Cardiovascular Systems (CSII) 10-Q 31 Oct 19 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2019	Oct. 25, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity File Number	000-52082
Entity Registrant Name	CARDIOVASCULAR SYSTEMS, INC.
Entity Incorporation, State or Country Code	DE
Entity Central Index Key	0001180145
Current Fiscal Year End Date	--06-30
Entity Tax Identification Number	41-1698056
Entity Address, Address Line One	1225 Old Highway 8 Northwest
Entity Address, City or Town	St. Paul
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55112-6416
City Area Code	651
Local Phone Number	259-1600
Entity Current Reporting Status	Yes
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Title of 12(b) Security	Common Stock, One-tenth of One Cent ($0.001) Par Value Per Share
Trading Symbol	CSII
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		35,200,220

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Current assets
Cash and cash equivalents	$ 58,939	$ 74,237
Marketable Securities, Current	46,028	48,435
Accounts Receivable, after Allowance for Credit Loss, Current	34,624	36,015
Inventory, Net	19,489	18,058
Prepaid expenses and other current assets	2,858	3,330
Total current assets	161,938	180,075
Property and equipment, net	27,367	27,324
Intangible assets, net	20,991	5,105
Other assets	6,769	6,073
Total assets	217,065	218,577
Current liabilities
Accounts payable	13,106	11,194
Accrued expenses	32,085	29,387
Deferred revenue current	1,706	1,764
Total current liabilities	46,897	42,345
Long-term liabilities
Financing obligation	20,938	20,972
Deferred revenue noncurrent	6,076	6,541
Other liabilities	1,080	775
Total liabilities	74,991	70,633
Commitments and contingencies (see Note 10)
Common stock, $0.001 par value; authorized 100,000,000 common shares; issued and outstanding 35,199,895 at September 30, 2019 and 34,934,569 at June 30, 2019, respectively	34	34
Additional paid in capital	482,760	477,368
Accumulated other comprehensive income	102	78
Accumulated deficit	(340,822)	(329,536)
Total stockholders’ equity	142,074	147,944
Total liabilities and stockholders’ equity	$ 217,065	$ 218,577

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2019	Jun. 30, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	35,199,895	34,934,569
Common stock, shares outstanding	35,199,895	34,934,569

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Net revenues	$ 64,490	$ 56,266
Cost of goods sold	12,672	10,575
Gross profit	51,818	45,691
Expenses:
Selling, general and administrative	46,752	41,242
Research and development	10,765	7,364
Amortization of intangible assets	234	53
Total expenses	57,751	48,659
Loss from operations	(5,933)	(2,968)
Interest expense	472	424
Interest income and other, net	(663)	(537)
Total other (income) expense, net	(191)	(113)
Loss before income taxes	(5,742)	(2,855)
Provision for income taxes	38	33
Net loss	$ (5,780)	$ (2,888)
Basic and diluted earnings per share
Basic and diluted earnings per share	$ (0.17)	$ (0.09)
Basic and diluted weighted average shares outstanding
Basic weighted average shares outstanding	33,870,224	33,425,065
Diluted weighted average shares outstanding	33,870,224	33,425,065

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net loss	$ (5,780)	$ (2,888)
Other comprehensive income:
Unrealized gain on available-for-sale debt securities	24	0
Comprehensive loss	$ (5,756)	$ (2,888)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) Statement - USD ($) $ in Thousands	Total	Common Stock	Additional Paid  In Capital	Accumulated Other Comprehensive Income	Accumulated Deficit
Beginning balance, value at Jun. 30, 2018	$ 134,470	$ 33	$ 461,927	$ 101	$ (327,591)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Based Compensation Restricted Stock Awards Net	3,132	0	3,132	0	0
Shares withheld for payroll taxes	(1,058)	0	0	0	(1,058)
Stock Issued During Period, Value, Employee Stock Purchase Plan	252	0	252	0	0
Exercise of stock options and warrants	71	0	71	0	0
Unrealized gain on available-for-sale debt securities	0
Net loss	(2,888)	0	0	0	(2,888)
Ending balance, value at Sep. 30, 2018	133,979	33	465,382	0	(331,436)
Beginning balance, value at Jun. 30, 2019	147,944
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Based Compensation Restricted Stock Awards Net	3,804	0	3,804	0	0
Shares withheld for payroll taxes	(5,506)	0	0	0	5,506
Stock Issued During Period, Value, Employee Stock Purchase Plan	242	0	242	0	0
Unrealized gain on available-for-sale debt securities	24	0	0	24	0
Stock issued for acquisitions	1,346	0	1,346	0	0
Net loss	(5,780)	0	0	0	(5,780)
Ending balance, value at Sep. 30, 2019	$ 142,074	$ 34	$ 482,760	$ 102	$ (340,822)

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) (Parenthetical)	3 Months Ended
	Sep. 30, 2018$ / shares
Share-based Payment Arrangement, Option, Exercise Price Range, Beginning of Period [Abstract]
Exercise of Stock Options and Warrants, Per Share	$ 8.75

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities
Net loss	$ (5,780)	$ (2,888)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation of property and equipment	740	801
Amortization of intangible assets	234	53
Write-off of patent costs	505	0
Provision for doubtful accounts	75	50
Stock-based compensation	3,906	3,156
Accretion (Amortization) of Discounts and Premiums, Investments	(94)	0
Changes in assets and liabilities
Accounts receivable	1,316	855
Inventories	(1,431)	(1,490)
Prepaid expenses and other assets	763	828
Accounts payable	2,059	2,471
Accrued expenses and other liabilities	(7,490)	(4,291)
Deferred revenue	(523)	(819)
Net cash used in operating activities	(5,720)	(1,274)
Cash flows from investing activities
Purchases of property and equipment	(543)	(596)
Payments To Acquire Intangible Assets Purchased	5,741	0
Payments to Acquire Debt Securities, Available-for-sale	(4,844)	0
Sales of marketable securities	0	51
Maturities of marketable securities	7,400	0
Costs incurred in connection with patents	(325)	(79)
Net cash used in investing activities	(4,053)	(624)
Cash flows from financing activities
Payments of employee taxes related to vested restricted stock	(5,506)	(1,058)
Exercise of stock options	0	71
Proceeds from (Payments for) Other Financing Activities	(19)	(5)
Net cash used in financing activities	(5,525)	(992)
Net change in cash and cash equivalents	(15,298)	(2,890)
Cash and cash equivalents
Beginning of period	74,237	116,260
End of period	$ 58,939	$ 113,370

Basis of Presentation

Basis of Presentation	3 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation Cardiovascular Systems, Inc. (the “Company”), based in St. Paul, Minnesota, is a medical device company focused on developing and commercializing innovative solutions for treating vascular and coronary disease. The Company’s Orbital Atherectomy Systems (“OAS”) treat calcified and fibrotic plaque in arterial vessels throughout the leg and heart in a few minutes of treatment time, and address many of the limitations associated with existing surgical, catheter and pharmacological treatment alternatives. The Company prepared the unaudited interim consolidated financial statements and related unaudited financial information in the footnotes in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. The year-end consolidated balance sheet was derived from the Company’s audited consolidated financial statements, but does not include all disclosures as required by GAAP. These interim consolidated financial statements reflect all adjustments consisting of normal recurring accruals, which, in the opinion of management, are necessary for a fair statement of the Company’s consolidated financial position, the results of its operations, its changes in stockholders’ equity, and its cash flows for the interim periods. These interim consolidated financial statements should be read in conjunction with the consolidated annual financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the year ended June 30, 2019. The nature of the Company’s business is such that the results of any interim period may not be indicative of the results to be expected for the entire year. The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Selected Consolidated Financial

Selected Consolidated Financial Statement Information	3 Months Ended
	Sep. 30, 2019
Quarterly Financial Information Disclosure [Abstract]
Selected Consolidated Financial Statement Information	2. Selected Consolidated Financial Statement Information Accounts Receivable, Net Accounts receivable consists of the following: September 30, 2019 June 30, 2019 Accounts receivable $ 35,297 $ 36,628 Less: Allowance for doubtful accounts (673) (613) Accounts receivable, net $ 34,624 $ 36,015 Inventories Inventories consist of the following: September 30, 2019 June 30, 2019 Raw materials $ 6,938 $ 5,547 Work in process 2,228 1,415 Finished goods 10,323 11,096 Inventories $ 19,489 $ 18,058 Property and Equipment, Net Property and equipment consists of the following: September 30, 2019 June 30, 2019 Land $ 572 $ 572 Building 22,420 22,420 Equipment 17,654 17,517 Furniture 2,975 2,975 Leasehold improvements 551 540 Construction in progress 1,964 1,328 46,136 45,352 Less: Accumulated depreciation (18,769) (18,028) Property and equipment, net $ 27,367 $ 27,324 Accrued Expenses Accrued expenses consist of the following: September 30, 2019 June 30, 2019 Acquisition consideration $ 9,657 $ — Commissions 6,336 6,829 Accrued vacation 4,491 4,230 Salaries and bonus 3,283 11,105 Accrued excise, sales and other taxes 3,102 3,349 Clinical studies 2,323 2,092 Other accrued expenses 2,893 1,782 Accrued expenses $ 32,085 $ 29,387

Revenue

Revenue	3 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue	3. Revenue The following table disaggregates the Company’s net revenues by product category and geography for the following periods: Three months ended September 30, Product Category 2019 2018 Peripheral $ 45,529 $ 41,232 Coronary 18,961 15,034 Total net revenues $ 64,490 $ 56,266 Geography United States $ 61,529 $ 54,924 International 2,961 1,342 Total net revenues $ 64,490 $ 56,266

Acquisition

Acquisition	3 Months Ended
	Sep. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Acquisition	4. Acquisition On August 5, 2019, the Company acquired the WIRION Embolic Protection System and related assets from Gardia Medical Ltd., ("Gardia") a wholly owned Israeli subsidiary of Allium Medical Solutions Ltd. for a total purchase price of $16,687. The device, which received CE Mark in June 2015 and FDA clearance in March 2018, is a distal embolic protection filter used to capture debris that can be associated with all types of peripheral vascular intervention procedures. The Company acquired the device to expand its portfolio of products for physicians that treat complex peripheral arterial disease. Upon closing, the Company made an initial $5,600 cash payment net of transaction expenses, and issued Gardia 31,493 shares of common stock of the Company valued at $1,346. Following the successful completion of the manufacturing transfer of the WIRION system to the Company, the Company has agreed to pay Gardia an additional $10,000, half of which may be paid by the Company through an additional issuance of shares of common stock. The Company has accounted for this transaction as an asset acquisition resulting in developed technology of $15,642, and a trade name of $760, both recognized as a component of intangible assets, net within the Company's consolidated balance sheet. The remainder of the purchase price was recognized in property and equipment. The purchase also includes a performance milestone payment to Gardia equal to $3,000 for each $10,000 in net revenues recognized by the Company from sales of the WIRION system for applications above-the-knee in excess of $30,000 during the 36 month period beginning on the earlier of the first commercial sale of the system by the Company or six months following successful manufacturing transfer. If payment of the performance milestone becomes probable, these additional costs will added to the carrying value of the acquired assets.

Intangible Assets

Intangible Assets	3 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	5. Intangible Assets The Company’s finite-lived intangible assets are stated at cost less accumulated amortization and include developed technology and trade name assets acquired in the asset acquisition discussed in Note 4, as well as costs incurred to obtain patents. Developed technology and trade name assets are amortized over 15 years. Patent costs are amortized beginning at the time of patent approval over a useful life not exceeding 20 years. The components of intangible assets, net are as follows: September 30, 2019 June 30, 2019 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Developed technology $ 15,624 $ (174) $ 15,450 $ — $ — $ — Patents 5,824 (1,035) 4,789 6,093 (988) 5,105 Trade name 760 (8) 752 — — — Total intangible assets, net $ 22,208 $ (1,217) $ 20,991 $ 6,093 $ (988) $ 5,105 Amortization expense expected for the next five years and thereafter is as follows: Remainder of fiscal 2020 $ 973 Fiscal 2021 1,297 Fiscal 2022 1,295 Fiscal 2023 1,289 Fiscal 2024 1,285 Thereafter 14,852 $ 20,991

Debt

Debt	3 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt Disclosure	6. Debt Revolving Credit Facility In March 2017, the Company entered into a Loan and Security Agreement (the “Loan Agreement”) with Silicon Valley Bank (“SVB”). The Loan Agreement provides for a senior, secured revolving credit facility (the “Revolver”) of $40,000 (the “Maximum Dollar Amount”). Advances under the Revolver may be made from time to time up to the Maximum Dollar Amount, subject to certain borrowing limitations. The Revolver has a maturity date of March 31, 2020 and bears interest at a floating per annum rate equal to the Wall Street Journal prime rate, less 0.25%. Interest on borrowings is due monthly and the principal balance is due at maturity. Borrowings up to $10,000 are available on a non-formula basis. Borrowings above $10,000 are based on (i) 85% of eligible domestic accounts receivable, and (ii) the lesser of 50% of eligible inventory or $5,000, subject to adjustment as defined in the Loan Agreement. Upon the Revolver’s maturity, any outstanding principal balance, unpaid accrued interest, and all other obligations under the Revolver will be due and payable. The Company will incur a fee equal to 1% of the Maximum Dollar Amount upon termination of the Loan Agreement or the Revolver for any reason prior to the maturity date, unless refinanced with SVB. The Company’s obligations under the Loan Agreement are secured by certain of the Company’s assets, including, among other things, accounts receivable, deposit accounts, inventory, equipment, general intangibles and records pertaining to the foregoing. The collateral does not include the Company’s intellectual property, but the Company has agreed not to encumber its intellectual property without the consent of SVB. The Loan Agreement contains customary covenants limiting the Company’s ability to, among other things, incur debt or liens, make certain investments and loans, enter into transactions with affiliates, undergo certain fundamental changes, dispose of assets, or change the nature of its business. In addition, the Loan Agreement contains financial covenants requiring the Company to maintain, at all times when any amounts are outstanding under the Revolver, either (i) minimum unrestricted cash at SVB and unused availability on the Revolver of at least $10,000 or (ii) minimum trailing three-month Adjusted EBITDA of $1,000. If the Company does not comply with the various covenants under the Loan Agreement, the interest rate on outstanding amounts will increase by 5% and SVB may, subject to various customary cure rights, decline to provide additional advances under the Revolver, require the immediate payment of all amounts outstanding under the Revolver, and foreclose on all collateral. Under the Loan Agreement, the Company paid SVB a non-refundable commitment fee of $80, which will be amortized to interest expense over the term of the Loan Agreement. The Company is required to pay a fee equal to 0.35% per annum on the unused portion of the Revolver, payable quarterly in arrears. The Company is not obligated to draw any funds under the Revolver and has not done so under the Revolver since entering into the Loan Agreement. No amounts are outstanding as of September 30, 2019. Financing Obligation In March 2017, in connection with the sale of the Company’s headquarters facility in St. Paul, Minnesota (the “Facility”), the Company entered into a Lease Agreement to lease the Facility. The Lease Agreement has an initial term of 15 years, with four consecutive renewal options of 5 years each at the Company’s option, with a base annual rent in the first year of $1,638 and annual escalations of 3% thereafter. Rent during subsequent renewal terms will be at the then fair market rental rate. As the lease terms resulted in a capital lease classification, the Company accounted for the sale and leaseback of the Facility as a financing transaction where the assets remain on the Company’s balance sheet and a financing obligation was recorded for $20,944. As lease payments are made, they will be allocated between interest expense and a reduction of the financing obligation, resulting in a value of the financing obligation that is equivalent to the net book value of the assets at the end of the lease term. The effective interest rate is 7.89%. At the end of the lease (including any renewal option terms), the Company will remove the assets and financing obligation from its balance sheet. Payments under the initial term of the Lease Agreement as of September 30, 2019 are as follows: Remainder of fiscal 2020 $ 1,316 Fiscal 2021 1,803 Fiscal 2022 1,857 Fiscal 2023 1,913 Fiscal 2024 1,970 Thereafter 17,405 $ 26,264

Marketable Securities & Fair Va

Marketable Securities & Fair Value Measurements	3 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Marketable Securities & Fair Value Measurements	7. Marketable Securities & Fair Value Measurements The Company’s marketable securities are classified on the consolidated balance sheet as follows: September 30, 2019 June 30, 2019 Short-term available-for-sale debt securities $ 33,321 $ 38,193 Long-term available-for-sale debt securities 12,294 9,832 Available-for-sale debt securities 45,615 48,025 Mutual funds 413 410 Total marketable securities $ 46,028 $ 48,435 Available-for-sale debt securities are invested in the following financial instruments: As of September 30, 2019 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Commercial paper $ 6,957 $ — $ — $ 6,957 Corporate debt 28,932 95 (4) 29,023 Asset backed securities 9,624 14 (3) 9,635 Total available-for-sale debt securities $ 45,513 $ 109 $ (7) $ 45,615 As of June 30, 2019 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Commercial paper $ 14,277 $ — $ — $ 14,277 Corporate debt 26,466 64 — 26,530 Asset backed securities 7,204 14 — 7,218 Total available-for-sale debt securities $ 47,947 $ 78 $ — $ 48,025 The following table provides information by level for the Company’s marketable securities that were measured at fair value on a recurring basis: Fair Value Measurements as of September 30, 2019 Using Inputs Considered as Fair Value Level 1 Level 2 Level 3 Commercial paper $ 6,957 $ — $ 6,957 $ — Corporate debt 29,023 — 29,023 — Asset backed securities 9,635 — 9,635 — Mutual funds 413 122 291 — Total marketable securities $ 46,028 $ 122 $ 45,906 $ — Fair Value Measurements as of June 30, 2019 Using Inputs Considered as Fair Value Level 1 Level 2 Level 3 Commercial paper $ 14,277 $ — $ 14,277 $ — Corporate debt 26,530 — 26,530 — Asset backed securities 7,218 — 7,218 — Mutual funds 410 121 289 — Total marketable securities $ 48,435 $ 121 $ 48,314 $ — The Company’s marketable securities classified within Level 1 are valued using real-time quotes for transactions in active exchange markets. Marketable securities within Level 2 are valued using readily available pricing sources. There were no transfers of assets between Level 1 and Level 2 of the fair value measurement hierarchy during the three months ended September 30, 2019. Any transfers between levels would be recognized on the date of the event or when a change in circumstances causes a transfer. Effective July 1, 2018 the Company adopted the provisions of ASU 2016-01. Unrealized gains and losses of marketable securities in equity investments, denoted as mutual funds, previously recognized in other comprehensive income, will now be recognized in net income as a component of other income. Non-Marketable Equity Investment

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement, Disclosure [Abstract]
Stock Options and Restricted Stock Awards	8. Stock-Based Compensation On November 15, 2017, the Company’s stockholders approved the 2017 Equity Incentive Plan (the “2017 Plan”) for the purpose of granting equity awards to employees, directors and consultants. The 2017 Plan replaced the 2014 Equity Incentive Plan (the “2014 Plan”), and no further equity awards may be granted under the 2014 Plan (the 2017 Plan and the 2014 Plan are collectively referred to as the “Plans”). Equity awards classified as restricted stock and performance-based restricted stock are treated as issued shares when granted; however, these shares are not included in the computation of basic weighted average shares outstanding. When shares vest, unless the holder elects to pay the payroll tax liability in cash or through a sale of shares, the Company withholds the appropriate amount of shares to settle the payroll tax liability, on behalf of the individual receiving the shares, as an adjustment to accumulated deficit. Restricted Stock The value of each restricted stock award is equal to the fair market value of the Company’s common stock at the date of grant. Vesting of time-based restricted stock awards ranges from one year to three years. The estimated fair value of restricted stock awards, including the effect of estimated forfeitures, is recognized on a straight-line basis over the restricted stock’s vesting period. Restricted stock award activity for the three months ended September 30, 2019 is as follows: Number of Weighted Outstanding at June 30, 2019 474,945 $ 31.36 Granted 164,834 $ 46.97 Forfeited (8,022) $ 32.57 Vested (153,921) $ 30.37 Outstanding at September 30, 2019 477,836 $ 36.86 Performance-Based Restricted Stock The Company also grants performance-based restricted stock awards to certain executives and other management. In August 2019, the Company granted an aggregate maximum of 207,891 shares that vest based on the Company’s total shareholder return relative to total shareholder return of the Company’s peer group (a market condition), as measured by the closing prices of the stock of the Company and the peer group members for the 90 trading days preceding July 1, 2019 compared to the closing prices of the stock of the Company and the peer group members for the 90 trading days preceding July 1, 2022. Vesting of these awards will be determined on the date that the Company’s Annual Report on Form 10-K for the fiscal year ending June 30, 2022 is filed. To calculate the estimated fair value of these restricted stock awards with market conditions, the Company uses a Monte Carlo simulation, which uses the expected average stock prices to estimate the expected number of shares that will vest. The Monte Carlo simulation resulted in an aggregate fair value of approximately $6,330, which the Company will recognize as expense using the straight-line method over the period that the awards are expected to vest. Stock-based compensation expense related to an award with a market condition will be recognized regardless of whether the market condition is satisfied, provided that the requisite service has been provided. Performance-based restricted stock awards granted in fiscal 2018 and 2019 that are outstanding vest based on the Company’s total shareholder return relative to total shareholder return of the Company’s peer group (a market condition), as measured by the closing prices of the stock of the Company and the peer group members for the 90 trading days preceding July 1, 2017 and July 1, 2018, respectively, compared to the closing prices of the stock of the Company and the peer group members for the 90 trading days preceding July 1, 2020 and July 1, 2021, respectively. Performance-based restricted stock award activity for the three months ended September 30, 2019 is as follows: Number of Weighted Outstanding at June 30, 2019 753,872 $ 15.20 Granted 207,891 $ 30.45 Forfeited (23,297) $ 15.64 Vested (275,193) $ 11.97 Outstanding at September 30, 2019 663,273 $ 21.69

Leases

Leases	3 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Lessee, Operating Leases	9. Leases Effective July 1, 2019, the Company adopted Accounting Standards Codification (“ASC”) Topic 842 - Leases using the modified retrospective transition approach and electing the package of practical expedients. This resulted in the recognition of right-of-use assets of $441 and total operating lease liabilities of $463. There was no cumulative-effect adjustment recorded to retained earnings upon adoption. The Company leases its Texas manufacturing facilities under an operating lease agreement. During the three months ended September 30, 2019, the Company exercised its option to extend the term of this lease agreement by one year, so that it now expires in April 2021. The Company also leases office equipment under lease agreements that expire at various dates through April 2024. The Company also leases its Minnesota headquarters facility as discussed in Note 6. This transaction did not qualify for sale leaseback accounting upon adoption of ASC 842 and continues to be accounted for as a financing obligation. Operating lease right-of-use assets and liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement dates. The Company considers fixed or variable payment terms, prepayments, incentives, and options to extend, terminate or purchase. Renewal, termination or purchase options affect the lease term used for determining lease asset value only if the option is reasonably certain to be exercised. The Company uses its incremental borrowing rate based on information available at the lease commencement date in determining the present value of lease payments unless the lease provides an implicit interest rate. Operating lease cost is classified within the consolidated statement of operations based on the nature of the leased asset. The Company's operating lease cost for the three months ended September 30, 2019 was $121. Cash paid for operating lease liabilities approximated operating lease cost for the three months ended September 30, 2019. There was $437 of operating lease right-of-use assets obtained in exchange for new lease liabilities during the three months ended September 30, 2019. September 30, 2019 Right-of-use assets Other assets $ 769 Operating lease liabilities Accrued expenses $ 478 Other liabilities 306 Total operating lease liabilities $ 784 Future minimum lease payments under the agreements as of September 30, 2019 are as follows: Remainder of fiscal 2020 $ 382 Fiscal 2021 423 Fiscal 2022 11 Fiscal 2023 3 Fiscal 2024 2 Thereafter — Total lease payments 821 Less imputed interest (37) Total operating lease liabilities $ 784 As of September 30, 2019, the weighted average remaining lease term for operating leases was 1.7 years and the weighted average discount rate used to determine operating lease liabilities was 5.25%.

Commitment and Contingencies

Commitment and Contingencies	3 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitment and Contingencies In the ordinary conduct of business, the Company is subject to various lawsuits and claims covering a wide range of matters including, but not limited to, employment claims and commercial disputes. While the outcome of these matters is uncertain, the Company does not believe there are any significant matters as of September 30, 2019 that are probable or estimable, for which the outcome could have a material adverse impact on its consolidated balance sheets or statements of operations.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	11. Earnings Per Share The following table presents a reconciliation of the numerators and denominators used in the basic and diluted earnings per common share computations (in thousands except share and per share amounts): Three Months Ended September 30, 2019 2018 Numerator Net income (loss) $ (5,780) $ (2,888) Income allocated to participating securities — — Net income (loss) available to common stockholders $ (5,780) $ (2,888) Denominator Weighted average common shares outstanding – basic 33,870,224 33,425,065 Effect of dilutive restricted stock units (1) — — Effect of performance-based restricted stock awards (2) — — Weighted average common shares outstanding – diluted 33,870,224 33,425,065 Earnings per common share – basic and diluted $ (0.17) $ (0.09) (1) At September 30, 2019 and 2018, 365,973 and 354,176 additional shares of common stock, respectively, were issuable upon the settlement of outstanding restricted stock units. The effect of the shares that would be issued upon settlement of these restricted stock units has been excluded from the calculation of diluted loss per share for the three months ended September 30, 2019 and 2018, because those shares are anti-dilutive. (2) At September 30, 2019 and 2018, 663,273 and 740,176 performance-based restricted stock awards, respectively, were outstanding. The effect of the potential vesting of these awards has been excluded from the calculation of diluted loss per share for the three months ended September 30, 2019 and 2018, because those shares are anti-dilutive. Unvested time-based restricted stock awards that contain nonforfeitable rights to dividends are participating securities and included in the computation of earnings per share pursuant to the two-class method. Under this method, earnings attributable to the Company are allocated between common stockholders and the participating awards, as if the awards were a second class of stock. During periods of net income, the calculation of earnings per share excludes the income attributable to participating securities in the numerator and the dilutive impact of these securities from the denominator. In the event of a net loss, undistributed earnings are not allocated to participating securities and the denominator excludes the dilutive impact of these securities as they do not share in the losses of the Company. During the three months ended September 30, 2019 and 2018, there were no undistributed earnings allocated to participating securities due to the net losses.

Selected Consolidated Financi_2

Selected Consolidated Financial Statement Information (Tables)	3 Months Ended
	Sep. 30, 2019
Quarterly Financial Information Disclosure [Abstract]
Schedule of Accounts Receivable	September 30, 2019 June 30, 2019 Accounts receivable $ 35,297 $ 36,628 Less: Allowance for doubtful accounts (673) (613) Accounts receivable, net $ 34,624 $ 36,015
Schedule of Inventory	September 30, 2019 June 30, 2019 Raw materials $ 6,938 $ 5,547 Work in process 2,228 1,415 Finished goods 10,323 11,096 Inventories $ 19,489 $ 18,058
Schedule of Property and Equipment	September 30, 2019 June 30, 2019 Land $ 572 $ 572 Building 22,420 22,420 Equipment 17,654 17,517 Furniture 2,975 2,975 Leasehold improvements 551 540 Construction in progress 1,964 1,328 46,136 45,352 Less: Accumulated depreciation (18,769) (18,028) Property and equipment, net $ 27,367 $ 27,324
Schedule of Accrued Expenses	September 30, 2019 June 30, 2019 Acquisition consideration $ 9,657 $ — Commissions 6,336 6,829 Accrued vacation 4,491 4,230 Salaries and bonus 3,283 11,105 Accrued excise, sales and other taxes 3,102 3,349 Clinical studies 2,323 2,092 Other accrued expenses 2,893 1,782 Accrued expenses $ 32,085 $ 29,387

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Three months ended September 30, Product Category 2019 2018 Peripheral $ 45,529 $ 41,232 Coronary 18,961 15,034 Total net revenues $ 64,490 $ 56,266 Geography United States $ 61,529 $ 54,924 International 2,961 1,342 Total net revenues $ 64,490 $ 56,266

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets [Table Text Block]	September 30, 2019 June 30, 2019 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Developed technology $ 15,624 $ (174) $ 15,450 $ — $ — $ — Patents 5,824 (1,035) 4,789 6,093 (988) 5,105 Trade name 760 (8) 752 — — — Total intangible assets, net $ 22,208 $ (1,217) $ 20,991 $ 6,093 $ (988) $ 5,105
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Remainder of fiscal 2020 $ 973 Fiscal 2021 1,297 Fiscal 2022 1,295 Fiscal 2023 1,289 Fiscal 2024 1,285 Thereafter 14,852 $ 20,991

Debt (Tables)

Debt (Tables)	3 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of future minimum lease payments	Remainder of fiscal 2020 $ 1,316 Fiscal 2021 1,803 Fiscal 2022 1,857 Fiscal 2023 1,913 Fiscal 2024 1,970 Thereafter 17,405 $ 26,264

Marketable Securities & Fair _2

Marketable Securities & Fair Value Measurements (Tables)	3 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Marketable Securities [Table Text Block]	September 30, 2019 June 30, 2019 Short-term available-for-sale debt securities $ 33,321 $ 38,193 Long-term available-for-sale debt securities 12,294 9,832 Available-for-sale debt securities 45,615 48,025 Mutual funds 413 410 Total marketable securities $ 46,028 $ 48,435
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	As of September 30, 2019 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Commercial paper $ 6,957 $ — $ — $ 6,957 Corporate debt 28,932 95 (4) 29,023 Asset backed securities 9,624 14 (3) 9,635 Total available-for-sale debt securities $ 45,513 $ 109 $ (7) $ 45,615 As of June 30, 2019 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Commercial paper $ 14,277 $ — $ — $ 14,277 Corporate debt 26,466 64 — 26,530 Asset backed securities 7,204 14 — 7,218 Total available-for-sale debt securities $ 47,947 $ 78 $ — $ 48,025
Fair Value, Assets Measured on Recurring Basis	Fair Value Measurements as of September 30, 2019 Using Inputs Considered as Fair Value Level 1 Level 2 Level 3 Commercial paper $ 6,957 $ — $ 6,957 $ — Corporate debt 29,023 — 29,023 — Asset backed securities 9,635 — 9,635 — Mutual funds 413 122 291 — Total marketable securities $ 46,028 $ 122 $ 45,906 $ — Fair Value Measurements as of June 30, 2019 Using Inputs Considered as Fair Value Level 1 Level 2 Level 3 Commercial paper $ 14,277 $ — $ 14,277 $ — Corporate debt 26,530 — 26,530 — Asset backed securities 7,218 — 7,218 — Mutual funds 410 121 289 — Total marketable securities $ 48,435 $ 121 $ 48,314 $ —

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement, Disclosure [Abstract]
Restricted Stock Award Activity	Number of Weighted Outstanding at June 30, 2019 474,945 $ 31.36 Granted 164,834 $ 46.97 Forfeited (8,022) $ 32.57 Vested (153,921) $ 30.37 Outstanding at September 30, 2019 477,836 $ 36.86
Performance Based RSA Activity	Number of Weighted Outstanding at June 30, 2019 753,872 $ 15.20 Granted 207,891 $ 30.45 Forfeited (23,297) $ 15.64 Vested (275,193) $ 11.97 Outstanding at September 30, 2019 663,273 $ 21.69

Leases (Tables)

Leases (Tables)	3 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Lessee, Operating Lease, Liability, Maturity	September 30, 2019 Right-of-use assets Other assets $ 769 Operating lease liabilities Accrued expenses $ 478 Other liabilities 306 Total operating lease liabilities $ 784
Schedule of Future Minimum Lease Payments for Operating Leases	Remainder of fiscal 2020 $ 382 Fiscal 2021 423 Fiscal 2022 11 Fiscal 2023 3 Fiscal 2024 2 Thereafter — Total lease payments 821 Less imputed interest (37) Total operating lease liabilities $ 784

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Reconciliation of Numerators and Denominators Used in Basic and Diluted Earnings Per Common Share Computations	The following table presents a reconciliation of the numerators and denominators used in the basic and diluted earnings per common share computations (in thousands except share and per share amounts): Three Months Ended September 30, 2019 2018 Numerator Net income (loss) $ (5,780) $ (2,888) Income allocated to participating securities — — Net income (loss) available to common stockholders $ (5,780) $ (2,888) Denominator Weighted average common shares outstanding – basic 33,870,224 33,425,065 Effect of dilutive restricted stock units (1) — — Effect of performance-based restricted stock awards (2) — — Weighted average common shares outstanding – diluted 33,870,224 33,425,065 Earnings per common share – basic and diluted $ (0.17) $ (0.09) (1) At September 30, 2019 and 2018, 365,973 and 354,176 additional shares of common stock, respectively, were issuable upon the settlement of outstanding restricted stock units. The effect of the shares that would be issued upon settlement of these restricted stock units has been excluded from the calculation of diluted loss per share for the three months ended September 30, 2019 and 2018, because those shares are anti-dilutive. (2) At September 30, 2019 and 2018, 663,273 and 740,176 performance-based restricted stock awards, respectively, were outstanding. The effect of the potential vesting of these awards has been excluded from the calculation of diluted loss per share for the three months ended September 30, 2019 and 2018, because those shares are anti-dilutive.

Selected Consolidated Financi_3

Selected Consolidated Financial Statement Information - Accounts Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Accounts Receivable
Accounts receivable	$ 35,297	$ 36,628
Less: Allowance for doubtful accounts	(673)	(613)
Accounts receivable, net	$ 34,624	$ 36,015

Selected Consolidated Financi_4

Selected Consolidated Financial Statement Information - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Inventories
Raw materials	$ 6,938	$ 5,547
Work in process	2,228	1,415
Finished goods	10,323	11,096
Inventories	$ 19,489	$ 18,058

Selected Consolidated Financi_5

Selected Consolidated Financial Statement Information - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Property and Equipment
Land	$ 572	$ 572
Building	22,420	22,420
Equipment	17,654	17,517
Furniture	2,975	2,975
Leasehold improvements	551	540
Construction in progress	1,964	1,328
Property and equipment, gross	46,136	45,352
Less: Accumulated depreciation	(18,769)	(18,028)
Property and equipment, net	$ 27,367	$ 27,324

Selected Consolidated Financi_6

Selected Consolidated Financial Statement Information - Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Accrued Expenses
Acquisition consideration	$ 9,657	$ 0
Commissions	6,336	6,829
Accrued vacation	4,491	4,230
Salaries and bonus	3,283	11,105
Accrued excise, sales and other taxes	3,102	3,349
Clinical studies	2,323	2,092
Other accrued expenses	2,893	1,782
Accrued expenses	$ 32,085	$ 29,387

Revenue - Dissagregate (Details

Revenue - Dissagregate (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Net revenues	$ 64,490	$ 56,266
United States
Disaggregation of Revenue [Line Items]
Net revenues	61,529	54,924
International
Disaggregation of Revenue [Line Items]
Net revenues	2,961	1,342
Peripheral
Disaggregation of Revenue [Line Items]
Net revenues	45,529	41,232
Coronary
Disaggregation of Revenue [Line Items]
Net revenues	$ 18,961	$ 15,034

Revenue - Narratives (Details)

Revenue - Narratives (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue recognized previously deferred	$ 523
Volume-based rebates, discounts and incentives, current	$ 1,935	$ 1,958

Acquisition (Details)

Acquisition (Details) - USD ($) $ in Thousands	Aug. 05, 2019	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Consideration Transferred		$ 1,346
Payments to Acquire Intangible Assets		325	$ 79
Finite-Lived Intangible Assets, Gross		22,208		$ 6,093
WIRION Embolic Protection System
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Consideration Transferred	$ 16,687
Payments to Acquire Intangible Assets	$ 5,600
Stock Issued During Period, Shares, New Issues	31,493
Other Significant Noncash Transaction, Value of Consideration Received	$ 1,346
Additional Consideration, Pending Disbursement	10,000
Potential Milestone Payment		3
Milestone Payment Target, Increment in Net Revenues		10
Milestone payment target, excess threshold		$ 30
Period for milestone payments, successful manufacture transfer		36 months
Developed Technology Rights
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finite-Lived Intangible Assets, Gross		$ 15,624		0
Developed Technology Rights | WIRION Embolic Protection System
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finite-Lived Intangible Assets, Gross	15,642
Trade Names
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finite-Lived Intangible Assets, Gross		$ 760		$ 0
Trade Names | WIRION Embolic Protection System
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finite-Lived Intangible Assets, Gross	$ 760

Intangible Assets - Finite-Live

Intangible Assets - Finite-Lived (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Jun. 30, 2019
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 22,208	$ 6,093
Finite-Lived Intangible Assets, Accumulated Amortization	(1,217)	(988)
Finite-Lived Intangible Assets, Net, Total	$ 20,991	5,105
Developed Technology and Trade Names
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	15 years
Developed Technology Rights
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 15,624	0
Finite-Lived Intangible Assets, Accumulated Amortization	(174)	0
Finite-Lived Intangible Assets, Net, Total	$ 15,450	0
Patents
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	20 years
Finite-Lived Intangible Assets, Gross	$ 5,824	6,093
Finite-Lived Intangible Assets, Accumulated Amortization	(1,035)	(988)
Finite-Lived Intangible Assets, Net, Total	4,789	5,105
Trade Names
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	760	0
Finite-Lived Intangible Assets, Accumulated Amortization	(8)	0
Finite-Lived Intangible Assets, Net, Total	$ 752	$ 0

Intangible Assets - Amortizatio

Intangible Assets - Amortization (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	$ 973
Finite-Lived Intangible Assets, Amortization Expense, Year Two	1,297
Finite-Lived Intangible Assets, Amortization Expense, Year Three	1,295
Finite-Lived Intangible Assets, Amortization Expense, Year Four	1,289
Finite-Lived Intangible Assets, Amortization Expense, Year Five	1,285
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	14,852
Finite-Lived Intangible Assets, Net, Total	$ 20,991	$ 5,105

Debt - Revolving Credit Facilit

Debt - Revolving Credit Facility (Details) - Silicon Valley Bank [Member] - Revolving Credit Facility [Member] $ in Thousands	1 Months Ended
	Mar. 31, 2017USD ($)
Line of Credit Facility [Line Items]
Percentage of Eligible Accounts Receivable	85.00%
Prime Rate [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 40,000
Line of Credit Facility, Expiration Date	Mar. 31, 2020
Percent Reduction to Prime Interest Rate	0.25%
Borrowings Available On A NonFormula Basis	$ 10,000
Percent of Eligible Inventory	50.00%
Maximum Eligible Inventory Value	$ 5,000
Early Termination Fee	1.00%
Covenant, Unused Availability	$ 10,000
Interest Rate Increase For Noncompliance	5.00%
Line of Credit Facility, Commitment Fee Amount	$ 80
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.35%
Line of Credit Facility, Fair Value of Amount Outstanding	$ 0
Maximum
Line of Credit Facility [Line Items]
Covenant, Adjusted EBITDA	$ 1,000

Debt - Financing Obligation (De

Debt - Financing Obligation (Details) - Capital Lease Obligations [Member] $ in Thousands	3 Months Ended
	Sep. 30, 2019USD ($)lease_renewal_option
Debt Instrument [Line Items]
Lessee, Finance Lease, Term of Contract	15 years
Lessee Leasing Arrangements Capital Leases Number Options To Renew | lease_renewal_option	4
Lessee, Finance Lease, Renewal Term	5 years
Base Annual Rent Under Facility Lease	$ 1,638
Annual Rent Escalation	3.00%
Financing Obligation	$ 20,944
Effective Interest Rate	7.89%
Remainder of 2020	$ 1,316
Fiscal 2021	1,803
Fiscal 2022	1,857
Fiscal 2023	1,913
Fiscal 2024	1,970
Thereafter	17,405
Capital Leases, Future Minimum Payments Due	$ 26,264

Marketable Securities & Fair _3

Marketable Securities & Fair Value Measurements - Available-for-sale Measured at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Marketable Securities [Abstract]
Available-for-sale Securities, Current	$ 33,321	$ 38,193
Available-for-sale Securities, Noncurrent	12,294	9,832
Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Equity Securities, Amortized Cost Basis	45,513	47,947
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	109	78
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	(7)	0
Debt Securities, Available-for-sale	45,615	48,025
Marketable Securities [Abstract]
Total marketable securities	46,028	48,435
Recurring | Commercial Paper [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Equity Securities, Amortized Cost Basis	6,957	14,277
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	0	0
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	0	0
Debt Securities, Available-for-sale	6,957	14,277
Marketable Securities [Abstract]
Total marketable securities	6,957	14,277
Recurring | Corporate Debt Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Equity Securities, Amortized Cost Basis	28,932	26,466
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	95	64
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	(4)	0
Debt Securities, Available-for-sale	29,023	26,530
Marketable Securities [Abstract]
Total marketable securities	29,023	26,530
Recurring | Asset-backed Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Equity Securities, Amortized Cost Basis	9,624	7,204
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	14	14
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	(3)	0
Debt Securities, Available-for-sale	9,635	7,218
Marketable Securities [Abstract]
Total marketable securities	9,635	7,218
Recurring | Equity Funds [Member]
Marketable Securities [Abstract]
Total marketable securities	$ 413	$ 410

Marketable Securities & Fair _4

Marketable Securities & Fair Value Measurements - Fair Value Measurements (Details) - Recurring - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	$ 46,028	$ 48,435
Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	6,957	14,277
Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	29,023	26,530
Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	9,635	7,218
Equity Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	413	410
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	122	121
Level 1 | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Level 1 | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Level 1 | Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Level 1 | Equity Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	122	121
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	45,906	48,314
Level 2 | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	6,957	14,277
Level 2 | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	29,023	26,530
Level 2 | Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	9,635	7,218
Level 2 | Equity Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	291	289
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Level 3 | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Level 3 | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Level 3 | Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Level 3 | Equity Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	$ 0	$ 0

Marketable Securities & Fair _5

Marketable Securities & Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Jun. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Transfers of assets between Level 1 and Level 2	$ 0
Equity Securities without Readily Determinable Fair Value, Amount	5,593	$ 5,593
Other-than-temporary impairments	$ 0

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Aug. 31, 2018	Sep. 30, 2019	Nov. 15, 2017
Restricted Stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		1 year
Restricted Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based awards number preceding trading days		90 days
Grant Date Fair Value of Restricted Stock Awards, Quarterly Market Conditions		$ 6,330
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate shares based on thresholds measuring total shareholder return	207,891
Two Thousand Fourteen Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity awards available to grant under the 2014 and 2007 plans			0

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Award Activity (Details)	3 Months Ended
	Sep. 30, 2019$ / sharesshares
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Awards outstanding, balance at beginning of period (in shares) | shares	474,945
Awards granted (in shares) | shares	164,834
Awards forfeited (in shares) | shares	(8,022)
Awards vested (in shares) | shares	(153,921)
Awards outstanding, balance at end of period (in shares) | shares	477,836
Weighted Average Fair Value
Awards outstanding, balance at beginning of period (per share) | $ / shares	$ 31.36
Awards granted (per share) | $ / shares	46.97
Awards forfeited (per share) | $ / shares	32.57
Awards vested (per share) | $ / shares	30.37
Awards outstanding, balance at end of period (per share) | $ / shares	$ 36.86
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Awards outstanding, balance at beginning of period (in shares) | shares	753,872
Awards granted (in shares) | shares	207,891
Awards forfeited (in shares) | shares	(23,297)
Awards vested (in shares) | shares	(275,193)
Awards outstanding, balance at end of period (in shares) | shares	663,273
Weighted Average Fair Value
Awards outstanding, balance at beginning of period (per share) | $ / shares	$ 15.20
Awards granted (per share) | $ / shares	30.45
Awards forfeited (per share) | $ / shares	15.64
Awards vested (per share) | $ / shares	11.97
Awards outstanding, balance at end of period (per share) | $ / shares	$ 21.69
Minimum | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Jul. 01, 2019
Leases [Abstract]
Other assets	$ 769	$ 441
Operating lease liability	784	$ 463
Cumulative effect adjustment recorded to retained earnings	0
Operating Lease, Cost	121
Right-of-use asset obtained in exchange for operating lease liability	$ 437
Operating Lease, Weighted Average Remaining Lease Term	1 year 8 months 12 days
Operating Lease, Weighted Average Discount Rate, Percent	5.25%

Leases - Balance Sheet Informat

Leases - Balance Sheet Information (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jul. 01, 2019
Leases [Abstract]
Other assets	$ 769	$ 441
Accrued expenses	478
Other liabilities	306
Total operating lease liabilities	$ 784	$ 463

Leases, Assets and Liabilities

Leases, Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jul. 01, 2019
Lessee, Operating Lease, Liability, Payment, Due
Remainder of fiscal 2020	$ 382
Fiscal 2021	423
Fiscal 2022	11
Fiscal 2023	3
Fiscal 2024	2
Thereafter	0
Lessee, Operating Lease, Liability, Payments, Due, Total	821
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(37)
Operating lease liability	$ 784	$ 463

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Numerator
Net loss	$ (5,780)	$ (2,888)
Net income (loss) available to common stockholders	$ (5,780)	$ (2,888)
Denominator
Basic and diluted weighted average shares outstanding	33,870,224	33,425,065
Weighted average common shares outstanding – diluted	33,870,224	33,425,065
Earnings per share, basic and diluted
Earnings per common share – basic and diluted	$ (0.17)	$ (0.09)
Restricted Stock Units (RSUs)
Earnings per share, basic and diluted
Anti-dilutive shares (shares)	365,973	354,176
Performance Shares
Earnings per share, basic and diluted
Anti-dilutive shares (shares)	663,273	740,176

Uncategorized Items - csii-2019

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 0
AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(101,000)
Common Stock [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	0
Additional Paid-in Capital [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	0
Accumulated Distributions in Excess of Net Income [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 101,000