — ​ $ 3,549 ​ $ 4,810 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended March 31, 2023 ​ ​ ​ ​ ​ Optoelectronics and ​ ​ ​ ​ ​ ​ ​ ​ ​ Healthcare ​ Manufacturing ​ ​ ​ ​ ​ ​ ​ Security Division Division Division Corporate Total Acquisition-related costs ​ $ 23 ​ $ — ​ $ — ​ $ 127 ​ $ 150 Employee termination costs ​ ​ 688 ​ ​ 291 ​ ​ 47 ​ ​ — ​ ​ 1,026 Facility closures/consolidation ​ ​ 35 ​ ​ — ​ ​ — ​ ​ — ​ ​ 35 Legal costs, net ​ 613 ​ 2,462 ​ — ​ 80 ​ 3,155 Total ​ $ 1,359 ​ $ 2,753 ​ $ 47 ​ $ 207 ​ $ 4,366 ​ The accrued liability for restructuring and other charges is included in other accrued expenses and current liabilities in the condensed consolidated balance sheets. The changes in the accrued liability for restructuring and other charges for the nine-month period ended March 31, 2023 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Facility ​ ​ ​ ​ ​ ​ ​ Acquisition- ​ Employee ​ Closure/ ​ Legal ​ ​ ​ ​ ​ Related ​ Termination ​ Consolidation ​ Costs and ​ ​ ​ ​ Costs Costs Cost Settlements Total Balance as of June 30, 2022 ​ $ — ​ $ 181 ​ $ 23 ​ $ 1,780 ​ $ 1,984 Restructuring and other charges, net ​ 150 ​ 1,026 ​ 35 ​ 3,155 ​ 4,366 Payments, adjustments and reimbursements, net ​ (124) ​ (1,081) ​ 1 ​ (4,896) ​ (6,100) Balance as of March 31, 2023 ​ $ 26 ​ $ 126 ​ $ 59 ​ $ 39 ​ $ 250 ​

Borrowings

Borrowings	9 Months Ended
	Mar. 31, 2023
Borrowings
Borrowings	8. Borrowings ​ Revolving Credit Facility ​ In December 2021, we entered into an amendment to the senior secured credit facility that increased the aggregate amount available to borrow from $535 million to $750 million. The amended facility matures in December 2026 and is comprised of a $600 million revolving credit facility and a $150 million delayed draw term loan. The revolving credit facility includes a $300 million sub-limit for letters of credit. Under certain circumstances and subject to certain conditions, we can increase the revolving credit facility by $250 million plus such amount as would not cause our consolidated secured net leverage ratio to exceed a specified level. Borrowings under the amended facility bore interest at SOFR plus a margin of 1.25% as of March 31, 2023 (which margin can range from 1.0% to 1.75% based on our consolidated net leverage ratio as defined in the credit facility). Letters of credit reduce the amount available to borrow under the credit facility by their face value amount. The unused portion of the facility bore a commitment fee of 0.15% as of March 31, 2023 (which fee can range from 0.10% to 0.25% based on our consolidated net leverage ratio as defined in the credit facility). Our borrowings under the credit agreement are guaranteed by certain of our U.S.-based subsidiaries and are secured by substantially all of our assets and substantially all the assets of certain of our subsidiaries. The credit facility contains various representations and warranties, affirmative, negative and financial covenants and events of default. As of March 31, 2023, there were $215 million of borrowings outstanding under the revolving credit facility, $61.3 million outstanding under the letters of credit sub-facility, and $145 million outstanding under the term loan. As of March 31, 2023, the amount available to borrow under the revolving credit facility was $323.7 million. Loan amounts under the revolving credit facility may be borrowed, repaid and re-borrowed during the term. The principal amount of each loan is due and payable in full on the maturity date. We have the right to repay each loan in whole or in part from time to time without penalty. It is our practice to routinely borrow and repay several times per year under the revolving facility and therefore, borrowings under the revolving credit facility are included in current liabilities. As of March 31, 2023, we were in compliance with all financial covenants under this credit facility. In September 2022, we entered into an interest rate swap in order to mitigate the interest rate risk on a portion of the interest payments expected to be made on the borrowings outstanding under the revolving credit facility and term loan. Refer to Note 1 for details. 1.25% Convertible Senior Notes (“Notes”) Due 2022 ​ In February 2017, we issued $287.5 million of the Notes in a private offering. The Notes were governed by an indenture dated February 22, 2017. The maturity date for the payment of principal was September 1, 2022. The Notes bore interest at the rate of 1.25% and were payable in cash semiannually in arrears on each March 1 and September 1. On September 1, 2022, we repurchased for cash and cancelled the then-remaining $242.3 million balance of the Notes utilizing proceeds from the senior secured credit facility. ​ Issuance costs of $7.7 million were allocated between debt ($6.5 million) and equity ($1.2 million) components with the portion allocated to the debt presented as an offset against long-term debt in the consolidated balance sheet and was being amortized as interest expense over the life of the Notes using the effective interest method. Total interest expense recognized for the three and nine months ended March 31, 2022 related to the Notes was $1.2 and $3.7 million, respectively, which consisted of $0.9 million and $2.7 million of contractual interest expense and $0.3 million and $1.0 million of amortization of debt issuance costs. Total interest expense recognized for the three and nine months ended March 31, 2023 related to the Notes was nil and $0.7 million, respectively, which consisted of $0.5 million of contractual interest expense and $0.2 million of amortization of debt issuance costs. Other Borrowings ​ Several of our foreign subsidiaries maintain bank lines of credit, denominated in local currencies and U.S. dollars, primarily for the issuance of letters of credit. As of March 31, 2023, $50.1 million was outstanding under these letter-of-credit facilities. As of March 31, 2023, the total amount available under these credit facilities was $27.7 million. ​ Long-term debt consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ March 31, ​ 2022 2023 1.25% convertible notes due September 1, 2022: ​ ​ ​ ​ ​ ​ Principal amount ​ $ 242,302 ​ $ — Unamortized debt issuance costs ​ ​ (196) ​ ​ — ​ ​ ​ 242,106 ​ ​ — Term loan ​ ​ 50,000 ​ ​ 145,000 Other long-term debt ​ 1,137 ​ 1,270 ​ ​ 293,243 ​ 146,270 Less current portion of long-term debt ​ (244,575) ​ (8,080) Long-term portion of debt ​ $ 48,668 ​ $ 138,190 ​

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Mar. 31, 2023
Stockholders' Equity
Stockholders' Equity	9. Stockholders’ Equity ​ Stock-based Compensation ​ As of March 31, 2023, we maintained the Amended and Restated 2012 Incentive Award Plan (the “OSI Plan”) as a stock-based employee compensation plan. ​ We recorded stock-based compensation expense in the consolidated statements of operations as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, Nine Months Ended March 31, ​ 2022 2023 ​ 2022 2023 Cost of goods sold ​ $ 205 ​ $ 229 ​ $ 616 ​ $ 686 Selling, general and administrative ​ ​ 6,567 ​ ​ 6,757 ​ 19,977 ​ 20,467 Research and development ​ ​ 126 ​ ​ 126 ​ 393 ​ 375 Stock-based compensation expense ​ $ 6,898 ​ $ 7,112 ​ $ 20,986 ​ $ 21,528 ​ As of March 31, 2023, total unrecognized compensation costs related to share-based compensation grants under the OSI Plan were estimated at $0.8 million for stock options and $20.6 million for restricted stock units (“RSUs”). We expect to recognize these costs over a weighted average period of 2.2 years with respect to the stock options and 1.8 years with respect to the RSUs. ​ The following summarizes stock option activity during the nine months ended March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ Weighted-Average ​ Aggregate ​ ​ Number of ​ Exercise ​ Remaining Contractual ​ Intrinsic Value ​ Options Price Term (in thousands) Outstanding at June 30, 2022 110,645 ​ 82.43 ​ ​ ​ ​ Granted 23,351 ​ ​ 87.90 ​ ​ ​ ​ ​ Exercised (19,614) ​ ​ 67.83 ​ ​ ​ ​ ​ Expired or forfeited (1,568) ​ ​ 81.60 ​ ​ ​ ​ ​ Outstanding at March 31, 2023 112,814 ​ ​ 86.11 ​ 6.8 years ​ $ 1,833 Exercisable at March 31, 2023 ​ 67,689 ​ ​ ​ 5.4 years ​ $ 1,274 ​ The following summarizes RSU award activity during the nine months ended March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ Average ​ Shares Fair Value Nonvested at June 30, 2022 427,447 ​ $ 90.17 Granted 356,694 ​ ​ 89.11 Vested (312,038) ​ ​ 96.42 Forfeited (13,814) ​ ​ 88.82 Nonvested at March 31, 2023 458,289 ​ $ 85.13 ​ As of March 31, 2023, there were approximately 0.8 million shares available for grant under the OSI Plan. Under the terms of the OSI Plan, RSUs and restricted stock granted from the pool of shares available for grant reduce the pool by 1.87 shares for each award granted. RSUs and restricted stock forfeited and returned to the pool of shares available for grant increase the pool by 1.87 shares for each award forfeited. ​ We granted 96,620 and 110,811 performance-based RSUs during the nine months ended March 31, 2022 and 2023, respectively. These performance-based RSU awards are contingent on the achievement of certain performance metrics. The payout related to these awards can range from zero to 376% of the original number of shares or units awarded. Compensation cost associated with these performance-based RSUs are recognized based on the estimated number of shares that we ultimately expect will vest. If the estimated number of shares to vest is revised in the future, then stock-based compensation expense will be adjusted accordingly. ​ Employee Stock Purchase Plan ​ We have an employee stock purchase plan under which eligible employees may purchase a limited number of shares of common stock at a discount of up to 15% of the market value of such stock at pre-determined, plan-defined dates. During the nine months ended March 31, 2022 and 2023, employees purchased 60,605 and 59,255 shares, respectively. As of March 31, 2023, there were 417,972 shares of our common stock available for issuance under the plan. ​ Stock Repurchase Program ​ In September 2022, our Board of Directors increased the stock repurchase authorization to a total of 2 million shares. This program does not expire unless our Board of Directors acts to terminate the program. The timing and actual numbers of shares purchased depend on a variety of factors, including stock price, general business and market conditions and other investment opportunities. Repurchases may be made from time to time under the program through open-market purchases or privately negotiated transactions at our discretion. Upon repurchase, the shares are restored to the status of authorized but unissued shares, and we record them in our consolidated financial statements as a reduction in the number of shares of common stock issued and outstanding, with the excess purchase price over par value recorded as a reduction of additional paid-in capital. If additional paid-in capital is reduced to zero, we record the remainder of the excess purchase price over par value as a reduction of retained earnings. ​ During the nine months ended March 31, 2022 and 2023, we repurchased 1,117,258 and 400,230 shares of our common stock, respectively. As of March 31, 2023, there were 1,721,870 shares remaining available for repurchase under the authorized repurchase program. ​ Dividends ​ We have not paid any cash dividends since the consummation of our initial public offering in 1997 and we do not currently intend to pay any cash dividends in the foreseeable future. Our Board of Directors will determine the payment of future cash dividends, if any. Certain of our current bank credit facilities restrict the payment of cash dividends and future borrowings may contain similar restrictions.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Mar. 31, 2023
Commitments and Contingencies
Commitments and Contingencies	10. Commitments and Contingencies ​ Acquisition-Related Contingent Obligations ​ Under the terms and conditions of the purchase agreements associated with certain acquisitions, we may be obligated to make additional payments based on the achievement of certain sales or profitability milestones through the acquired operations. For agreements that contain contingent consideration obligations that are capped, the remaining maximum amount of such potential future payments is $54.4 million as of March 31, 2023. ​ We account for such contingent payments for acquisitions which occurred through the end of fiscal year 2009 as additions to the purchase price of the acquired business. We made contingent payments relating to such acquisitions of $0.3 million and $1.7 million, respectively, during the three and nine months ended March 31, 2022 and $1.2 million and $3.7 million, respectively, during the three and nine months ended March 31, 2023. For acquisitions completed after fiscal 2009, pursuant to ASC 805, the estimated fair value of these obligations is recorded as a liability at the time of the acquisition with subsequent revisions recorded in Selling, general and administrative expense in the consolidated financial statements. The estimated fair value measurements of contingent earnout obligations are primarily based on unobservable inputs, which may include projected revenues, gross margins, operating income and the estimated probability of achieving the earnouts. ​ These projections and probabilities are used to estimate future contingent earnout payments, which are discounted back to present value to compute contingent earnout liabilities. The following table provides a roll-forward from June 30, 2022 to March 31, 2023 of the contingent consideration liability, which is included in other accrued expenses and current liabilities and other long-term liabilities in our consolidated balance sheets (in thousands): ​ ​ ​ ​ ​ Beginning fair value, June 30, 2022 $ 28,212 Addition of contingent earnout obligations ​ ​ 3,267 Foreign currency translation adjustment ​ ​ (25) Changes in fair value for contingent earnout obligations ​ (11,164) Payments on contingent earnout obligations ​ (230) Ending fair value, March 31, 2023 ​ $ 20,060 ​ Environmental Contingencies ​ We are subject to various environmental laws. We conduct environmental investigations at our manufacturing facilities in North America, Asia-Pacific, and Europe, and, to the extent practicable, on all new properties to identify, as of the date of such investigation, potential areas of environmental concern related to past and present activities or from nearby operations. In certain cases, we have conducted further environmental assessments consisting of soil and groundwater testing and other investigations deemed appropriate by independent environmental consultants. ​ We have not accrued for loss contingencies relating to environmental matters because we believe that, although unfavorable outcomes are possible, they are not considered by our management to be probable and reasonably estimable. If one or more of these environmental matters are resolved in a manner adverse to us, the impact on our business, financial condition, results of operations and cash flow could be material. ​ Indemnifications and Certain Employment-Related Contingencies ​ In the normal course of business, we have agreed to indemnify certain parties with respect to certain matters. We have agreed to hold certain parties harmless against losses arising from breaches of representations, warranties or covenants, or intellectual property infringement or other claims made by third parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. In addition, we have entered into indemnification agreements with our directors and certain of our officers. It is not possible to determine the maximum potential liability amount under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. We have not recorded any liability for costs related to contingent indemnification obligations as of March 31, 2023. ​ On December 31, 2017, we and Deepak Chopra, our Chief Executive Officer, entered into an amendment to Mr. Chopra’s employment agreement that, among other things, provides for a $13.5 million bonus payment to Mr. Chopra on or within 45 days of January 1, 2024 contingent upon Mr. Chopra’s continued employment with us through that date, subject to accelerated payout terms in the event of Mr. Chopra’s death or disability. The bonus is included in accrued payroll and related expenses at March 31, 2023 and other long-term liabilities at June 30, 2022. ​ Product Warranties ​ We offer our customers warranties on many of the products that we sell. These warranties typically provide for repairs and maintenance of the products if problems arise during a specified time period after original shipment. Concurrent with the sale of products, we record a provision for estimated warranty expenses with a corresponding increase in cost of goods sold. We periodically adjust this provision based on historical experience and anticipated expenses. We charge actual expenses of repairs under warranty, including parts and labor, to this provision when incurred. The current obligation for warranty provision is included in other accrued expenses and current liabilities and the noncurrent portion is included in other long-term liabilities in the consolidated balance sheets. ​ The following table presents changes in warranty provisions (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended March 31, ​ 2022 2023 Balance at beginning of period ​ $ 19,736 ​ $ 13,347 Additions ​ ​ 2,292 ​ ​ 2,622 Reductions for warranty repair costs and adjustments ​ (7,191) ​ (5,831) Balance at end of period ​ $ 14,837 ​ $ 10,138 ​ Legal Proceedings ​ We are involved in various claims and legal proceedings arising in the ordinary course of business. In our opinion after consultation with legal counsel, the ultimate disposition of such proceedings is not likely to have a material adverse effect on our business, financial condition, results of operations or cash flows. We have not accrued for loss contingencies relating to any such matters because we believe that, although unfavorable outcomes in the proceedings are possible, they are not considered by management to be probable and reasonably estimable. If one or more of these matters are resolved in a manner adverse to our company, the impact on our business, financial condition, results of operations and cash flows could be material.

Income Taxes

Income Taxes	9 Months Ended
	Mar. 31, 2023
Income Taxes
Income Taxes	11. Income Taxes ​ The determination of the annual effective tax rate is based upon a number of significant estimates and judgments, including the estimated annual pretax income in each tax jurisdiction in which we operate and the development of tax planning strategies during the year. In addition, as a global commercial enterprise, our tax expense can be impacted by changes in tax rates or laws, the finalization of tax audits and reviews and other factors that cannot be predicted with certainty. As such, there can be significant volatility in interim tax provisions. ​ The effective tax rates for the three months ended March 31, 2022 and 2023 were 20.1% and 23.8%, respectively. During the three-month period ended March 31, 2023, we recognized a net discrete tax expense of $0.2 million related to equity-based compensation under ASU 2016-09 and changes in prior year tax estimates. During the three-month period ended March 31, 2022, we recognized a net discrete tax benefit of $0.2 million related to equity-based compensation under ASU 2016-09 and changes in prior year tax estimates. The effective tax rate for the nine months ended March 31, 2022 and 2023 was 20.8% and 22.6%, respectively. During the nine months ended March 31, 2023, we recognized a net discrete tax benefit of $0.6 million related to equity-based compensation under ASU 2016-09 and changes in prior year tax estimates .

Segment Information

Segment Information	9 Months Ended
	Mar. 31, 2023
Segment Information
Segment Information	12. Segment Information ​ We have determined that we operate in three identifiable industry segments: (a) security and inspection systems (Security division), (b) medical monitoring systems (Healthcare division) and (c) optoelectronic devices and manufacturing (Optoelectronics and Manufacturing division). We also have a corporate segment (Corporate) that includes executive compensation and certain other general and administrative expenses, expenses related to stock issuances and legal, audit and other professional service fees not allocated to industry segments. Both the Security and Healthcare divisions comprise primarily end-product businesses, whereas the Optoelectronics and Manufacturing division primarily supplies components and subsystems to external OEM customers, as well as to the Security and Healthcare divisions. Sales between divisions are at transfer prices that approximate market values. All other accounting policies for the segments are the same as described in Note 1, Basis of Presentation. ​ The following tables present our results of operations and identifiable assets by industry segment (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ March 31, ​ March 31, ​ 2022 2023 2022 2023 Revenues (1)—by Segment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Security division ​ $ 158,644 ​ $ 178,752 ​ $ 454,079 ​ $ 491,188 Healthcare division ​ ​ 52,178 ​ ​ 43,911 ​ ​ 155,191 ​ ​ 130,994 Optoelectronics and Manufacturing division, including intersegment revenues ​ ​ 92,122 ​ ​ 93,888 ​ ​ 275,917 ​ ​ 286,513 Intersegment revenues elimination ​ ​ (12,467) ​ ​ (13,662) ​ ​ (38,772) ​ ​ (42,138) Total ​ $ 290,477 ​ $ 302,889 ​ $ 846,415 ​ $ 866,557 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income (loss) from operations —by Segment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Security division ​ $ 20,559 ​ $ 29,496 ​ $ 60,323 ​ $ 66,014 Healthcare division ​ ​ 7,480 ​ ​ 1,787 ​ ​ 20,430 ​ ​ 4,819 Optoelectronics and Manufacturing division ​ ​ 11,177 ​ ​ 12,493 ​ ​ 34,342 ​ ​ 35,963 Corporate ​ ​ (10,729) ​ ​ (10,148) ​ ​ (32,855) ​ ​ (29,572) Intersegment eliminations ​ ​ (61) ​ ​ 709 ​ ​ (48) ​ ​ 904 Total ​ $ 28,426 ​ $ 34,337 ​ $ 82,192 ​ $ 78,128 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ March 31, ​ 2022 2023 Assets (2)—by Segment: ​ ​ ​ ​ ​ ​ Security division ​ $ 839,769 ​ $ 877,618 Healthcare division ​ 231,423 ​ 244,825 Optoelectronics and Manufacturing division ​ 301,483 ​ 310,851 Corporate ​ 104,834 ​ 94,428 Eliminations (3) ​ (34,359) ​ (44,419) Total ​ $ 1,443,150 ​ $ 1,483,303 (1) (2) (3) ​

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Mar. 31, 2023
Basis of Presentation
Basis of Presentation	1. Basis of Presentation The condensed consolidated financial statements include the accounts of OSI Systems, Inc. and our subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. The condensed consolidated financial statements have been prepared by management in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in conjunction with the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures required for annual financial statements have been condensed or excluded in accordance with SEC rules and regulations and GAAP applicable to interim unaudited financial statements. Accordingly, the condensed consolidated financial statements do not include all of the information and footnotes required by GAAP for audited annual financial statements. In the opinion of management, the condensed consolidated financial statements reflect all adjustments of a normal and recurring nature that are considered necessary for a fair presentation of the results for the interim periods presented. These unaudited condensed consolidated financial statements and the accompanying notes should be read in conjunction with the audited consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2022 filed with the SEC. There have been no material changes to our significant accounting policies from those disclosed therein. The accompanying condensed consolidated balance sheet as of June 30, 2022 was derived from the Company's audited consolidated financial statements at that date. The results of operations for the three and nine months ended March 31, 2023 are not necessarily indicative of the operating results to be expected for the full 2023 fiscal year or any future periods. ​
Use of Estimates	Use of Estimates ​ The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of sales, costs of sales and expenses during the reporting period. The most significant of these estimates and assumptions for our company relate to contract revenue, fair values of assets acquired and liabilities assumed in business combinations, values for inventories reported at lower of cost or net realizable value, stock-based compensation expense, income taxes, accrued warranty costs, and the recoverability, useful lives and valuation of recorded amounts of long-lived assets, identifiable intangible assets and goodwill. Changes in estimates are reflected in the periods during which they become known. Due to the inherent uncertainty involved in making estimates, our actual amounts reported in future periods could differ materially from these estimates. ​
Earnings Per Share Computations	Earnings Per Share Computations ​ We compute basic earnings per share by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. We compute diluted earnings per share by dividing net income available to common stockholders by the sum of the weighted average number of common shares and dilutive potential common shares outstanding during the period. Potential common shares consist of the shares issuable upon the exercise of stock options and restricted stock unit awards under the treasury stock method. ​ The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, Nine Months Ended March 31, ​ ​ 2022 2023 2022 2023 Net income available to common stockholders ​ $ 42,735 ​ $ 21,808 ​ $ 81,584 ​ $ 49,397 Weighted average shares outstanding—basic ​ 17,417 ​ 16,809 ​ 17,734 ​ 16,858 Dilutive effect of equity awards ​ 292 ​ 375 ​ 302 ​ 293 Weighted average shares outstanding—diluted ​ 17,709 ​ 17,184 ​ 18,036 ​ 17,151 Basic earnings per share ​ $ 2.45 ​ $ 1.30 ​ $ 4.60 ​ $ 2.93 Diluted earnings per share ​ $ 2.41 ​ $ 1.27 ​ $ 4.52 ​ $ 2.88 Shares excluded from diluted earnings per share due to their anti-dilutive effect ​ ​ 211 ​ ​ 60 ​ ​ 62 ​ ​ 75 ​
Cash and Cash Equivalents	Cash and Cash Equivalents ​ We consider all highly liquid investments with maturities of three months or less as of the acquisition date to be cash equivalents. Our cash and cash equivalents totaled $65.6 million at March 31, 2023. Of this amount, approximately 81% was held by our foreign subsidiaries and subject to repatriation tax considerations. These foreign funds were held primarily by our subsidiaries in the United Kingdom, India, Singapore, Malaysia and Canada, and to a lesser extent in Mexico, Indonesia, Albania and Australia. We have cash holdings in financial institutions that exceed insured limits for such financial institutions; we mitigate this risk, however, by utilizing international financial institutions of high credit quality. ​
Fair Value of Financial Instruments	Fair Value of Financial Instruments ​ Our financial instruments consist primarily of cash and cash equivalents, insurance company contracts, accounts receivable, accounts payable, debt instruments, an interest rate swap contract and foreign currency forward contracts. The carrying values of financial instruments, other than long-term debt instruments and the interest rate swap contract, are representative of their fair values due to their short-term maturities. The carrying values of our long-term debt instruments are considered to approximate their fair values because the interest rates of these instruments are variable or comparable to current rates for financing available to us. The fair values of our foreign currency forward contracts were not significant as of June 30, 2022 and March 31, 2023. ​ Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Level 1 category includes assets and liabilities measured at quoted prices in active markets for identical assets and liabilities. The Level 2 category includes assets and liabilities measured from observable inputs other than quoted market prices. The Level 3 category includes assets and liabilities for which valuation inputs are unobservable and significant to the fair value measurement. Our contingent payment obligations related to acquisitions, which are further discussed in Note 10 to the condensed consolidated financial statements, are in the Level 3 category for valuation purposes. ​ The fair values of our financial assets and liabilities are categorized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 March 31, 2023 ​ Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets—Insurance company contracts ​ $ — ​ $ 40,284 ​ $ — ​ $ 40,284 ​ $ — ​ $ 43,471 ​ $ — ​ $ 43,471 Assets – Interest rate swap contract ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,641 ​ $ — ​ $ 1,641 Liabilities—Convertible debt ​ $ — ​ $ 242,302 ​ $ — ​ $ 242,302 ​ $ — ​ $ — ​ $ — ​ $ — Liabilities—Contingent consideration ​ $ — ​ $ — ​ $ 28,212 ​ $ 28,212 ​ $ — ​ $ — ​ $ 20,060 ​ $ 20,060 ​
Derivative Instruments and Hedging Activity	Derivative Instruments and Hedging Activity ​ Our use of derivatives consists of foreign currency forward contracts and an interest rate swap agreement. The foreign currency forward contracts are utilized to partially mitigate certain balance sheet exposures or used as a net investment hedge to protect against potential changes resulting from short-term foreign currency fluctuations. These contracts have original maturities of up to three months. We also manage our risk to changes in interest rates using derivative instruments. We use fixed interest rate swaps to effectively convert a portion of the variable interest rate payments to fixed interest rate payments. We do not use hedging instruments for speculative purposes. ​ The net gains or losses from our foreign currency forward contracts, which are not designated as hedge instruments, are reported in the consolidated statements of operations. The amounts reported in the consolidated statements of operations for the three and nine months ended March 31, 2022 and 2023 were not significant. The fair value of our foreign currency forward contracts is estimated using a standard valuation model and market-based observable inputs over the contractual term. Unrealized gains are recognized as assets and unrealized losses are recognized as liabilities. As of June 30, 2022 and March 31, 2023, we held foreign currency forward contracts with notional amounts totaling $22.9 million and $19.8 million, respectively. Unrealized gains and losses from our foreign currency forward contracts as of March 31, 2022 and 2023 were not significant. The interest rate swap agreement was entered into to improve the predictability of cash flows from interest payments related to our variable, Secured Overnight Financing Rate (“SOFR”) based debt. The interest rate swap matures in December 2026. The interest rate swap is considered an effective cash flow hedge, and as a result, the net gains or losses on such instrument are reported as a component of other comprehensive income (loss) in the consolidated financial statements and are reclassified as net income when the underlying hedged interest impacts earnings. A qualitative and quantitative assessment over the hedge effectiveness is performed on a quarterly basis, unless facts and circumstances indicate that the hedge may no longer be highly effective. As of June 30, 2022 and March 31, 2023, the notional amount of the derivative instruments designated as an interest rate swap hedge was $0 and $175 million, respectively. The fair value of the interest rate swap contract as of March 31, 2023 was $1.6 million and is recorded in Other assets within the condensed consolidated balance sheet. The effect of the cash flow hedges on other comprehensive income (loss) and earnings for the periods presented was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, Nine Months Ended March 31, ​ ​ 2022 2023 ​ 2022 2023 Total interest and other expense, net presented in the condensed consolidated statements of operations in which the effects of cash flow hedges are recorded ​ $ (2,301) ​ $ (5,727) ​ $ (6,534) ​ $ (14,339) Gain (loss) recognized in other comprehensive income (loss) ​ — ​ (1,430) ​ — ​ 1,098 Amount reclassified from accumulated other comprehensive income (loss) to interest expense, net ​ — ​ (558) ​ — ​ (587) ​
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncement Contract Assets and Contract Liabilities from Revenue Contracts with Customers in a Business Combination In October 2021, the FASB issued Accounting Standards Update 2021-08, an accounting standard update to improve the accounting for contract assets and contract liabilities from revenue contracts with customers in a business combination (Topic 805). This amendment improves comparability for both the recognition and measurement of acquired revenue contracts with customers at the date of and after a business combination. We adopted the new guidance effective January 1, 2022 using the prospective approach and applied the amendments to the business combinations that occurred during the year ended June 30, 2022 and the nine months ended March 31, 2023. The adoption of ASU 2021-08 did not have a material impact on our consolidated financial statements.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	9 Months Ended
	Mar. 31, 2023
Basis of Presentation
Schedule of computation of basic and diluted earnings per share	​ The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, Nine Months Ended March 31, ​ ​ 2022 2023 2022 2023 Net income available to common stockholders ​ $ 42,735 ​ $ 21,808 ​ $ 81,584 ​ $ 49,397 Weighted average shares outstanding—basic ​ 17,417 ​ 16,809 ​ 17,734 ​ 16,858 Dilutive effect of equity awards ​ 292 ​ 375 ​ 302 ​ 293 Weighted average shares outstanding—diluted ​ 17,709 ​ 17,184 ​ 18,036 ​ 17,151 Basic earnings per share ​ $ 2.45 ​ $ 1.30 ​ $ 4.60 ​ $ 2.93 Diluted earnings per share ​ $ 2.41 ​ $ 1.27 ​ $ 4.52 ​ $ 2.88 Shares excluded from diluted earnings per share due to their anti-dilutive effect ​ ​ 211 ​ ​ 60 ​ ​ 62 ​ ​ 75 ​
Schedule of fair values of our financial assets and liabilities	The fair values of our financial assets and liabilities are categorized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 March 31, 2023 ​ Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets—Insurance company contracts ​ $ — ​ $ 40,284 ​ $ — ​ $ 40,284 ​ $ — ​ $ 43,471 ​ $ — ​ $ 43,471 Assets – Interest rate swap contract ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,641 ​ $ — ​ $ 1,641 Liabilities—Convertible debt ​ $ — ​ $ 242,302 ​ $ — ​ $ 242,302 ​ $ — ​ $ — ​ $ — ​ $ — Liabilities—Contingent consideration ​ $ — ​ $ — ​ $ 28,212 ​ $ 28,212 ​ $ — ​ $ — ​ $ 20,060 ​ $ 20,060 ​
Summary of effect of the cash flow hedges on other comprehensive income (loss) and earnings	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, Nine Months Ended March 31, ​ ​ 2022 2023 ​ 2022 2023 Total interest and other expense, net presented in the condensed consolidated statements of operations in which the effects of cash flow hedges are recorded ​ $ (2,301) ​ $ (5,727) ​ $ (6,534) ​ $ (14,339) Gain (loss) recognized in other comprehensive income (loss) ​ — ​ (1,430) ​ — ​ 1,098 Amount reclassified from accumulated other comprehensive income (loss) to interest expense, net ​ — ​ (558) ​ — ​ (587) ​

Balance Sheet Details (Tables)

Balance Sheet Details (Tables)	9 Months Ended
	Mar. 31, 2022
Balance Sheet Details
Schedule of selected balance sheet accounts	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ March 31, Accounts receivable, net 2022 2023 Accounts receivable ​ $ 326,849 ​ $ 314,121 Less allowance for doubtful accounts ​ (18,876) ​ (13,458) Total ​ $ 307,973 ​ $ 300,663 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ March 31, Inventories 2022 2023 Raw materials ​ $ 213,290 ​ $ 233,458 Work-in-process ​ 46,873 ​ 63,181 Finished goods ​ 73,744 ​ 75,156 Total ​ $ 333,907 ​ $ 371,795 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ March 31, Property and equipment, net 2022 2023 Land ​ $ 15,028 ​ $ 15,676 Buildings, civil works and improvements ​ 47,309 ​ 49,023 Leasehold improvements ​ 11,599 ​ 13,924 Equipment and tooling ​ 128,425 ​ 134,078 Furniture and fixtures ​ 3,592 ​ 3,543 Computer equipment ​ 21,208 ​ 23,061 Computer software ​ 25,153 ​ 26,757 Computer software implementation in process ​ ​ 9,422 ​ ​ 9,344 Construction in process ​ 5,283 ​ 3,894 Total ​ 267,019 ​ 279,300 Less accumulated depreciation and amortization ​ (157,335) ​ (170,161) Property and equipment, net ​ $ 109,684 ​ $ 109,139 ​

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets
Schedule of changes in the carrying value of goodwill by segment	The changes in the carrying value of goodwill by segment for the nine-month period ended March 31, 2023 were as follows (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Optoelectronics ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ And ​ ​ ​ ​ ​ Security ​ Healthcare ​ Manufacturing ​ ​ ​ ​ Division Division Division Consolidated Balance as of June 30, 2022 ​ $ 225,555 ​ $ 43,187 ​ $ 67,615 ​ $ 336,357 Goodwill acquired or adjusted during the period ​ 5,659 ​ 5,050 ​ — ​ 10,709 Foreign currency translation adjustment ​ 48 ​ 44 ​ (442) ​ (350) Balance as of March 31, 2023 ​ $ 231,262 ​ $ 48,281 ​ $ 67,173 ​ $ 346,716 ​
Schedule of intangible assets	Intangible assets consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ March 31, 2023 ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Accumulated ​ Intangibles ​ Carrying ​ Accumulated ​ Intangibles ​ Value Amortization Net Value Amortization Net Amortizable assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Software development costs ​ $ 64,096 ​ $ (18,934) ​ $ 45,162 ​ $ 73,826 ​ $ (19,289) ​ $ 54,537 Patents ​ 8,541 ​ (2,987) ​ 5,554 ​ 8,611 ​ (3,297) ​ 5,314 Developed technology ​ 66,901 ​ (31,071) ​ 35,830 ​ 68,411 ​ (36,487) ​ 31,924 Customer relationships ​ 53,736 ​ (32,785) ​ 20,951 ​ 54,109 ​ (37,114) ​ 16,995 Total amortizable assets ​ 193,274 ​ (85,777) ​ 107,497 ​ 204,957 ​ (96,187) ​ 108,770 Non-amortizable assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ In-process R&D ​ ​ 533 ​ ​ — ​ ​ 533 ​ ​ 533 ​ ​ — ​ ​ 533 Trademarks ​ 30,340 ​ — ​ 30,340 ​ 30,889 ​ — ​ 30,889 Total intangible assets ​ $ 224,147 ​ $ (85,777) ​ $ 138,370 ​ $ 236,379 ​ $ (96,187) ​ $ 140,192 ​
Schedule of estimated future amortization expense for intangible assets	At March 31, 2023, the estimated future amortization expense for intangible assets was as follows (in thousands): ​ Fiscal Year ​ ​ ​ ​ ​ 2023 (remaining 3 months) $ 4,820 2024 ​ 19,076 2025 ​ 15,950 2026 ​ 12,614 2027 ​ ​ 8,731 Thereafter ​ 47,579 Total ​ $ 108,770 ​

Contract Assets and Liabiliti_2

Contract Assets and Liabilities (Tables)	9 Months Ended
	Mar. 31, 2023
Contract Assets and Liabilities
Schedule of contract assets and contract liabilities	Contract Assets (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, March 31, ​ ​ ​ ​ 2022 2023 Change % Change Unbilled revenue (included in accounts receivable, net) ​ $ 43,287 ​ $ 67,769 ​ $ 24,482 57 % Contract Liabilities (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, March 31, ​ ​ ​ 2022 2023 Change % Change ​ Advances from customers ​ $ 19,917 ​ $ 33,841 ​ $ 13,924 ​ 70 % Deferred revenue—current ​ 31,396 ​ 44,447 ​ 13,051 ​ 42 % Deferred revenue—long-term ​ 20,476 ​ 21,928 ​ 1,452 ​ 7 % ​

Leases (Tables)

Leases (Tables)	9 Months Ended
	Mar. 31, 2023
Leases
Schedule of components of operating lease expense	The components of operating lease expense were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, Nine Months Ended March 31, ​ 2022 2023 ​ 2022 2023 Operating lease cost ​ $ 2,704 ​ $ 2,850 ​ $ 7,354 ​ $ 8,525 Variable lease cost ​ ​ 263 ​ ​ 328 ​ 650 ​ 1,055 Short-term lease cost ​ ​ 268 ​ ​ 261 ​ 854 ​ 685 ​ ​ $ 3,235 ​ $ 3,439 ​ $ 8,858 ​ $ 10,265 ​
Schedule of supplemental disclosures related to operating leases	Supplemental disclosures related to operating leases were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance Sheet Category June 30, 2022 March 31, 2023 ​ Operating lease ROU assets, net Other assets ​ $ 39,461 ​ $ 34,167 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease liabilities, current portion Other accrued expenses and current liabilities ​ $ 9,700 ​ $ 9,830 ​ Operating lease liabilities, long-term Other long-term liabilities ​ 30,363 ​ 25,097 ​ Total operating lease liabilities ​ ​ ​ $ 40,063 ​ $ 34,927 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average remaining lease term ​ ​ ​ ​ ​ 4.7 years ​ Weighted average discount rate ​ ​ ​ ​ ​ 3.7 % ​
Schedule of supplemental cash flow information related to operating leases	Supplemental cash flow information related to operating leases was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended March 31, ​ 2022 2023 Cash paid for operating lease liabilities ​ $ 7,549 ​ $ 8,631 ROU assets obtained in exchange for new lease obligations ​ 9,519 ​ 2,658 ​
Schedule of maturities of operating lease liabilities	Maturities of operating lease liabilities at March 31, 2023 were as follows (in thousands): ​ ​ ​ ​ ​ ​ March 31, 2023 Less than one year ​ $ 11,039 1 – 2 years ​ 9,083 2 – 3 years ​ 7,184 3 – 4 years ​ 6,587 4 – 5 years ​ 3,118 Thereafter ​ 1,449 ​ ​ 38,460 Less: imputed interest ​ (3,533) Total lease liabilities ​ $ 34,927

Impairment, Restructuring and_2

Impairment, Restructuring and Other Charges (Tables)	9 Months Ended
	Mar. 31, 2023
Impairment, Restructuring and Other Charges
Schedule of impairment, restructuring and other charges (benefit), net	The following tables summarize impairment, restructuring and other charges (benefits), net for the periods set forth below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2022 ​ ​ ​ ​ ​ Optoelectronics and ​ ​ ​ ​ ​ ​ ​ ​ ​ Healthcare ​ Manufacturing ​ ​ ​ ​ ​ ​ ​ Security Division Division Division Corporate Total Acquisition-related costs ​ $ 221 ​ $ — ​ $ — ​ $ 56 ​ $ 277 Employee termination costs ​ ​ 409 ​ ​ — ​ ​ — ​ ​ — ​ ​ 409 Facility closures/consolidation ​ ​ 3 ​ ​ — ​ ​ — ​ ​ — ​ ​ 3 Legal costs, net ​ — ​ — ​ — ​ 780 ​ 780 Total ​ $ 633 ​ $ — ​ $ — ​ $ 836 ​ $ 1,469 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ Optoelectronics and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Healthcare ​ Manufacturing ​ ​ ​ ​ ​ ​ ​ Security Division Division Division Corporate Total Acquisition-related costs ​ $ — ​ $ — ​ $ — ​ $ 50 ​ $ 50 Employee termination costs ​ ​ 413 ​ ​ 81 ​ ​ 32 ​ ​ — ​ ​ 526 Facility closures/consolidation ​ ​ 35 ​ ​ — ​ ​ — ​ ​ — ​ ​ 35 Legal costs, net ​ 45 ​ 226 ​ — ​ 8 ​ 279 Total ​ $ 493 ​ $ 307 ​ $ 32 ​ $ 58 ​ $ 890 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended March 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ Optoelectronics and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Healthcare ​ Manufacturing ​ ​ ​ ​ ​ ​ ​ Security Division Division Division Corporate Total Acquisition-related costs ​ $ 221 ​ $ — ​ $ — ​ $ 56 ​ $ 277 Employee termination costs ​ ​ 1,077 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,077 Facility closures/consolidation ​ ​ (37) ​ ​ — ​ ​ — ​ ​ — ​ ​ (37) Legal costs, net ​ — ​ — ​ — ​ 3,493 ​ 3,493 Total ​ $ 1,261 ​ $ — ​ $ — ​ $ 3,549 ​ $ 4,810 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended March 31, 2023 ​ ​ ​ ​ ​ Optoelectronics and ​ ​ ​ ​ ​ ​ ​ ​ ​ Healthcare ​ Manufacturing ​ ​ ​ ​ ​ ​ ​ Security Division Division Division Corporate Total Acquisition-related costs ​ $ 23 ​ $ — ​ $ — ​ $ 127 ​ $ 150 Employee termination costs ​ ​ 688 ​ ​ 291 ​ ​ 47 ​ ​ — ​ ​ 1,026 Facility closures/consolidation ​ ​ 35 ​ ​ — ​ ​ — ​ ​ — ​ ​ 35 Legal costs, net ​ 613 ​ 2,462 ​ — ​ 80 ​ 3,155 Total ​ $ 1,359 ​ $ 2,753 ​ $ 47 ​ $ 207 ​ $ 4,366 ​
Schedule of changes in the accrued liability for restructuring and other charges	The accrued liability for restructuring and other charges is included in other accrued expenses and current liabilities in the condensed consolidated balance sheets. The changes in the accrued liability for restructuring and other charges for the nine-month period ended March 31, 2023 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Facility ​ ​ ​ ​ ​ ​ ​ Acquisition- ​ Employee ​ Closure/ ​ Legal ​ ​ ​ ​ ​ Related ​ Termination ​ Consolidation ​ Costs and ​ ​ ​ ​ Costs Costs Cost Settlements Total Balance as of June 30, 2022 ​ $ — ​ $ 181 ​ $ 23 ​ $ 1,780 ​ $ 1,984 Restructuring and other charges, net ​ 150 ​ 1,026 ​ 35 ​ 3,155 ​ 4,366 Payments, adjustments and reimbursements, net ​ (124) ​ (1,081) ​ 1 ​ (4,896) ​ (6,100) Balance as of March 31, 2023 ​ $ 26 ​ $ 126 ​ $ 59 ​ $ 39 ​ $ 250

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Mar. 31, 2023
Borrowings
Schedule of long-term debt	Long-term debt consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ March 31, ​ 2022 2023 1.25% convertible notes due September 1, 2022: ​ ​ ​ ​ ​ ​ Principal amount ​ $ 242,302 ​ $ — Unamortized debt issuance costs ​ ​ (196) ​ ​ — ​ ​ ​ 242,106 ​ ​ — Term loan ​ ​ 50,000 ​ ​ 145,000 Other long-term debt ​ 1,137 ​ 1,270 ​ ​ 293,243 ​ 146,270 Less current portion of long-term debt ​ (244,575) ​ (8,080) Long-term portion of debt ​ $ 48,668 ​ $ 138,190

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Mar. 31, 2023
Stockholders' Equity
Schedule of stock-based compensation expense in the consolidated statements of operations	​ We recorded stock-based compensation expense in the consolidated statements of operations as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, Nine Months Ended March 31, ​ 2022 2023 ​ 2022 2023 Cost of goods sold ​ $ 205 ​ $ 229 ​ $ 616 ​ $ 686 Selling, general and administrative ​ ​ 6,567 ​ ​ 6,757 ​ 19,977 ​ 20,467 Research and development ​ ​ 126 ​ ​ 126 ​ 393 ​ 375 Stock-based compensation expense ​ $ 6,898 ​ $ 7,112 ​ $ 20,986 ​ $ 21,528 ​
Schedule of stock option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ Weighted-Average ​ Aggregate ​ ​ Number of ​ Exercise ​ Remaining Contractual ​ Intrinsic Value ​ Options Price Term (in thousands) Outstanding at June 30, 2022 110,645 ​ 82.43 ​ ​ ​ ​ Granted 23,351 ​ ​ 87.90 ​ ​ ​ ​ ​ Exercised (19,614) ​ ​ 67.83 ​ ​ ​ ​ ​ Expired or forfeited (1,568) ​ ​ 81.60 ​ ​ ​ ​ ​ Outstanding at March 31, 2023 112,814 ​ ​ 86.11 ​ 6.8 years ​ $ 1,833 Exercisable at March 31, 2023 ​ 67,689 ​ ​ ​ 5.4 years ​ $ 1,274 ​
Schedule of stock option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ Average ​ Shares Fair Value Nonvested at June 30, 2022 427,447 ​ $ 90.17 Granted 356,694 ​ ​ 89.11 Vested (312,038) ​ ​ 96.42 Forfeited (13,814) ​ ​ 88.82 Nonvested at March 31, 2023 458,289 ​ $ 85.13 ​

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Mar. 31, 2023
Commitments and Contingencies
Schedule of roll-forward of the contingent consideration liability	​ ​ ​ ​ ​ Beginning fair value, June 30, 2022 $ 28,212 Addition of contingent earnout obligations ​ ​ 3,267 Foreign currency translation adjustment ​ ​ (25) Changes in fair value for contingent earnout obligations ​ (11,164) Payments on contingent earnout obligations ​ (230) Ending fair value, March 31, 2023 ​ $ 20,060
Schedule of changes in warranty provisions	​ The following table presents changes in warranty provisions (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended March 31, ​ 2022 2023 Balance at beginning of period ​ $ 19,736 ​ $ 13,347 Additions ​ ​ 2,292 ​ ​ 2,622 Reductions for warranty repair costs and adjustments ​ (7,191) ​ (5,831) Balance at end of period ​ $ 14,837 ​ $ 10,138 ​

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Mar. 31, 2023
Segment Information
Schedule of results of operations and identifiable assets by industry segment	The following tables present our results of operations and identifiable assets by industry segment (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ March 31, ​ March 31, ​ 2022 2023 2022 2023 Revenues (1)—by Segment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Security division ​ $ 158,644 ​ $ 178,752 ​ $ 454,079 ​ $ 491,188 Healthcare division ​ ​ 52,178 ​ ​ 43,911 ​ ​ 155,191 ​ ​ 130,994 Optoelectronics and Manufacturing division, including intersegment revenues ​ ​ 92,122 ​ ​ 93,888 ​ ​ 275,917 ​ ​ 286,513 Intersegment revenues elimination ​ ​ (12,467) ​ ​ (13,662) ​ ​ (38,772) ​ ​ (42,138) Total ​ $ 290,477 ​ $ 302,889 ​ $ 846,415 ​ $ 866,557 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income (loss) from operations —by Segment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Security division ​ $ 20,559 ​ $ 29,496 ​ $ 60,323 ​ $ 66,014 Healthcare division ​ ​ 7,480 ​ ​ 1,787 ​ ​ 20,430 ​ ​ 4,819 Optoelectronics and Manufacturing division ​ ​ 11,177 ​ ​ 12,493 ​ ​ 34,342 ​ ​ 35,963 Corporate ​ ​ (10,729) ​ ​ (10,148) ​ ​ (32,855) ​ ​ (29,572) Intersegment eliminations ​ ​ (61) ​ ​ 709 ​ ​ (48) ​ ​ 904 Total ​ $ 28,426 ​ $ 34,337 ​ $ 82,192 ​ $ 78,128 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ March 31, ​ 2022 2023 Assets (2)—by Segment: ​ ​ ​ ​ ​ ​ Security division ​ $ 839,769 ​ $ 877,618 Healthcare division ​ 231,423 ​ 244,825 Optoelectronics and Manufacturing division ​ 301,483 ​ 310,851 Corporate ​ 104,834 ​ 94,428 Eliminations (3) ​ (34,359) ​ (44,419) Total ​ $ 1,443,150 ​ $ 1,483,303 (1) (2) (3)

Basis of Presentation - Earning

Basis of Presentation - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Per Share Computations
Net income available to common stockholders	$ 21,808	$ 42,735	$ 49,397	$ 81,584
Weighted average shares outstanding-basic	16,809	17,417	16,858	17,734
Dilutive effect of equity awards	375	292	293	302
Weighted average shares outstanding-diluted	17,184	17,709	17,151	18,036
Basic earnings per share	$ 1.30	$ 2.45	$ 2.93	$ 4.60
Diluted earnings per share	$ 1.27	$ 2.41	$ 2.88	$ 4.52
Shares excluded from diluted earnings per share due to their anti-dilutive effect	60	211	75	62

Basis of Presentation - Cash an

Basis of Presentation - Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2023	Jun. 30, 2022
Cash Equivalents
Cash and cash equivalents	$ 65,622	$ 64,202
Cash, cash equivalents, and investments held by our foreign subsidiaries and subject to repatriation tax considerations(as a percentage)	81%

Basis of Presentation - Fair Va

Basis of Presentation - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
Fair Value of Financial Instruments
Liabilities-Contingent consideration	$ 20,060	$ 28,212
Recurring
Fair Value of Financial Instruments
Assets-Insurance company contracts	43,471	40,284
Assets - Interest rate swap contract	1,641
Liabilities-Convertible debt		242,302
Liabilities-Contingent consideration	20,060	28,212
Recurring | Level 2
Fair Value of Financial Instruments
Assets-Insurance company contracts	43,471	40,284
Assets - Interest rate swap contract	1,641
Liabilities-Convertible debt		242,302
Recurring | Level 3
Fair Value of Financial Instruments
Liabilities-Contingent consideration	$ 20,060	$ 28,212

Basis of Presentation - Derivat

Basis of Presentation - Derivative Instruments and Hedging Activity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
Derivative Instruments and Hedging Activity
Total interest and other expense, net presented in the condensed consolidated statements of operations in which the effects of cash flow hedges are recorded	$ (5,727)	$ (2,301)	$ (14,339)	$ (6,534)
Gain (loss) recognized in other comprehensive income (loss)	(1,430)		1,098
Amount reclassified from accumulated other comprehensive income (loss) to interest expense, net	(558)		(587)
Foreign currency forward contracts
Derivative Instruments and Hedging Activity
Notional amounts	19,800		19,800		$ 22,900
Interest rate swap
Derivative Instruments and Hedging Activity
Notional amount	175,000		175,000		$ 0
Fair value	$ 1,600		$ 1,600

Business Combinations (Details)

Business Combinations (Details) - USD ($) $ in Millions	1 Months Ended
	Feb. 28, 2023	Dec. 31, 2022	Aug. 31, 2022	Feb. 28, 2022
Privately held provider of training software and solutions
Business Combinations
Total purchase price	$ 2.1		$ 1.9
Maximum contingent consideration	$ 5
Privately held sales and services company
Business Combinations
Total purchase price				$ 1.1
Privately held provider of intelligent inspection, sensory, and recognition solutions
Business Combinations
Total purchase price				14
Maximum contingent consideration				$ 25
Provider of baggage and parcel inspection systems
Business Combinations
Total purchase price		$ 1.6

Balance Sheet Details (Details)

Balance Sheet Details (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
Accounts receivable, net
Accounts receivable	$ 314,121		$ 314,121		$ 326,849
Less allowance for doubtful accounts	(13,458)		(13,458)		(18,876)
Total	300,663		300,663		307,973
Inventories
Raw materials	233,458		233,458		213,290
Work-in-process	63,181		63,181		46,873
Finished goods	75,156		75,156		73,744
Total	371,795		371,795		333,907
Property and equipment, net
Property and equipment, gross	279,300		279,300		267,019
Less accumulated depreciation and amortization	(170,161)		(170,161)		(157,335)
Property and equipment, net	109,139		109,139		109,684
Depreciation	4,900	$ 5,400	14,600	$ 16,000
Land
Property and equipment, net
Property and equipment, gross	15,676		15,676		15,028
Buildings, civil works and improvements
Property and equipment, net
Property and equipment, gross	49,023		49,023		47,309
Leasehold improvements
Property and equipment, net
Property and equipment, gross	13,924		13,924		11,599
Equipment and tooling
Property and equipment, net
Property and equipment, gross	134,078		134,078		128,425
Furniture and fixtures
Property and equipment, net
Property and equipment, gross	3,543		3,543		3,592
Computer equipment
Property and equipment, net
Property and equipment, gross	23,061		23,061		21,208
Computer software
Property and equipment, net
Property and equipment, gross	26,757		26,757		25,153
Computer software implementation in process
Property and equipment, net
Property and equipment, gross	9,344		9,344		9,422
Construction in process
Property and equipment, net
Property and equipment, gross	$ 3,894		$ 3,894		$ 5,283

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2023 USD ($)
Changes in the carrying value of goodwill
Balance at the beginning of the period	$ 336,357
Goodwill acquired or adjusted during the period	10,709
Foreign currency translation adjustment	(350)
Balance at the end of the period	346,716
Security Division
Changes in the carrying value of goodwill
Balance at the beginning of the period	225,555
Goodwill acquired or adjusted during the period	5,659
Foreign currency translation adjustment	48
Balance at the end of the period	231,262
Healthcare Division
Changes in the carrying value of goodwill
Balance at the beginning of the period	43,187
Goodwill acquired or adjusted during the period	5,050
Foreign currency translation adjustment	44
Balance at the end of the period	48,281
Optoelectronics And Manufacturing Division
Changes in the carrying value of goodwill
Balance at the beginning of the period	67,615
Foreign currency translation adjustment	(442)
Balance at the end of the period	$ 67,173

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible assets subject to amortization (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
Amortizable assets:
Gross Carrying Value	$ 204,957		$ 204,957		$ 193,274
Accumulated Amortization	(96,187)		(96,187)		(85,777)
Total	108,770		108,770		107,497
Total intangible assets
Gross Carrying Value	236,379		236,379		224,147
Intangible assets, net	140,192		140,192		138,370
Amortization expense	4,800	$ 4,400	14,200	$ 13,000
In-process R&D
Non-amortizable assets:
Gross Carrying Value	533		533		533
Trademarks
Non-amortizable assets:
Gross Carrying Value	30,889		30,889		30,340
Software development costs
Amortizable assets:
Gross Carrying Value	73,826		73,826		64,096
Accumulated Amortization	(19,289)		(19,289)		(18,934)
Total	54,537		54,537		45,162
Patents
Amortizable assets:
Gross Carrying Value	8,611		8,611		8,541
Accumulated Amortization	(3,297)		(3,297)		(2,987)
Total	5,314		5,314		5,554
Developed technology
Amortizable assets:
Gross Carrying Value	68,411		68,411		66,901
Accumulated Amortization	(36,487)		(36,487)		(31,071)
Total	31,924		31,924		35,830
Customer relationships
Amortizable assets:
Gross Carrying Value	54,109		54,109		53,736
Accumulated Amortization	(37,114)		(37,114)		(32,785)
Total	$ 16,995		$ 16,995		$ 20,951

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Estimated future amortization expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
Estimated future amortization expense
2023 (remaining 3 months)	$ 4,820		$ 4,820
2024	19,076		19,076
2025	15,950		15,950
2026	12,614		12,614
2027	8,731		8,731
Thereafter	47,579		47,579
Total	108,770		108,770		$ 107,497
Software development costs
Estimated future amortization expense
Total	54,537		54,537		$ 45,162
Capitalized software development costs	$ 4,100	$ 4,000	$ 12,000	$ 11,700

Contract Assets and Liabiliti_3

Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2023	Jun. 30, 2022
Contract Assets
Unbilled revenue (included in accounts receivable, net)	$ 67,769	$ 43,287
Change in unbilled revenue	$ 24,482
Percentage of change in unbilled revenue	57%
Contract Liabilities
Advances from customers	$ 33,841	19,917
Deferred revenue - current	44,447	31,396
Deferred revenue - long-term	21,928	$ 20,476
Change in advances from customers	$ 13,924
Percentage of change in advances from customers	70%
Change in deferred revenue - current	$ 13,051
Percentage of change in deferred revenue - current	42%
Change in deferred revenue - long-term	$ 1,452
Percentage of change in deferred revenue - long-term	7%
Remaining Performance Obligations
Revenue remaining performance obligation	$ 329,500
Remaining performance obligation expected percentage recognized	52%
Recognized revenue from contract liabilities	$ 49,400
Revenue, practical expedient, incremental cost of obtaining contract [true false]	true
Revenue, practical expedient, financing component [true false]	true
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Remaining Performance Obligations
Remaining performance obligation expected timing of satisfaction period	12 months

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
Operating lease expense
Operating lease cost	$ 2,850	$ 2,704	$ 8,525	$ 7,354
Variable lease cost	328	263	1,055	650
Short-term lease cost	261	268	685	854
Operating lease expense	3,439	$ 3,235	10,265	8,858
Balance sheet assets and liabilities related to operating leases
Operating lease ROU assets, net	$ 34,167		$ 34,167		$ 39,461
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets, Noncurrent.		Other Assets, Noncurrent.
Operating lease liabilities, current portion	$ 9,830		$ 9,830		9,700
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other Liabilities, Current		Other Liabilities, Current
Operating lease liabilities, long-term	$ 25,097		$ 25,097		30,363
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other Liabilities, Noncurrent		Other Liabilities, Noncurrent
Total operating lease liabilities	$ 34,927		$ 34,927		$ 40,063
Weighted average remaining lease term	4 years 8 months 12 days		4 years 8 months 12 days
Weighted average discount rate	3.70%		3.70%
Cash flow information related to operating leases
Cash paid for operating lease liabilities			$ 8,631	7,549
ROU assets obtained in exchange for new lease obligations			$ 2,658	$ 9,519

Leases - Maturities of operatin

Leases - Maturities of operating lease liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
Maturities of operating lease liabilities
Less than one year	$ 11,039
1 - 2 years	9,083
2 - 3 years	7,184
3 - 4 years	6,587
4 - 5 years	3,118
Thereafter	1,449
Total	38,460
Less: imputed interest	(3,533)
Total operating lease liabilities	$ 34,927	$ 40,063

Impairment, Restructuring and_3

Impairment, Restructuring and Other Charges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Impairment, Restructuring and Other Charges
Acquisition-related costs	$ 50	$ 277	$ 150	$ 277
Employee termination costs	526	409	1,026	1,077
Facility closures/consolidation	35	3	35	(37)
Legal costs, net	279	780	3,155	3,493
Total	890	1,469	4,366	4,810
Other operational efficiency activities
Impairment, Restructuring and Other Charges
Acquisition-related costs	100	300	200	300
Employee termination costs	500	400	1,000	1,000
Legal costs, net	300	800	3,200
Total	900	1,500	4,400	4,800
Other operational efficiency activities | Class action litigation and government investigations
Impairment, Restructuring and Other Charges
Legal costs, net				3,500
Security Division
Impairment, Restructuring and Other Charges
Acquisition-related costs		221	23	221
Employee termination costs	413	409	688	1,077
Facility closures/consolidation	35	3	35	(37)
Legal costs, net	45		613
Total	493	633	1,359	1,261
Healthcare Division
Impairment, Restructuring and Other Charges
Employee termination costs	81		291
Legal costs, net	226		2,462
Total	307		2,753
Optoelectronics And Manufacturing Division
Impairment, Restructuring and Other Charges
Employee termination costs	32		47
Total	32		47
Corporate
Impairment, Restructuring and Other Charges
Acquisition-related costs	50	56	127	56
Legal costs, net	8	780	80	3,493
Total	$ 58	$ 836	$ 207	$ 3,549

Impairment, Restructuring and_4

Impairment, Restructuring and Other Charges - Accrued liability for restructuring and other charges (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2023 USD ($)
Restructuring and other charges
Balance as of June 30, 2022	$ 1,984
Restructuring and other charges, net	4,366
Payments, adjustments and reimbursements, net	(6,100)
Balance as of March 31, 2023	250
Acquisition-Related Costs
Restructuring and other charges
Restructuring and other charges, net	150
Payments, adjustments and reimbursements, net	(124)
Balance as of March 31, 2023	26
Employee termination costs
Restructuring and other charges
Balance as of June 30, 2022	181
Restructuring and other charges, net	1,026
Payments, adjustments and reimbursements, net	(1,081)
Balance as of March 31, 2023	126
Facility closure/ consolidations
Restructuring and other charges
Balance as of June 30, 2022	23
Restructuring and other charges, net	35
Payments, adjustments and reimbursements, net	1
Balance as of March 31, 2023	59
Legal Costs and Settlements
Restructuring and other charges
Balance as of June 30, 2022	1,780
Restructuring and other charges, net	3,155
Payments, adjustments and reimbursements, net	(4,896)
Balance as of March 31, 2023	$ 39

Borrowings (Details)

Borrowings (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Sep. 01, 2022	Jun. 30, 2022	Feb. 28, 2017
Borrowings
Borrowings outstanding		$ 215,000,000		$ 215,000,000			$ 60,000,000
Contractual interest expense				$ 500,000
Revolving credit facility
Borrowings
Maximum borrowing capacity	$ 600,000,000
Credit facility under term loan	150,000,000
Unused commitment fee (as a percent)				0.15%
Borrowings outstanding		215,000,000		$ 215,000,000
Available credit facility		323,700,000		$ 323,700,000
Revolving credit facility | Minimum
Borrowings
Maximum borrowing capacity	535,000,000
Unused commitment fee (as a percent)				0.10%
Revolving credit facility | Maximum
Borrowings
Maximum borrowing capacity	$ 750,000,000
Increase in the credit agreement's borrowing capacity available under certain circumstances			$ 250,000,000		$ 250,000,000
Unused commitment fee (as a percent)				0.25%
Revolving credit facility | LIBOR
Borrowings
Interest rate margin (as a percent)				1.25%
Revolving credit facility | LIBOR | Minimum
Borrowings
Interest rate margin (as a percent)				1%
Revolving credit facility | LIBOR | Maximum
Borrowings
Interest rate margin (as a percent)				1.75%
Letters of credit sub facility
Borrowings
Maximum borrowing capacity			300,000,000		300,000,000
Amount outstanding under letters of credit		61,300,000		$ 61,300,000
Term Loan
Borrowings
Borrowings outstanding		$ 145,000,000		$ 145,000,000
1.25% Convertible Senior Notes Due 2022
Borrowings
Principal amount								$ 287,500,000
Interest rate (as a percentage)		1.25%		1.25%
Principal value of notes repurchased and cancelled						$ 242,300,000
Debt issuance costs		$ 7,700,000		$ 7,700,000
Debt component of debt issuance costs		6,500,000		6,500,000
Equity component of debt issuance costs		1,200,000		1,200,000
Total interest expense		0	1,200,000	700,000	3,700,000
Contractual interest expense			900,000	500,000	2,700,000
Amortization of debt issuance costs			$ 300,000	200,000	$ 1,000,000
Bank lines-of-credit
Borrowings
Amount outstanding under letters of credit		50,100,000		50,100,000
Available credit facility		$ 27,700,000		$ 27,700,000

Borrowings - Other borrowings (

Borrowings - Other borrowings (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
Components of long-term debt
Convertible notes		$ 242,106
Term loan	$ 145,000	50,000
Other long-term debt	1,270	1,137
Total	146,270	293,243
Less current portion of long-term debt	(8,080)	(244,575)
Long-term portion of debt	$ 138,190	48,668
1.25% Convertible Senior Notes Due 2022
Components of long-term debt
Principal amount		242,302
Unamortized debt issuance costs		$ (196)

Stockholders' Equity - Stock-ba

Stockholders' Equity - Stock-based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Stockholders' Equity
Stock-based compensation expense	$ 7,112	$ 6,898	$ 21,528	$ 20,986
RSU
Stockholders' Equity
Unrecognized compensation cost	$ 20,600		$ 20,600
Weighted-average period			1 year 9 months 18 days
Shares
Nonvested at the beginning of the period (in shares)			427,447
Granted (in shares)			356,694
Vested (in shares)			(312,038)
Forfeited (in shares)			(13,814)
Nonvested at the end of the period (in shares)	458,289		458,289
Weighted-Average Fair Value
Nonvested at the beginning of the period (in dollars per share)			$ 90.17
Granted (in dollars per share)			89.11
Vested (in dollars per share)			96.42
Forfeited (in dollars per share)			88.82
Nonvested at the end of the period (in dollars per share)	$ 85.13		$ 85.13
Stock Options
Stockholders' Equity
Unrecognized compensation cost	$ 800		$ 800
Weighted-average period			2 years 2 months 12 days
Number of Options
Outstanding at the beginning of the period (in shares)			110,645
Granted (in shares)			23,351
Exercised (in shares)			(19,614)
Expired or forfeited (in shares)			(1,568)
Outstanding at the end of the period (in shares)	112,814		112,814
Exercisable at the end of the period (in shares)	67,689		67,689
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)			$ 82.43
Granted (in dollars per share)			87.90
Exercised (in dollars per share)			67.83
Expired or forfeited (in dollars per share)			81.60
Outstanding at the end of the period (in dollars per share)	$ 86.11		$ 86.11
Weighted-Average Remaining Contractual Term
Outstanding at the end of the period			6 years 9 months 18 days
Exercisable at the end of the period			5 years 4 months 24 days
Aggregate Intrinsic Value
Outstanding at the end of the period	$ 1,833		$ 1,833
Exercisable at the end of the period	$ 1,274		$ 1,274
Performance-based restricted stock units
Shares
Granted (in shares)			110,811	96,620
Performance-based restricted stock units | Minimum
Stockholders' Equity
Payout as a percentage of the original number of shares awarded or units awarded, which are converted into shares of the company's common stock			0%
Performance-based restricted stock units | Maximum
Stockholders' Equity
Payout as a percentage of the original number of shares awarded or units awarded, which are converted into shares of the company's common stock			376%
OSI Plans
Stockholders' Equity
Shares available for grant	800,000		800,000
OSI Plans | RSU
Stockholders' Equity
Number of shares available for grant reduced for each award granted			1.87
Number of shares available for grant increased for each award forfeited and returned			1.87
Cost of goods sold
Stockholders' Equity
Stock-based compensation expense	$ 229	205	$ 686	$ 616
Selling, general and administrative
Stockholders' Equity
Stock-based compensation expense	6,757	6,567	20,467	19,977
Research and development
Stockholders' Equity
Stock-based compensation expense	$ 126	$ 126	$ 375	$ 393

Stockholders' Equity - Addition

Stockholders' Equity - Additional information (Details) - Common stock - shares	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Sep. 30, 2022
Employee Stock Purchase Plan and Stock Repurchase Program
Number of common shares issued at discount rate	15%
Number of shares employees purchased	59,255	60,605
Number of shares issued under employee stock purchase program	417,972
Number of repurchased shares authorized			2,000,000
Number of shares repurchased	400,230	1,117,258
Number of shares available for repurchase	1,721,870

Commitments and Contingencies -

Commitments and Contingencies - Contingent Acquisition Obligations (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Contingent Acquisition Obligations
Beginning fair value, June 30, 2022				$ 28,212
Addition of contingent earnout obligations				3,267
Foreign currency translation adjustment				(25)
Changes in fair value for contingent earnout obligations				(11,164)
Payments on contingent earnout obligations				(230)
Ending fair value, March 31, 2023		$ 20,060		20,060
Other business acquisitions
Contingent Acquisition Obligations
Remaining maximum amount of contingent consideration		54,400		54,400
Payments for contingent consideration		$ 1,200	$ 300	$ 3,700	$ 1,700
Mr. Chopra, Chief Executive Officer | Deferred bonus
Indemnifications and Certain Employment-Related Contingencies
Bonus payment on or within 45 days of January 1, 2024 contingent upon continued employment through that date	$ 13,500
Maximum number of days after January 1, 2024, bonus payment due	45 days

Commitments and Contingencies_2

Commitments and Contingencies - Product Warranties (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Changes in provision for warranties
Balance at beginning of period	$ 13,347	$ 19,736
Additions	2,622	2,292
Reductions for warranty repair costs and adjustments	(5,831)	(7,191)
Balance at end of period	$ 10,138	$ 14,837

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Income Taxes
Effective income tax rate (as a percent)	23.80%	20.10%	22.60%	20.80%
Net discrete tax benefits for equity-based compensation	$ 0.2	$ 0.2	$ 0.6	$ 2

Segment Information - Operation

Segment Information - Operations and Identifiable Assets (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2023 USD ($) customer	Mar. 31, 2022 USD ($)	Mar. 31, 2023 USD ($) customer segment	Mar. 31, 2022 USD ($) customer	Jun. 30, 2022 USD ($) customer
Operations and identifiable assets by industry segment
Number of identifiable industry segments | segment			3
Total revenues	$ 302,889	$ 290,477	$ 866,557	$ 846,415
Income (loss) from operations	34,337	$ 28,426	78,128	$ 82,192
Segments assets	$ 1,483,303		$ 1,483,303		$ 1,443,150
Number of major customers | customer	1		0	0	0
One customer | Accounts receivable | Customer
Operations and identifiable assets by industry segment
Concentration (as a percent)			10%		10%
International customers | Revenues | Customer
Operations and identifiable assets by industry segment
Concentration (as a percent)	13%	10%		10%
Operating segments | Security division
Operations and identifiable assets by industry segment
Total revenues	$ 178,752	$ 158,644	$ 491,188	$ 454,079
Income (loss) from operations	29,496	20,559	66,014	60,323
Segments assets	877,618		877,618		$ 839,769
Operating segments | Healthcare division
Operations and identifiable assets by industry segment
Total revenues	43,911	52,178	130,994	155,191
Income (loss) from operations	1,787	7,480	4,819	20,430
Segments assets	244,825		244,825		231,423
Operating segments | Optoelectronics And Manufacturing Division
Operations and identifiable assets by industry segment
Total revenues	93,888	92,122	286,513	275,917
Income (loss) from operations	12,493	11,177	35,963	34,342
Segments assets	310,851		310,851		301,483
Corporate
Operations and identifiable assets by industry segment
Income (loss) from operations	(10,148)	(10,729)	(29,572)	(32,855)
Segments assets	94,428		94,428		104,834
Intersegment revenue eliminations
Operations and identifiable assets by industry segment
Total revenues	(13,662)	(12,467)	(42,138)	(38,772)
Income (loss) from operations	709	$ (61)	904	$ (48)
Segments assets	$ (44,419)		$ (44,419)		$ (34,359)