Cardiovascular Systems (CSII) 10-K 18 Aug 22 2022 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Aug. 11, 2022	Dec. 31, 2021
Document and Entity Information [Abstract]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2022
Current Fiscal Year End Date	--06-30
Entity File Number	000-52082
Entity Registrant Name	CARDIOVASCULAR SYSTEMS, INC.
Entity Incorporation, State or Country Code	DE
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
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 Well-known Seasoned Issuer	No
Entity Interactive Data Current	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
ICFR Auditor Attestation Flag	true
Entity Small Business	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Public Float			$ 736.5
Entity Common Stock, Shares Outstanding		40,964,920
Entity Central Index Key	0001180145
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Emerging Growth Company	false

Audit Information

Audit Information	12 Months Ended
	Jun. 30, 2022
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Minneapolis, Minnesota
Auditor Firm ID	238

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Current assets
Cash and cash equivalents	$ 66,424	$ 71,070
Marketable securities	93,409	135,968
Accounts receivable, net	39,678	40,033
Inventories	34,567	32,313
Prepaid expenses and other current assets	7,768	5,285
Total current assets	241,846	284,669
Property and equipment, net	29,035	28,894
Intangible assets, net	15,734	15,376
Strategic investments	33,425	20,657
Other assets	2,637	2,971
Total assets	322,677	352,567
Current liabilities
Accounts payable	14,383	14,061
Accrued expenses	23,464	38,189
Deferred revenue	2,107	2,400
Total current liabilities	39,954	54,650
Long-term liabilities
Financing obligation	20,298	20,596
Deferred revenue	0	2,194
Other liabilities	12,945	4,169
Total liabilities	73,197	81,609
Commitments and contingencies
Common stock, $0.001 par value; authorized 100,000,000 common shares; issued and outstanding 40,965,202 at June 30, 2022 and 40,215,554 at June 30, 2021	40	39
Additional paid in capital	673,388	652,288
Accumulated other comprehensive income	(268)	11
Accumulated deficit	(423,680)	(381,380)
Total stockholders’ equity	249,480	270,958
Total liabilities and stockholders’ equity	$ 322,677	$ 352,567

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Jun. 30, 2021
Statement of Financial Position [Abstract]
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	40,965,202	40,215,554
Common stock, shares outstanding	40,965,202	40,215,554

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Net revenues	$ 236,222	$ 258,973	$ 236,545
Cost of goods sold	63,440	61,131	48,759
Gross profit	172,782	197,842	187,786
Expenses:
Selling, general and administrative	170,526	167,498	169,969
Research and development	36,720	41,061	43,355
Amortization of intangible assets	1,342	1,216	1,234
Total expenses	208,588	209,775	214,558
Loss from operations	(35,806)	(11,933)	(26,772)
Interest expense	1,634	1,735	1,973
Interest income and other, net	(817)	(499)	(1,740)
Total other (income) expense	817	1,236	233
Loss before income taxes	(36,623)	(13,169)	(27,005)
Provision for income taxes	310	252	231
Net loss	$ (36,933)	$ (13,421)	$ (27,236)
Net loss per common share:
Earnings per common share - basic (in dollars per share)	$ (0.94)	$ (0.35)	$ (0.79)
Earnings per common share - diluted (in dollars per share)	$ (0.94)	$ (0.35)	$ (0.79)
Weighted average common shares outstanding - basic (in shares)	39,229,734	38,832,002	34,275,957
Weighted average common shares outstanding - diluted (in shares)	39,229,734	38,832,002	34,275,957

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss Statement - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (36,933)	$ (13,421)	$ (27,236)
Other comprehensive (loss) income:
Unrealized loss on available-for-sale debt securities	(279)	(258)	191
Adjustment for net gain realized and included in interest income and other, net	0	0	0
Total change in unrealized (loss) gain on available for sale securities	(279)	(258)	191
Comprehensive loss	$ (37,212)	$ (13,679)	$ (27,045)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid  In Capital	Accumulated Other Comprehensive Income	Accumulated Deficit
Balance at beginning of period at Jun. 30, 2019	$ 147,944	$ 34	$ 477,368	$ 78	$ (329,536)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds from offering of common stock	134,979	5	134,974	0	0
Stock-based compensation related to restricted stock awards, net	12,677	0	12,677	0	0
Shares withheld for payroll taxes	(6,303)	0	0	0	(6,303)
Employee stock purchase plan activity	5,194	0	5,194	0	0
Unrealized loss on available-for-sale debt securities	191	0	0	191	0
Stock issued for acquisitions	1,346	0	1,346	0	0
Net loss	(27,236)	0	0	0	(27,236)
Balance at end of period at Jun. 30, 2020	268,792	39	631,559	269	(363,075)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds from offering of common stock	0
Stock-based compensation related to restricted stock awards, net	15,080	0	15,080	0	0
Shares withheld for payroll taxes	(4,884)	0	0	0	4,884
Employee stock purchase plan activity	5,649	0	5,649	0	0
Unrealized loss on available-for-sale debt securities	(258)	0	0	(258)	0
Net loss	(13,421)	0	0	0	(13,421)
Balance at end of period at Jun. 30, 2021	270,958	39	652,288	11	(381,380)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds from offering of common stock	0
Stock-based compensation related to restricted stock awards, net	16,297	1	16,296	0	0
Shares withheld for payroll taxes	(5,367)	0	0	0	(5,367)
Exercise of stock options	12	0	12	0	0
Employee stock purchase plan activity	4,792	0	4,792	0	0
Unrealized loss on available-for-sale debt securities	(279)	0	0	(279)	0
Net loss	(36,933)	0	0	0	(36,933)
Balance at end of period at Jun. 30, 2022	$ 249,480	$ 40	$ 673,388	$ (268)	$ (423,680)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Net loss	$ (36,933)	$ (13,421)	$ (27,236)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation of property and equipment	3,687	3,096	2,945
Amortization of intangible assets	1,342	1,216	1,234
Charges incurred in connection with acquired IPR&D	0	3,353	0
Provision for doubtful accounts	150	0	1,300
Write-off of patent costs	0	0	4,206
Stock-based compensation	17,841	16,230	13,612
Accretion (Amortization) of Discounts and Premiums, Investments	1,240	1,432	(109)
Other	(391)	268	170
Changes in assets and liabilities
Accounts receivable	205	(14,821)	9,503
Inventories	(2,254)	(4,607)	(9,648)
Prepaid expenses and other assets	(1,271)	(1,962)	1,319
Accounts payable	677	2,073	576
Accrued expenses and other liabilities	(6,078)	8,239	(8,906)
Deferred revenue	(2,487)	(1,980)	(1,731)
Net cash used in operating activities	(24,272)	(884)	(12,765)
Cash flows from investing activities
Expenditures for property and equipment	(4,220)	(3,954)	(3,369)
Acquisitions	(1,700)	(3,353)	(5,741)
Purchases of long-term investments	(12,340)	(14,404)	(750)
Purchases of marketable securities	(111,983)	(199,138)	(38,782)
Sales of marketable securities	15,792	6,885	7,290
Maturities of marketable securities	136,612	101,255	33,400
Costs incurred in connection with patents	0	0	(717)
Net cash provided by (used in) investing activities	22,161	(112,709)	(8,669)
Cash flows from financing activities
Proceeds from the employee stock purchase plan	3,042	4,238	4,076
Payment of employee taxes related to vested restricted stock	(5,367)	(4,884)	(6,303)
Exercise of stock options	12	0	0
Proceeds from offering of common stock	0	0	134,979
Principal payments made on financing obligation	(222)	(154)	(92)
Net cash (used in) provided by financing activities	(2,535)	(800)	132,660
Net change in cash and cash equivalents	(4,646)	(114,393)	111,226
Cash and cash equivalents
Beginning of period	71,070	185,463	74,237
End of period	66,424	71,070	185,463
Supplemental cash flow information
Interest paid	$ 1,634	$ 1,649	$ 1,659

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies Company Description Cardiovascular Systems, Inc. (the “Company”), based in St. Paul, Minn., is a medical technology 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. Principles of Consolidation The consolidated balance sheets and statements of operations, comprehensive income, changes in stockholders’ equity, and cash flows include the accounts of the Company and its wholly-owned subsidiary, after elimination of all intercompany transactions and accounts. Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with accounting principles generally accepted in the United States of America 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 outbreak of COVID-19. 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. Cash and Cash Equivalents The Company considers all money market funds and other investments purchased with an original maturity of three months or less to be cash and cash equivalents. Marketable Securities The Company’s marketable securities consist predominately of available-for-sale debt securities and were valued in accordance with the fair value measurement guidance. Available-for-sale debt securities are carried at fair value with unrealized gains and losses reported as a component of stockholders’ equity as accumulated other comprehensive income, net of tax. Realized gains and losses, if any, are calculated on the specific identification method and are included in interest and other, net in the consolidated statements of operations. Equity securities with readily determinable fair values are carried at fair value with any unrealized gains or losses reported in earnings. Available-for-sale debt securities are reviewed for possible impairment at least quarterly, or more frequently if circumstances arise that may indicate impairment. When the fair value of the securities declines below the amortized cost basis, impairment is indicated and it must be determined whether it is other than temporary. Impairment is considered to be other than temporary if the Company: (i) intends to sell the security, (ii) will more likely than not be forced to sell the security before recovering its cost, or (iii) does not expect to recover the security’s amortized cost basis. If the decline in fair value is considered other than temporary, the cost basis of the security is adjusted to its fair market value and the realized loss is reported in earnings. Subsequent increases or decreases in fair value are reported in equity as accumulated other comprehensive income. Accounts Receivable and Allowance for Doubtful Accounts Trade accounts receivable are recorded at the invoiced amount and do not bear interest. Customer credit terms are established prior to shipment with the general standard being net 30 days. Collateral or any other security to support payment of these receivables generally is not required. The Company maintains an allowance for doubtful accounts, which is an estimate regularly evaluated by the Company for adequacy by taking into consideration factors such as past experience, credit quality of the customer base, age of the receivable balances, both individually and in the aggregate, and current economic conditions that may affect a customer’s ability to pay. Provisions for the allowance for doubtful accounts attributed to bad debt are recorded in general and administrative expenses. The following table shows the allowance for doubtful accounts activity: Amount Balance at June 30, 2019 $ 613 Provision for doubtful accounts 1,300 Write-offs (154) Balance at June 30, 2020 1,759 Provision for doubtful accounts — Write-offs (158) Balance at June 30, 2021 1,601 Provision for doubtful accounts 150 Write-offs (455) Balance at June 30, 2022 $ 1,296 Inventories Inventories are stated at the lower of cost or net realizable value, with cost determined on a first-in, first-out method of valuation. The establishment of inventory allowances for excess and obsolete inventories is based on estimated exposure on specific inventory items. The Company writes down its inventories as it becomes aware of any situation where the carrying amount exceeds the estimated realizable value based on assumptions about future demands and market conditions. Property and Equipment Property and equipment is carried at cost, less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over estimated useful lives of 40 years for the building; five years to seven years for production equipment and furniture and fixtures; three years to five years for computer equipment and software; and the shorter of their estimated useful lives or the lease term for leasehold improvements. Expenditures for maintenance and repairs and minor renewals and betterments that do not extend or improve the life of the respective assets are expensed as incurred. All other expenditures for renewals and betterments are capitalized. The assets and related depreciation accounts are adjusted for property retirements and disposals with the resulting gains or losses included in the consolidated statement of operations. Long-Lived Assets The Company regularly evaluates the carrying value of long-lived assets for events or changes in circumstances that indicate that the carrying amount may not be recoverable or that the remaining estimated useful life should be changed. An impairment loss is recognized when the carrying amount of an asset exceeds the anticipated future undiscounted cash flows expected to result from the use of the asset and its eventual disposition. The amount of the impairment loss to be recorded, if any, is calculated by the excess of the asset’s carrying value over its fair value. Non-Marketable Equity 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. These investments are recorded within strategic investments on the consolidated balance sheet. Leases 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. The Company leases its Texas manufacturing facility under an operating lease agreement that expires in April 2026. The Company also leases office equipment under lease agreements that expire at various dates through December 2026. Financing Obligation In March 2017, the Company entered into an agreement to lease its Minnesota headquarters facility. The lease agreement has an initial term of 15 years, with four consecutive renewal options of five years each at the Company’s option. As the lease terms resulted in a capital lease classification, the Company accounted for the sale and leaseback of this 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. At the end of the lease (including any renewal option terms), the Company will remove the assets and financing obligation from its balance sheet. This transaction did not qualify for sale leaseback accounting upon adoption of ASC 842 and continues to be accounted for as a financing obligation. Revenue Recognition The Company sells its peripheral and coronary products to customers through a direct sales force in the United States and through distributors internationally and has no material concentration of credit risk or significant payment terms extended to customers for periods in excess of one year and, therefore, the Company does not adjust the promised amount of consideration for the effects of a significant financing component. Sales, use, value-added, and other excise taxes are not recognized in revenue. The Company has elected to present revenue net of sales taxes and other similar taxes. Performance Obligations The majority of the Company’s revenues are from customer arrangements containing a single performance obligation to transfer control of peripheral and coronary products, and thus revenue is recognized at a point in time when control is transferred to customers. This generally occurs upon shipment or upon delivery to the customer site, based on the contract terms. Shipping and handling activities are considered to be fulfillment activities and are not considered to be a separate performance obligation. The Company does not assess whether promised goods or services are performance obligations if they are immaterial in the context of the contract with the customer. The Company does not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. The Company did not recognize any material revenue in the current reporting period for performance obligations that were fully satisfied in previous periods. Significant Judgments The Company has an exclusive distribution agreement with Medikit to sell the Company’s coronary and peripheral OAS in Japan. To secure exclusive distribution rights, Medikit made an upfront payment of $10,000 to the Company, which is partially refundable based on the occurrence of certain events during the term of the agreement. The Company has classified the payment as current or long-term based on its expectation of when revenue will be recognized and this expectation is re-evaluated on a quarterly basis. Medikit also provides advance payments for orders under the terms of the agreement, and, therefore, deferred revenue is recorded until products are accepted by Medikit. Revenue is recognized at the transaction price to which the Company expects to be entitled. The Company offers customers certain volume-based rebates, discounts, and incentives. Estimates of variable consideration from these items are taken into account using the most-likely amount method based on contractual provisions, the Company’s historical experience, and forecasted customer buying patterns. These items are recognized as a reduction to revenue in the period the revenue is recognized and recorded as a liability. Return and warranty obligations vary by the specific terms of agreements with customers. The Company generally does not provide customers with a right of return. The Company has a limited warranty provision for goods that are nonconforming or defective at the time of shipment, which is estimated based on historical experience. Contract Costs Commissions are earned by the Company’s direct sales force based on sales of the Company’s OAS and other products. The Company applies the practical expedient and recognizes commissions as an expense when incurred because the amortization period of the asset that the Company would have otherwise recognized is one year or less. Warranty Costs The Company provides its customers with the right to receive a replacement if a product is determined to be defective at the time of shipment. Warranty reserve provisions are estimated based on Company experience, volume, and expected warranty claims. During the year ended June 30, 2021, the Company announced a program to upgrade customer saline pumps that will be reaching end of service over the coming 24-36 months and recorded a charge of $2,997. As of June 30, 2022 and June 30, 2021, $624 and $966, respectively, was recorded in accrued expenses and $755 and $1,804, respectively, was recorded in other liabilities on the Company’s consolidated balance sheet. Amount Balance at June 30, 2020 $ 109 Provision 557 Pump upgrade program 2,632 Claims (528) Balance at June 30, 2021 2,770 Provision 625 Pump upgrade program (1,321) Claims (695) Balance at June 30, 2022 $ 1,379 Litigation and Contingent Liabilities The Company and its operations from time to time are, and in the future may be, parties to or targets of lawsuits, claims, investigations, and proceedings, which are handled and defended in the ordinary course of business. The Company accrues a liability for such matters when it is probable that a liability has been incurred and the amount can be reasonably estimated. When a single amount cannot be reasonably estimated but the cost can be estimated within a range, the Company accrues an amount based on management’s best estimate considering all facts and circumstances. The Company expenses legal costs, including those expected to be incurred in connection with a loss contingency, as incurred. Income Taxes Deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts based on enacted tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Developing a provision for income taxes, including the effective tax rate and the analysis of potential tax exposure items, if any, requires significant judgment and expertise in federal and state income tax laws, regulations and strategies, including the determination of deferred tax assets. The Company’s judgment and tax strategies are subject to audit by various taxing authorities. Accounting guidance requires that accounting for uncertainty in income taxes is recognized in the financial statements. The guidance provides that a tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits of the position. Income tax positions must meet a more-likely-than-not recognition threshold to be recognized. The guidance also provides rules on measurement, derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. Research and Development Expenses Research and development expenses include costs associated with the design, development, testing, enhancement and regulatory approval of the Company’s products. Research and development expenses include employee compensation (including stock-based compensation), supplies and materials, consulting expenses, patent expenses, write-offs of capitalized patent costs, travel and facilities overhead. The Company also incurs significant expenses to operate clinical trials, including trial design, third-party fees, clinical site reimbursement, data management and travel expenses. Research and development expenses are expensed as incurred. Costs of in process research and development (“IPR&D”) assets acquired as part of an asset acquisition that have no alternative future use are expensed when incurred. Milestone payments made after regulatory approval are capitalized as an intangible asset and amortized over an estimated useful life of the product. Cash payments related to acquired IPR&D are reflected as an investing cash flow in the Company's consolidated statement of cash flows. Concentration of Credit Risk Financial instruments that potentially expose the Company to concentration of credit risk consist primarily of cash and cash equivalents, marketable securities, strategic investments and accounts receivable. The Company maintains its cash balances primarily with one financial institution. These balances exceed federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk in cash and cash equivalents. The Company believes that its credit risk related to marketable securities is limited due to the adherence to an investment policy and that credit risk related to accounts receivable is limited due to a large customer base. Fair Value Measurements Under the authoritative guidance for fair value measurements, fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The authoritative guidance also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability developed based upon the best information available in the circumstances. The categorization of financial assets and financial liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy is broken down into three levels defined as follows: Level 1 Inputs — quoted prices in active markets for identical assets and liabilities Level 2 Inputs — observable inputs other than quoted prices in active markets for identical assets and liabilities Level 3 Inputs — unobservable inputs for which there is little or no market data available As of June 30, 2022, the Company believes that the carrying amounts of its other financial instruments, including accounts receivable, accounts payable and accrued liabilities, approximate their fair value due to the short-term maturities of these instruments. Stock-Based Compensation The Company has stock-based compensation plans, which include stock options, nonvested share awards, and an employee stock purchase plan. Fair value of option awards is determined using option-pricing models, fair value of nonvested share awards with market conditions is determined using the Monte Carlo simulation, and fair value of nonvested share awards that

Selected Consolidated Financial

Selected Consolidated Financial Statement Information	12 Months Ended
	Jun. 30, 2022
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: June 30, 2022 2021 Accounts receivable $ 40,974 $ 41,634 Less: Allowance for doubtful accounts (1,296) (1,601) Accounts receivable, net $ 39,678 $ 40,033 Inventories Inventories consist of the following: June 30, 2022 2021 Raw materials $ 13,780 $ 11,621 Work in process 2,785 3,469 Finished goods 18,002 17,223 Inventories $ 34,567 $ 32,313 The total inventory reserve at June 30, 2022 and 2021 was $4.1 million and $3.2 million, respectively. Property and Equipment, Net Property and equipment consists of the following: June 30, 2022 2021 Land $ 572 $ 572 Building 22,420 22,420 Equipment 24,340 21,203 Furniture 3,376 3,376 Leasehold improvements 812 804 Construction in progress 2,670 2,848 54,190 0 51,223 Less: Accumulated depreciation (25,155) (22,329) Total Property and equipment, net $ 29,035 $ 28,894 Accrued Expenses Accrued expenses consist of the following: June 30, 2022 2021 Acquisition consideration (1) $ — $ 10,000 Commissions 8,104 7,869 Salaries and bonus 8,082 11,699 Accrued vacation 2,345 3,011 Clinical studies 1,082 1,478 Accrued excise, sales and other taxes 953 1,464 Other 2,898 2,668 Total Accrued expenses $ 23,464 $ 38,189

Revenue

Revenue	12 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	3. Revenue A summary of the Company’s accounting policies related to revenue recognition in accordance with ASC 606 can be found in Note 1 above. The following table disaggregates the Company’s net revenues by product category and geography for the following periods: Year Ended June 30, Product Category 2022 2021 2020 Peripheral $ 156,011 $ 176,941 $ 166,412 Coronary 80,211 82,032 70,133 Total net revenues $ 236,222 $ 258,973 $ 236,545 Geography United States $ 219,843 $ 247,624 $ 226,063 International 16,379 11,349 10,482 Total net revenues $ 236,222 $ 258,973 $ 236,545

Acquisition

Acquisition	Aug. 05, 2019
Business Combinations [Abstract]
Acquisition	4. Acquisitions Peripheral Support Catheters In fiscal 2021, the Company acquired a line of peripheral support catheters from WavePoint Medical, LLC (“WavePoint”) and also engaged WavePoint to develop a portfolio of specialty catheters. As consideration for the acquisition of the peripheral catheters, the Company made an upfront payment of $3,353 to WavePoint. The Company agreed to make an additional $1,700 payment to WavePoint upon 510(k) clearance of the peripheral catheters, to be capitalized as an intangible asset. This transaction was accounted for as an asset acquisition, resulting in acquired IPR&D. Costs of IPR&D projects acquired as part of an asset acquisition that have no alternative future use are expensed when incurred, and therefore, a charge of $3,353 was recognized in research and development expenses during the year ended June 30, 2021. During the fiscal year ended June 30, 2022, the peripheral support catheters received 510(k) clearance and the Company made an additional $1,700 payment to WavePoint pursuant to the terms of the parties' agreement, which amount was capitalized as developed technology. WIRION Embolic Protection System 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. In fiscal 2022, the Company conducted a voluntary recall of WIRION. The interruption of sales due to the recall will defer the Company’s obligation to make these additional payments to Gardia, as the related milestones will not be met unless and until the product is re-introduced into the market and the criteria for achievement of the milestones are met.

Intangible Assets

Intangible Assets	12 Months Ended
	Jun. 30, 2022
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 above, as well as capitalized patent costs. 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: June 30, 2022 June 30, 2021 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Developed technology $ 17,324 $ (3,165) $ 14,159 $ 15,624 $ (1,997) $ 13,627 Patents 1,866 (903) 963 1,866 (780) 1,086 Trade name 760 (148) 612 760 (97) 663 Total intangible assets, net $ 19,950 $ (4,216) $ 15,734 $ 18,250 $ (2,874) $ 15,376 Amortization expense expected for the next five years and thereafter is as follows: Fiscal 2023 $ 1,381 Fiscal 2024 1,377 Fiscal 2025 1,374 Fiscal 2026 1,373 Fiscal 2027 1,371 Thereafter 8,858 $ 15,734

Debt

Debt	12 Months Ended
	Jun. 30, 2022
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”). In March 2022, the Company entered into the Second Amendment to the Loan Agreement (the "Second Amendment"). The Second Amendment extended the maturity date of the Loan Agreement by one year, to March 31, 2023. 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 1.5% of the Maximum Dollar Amount upon termination of the Loan Agreement, as amended (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 were outstanding under the Revolver as of June 30, 2022. Financing Obligation In connection with the sale of its Minnesota headquarters facility, the Company entered into a lease agreement to lease such facility. The lease agreement has an initial term of 15 years, with four consecutive renewal options of five 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. The effective interest rate is 7.89%. Future payments under the initial term of the lease agreement as of June 30, 2022 are as follows: 2023 $ 1,913 2024 1,970 2025 2,029 2026 2,090 2027 2,153 Thereafter 11,133 $ 21,288

Marketable Securities & Fair Va

Marketable Securities & Fair Value Measurements	12 Months Ended
	Jun. 30, 2022
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: June 30, June 30, 2022 2021 Short-term available-for-sale debt securities $ 88,375 $ 129,908 Long-term available-for-sale debt securities 4,810 5,748 Available-for-sale debt securities 93,185 135,656 Mutual funds 224 312 Total marketable securities $ 93,409 $ 135,968 Available-for-sale debt securities are invested in the following financial instruments: As of June 30, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Commercial paper $ 36,800 $ — $ — $ 36,800 U.S. government securities 14,994 — (67) 14,927 Corporate debt 27,193 — (142) 27,051 Asset backed securities 14,465 — (58) 14,407 Total available-for-sale debt securities $ 93,452 $ — $ (267) $ 93,185 As of June 30, 2021 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Commercial paper $ 47,361 $ — $ — $ 47,361 U.S. government securities 20,229 1 — 20,230 Corporate debt 57,134 12 (12) 57,134 Asset backed securities 10,922 10 (1) 10,931 Total available-for-sale debt securities $ 135,646 $ 23 $ (13) $ 135,656 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 June 30, 2022 Using Inputs Considered as Fair Value Level 1 Level 2 Level 3 Commercial paper $ 36,800 $ — $ 36,800 $ — U.S. government securities 14,927 — 14,927 — Corporate debt 27,051 — 27,051 — Asset backed securities 14,407 — 14,407 — Mutual funds 224 108 116 — Total marketable securities $ 93,409 $ 108 $ 93,301 $ — Fair Value Measurements as of June 30, 2021 Using Inputs Considered as Fair Value Level 1 Level 2 Level 3 Commercial paper $ 47,361 $ — $ 47,361 $ — U.S. government securities 20,230 — 20,230 — Corporate debt 57,134 — 57,134 — Asset backed securities 10,931 — 10,931 — Mutual funds 312 136 176 — Total marketable securities $ 135,968 $ 136 $ 135,832 $ — 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 year ended June 30, 2022. 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. As of June 30, 2022 and June 30, 2021, the carrying value of these investments was $12,333 and $11,706, respectively. During the year ended June 30, 2022, no impairment indicators were noted. The Company is committed to funding an additional $1,410 into one of these investments in the future. The Company holds options to acquire all outstanding equity or certain developed technologies with respect to some of these strategic investments. These investments are recorded within strategic investments on the consolidated balance sheet. The Company also holds strategic investments accounted for as available-for-sale debt securities, which have carrying values and approximated fair values of $21,092 as of June 30, 2022. These investments are recorded within strategic investments on the consolidated balance sheet. The fair value of these investments are measured using Level 3 inputs and are not included in the tables above. Impairment is assessed similar to the Company's other strategic investments and no impairment indicators were noted during the year ended June 30, 2022.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [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. On March 12, 2020, the Company’s Board of Directors approved the Amended and Restated 2017 Equity Incentive Plan, which amended the 2017 Plan. On August 19, 2021, the Company's Board of Directors adopted an amendment to the 2017 Plan, which was approved by the Company's stockholders on November 11, 2021, that increased the number of shares available for issuance under the 2017 Plan by 1,700,000 shares. The Amended 2017 Plan allows for the granting of up to 3,607,523 shares of common stock as approved by the Board of Directors or committees thereof in the form of nonqualified or incentive stock options, restricted stock awards, restricted stock unit awards, performance share awards, performance unit awards or stock appreciation rights to officers, directors, consultants and employees of the Company. As of June 30, 2022, there were 2,126,600 shares available for grant under the Amended 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. Stock Options All options become exercisable over periods established at the date of grant. The option exercise price is generally not less than the estimated fair market value of the Company’s common stock at the date of grant, as determined by the Company’s management and Board of Directors. Stock option activity is as follows: Number of Weighted Average Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Options outstanding at June 30, 2019 — $ — Granted 45,186 $ 38.13 Forfeited (2,658) $ 38.13 Options outstanding at June 30, 2020 42,528 $ 38.13 Granted 47,712 $ 35.67 Forfeited (4,834) $ 37.61 Options outstanding at June 30, 2021 85,406 $ 36.78 Granted 898 $ 38.02 Exercised (295) $ 38.13 Forfeited (15,298) $ 31.48 Options outstanding at June 30, 2022 70,711 $ 36.77 8.4 $ — Exercisable at June 30, 2022 34,255 $ 37.18 8.3 $ — During the years ended June 30, 2022 and 2021, the Company granted nonqualified stock options to certain employees. Options granted vest over a three year service period. Shares to be issued upon exercise of these options will be new share issuances. The Company determined the fair value of options using the Black-Scholes option pricing model. The estimated fair value of options, including the effect of estimated forfeitures, will be recognized as expense on a straight-line basis over the options’ vesting periods. As of June 30, 2022, there was approximately $446, net of the effect of estimated forfeitures, of total unrecognized compensation expense related to nonvested stock options. Restricted Stock The fair value of each restricted stock award was 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 is as follows: Number of Weighted Average Outstanding at June 30, 2019 474,945 $ 31.36 Granted 195,231 $ 46.32 Forfeited (22,977) $ 36.75 Vested (213,132) $ 29.77 Outstanding at June 30, 2020 434,067 $ 38.34 Granted 298,881 $ 31.20 Forfeited (27,008) $ 35.85 Vested (237,998) $ 35.19 Outstanding at June 30, 2021 467,942 $ 35.61 Granted 590,277 $ 27.57 Forfeited (131,041) $ 33.03 Vested (248,279) $ 36.31 Outstanding at June 30, 2022 678,899 $ 28.88 Estimated pre-vesting forfeitures are considered in determining stock-based compensation expense. As of June 30, 2022, 2021 and 2020, the Company estimated its weighted average forfeiture rate at 9.2%, 17.5% and 17.0%, respectively. As of June 30, 2022, there was approximately $10,053 of total unrecognized compensation expense, net of the effect of estimated forfeitures, related to nonvested restricted stock awards, which is expected to be recognized over a weighted-average period of 1.6 years. Performance-Based Restricted Stock The Company also grants performance-based restricted stock awards to certain executives and other management. Fiscal 2022 awards vest based on the Company’s total shareholder return relative to total shareholder return of the peer group (a market condition), as measured by the closing prices of the stock of the Company and its peer group for the 90 trading days preceding July 1, 2021 compared to the closing prices for the 90 trading days preceding July 1, 2024. Fiscal 2021 awards vest based on the Company’s total shareholder return relative to total shareholder return of the peer group (a market condition), as measured by the closing prices of the stock of the Company and its peer group for the 90 trading days preceding July 1, 2020 compared to the closing prices for the 90 trading days preceding July 1, 2023. Fiscal 2020 awards vest based on the Company’s total shareholder return relative to total shareholder return of the peer group (a market condition), as measured by the closing prices of the stock of the Company and its peer group for the 90 trading days preceding July 1, 2019 compared to the closing prices for the 90 trading days preceding July 1, 2022. The aggregate maximum shares granted were as follows: Performance Measurement 2022 2021 2020 Total shareholder return 306,550 339,395 207,891 Performance-based restricted stock award activity is as follows: Number of Weighted Average Outstanding at June 30, 2019 753,872 $ 15.20 Granted 207,891 $ 30.45 Forfeited (25,948) $ 16.48 Vested (275,193) $ 11.97 Outstanding at June 30, 2020 660,622 $ 21.69 Granted 339,395 $ 12.75 Forfeited (73,347) $ 13.63 Vested (166,086) $ 13.96 Outstanding at June 30, 2021 760,584 $ 20.26 Granted 306,550 $ 19.87 Forfeited (175,918) $ 21.22 Vested (147,001) $ 22.32 Outstanding at June 30, 2022 744,215 $ 19.89 Estimated pre-vesting forfeitures are considered in determining stock-based compensation expense. As of June 30, 2022, there was approximately $4,150 of total unrecognized compensation expense related to nonvested performance-based restricted stock awards, which is expected to be recognized over a weighted-average period of 1.8 years. Stock-based compensation expense associated with performance-based restricted stock was $4,959 for the year ended June 30, 2022. Restricted Stock Units The Company grants restricted stock units to members of its Board of Directors. Restricted stock units represent the right to receive payment in the form of shares of the Company’s common stock or in cash at the Company’s option. Restricted stock unit payments occur within 30 days following the six month anniversary of the date that the director ceases to serve on the Board of Directors or, if the restricted stock units are granted in lieu of an annual cash retainer, on the payment date selected by the director that is at least two years after the grant date. The estimated fair value of restricted stock units is recognized on a straight-line basis over the vesting period. Restricted stock unit activity is as follows: Number of Weighted Average Restricted stock units outstanding at June 30, 2019 354,176 $ 17.23 Granted 20,689 $ 46.50 Converted to common stock (125,352) $ 17.65 Forfeited (2,316) $ 46.97 Restricted stock units outstanding at June 30, 2020 247,197 $ 19.19 Granted 35,566 $ 31.80 Restricted stock units outstanding at June 30, 2021 282,763 $ 20.77 Granted 30,512 $ 38.02 Converted to common stock (91,795) $ 16.30 Forfeited (2,860) $ 38.02 Restricted stock units outstanding at June 30, 2022 218,620 $ 24.84 Employee Stock Purchase Plan The Company maintains an employee stock purchase plan that was approved by the Company’s stockholders in November 2015 (“2015 ESPP”) and replaced the previous employee stock purchase plan that expired on May 31, 2016. The 2015 ESPP provides eligible employees the opportunity to acquire common stock in accordance with Section 423 of the Internal Revenue Code of 1986. Stock can be purchased each six-month period per year (twice per year). The purchase price is equal to 85% of the lower of the price at the beginning or the end of the respective period. Employees purchased 225,147 shares at an average price of $13.51 per share during the year ended June 30, 2022. Shares reserved under the 2015 ESPP at June 30, 2022 totaled 1,031,645. Stock-Based Compensation Expense The following amounts were recognized as stock-based compensation expense in the consolidated statements of operations: Year Ended June 30, 2022 Restricted Stock Awards & Options Restricted Employee Stock Purchase Plan Total Cost of goods sold $ 527 $ — $ 128 $ 655 Selling, general and administrative 12,502 1,051 1,282 14,835 Research and development 2,012 — 339 2,351 Total stock-based compensation expense $ 15,041 $ 1,051 $ 1,749 $ 17,841 Year Ended June 30, 2021 Restricted Stock Awards & Options Restricted Employee Stock Purchase Plan Total Cost of goods sold $ 692 $ — $ 90 $ 782 Selling, general and administrative 11,225 1,056 1,090 13,371 Research and development 1,844 — 233 2,077 Total stock-based compensation expense $ 13,761 $ 1,056 $ 1,413 $ 16,230 Year Ended June 30, 2020 Restricted Stock Awards Restricted Employee Stock Purchase Plan Total Cost of goods sold $ 564 $ — $ 62 $ 626 Selling, general and administrative 9,511 865 878 11,254 Research and development 1,554 — 178 1,732 Total stock-based compensation expense $ 11,629 $ 865 $ 1,118 $ 13,612

Leases

Leases	12 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases	9. Leases The Company leases its Texas manufacturing facility under an operating lease agreement which expires in April 2026. The Company also leases office equipment under lease agreements that expire at various dates through December 2026. The Company's operating lease cost was $522 and $503 for the years ended June 30, 2022 and 2021, respectively. Cash paid for operating lease liabilities approximated operating lease cost for the year ended June 30, 2022. There was $104 and $2,238 of operating lease right-of-use assets obtained in exchange for new lease liabilities during the year ended June 30, 2022 and 2021, respectively. June 30, June 30, 2022 2021 Right-of-use assets Other assets $ 1,852 $ 2,212 Operating lease liabilities Accrued expenses 526 487 Other liabilities 1,326 1,725 Total operating lease liabilities $ 1,852 $ 2,212 Future minimum lease payments under the agreements as of June 30, 2022 are as follows: Fiscal 2023 $ 534 Fiscal 2024 506 Fiscal 2025 494 Fiscal 2026 406 Fiscal 2027 2 Thereafter — Total lease payments 1,942 Less imputed interest (90) Total operating lease liabilities $ 1,852 As of June 30, 2022, the weighted average remaining lease term for operating leases was 3.8 years and the weighted average discount rate used to determine operating lease liabilities was 2.52%.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments 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, product liability claims and commercial disputes. While the outcome of these matters is uncertain, the Company does not believe there are any significant matters as of June 30, 2022 that are probable or estimable, for which the outcome is reasonably possible of having a material adverse impact on its consolidated balance sheets or statements of operations.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Jun. 30, 2022
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): Year Ended June 30, 2022 2021 2020 Numerator Net loss $ (36,933) $ (13,421) $ (27,236) Income allocated to participating securities — — — Net loss available to common stockholders $ (36,933) $ (13,421) $ (27,236) Denominator Weighted average common shares outstanding — basic 39,229,734 38,832,002 34,275,957 Effect of dilutive stock options (1) — — — Effect of dilutive restricted stock units (2) — — — Effect of performance-based restricted stock awards (3) — — — Weighted average common shares outstanding — diluted 39,229,734 38,832,002 34,275,957 Earnings per common share — basic and diluted $ (0.94) $ (0.35) $ (0.79) (1) At June 30, 2022, 2021 and 2020; 70,711, 85,406 and 42,528 shares of common stock, respectively, were subject to the exercising of outstanding stock options. The effect of the shares that would be issued upon exercise of these options has been excluded from the calculation of diluted loss per share for all periods presented because those shares are anti-dilutive. (2) At June 30, 2022, 2021, and 2020; 218,620, 282,763 and 247,197 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 June 30, 2022, 2021, and 2020; 744,215, 760,584, and 660,622 shares of common stock, respectively, were subject to the vesting of performance-based restricted stock awards. The effect of the shares that would be issued upon 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, 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.

Employee Benefits

Employee Benefits	12 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Employee Benefits	12. Employee Benefits The Company offers a 401(k) plan to its employees. Eligible employees may authorize up to $20 of their annual compensation as a contribution to the plan, subject to Internal Revenue Service limitations. The plan also allows eligible employees over 50 years old to contribute an additional $7 subject to Internal Revenue Service limitations. All employees must be at least 21 years of age to participate in the plan. The Company did not provide any employer matching contributions for the years ended June 30, 2022, 2021, and 2020. The Company offers certain members of management and highly compensated employees the opportunity to defer up to 100% of their base salary (after 401(k), payroll tax and other deductions), performance bonus and discretionary bonus and elect to receive the deferred compensation at a fixed future date of participant’s choosing. Each participant may, at the time of his or her deferral election, choose to allocate the deferred compensation into investment alternatives set by the Human Resources and Compensation Committee. The amount payable to each participant under the plan will change in value based upon the investment selected by that participant and is classified as current or long-term on the Company’s consolidated balance sheet

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes The components of the Company’s overall deferred tax assets and liabilities are as follows: June 30, 2022 2021 Deferred tax assets Stock-based compensation $ 5,157 $ 5,012 Deferred revenue 511 1,115 Accrued expenses and compensation 868 492 Other 3,877 4,119 Research and development credit carryforwards 8,915 6,695 Net operating loss carryforwards 78,148 71,940 Total deferred tax assets 97,476 89,373 Valuation allowance (97,476) (89,373) Net deferred tax assets $ — $ — The Company has established valuation allowances to fully offset its deferred tax assets due to the uncertainty about the Company’s ability to generate the future taxable income necessary to realize these deferred assets, particularly in light of the Company’s historical losses. The future use of net operating loss carryforwards is dependent on the Company attaining profitable operations, and may be limited in any one year under Internal Revenue Code Section 382 due to significant ownership changes, as defined under such Section, as a result of the Company’s equity financings. A summary of the valuation allowances are as follows: Balances at June 30, 2019 $ 78,744 Reductions 8,613 Balance at June 30, 2020 87,357 Additions 2,016 Balance at June 30, 2021 89,373 Additions 8,103 Balance at June 30, 2022 $ 97,476 As of June 30, 2022 and 2021, the Company had federal tax net operating loss carryforwards of approximately $327,997 and $299,928, respectively. Net losses incurred prior to fiscal 2019 are available to be carried forward to offset taxable income through 2037, while net losses incurred subsequent to fiscal 2019 are able to be carried forward indefinitely The Company also had various state net operating loss carryforwards available to offset future state taxable income. These state net operating loss carryforwards typically have the same expirations as the Company’s federal tax net operating loss carryforwards. As of June 30, 2022 and 2021, the Company had approximately $7,658 and $5,632 of federal research and development credit carryforwards, respectively. As of June 30, 2022 and 2021, the Company had approximately $2,845 and $2,287, respectively, of state research and development credit carryforwards. The federal and state research and development credit carryforwards will expire through fiscal 2041 and 2036, respectively. As required by ASC Topic 740, “ Income Taxes ,” the Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company recorded a liability relating to unrecognized tax benefits of $1,191 and $1,042 at June 30, 2022 and 2021, respectively. Due to the Company having a full valuation allowance, this liability has been netted against the deferred tax asset. The Company recognizes interest and penalties related to uncertain tax provisions as part of the provision for income taxes. The Company has not currently reserved for any interest or penalties for such reserves due to the Company being in an net operating loss position. The Company does not expect to recognize any benefits from the unrecognized tax benefits within the next twelve months. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: Balances at June 30, 2019 $ 611 Increases related to prior year tax positions 36 Increases related to current year tax positions 64 Balances at June 30, 2020 711 Increases related to prior year tax positions 226 Increases related to current year tax positions 105 Balance at June 30, 2021 1,042 Decreases related to prior year tax positions (14) Increases related to current year tax positions 163 Balance at June 30, 2022 $ 1,191 The Company is subject to income taxes in the U.S. federal jurisdiction and various state jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. The Company is potentially subject to income tax examinations by tax authorities for the tax years ended June 30, 2022, 2021, 2020, 2019, and 2018. The Company is not currently under examination by any taxing jurisdiction.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Company Description	Company DescriptionCardiovascular Systems, Inc. (the “Company”), based in St. Paul, Minn., is a medical technology 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.
Principles of Consolidation	Principles of ConsolidationThe consolidated balance sheets and statements of operations, comprehensive income, changes in stockholders’ equity, and cash flows include the accounts of the Company and its wholly-owned subsidiary, after elimination of all intercompany transactions and accounts.
Use of Estimates	Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with accounting principles generally accepted in the United States of America 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 outbreak of COVID-19. 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.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all money market funds and other investments purchased with an original maturity of three months or less to be cash and cash equivalents.
Marketable Securities	Marketable Securities The Company’s marketable securities consist predominately of available-for-sale debt securities and were valued in accordance with the fair value measurement guidance. Available-for-sale debt securities are carried at fair value with unrealized gains and losses reported as a component of stockholders’ equity as accumulated other comprehensive income, net of tax. Realized gains and losses, if any, are calculated on the specific identification method and are included in interest and other, net in the consolidated statements of operations. Equity securities with readily determinable fair values are carried at fair value with any unrealized gains or losses reported in earnings. Available-for-sale debt securities are reviewed for possible impairment at least quarterly, or more frequently if circumstances arise that may indicate impairment. When the fair value of the securities declines below the amortized cost basis, impairment is indicated and it must be determined whether it is other than temporary. Impairment is considered to be other than temporary if the Company: (i) intends to sell the security, (ii) will more likely than not be forced to sell the security before recovering its cost, or (iii) does not expect to recover the security’s amortized cost basis. If the decline in fair value is considered other than temporary, the cost basis of the security is adjusted to its fair market value and the realized loss is reported in earnings. Subsequent increases or decreases in fair value are reported in equity as accumulated other comprehensive income.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts Trade accounts receivable are recorded at the invoiced amount and do not bear interest. Customer credit terms are established prior to shipment with the general standard being net 30 days. Collateral or any other security to support payment of these receivables generally is not required. The Company maintains an allowance for doubtful accounts, which is an estimate regularly evaluated by the Company for adequacy by taking into consideration factors such as past experience, credit quality of the customer base, age of the receivable balances, both individually and in the aggregate, and current economic conditions that may affect a customer’s ability to pay. Provisions for the allowance for doubtful accounts attributed to bad debt are recorded in general and administrative expenses. The following table shows the allowance for doubtful accounts activity: Amount Balance at June 30, 2019 $ 613 Provision for doubtful accounts 1,300 Write-offs (154) Balance at June 30, 2020 1,759 Provision for doubtful accounts — Write-offs (158) Balance at June 30, 2021 1,601 Provision for doubtful accounts 150 Write-offs (455) Balance at June 30, 2022 $ 1,296
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value, with cost determined on a first-in, first-out method of valuation. The establishment of inventory allowances for excess and obsolete inventories is based on estimated exposure on specific inventory items. The Company writes down its inventories as it becomes aware of any situation where the carrying amount exceeds the estimated realizable value based on assumptions about future demands and market conditions.
Property and Equipment	Property and Equipment Property and equipment is carried at cost, less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over estimated useful lives of 40 years for the building; five years to seven years for production equipment and furniture and fixtures; three years to five years for computer equipment and software; and the shorter of their estimated useful lives or the lease term for leasehold improvements. Expenditures for maintenance and repairs and minor renewals and betterments that do not extend or improve the life of the respective assets are expensed as incurred. All other expenditures for renewals and betterments are capitalized. The assets and related depreciation accounts are adjusted for property retirements and disposals with the resulting gains or losses included in the consolidated statement of operations.
Long-Lived Assets	Long-Lived Assets The Company regularly evaluates the carrying value of long-lived assets for events or changes in circumstances that indicate that the carrying amount may not be recoverable or that the remaining estimated useful life should be changed. An impairment loss is recognized when the carrying amount of an asset exceeds the anticipated future undiscounted cash flows expected to result from the use of the asset and its eventual disposition. The amount of the impairment loss to be recorded, if any, is calculated by the excess of the asset’s carrying value over its fair value.
Non-Marketable Equity Investments	Non-Marketable Equity InvestmentsThe 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. These investments are recorded within strategic investments on the consolidated balance sheet.
Leases / Financing Obligation	Leases 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. The Company leases its Texas manufacturing facility under an operating lease agreement that expires in April 2026. The Company also leases office equipment under lease agreements that expire at various dates through December 2026. Financing Obligation In March 2017, the Company entered into an agreement to lease its Minnesota headquarters facility. The lease agreement has an initial term of 15 years, with four consecutive renewal options of five years each at the Company’s option. As the lease terms resulted in a capital lease classification, the Company accounted for the sale and leaseback of this 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. At the end of the lease (including any renewal option terms), the Company will remove the assets and financing obligation from its balance sheet. This transaction did not qualify for sale leaseback accounting upon adoption of ASC 842 and continues to be accounted for as a financing obligation.
Revenue Recognition	Revenue Recognition The Company sells its peripheral and coronary products to customers through a direct sales force in the United States and through distributors internationally and has no material concentration of credit risk or significant payment terms extended to customers for periods in excess of one year and, therefore, the Company does not adjust the promised amount of consideration for the effects of a significant financing component. Sales, use, value-added, and other excise taxes are not recognized in revenue. The Company has elected to present revenue net of sales taxes and other similar taxes. Performance Obligations The majority of the Company’s revenues are from customer arrangements containing a single performance obligation to transfer control of peripheral and coronary products, and thus revenue is recognized at a point in time when control is transferred to customers. This generally occurs upon shipment or upon delivery to the customer site, based on the contract terms. Shipping and handling activities are considered to be fulfillment activities and are not considered to be a separate performance obligation. The Company does not assess whether promised goods or services are performance obligations if they are immaterial in the context of the contract with the customer. The Company does not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. The Company did not recognize any material revenue in the current reporting period for performance obligations that were fully satisfied in previous periods. Significant Judgments The Company has an exclusive distribution agreement with Medikit to sell the Company’s coronary and peripheral OAS in Japan. To secure exclusive distribution rights, Medikit made an upfront payment of $10,000 to the Company, which is partially refundable based on the occurrence of certain events during the term of the agreement. The Company has classified the payment as current or long-term based on its expectation of when revenue will be recognized and this expectation is re-evaluated on a quarterly basis. Medikit also provides advance payments for orders under the terms of the agreement, and, therefore, deferred revenue is recorded until products are accepted by Medikit. Revenue is recognized at the transaction price to which the Company expects to be entitled. The Company offers customers certain volume-based rebates, discounts, and incentives. Estimates of variable consideration from these items are taken into account using the most-likely amount method based on contractual provisions, the Company’s historical experience, and forecasted customer buying patterns. These items are recognized as a reduction to revenue in the period the revenue is recognized and recorded as a liability. Return and warranty obligations vary by the specific terms of agreements with customers. The Company generally does not provide customers with a right of return. The Company has a limited warranty provision for goods that are nonconforming or defective at the time of shipment, which is estimated based on historical experience. Contract Costs Commissions are earned by the Company’s direct sales force based on sales of the Company’s OAS and other products. The Company applies the practical expedient and recognizes commissions as an expense when incurred because the amortization period of the asset that the Company would have otherwise recognized is one year or less.
Warranty Costs	Warranty Costs The Company provides its customers with the right to receive a replacement if a product is determined to be defective at the time of shipment. Warranty reserve provisions are estimated based on Company experience, volume, and expected warranty claims. During the year ended June 30, 2021, the Company announced a program to upgrade customer saline pumps that will be reaching end of service over the coming 24-36 months and recorded a charge of $2,997. As of June 30, 2022 and June 30, 2021, $624 and $966, respectively, was recorded in accrued expenses and $755 and $1,804, respectively, was recorded in other liabilities on the Company’s consolidated balance sheet. Amount Balance at June 30, 2020 $ 109 Provision 557 Pump upgrade program 2,632 Claims (528) Balance at June 30, 2021 2,770 Provision 625 Pump upgrade program (1,321) Claims (695) Balance at June 30, 2022 $ 1,379
Litigation and Contingent Liabilities	Litigation and Contingent Liabilities The Company and its operations from time to time are, and in the future may be, parties to or targets of lawsuits, claims, investigations, and proceedings, which are handled and defended in the ordinary course of business. The Company accrues a liability for such matters when it is probable that a liability has been incurred and the amount can be reasonably estimated. When a single amount cannot be reasonably estimated but the cost can be estimated within a range, the Company accrues an amount based on management’s best estimate considering all facts and circumstances. The Company expenses legal costs, including those expected to be incurred in connection with a loss contingency, as incurred.
Income Taxes	Income Taxes Deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts based on enacted tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Developing a provision for income taxes, including the effective tax rate and the analysis of potential tax exposure items, if any, requires significant judgment and expertise in federal and state income tax laws, regulations and strategies, including the determination of deferred tax assets. The Company’s judgment and tax strategies are subject to audit by various taxing authorities.
Research and Development Expenses	Research and Development Expenses Research and development expenses include costs associated with the design, development, testing, enhancement and regulatory approval of the Company’s products. Research and development expenses include employee compensation (including stock-based compensation), supplies and materials, consulting expenses, patent expenses, write-offs of capitalized patent costs, travel and facilities overhead. The Company also incurs significant expenses to operate clinical trials, including trial design, third-party fees, clinical site reimbursement, data management and travel expenses. Research and development expenses are expensed as incurred. Costs of in process research and development (“IPR&D”) assets acquired as part of an asset acquisition that have no alternative future use are expensed when incurred. Milestone payments made after regulatory approval are capitalized as an intangible asset and amortized over an estimated useful life of the product. Cash payments related to acquired IPR&D are reflected as an investing cash flow in the Company's consolidated statement of cash flows.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially expose the Company to concentration of credit risk consist primarily of cash and cash equivalents, marketable securities, strategic investments and accounts receivable. The Company maintains its cash balances primarily with one financial institution. These balances exceed federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk in cash and cash equivalents. The Company believes that its credit risk related to marketable securities is limited due to the adherence to an investment policy and that credit risk related to accounts receivable is limited due to a large customer base.
Fair Value Measurements	Fair Value Measurements Under the authoritative guidance for fair value measurements, fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The authoritative guidance also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability developed based upon the best information available in the circumstances. The categorization of financial assets and financial liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy is broken down into three levels defined as follows: Level 1 Inputs — quoted prices in active markets for identical assets and liabilities Level 2 Inputs — observable inputs other than quoted prices in active markets for identical assets and liabilities Level 3 Inputs — unobservable inputs for which there is little or no market data available As of June 30, 2022, the Company believes that the carrying amounts of its other financial instruments, including accounts receivable, accounts payable and accrued liabilities, approximate their fair value due to the short-term maturities of these instruments.
Stock-Based Compensation	Stock-Based Compensation The Company has stock-based compensation plans, which include stock options, nonvested share awards, and an employee stock purchase plan. Fair value of option awards is determined using option-pricing models, fair value of nonvested share awards with market conditions is determined using the Monte Carlo simulation, and fair value of nonvested share awards that

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Allowance for doubtful accounts	Amount Balance at June 30, 2019 $ 613 Provision for doubtful accounts 1,300 Write-offs (154) Balance at June 30, 2020 1,759 Provision for doubtful accounts — Write-offs (158) Balance at June 30, 2021 1,601 Provision for doubtful accounts 150 Write-offs (455) Balance at June 30, 2022 $ 1,296
Schedule of Warranty Costs	Amount Balance at June 30, 2020 $ 109 Provision 557 Pump upgrade program 2,632 Claims (528) Balance at June 30, 2021 2,770 Provision 625 Pump upgrade program (1,321) Claims (695) Balance at June 30, 2022 $ 1,379

Selected Consolidated Financi_2

Selected Consolidated Financial Statement Information (Tables)	12 Months Ended
	Jun. 30, 2022
Quarterly Financial Information Disclosure [Abstract]
Accounts receivable	June 30, 2022 2021 Accounts receivable $ 40,974 $ 41,634 Less: Allowance for doubtful accounts (1,296) (1,601) Accounts receivable, net $ 39,678 $ 40,033
Inventories	June 30, 2022 2021 Raw materials $ 13,780 $ 11,621 Work in process 2,785 3,469 Finished goods 18,002 17,223 Inventories $ 34,567 $ 32,313
Property and equipment	June 30, 2022 2021 Land $ 572 $ 572 Building 22,420 22,420 Equipment 24,340 21,203 Furniture 3,376 3,376 Leasehold improvements 812 804 Construction in progress 2,670 2,848 54,190 0 51,223 Less: Accumulated depreciation (25,155) (22,329) Total Property and equipment, net $ 29,035 $ 28,894
Accrued expenses	June 30, 2022 2021 Acquisition consideration (1) $ — $ 10,000 Commissions 8,104 7,869 Salaries and bonus 8,082 11,699 Accrued vacation 2,345 3,011 Clinical studies 1,082 1,478 Accrued excise, sales and other taxes 953 1,464 Other 2,898 2,668 Total Accrued expenses $ 23,464 $ 38,189

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Year Ended June 30, Product Category 2022 2021 2020 Peripheral $ 156,011 $ 176,941 $ 166,412 Coronary 80,211 82,032 70,133 Total net revenues $ 236,222 $ 258,973 $ 236,545 Geography United States $ 219,843 $ 247,624 $ 226,063 International 16,379 11,349 10,482 Total net revenues $ 236,222 $ 258,973 $ 236,545

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets [Table Text Block]	June 30, 2022 June 30, 2021 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Developed technology $ 17,324 $ (3,165) $ 14,159 $ 15,624 $ (1,997) $ 13,627 Patents 1,866 (903) 963 1,866 (780) 1,086 Trade name 760 (148) 612 760 (97) 663 Total intangible assets, net $ 19,950 $ (4,216) $ 15,734 $ 18,250 $ (2,874) $ 15,376
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Fiscal 2023 $ 1,381 Fiscal 2024 1,377 Fiscal 2025 1,374 Fiscal 2026 1,373 Fiscal 2027 1,371 Thereafter 8,858 $ 15,734

Debt (Tables)

Debt (Tables)	12 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Finance Lease, Liability, Fiscal Year Maturity	2023 $ 1,913 2024 1,970 2025 2,029 2026 2,090 2027 2,153 Thereafter 11,133 $ 21,288

Marketable Securities & Fair _2

Marketable Securities & Fair Value Measurements (Tables)	12 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Marketable Securities [Table Text Block]	June 30, June 30, 2022 2021 Short-term available-for-sale debt securities $ 88,375 $ 129,908 Long-term available-for-sale debt securities 4,810 5,748 Available-for-sale debt securities 93,185 135,656 Mutual funds 224 312 Total marketable securities $ 93,409 $ 135,968
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	As of June 30, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Commercial paper $ 36,800 $ — $ — $ 36,800 U.S. government securities 14,994 — (67) 14,927 Corporate debt 27,193 — (142) 27,051 Asset backed securities 14,465 — (58) 14,407 Total available-for-sale debt securities $ 93,452 $ — $ (267) $ 93,185 As of June 30, 2021 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Commercial paper $ 47,361 $ — $ — $ 47,361 U.S. government securities 20,229 1 — 20,230 Corporate debt 57,134 12 (12) 57,134 Asset backed securities 10,922 10 (1) 10,931 Total available-for-sale debt securities $ 135,646 $ 23 $ (13) $ 135,656
Available-for-sale marketable securities at fair value on recurring basis	Fair Value Measurements as of June 30, 2022 Using Inputs Considered as Fair Value Level 1 Level 2 Level 3 Commercial paper $ 36,800 $ — $ 36,800 $ — U.S. government securities 14,927 — 14,927 — Corporate debt 27,051 — 27,051 — Asset backed securities 14,407 — 14,407 — Mutual funds 224 108 116 — Total marketable securities $ 93,409 $ 108 $ 93,301 $ — Fair Value Measurements as of June 30, 2021 Using Inputs Considered as Fair Value Level 1 Level 2 Level 3 Commercial paper $ 47,361 $ — $ 47,361 $ — U.S. government securities 20,230 — 20,230 — Corporate debt 57,134 — 57,134 — Asset backed securities 10,931 — 10,931 — Mutual funds 312 136 176 — Total marketable securities $ 135,968 $ 136 $ 135,832 $ —

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock option activity	Number of Weighted Average Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Options outstanding at June 30, 2019 — $ — Granted 45,186 $ 38.13 Forfeited (2,658) $ 38.13 Options outstanding at June 30, 2020 42,528 $ 38.13 Granted 47,712 $ 35.67 Forfeited (4,834) $ 37.61 Options outstanding at June 30, 2021 85,406 $ 36.78 Granted 898 $ 38.02 Exercised (295) $ 38.13 Forfeited (15,298) $ 31.48 Options outstanding at June 30, 2022 70,711 $ 36.77 8.4 $ — Exercisable at June 30, 2022 34,255 $ 37.18 8.3 $ —
Restricted stock award activity	Number of Weighted Average Outstanding at June 30, 2019 474,945 $ 31.36 Granted 195,231 $ 46.32 Forfeited (22,977) $ 36.75 Vested (213,132) $ 29.77 Outstanding at June 30, 2020 434,067 $ 38.34 Granted 298,881 $ 31.20 Forfeited (27,008) $ 35.85 Vested (237,998) $ 35.19 Outstanding at June 30, 2021 467,942 $ 35.61 Granted 590,277 $ 27.57 Forfeited (131,041) $ 33.03 Vested (248,279) $ 36.31 Outstanding at June 30, 2022 678,899 $ 28.88
Aggregate maximum performance-based restricted stock awards granted	Performance Measurement 2022 2021 2020 Total shareholder return 306,550 339,395 207,891
Performance-based restricted stock award activity	Number of Weighted Average Outstanding at June 30, 2019 753,872 $ 15.20 Granted 207,891 $ 30.45 Forfeited (25,948) $ 16.48 Vested (275,193) $ 11.97 Outstanding at June 30, 2020 660,622 $ 21.69 Granted 339,395 $ 12.75 Forfeited (73,347) $ 13.63 Vested (166,086) $ 13.96 Outstanding at June 30, 2021 760,584 $ 20.26 Granted 306,550 $ 19.87 Forfeited (175,918) $ 21.22 Vested (147,001) $ 22.32 Outstanding at June 30, 2022 744,215 $ 19.89
Restricted stock unit activity	Number of Weighted Average Restricted stock units outstanding at June 30, 2019 354,176 $ 17.23 Granted 20,689 $ 46.50 Converted to common stock (125,352) $ 17.65 Forfeited (2,316) $ 46.97 Restricted stock units outstanding at June 30, 2020 247,197 $ 19.19 Granted 35,566 $ 31.80 Restricted stock units outstanding at June 30, 2021 282,763 $ 20.77 Granted 30,512 $ 38.02 Converted to common stock (91,795) $ 16.30 Forfeited (2,860) $ 38.02 Restricted stock units outstanding at June 30, 2022 218,620 $ 24.84
Stock-based compensation expense	Year Ended June 30, 2022 Restricted Stock Awards & Options Restricted Employee Stock Purchase Plan Total Cost of goods sold $ 527 $ — $ 128 $ 655 Selling, general and administrative 12,502 1,051 1,282 14,835 Research and development 2,012 — 339 2,351 Total stock-based compensation expense $ 15,041 $ 1,051 $ 1,749 $ 17,841 Year Ended June 30, 2021 Restricted Stock Awards & Options Restricted Employee Stock Purchase Plan Total Cost of goods sold $ 692 $ — $ 90 $ 782 Selling, general and administrative 11,225 1,056 1,090 13,371 Research and development 1,844 — 233 2,077 Total stock-based compensation expense $ 13,761 $ 1,056 $ 1,413 $ 16,230 Year Ended June 30, 2020 Restricted Stock Awards Restricted Employee Stock Purchase Plan Total Cost of goods sold $ 564 $ — $ 62 $ 626 Selling, general and administrative 9,511 865 878 11,254 Research and development 1,554 — 178 1,732 Total stock-based compensation expense $ 11,629 $ 865 $ 1,118 $ 13,612

Leases (Tables)

Leases (Tables)	12 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Lease, Cost	June 30, June 30, 2022 2021 Right-of-use assets Other assets $ 1,852 $ 2,212 Operating lease liabilities Accrued expenses 526 487 Other liabilities 1,326 1,725 Total operating lease liabilities $ 1,852 $ 2,212
Lessee, Operating Lease, Liability, Maturity	Fiscal 2023 $ 534 Fiscal 2024 506 Fiscal 2025 494 Fiscal 2026 406 Fiscal 2027 2 Thereafter — Total lease payments 1,942 Less imputed interest (90) Total operating lease liabilities $ 1,852

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Reconciliation of the numerators and denominators used in the basic and diluted earnings per common share computations	Year Ended June 30, 2022 2021 2020 Numerator Net loss $ (36,933) $ (13,421) $ (27,236) Income allocated to participating securities — — — Net loss available to common stockholders $ (36,933) $ (13,421) $ (27,236) Denominator Weighted average common shares outstanding — basic 39,229,734 38,832,002 34,275,957 Effect of dilutive stock options (1) — — — Effect of dilutive restricted stock units (2) — — — Effect of performance-based restricted stock awards (3) — — — Weighted average common shares outstanding — diluted 39,229,734 38,832,002 34,275,957 Earnings per common share — basic and diluted $ (0.94) $ (0.35) $ (0.79) (1) At June 30, 2022, 2021 and 2020; 70,711, 85,406 and 42,528 shares of common stock, respectively, were subject to the exercising of outstanding stock options. The effect of the shares that would be issued upon exercise of these options has been excluded from the calculation of diluted loss per share for all periods presented because those shares are anti-dilutive. (2) At June 30, 2022, 2021, and 2020; 218,620, 282,763 and 247,197 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 June 30, 2022, 2021, and 2020; 744,215, 760,584, and 660,622 shares of common stock, respectively, were subject to the vesting of performance-based restricted stock awards. The effect of the shares that would be issued upon 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.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Deferred tax assets and liabilities	June 30, 2022 2021 Deferred tax assets Stock-based compensation $ 5,157 $ 5,012 Deferred revenue 511 1,115 Accrued expenses and compensation 868 492 Other 3,877 4,119 Research and development credit carryforwards 8,915 6,695 Net operating loss carryforwards 78,148 71,940 Total deferred tax assets 97,476 89,373 Valuation allowance (97,476) (89,373) Net deferred tax assets $ — $ —
Summary of valuation allowances	Balances at June 30, 2019 $ 78,744 Reductions 8,613 Balance at June 30, 2020 87,357 Additions 2,016 Balance at June 30, 2021 89,373 Additions 8,103 Balance at June 30, 2022 $ 97,476
Reconciliation of beginning and ending amount of unrecognized tax benefits	Balances at June 30, 2019 $ 611 Increases related to prior year tax positions 36 Increases related to current year tax positions 64 Balances at June 30, 2020 711 Increases related to prior year tax positions 226 Increases related to current year tax positions 105 Balance at June 30, 2021 1,042 Decreases related to prior year tax positions (14) Increases related to current year tax positions 163 Balance at June 30, 2022 $ 1,191

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Textual)	12 Months Ended
	Jun. 30, 2022 USD ($) renewal_term financialInstitutions	Mar. 30, 2017 USD ($)
Accounting Policies [Abstract]
Accounts receivable credit period	30 days
Property and Equipment and Patents [Line Items]
Finance lease, term of contract	15 years
Finance lease, renewal options | renewal_term	4
Finance lease, renewal term	5 years
Contract with customer, liability	$ 10,000,000
Number of financial institutions the company maintains its cash balances | financialInstitutions	1
Sale Agreement
Net Proceeds on Sale of the Facility		$ 20,944,000
Building
Property and Equipment and Patents [Line Items]
Property and equipment, estimated useful life	40 years
Maximum | Equipment
Property and Equipment and Patents [Line Items]
Property and equipment, estimated useful life	7 years
Maximum | Computer Equipment
Property and Equipment and Patents [Line Items]
Property and equipment, estimated useful life	5 years
Minimum | Equipment
Property and Equipment and Patents [Line Items]
Property and equipment, estimated useful life	5 years
Minimum | Computer Equipment
Property and Equipment and Patents [Line Items]
Property and equipment, estimated useful life	3 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Allowance for Doubtful Accounts Activity) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Accounting Policies [Abstract]
Accounts Receivable Credit Period	30 days
Allowance for doubtful accounts activity
Beginning balance	$ 1,601	$ 1,759	$ 613
Provision for doubtful accounts	150	0	1,300
Write-offs	(455)	(158)	(154)
Ending balance	$ 1,296	$ 1,601	$ 1,759

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Leases) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Lessee, Lease, Description [Line Items]
Total operating lease liabilities	$ 1,852	$ 2,212
Other Assets
Lessee, Lease, Description [Line Items]
Operating Lease, Right-of-Use Asset	$ 1,852	$ 2,212

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Warranty Reserve) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Product Warranty Liability [Line Items]
Pump replacement charges	$ 2,997
Movement in Standard Product Warranty Accrual [Roll Forward]
Standard Product Warranty Accrual	1,379	$ 2,770	$ 109
Provision	625	557
Pump upgrade program	(1,321)	2,632
Claims	(695)	(528)
Standard Product Warranty Accrual	1,379	2,770
Other Liabilities
Product Warranty Liability [Line Items]
Warranty liability	755	1,804
Accrued Expenses
Product Warranty Liability [Line Items]
Warranty liability	$ 624	$ 966

Selected Consolidated Financi_3

Selected Consolidated Financial Statement Information (Accounts Receivable, Net) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Quarterly Financial Information Disclosure [Abstract]
Accounts receivable	$ 40,974	$ 41,634
Less: Allowance for doubtful accounts	(1,296)	(1,601)
Accounts receivable, net	$ 39,678	$ 40,033

Selected Consolidated Financi_4

Selected Consolidated Financial Statement Information (Inventories) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Quarterly Financial Information Disclosure [Abstract]
Raw materials	$ 13,780	$ 11,621
Work in process	2,785	3,469
Finished goods	18,002	17,223
Inventories	34,567	32,313
Inventory reserve	$ 4,100	$ 3,200

Selected Consolidated Financi_5

Selected Consolidated Financial Statement Information (Property and Equipment) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Property, Plant and Equipment [Line Items]
Total Property and equipment	$ 54,190	$ 51,223
Less: Accumulated depreciation	(25,155)	(22,329)
Total Property and equipment, net	29,035	28,894
Land
Property, Plant and Equipment [Line Items]
Total Property and equipment	572	572
Building
Property, Plant and Equipment [Line Items]
Total Property and equipment	22,420	22,420
Equipment
Property, Plant and Equipment [Line Items]
Total Property and equipment	24,340	21,203
Furniture
Property, Plant and Equipment [Line Items]
Total Property and equipment	3,376	3,376
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total Property and equipment	812	804
Construction in progress
Property, Plant and Equipment [Line Items]
Total Property and equipment	$ 2,670	$ 2,848

Selected Consolidated Financi_6

Selected Consolidated Financial Statement Information (Accrued Expenses) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Accrued expenses
Salaries and bonus	$ 8,082	$ 11,699
Acquisition consideration(1)	0	10,000
Commissions	8,104	7,869
Accrued vacation	2,345	3,011
Clinical studies	1,082	1,478
Accrued excise, sales and other taxes	953	1,464
Other	2,898	2,668
Accrued Liabilities, Current, Total	$ 23,464	$ 38,189

Revenue - Dissagregate (Details

Revenue - Dissagregate (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Net revenues	$ 236,222	$ 258,973	$ 236,545
United States
Disaggregation of Revenue [Line Items]
Net revenues	219,843	247,624	226,063
International
Disaggregation of Revenue [Line Items]
Net revenues	16,379	11,349	10,482
Peripheral
Disaggregation of Revenue [Line Items]
Net revenues	156,011	176,941	166,412
Coronary
Disaggregation of Revenue [Line Items]
Net revenues	$ 80,211	$ 82,032	$ 70,133

Revenue - Narratives (Details)

Revenue - Narratives (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue recognized	$ 2,487
Volume-based rebates, discounts and incentives, current	$ 1,315	$ 1,985

Acquisition (Details)

Acquisition (Details) - USD ($) $ in Thousands		12 Months Ended
	Aug. 05, 2019	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payments to Acquire Intangible Assets		$ 0	$ 0	$ 717
Charges incurred in connection with acquired IPR&D		0	3,353	$ 0
Additional Consideration Disbursement		1,700
Gross Carrying Amount		19,950	18,250
Developed Technology Rights
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross Carrying Amount		17,324	15,624
Trade Names
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross Carrying Amount		760	760
WavePoint Peripheral Support Catheters [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payments to Acquire Intangible Assets			3,353
Charges incurred in connection with acquired IPR&D			$ 3,353
Additional consideration, pending disbursement		$ 1,700
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
Shares issued (in shares)	31,493
Value of shares issued for acquisition	$ 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
Milestone payment target, excess threshold, term	36 months
Milestone payment target, excess threshold, term following successful manufacturing transfer	6 months
WIRION Embolic Protection System | Developed Technology Rights
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross Carrying Amount	$ 15,624
WIRION Embolic Protection System | Trade Names
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross Carrying Amount	$ 760

Intangible Assets - Finite-Live

Intangible Assets - Finite-Lived (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 19,950	$ 18,250
Accumulated Amortization	(4,216)	(2,874)
Net Book Value	$ 15,734	15,376
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]
Gross Carrying Amount	$ 17,324	15,624
Accumulated Amortization	(3,165)	(1,997)
Net Book Value	$ 14,159	13,627
Patents
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	20 years
Gross Carrying Amount	$ 1,866	1,866
Accumulated Amortization	(903)	(780)
Net Book Value	963	1,086
Trade Names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	760	760
Accumulated Amortization	(148)	(97)
Net Book Value	$ 612	$ 663

Intangible Assets - Amortizatio

Intangible Assets - Amortization (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Fiscal 2023	$ 1,381
Fiscal 2024	1,377
Fiscal 2025	1,374
Fiscal 2026	1,373
Fiscal 2027	1,371
Thereafter	8,858
Net Book Value	$ 15,734	$ 15,376

Debt (Revolving Credit Facility

Debt (Revolving Credit Facility) (Details) - Revolving Credit Facility - Silicon Valley Bank - USD ($) $ in Thousands	1 Months Ended
	Mar. 31, 2022	Mar. 31, 2020	Mar. 31, 2017	Jun. 30, 2022
Prime Rate
Debt Instrument [Line Items]
Percent Reduction to Prime Interest Rate			0.75%
Amendment One
Debt Instrument [Line Items]
Covenant, Minimum Unused Availability			$ 10,000
InterestRateIncreaseForNoncompliance			0.05
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.15%
Amendment One | Minimum
Debt Instrument [Line Items]
Covenant, Adjusted EBITDA			$ 1,000
Amendment One | Prime Rate
Debt Instrument [Line Items]
Line of Credit Facility, Expiration Date		Mar. 31, 2022
Line of Credit Facility, Maximum Borrowing Capacity		$ 50,000
Amendment Two
Debt Instrument [Line Items]
Early Termination Fee	1.50%
Line of Credit Facility, Fair Value of Amount Outstanding				$ 0
Amendment Two | Prime Rate
Debt Instrument [Line Items]
Line of Credit Facility, Expiration Date	Mar. 31, 2023

Debt (Financing Obligation) (De

Debt (Financing Obligation) (Details) - Headquarter Facility $ in Thousands	3 Months Ended
	Jun. 30, 2022 USD ($) options Rate
Capital Lease Obligations
Capital lease term of contract (in years)	15 years
Capital lease number of renewal options | options	4
Capital lease term of renewal (in years)	5 years
Annual base rent	$ 1,638
Annual interest rate escalations (as a percent) | Rate	3%
Effective interest rate (as a percent) | Rate	7.89%
Capital Leases, Future Payments
2023	$ 1,913
2024	1,970
2025	2,029
2026	2,090
2027	2,153
Thereafter	11,133
Total future minimum lease payments	$ 21,288

Marketable Securities & Fair _3

Marketable Securities & Fair Value Measurements - Available-for-sale Measured at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Marketable Securities [Abstract]
Short-term available-for-sale debt securities	$ 88,375	$ 129,908
Long-term available-for-sale debt securities	4,810	5,748
Recurring
Marketable Securities [Abstract]
Available-for-sale debt securities	93,185	135,656
Total marketable securities	93,409	135,968
Amortized Cost	93,452	135,646
Unrealized Gains	0	23
Unrealized Losses	(267)	(13)
Recurring | Commercial Paper [Member]
Marketable Securities [Abstract]
Available-for-sale debt securities	36,800	47,361
Total marketable securities	36,800	47,361
Amortized Cost	36,800	47,361
Unrealized Gains	0	0
Unrealized Losses	0	0
Recurring | US Government Debt Securities [Member]
Marketable Securities [Abstract]
Available-for-sale debt securities	14,927	20,230
Total marketable securities	14,927	20,230
Amortized Cost	14,994	20,229
Unrealized Gains	0	1
Unrealized Losses	(67)	0
Recurring | Corporate Debt Securities [Member]
Marketable Securities [Abstract]
Available-for-sale debt securities	27,051	57,134
Total marketable securities	27,051	57,134
Amortized Cost	27,193	57,134
Unrealized Gains	0	12
Unrealized Losses	(142)	(12)
Recurring | Asset-backed Securities [Member]
Marketable Securities [Abstract]
Available-for-sale debt securities	14,407	10,931
Total marketable securities	14,407	10,931
Amortized Cost	14,465	10,922
Unrealized Gains	0	10
Unrealized Losses	(58)	(1)
Recurring | Equity Funds [Member]
Marketable Securities [Abstract]
Total marketable securities	$ 224	$ 312

Marketable Securities & Fair _4

Marketable Securities & Fair Value Measurements - Fair Value Measurements (Details) - Recurring - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	$ 93,409	$ 135,968
Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	36,800	47,361
US Government Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	14,927	20,230
Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	27,051	57,134
Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	14,407	10,931
Equity Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	224	312
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	108	136
Fair Value, Inputs, Level 1 [Member] | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair Value, Inputs, Level 1 [Member] | US Government Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair Value, Inputs, Level 1 [Member] | Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair Value, Inputs, Level 1 [Member] | Equity Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	108	136
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	93,301	135,832
Fair Value, Inputs, Level 2 [Member] | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	36,800	47,361
Fair Value, Inputs, Level 2 [Member] | US Government Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	14,927	20,230
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	27,051	57,134
Fair Value, Inputs, Level 2 [Member] | Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	14,407	10,931
Fair Value, Inputs, Level 2 [Member] | Equity Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	116	176
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair Value, Inputs, Level 3 [Member] | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair Value, Inputs, Level 3 [Member] | US Government Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair Value, Inputs, Level 3 [Member] | Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair Value, Inputs, Level 3 [Member] | 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 ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Securities without Readily Determinable Fair Value, Amount	$ 12,333,000	$ 11,706,000
Future Payments To Acquire Long term Investments	1,410,000
Available For Sale Securities Debt Securities Strategic Investments	21,092,000
Transfers	0
Impairment	$ 0

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($)		12 Months Ended
	Nov. 11, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted		898	47,712	45,186
Share-based Payment Arrangement, Expense		$ 17,841,000	$ 16,230,000	$ 13,612,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost for non-vested awards not yet recognized		$ 10,053,000
Forfeiture rate		9.20%	17.50%	17%
Weighted-average period expected to recognize nonvested awards		1 year 7 months 6 days
Share-based Payment Arrangement, Expense		$ 15,041,000	$ 13,761,000	$ 11,629,000
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
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost for non-vested awards not yet recognized		$ 446,000
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost for non-vested awards not yet recognized		$ 4,150
Weighted-average period expected to recognize nonvested awards		1 year 9 months 18 days
Share-based Payment Arrangement, Expense		$ 4,959,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense		$ 1,051,000	$ 1,056,000	$ 865,000
Maximum period for payment on restricted stock unit following the six month anniversary date		30 days
Minimum period after grant date		2 years
2017 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	3,607,523
Common stock approved	3,607,523
Shares available for grant		2,126,600
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized	1,700,000

Stock-Based Compensation (Stock

Stock-Based Compensation (Stock Option Activity) (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Number of Options
Beginning balance (in shares)	85,406	42,528	0
Exercised (in shares)	(295)
Shares Granted, Value, Share-based Payment Arrangement, Forfeited			$ 2,658
Granted (in shares)	898	47,712	45,186
Forfeited	(15,298)	(4,834)
Ending balance (in shares)	70,711	85,406	42,528
Exercisable (in shares)	34,255
Outstanding, weighted average remaining contractual term	8 years 4 months 24 days
Weighted Average Exercise Price
Beginning balance (in usd per share)	$ 36.78	$ 38.13	$ 0
Exercises (in usd per share)	38.13
Granted (in usd per share)	38.02	35.67	38.13
Forfeited or expired (in usd per share)	31.48	37.61	38.13
Ending balance (in usd per share)	36.77	$ 36.78	$ 38.13
Exercisable (in usd per share)	$ 37.18
Exercisable, weighted average remaining contractual term	8 years 3 months 18 days

Stock-Based Compensation (Restr

Stock-Based Compensation (Restricted Stock) (Details) - $ / shares	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Number of Shares
Vested (in shares)		(166,086)
Weighted Average Grant Date Fair Value
Vested (in usd per share)		$ 13.96
Restricted Stock
Number of Shares
Outstanding at beginning of period (in shares)	467,942	434,067	474,945
Granted (in shares)	590,277	298,881	195,231
Forfeited (in shares)	(131,041)	(27,008)	(22,977)
Vested (in shares)	(248,279)	(237,998)	(213,132)
Outstanding at end of period (in shares)	678,899	467,942	434,067
Weighted Average Grant Date Fair Value
Outstanding at beginning of period (in usd per share)	$ 35.61	$ 38.34	$ 31.36
Granted (in usd per share)	27.57	31.20	46.32
Forfeited (in usd per share)	33.03	35.85	36.75
Vested (in usd per share)	36.31	35.19	29.77
Outstanding at end of period (in usd per share)	$ 28.88	$ 35.61	$ 38.34

Stock-Based Compensation (Perfo

Stock-Based Compensation (Performace-based Restricted Stock Award Activity) (Details) - $ / shares	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Number of Shares
Vested (in shares)		(166,086)
Weighted Average Grant Date Fair Value
Vested (in usd per share)		$ 13.96
Performance Shares
Number of Shares
Outstanding at beginning of period (in shares)	760,584	660,622	753,872
Granted (in shares)	306,550	339,395	207,891
Forfeited (in shares)	(175,918)	(73,347)	(25,948)
Vested (in shares)	(147,001)		(275,193)
Outstanding at end of period (in shares)	744,215	760,584	660,622
Weighted Average Grant Date Fair Value
Outstanding at beginning of period (in usd per share)	$ 20.26	$ 21.69	$ 15.20
Granted (in usd per share)	19.87	12.75	30.45
Forfeited (in usd per share)	21.22	13.63	16.48
Vested (in usd per share)	22.32		11.97
Outstanding at end of period (in usd per share)	$ 19.89	$ 20.26	$ 21.69
Total Shareholder Return | Performance Shares
Number of Shares
Granted (in shares)	306,550	339,395	207,891

Stock-Based Compensation (Res_2

Stock-Based Compensation (Restricted Stock Unit Activity) (Details) - Restricted Stock Units (RSUs) - $ / shares	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Number of Shares
Outstanding at beginning of period (in shares)	282,763	247,197	354,176
Granted (in shares)	30,512	35,566	20,689
Converted to common stock (in shares)	(91,795)		(125,352)
Forfeited (in shares)	(2,860)		(2,316)
Outstanding at end of period (in shares)	218,620	282,763	247,197
Weighted Average Grant Date Fair Value
Outstanding at beginning of period (in usd per share)	$ 20.77	$ 19.19	$ 17.23
Granted (in usd per share)	38.02	31.80	46.50
Converted to common stock	16.30		17.65
Forfeited (in usd per share)	38.02		46.97
Outstanding at end of period (in usd per share)	$ 24.84	$ 20.77	$ 19.19

Stock-Based Compensation (Emplo

Stock-Based Compensation (Employee Stock Purchase Plan) (Details) - Employee Stock Purchase Plan [Member]	12 Months Ended
	Jun. 30, 2022 $ / shares Rate shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Arrangement by Share Based Payment Award Equity Instruments Purchase Period	6 months
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | Rate	85%
Stock Issued During Period, Shares, Employee Stock Ownership Plan	225,147
Employee Stock Ownership Plan (ESOP), Weighted Average Purchase Price of Shares Purchased | $ / shares	$ 13.51
Employee Stock Ownership Plan (ESOP), Number of Allocated Shares	1,031,645

Stock-Based Compensation (Sto_2

Stock-Based Compensation (Stock-based Compensation Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 17,841	$ 16,230	$ 13,612
Restricted Stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	15,041	13,761	11,629
Restricted Stock Units (RSUs) [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	1,051	1,056	865
Employee Stock Purchase Plan [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	1,749	1,413	1,118
Cost of goods sold
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	655	782	626
Cost of goods sold | Restricted Stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	527	692	564
Cost of goods sold | Restricted Stock Units (RSUs) [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	0	0	0
Cost of goods sold | Employee Stock Purchase Plan [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	128	90	62
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	14,835	13,371	11,254
Selling, general and administrative | Restricted Stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	12,502	11,225	9,511
Selling, general and administrative | Restricted Stock Units (RSUs) [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	1,051	1,056	865
Selling, general and administrative | Employee Stock Purchase Plan [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	1,282	1,090	878
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	2,351	2,077	1,732
Research and development | Restricted Stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	2,012	1,844	1,554
Research and development | Restricted Stock Units (RSUs) [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	0	0	0
Research and development | Employee Stock Purchase Plan [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 339	$ 233	$ 178

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Lessee, Lease, Description [Line Items]
Operating Lease, Cost	$ 522	$ 503
Right-of-use asset obtained in exchange for operating lease liability	$ 104	2,238
Operating Lease, Weighted Average Remaining Lease Term	3 years 9 months 18 days
Operating Lease, Weighted Average Discount Rate, Percent	2.52%
Other Assets
Lessee, Lease, Description [Line Items]
Other assets	$ 1,852	$ 2,212

Leases - Balance Sheet Informat

Leases - Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Accrued expenses	$ 526	$ 487
Other liabilities	1,326	1,725
Total operating lease liabilities	$ 1,852	$ 2,212
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets

Leases, Assets and Liabilities

Leases, Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Lessee, Operating Lease, Liability, Payment, Due
Fiscal 2023	$ 534
Fiscal 2024	506
Fiscal 2025	494
Fiscal 2026	406
Fiscal 2027	2
Thereafter	0
Total lease payments	1,942
Less imputed interest	(90)
Total operating lease liabilities	$ 1,852	$ 2,212

Earnings Per Share (Reconciliat

Earnings Per Share (Reconciliation of Numerators and Denominators) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock, shares outstanding	40,965,202	40,215,554
Numerator
Net loss	$ (36,933)	$ (13,421)	$ (27,236)
Income allocated to participating securities	0	0	0
Net loss available to common stockholders	$ (36,933)	$ (13,421)	$ (27,236)
Denominator
Weighted average common shares outstanding - basic (in shares)	39,229,734	38,832,002	34,275,957
Weighted average common shares outstanding - diluted (in shares)	39,229,734	38,832,002	34,275,957
Earnings per common share - basic (in dollars per share)	$ (0.94)	$ (0.35)	$ (0.79)
Earnings per common share - diluted (in dollars per share)	$ (0.94)	$ (0.35)	$ (0.79)
Stock Options
Denominator
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	0	0	0
Restricted Stock Units (RSUs)
Denominator
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	0	0	0
Performance Shares
Denominator
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	0	0	0

Earnings Per Share (Details Tex

Earnings Per Share (Details Textual) - shares	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock, shares outstanding	40,965,202	40,215,554
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock, shares outstanding			42,528

Employee Benefits (Details)

Employee Benefits (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2022 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Contribution by employee in plan	$ 20
Age of eligible employees for contribute additional amount	50 years
Additional contribution by employee in plan	$ 7
Minimum age for qualifying in 401(a) plan	21 years
Document Period End Date	Jun. 30, 2022
Other Liabilities
Defined Benefit Plan Disclosure [Line Items]
Deferred compensation payable, current	$ 134
Accrued Expenses
Defined Benefit Plan Disclosure [Line Items]
Deferred compensation payable, current	$ 89

Income Taxes (Deferred Tax Asse

Income Taxes (Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Deferred tax assets
Stock-based compensation	$ 5,157	$ 5,012
Deferred revenue	511	1,115
Accrued expenses and compensation	868	492
Other	3,877	4,119
Research and development credit carryforwards	8,915	6,695
Net operating loss carryforwards	78,148	71,940
Total deferred tax assets	97,476	89,373
Valuation allowance	(97,476)	(89,373)	$ (87,357)	$ (78,744)
Net deferred tax assets	$ 0	$ 0

Income Taxes (Valuation Allowan

Income Taxes (Valuation Allowance) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Summary of valuation allowances
Beginning balance	$ 89,373	$ 87,357	$ 78,744
Reductions	8,103	2,016	8,613
Ending balance	$ 97,476	$ 89,373	$ 87,357

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Operating Loss Carryforwards [Line Items]
Liability relating to unrecognized tax benefits	$ 1,191	$ 1,042	$ 711	$ 611
Federal
Operating Loss Carryforwards [Line Items]
Tax NOL carryforwards	327,997	299,928
Research and development credit carryforwards	7,658	5,632
State
Operating Loss Carryforwards [Line Items]
Research and development credit carryforwards	$ 2,845	$ 2,287

Income Taxes (Unrecognized Tax

Income Taxes (Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Reconciliation of beginning and ending amount of unrecognized tax benefits
Beginning balance	$ 1,042	$ 711	$ 611
Increases related to prior year tax positions		226	36
Decreases related to prior year tax positions	(14)
Increases related to current year tax positions	(163)	(105)	(64)
Ending balance	$ 1,191	$ 1,042	$ 711