Cardiovascular Systems (CSII) 10-Q 4 Feb 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Dec. 31, 2020	Jan. 29, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
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 Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
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		40,191,937

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Current assets
Cash and cash equivalents	$ 73,783	$ 185,463
Marketable Securities, Current	151,272	46,691
Accounts Receivable, after Allowance for Credit Loss, Current	32,526	25,212
Inventory, Net	32,506	27,706
Prepaid expenses and other current assets	2,994	2,617
Total current assets	293,081	287,689
Property and equipment, net	28,123	27,810
Intangible assets, net	15,998	16,606
Other assets	11,734	7,414
Total assets	348,936	339,519
Current liabilities
Accounts payable	13,669	11,539
Accrued expenses	32,338	31,100
Deferred revenue current	2,078	1,867
Total current liabilities	48,085	44,506
Long-term liabilities
Financing obligation	20,716	20,818
Deferred revenue noncurrent	3,644	4,707
Other liabilities	2,659	696
Total liabilities	75,104	70,727
Commitments and contingencies (see Note 10)
Common stock, $0.001 par value; authorized 100,000,000 common shares; issued and outstanding 40,191,609 at December 31, 2020 and 39,675,865 at June 30, 2020, respectively	39	39
Additional paid in capital	642,702	631,559
Accumulated other comprehensive income	115	269
Accumulated deficit	(369,024)	(363,075)
Total stockholders’ equity	273,832	268,792
Total liabilities and stockholders’ equity	$ 348,936	$ 339,519

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Dec. 31, 2020	Jun. 30, 2020
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	40,191,609	39,675,865
Common stock, shares outstanding	40,191,609	39,675,865

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Net revenues	$ 64,169	$ 68,334	$ 124,713	$ 132,824
Cost of goods sold	13,920	13,718	26,484	26,390
Gross profit	50,249	54,616	98,229	106,434
Expenses:
Selling, general and administrative	40,061	46,867	80,343	93,619
Research and development	9,601	10,786	18,653	21,551
Amortization of intangible assets	304	337	608	571
Total expenses	49,966	57,990	99,604	115,741
Income (loss) from operations	283	(3,374)	(1,375)	(9,307)
Interest expense	412	500	911	972
Interest income and other, net	(136)	(517)	(280)	(1,180)
Total other (income) expense, net	276	(17)	631	(208)
Income (loss) before income taxes	7	(3,357)	(2,006)	(9,099)
Provision for income taxes	63	44	126	82
Net loss	$ (56)	$ (3,401)	$ (2,132)	$ (9,181)
Basic and diluted earnings per share
Earnings Per Share, Basic	$ 0	$ (0.10)	$ (0.06)	$ (0.27)
Earnings per common share – basic and diluted	$ 0	$ (0.10)	$ (0.06)	$ (0.27)
Basic and diluted weighted average shares outstanding
Basic weighted average shares outstanding	38,808,980	34,069,412	38,746,410	33,969,818
Diluted weighted average shares outstanding	38,808,980	34,069,412	38,746,410	33,969,818

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (56)	$ (3,401)	$ (2,132)	$ (9,181)
Other comprehensive (loss) income:
Unrealized loss on available-for-sale debt securities	(85)	(9)	(154)	15
Comprehensive loss	$ (141)	$ (3,410)	$ (2,286)	$ (9,166)

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 (Loss)	Accumulated Deficit
Beginning balance, value at Jun. 30, 2019	$ 147,944	$ 34	$ 477,368	$ 78	$ (329,536)
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 loss 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)				(5,780)
Ending balance, value at Sep. 30, 2019	142,074	34	482,760	102	(340,822)
Beginning balance, value at Jun. 30, 2019	147,944	34	477,368	78	(329,536)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unrealized loss on available-for-sale debt securities	15
Net loss	(9,181)
Ending balance, value at Dec. 31, 2019	143,305	34	487,780	93	(344,602)
Beginning balance, value at Sep. 30, 2019	142,074	34	482,760	102	(340,822)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Based Compensation Restricted Stock Awards Net	3,091		3,091
Shares withheld for payroll taxes	(379)				379
Stock Issued During Period, Value, Employee Stock Purchase Plan	1,929		1,929
Unrealized loss on available-for-sale debt securities	(9)	0	0	(9)	0
Net loss	(3,401)				(3,401)
Ending balance, value at Dec. 31, 2019	143,305	34	487,780	93	(344,602)
Beginning balance, value at Jun. 30, 2020	268,792
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Based Compensation Restricted Stock Awards Net	4,836		4,836
Shares withheld for payroll taxes	(3,410)				3,410
Stock Issued During Period, Value, Employee Stock Purchase Plan	332		332
Unrealized loss on available-for-sale debt securities	(69)			(69)
Net loss	(2,076)				(2,076)
Ending balance, value at Sep. 30, 2020	268,405	39	636,727	200	(368,561)
Beginning balance, value at Jun. 30, 2020	268,792
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unrealized loss on available-for-sale debt securities	(154)
Net loss	(2,132)
Ending balance, value at Dec. 31, 2020	273,832	39	642,702	115	(369,024)
Beginning balance, value at Sep. 30, 2020	268,405	39	636,727	200	(368,561)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Based Compensation Restricted Stock Awards Net	3,545		3,545
Shares withheld for payroll taxes	(407)				407
Stock Issued During Period, Value, Employee Stock Purchase Plan	2,430		2,430
Unrealized loss on available-for-sale debt securities	(85)			(85)
Net loss	(56)				(56)
Ending balance, value at Dec. 31, 2020	$ 273,832	$ 39	$ 642,702	$ 115	$ (369,024)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Net loss	$ (2,132)	$ (9,181)
Adjustments to reconcile net loss to net cash from operating activities
Depreciation of property and equipment	1,479	1,493
Amortization of intangible assets	608	571
Write-off of patent costs		771
Provision for doubtful accounts		450
Loss on disposal of equipment	138
Stock-based compensation	8,784	7,196
Amortization of premium (accretion of discount) on marketable securities	(625)	142
Changes in assets and liabilities
Accounts receivable	(7,314)	(268)
Inventories	(4,800)	(3,414)
Prepaid expenses and other assets	(108)	886
Accounts payable	2,192	5,409
Accrued expenses and other liabilities	913	(4,642)
Deferred revenue	(852)	(909)
Net cash used in operating activities	(467)	(1,780)
Cash flows from investing activities
Purchases of property and equipment	(1,992)	(1,080)
Payments To Acquire Intangible Assets Purchased		(5,741)
Payments to Acquire Debt Securities, Available-for-sale	(122,193)	(4,844)
Sales of marketable securities	2,485	85
Maturities of marketable securities	14,450	9,400
Costs incurred in connection with patents		(573)
Payments to Acquire Other Investments	(2,175)
Net cash used in investing activities	(109,425)	(2,753)
Cash flows from financing activities
Proceeds from employee stock purchase plan	2,098	1,687
Payments of employee taxes related to vested restricted stock	(3,817)	(5,885)
Proceeds from (Payments for) Other Financing Activities	(69)	(39)
Net cash used in financing activities	(1,788)	(4,237)
Net change in cash and cash equivalents	(111,680)	(8,770)
Cash and cash equivalents
Beginning of period	185,463	74,237
End of period	$ 73,783	$ 65,467

Basis of Presentation

Basis of Presentation	3 Months Ended
	Dec. 31, 2020
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, 2020. 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. The Company has been impacted by the COVID-19 pandemic. The full extent to which the COVID-19 pandemic will directly or indirectly impact the Company's business, results of operations and financial condition, including sales, expenses, reserves and allowances, manufacturing, clinical trials, research and development costs and employee-related amounts, will depend on future developments that are highly uncertain, including as a result of new information that may emerge concerning COVID-19 and the actions taken to contain or treat COVID-19, as well as the economic impact on the Company's customers and markets. The Company has made estimates of the impact of COVID-19 within these consolidated financial statements and there may be changes to those estimates in future periods. Actual results could differ from those estimates.

Selected Consolidated Financial

Selected Consolidated Financial Statement Information	6 Months Ended
	Dec. 31, 2020
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: December 31, June 30, 2020 2020 Accounts receivable $ 34,184 $ 26,971 Less: Allowance for doubtful accounts (1,658) (1,759) Accounts receivable, net $ 32,526 $ 25,212 Inventories Inventories consist of the following: December 31, June 30, 2020 2020 Raw materials $ 10,690 $ 8,508 Work in process 2,705 2,637 Finished goods 19,111 16,561 Inventories $ 32,506 $ 27,706 Property and Equipment, Net Property and equipment consists of the following: December 31, June 30, 2020 2020 Land $ 572 $ 572 Building 22,420 22,420 Equipment 18,893 18,255 Furniture 3,360 3,326 Leasehold improvements 681 672 Construction in progress 3,729 3,251 49,655 48,496 Less: Accumulated depreciation (21,532) (20,686) Property and equipment, net $ 28,123 $ 27,810 Accrued Expenses Accrued expenses consist of the following: December 31, June 30, 2020 2020 Acquisition consideration $ 10,000 $ 9,914 Commissions 5,965 2,122 Salaries and bonus 5,814 8,476 Accrued vacation 5,381 5,536 Accrued excise, sales and other taxes 1,860 2,145 Clinical studies 1,254 1,420 Other accrued expenses 2,064 1,487 Accrued expenses $ 32,338 $ 31,100

Revenue

Revenue	6 Months Ended
	Dec. 31, 2020
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 Six Months Ended December 31, December 31, Product Category 2020 2019 2020 2019 Peripheral $ 43,956 $ 47,580 $ 86,888 $ 93,109 Coronary 20,213 20,754 37,825 39,715 Total net revenues $ 64,169 $ 68,334 $ 124,713 $ 132,824 Geography United States $ 61,907 $ 65,960 $ 120,738 $ 127,489 International 2,262 2,374 3,975 5,335 Total net revenues $ 64,169 $ 68,334 $ 124,713 $ 132,824 Revenue of $851 was recognized in the six months ended December 31, 2020 that was deferred as of June 30, 2020. As of December 31, 2020 and June 30, 2020, the Company had a liability of $1,515 and $1,719, respectively, related to estimates of variable consideration which are recorded within accounts payable on the consolidated balance sheet.

Acquisition

Acquisition	6 Months Ended
	Dec. 31, 2020
Business Combinations [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 $15,624 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 be added to the carrying value of the acquired assets.

Intangible Assets

Intangible Assets	6 Months Ended
	Dec. 31, 2020
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: December 31, 2020 June 30, 2020 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Developed technology $ 15,624 $ (1,475) $ 14,149 $ 15,624 $ (955) $ 14,669 Patents 1,882 (721) 1,161 1,882 (659) 1,223 Trade name 760 (72) 688 760 (46) 714 Total intangible assets, net $ 18,266 $ (2,268) $ 15,998 $ 18,266 $ (1,660) $ 16,606 Amortization expense expected for the next five years and thereafter is as follows: Remainder of fiscal 2021 $ 608 Fiscal 2022 1,216 Fiscal 2023 1,212 Fiscal 2024 1,208 Fiscal 2025 1,205 Thereafter 10,549 $ 15,998

Debt

Debt	6 Months Ended
	Dec. 31, 2020
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”). In March 2020, the Company entered into the First Amendment to the Loan Agreement (the "Amendment"). The Amendment extended the maturity date of the Loan Agreement by two years, to March 31, 2022, and increased the maximum amount available under the senior, secured revolving credit facility (the “Revolver”) to $50,000 (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 bears interest at a floating per annum rate equal to the Wall Street Journal prime rate, less 0.75%. Interest on borrowings is due monthly and the principal balance is due at maturity. 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 3% of the Maximum Dollar Amount upon termination of the Loan Agreement, as amended by the Amendment (the "Amended Loan Agreement"), or the Revolver for any reason prior to the date that is fifteen days prior to the maturity date, unless refinanced with SVB. The Company’s obligations under the Amended 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 Amended 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 Amended 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 Amended Loan Agreement or an event of default under the Amended Loan Agreement occurs, such as a material adverse change, the interest rate on outstanding amounts will increase by 5% and SVB may, subject to various customary cure rights and the other terms and conditions of the Amended Loan Agreement, decline to provide additional advances under the Revolver, require the immediate payment of all amounts outstanding under the Revolver, and foreclose on all collateral. The Company is required to pay a fee equal to 0.15% 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 December 31, 2020. 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 December 31, 2020 are as follows: Remainder of fiscal 2021 $ 908 Fiscal 2022 1,857 Fiscal 2023 1,913 Fiscal 2024 1,970 Fiscal 2025 2,029 Thereafter 15,376 $ 24,053

Marketable Securities & Fair Va

Marketable Securities & Fair Value Measurements	6 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Investments	7. Marketable Securities & Fair Value Measurements The Company’s marketable securities are classified on the consolidated balance sheet as follows: December 31, June 30, 2020 2020 Short-term available-for-sale debt securities $ 140,825 $ 40,088 Long-term available-for-sale debt securities 10,158 6,276 Available-for-sale debt securities 150,983 46,364 Mutual funds 289 327 Total marketable securities $ 151,272 $ 46,691 Available-for-sale debt securities are invested in the following financial instruments: As of December 31, 2020 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Commercial paper $ 42,157 $ — $ — $ 42,157 U.S. government securities 46,559 2 (2) 46,559 Corporate debt 48,827 95 (10) 48,912 Asset backed securities 13,326 29 — 13,355 Total available-for-sale debt securities $ 150,869 $ 126 $ (12) $ 150,983 As of June 30, 2020 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Commercial paper $ 9,778 $ — $ — $ 9,778 U.S. government securities 6,120 1 — 6,121 Corporate debt 21,267 232 (1) 21,498 Asset backed securities 8,930 37 — 8,967 Total available-for-sale debt securities $ 46,095 $ 270 $ (1) $ 46,364 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 December 31, 2020 Using Inputs Considered as Fair Value Level 1 Level 2 Level 3 Commercial paper $ 42,157 $ — $ 42,157 $ — U.S. government securities 46,559 — 46,559 — Corporate debt 48,912 — 48,912 — Asset backed securities 13,355 — 13,355 — Mutual funds 289 115 174 — Total marketable securities $ 151,272 $ 115 $ 151,157 $ — Fair Value Measurements as of June 30, 2020 Using Inputs Considered as Fair Value Level 1 Level 2 Level 3 Commercial paper $ 9,778 $ — $ 9,778 $ — U.S. government securities 6,121 — 6,121 — Corporate debt 21,498 — 21,498 — Asset backed securities 8,967 — 8,967 — Mutual funds 327 99 228 — Total marketable securities $ 46,691 $ 99 $ 46,592 $ — 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 six months ended December 31, 2020. Any transfers between levels would be recognized on the date of the event or when a change in circumstances causes a transfer. Strategic Investments The Company holds equity investments that do not have readily determined fair values. The Company has elected to measure these investments at cost minus impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. Impairment is reviewed each reporting period by performing a qualitative assessment considering impairment indicators to evaluate whether the investment is impaired.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Dec. 31, 2020
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”). On March 12, 2020, the Company’s Board of Directors approved the Amended and Restated 2017 Equity Incentive Plan, which amends the 2017 Plan. 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 six months ended December 31, 2020 is as follows: Number of Weighted Outstanding at June 30, 2020 434,067 $ 38.34 Granted 295,165 $ 31.13 Forfeited (13,914) $ 36.88 Vested (182,018) $ 37.57 Outstanding at December 31, 2020 533,300 $ 34.77 Performance-Based Restricted Stock The Company also grants performance-based restricted stock awards to certain executives and other management. In August 2020, the Company granted an aggregate maximum of 339,395 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, 2020 compared to the closing prices of the stock of the Company and the peer group members for the 90 trading days preceding July 1, 2023. 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, 2023 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 $4,330, 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 2019 and 2020 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, 2018 and July 1, 2019, 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, 2021 and July 1, 2022, respectively. Performance-based restricted stock award activity for the six months ended December 31, 2020 is as follows: Number of Weighted Outstanding at June 30, 2020 660,622 $ 21.69 Granted 339,395 $ 12.75 Forfeited (72,549) $ 13.64 Vested (166,086) $ 13.96 Outstanding at December 31, 2020 761,382 $ 20.26

Leases

Leases	6 Months Ended
	Dec. 31, 2020
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 facility under an operating lease agreement. During the six months ended December 31, 2020, the Company exercised its option to extend the term of this lease agreement by five years, so that it now expires in April 2026, and entered into an amendment for this extended period. The Company also leases office equipment under lease agreements that expire at various dates through April 2024. As discussed in Note 6, the Company also leases its Minnesota headquarters facility which is 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 was $252 and $241 for the six months ended December 31, 2020 and 2019, respectively. Cash paid for operating lease liabilities approximated operating lease cost for the six months ended December 31, 2020. There were $2,238 and $437 of operating lease right-of-use assets obtained in exchange for new lease liabilities during the six months ended December 31, 2020 and 2019, respectively. December 31, June 30, 2020 2020 Right-of-use assets Other assets $ 2,434 $ 427 Operating lease liabilities Accrued expenses 493 412 Other liabilities 1,941 15 Total operating lease liabilities $ 2,434 $ 427 Future minimum lease payments under the agreements as of December 31, 2020 are as follows: Remainder of fiscal 2021 $ 251 Fiscal 2022 494 Fiscal 2023 486 Fiscal 2024 485 Fiscal 2025 483 Thereafter 403 Total lease payments 2,602 Less imputed interest (168) Total operating lease liabilities $ 2,434 As of December 31, 2020, the weighted average remaining lease term for operating leases was 5.3 years and the weighted average discount rate used to determine operating lease liabilities was 2.54%.

Commitment and Contingencies

Commitment and Contingencies	6 Months Ended
	Dec. 31, 2020
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 December 31, 2020 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	6 Months Ended
	Dec. 31, 2020
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 Six Months Ended December 31, December 31, 2020 2019 2020 2019 Numerator Net (loss) income $ (56) $ (3,401) $ (2,132) $ (9,181) Income allocated to participating securities — — — — Net (loss) income available to common stockholders $ (56) $ (3,401) $ (2,132) $ (9,181) Denominator Weighted average common shares outstanding – basic (1) 38,808,980 34,069,412 38,746,410 33,969,818 Effect of dilutive restricted stock units (2) — — — — Effect of performance-based restricted stock awards (3) — — — — Weighted average common shares outstanding – diluted 38,808,980 34,069,412 38,746,410 33,969,818 Earnings per common share – basic and diluted $ — $ (0.10) $ (0.06) $ (0.27) (1) The increase in weighted average shares outstanding is primarily from the Company's offering of common stock completed in June 2020. (2) At December 31, 2020 and 2019, 281,430 and 365,818 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 all periods presented because those shares are anti-dilutive. (3) At December 31, 2020 and 2019, 761,382 and 661,314 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 all periods presented 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,

Selected Consolidated Financi_2

Selected Consolidated Financial Statement Information (Tables)	6 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of Accounts Receivable	December 31, June 30, 2020 2020 Accounts receivable $ 34,184 $ 26,971 Less: Allowance for doubtful accounts (1,658) (1,759) Accounts receivable, net $ 32,526 $ 25,212
Schedule of Inventory	December 31, June 30, 2020 2020 Raw materials $ 10,690 $ 8,508 Work in process 2,705 2,637 Finished goods 19,111 16,561 Inventories $ 32,506 $ 27,706
Schedule of Property and Equipment	December 31, June 30, 2020 2020 Land $ 572 $ 572 Building 22,420 22,420 Equipment 18,893 18,255 Furniture 3,360 3,326 Leasehold improvements 681 672 Construction in progress 3,729 3,251 49,655 48,496 Less: Accumulated depreciation (21,532) (20,686) Property and equipment, net $ 28,123 $ 27,810
Schedule of Accrued Expenses	December 31, June 30, 2020 2020 Acquisition consideration $ 10,000 $ 9,914 Commissions 5,965 2,122 Salaries and bonus 5,814 8,476 Accrued vacation 5,381 5,536 Accrued excise, sales and other taxes 1,860 2,145 Clinical studies 1,254 1,420 Other accrued expenses 2,064 1,487 Accrued expenses $ 32,338 $ 31,100

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Three Months Ended Six Months Ended December 31, December 31, Product Category 2020 2019 2020 2019 Peripheral $ 43,956 $ 47,580 $ 86,888 $ 93,109 Coronary 20,213 20,754 37,825 39,715 Total net revenues $ 64,169 $ 68,334 $ 124,713 $ 132,824 Geography United States $ 61,907 $ 65,960 $ 120,738 $ 127,489 International 2,262 2,374 3,975 5,335 Total net revenues $ 64,169 $ 68,334 $ 124,713 $ 132,824

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	December 31, 2020 June 30, 2020 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Developed technology $ 15,624 $ (1,475) $ 14,149 $ 15,624 $ (955) $ 14,669 Patents 1,882 (721) 1,161 1,882 (659) 1,223 Trade name 760 (72) 688 760 (46) 714 Total intangible assets, net $ 18,266 $ (2,268) $ 15,998 $ 18,266 $ (1,660) $ 16,606
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Remainder of fiscal 2021 $ 608 Fiscal 2022 1,216 Fiscal 2023 1,212 Fiscal 2024 1,208 Fiscal 2025 1,205 Thereafter 10,549 $ 15,998

Debt (Tables)

Debt (Tables)	6 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of future minimum lease payments	Remainder of fiscal 2021 $ 908 Fiscal 2022 1,857 Fiscal 2023 1,913 Fiscal 2024 1,970 Fiscal 2025 2,029 Thereafter 15,376 $ 24,053

Marketable Securities & Fair _2

Marketable Securities & Fair Value Measurements (Tables)	6 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Marketable Securities	December 31, June 30, 2020 2020 Short-term available-for-sale debt securities $ 140,825 $ 40,088 Long-term available-for-sale debt securities 10,158 6,276 Available-for-sale debt securities 150,983 46,364 Mutual funds 289 327 Total marketable securities $ 151,272 $ 46,691
Schedule of Available-for-sale Securities Reconciliation	As of December 31, 2020 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Commercial paper $ 42,157 $ — $ — $ 42,157 U.S. government securities 46,559 2 (2) 46,559 Corporate debt 48,827 95 (10) 48,912 Asset backed securities 13,326 29 — 13,355 Total available-for-sale debt securities $ 150,869 $ 126 $ (12) $ 150,983 As of June 30, 2020 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Commercial paper $ 9,778 $ — $ — $ 9,778 U.S. government securities 6,120 1 — 6,121 Corporate debt 21,267 232 (1) 21,498 Asset backed securities 8,930 37 — 8,967 Total available-for-sale debt securities $ 46,095 $ 270 $ (1) $ 46,364
Fair Value, Assets Measured on Recurring Basis	Fair Value Measurements as of December 31, 2020 Using Inputs Considered as Fair Value Level 1 Level 2 Level 3 Commercial paper $ 42,157 $ — $ 42,157 $ — U.S. government securities 46,559 — 46,559 — Corporate debt 48,912 — 48,912 — Asset backed securities 13,355 — 13,355 — Mutual funds 289 115 174 — Total marketable securities $ 151,272 $ 115 $ 151,157 $ — Fair Value Measurements as of June 30, 2020 Using Inputs Considered as Fair Value Level 1 Level 2 Level 3 Commercial paper $ 9,778 $ — $ 9,778 $ — U.S. government securities 6,121 — 6,121 — Corporate debt 21,498 — 21,498 — Asset backed securities 8,967 — 8,967 — Mutual funds 327 99 228 — Total marketable securities $ 46,691 $ 99 $ 46,592 $ —

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement, Disclosure [Abstract]
Restricted Stock Award Activity	Number of Weighted Outstanding at June 30, 2020 434,067 $ 38.34 Granted 295,165 $ 31.13 Forfeited (13,914) $ 36.88 Vested (182,018) $ 37.57 Outstanding at December 31, 2020 533,300 $ 34.77
Performance Based RSA Activity	Number of Weighted Outstanding at June 30, 2020 660,622 $ 21.69 Granted 339,395 $ 12.75 Forfeited (72,549) $ 13.64 Vested (166,086) $ 13.96 Outstanding at December 31, 2020 761,382 $ 20.26

Leases (Tables)

Leases (Tables)	6 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Lessee, Operating Lease, Liability, Maturity	December 31, June 30, 2020 2020 Right-of-use assets Other assets $ 2,434 $ 427 Operating lease liabilities Accrued expenses 493 412 Other liabilities 1,941 15 Total operating lease liabilities $ 2,434 $ 427
Schedule of Future Minimum Lease Payments for Operating Leases	Remainder of fiscal 2021 $ 251 Fiscal 2022 494 Fiscal 2023 486 Fiscal 2024 485 Fiscal 2025 483 Thereafter 403 Total lease payments 2,602 Less imputed interest (168) Total operating lease liabilities $ 2,434

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Dec. 31, 2020
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 Six Months Ended December 31, December 31, 2020 2019 2020 2019 Numerator Net (loss) income $ (56) $ (3,401) $ (2,132) $ (9,181) Income allocated to participating securities — — — — Net (loss) income available to common stockholders $ (56) $ (3,401) $ (2,132) $ (9,181) Denominator Weighted average common shares outstanding – basic (1) 38,808,980 34,069,412 38,746,410 33,969,818 Effect of dilutive restricted stock units (2) — — — — Effect of performance-based restricted stock awards (3) — — — — Weighted average common shares outstanding – diluted 38,808,980 34,069,412 38,746,410 33,969,818 Earnings per common share – basic and diluted $ — $ (0.10) $ (0.06) $ (0.27) (1) The increase in weighted average shares outstanding is primarily from the Company's offering of common stock completed in June 2020. (2) At December 31, 2020 and 2019, 281,430 and 365,818 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 all periods presented because those shares are anti-dilutive. (3) At December 31, 2020 and 2019, 761,382 and 661,314 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 all periods presented because those shares are anti-dilutive.

Selected Consolidated Financi_3

Selected Consolidated Financial Statement Information - Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Accounts Receivable
Accounts receivable	$ 34,184	$ 26,971
Less: Allowance for doubtful accounts	(1,658)	(1,759)
Accounts receivable, net	$ 32,526	$ 25,212

Selected Consolidated Financi_4

Selected Consolidated Financial Statement Information - Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Inventories
Raw materials	$ 10,690	$ 8,508
Work in process	2,705	2,637
Finished goods	19,111	16,561
Inventories	$ 32,506	$ 27,706

Selected Consolidated Financi_5

Selected Consolidated Financial Statement Information - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Property and Equipment
Land	$ 572	$ 572
Building	22,420	22,420
Equipment	18,893	18,255
Furniture	3,360	3,326
Leasehold improvements	681	672
Construction in progress	3,729	3,251
Property and equipment, gross	49,655	48,496
Less: Accumulated depreciation	(21,532)	(20,686)
Property and equipment, net	$ 28,123	$ 27,810

Selected Consolidated Financi_6

Selected Consolidated Financial Statement Information - Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Accrued Expenses
Acquisition consideration	$ 10,000	$ 9,914
Commissions	5,965	2,122
Salaries and bonus	5,814	8,476
Accrued vacation	5,381	5,536
Accrued excise, sales and other taxes	1,860	2,145
Clinical studies	1,254	1,420
Other accrued expenses	2,064	1,487
Accrued expenses	$ 32,338	$ 31,100

Revenue - Disaggregate (Details

Revenue - Disaggregate (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Net revenues	$ 64,169	$ 68,334	$ 124,713	$ 132,824
United States
Disaggregation of Revenue [Line Items]
Net revenues	61,907	65,960	120,738	127,489
International
Disaggregation of Revenue [Line Items]
Net revenues	2,262	2,374	3,975	5,335
Peripheral
Disaggregation of Revenue [Line Items]
Net revenues	43,956	47,580	86,888	93,109
Coronary
Disaggregation of Revenue [Line Items]
Net revenues	$ 20,213	$ 20,754	$ 37,825	$ 39,715

Revenue - Narratives (Details)

Revenue - Narratives (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2020	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue recognized previously deferred	$ 851
Volume-based rebates, discounts and incentives, current	$ 1,515	$ 1,719

Acquisition (Details)

Acquisition (Details) - USD ($) $ in Thousands	Aug. 05, 2019	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2020	Jun. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Consideration Transferred		$ 1,346
Payments to Acquire Intangible Assets			$ 573
Finite-Lived Intangible Assets, Gross				$ 18,266	$ 18,266
Developed Technology Rights
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finite-Lived Intangible Assets, Gross				15,624	15,624
Trade Names
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finite-Lived Intangible Assets, Gross				$ 760	$ 760
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 amount	3,000
Net revenue increment to achieve milestone payments	10,000
Net revenue threshold to exceed before milestone payments can be achieved	30,000
WIRION Embolic Protection System | Developed Technology Rights
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finite-Lived Intangible Assets, Gross	15,624
WIRION Embolic Protection System | Trade Names
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
	Dec. 31, 2020	Jun. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 18,266	$ 18,266
Finite-Lived Intangible Assets, Accumulated Amortization	(2,268)	(1,660)
Finite-Lived Intangible Assets, Net, Total	$ 15,998	16,606
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	15,624
Finite-Lived Intangible Assets, Accumulated Amortization	(1,475)	(955)
Finite-Lived Intangible Assets, Net, Total	$ 14,149	14,669
Patents
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	20 years
Finite-Lived Intangible Assets, Gross	$ 1,882	1,882
Finite-Lived Intangible Assets, Accumulated Amortization	(721)	(659)
Finite-Lived Intangible Assets, Net, Total	1,161	1,223
Trade Names
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	760	760
Finite-Lived Intangible Assets, Accumulated Amortization	(72)	(46)
Finite-Lived Intangible Assets, Net, Total	$ 688	$ 714

Intangible Assets - Amortizatio

Intangible Assets - Amortization (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of fiscal 2021	$ 608
Fiscal 2022	1,216
Fiscal 2023	1,212
Fiscal 2024	1,208
Fiscal 2025	1,205
Thereafter	10,549
Finite-Lived Intangible Assets, Net, Total	$ 15,998	$ 16,606

Debt - Revolving Credit Facilit

Debt - Revolving Credit Facility (Details) - Silicon Valley Bank - Revolving Credit Facility - USD ($) $ in Thousands	1 Months Ended
	Mar. 31, 2020	Dec. 31, 2020
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 50,000
Line of Credit Facility, Expiration Date	Mar. 31, 2022
Percent Reduction to Prime Interest Rate	0.75%
Early Termination Fee		3.00%
Covenant, Unused Availability	$ 10,000
Covenant, Adjusted EBITDA	$ 1,000
Interest Rate Increase For Noncompliance	5.00%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.15%
Line of Credit Facility, Fair Value of Amount Outstanding		$ 0

Debt - Financing Obligation (De

Debt - Financing Obligation (Details) - Capital Lease Obligations [Member] $ in Thousands	6 Months Ended
	Dec. 31, 2020USD ($)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%
Capital Leases, Future Minimum Payments, Remainder of Fiscal Year	$ 908
Fiscal 2022	1,857
Fiscal 2023	1,913
Fiscal 2024	1,970
Fiscal 2025	2,029
Thereafter	15,376
Capital Leases, Future Minimum Payments Due	$ 24,053

Marketable Securities & Fair _3

Marketable Securities & Fair Value Measurements - Available-for-sale Measured at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Marketable Securities [Abstract]
Available-for-sale Securities, Current	$ 140,825	$ 40,088
Available-for-sale Securities, Noncurrent	10,158	6,276
Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Equity Securities, Amortized Cost Basis	150,869	46,095
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	126	270
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	(12)	(1)
Debt Securities, Available-for-sale	150,983	46,364
Marketable Securities [Abstract]
Total marketable securities	151,272	46,691
Recurring | Commercial Paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Equity Securities, Amortized Cost Basis	42,157	9,778
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	42,157	9,778
Marketable Securities [Abstract]
Total marketable securities	42,157	9,778
Recurring | Corporate Debt Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Equity Securities, Amortized Cost Basis	48,827	21,267
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	95	232
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	(10)	(1)
Debt Securities, Available-for-sale	48,912	21,498
Marketable Securities [Abstract]
Total marketable securities	48,912	21,498
Recurring | Asset-backed Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Equity Securities, Amortized Cost Basis	13,326	8,930
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	29	37
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	0	0
Debt Securities, Available-for-sale	13,355	8,967
Marketable Securities [Abstract]
Total marketable securities	13,355	8,967
Recurring | Equity Funds
Marketable Securities [Abstract]
Total marketable securities	289	327
Recurring | U.S. government securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Equity Securities, Amortized Cost Basis	46,559	6,120
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	2	1
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	(2)	0
Debt Securities, Available-for-sale	46,559	6,121
Marketable Securities [Abstract]
Total marketable securities	$ 46,559	$ 6,121

Marketable Securities & Fair _4

Marketable Securities & Fair Value Measurements - Fair Value Measurements (Details) - Recurring - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	$ 151,272	$ 46,691
Commercial Paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	42,157	9,778
U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	46,559	6,121
Corporate Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	48,912	21,498
Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	13,355	8,967
Equity Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	289	327
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	115	99
Level 1 | Commercial Paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Level 1 | U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Level 1 | Corporate Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Level 1 | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Level 1 | Equity Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	115	99
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	151,157	46,592
Level 2 | Commercial Paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	42,157	9,778
Level 2 | U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	46,559	6,121
Level 2 | Corporate Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	48,912	21,498
Level 2 | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	13,355	8,967
Level 2 | Equity Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	174	228
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Level 3 | Commercial Paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Level 3 | U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Level 3 | Corporate Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Level 3 | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Level 3 | Equity Funds
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	1 Months Ended	3 Months Ended	6 Months Ended
	Jan. 31, 2021	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Transfers of assets between Level 1 and Level 2		$ 0	$ 0
Equity Securities without Readily Determinable Fair Value, Amount		6,771	6,771		$ 6,306
Future payments to acquire long-term investments		2,750
Payments to Acquire Debt Securities, Available-for-sale			122,193	$ 4,844
Other-than-temporary impairments			0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale		$ 1,675	$ 1,675
Subsequent Event
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payments to Acquire Debt Securities, Available-for-sale	$ 5,399

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
	Aug. 31, 2018	Dec. 31, 2020	Dec. 31, 2020	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		$ 4,330
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate shares based on thresholds measuring total shareholder return	339,395
Two Thousand Fourteen Plan
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)	6 Months Ended
	Dec. 31, 2020$ / 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)	434,067
Awards granted (in shares)	295,165
Awards forfeited (in shares)	(13,914)
Awards vested (in shares)	(182,018)
Awards outstanding, balance at end of period (in shares)	533,300
Weighted Average Fair Value
Awards outstanding, balance at beginning of period (per share) | $ / shares	$ 38.34
Awards granted (per share) | $ / shares	31.13
Awards forfeited (per share) | $ / shares	36.88
Awards vested (per share) | $ / shares	37.57
Awards outstanding, balance at end of period (per share) | $ / shares	$ 34.77
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	182,018
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)	660,622
Awards granted (in shares)	339,395
Awards forfeited (in shares)	(72,549)
Awards vested (in shares)	(166,086)
Awards outstanding, balance at end of period (in shares)	761,382
Weighted Average Fair Value
Awards outstanding, balance at beginning of period (per share) | $ / shares	$ 21.69
Awards granted (per share) | $ / shares	12.75
Awards forfeited (per share) | $ / shares	13.64
Awards vested (per share) | $ / shares	13.96
Awards outstanding, balance at end of period (per share) | $ / shares	$ 20.26
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	166,086
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	6 Months Ended
	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2020	Jul. 01, 2019
Leases [Abstract]
Other assets	$ 2,434	$ 2,434		$ 427	$ 441
Operating lease liability	2,434	2,434		$ 427	$ 463
Cumulative effect on retained earnings net of taxes	$ 0
Operating lease, cost		252	$ 241
Right-of-use asset obtained in exchange for operating lease liability		$ 2,238	$ 437
Operating Lease, Weighted Average Remaining Lease Term	5 years 3 months 18 days	5 years 3 months 18 days
Operating Lease, Weighted Average Discount Rate, Percent	2.54%	2.54%

Leases - Balance Sheet Informat

Leases - Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020	Jul. 01, 2019
Leases [Abstract]
Other assets	$ 2,434	$ 427	$ 441
Accrued expenses	493	412
Other liabilities	1,941	15
Total operating lease liabilities	$ 2,434	$ 427	$ 463

Leases, Assets and Liabilities

Leases, Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020	Jul. 01, 2019
Lessee, Operating Lease, Liability, Payment, Due
Remainder of fiscal 2021	$ 251
Fiscal 2022	494
Fiscal 2023	486
Fiscal 2024	485
Fiscal 2025	483
Thereafter	403
Lessee, Operating Lease, Liability, Payments, Due, Total	2,602
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(168)
Operating lease liability	$ 2,434	$ 427	$ 463

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2020
Numerator
Net loss	$ (56)	$ (2,076)	$ (3,401)	$ (5,780)	$ (2,132)	$ (9,181)
Net (loss) income available to common stockholders	$ (56)		$ (3,401)		$ (2,132)	$ (9,181)
Denominator
Basic and diluted weighted average shares outstanding	38,808,980		34,069,412		38,746,410	33,969,818
Weighted average common shares outstanding – diluted	38,808,980		34,069,412		38,746,410	33,969,818
Earnings per share, basic and diluted
Earnings per common share – basic and diluted	$ 0		$ (0.10)		$ (0.06)	$ (0.27)
Common stock, shares outstanding	40,191,609				40,191,609		39,675,865
Restricted Stock Units (RSUs)
Earnings per share, basic and diluted
Common stock, shares outstanding	281,430		365,818		281,430	365,818
Performance Shares
Earnings per share, basic and diluted
Common stock, shares outstanding	761,382		661,314		761,382	661,314