Vintage Wine Estates (VWESQ) 10-Q/A 13 Sep 22 2022 Q3 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2022	May 02, 2022
Document Information [Line Items]
Document Type	10-Q/A
Document Quarterly Report	true
Amendment Flag	true
Amendment Description	In this Amendment No. 1 on Form 10-Q/A, Vintage Wine Estates, Inc. (“VWE”, “we”, “us”, "our" or “the Company”) is amending its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2022 filed with the Securities and Exchange Commission (“SEC”) on May 16, 2022 (the "Original 10-Q"). We are filing this amended Quarterly Report on Form 10-Q/A to restate our previously issued unaudited condensed consolidated financial statements and related financial information as of, and for, the three and nine months ended March 31, 2022 (the "Subject Periods").
Document Period End Date	Mar. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Registrant Name	VINTAGE WINE ESTATES, INC.
Entity Central Index Key	0001834045
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--06-30
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		60,945,682
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	87-1005902
Entity Address Address Line One	937 Tahoe Boulevard
Entity File Number	001-40016
Entity Address Address Line Two	Suite 210
Entity Address City Or Town	Incline Village
Entity Address State Or Province	NV
Entity Address Postal Zip Code	89451
City Area Code	877
Local Phone Number	289-9463
Document Transition Report	false
Common stock
Document Information [Line Items]
Security12b Title	Common stock, no par value per share
Trading Symbol	VWE
Security Exchange Name	NASDAQ
Warrants
Document Information [Line Items]
Security12b Title	Warrants to purchase common stock
Trading Symbol	VWEWW
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020
Current assets:
Cash	$ 69,109			$ 118,879
Restricted cash	6,600			4,800
Accounts receivable, net	39,649			21,193
Other receivables	13,668			7,490
Inventories	221,264			221,145
Interest rate swap assets	716			0
Prepaid expenses and other current assets	10,968			8,538
Total current assets	361,974			382,045
Property, plant, and equipment, net	234,141			213,673
Goodwill	158,185			109,895
Intangible assets, net	64,809			36,079
Interest rate swap assets, long-term	4,417			0
Other assets	7,635			1,806
Total assets	831,161			743,498
Current liabilities
Line of credit	146,732			87,351
Accounts payable	14,777			17,301
Accrued liabilities and other payables	33,138			25,078
Interest rate swap liabilities	977			0
Current maturities of long-term debt	21,200			22,964
Total current liabilities	216,824			152,694
Other long-term liabilities	8,740			2,767
Long-term debt, less current maturities	172,324			183,541
Interest rate swap liabilities, noncurrent	0			13,807
Deferred tax liability	29,965			16,752
Deferred gain	10,999			12,000
Total liabilities	438,852			381,561
Commitments and contingencies (Note 13)
Redeemable noncontrolling interest	1,684			1,682
Stockholders' equity
Preferred stock, no par value, 2,000,000 shares authorized, and none issued and outstanding at March 31, 2022 and June 30, 2021.	0			0
Common stock, no par value, 200,000,000 shares authorized, 61,691,054 issued and 61,377,515 outstanding at March 31, 2022 and 60,461,611 issued and outstanding at June 30, 2021.	0			0
Additional paid-in capital	373,196			360,732
Treasury stock, at cost: 313,539 and zero shares held at March 31, 2022 at March 31, 2022 June 30, 2021, respectively	(2,833)			0
Retained earnings	20,880			0
Total Vintage Wine Estates, Inc. stockholders' equity	391,243			360,732
Noncontrolling interests	(618)			(477)
Total stockholders' equity	390,625	$ 371,578	$ 363,031	360,255	$ 123,304	$ 122,527	$ 113,150	$ 107,736
Total liabilities, redeemable noncontrolling interest, and stockholders' equity	$ 831,161			$ 743,498

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2022	Jun. 30, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value | $ / shares	$ 0	$ 0
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value | $ / shares	$ 0	$ 0
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	61,691,054	60,461,611
Common stock, shares outstanding	61,377,515	60,461,611
Repurchases of common stock	313,539	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Net revenues
Net revenues	$ 78,933	$ 46,897	$ 218,231	$ 163,709
Cost of revenues
Cost of revenues	50,916	28,656	128,314	99,468
Gross profit	28,017	18,241	89,917	64,241
Selling, general, and administrative expenses	27,035	18,378	70,662	50,932
Loss (gain) on sale of property, plant, and equipment	98	(322)	(493)	(1,999)
Gain on litigation proceeds	0	0	0	4,750
Income from operations	884	184	19,748	20,058
Other income (expense)
Interest expense	(3,729)	(3,842)	(10,825)	(9,173)
Net unrealized gain on interest rate swap agreements	13,841	5,589	17,870	8,212
Other, net	1,957	327	1,945	684
Total other income (expense), net	12,069	2,075	8,990	(277)
Income before provision for income taxes	12,953	2,259	28,738	19,780
Income tax provision	3,543	1,633	7,997	4,517
Net income	9,410	626	20,741	15,263
Net income (loss) attributable to the noncontrolling interests	(74)	53	(139)	343
Net income attributable to Vintage Wine Estates, Inc.	9,484	573	20,880	14,920
Accretion on redeemable Series B stock	0	1,446	0	4,760
Net income (loss) allocable to common stockholders	$ 9,484	$ (873)	$ 20,880	$ 10,160
Net earnings (loss) per share allocable to common stockholders
Basic	$ 0.15	$ (0.04)	$ 0.34	$ 0.38
Diluted	$ 0.15	$ (0.04)	$ 0.34	$ 0.35
Weighted average shares used in the calculation of earnings per share allocable to common stockholders
Basic	61,410,403	21,920,583	60,773,258	21,920,583
Diluted	61,410,403	21,920,583	60,773,258	24,564,309
Wine Spirits and Cider [Member]
Net revenues
Net revenues	$ 50,859	$ 37,238	$ 157,292	$ 132,086
Cost of revenues
Cost of revenues	38,764	23,561	98,428	82,180
Nonwine [Member]
Net revenues
Net revenues	28,074	9,659	60,939	31,623
Cost of revenues
Cost of revenues	$ 12,152	$ 5,095	$ 29,886	$ 17,288

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock [Member]	Additional Paid-In Capital	Retained Earnings	Non-Controlling Interests	Redeemable Non controlling Interest
BEGINNING BALANCE at Jun. 30, 2020	$ 107,736			$ 92,940	$ 15,191	$ (395)
BEGINNING BALANCE (in Shares) at Jun. 30, 2020		26,460,375
Redeemable Non-Controlling Interest Beginning Balance at Jun. 30, 2020							$ 1,382
Accretion on redeemable stock				5,880	(5,880)
Stock-based compensation expense	330			330
Temporary equity, Net income (loss)							278
Net income (loss)	5,084				5,058	26
Redeemable Non-Controlling Interest Ending Balance at Sep. 30, 2020							1,660
ENDING BALANCE at Sep. 30, 2020	113,150			99,150	14,369	(369)
ENDING BALANCE (in Shares) at Sep. 30, 2020		26,460,375
BEGINNING BALANCE at Jun. 30, 2020	$ 107,736			92,940	15,191	(395)
BEGINNING BALANCE (in Shares) at Jun. 30, 2020		26,460,375
Redeemable Non-Controlling Interest Beginning Balance at Jun. 30, 2020							1,382
Treasury Stock, Shares, Acquired	313,539
Redeemable Non-Controlling Interest Ending Balance at Mar. 31, 2021							1,654
ENDING BALANCE at Mar. 31, 2021	$ 123,304			114,766	8,886	(348)
ENDING BALANCE (in Shares) at Mar. 31, 2021		26,460,375
BEGINNING BALANCE at Sep. 30, 2020	113,150			99,150	14,369	(369)
BEGINNING BALANCE (in Shares) at Sep. 30, 2020		26,460,375
Redeemable Non-Controlling Interest Beginning Balance at Sep. 30, 2020							1,660
Accretion on redeemable stock				5,376	(5,376)
Stock-based compensation expense	128			128
Temporary equity, Net income (loss)							2
Net income (loss)	9,249				9,289	(40)
Redeemable Non-Controlling Interest Ending Balance at Dec. 31, 2020							1,662
ENDING BALANCE at Dec. 31, 2020	122,527			104,654	18,282	(409)
ENDING BALANCE (in Shares) at Dec. 31, 2020		26,460,375
Accretion on redeemable stock				9,969	(9,969)
Stock-based compensation expense	143			143
Temporary equity, Net income (loss)							(8)
Net income (loss)	634				573	61
Redeemable Non-Controlling Interest Ending Balance at Mar. 31, 2021							1,654
ENDING BALANCE at Mar. 31, 2021	123,304			114,766	8,886	(348)
ENDING BALANCE (in Shares) at Mar. 31, 2021		26,460,375
BEGINNING BALANCE at Jun. 30, 2021	360,255			360,732		(477)
BEGINNING BALANCE (in Shares) at Jun. 30, 2021		60,461,611
Redeemable Non-Controlling Interest Beginning Balance at Jun. 30, 2021	1,682						1,682
Temporary equity, Net income (loss)							3
Net income (loss)	2,776				2,804	(28)
Redeemable Non-Controlling Interest Ending Balance at Sep. 30, 2021							1,685
ENDING BALANCE at Sep. 30, 2021	363,031			360,732	2,804	(505)
ENDING BALANCE (in Shares) at Sep. 30, 2021		60,461,611
Temporary equity, Net income (loss)							5
Net income (loss)	8,547				8,592	(45)
Redeemable Non-Controlling Interest Ending Balance at Dec. 31, 2021							1,690
ENDING BALANCE at Dec. 31, 2021	371,578			360,732	11,396	(550)
ENDING BALANCE (in Shares) at Dec. 31, 2021		60,461,611
Stock-based compensation expense	1,943			1,943
Issuance of Series A Stock in business combination	$ 10,521			10,521
Issuance of Series A Stock in business combination, share		1,229,443
Treasury Stock, Shares, Acquired	313,539		313,539
Treasury Stock, Value, Acquired, Cost Method	$ (2,833)		$ (2,833)
Temporary equity, Net income (loss)							(6)
Net income (loss)	2,712				2,780	(68)
Net income loss adjusted amount	9,416				9,484
Redeemable Non-Controlling Interest Ending Balance at Mar. 31, 2022	1,684						$ 1,684
ENDING BALANCE at Mar. 31, 2022	$ 390,625		$ (2,833)	$ 373,196	$ 20,880	$ (618)
ENDING BALANCE (in Shares) at Mar. 31, 2022		61,691,054	313,539

Condensed Consolidated Statem_3

Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities
Net income	$ 20,741	$ 15,263
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	17,365	7,732
Amortization of deferred loan fees and line of credit fees	296	357
Amortization of label design fees	668	251
Litigation proceeds	0	(4,750)
Stock-based compensation expense	1,943	601
Provision for doubtful accounts	45	87
Impairment of inventory	0	3,302
Net unrealized gain on interest rate swap agreements	(17,870)	(8,212)
(Benefit) provision for deferred income tax	888	0
Loss (gain) on disposition of assets	508	(999)
Deferred gain on sale leaseback	(1,000)	(1,000)
Deferred rent	285	376
Change in operating assets and liabilities (net of effect of business combinations):
Accounts receivable	(21,261)	(1,001)
Related party receivables	0	(2,038)
Other receivables	376	(2,338)
Litigation receivable	0	4,750
Inventories	4,244	(8,964)
Prepaid expenses and other current assets	(2,232)	(5,829)
Other assets	(6,215)	1,688
Accounts payable	(8,106)	616
Accrued liabilities and other payables	5,421	16,073
Related party liabilities	0	3,698
Net cash (used in) provided by operating activities	(3,903)	19,661
Cash flows from investing activities
Proceeds from disposition of assets	105	1,064
Purchases of property, plant, and equipment	(15,723)	(30,688)
Label design expenditures	(225)	(375)
Proceeds on related party notes receivable	0	756
Acquisition of businesses	(74,268)	0
Net cash used in investing activities	(90,111)	(29,243)
Cash flows from financing activities
Repurchase of common stock	(2,833)	0
Principal payments on line of credit	(67,210)	(25,195)
Proceeds from line of credit	126,591	32,281
Outstanding checks in excess of cash	2,900	9,277
Principal payments on long-term debt	(13,178)	(15,234)
Proceeds from long-term debt	0	8,902
Principal payments on related party note	0	(489)
Deferred offering costs	0	(768)
Payments on acquisition payable	(226)	(486)
Net cash provided by financing activities	46,044	8,287
Net change in cash and restricted cash	(47,970)	(1,295)
Cash and restricted cash, beginning of period	123,679	1,751
Cash and restricted cash, end of period	75,709	456
Cash paid during the period for:
Interest	9,415	9,230
Income taxes	22	25
Noncash investing and financing activities:
Contingent consideration in a business combination	8,460	0
Issuance of common stock in business combination	10,521
Accretion of redemption value of Series B redeemable cumulative stock	0	4,760
Accretion of redemption value of Series A redeemable stock	0	16,466
Offering costs	$ 0	$ 535

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	1 . Basis of Presentation and Si gnificant Accounting Policies Basis of Presentation The condensed consolidated financial statements include the accounts of all majority-owned or controlled subsidiaries, and all significant intercompany transactions and amounts have been eliminated. The results of businesses acquired or disposed of are included in the condensed consolidated financial statements from the date of the acquisition or up to the date of disposal, respectively. References to the "Company", "we," "our," "us," and similar pronouns in this Quarterly Report on Form 10-Q/A for the quarter ended March 31, 2022 (this "Form 10-Q/A") refer to Vintage Wine Estates, Inc., a Nevada corporation, and its majority owned subsidiaries or controlled subsidiaries unless the context requires otherwise. Our fiscal year ends on June 30. References to fiscal 2022 and 2021 in these condensed consolidated financial statements are to the fiscal years ending or ended June 30, 2022 and June 30, 2021, respectively. Our unaudited condensed consolidated financial statements have been prepared in accordance with the U.S. Securities and Exchange Commission ("SEC") instructions to Quarterly Reports on Form 10-Q and include the information and disclosures required by accounting principles generally accepted in the United States ("GAAP") for interim financial reporting. The COVID-19 pandemic ("COVID-19") continues to affect the U.S. and global economies. Restrictions imposed by federal, state, and local governments have disrupted and will continue to disrupt our business. While many of the restrictions have expired, some are continuing. We expect the COVID-19 pandemic to have a minimal impact on sales revenues, as we believe we are well-positioned to take advantage of increased direct-to-consumer sales platforms in lieu of in-person transactions. In the opinion of management, all adjustments necessary for a fair presentation of the condensed consolidated financial statements have been included. Except as disclosed elsewhere in this Form 10-Q/A, all such adjustments are of a normal and recurring nature. In addition, financial results presented for this fiscal 2022 interim period are not necessarily indicative of the results that may be expected for the full fiscal year ending June 30, 2022 or any other future interim or annual period. These condensed consolidated financial statements are unaudited and accordingly, should be read in conjunction with the audited consolidated financial statements and related notes contained in our Annual Report on Form 10-K for the fiscal year ended June 30, 2021, filed with the SEC on October 13, 2021. The June 30, 2021 condensed consolidated balance sheet was derived from the audited consolidated financial statements as of that date. Merger and Reverse Recapitalization We were formed in 2019 as Bespoke Capital Acquisition Corp. (“BCAC”), a special purpose acquisition company incorporated under the laws of the Province of British Columbia. BCAC was organized for the purpose of effecting an acquisition of one or more businesses or assets by way of a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or any other similar business combination involving BCAC. On June 7, 2021, BCAC completed its business combination (the "Merger") with Vintage Wine Estates, Inc., a California corporation ("Legacy VWE") pursuant to a transaction agreement dated February 3, 2021 (as amended, the “Transaction Agreement”) by the merger of VWE Acquisition Sub Inc., a wholly owned subsidiary of BCAC (“merger sub”) with and into Legacy VWE, with Legacy VWE continuing as the surviving entity and as a wholly owned subsidiary of BCAC. In connection with the Merger, BCAC changed its jurisdiction of incorporation from the Province of British Columbia to the State of Nevada and BCAC changed its name to Vintage Wine Estates, Inc. Upon the consummation of the Merger, the Company received approxi mately $ 248.7 millio n, net of fees and expenses. See Note 3 for additional details regarding the transaction. Significant Accounting Policies A description of the Company’s significant accounting policies is included in the audited financial statements within its Annual Report on Form 10-K for the fiscal year ended June 30, 2021. Except as noted below, there have been no material changes in the Company’s significant accounting policies during the nine months ended March 31, 2022. Use of Estimates The preparation of financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. These estimates form the basis for judgments we make about the carrying values of assets and liabilities that are not readily apparent from other sources. We base our estimates and judgments on historical experience and on various other assumptions that we believe are reasonable under the circumstances. These estimates are based on management’s knowledge about current events and expectations about actions we may undertake in the future. Significant estimates include, but are not limited to depletion allowance, allowance for doubtful accounts, the net realizable value of inventory, expected future cash flows including growth rates, discount rates, and other assumptions and estimates used to evaluate the recoverability of long-lived assets, estimated fair values of intangible assets in acquisitions, intangible assets and goodwill for impairment, amortization methods and periods, amortization period of label and package design costs, the estimated fair value of long-term debt, the valuation of interest rate swaps, contingent consideration, common stock, stock-based compensation and accounting for income taxes. Actual results could differ materially from those estimates. Reclassifications Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations. Specifically, we reclassified accrued trade commissions to other accrued expenses and reclassified custom production and other receivables to Wholesale trade accounts receivables. Cash Cash consists of deposits held at financial institutions. Restricted Cash The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheet that sums to the total of the same such amounts as shown in the condensed consolidated statement of cash flows: (in thousands) March 31, 2022 June 30, 2021 Cash and cash equivalents $ 69,109 $ 118,879 Restricted cash 6,600 4,800 Total cash, cash equivalents and restricted cash as shown in the condensed consolidated statement of cash flows $ 75,709 $ 123,679 Restricted cash consists of $ 4.8 million that was deposited into a restricted cash account as collateral for the credit facility, subject to release upon the completion of certain construction costs and $ 1.8 million that was deposited into a restricted cash account as collateral for our captive insurance letter of credit. I nterest Rate Swap Agreements GAAP requires that an entity recognize all derivatives (including interest rate swaps) as either assets or liabilities on the consolidated balance sheets and measure these instruments at fair value. The Company has entered into interest rate swap agreements as a means of managing its interest rate exposure on its debt obligations. These agreements mitigate our exposure to interest rate fluctuations on our variable rate obligations. We have not designated these agreements as cash-flow hedges. Accordingly, changes in the fair value of the interest rate swaps are included in the condensed consolidated statements of operations as a component of other income (expense). We do not enter into financial instruments for trading or speculative purposes. Revenue Recognition Point in Time —Revenue is recognized when control of promised goods or services is transferred to a customer in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To determine revenue recognition, we perform the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. We recognize revenue when obligations under the terms of a contract with our customers are satisfied. Generally, this occurs when the product is shipped and title passes to the customer, and when control of the promised product or service is transferred to the customer. Our standard terms are free on board (“FOB”) shipping point, with no customer acceptance provisions. Revenue is measured as the amount of consideration expected to be received in exchange for transferring products. Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental authorities. We account for shipping and handling as activities to fulfill our promise to transfer the associated products. Accordingly, we record amounts billed for shipping and handling costs as a component of net sales and classify such costs as a component of costs of sales. Our products are generally not sold with a right of return unless the product is spoiled or damaged. Historically, returns have not been significant to the Company. Over Time —Certain long-term contracts in our Business-to-Business ("B2B") segment are for custom wine making services and include services such as fermentation, barrel aging, procurement of dry goods, bottling and cased goods. Additionally, we provide storage services for wine inventory of various customers. We recognize revenue over time as the contract specific performance obligations are met. Disaggregation of Revenue The following tables summarizes revenue by geographic region: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2022 2021 2022 2021 Geographic regions: United States $ 77,586 $ 45,929 $ 213,713 $ 159,830 Canada 500 644 1,812 1,997 Europe, Middle East, & Africa 180 55 821 261 Asia Pacific 488 157 1,325 1,211 Other 179 112 560 410 Total net revenue $ 78,933 $ 46,897 $ 218,231 $ 163,709 The following table provides a disaggregation of revenue based on the pattern of revenue recognition: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2022 2021 2022 2021 Point in time $ 65,170 $ 38,285 $ 180,116 $ 137,328 Over a period of time 13,763 8,612 38,115 26,381 Total net revenue $ 78,933 $ 46,897 $ 218,231 $ 163,709 Concentrations of Risk Financial instruments that potentially expose us to significant concentrations of credit risk consist primarily of cash and trade accounts receivable. We maintain the majority of our cash balances at multiple financial institutions that management believes are of high-credit quality and financially stable. At times, we have cash deposited with major financial institutions in excess of the Federal Deposit Insurance Corporation ("FDIC") insurance limits. At March 31, 2022 and June 30, 2021, we had $ 65.8 million and $ 121.6 million respectively, in one major financial institution in excess of FDIC insurance limits. We sell the majority of our wine through U.S. distributors and the Direct-to-Consumer channel. Receivables arising from these sales are not collateralized. We attempt to limit our credit risk by performing ongoing credit evaluations of our customers and maintaining adequate allowances for potential credit losses. The following table summarizes customer concentration: Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Revenue as a percent of total revenue Customer A 15.6 % 41.0 % 18.3 % 40.0 % Customer B * * 10.0 % 12.0 % Customer C * * 10.1 % * Customer D * * * * The following table summarizes customer concentration: March 31, 2022 June 30, 2021 Receivables as a percent of total receivables Customer A 44.3 % 35.0 % Customer B * 21.0 % Customer C * * Customer D 11.5 % 10.4 % * Customer revenue or receivables did not exceed 10% in the respective periods. Revenues for sales from Customer A are included within the Wholesale and Business-to-Business reporting segments, Customer B are included within the Business-to-Business reporting segment and Customer C and Customer D are included within the Wholesale reporting segment. Inventories Inventories of bulk and bottled wines, spirits, and ciders and inventories of non-wine products and bottling and packaging supplies are valued at the lower of cost using the FIFO method or net realizable value. Costs associated with winemaking, and other costs associated with the manufacturing of products for resale, are recorded as inventory. Net realizable value is the value of an asset that can be realized upon the sale of the asset, less a reasonable estimate of the costs associated with either the eventual sale or the disposal of the asset in question. Inventories are classified as current assets in accordance with recognized industry practice, although most wines and spirits are aged for periods longer than one year. Business Combinations Business combinations are accounted for under Accounting Standards Codification (“ASC”) 805—Business Combinations, using the acquisition method of accounting under which all acquired tangible and identifiable intangible assets and assumed liabilities and applicable noncontrolling interests are recognized at fair value as of the respective acquisition date, while the costs associated with the acquisition of a business are expensed as incurred. The allocation of purchase consideration requires management to make significant estimates and assumptions, especially with respect to intangible assets. These estimates can include, but are not limited to, a market participant’s expectation of future cash flows from acquired customers, acquired trade names, useful lives of acquired assets, and discount rates. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from such estimates. During the measurement period, which is generally no longer than one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed. Upon the conclusion of the measurement period, any subsequent adjustments are recognized in operations. Segment Information We operate in three reportable segments. Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and assessing performance. The Company’s chief operating decision maker (“CODM”), our Chief Executive Officer, allocates resources and assesses performance based upon discrete financial information at the segment level. Income Taxes Deferred income taxes are determined using the asset and liability method. Under this method, deferred income tax assets and liabilities are determined based on differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is recorded when the expected recognition of a deferred income tax asset is considered to be unlikely. We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the tax authorities, based on the technical merits of the position. The tax benefit is measured based on the largest benefit that has a greater than 50 % likelihood of being realized upon ultimate settlement. We recognize interest and penalties related to income tax matters as a component of income tax expense. Stock-Based Compensation Stock-based compensation provided to employees is recognized in the consolidated statement of operations based on the grant date fair value of the awards. The fair value of restricted stock units is determined by the grant date market price of our common shares. The fair value of stock options is determined on the grant date using a Monte Carlo simulation model. The determination of the grant date fair value of stock option awards granted is affected by a number of variables, including the fair value of the Company's common stock, the expected common stock price volatility over the life of the awards, the expected term of the stock option, risk-free interest rates and the expected dividend yield of the Company's common stock. Due to the Company's limited trading history since becoming a public company on June 7, 2021, the Company derived its volatility from the average historical stock volatilities of several peer public companies over a period equivalent to the expected term of the awards. The compensation expense recognized for stock-based awards is net of estimated forfeitures and is recognized ratably over the service period of the awards. All income tax effects of stock-based awards are recognized in the consolidated statements of operations as awards vest or are settled. We classify stock-based compensation expense in selling, general and administrative ("SG&A") expenses in the consolidated statement of operations. Earnout Shares The Legacy VWE shareholders may become entitled to receive up to an additional 5,726,864 shares of the Company’s common stock (the “Earnout Shares”) pursuant to the Transaction Agreement. The Earnout Shares will be released if the price of our common stock meets certain thresholds in the 24 months following the closing of the Merger (see Note 3). The Earnout Shares meet the accounting definition of a derivative financial instrument, are considered to be indexed to the Company’s common stock and meet other conditions in ASC 815-40, Derivatives and Hedging: Contracts in Entity's Own Equity , to be classified as equity. The Company’s obligation to issue the Earnout Shares is recorded as a dividend to the Legacy VWE shareholders at fair value as of the date of the Merger. The fair value of the Earnout Shares was determined using a Monte Carlo valuation model, which requires significant estimates including the expected volatility of our common stock. The expected annual volatility of our common stock was estimated to be 55.0 % as of the date of the Merger, based on the historical volatility of comparable publicly traded companies. Redeemable Series A and Series B Stock Prior to the Merger, Legacy VWE had Series A and B stock outstanding. All of the Series B stock and the majority of the Series A stock was classified as temporary equity due to the shares being redeemable at the option of the holder. The carrying value of the redeemable Series A stock and redeemable Series B stock was being accreted to its respective redemption values, using the effective interest method, from the date of issuance to the earliest date the holders could demand redemption. Accretion of redeemable Series B stock included the accretion of dividends and issuance costs. Increases to the carrying value of redeemable Series A stock and redeemable Series B stock were charged to retained earnings or, in its absence, to additional paid-in-capital. Up on any repurchase of redeemable stock, the excess consideration paid over the carrying value at the time of repurchase is accounted for as a deemed dividend to the stockholders. In conjunction with the closing of the Merger, a majority of the redeemable Series B stock was redeemed and the remaining redeemable Series B shares, along with all redeemable Series A shares, were converted into shares of the Company's common stock. All Series A and Series B shares which were converted into shares of the Company's common stock were retroactively adjusted using the exchange ratio and reclassified into permanent equity as a result of the Merger. Earnings Per Share Basic and diluted net income (loss) per share allocable to common stockholders is presented in conformity with the two-class method required for participating securities. We considered our Series B stock to be participating securities as, in the event a dividend is paid on Series A stock, the holders of Series B stock would be entitled to receive dividends on a basis consistent with the Series A stockholders. The two-class method determines net income per share for each class of common and participating securities according to dividends declared or accumulated as well as participation rights in undistributed earnings. The two-class method requires income available to stockholders for the period to be allocated between common and participating securities based upon their respective rights to receive dividends as if all income for the period had been distributed. Legacy VWE’s redeemable Series B stock was considered to be a participating security. Under the two-class method, any net loss attributable to common stockholders is not allocated to the Series B stock as the holders of the Series B stock did not have a contractual obligation to share in losses. Basic net income (loss) per share is calculated by dividing the net income (loss) allocable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. For purposes of the calculation of diluted net income (loss) per share, convertible debt (previously convertible into Legacy VWE Series A stock) and stock options and warrants to purchase common stock are considered potentially dilutive securities but are excluded from the calculation of diluted net income (loss) per share when their effect is antidilutive. As a result, in certain periods, diluted net loss per share is the same as the basic net loss per share for the periods presented. The computation of net income (loss) available to Series A stockholders is computed by deducting the dividends declared, if any, and cumulative dividends, whether or not declared, in the period on Series B stock (whether paid or not) from the reported net income (loss). As the Merger has been accounted for as a reverse recapitalization, the consolidated financial statements of the merged entity reflect the continuation of Legacy VWE’s consolidated financial statements, with the Legacy VWE equity, which has been retroactively adjusted to the earliest period presented to reflect the legal capital of the legal acquirer, BCAC. As a result, net income (loss) per share was also restated for periods ended prior to the Merger. Self-Insurance On September 9, 2021, the Company formed VWE Captive, LLC, a wholly-owned captive insurance company ("Captive"), which became operational on October 1, 2021. The Company formed Captive to self-insure the first $ 10.0 million of claims, above which limit, Captive has secured insurance. The insurance policy protects us against a portion of our risk of loss related to earthquakes, flood and named wildfires and windstorms. Emerging Growth Company Status We are an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act, until such time as those standards apply to private companies. We have elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that we (i) are no longer an emerging growth company or (ii) affirmatively and irrevocably opt out of the extended transition period provided in the JOBS Act. Recently Adopted Accounting Pronouncements In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides optional expedients and exceptions to applying the guidance on contract modifications, hedge accounting, and other transactions, to simplify the accounting for transitioning from the London Interbank Offered Rate, and other interbank offered rates expected to be discontinued, to alternative reference rates. The guidance in this ASU was effective upon its issuance; if elected, it is to be applied prospectively through December 31, 2022. The impact this ASU will have on our condensed consolidated financial statements will not be known until we have a modification to our financial instruments converting from LIBOR to another interest rate. Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (“Topic 842”), which supersedes the guidance in ASC 840, Leases . The new standard, as amended by subsequent ASUs on Topic 842 and recent extensions issued by the FASB in response to COVID-19, requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases t oday. Topic 842 will be effective for the Company for fiscal year ending June 30, 2023 and for interim periods in the year beginning July 1, 2022. We have not yet determined the full effects of Topic 842 on the Company's consolidated financial statements but do expect that it will result in a substantial increase in our long-term assets and liabilities and enhanced disclosures. Based on our initial assessment, we plan to be using the modified retrospective approach and electing the package of transition practical expedients for expired or existing contracts, which retains prior conclusions reached on lease identification, classification, and initial direct costs incurred. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. The adoption of this guidance will at least result in the recognition of operating lease right-of-use assets and operating lease liabilities in our vineyard leases with a weighted-average remaining lease term of less than 10 years upon the adoption on July 1, 2022. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , as amended, which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. It also eliminates the concept of other-than-temporary impairment and requires credit losses related to available-for-sale debt securities to be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. These changes will result in more timely recognition of credit losses. The guidance is effective for the Company for fiscal year ending on June 30, 2024 and interim periods beginning for the fiscal year commencing on July 1, 2023. Early adoption is permitted. We do not expect the adoption of this standard will have a significant impact on the consolidated financial statements given our historically low bad debt expense. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes (Topic 740) . The amendments in the updated guidance simplify the accounting for income taxes by removing certain exceptions and improving consistent application of other areas of the topic by clarifying the guidanc e. The amendments in this update are effective for the Company for fiscal year ending June 30, 2023 and interim periods within the fiscal years beginning after December 15, 2022. Early adoption is permitted. We are currently evaluating the impact and timing of adopting ASU 2019-12, however at this time, the adoption is not expected to have a significant impact on the consolidated financial statements. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers . The amendments in the updated guidance require that an entity recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. The amendments in this update are effective for the Company for fiscal years ending June 30, 2024 and for interim periods in the year beginning July 1, 2023. Early adoption is permitted including adoption at an interim period. We are currently evaluating the impact and timing of adopting ASU 2021-08, however at this time, the adoption is not expected to have a significant impact on the consolidated financial statements.

Restatement of Previously Issue

Restatement of Previously Issued Condensed Consolidated Financial Statements	9 Months Ended
	Mar. 31, 2022
Accounting Changes and Error Corrections [Abstract]
Restatement of Previously Issued Condensed Consolidated Financial Statements	2 . Restatement of Previously Issued Condensed Consolidated Financial Statements The Company has restated its condensed consolidated statements as of and for the three and nine months ended March 31, 2022. During the audit for the fiscal year ending June 30, 2022, an accounting error was identified in the treatment of the Company's accounting for interest rate swap liabilities that materially impacted our condensed consolidated financial statements for the three and nine months ended March 31, 2022. The Company had erroneously accounted for these interest rate swaps as liabilities when the interest rate swaps should have been accounted for as assets. The error resulted in a n overstatement of liabilities of $ 1.6 for the nine months ended March 31, 2022, an understatement of assets of $ 5.1 million for the three and nine months ended March 31, 2022 and an understatement in unrecognized gain on interest rate swap agreements of $ 6.7 million for the three and nine months ended March 31, 2022, net of income taxes. The following tables present the impact of the adjustments described above to our previously reported condensed consolidated balance sheets for the nine months ended March 31, 2022, and the related condensed consolidated statements of operations, condensed consolidated statements of stockholders’ equity and condensed consolidated cash flows for the three and nine months ended March 31, 2022. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands, except share amounts) March 31, 2022 As Previously Reported Adjustments As Restated Assets Current assets: Cash $ 69,109 $ 69,109 Restricted cash 6,600 6,600 Accounts receivable, net 39,649 39,649 Other receivables 13,668 13,668 Inventories 221,264 221,264 Interest rate swap assets - 716 716 Prepaid expenses and other current assets 10,968 10,968 Total current assets 361,258 716 361,974 Property, plant, and equipment, net 234,141 234,141 Goodwill 158,185 158,185 Intangible assets, net 64,809 64,809 Interest rate swap assets, long-term - 4,417 4,417 Other assets 7,635 7,635 Total assets $ 826,028 $ 5,133 831,161 Liabilities, redeemable noncontrolling interest, and stockholders' equity - Current liabilities: - Line of credit $ 146,732 146,732 Accounts payable 14,777 14,777 Accrued liabilities and other payables 30,460 2,678 33,138 Interest rate swap liabilities - 977 977 Current maturities of long-term debt 21,200 21,200 Total current liabilities 213,169 3,655 216,824 Other long-term liabilities 8,740 8,740 Long-term debt, less current maturities 172,324 172,324 Interest rate swap liabilities, noncurrent 5,225 ( 5,225 ) - Deferred tax liability 29,965 29,965 Deferred gain 10,999 10,999 Total liabilities 440,422 ( 1,570 ) 438,852 Commitments and contingencies (Note 13) - Redeemable noncontrolling interest 1,684 1,684 Stockholders' equity: - Preferred stock, no par value, 2,000,000 shares authorized, and none issued and outstanding at March 31, 2022 and June 30, 2021. - - Common stock, no par value, 200,000,000 shares authorized, 61,691,054 issued and 61,377,515 outstanding at March 31, 2022 and 60,461,611 issued and outstanding at June 30, 2021. - - Additional paid-in capital 373,196 373,196 Treasury stock, at cost: 313,539 and zero shares held at March 31, 2022 and June 30, 2021, respectively ( 2,833 ) ( 2,833 ) Retained earnings 14,176 6,704 20,880 Total Vintage Wine Estates, Inc. stockholders' equity 384,539 6,704 391,243 Noncontrolling interests ( 617 ) ( 1 ) ( 618 ) Total stockholders' equity 383,922 6,703 390,625 Total liabilities, redeemable noncontrolling interest, and stockholders' equity $ 826,028 $ 5,133 $ 831,161 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) (in thousands, except share and per share amounts) Three Months Ended March 31, Nine Months Ended March 31, 2022 2022 As Previously Reported Adjustments As Restated As Previously Reported Adjustments As Restated Net revenues Wine, spirits and cider $ 50,859 $ 50,859 $ 157,292 $ 157,292 Nonwine 28,074 28,074 60,939 60,939 78,933 78,933 218,231 218,231 Cost of revenues Wine, spirits and cider 38,764 38,764 98,428 98,428 Nonwine 12,152 12,152 29,886 29,886 50,916 50,916 128,314 128,314 Gross profit 28,017 28,017 89,917 89,917 Selling, general, and administrative expenses 27,035 27,035 70,662 70,662 Loss (gain) on sale of property, plant, and equipment 98 98 ( 493 ) ( 493 ) Gain on litigation proceeds - - - - Income from operations 884 884 19,748 19,748 Other income (expense) Interest expense ( 3,729 ) ( 3,729 ) ( 10,825 ) ( 10,825 ) Net unrealized gain on interest rate swap agreements 4,553 9,288 13,841 8,582 9,288 17,870 Other, net 1,957 1,957 1,945 1,945 Total other income (expense), net 2,781 9,288 12,069 ( 298 ) 9,288 8,990 Income before provision for income taxes 3,665 9,288 12,953 19,450 9,288 28,738 Income tax provision 958 2,585 3,543 5,412 2,585 7,997 Net income 2,707 6,703 9,410 14,038 6,703 20,741 Net income (loss) attributable to the noncontrolling interests ( 73 ) ( 1 ) ( 74 ) ( 138 ) ( 1 ) ( 139 ) Net income attributable to Vintage Wine Estates, Inc. 2,780 6,704 9,484 14,176 6,704 20,880 Accretion on redeemable Series B stock - - - - Net income (loss) allocable to common stockholders $ 2,780 $ 6,704 $ 9,484 $ 14,176 $ 6,704 $ 20,880 Net earnings (loss) per share allocable to common stockholders Basic $ 0.05 $ 0.10 $ 0.15 $ 0.23 $ 0.11 $ 0.34 Diluted $ 0.05 $ 0.10 $ 0.15 $ 0.23 $ 0.11 $ 0.34 Weighted average shares used in the calculation of earnings per share allocable to common stockholders Basic 61,410,403 61,410,403 60,773,258 60,773,258 Diluted 61,410,403 61,410,403 60,773,258 60,773,258 CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Unaudited) (in thousands, except share amounts) Redeemable Non-Controlling Common Stock Treasury Stock Additional Retained Non-Controlling Total Stockholders' Equity Shares Amount Shares Amount Balance, June 30, 2021 $ 1,682 60,461,611 $ - $ 360,732 $ - $ ( 477 ) $ 360,255 Net income (loss) 3 - - - 2,804 ( 28 ) 2,776 Balance, September 30, 2021 $ 1,685 60,461,611 $ - $ 360,732 $ 2,804 $ ( 505 ) $ 363,031 Net income (loss) 5 - - - 8,592 ( 45 ) 8,547 Balance, December 31, 2021 $ 1,690 60,461,611 $ - $ 360,732 $ 11,396 $ ( 550 ) $ 371,578 Stock-based compensation - - 1,943 - - 1,943 Issuance of common stock in business combination 1,229,443 - - - 10,521 - - 10,521 Repurchase of common stock - - 313,539 ( 2,833 ) - - - ( 2,833 ) Net income (loss) ( 6 ) - - - - - 2,780 ( 68 ) 2,712 Adjustments 6,704 6,704 Balance, March 31, 2022, As Restated $ 1,684 61,691,054 $ - 313,539 $ ( 2,833 ) $ 373,196 $ 20,880 $ ( 618 ) $ 390,625 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (in thousands) Nine Months Ended March 31, 2022 As Previously Reported Adjustments As Restated Cash flows from operating activities Net income $ 14,038 6,703 $ 20,741 Adjustments to reconcile net income to net cash from operating activities: Depreciation and amortization 17,365 17,365 Amortization of deferred loan fees and line of credit fees 296 296 Amortization of label design fees 668 668 Litigation proceeds - - Stock-based compensation expense 1,943 1,943 Provision for doubtful accounts 45 45 Impairment of inventory - - Net unrealized gain on interest rate swap agreements ( 8,582 ) ( 9,288 ) ( 17,870 ) (Benefit) provision for deferred income tax 888 888 Loss (gain) on disposition of assets 508 508 Deferred gain on sale leaseback ( 1,000 ) ( 1,000 ) Deferred rent 285 285 Change in operating assets and liabilities (net of effect of business combinations): Accounts receivable ( 21,261 ) ( 21,261 ) Related party receivables - - Other receivables 376 376 Litigation receivable - - Inventories 4,244 4,244 Prepaid expenses and other current assets ( 2,232 ) ( 2,232 ) Other assets ( 6,215 ) ( 6,215 ) Accounts payable ( 8,106 ) ( 8,106 ) Accrued liabilities and other payables 2,836 2,585 5,421 Related party liabilities - - Net cash (used in) provided by operating activities ( 3,903 ) - ( 3,903 ) Cash flows from investing activities - - Proceeds from disposition of assets 105 105 Purchases of property, plant, and equipment ( 15,723 ) ( 15,723 ) Label design expenditures ( 225 ) ( 225 ) Proceeds on related party notes receivable - - Acquisition of businesses ( 74,268 ) ( 74,268 ) Net cash used in investing activities ( 90,111 ) ( 90,111 ) Cash flows from financing activities - - Repurchase of common stock ( 2,833 ) ( 2,833 ) Principal payments on line of credit ( 67,210 ) ( 67,210 ) Proceeds from line of credit 126,591 126,591 Outstanding checks in excess of cash 2,900 2,900 Principal payments on long-term debt ( 13,178 ) ( 13,178 ) Proceeds from long-term debt - - Principal payments on related party note - - Deferred offering costs - - Payments on acquisition payable ( 226 ) ( 226 ) Net cash provided by financing activities 46,044 46,044 Net change in cash and restricted cash ( 47,970 ) ( 47,970 ) Cash and restricted cash , beginning of period 123,679 123,679 Cash and restricted cash, end of period $ 75,709 $ 75,709 Supplemental cash flow information Cash paid during the period for: Interest $ 9,508 $ 9,415 Income taxes $ 22 $ 22 Noncash investing and financing activities: - $ - Contingent consideration in a business combination $ 8,460 $ 8,460 Issuance of common stock in business combination $ 10,521 $ 10,521 Accretion of redemption value of Series B redeemable cumulative stock $ - $ - Accretion of redemption value of Series A redeemable stock $ - $ - Offering costs $ - $ -

Merger and Reverse Recapitaliza

Merger and Reverse Recapitalization	9 Months Ended
	Mar. 31, 2022
Merger and Reverse Recapitalization [Abstract]
Merger and Reverse Capitalization	3. Merg er and Reverse Recapitalization On June 7, 2021, Legacy VWE and BCAC consummated the Merger, with Legacy VWE surviving the Merger as a wholly owned subsidiary of BCAC, which was renamed Vintage Wine Estates, Inc. Immediately prior to the closing of the Merger, the Company purchased 2,889,507 shares of Series B stock from TGAM Agribusiness Fund Holdings LP for $ 32.0 million, including unpaid cumulative dividends and all remaining shares of outstanding Series B stock of Legacy VWE were converted into shares of Legacy VWE Series A common stock. Upon the consummation of the Merger, each share of Legacy VWE Series A and Series B common stock issued and outstanding was canceled and converted into the right to receive 2.85708834472042 shares (the “Exchange Ratio”) of common stock of the Company. For periods prior to the Merger, the reported share and per share amounts have been retroactively converted (“Retroactive Conversion”) by applying the Exchange Ratio. VWE Legacy shareholders were issued 26,828,256 shares of the Company’s common stock of which 1,000,002 shares were placed in escrow to cover potential adjustments to the purchase price. To satisfy the requirements of full repayment of the Company’s Paycheck Protection Program loan (the “PPP Loan”) upon a change of control, we placed into escrow $ 6.6 million in advance of the pending merger and reverse recapitalization. Funds held in escrow were released back to the Company upon receiving notification of the full forgiveness of the PPP loan prior to June 30, 2021. In September 2021, upon finalization of the purchase price, all 1,000,002 shares of the shares in escrow were released to the VWE Legacy shareholders. Upon the closing of the Merger, the Company's certificate of incorporation authorized 200,000,000 shares of common stock, no par value per share and 2,000,000 shares of preferred stock, no par value per share. As of June 7, 2021 (the "Closing Date"), there were 60,461,611 shares of the Company’s common stock issued and outstanding and warrants to purchase 26,000,000 shares of the Company’s common stock outstanding. There was no preferred stock outstanding as the Closing Date. In connection with the Merger, BCAC entered into subscription agreements (each, a “Subscription Agreement”) with two investors (each a “Subscriber”), pursuant to which the Subscribers agreed to purchase, and BCAC agreed to sell to the Subscribers, an aggregate of 10,000,000 shares of common stock (the “PIPE Shares”), for a purchase price of $ 10 per share and an aggregate purchase price of $ 100.0 million, in a private placement pursuant to the subscription agreements (the “PIPE”). The PIPE investment closed just prior to the consummation of the Merger. The Merger is accounted for as a reverse recapitalization in accordance with GAAP. Under this method of accounting, BCAC was treated as the “acquired” company and Legacy VWE was treated as the acquirer company for financial reporting purposes. Accordingly, for accounting purposes, the Merger was treated as the equivalent of Legacy VWE issuing stock for the net assets of BCAC, accompanied by a recapitalization. The net assets of BCAC are stated at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Merger are those of Legacy VWE. Earnout Shares The VWE Legacy shareholders are entitled to receive up to an additional 5,726,864 shares of the Company’s common stock (the “Earnout Shares”) if at any point during the Earnout Period, from June 7, 2021 to June 7, 2023, the Company's closing share price on the Nasdaq on 20 trading days out of 30 consecutive trading days: a) is at or above $15 (but below $20), 50% of the Earnout Shares will be issued; and b) is at or above $20 (i) to the extent no Earnout Shares have previously been issued, 100% of the Earnout Shares or (ii) to the extent the event Earnout Shares were previously issued, 50% of the Earnout Shares will be issued. The Earnout Shares will be adjusted to reflect any stock split, reverse stock split, stock dividend (including any dividend or distribution of securities convertible common shares), reorganization, recapitalization, reclassification, combination and, exchange of shares or other like change. The Earnout Shares are indexed to the Company’s equity and meet the criteria for equity classification. The fair value of the Earnout Shares, $ 32.4 million, was recorded as a dividend to additional paid in capital due to the absence of retained earnings. No Earnout Shares were issued as of March 31, 2022.

Acquisitions

Acquisitions	9 Months Ended
	Mar. 31, 2022
Business Combinations [Abstract]
Acquisitions	4. Acq uisitions Vinesse On October 4, 2021, the Company acquired 100 % of the members' interest in Vinesse, LLC, a California limited liability company ("Vinesse"). Vinesse is a direct-to-consumer platform company that specializes in wine clubs with over 60,000 members. Founded in 1993, Vinesse has developed a long-time following by offering boutique wines to a broader audience and making wine accessible and easy to love. The operations of Vinesse align with those of the Company, which management believes provides for expanded synergies and growth through the acquisition. The purchase price totaling $ 17.0 million was comprised of cash of $ 14.0 million, consulting fees of $ 0.2 million per year for three years totaling $ 0.6 million and a three-year earnout payable of up to $ 2.4 million. To fund the cash portion of the purchase consideration, we utilized the line of credit under the amended and restated loan and security agreement. The preliminary allocation of the consideration for the net assets acquired from the acquisition of Vinesse were as follows: (in thousands) Sources of financing Cash $ 14,000 Accrued other 600 Contingent consideration 2,400 Fair value of consideration 17,000 Assets acquired: Fixed assets 121 Inventory 2,502 Trade Names and Trademarks 1,200 Customer relationships 3,700 Deferred tax liability ( 1,323 ) Total identifiable assets acquired 6,200 Goodwill $ 10,800 The Company used the carrying value as of the acquisition date to value fixed assets, as we determined that they represented the fair value at the acquisition date. Inventory was comprised of finished goods, bulk and raw materials. The fair value of finished goods inventory and bulk inventory was derived using projected cost of goods sold as a percentage of net revenues. Raw materials inventory was valued at its book value. The trade names and trademarks fair value was derived using the Relief-From-Royalty Method (“RFR”). Key assumptions in valuing trade names and trademarks included (i) a royalty rate of 1.8 % and (ii) discount rate of 17.5 %. Customer relationships fair value was derived using the Multiple-Period Excess Earnings Method (“MPEEM”), utilizing a discount rate of 18.0 %, and Cost Approach. Customer relationships were weighted; 50.0% using the MPEEM model and 50.0% using the Cost Approach. Transaction costs incurred in the acquisition were insignificant. ACE Cider On November 16, 2021 , the Company acquired 100% of the capital stock of ACE Cider, the California Cider Company, Inc., a California corporation ("ACE Cider"). ACE Cider is a wholesale platform and specializes in hard cider, an alcoholic beverage fermented from apples. The operations of ACE Cider allow the Company to enter into the beer distribution category. The purchase price totaling $ 47.4 million was comprised of a cash payment and contingent consideration. The preliminary allocation of the consideration for the net assets acquired from the acquisition of ACE Cider were as follows: (in thousands) Sources of financing Cash $ 46,880 Accrued other 60 Contingent consideration 500 Fair value of consideration 47,440 Assets acquired: Fixed assets 4,205 Inventory 1,350 Trademarks 6,600 Customer relationships 14,300 Deferred tax liability ( 6,531 ) Total identifiable assets acquired 19,924 Goodwill $ 27,516 The Company used the carrying value as of the Acquisition Date to value fixed assets, as we determined that they represented the fair value at the Acquisition Date. Inventory was comprised of finished goods, bulk cider and raw materials. The fair value of finished goods inventory and bulk cider inventory was derived using projected cost of goods sold as a percentage of net revenues. Raw materials inventory was valued at its book value. The trademarks fair value was derived using the RFR. Key assumptions in valuing trademarks included (i) a royalty rate of 3.0 % and (ii) discount rate of 13.0 %. Customer relationships fair value was derived using the MPEEM, utilizing a discount rate of 13.5 %, and Cost Approach. Customer relationships were weighted; 90.0% using the MPEEM model and 10.0% using the Cost Approach. Transaction costs incurred in the acquisition were insignificant. Meier's On January 18, 2022 , the Company acquired 100 % of the capital stock in Meier's Wine Cellars, Inc., DBA Meier's Beverage Group, an Ohio company ("Meier's"). Meier's is a wholesale and business-to-business company that specializes in custom blending, contract storage, contract manufacturing, and private labeling for wine, beer, and spirits. Over the years, Meier's continued extending their winemaking skills by producing table wines, sparkling wines, dessert wines, vermouths and carbonated grape juice. The purchase price totaling $ 25.0 million was comprised of cash of $ 12.5 million and 1,229,443 shares of common stock with a value of $ 12.5 million. The terms of the acquisition also provide for the possibility of additional contingent consideration of up to $ 10.0 million based on Meier's exceeding current EBITDA levels over each of the next three years. The preliminary allocation of the consideration for the net assets acquired from the acquisition of Meier's were as follows: (in thousands) Sources of financing Cash $ 12,500 Shares of common stock 10,521 Contingent consideration 4,900 Settlement of pre-existing relationship ( 125 ) Fair value of consideration 27,796 Assets acquired: Accounts receivable 3,669 Fixed assets 11,358 Inventory 4,280 Other assets 356 Trademarks 600 Customer relationships 5,600 Accounts payable and accrued expenses ( 2,682 ) Deferred tax liability ( 5,359 ) Total identifiable assets acquired 17,822 Goodwill $ 9,974 The number of shares of common stock were valued based on the Closing Date share price, resulting in a fair value of $ 12.0 million, less a discount of $ 1.5 million due to lack of marketability for shares of common stock, resulting in the shares of common stock valued at $ 10.5 million. The contingent consideration was fair valued using the Monte Carlo simulation model, resulting in fair value earnout payments of $ 4.9 million. The Company valued the fair value of accounts receivable, other assets, accounts payable and accrued expenses and fixed assets at the acquisition date. Inventory was comprised of finished goods, work in process and raw materials. The fair value of finished goods inventory and work in process inventory was derived using projected cost of goods sold as a percentage of net revenues. Raw materials inventory was valued at its book value. The trade names and trademarks fair value was derived using the RFR. Key assumptions in valuing trade names and trademarks included (i) a royalty rate of 1.1 % and (ii) discount rate of 26.0 %. Customer relationships fair value was derived using the MPEEM, utilizing a discount rate of 27.0 %. Customer relationships were weighted 100.0% using the MPEEM model. Transaction costs incurred in the acquisition were insignificant. The allocations of the fair value of the acquired businesses were based on preliminary valuations of the estimated net fair value of the assets acquired. The fair value estimates are subject to adjustment during the measurement period (up to one year from the acquisition date). The primary areas of accounting for the acquisitions that are not yet finalized relate to the fair value of certain intangible assets acquired and residual goodwill. Goodwill created in the acquisitions were structured as stock sales and therefore, is non tax deductible and non amortizable. The fair values of the net assets acquired are based on management’s estimates and assumptions, as well as other information compiled by management, including valuations that utilize customary valuation procedures and techniques. While we believe that such preliminary estimates provide a reasonable basis for estimating the fair value of assets acquired, we will evaluate any necessary information prior to finalization of the fair value. During the measurement period, we will adjust preliminary valuations assigned to assets and liabilities if new information is obtained about facts and circumstances that existed as of the acquisition date, if any, that, if known, would have resulted in revised values for these items as of that date. The net working capital adjustments related to the acquisitions are estimated as of the closing date and will be adjusted based on that estimate. Net working capital adjustments of $ 5.3 million are recorded in other assets on the condensed consolidated balance sheet. The impact of all changes, if any, that do not qualify as measurement period adjustments will be included in current period earnings. Pro-forma Consolidated Financial Information (Unaudited) The results of operations for the acquisitions and the estimated fair values of the assets acquired have been included in the Company’s consolidated financial statements since its respective date of acquisition. For the period ended March 31, 2022, and since the date of its acquisition, the acquisitions contributed approximately $ 18.4 million to the Company’s revenues and increased net income by approximately $ 0.7 million. The unaudited pro forma financial information in the table below summarizes the combined results of the Company’s operations and those of Vinesse, ACE Cider and Meier's for the periods shown as if the acquisitions had occurred on July 1, 2020. The pro forma financial information includes the business combination accounting effects of the acquisitions, including amortization charges from acquired intangible assets. The pro forma financial information presented below is for informational purposes only, and is subject to a number of estimates, assumptions and other uncertainties. Three Months Ended Nine Months Ended (in thousands) 2022 2021 2022 2021 Total pro forma revenues $ 78,933 $ 59,057 $ 241,381 $ 204,102 Pro forma net income (loss) $ 9,410 $ 2,303 $ 21,619 $ 21,174 Other Acquisitions On February 14, 2022, the Company purchased certain intellectual property pertaining or related to a canned cannabis beverage brand. The Company purchased the intellectual property at a purchase price of $ 0.3 million. The value of the assets acquired were based on the estimated fair value and are subject to adjustment during the measurement period (up to one year from the acquisition date). An executive officer of the Company has a related party relationship and serves as a member of the board of directors.

Inventory

Inventory	9 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventory	5. Inve ntory Inventory consists of the following: (in thousands) March 31, 2022 June 30, 2021 Bulk wine, spirits and cider $ 109,408 $ 119,333 Bottled wine, spirits and cider 89,808 90,083 Bottling and packaging supplies 20,526 10,482 Nonwine inventory 1,522 1,247 Total inventories $ 221,264 $ 221,145 For the three months ended March 31, 2022 and 2021, respectively, the Company recognized no impairment of inventory. For the nine months ended March 31, 2022 and 2021, respectively, the Company recognized impairment of inventory of zero and $ 3.3 million.

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	6. Property, Pla nt and Equipment Property, plant and equipment consists of the following: (in thousands) March 31, 2022 June 30, 2021 Buildings and improvements $ 140,241 $ 129,288 Land 36,215 33,734 Machinery and equipment 74,677 58,227 Cooperage 11,804 10,551 Vineyards 21,174 21,364 Furniture and fixtures 1,581 1,343 285,692 254,507 Less accumulated depreciation and amortization ( 64,591 ) ( 52,791 ) 221,101 201,716 Construction in progress 13,040 11,957 $ 234,141 $ 213,673 Depreciation and amortization expense related to property and equipment wa s $ 6.0 million and $ 2.7 million for the three months ended March 31, 2022 and 2021, respectively and $ 14.1 millio n and $ 8.1 millio n for the nine months ended March 31, 2022 and 2021, respectively.

Goodwill and Intangibles Assets

Goodwill and Intangibles Assets	9 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangibles Assets	7. Goodwill and Intan gible Assets Goodwill The following table summarizes the changes in the carrying amount of goodwill by segment: (in thousands) Wholesale Direct-to-Consumer Business-to-Business Total Balance at June 30, 2021 $ 88,808 $ 20,342 $ 745 $ 109,895 Goodwill acquired in Vinesse business combination $ 10,800 $ 10,800 Goodwill acquired in ACE Cider business acquisition 27,516 - 27,516 Goodwill acquired in Meier's business acquisition 9,974 9,974 Balance at March 31, 2022 $ 116,324 $ 31,142 $ 10,719 $ 158,185 Intangible Assets The following tables summarize other intangible assets by class: March 31, 2022 (in thousands) Gross Accumulated Net Intangible Weighted Average Remaining Amortization Period (in years) Indefinite-life intangibles Trade names and trademarks $ 29,829 $ - $ 29,829 N/A Winery use permits 6,750 - 6,750 N/A Total Indefinite-life intangibles 36,579 - 36,579 Definite-life intangibles Customer and Sommelier relationships 29,900 ( 3,320 ) 26,580 4.7 Trade names and trademarks 1,800 ( 150 ) 1,650 3.8 Total definite-life intangibles 31,700 ( 3,470 ) 28,230 Total other intangible assets $ 68,279 $ ( 3,470 ) $ 64,809 June 30, 2021 (in thousands) Gross Accumulated Net Intangible Weighted Average Remaining Amortization Period (in years) Indefinite-life intangibles Trade names and trademarks $ 23,229 $ - $ 23,229 N/A Winery use permits 6,750 - 6,750 N/A Total Indefinite-life intangibles 29,979 - 29,979 Definite-life intangibles Customer and Sommelier relationships 6,300 ( 200 ) 6,100 4.7 Total definite-life intangibles 6,300 ( 200 ) 6,100 Total other intangible assets $ 36,279 $ ( 200 ) $ 36,079 Amortization expense of definite-life intangibles w as $ 1.7 million and $ 25.0 thousand for the three months ended March 31, 2022 and 2021, respectively and $ 3.3 million and $ 75.0 thousand for the nine months ended March 31, 2022 and 2021, respectively. As of March 31, 2022, estimated future amortization expense for definite-lived assets is as follows: 2022 remaining $ 1,659 2023 6,637 2024 6,626 2025 5,106 Thereafter 8,202 Total estimated amortization expense $ 28,230

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Accrued Liabilities	8. Accrue d Liabilities The major classes of accrued liabilities are summarized as follows: March 31, 2022 June 30, 2021 (in thousands) As Restated Accrued purchases $ 11,616 $ 10,790 Accrued employee compensation 3,921 3,981 Other accrued expenses 9,857 6,754 Accrued interest expense 1,225 202 Contingent consideration 4,471 2,151 Unearned Income 418 1,200 Captive insurance liabilities 1,630 - Total Accrued liabilities and other payables $ 33,138 $ 25,078

Long-Term and Other Short-Term

Long-Term and Other Short-Term Borrowings	9 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-Term and Other Short-Term Borrowings	9. Long-Term a nd Other Short-Term Obligations The following table summarizes long-term and other short-term obligations: (in thousands) March 31, 2022 June 30, 2021 Note to a bank with interest at LIBOR ( 1.76 %) at Mach 31, 2022 plus 1.75 %; payable in quarterly installments of $ 1,180 principal with applicable interest; matures in September 2026 ; secured by specific assets of the Company. Loan amended April 2021. Quarterly payments of $ 1,066 reduced from $1,180 starting June 2021. Revised maturity date July 2026. 77,858 81,055 Capital expenditures borrowings payable at LIBOR plus 1.75 %, payable in quarterly installments of $ 1,077 , rolled into capital expenditures payable at Alternate Base Rate (ABR) ( 3.25 % at June 30, 2021) plus 0.75 %. At July 26,2021 Bank of the West converted capital expenditures payable back to Libor ( 0.50 %) plus 1.75 % to align with Company Swaps with draw expiring July, 2026. 41,853 45,084 Note to a bank with interest fixed at 3.6 %, payable in monthly installments of $ 60 principal with applicable interest; matures in April 2023 . 768 1,227 Note to a bank with interest fixed at 2.75 %, payable in monthly installments of $ 61 principal with March 2024 . 1,419 1,876 Delayed Draw Term Loan ("DDTL") with interest at LIBOR ( 2.32 %) at March 2022 plus 1.75 %, payable in quarterly installments of $ 1,260 . Matures in July 2024 . 67,142 29,250 DDTL with ABR ( 4.00 % at December 2021). Matures in July 2024. Interest only through draw period. Repaid in fiscal 2022. - 37,892 Short term unsecured promissory note; principal and interest payable upon maturity with interest at the prime rate plus 1.00 %; matured and paid April 2022. 2,917 2,917 Short term unsecured promissory note; principal and interest payable upon maturity with interest at the prime rate plus 1.00 %; matured and paid April 2022. 2,917 2,917 Short term unsecured promissory note; principal and interest payable upon maturity with interest at 1.06 %; matured December 31, 2021 and paid January 3, 2022. - 5,834 194,874 208,052 Less current maturities ( 21,200 ) ( 22,964 ) Less unamortized deferred financing costs ( 1,350 ) ( 1,547 ) $ 172,324 $ 183,541 Maturities of Long-Term and Other Short-Term Borrowings As of March 31, 2022, maturities of long-term and other short-term borrowings for succeeding years are as follows: (in thousands) Remaining 2022 $ 9,585 2023 14,909 2024 14,152 2025 64,372 2026 8,571 2027 83,285 $ 194,874 Line of Credit In April 2021, we entered into an amended and restated loan and security agreement to increase the credit facility from an aggregate $ 350.0 million to $ 480.0 million consisting of an accounts receivable and inventory revolving facility up to $ 230.0 million, a term loan in a principal amount of up to $ 100.0 million, a capital expenditures facility in an aggregate principal of up to $ 50.0 million, and a delay draw term loan facility up to an aggregate of $ 100.0 million which was limited to an aggregate of $ 50.0 million. The effective interest rate under the revolving facility w as 3.1 % and 2.7 % as of March 31, 2022 and 2021, respectively. The Company had $ 77.1 million and $ 125.0 million available under the line of credit as of March 31, 2022 and June 30, 2021, respectively. Amortization of deferred loan costs related to the line of credit was $ 33.0 thousand and $ 111.8 thousand for the three months ended March 31, 2022 and 2021, respectively and $ 99.0 thousand and $ 335.7 thousand for the nine months ended March 31, 2022 and 2021, respectively. The Company was in compliance with its line of credit covenants as of March 31, 2022.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	10. Fair Value M easurements (restated) The following tables present assets and liabilities measured at fair value on a recurring basis: March 31, 2022, As Restated (in thousands) Level 1 Level 2 Level 3 Total Assets: Money market funds $ 51,576 $ - $ - $ 51,576 Interest rate swaps (2) 5,133 5,133 Total $ 51,576 $ 5,133 $ - $ 56,709 Liabilities: Contingent consideration liabilities (1) $ - $ - $ 12,205 $ 12,205 Interest rate swaps (2) 977 977 Total $ - $ 977 $ 12,205 $ 13,182 June 30, 2021 (in thousands) Level 1 Level 2 Level 3 Total Assets: Money market funds $ 6,525 $ - $ - $ 6,525 Total $ 6,525 $ - $ - $ 6,525 Liabilities: Contingent consideration liabilities (1) $ - $ - $ 4,631 $ 4,631 Interest rate swaps (2) - 13,807 - 13,807 Total $ - $ 13,807 $ 4,631 $ 18,438 (1) We assess the fair value of contingent consideration to be settled in cash related to acquisitions using probability weighted models for the various contractual earn-outs. These are Level 3 measurements. Significant unobservable inputs used in the estimated fair values of these contingent consideration liabilities include probabilities of achieving customer related performance targets, specified sales milestones, consulting milestones, changes in unresolved claims, projected revenue or changes in discount rates. (2) The fair value of interest rate swaps is estimated using a discounted cash flow analysis that considers the expected future cash flows of each interest rate swap. This analysis reflects the contractual terms of the interest rate swap, including the remaining period to maturity, and uses market-corroborated Level 2 inputs, including forward interest rate curves and implied interest rate volatilities. The fair value of an interest rate swap is estimated by discounting future fixed cash payments against the discounted expected variable cash receipts. The variable cash receipts are estimated based on an expectation of future interest rates derived from forward interest rate curves. The fair value of an interest rate swap also incorporates credit valuation adjustments to reflect the non-performance risk of the Company and the respective counterparty. The following table provides a reconciliation of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3): (in thousands) Contingent Balance at June 30, 2021 $ 4,631 Acquisitions 7,800 Payments ( 226 ) Balance at March 31, 2022 12,205 Less: current portion ( 4,471 ) Long term portion $ 7,734 The current and long-term portion of contingent consideration is included within the accrued liabilities and other payables and other long-term liabilities, respectively, in the condensed consolidated balance sheets.

Redeemable Stock and Redeemable

Redeemable Stock and Redeemable Noncontrolling Interest	9 Months Ended
	Mar. 31, 2022
Noncontrolling Interest [Abstract]
Redeemable Series A and Series B Stock and Non-Controlling Interest	11. Redeemable Sto ck and Red eemable Noncontrolling Interest Series A Redeemable Stock The Company did not have Series A Redeemable stock for the three months ended and nine months ended March 31, 2022. January 2018 Tamarack Cellars Series A Redeemable Stock The amount accreted as deemed dividends for the Series A shares were $ 1.2 million for the three and nine months ended March 31, 2021. April 2018 Series A Redeemable Stock The amounts accreted as deemed dividends for the Series A shares were $ 3.9 million and $ 2.0 million for the three and nine months ended March 31, 2021, respectively. July 2018 Issuance of Series A Redeemable Stock The amounts accreted as deemed dividends for the Series A shares were $ 3.3 million for the three and nine months ended March 31, 2021. Series B Redeemable Stock The Company did not have Series B Redeemable stock for the three months ended and nine months ended March 31, 2022. April 2018 Series B Redeemable Cumulative Series Stock The amounts accreted as deemed dividends for the Series B stock were $ 1.4 million and $ 4.8 million for the three and nine months ended March 31, 2021, respectively. The redemption amount of the Series B redeemable stock was $ 47.5 million at March 31, 2021. Total unpaid cumulative dividends on the Series B redeemable stock as of March 31, 2021 approximated $ 5.0 million.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Stockholders' Equity	12. Stockhold ers' Equity Common Stock We had reserved shares of stock, on an as-if converted basis, for issuance as follows: March 31, 2022 June 30, 2021 Warrants 26,000,000 26,000,000 Earnout shares 5,726,864 5,726,864 Total 31,726,864 31,726,864 2021 Stock Incentive Plan Effective June 7, 2021, the Company adopted the 2021 Omnibus Incentive Plan (as amended, “the 2021 Plan”). The 2021 Plan provides for the issuance of stock options, stock appreciation rights, performance shares, performance units, stock, restricted stock, restricted stock units and cash incentive awards. The 2021 Plan was approved by shareholders at the Annual Meeting of Shareholders on February 2, 2022. The following table provides total share-based compensation expense by award type: Three Months Ended Nine Months Ended (in thousands) March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 Stock option awards $ 828 $ - $ 828 $ - Restricted stock units 1,115 - 1,115 - Total share-based compensation $ 1,943 $ - $ 1,943 $ - Stock-based compensation expense is included as a component of selling, general and administrative expenses in the condensed consolidated statement of operations. Stock Options Stock options granted under the 2021 Plan are subject to market conditions. The stock options are exercisable for ten years and only become exercisable if the volume-weighted average price per share of our common stock is at least $ 12.50 over a 30-day consecutive trading period following the grant date. The fair value of the stock options was estimated using a Monte Carlo simulation valuation model. The following table presents a summary of stock option activity under the 2021 Plan: Stock Options Weighted-Average Exercise Price Aggregate Intrinsic Value Outstanding at June 30, 2021 - - - Granted 2,675,651 10.50 - Exercised - - - Canceled and forfeited ( 25,600 ) 10.50 - Outstanding at March 31, 2022 2,650,051 10.50 - Total unrecognized compensation expense related to the stock options was $ 7.1 million, which is expected to be recognized over a weighted-average period of 3.3 years. No stock options were vested and exercisable as of March 31, 2022. For the period ended March 31, 2022, the weighted-average grant date fair value was $ 3.27 . The fair value of the options was estimated at the grant date using the Monte Carlo Simulation model with the following assumptions: weighted average risk free rate 1.8 %; weighted average expected term 5.5 years; weighted average expected volatility 40 %; and no expected dividend yield. Restricted Stock Units Restricted stock units are subject only to service conditions and vest ratably over four years . The following table presents a summary of restricted stock units activity for the periods presented: Restricted Stock Units Weighted-Average Grant Date Fair Value Outstanding at June 30, 2021 - - Granted 1,398,526 8.22 Issued - - Canceled and forfeited - - Outstanding at March 31, 2022 1,398,526 8.22 Total unrecognized compensation expense related to the restricted stock units was $ 9.4 million, which is expected to be recognized over a weighted-average period of 3.3 years. No restricted stock units vested as of March 31, 2022. Stock and Warrant Repurchase Plan On March 8, 2022, the Company's board of directors approved a repurchase plan authorizing the Company to purchase up to $ 30.0 million in aggregate value of our common stock and/or warrants through September 8, 2022. Purchases under the repurchase program may be made on the open market, in privately negotiated transactions or in other manners as permitted by the federal securities laws and other legal and contractual requirements and are expected to comply with Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The timing and amount of any repurchases will depend on a number of factors, including price, trading volume, general market conditions and legal requirements, among others. The repurchase program does not require the Company to acquire a specific number of shares or warrants. The cost of the shares and warrants that are repurchased will be funded from available working capital. For accounting purposes, common stock repurchased under our stock repurchase plan is recorded based upon the settlement date of the applicable trade. Such repurchased shares are held in treasury and are presented using the cost method. During the three months ended March 31, 2022 the Company repurchased 313,539 shares of common stock that are held in treasury. These shares are considered issued but not outstanding. The total cost of the shares repurchased was $ 2.8 million. The table below summarizes the changes in treasury stock: Three Months Ended Nine Months Ended March 31, 2022 March 31, 2021 Treasury stock: Balance at December 31, 2021 - - Repurchases of common stock 313,539 313,539 Balance at March 31, 2022 313,539 313,539

Income Taxes

Income Taxes	9 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Inco me Taxes The increase in our effective tax rate for the nine months ended March 31, 2022 was primarily due to changes in permanent items, which primarily consist of the Research and Development ("R&D") Tax Credits, as compared to the nine months ended March 31, 2021. The decrease in our effective tax rate for the three months ended March 31, 2022 was primarily due to changes in pre-tax income and permanent items, which primarily consist of the Research and Development ("R&D") Tax Credits, as compared to the three months ended March 31, 2021. For the nine months and three months ended March 31, 2022, our effective tax rate differs from the federal statutory rate of 21 % primarily due to state taxes. For the nine months and three months ended March 31, 2021, our effective tax rate differs from the federal statutory rate of 21 % primarily due to permanent items, which primarily consist of the R&D Tax Credit. The provisional measurements of fair value for income taxes payable and deferred taxes for the acquisitions of Vinesse, ACE Cider, and Meier may be subject to change as additional information is received and certain tax returns are finalized. The Company expects to finalize the fair value measurements as soon as practicable, but not later than one year from the date of acquisition.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	14. Commitm ents and Contingencies We are subject to a variety of claims and lawsuits that arise from time to time in the ordinary course of business. Although management believes that any pending claims and lawsuits will not have a significant impact on the Company’s consolidated financial position or results of operations, the adjudication of such matters are subject to inherent uncertainties and management’s assessment may change depending on future events. Indemnification Agreements In the ordinary course of business, we may provide indemnification of varying scope and terms to vendors, lessors, customers and other parties with respect to certain matters including, but not limited to, losses arising out of breach of such agreements or from intellectual property infringement claims made by third parties. These indemnities include indemnities to our directors and officers to the maximum extent permitted under applicable state laws. The maximum potential amount of future payments we could be required to make under these indemnification agreements is, in many cases, unlimited. Historically, we have not incurred any significant costs as a result of such indemnifications and are not currently aware of any indemnification claims. Lease Agreements We have lease agreements for certain winery facilities vineyards, corporate and administrative offices, tasting rooms, and equipment under long-term non-cancelable operating leases. The lease agreements have initial terms of two to 15 years , with two leases having multiple five-year or 10-year renewal terms and other leases having no or up to five-year renewal terms. The lease agreements expire ranging from March 31, 2022 through November 2031 . Beginning fiscal 2022, we no longer have related party lease agreements. The minimum annual payments under our lease agreements are as follows: (in thousands) Total Remaining 2022 $ 1,978 2023 6,453 2024 6,551 2025 6,252 2026 5,834 2027 and thereafter 17,610 $ 44,678 Total rent expense, including amounts to related parties, was $ 2.9 million and $ 2.2 million for t he three months ended March 31, 2022 and 2021, respectively and $ 1.3 million and $ 5.7 million for t he nine months ended March 31, 2022 and 2021, respectively. Other Commitments Contracts exist with various growers and certain wineries to supply a significant portion of our future grape and wine requirements. Contract amounts are subject to change based upon actual vineyard yields, grape quality and changes in grape prices. Estimated future minimum grape and bulk wine purchase commitments are as follows: (in thousands) Total Remaining 2022 $ 21,015 2023 13,594 2024 6,301 2025 3,553 2026 353 $ 44,816 Grape and bulk wine purchases under contracts totaled $ 9.2 million and $ 11.5 million and $ 30.4 and $ 30.4 million for the three and nine months ended March 31, 2022 and 2021, respectively. The Company expects to fulfill all of these purchase commitments.

Segments

Segments	9 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segments	15. Seg ments Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”), or decision-making group, in deciding how to allocate resources and in assessing performance. When determining the reportable segments, the Company aggregated operating segments based on their similar economic and operating characteristics. Our operations are principally managed on a sales distribution basis and are comprised of three reportable segments: Wholesale; Direct-to-Consumer; and Business-to-Business. The factors for determining the reportable segments include the manner in which management evaluates performance for purposes for allocating resources and assessing performance. We report our segments as follows: Wholesale Segment —We sell our wine to wholesale distributors under purchase orders. Wholesale operations generate revenue from product sold to distributors, who then sell it to off-premise retail locations such as grocery stores, wine clubs, specialty and multi-national retail chains, as well as on-premise locations such as restaurants and bars. Direct-to-Consumer Segment — We sell our wine and other merchandise directly to consumers through wine club memberships, at wineries’ tasting rooms, at Sommelier wine tasting events, and through the Internet. Winery estates hold various public and private events for customers and our wine club members. The certified Sommeliers provide guided tasting experiences customized for each audience through virtual and in-person events globally. Business-to-Business Segment — Our Business-to-Business sales channel generates revenue primarily from the sale of private label wines and custom winemaking services. Annually, we work with our national retail partners to develop private label wines incremental to their wholesale channel businesses. Additionally, we provide custom winemaking services. Corporate and Other Segment — Our Corporate and Other segment generates revenues from grape and bulk sales and storage services. Other, non-allocable expenses include corporate expenses, non-direct selling expenses and other expenses not specific to an identified reporting segment. The following tables present net revenues and income from operations directly attributable to the Company's segments: Three Months Ended March 31, 2022 (in thousands) Wholesale Direct-to-Consumer Business-to-Business Corporate and Other Total Segment Results Net revenues $ 24,549 $ 19,595 $ 33,657 $ 1,132 $ 78,933 Income (loss) from operations $ 3,270 $ 916 $ 10,457 $ ( 13,759 ) $ 884 Three Months Ended March 31, 2021 (in thousands) Wholesale Direct-to-Consumer Business-to-Business Corporate and Other Total Segment Results Net revenues $ 21,092 $ 14,675 $ 11,026 $ 104 $ 46,897 Income (loss) from operations $ 6,138 $ 1,986 $ 3,391 $ ( 11,331 ) $ 184 Nine Months Ended March 31, 2022 (in thousands) Wholesale Direct-to-Consumer Business-to-Business Corporate and Other Total Segment Results Net revenues $ 62,923 $ 69,316 $ 83,349 $ 2,643 $ 218,231 Income (loss) from operations $ 12,654 $ 14,834 $ 26,274 $ ( 34,014 ) $ 19,748 Nine Months Ended March 31, 2021 (in thousands) Wholesale Direct-to-Consumer Business-to-Business Corporate and Other Total Segment Results Net revenues $ 55,399 $ 48,650 $ 57,704 $ 1,956 $ 163,709 Income (loss) from operations $ 14,760 $ 9,997 $ 18,052 $ ( 22,751 ) $ 20,058 There was no inter-segment activity for any of the given reporting periods presented. Excluding long-term property, plant and equipment for wine tasting facilities and customer relationships and Sommelier relationships allocated specifically to the Direct-to-Consumer reporting segment, revenue generating assets are utilized across segments therefore, the Company does not allocate assets to its reportable segments, as they are not included in the review performed by the CODM for purposes of assessing segment performance and allocating resources. Depreciation expense recognized for assets included in the Direct-to-Consumer reporting segment wa s $ 0.3 million and $ 0.4 million for the thr ee months ended March 31, 2022 and 2021, respectively and $ 0.8 million and $ 1.1 million for the nine months ended March 31, 2022 and 2021, respectively. Amortization expense included in the Direct-to-Consumer reporting seg ment was $ 0.6 million and $ 25.0 thousand for the three months ended March 31, 2022 and 2021 respectively and $ 2.0 million and $ 75.0 thousand for the nine months ended March 31, 2022 and 2021, respectively. All of the Company’s long-live d assets are located within the United States.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	16. Earning s Per Share (restated) The following table reconciles the number of common shares used to compute basic and diluted earnings per share attributable to Vintage Wine Estates, Inc., shareholders: Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 (in thousands, except for per share amounts) As Restated As Restated Net income $ 9,410 $ 626 $ 20,741 $ 15,263 Less: Series B dividends and accretion - 1,446 - 4,760 Less: (loss) income allocable to noncontrolling interest ( 74 ) 53 ( 139 ) 343 Net income (loss) allocable to common shareholders $ 9,484 $ ( 873 ) $ 20,880 $ 10,160 Numerator – Basic EPS Net income (loss) allocable to common shareholders $ 9,484 $ ( 873 ) $ 20,880 $ 10,160 Less: net income allocated to participating securities (Series B) - - - 1,752 Net income (loss) allocated to common shareholders $ 9,484 $ ( 873 ) $ 20,880 $ 8,408 Numerator – Diluted EPS Net income (loss) allocated to common shareholders $ 9,484 $ ( 873 ) $ 20,880 $ 8,408 Add: net income attributable to convertible debt - - - 147 Reallocation of income under the two-class method - - - 44 Net income (loss) allocated to common shareholders $ 9,484 $ ( 873 ) $ 20,880 $ 8,599 Denominator – Basic Common Shares Weighted average common shares outstanding - Basic 61,410 21,921 60,773 21,921 Denominator – Diluted Common Shares Effect of dilutive securities: Stock options - - - 406 Convertible debt - - - 2,237 Weighted average common shares - Diluted 61,410 21,921 60,773 24,564 Net income (loss) per share – basic: Common Shares $ 0.15 $ ( 0.04 ) $ 0.34 $ 0.38 Net income (loss) per share – diluted: Common Shares $ 0.15 $ ( 0.04 ) $ 0.34 $ 0.35 The following securities have been excluded from the calculations of diluted earnings per share attributable to common shareholders because including them would have been antidilutive: Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Shares subject to warrants to purchase common stock 26,000,000 - 26,000,000 - Shares subject to options to purchase common stock 2,650,051 816,868 2,650,051 277,700 Total 28,650,051 816,868 28,650,051 277,700

Related Party Transactions

Related Party Transactions	9 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions and Commitments	17. Related Party Transactions The Company did not have any related party receivables or related party liabilities as of March 31, 2022 and June 30, 2021. The components of related party revenues and expenses are as follows: Three Months Ended Nine Months Ended (in thousands) March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 Revenues: Warehousing and fulfillment services $ - $ 166 $ - $ 715 Storage and bottling of alcoholic beverages - 29 - 50 Management fees - 115 - 388 Marketing and distribution - 1,625 - 1,625 Expenses: Concourse Warehouse lease - - - 241 Swanson lease - 163 - 516 Z.R. Waverly lease - - - 66 Warehousing and Fulfillment Services — Revenues from related parties for warehousing and fulfillment services for the three months ended March 31, 2022 and 2021 were zero and $ 166.3 thousand, respectiv ely. Revenues from related parties for warehousing and fulfillment services for the nine months ended March 31, 2022 and 2021 were zero and $ 715.4 thousand, respectiv ely. We did no t have any accounts receivable from revenues with related parties for warehousing and fulfillment services at March 31, 2022 and June 30, 2021. Storage and Bottling of Alcoholic Beverages — We have entered into a number of transactions with a related party covering services related to the storage and bottling of alcoholic beverages. We made payments of zero and $ 28.9 thousand for the three months ended March 31, 2022 and 2021, respectively and payments of zero and $ 49.6 th ousand for the nine months ended March 31, 2022 and 2021, respectively, to the related party. Management Fees — Prior to July 1, 2021, w e provided management, billing and collection services to a related party under a management fee arrangement. For the three months ended March 31, 2022 and 2021, we charged this related party management fees of zero and $ 114.5 thousand, respectively, for these services. For the nine months ended March 31, 2022 and 2021, we charged this related party management fees of zero and $ 388.1 thousand, respectively, for these services. We did no t owe the related party for amounts collected on the related party's behalf at March 31, 2022 and June 30, 2021. Marketing and Distribution — On December 31, 2020, the Company entered into a marketing and distribution arrangement with a related party, Kunde. Under the agreement, the related party paid the Company a commission for certain distribution sales. The Company recognized zero and $ 1.6 million in revenue from the arrangement in the three and nine months ended March 31, 2021 and 2020, respectively. The Company is engaged in various operating lease arrangements with related parties. Concourse Warehouse Lease — We lease 15,000 square feet (“sq. ft.”) of office space and 80,000 sq. ft. of warehouse space. We account for this lease as an operating lease. We recognized rent expense paid to Concourse of zero for the three months ended March 31, 2021 and $ 241.3 thousand for the nine months ended March 31, 2021 related to this lease agreement. Prior to September 2020, the facility was owned by and leased from Concourse LLC, a related party real estate leasing entity that was wholly owned by a shareholder. We have no ownership in Concourse. In September 2020, an independent party purchased the facility from Concourse, LLC and assumed the lease. Swanson Lease — We leased a property with production space and a tasting room under an operating lease with an entity that is wholly owned by a shareholder. We recognized rent expense of approximately $ 163.6 thousand for the three months ended March 31, 2021 and $ 516.6 thousand for the nine months ended March 31, 2021, related to this lease agreement. Z.R. Waverly Lease — We leased tasting room space under an operating lease with an entity that is wholly owned by a shareholder. We recognized rent expense of zero for the three months ended March 31, 2021 and $ 65.8 thousand for the nine months ended March 31, 2021, related to this lease agreement. In December 2020, we purchased the Z.R. Waverly leased facility in California from the shareholder for $ 1.5 million. Immediate Family Member and Other Business Arrangements — We provide at will employment to several family members of officers or directors who provide various sales, marketing and administrative services to us. Payroll and other expenses to these related parties was approximately $ 90.1 thousand and $ 69.1 thousand for the three months ended March 31, 2022 and 2021, respectively and $ 286.5 thousand and $ 249.9 thousand for the nine months ended March 31, 2022 and 2021, respectively. We pay for sponsorship and marketing services and point of sale marketing materials to unincorporated businesses that are managed by immediate family members of a Company executive officer. For the three months ended March 31, 2022 and 2021, payments related to sponsorship and marketing services totaled $ 87.0 thousand and $ 87.5 thousand, respectively. For the nine months ended March 31, 2022 and 2021, payments related to sponsorship and marketing services totaled $ 279.0 thousand and $ 225.0 thousand, respectively. Gem + Jane Asset Acquisition — On February 14, 2022, the Company purchased certain intellectual property pertaining or related to a canned cannabis beverage brand from CannaCraft, Inc. The asset acquisition was a related party transaction. Terry Wheatley, President of VWE, is a member of the board of directors of CannaCraft, Inc., having the authority to establish policies and make decisions. Although members of the board of directors are typically independent from management, members of the board of directors would be considered management based on the definition of management in ASC 850, Related Party Disclosures .

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2022
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements include the accounts of all majority-owned or controlled subsidiaries, and all significant intercompany transactions and amounts have been eliminated. The results of businesses acquired or disposed of are included in the condensed consolidated financial statements from the date of the acquisition or up to the date of disposal, respectively. References to the "Company", "we," "our," "us," and similar pronouns in this Quarterly Report on Form 10-Q/A for the quarter ended March 31, 2022 (this "Form 10-Q/A") refer to Vintage Wine Estates, Inc., a Nevada corporation, and its majority owned subsidiaries or controlled subsidiaries unless the context requires otherwise. Our fiscal year ends on June 30. References to fiscal 2022 and 2021 in these condensed consolidated financial statements are to the fiscal years ending or ended June 30, 2022 and June 30, 2021, respectively. Our unaudited condensed consolidated financial statements have been prepared in accordance with the U.S. Securities and Exchange Commission ("SEC") instructions to Quarterly Reports on Form 10-Q and include the information and disclosures required by accounting principles generally accepted in the United States ("GAAP") for interim financial reporting. The COVID-19 pandemic ("COVID-19") continues to affect the U.S. and global economies. Restrictions imposed by federal, state, and local governments have disrupted and will continue to disrupt our business. While many of the restrictions have expired, some are continuing. We expect the COVID-19 pandemic to have a minimal impact on sales revenues, as we believe we are well-positioned to take advantage of increased direct-to-consumer sales platforms in lieu of in-person transactions. In the opinion of management, all adjustments necessary for a fair presentation of the condensed consolidated financial statements have been included. Except as disclosed elsewhere in this Form 10-Q/A, all such adjustments are of a normal and recurring nature. In addition, financial results presented for this fiscal 2022 interim period are not necessarily indicative of the results that may be expected for the full fiscal year ending June 30, 2022 or any other future interim or annual period. These condensed consolidated financial statements are unaudited and accordingly, should be read in conjunction with the audited consolidated financial statements and related notes contained in our Annual Report on Form 10-K for the fiscal year ended June 30, 2021, filed with the SEC on October 13, 2021. The June 30, 2021 condensed consolidated balance sheet was derived from the audited consolidated financial statements as of that date.
Merger and Reverse Recapitalization	Merger and Reverse Recapitalization We were formed in 2019 as Bespoke Capital Acquisition Corp. (“BCAC”), a special purpose acquisition company incorporated under the laws of the Province of British Columbia. BCAC was organized for the purpose of effecting an acquisition of one or more businesses or assets by way of a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or any other similar business combination involving BCAC. On June 7, 2021, BCAC completed its business combination (the "Merger") with Vintage Wine Estates, Inc., a California corporation ("Legacy VWE") pursuant to a transaction agreement dated February 3, 2021 (as amended, the “Transaction Agreement”) by the merger of VWE Acquisition Sub Inc., a wholly owned subsidiary of BCAC (“merger sub”) with and into Legacy VWE, with Legacy VWE continuing as the surviving entity and as a wholly owned subsidiary of BCAC. In connection with the Merger, BCAC changed its jurisdiction of incorporation from the Province of British Columbia to the State of Nevada and BCAC changed its name to Vintage Wine Estates, Inc. Upon the consummation of the Merger, the Company received approxi mately $ 248.7 millio n, net of fees and expenses. See Note 3 for additional details regarding the transaction.
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. These estimates form the basis for judgments we make about the carrying values of assets and liabilities that are not readily apparent from other sources. We base our estimates and judgments on historical experience and on various other assumptions that we believe are reasonable under the circumstances. These estimates are based on management’s knowledge about current events and expectations about actions we may undertake in the future. Significant estimates include, but are not limited to depletion allowance, allowance for doubtful accounts, the net realizable value of inventory, expected future cash flows including growth rates, discount rates, and other assumptions and estimates used to evaluate the recoverability of long-lived assets, estimated fair values of intangible assets in acquisitions, intangible assets and goodwill for impairment, amortization methods and periods, amortization period of label and package design costs, the estimated fair value of long-term debt, the valuation of interest rate swaps, contingent consideration, common stock, stock-based compensation and accounting for income taxes. Actual results could differ materially from those estimates.
Reclassification	Reclassifications Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations. Specifically, we reclassified accrued trade commissions to other accrued expenses and reclassified custom production and other receivables to Wholesale trade accounts receivables.
Cash	Cash Cash consists of deposits held at financial institutions.
Restricted Cash	Restricted Cash The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheet that sums to the total of the same such amounts as shown in the condensed consolidated statement of cash flows: (in thousands) March 31, 2022 June 30, 2021 Cash and cash equivalents $ 69,109 $ 118,879 Restricted cash 6,600 4,800 Total cash, cash equivalents and restricted cash as shown in the condensed consolidated statement of cash flows $ 75,709 $ 123,679 Restricted cash consists of $ 4.8 million that was deposited into a restricted cash account as collateral for the credit facility, subject to release upon the completion of certain construction costs and $ 1.8 million that was deposited into a restricted cash account as collateral for our captive insurance letter of credit.
Interest Rate Swap Agreements	I nterest Rate Swap Agreements GAAP requires that an entity recognize all derivatives (including interest rate swaps) as either assets or liabilities on the consolidated balance sheets and measure these instruments at fair value. The Company has entered into interest rate swap agreements as a means of managing its interest rate exposure on its debt obligations. These agreements mitigate our exposure to interest rate fluctuations on our variable rate obligations. We have not designated these agreements as cash-flow hedges. Accordingly, changes in the fair value of the interest rate swaps are included in the condensed consolidated statements of operations as a component of other income (expense). We do not enter into financial instruments for trading or speculative purposes.
Revenue recognition	Revenue Recognition Point in Time —Revenue is recognized when control of promised goods or services is transferred to a customer in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To determine revenue recognition, we perform the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. We recognize revenue when obligations under the terms of a contract with our customers are satisfied. Generally, this occurs when the product is shipped and title passes to the customer, and when control of the promised product or service is transferred to the customer. Our standard terms are free on board (“FOB”) shipping point, with no customer acceptance provisions. Revenue is measured as the amount of consideration expected to be received in exchange for transferring products. Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental authorities. We account for shipping and handling as activities to fulfill our promise to transfer the associated products. Accordingly, we record amounts billed for shipping and handling costs as a component of net sales and classify such costs as a component of costs of sales. Our products are generally not sold with a right of return unless the product is spoiled or damaged. Historically, returns have not been significant to the Company. Over Time —Certain long-term contracts in our Business-to-Business ("B2B") segment are for custom wine making services and include services such as fermentation, barrel aging, procurement of dry goods, bottling and cased goods. Additionally, we provide storage services for wine inventory of various customers. We recognize revenue over time as the contract specific performance obligations are met. Disaggregation of Revenue The following tables summarizes revenue by geographic region: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2022 2021 2022 2021 Geographic regions: United States $ 77,586 $ 45,929 $ 213,713 $ 159,830 Canada 500 644 1,812 1,997 Europe, Middle East, & Africa 180 55 821 261 Asia Pacific 488 157 1,325 1,211 Other 179 112 560 410 Total net revenue $ 78,933 $ 46,897 $ 218,231 $ 163,709 The following table provides a disaggregation of revenue based on the pattern of revenue recognition: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2022 2021 2022 2021 Point in time $ 65,170 $ 38,285 $ 180,116 $ 137,328 Over a period of time 13,763 8,612 38,115 26,381 Total net revenue $ 78,933 $ 46,897 $ 218,231 $ 163,709
Concentrations of Risk	Concentrations of Risk Financial instruments that potentially expose us to significant concentrations of credit risk consist primarily of cash and trade accounts receivable. We maintain the majority of our cash balances at multiple financial institutions that management believes are of high-credit quality and financially stable. At times, we have cash deposited with major financial institutions in excess of the Federal Deposit Insurance Corporation ("FDIC") insurance limits. At March 31, 2022 and June 30, 2021, we had $ 65.8 million and $ 121.6 million respectively, in one major financial institution in excess of FDIC insurance limits. We sell the majority of our wine through U.S. distributors and the Direct-to-Consumer channel. Receivables arising from these sales are not collateralized. We attempt to limit our credit risk by performing ongoing credit evaluations of our customers and maintaining adequate allowances for potential credit losses. The following table summarizes customer concentration: Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Revenue as a percent of total revenue Customer A 15.6 % 41.0 % 18.3 % 40.0 % Customer B * * 10.0 % 12.0 % Customer C * * 10.1 % * Customer D * * * * The following table summarizes customer concentration: March 31, 2022 June 30, 2021 Receivables as a percent of total receivables Customer A 44.3 % 35.0 % Customer B * 21.0 % Customer C * * Customer D 11.5 % 10.4 % * Customer revenue or receivables did not exceed 10% in the respective periods. Revenues for sales from Customer A are included within the Wholesale and Business-to-Business reporting segments, Customer B are included within the Business-to-Business reporting segment and Customer C and Customer D are included within the Wholesale reporting segment.
Inventories	Inventories Inventories of bulk and bottled wines, spirits, and ciders and inventories of non-wine products and bottling and packaging supplies are valued at the lower of cost using the FIFO method or net realizable value. Costs associated with winemaking, and other costs associated with the manufacturing of products for resale, are recorded as inventory. Net realizable value is the value of an asset that can be realized upon the sale of the asset, less a reasonable estimate of the costs associated with either the eventual sale or the disposal of the asset in question. Inventories are classified as current assets in accordance with recognized industry practice, although most wines and spirits are aged for periods longer than one year.
Business Combinations	Business Combinations Business combinations are accounted for under Accounting Standards Codification (“ASC”) 805—Business Combinations, using the acquisition method of accounting under which all acquired tangible and identifiable intangible assets and assumed liabilities and applicable noncontrolling interests are recognized at fair value as of the respective acquisition date, while the costs associated with the acquisition of a business are expensed as incurred. The allocation of purchase consideration requires management to make significant estimates and assumptions, especially with respect to intangible assets. These estimates can include, but are not limited to, a market participant’s expectation of future cash flows from acquired customers, acquired trade names, useful lives of acquired assets, and discount rates. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from such estimates. During the measurement period, which is generally no longer than one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed. Upon the conclusion of the measurement period, any subsequent adjustments are recognized in operations.
Segment information	Segment Information We operate in three reportable segments. Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and assessing performance. The Company’s chief operating decision maker (“CODM”), our Chief Executive Officer, allocates resources and assesses performance based upon discrete financial information at the segment level.
Income Taxes	Income Taxes Deferred income taxes are determined using the asset and liability method. Under this method, deferred income tax assets and liabilities are determined based on differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is recorded when the expected recognition of a deferred income tax asset is considered to be unlikely. We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the tax authorities, based on the technical merits of the position. The tax benefit is measured based on the largest benefit that has a greater than 50 % likelihood of being realized upon ultimate settlement. We recognize interest and penalties related to income tax matters as a component of income tax expense.
Redeemable Series A and Series B Stock	Redeemable Series A and Series B Stock Prior to the Merger, Legacy VWE had Series A and B stock outstanding. All of the Series B stock and the majority of the Series A stock was classified as temporary equity due to the shares being redeemable at the option of the holder. The carrying value of the redeemable Series A stock and redeemable Series B stock was being accreted to its respective redemption values, using the effective interest method, from the date of issuance to the earliest date the holders could demand redemption. Accretion of redeemable Series B stock included the accretion of dividends and issuance costs. Increases to the carrying value of redeemable Series A stock and redeemable Series B stock were charged to retained earnings or, in its absence, to additional paid-in-capital. Up on any repurchase of redeemable stock, the excess consideration paid over the carrying value at the time of repurchase is accounted for as a deemed dividend to the stockholders. In conjunction with the closing of the Merger, a majority of the redeemable Series B stock was redeemed and the remaining redeemable Series B shares, along with all redeemable Series A shares, were converted into shares of the Company's common stock. All Series A and Series B shares which were converted into shares of the Company's common stock were retroactively adjusted using the exchange ratio and reclassified into permanent equity as a result of the Merger.
Earnings Per Share	Earnings Per Share Basic and diluted net income (loss) per share allocable to common stockholders is presented in conformity with the two-class method required for participating securities. We considered our Series B stock to be participating securities as, in the event a dividend is paid on Series A stock, the holders of Series B stock would be entitled to receive dividends on a basis consistent with the Series A stockholders. The two-class method determines net income per share for each class of common and participating securities according to dividends declared or accumulated as well as participation rights in undistributed earnings. The two-class method requires income available to stockholders for the period to be allocated between common and participating securities based upon their respective rights to receive dividends as if all income for the period had been distributed. Legacy VWE’s redeemable Series B stock was considered to be a participating security. Under the two-class method, any net loss attributable to common stockholders is not allocated to the Series B stock as the holders of the Series B stock did not have a contractual obligation to share in losses. Basic net income (loss) per share is calculated by dividing the net income (loss) allocable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. For purposes of the calculation of diluted net income (loss) per share, convertible debt (previously convertible into Legacy VWE Series A stock) and stock options and warrants to purchase common stock are considered potentially dilutive securities but are excluded from the calculation of diluted net income (loss) per share when their effect is antidilutive. As a result, in certain periods, diluted net loss per share is the same as the basic net loss per share for the periods presented. The computation of net income (loss) available to Series A stockholders is computed by deducting the dividends declared, if any, and cumulative dividends, whether or not declared, in the period on Series B stock (whether paid or not) from the reported net income (loss). As the Merger has been accounted for as a reverse recapitalization, the consolidated financial statements of the merged entity reflect the continuation of Legacy VWE’s consolidated financial statements, with the Legacy VWE equity, which has been retroactively adjusted to the earliest period presented to reflect the legal capital of the legal acquirer, BCAC. As a result, net income (loss) per share was also restated for periods ended prior to the Merger.
Self Insurance	Self-Insurance On September 9, 2021, the Company formed VWE Captive, LLC, a wholly-owned captive insurance company ("Captive"), which became operational on October 1, 2021. The Company formed Captive to self-insure the first $ 10.0 million of claims, above which limit, Captive has secured insurance. The insurance policy protects us against a portion of our risk of loss related to earthquakes, flood and named wildfires and windstorms.
Emerging Growth Company Status	Emerging Growth Company Status We are an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act, until such time as those standards apply to private companies. We have elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that we (i) are no longer an emerging growth company or (ii) affirmatively and irrevocably opt out of the extended transition period provided in the JOBS Act.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides optional expedients and exceptions to applying the guidance on contract modifications, hedge accounting, and other transactions, to simplify the accounting for transitioning from the London Interbank Offered Rate, and other interbank offered rates expected to be discontinued, to alternative reference rates. The guidance in this ASU was effective upon its issuance; if elected, it is to be applied prospectively through December 31, 2022. The impact this ASU will have on our condensed consolidated financial statements will not be known until we have a modification to our financial instruments converting from LIBOR to another interest rate. Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (“Topic 842”), which supersedes the guidance in ASC 840, Leases . The new standard, as amended by subsequent ASUs on Topic 842 and recent extensions issued by the FASB in response to COVID-19, requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases t oday. Topic 842 will be effective for the Company for fiscal year ending June 30, 2023 and for interim periods in the year beginning July 1, 2022. We have not yet determined the full effects of Topic 842 on the Company's consolidated financial statements but do expect that it will result in a substantial increase in our long-term assets and liabilities and enhanced disclosures. Based on our initial assessment, we plan to be using the modified retrospective approach and electing the package of transition practical expedients for expired or existing contracts, which retains prior conclusions reached on lease identification, classification, and initial direct costs incurred. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. The adoption of this guidance will at least result in the recognition of operating lease right-of-use assets and operating lease liabilities in our vineyard leases with a weighted-average remaining lease term of less than 10 years upon the adoption on July 1, 2022. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , as amended, which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. It also eliminates the concept of other-than-temporary impairment and requires credit losses related to available-for-sale debt securities to be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. These changes will result in more timely recognition of credit losses. The guidance is effective for the Company for fiscal year ending on June 30, 2024 and interim periods beginning for the fiscal year commencing on July 1, 2023. Early adoption is permitted. We do not expect the adoption of this standard will have a significant impact on the consolidated financial statements given our historically low bad debt expense. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes (Topic 740) . The amendments in the updated guidance simplify the accounting for income taxes by removing certain exceptions and improving consistent application of other areas of the topic by clarifying the guidanc e. The amendments in this update are effective for the Company for fiscal year ending June 30, 2023 and interim periods within the fiscal years beginning after December 15, 2022. Early adoption is permitted. We are currently evaluating the impact and timing of adopting ASU 2019-12, however at this time, the adoption is not expected to have a significant impact on the consolidated financial statements. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers . The amendments in the updated guidance require that an entity recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. The amendments in this update are effective for the Company for fiscal years ending June 30, 2024 and for interim periods in the year beginning July 1, 2023. Early adoption is permitted including adoption at an interim period. We are currently evaluating the impact and timing of adopting ASU 2021-08, however at this time, the adoption is not expected to have a significant impact on the consolidated financial statements.
Stock based Compensation	Stock-Based Compensation Stock-based compensation provided to employees is recognized in the consolidated statement of operations based on the grant date fair value of the awards. The fair value of restricted stock units is determined by the grant date market price of our common shares. The fair value of stock options is determined on the grant date using a Monte Carlo simulation model. The determination of the grant date fair value of stock option awards granted is affected by a number of variables, including the fair value of the Company's common stock, the expected common stock price volatility over the life of the awards, the expected term of the stock option, risk-free interest rates and the expected dividend yield of the Company's common stock. Due to the Company's limited trading history since becoming a public company on June 7, 2021, the Company derived its volatility from the average historical stock volatilities of several peer public companies over a period equivalent to the expected term of the awards. The compensation expense recognized for stock-based awards is net of estimated forfeitures and is recognized ratably over the service period of the awards. All income tax effects of stock-based awards are recognized in the consolidated statements of operations as awards vest or are settled. We classify stock-based compensation expense in selling, general and administrative ("SG&A") expenses in the consolidated statement of operations.
Earnout Shares	Earnout Shares The Legacy VWE shareholders may become entitled to receive up to an additional 5,726,864 shares of the Company’s common stock (the “Earnout Shares”) pursuant to the Transaction Agreement. The Earnout Shares will be released if the price of our common stock meets certain thresholds in the 24 months following the closing of the Merger (see Note 3). The Earnout Shares meet the accounting definition of a derivative financial instrument, are considered to be indexed to the Company’s common stock and meet other conditions in ASC 815-40, Derivatives and Hedging: Contracts in Entity's Own Equity , to be classified as equity. The Company’s obligation to issue the Earnout Shares is recorded as a dividend to the Legacy VWE shareholders at fair value as of the date of the Merger. The fair value of the Earnout Shares was determined using a Monte Carlo valuation model, which requires significant estimates including the expected volatility of our common stock. The expected annual volatility of our common stock was estimated to be 55.0 % as of the date of the Merger, based on the historical volatility of comparable publicly traded companies.

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Tables)	9 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of Reconciliation of Cash, Cash Equivalents, and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheet that sums to the total of the same such amounts as shown in the condensed consolidated statement of cash flows: (in thousands) March 31, 2022 June 30, 2021 Cash and cash equivalents $ 69,109 $ 118,879 Restricted cash 6,600 4,800 Total cash, cash equivalents and restricted cash as shown in the condensed consolidated statement of cash flows $ 75,709 $ 123,679 Restricted cash consists of $ 4.8 million that was deposited into a restricted cash account as collateral for the credit facility, subject to release upon the completion of certain construction costs and $ 1.8 million that was deposited into a restricted cash account as collateral for our captive insurance letter of credit.
Summary of Revenue by Segment and Region	The following tables summarizes revenue by geographic region: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2022 2021 2022 2021 Geographic regions: United States $ 77,586 $ 45,929 $ 213,713 $ 159,830 Canada 500 644 1,812 1,997 Europe, Middle East, & Africa 180 55 821 261 Asia Pacific 488 157 1,325 1,211 Other 179 112 560 410 Total net revenue $ 78,933 $ 46,897 $ 218,231 $ 163,709
Summary of Disaggregation of Revenue	The following table provides a disaggregation of revenue based on the pattern of revenue recognition: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2022 2021 2022 2021 Point in time $ 65,170 $ 38,285 $ 180,116 $ 137,328 Over a period of time 13,763 8,612 38,115 26,381 Total net revenue $ 78,933 $ 46,897 $ 218,231 $ 163,709
Schedules of Customer Concentration Risk	The following table summarizes customer concentration: Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Revenue as a percent of total revenue Customer A 15.6 % 41.0 % 18.3 % 40.0 % Customer B * * 10.0 % 12.0 % Customer C * * 10.1 % * Customer D * * * * The following table summarizes customer concentration: March 31, 2022 June 30, 2021 Receivables as a percent of total receivables Customer A 44.3 % 35.0 % Customer B * 21.0 % Customer C * * Customer D 11.5 % 10.4 % * Customer revenue or receivables did not exceed 10% in the respective periods.

Restatement of Previously Iss_2

Restatement of Previously Issued Condensed Consolidated Financial Statements (Tables)	9 Months Ended
	Mar. 31, 2022
Accounting Changes and Error Corrections [Abstract]
Schedule of Restatement of Previously Issued Condensed Consolidated Financial Statements	The following tables present the impact of the adjustments described above to our previously reported condensed consolidated balance sheets for the nine months ended March 31, 2022, and the related condensed consolidated statements of operations, condensed consolidated statements of stockholders’ equity and condensed consolidated cash flows for the three and nine months ended March 31, 2022. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands, except share amounts) March 31, 2022 As Previously Reported Adjustments As Restated Assets Current assets: Cash $ 69,109 $ 69,109 Restricted cash 6,600 6,600 Accounts receivable, net 39,649 39,649 Other receivables 13,668 13,668 Inventories 221,264 221,264 Interest rate swap assets - 716 716 Prepaid expenses and other current assets 10,968 10,968 Total current assets 361,258 716 361,974 Property, plant, and equipment, net 234,141 234,141 Goodwill 158,185 158,185 Intangible assets, net 64,809 64,809 Interest rate swap assets, long-term - 4,417 4,417 Other assets 7,635 7,635 Total assets $ 826,028 $ 5,133 831,161 Liabilities, redeemable noncontrolling interest, and stockholders' equity - Current liabilities: - Line of credit $ 146,732 146,732 Accounts payable 14,777 14,777 Accrued liabilities and other payables 30,460 2,678 33,138 Interest rate swap liabilities - 977 977 Current maturities of long-term debt 21,200 21,200 Total current liabilities 213,169 3,655 216,824 Other long-term liabilities 8,740 8,740 Long-term debt, less current maturities 172,324 172,324 Interest rate swap liabilities, noncurrent 5,225 ( 5,225 ) - Deferred tax liability 29,965 29,965 Deferred gain 10,999 10,999 Total liabilities 440,422 ( 1,570 ) 438,852 Commitments and contingencies (Note 13) - Redeemable noncontrolling interest 1,684 1,684 Stockholders' equity: - Preferred stock, no par value, 2,000,000 shares authorized, and none issued and outstanding at March 31, 2022 and June 30, 2021. - - Common stock, no par value, 200,000,000 shares authorized, 61,691,054 issued and 61,377,515 outstanding at March 31, 2022 and 60,461,611 issued and outstanding at June 30, 2021. - - Additional paid-in capital 373,196 373,196 Treasury stock, at cost: 313,539 and zero shares held at March 31, 2022 and June 30, 2021, respectively ( 2,833 ) ( 2,833 ) Retained earnings 14,176 6,704 20,880 Total Vintage Wine Estates, Inc. stockholders' equity 384,539 6,704 391,243 Noncontrolling interests ( 617 ) ( 1 ) ( 618 ) Total stockholders' equity 383,922 6,703 390,625 Total liabilities, redeemable noncontrolling interest, and stockholders' equity $ 826,028 $ 5,133 $ 831,161 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) (in thousands, except share and per share amounts) Three Months Ended March 31, Nine Months Ended March 31, 2022 2022 As Previously Reported Adjustments As Restated As Previously Reported Adjustments As Restated Net revenues Wine, spirits and cider $ 50,859 $ 50,859 $ 157,292 $ 157,292 Nonwine 28,074 28,074 60,939 60,939 78,933 78,933 218,231 218,231 Cost of revenues Wine, spirits and cider 38,764 38,764 98,428 98,428 Nonwine 12,152 12,152 29,886 29,886 50,916 50,916 128,314 128,314 Gross profit 28,017 28,017 89,917 89,917 Selling, general, and administrative expenses 27,035 27,035 70,662 70,662 Loss (gain) on sale of property, plant, and equipment 98 98 ( 493 ) ( 493 ) Gain on litigation proceeds - - - - Income from operations 884 884 19,748 19,748 Other income (expense) Interest expense ( 3,729 ) ( 3,729 ) ( 10,825 ) ( 10,825 ) Net unrealized gain on interest rate swap agreements 4,553 9,288 13,841 8,582 9,288 17,870 Other, net 1,957 1,957 1,945 1,945 Total other income (expense), net 2,781 9,288 12,069 ( 298 ) 9,288 8,990 Income before provision for income taxes 3,665 9,288 12,953 19,450 9,288 28,738 Income tax provision 958 2,585 3,543 5,412 2,585 7,997 Net income 2,707 6,703 9,410 14,038 6,703 20,741 Net income (loss) attributable to the noncontrolling interests ( 73 ) ( 1 ) ( 74 ) ( 138 ) ( 1 ) ( 139 ) Net income attributable to Vintage Wine Estates, Inc. 2,780 6,704 9,484 14,176 6,704 20,880 Accretion on redeemable Series B stock - - - - Net income (loss) allocable to common stockholders $ 2,780 $ 6,704 $ 9,484 $ 14,176 $ 6,704 $ 20,880 Net earnings (loss) per share allocable to common stockholders Basic $ 0.05 $ 0.10 $ 0.15 $ 0.23 $ 0.11 $ 0.34 Diluted $ 0.05 $ 0.10 $ 0.15 $ 0.23 $ 0.11 $ 0.34 Weighted average shares used in the calculation of earnings per share allocable to common stockholders Basic 61,410,403 61,410,403 60,773,258 60,773,258 Diluted 61,410,403 61,410,403 60,773,258 60,773,258 CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Unaudited) (in thousands, except share amounts) Redeemable Non-Controlling Common Stock Treasury Stock Additional Retained Non-Controlling Total Stockholders' Equity Shares Amount Shares Amount Balance, June 30, 2021 $ 1,682 60,461,611 $ - $ 360,732 $ - $ ( 477 ) $ 360,255 Net income (loss) 3 - - - 2,804 ( 28 ) 2,776 Balance, September 30, 2021 $ 1,685 60,461,611 $ - $ 360,732 $ 2,804 $ ( 505 ) $ 363,031 Net income (loss) 5 - - - 8,592 ( 45 ) 8,547 Balance, December 31, 2021 $ 1,690 60,461,611 $ - $ 360,732 $ 11,396 $ ( 550 ) $ 371,578 Stock-based compensation - - 1,943 - - 1,943 Issuance of common stock in business combination 1,229,443 - - - 10,521 - - 10,521 Repurchase of common stock - - 313,539 ( 2,833 ) - - - ( 2,833 ) Net income (loss) ( 6 ) - - - - - 2,780 ( 68 ) 2,712 Adjustments 6,704 6,704 Balance, March 31, 2022, As Restated $ 1,684 61,691,054 $ - 313,539 $ ( 2,833 ) $ 373,196 $ 20,880 $ ( 618 ) $ 390,625 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (in thousands) Nine Months Ended March 31, 2022 As Previously Reported Adjustments As Restated Cash flows from operating activities Net income $ 14,038 6,703 $ 20,741 Adjustments to reconcile net income to net cash from operating activities: Depreciation and amortization 17,365 17,365 Amortization of deferred loan fees and line of credit fees 296 296 Amortization of label design fees 668 668 Litigation proceeds - - Stock-based compensation expense 1,943 1,943 Provision for doubtful accounts 45 45 Impairment of inventory - - Net unrealized gain on interest rate swap agreements ( 8,582 ) ( 9,288 ) ( 17,870 ) (Benefit) provision for deferred income tax 888 888 Loss (gain) on disposition of assets 508 508 Deferred gain on sale leaseback ( 1,000 ) ( 1,000 ) Deferred rent 285 285 Change in operating assets and liabilities (net of effect of business combinations): Accounts receivable ( 21,261 ) ( 21,261 ) Related party receivables - - Other receivables 376 376 Litigation receivable - - Inventories 4,244 4,244 Prepaid expenses and other current assets ( 2,232 ) ( 2,232 ) Other assets ( 6,215 ) ( 6,215 ) Accounts payable ( 8,106 ) ( 8,106 ) Accrued liabilities and other payables 2,836 2,585 5,421 Related party liabilities - - Net cash (used in) provided by operating activities ( 3,903 ) - ( 3,903 ) Cash flows from investing activities - - Proceeds from disposition of assets 105 105 Purchases of property, plant, and equipment ( 15,723 ) ( 15,723 ) Label design expenditures ( 225 ) ( 225 ) Proceeds on related party notes receivable - - Acquisition of businesses ( 74,268 ) ( 74,268 ) Net cash used in investing activities ( 90,111 ) ( 90,111 ) Cash flows from financing activities - - Repurchase of common stock ( 2,833 ) ( 2,833 ) Principal payments on line of credit ( 67,210 ) ( 67,210 ) Proceeds from line of credit 126,591 126,591 Outstanding checks in excess of cash 2,900 2,900 Principal payments on long-term debt ( 13,178 ) ( 13,178 ) Proceeds from long-term debt - - Principal payments on related party note - - Deferred offering costs - - Payments on acquisition payable ( 226 ) ( 226 ) Net cash provided by financing activities 46,044 46,044 Net change in cash and restricted cash ( 47,970 ) ( 47,970 ) Cash and restricted cash , beginning of period 123,679 123,679 Cash and restricted cash, end of period $ 75,709 $ 75,709 Supplemental cash flow information Cash paid during the period for: Interest $ 9,508 $ 9,415 Income taxes $ 22 $ 22 Noncash investing and financing activities: - $ - Contingent consideration in a business combination $ 8,460 $ 8,460 Issuance of common stock in business combination $ 10,521 $ 10,521 Accretion of redemption value of Series B redeemable cumulative stock $ - $ - Accretion of redemption value of Series A redeemable stock $ - $ - Offering costs $ - $ -

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Mar. 31, 2022
Business Acquisition [Line Items]
Business Acquisition Pro Forma Information	The pro forma financial information presented below is for informational purposes only, and is subject to a number of estimates, assumptions and other uncertainties. Three Months Ended Nine Months Ended (in thousands) 2022 2021 2022 2021 Total pro forma revenues $ 78,933 $ 59,057 $ 241,381 $ 204,102 Pro forma net income (loss) $ 9,410 $ 2,303 $ 21,619 $ 21,174
Vinesse, LLC
Business Acquisition [Line Items]
Summary Of Allocation Of Purchase Price To The Fair Value Of Assets Acquired	The preliminary allocation of the consideration for the net assets acquired from the acquisition of Vinesse were as follows: (in thousands) Sources of financing Cash $ 14,000 Accrued other 600 Contingent consideration 2,400 Fair value of consideration 17,000 Assets acquired: Fixed assets 121 Inventory 2,502 Trade Names and Trademarks 1,200 Customer relationships 3,700 Deferred tax liability ( 1,323 ) Total identifiable assets acquired 6,200 Goodwill $ 10,800
ACE Cider
Business Acquisition [Line Items]
Summary Of Allocation Of Purchase Price To The Fair Value Of Assets Acquired	The preliminary allocation of the consideration for the net assets acquired from the acquisition of ACE Cider were as follows: (in thousands) Sources of financing Cash $ 46,880 Accrued other 60 Contingent consideration 500 Fair value of consideration 47,440 Assets acquired: Fixed assets 4,205 Inventory 1,350 Trademarks 6,600 Customer relationships 14,300 Deferred tax liability ( 6,531 ) Total identifiable assets acquired 19,924 Goodwill $ 27,516
Meier's Wine Cellars, Inc
Business Acquisition [Line Items]
Summary Of Allocation Of Purchase Price To The Fair Value Of Assets Acquired	The preliminary allocation of the consideration for the net assets acquired from the acquisition of Meier's were as follows: (in thousands) Sources of financing Cash $ 12,500 Shares of common stock 10,521 Contingent consideration 4,900 Settlement of pre-existing relationship ( 125 ) Fair value of consideration 27,796 Assets acquired: Accounts receivable 3,669 Fixed assets 11,358 Inventory 4,280 Other assets 356 Trademarks 600 Customer relationships 5,600 Accounts payable and accrued expenses ( 2,682 ) Deferred tax liability ( 5,359 ) Total identifiable assets acquired 17,822 Goodwill $ 9,974

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consists of the following: (in thousands) March 31, 2022 June 30, 2021 Bulk wine, spirits and cider $ 109,408 $ 119,333 Bottled wine, spirits and cider 89,808 90,083 Bottling and packaging supplies 20,526 10,482 Nonwine inventory 1,522 1,247 Total inventories $ 221,264 $ 221,145

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment consists of the following: (in thousands) March 31, 2022 June 30, 2021 Buildings and improvements $ 140,241 $ 129,288 Land 36,215 33,734 Machinery and equipment 74,677 58,227 Cooperage 11,804 10,551 Vineyards 21,174 21,364 Furniture and fixtures 1,581 1,343 285,692 254,507 Less accumulated depreciation and amortization ( 64,591 ) ( 52,791 ) 221,101 201,716 Construction in progress 13,040 11,957 $ 234,141 $ 213,673

Goodwill and Intangibles Asse_2

Goodwill and Intangibles Assets (Tables)	9 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Goodwill by Segment	The following table summarizes the changes in the carrying amount of goodwill by segment: (in thousands) Wholesale Direct-to-Consumer Business-to-Business Total Balance at June 30, 2021 $ 88,808 $ 20,342 $ 745 $ 109,895 Goodwill acquired in Vinesse business combination $ 10,800 $ 10,800 Goodwill acquired in ACE Cider business acquisition 27,516 - 27,516 Goodwill acquired in Meier's business acquisition 9,974 9,974 Balance at March 31, 2022 $ 116,324 $ 31,142 $ 10,719 $ 158,185
Schedule of Components of Finite-Lived Intangible Assets, Accumulated Amortization, and Indefinite-Lived Assets	The following tables summarize other intangible assets by class: March 31, 2022 (in thousands) Gross Accumulated Net Intangible Weighted Average Remaining Amortization Period (in years) Indefinite-life intangibles Trade names and trademarks $ 29,829 $ - $ 29,829 N/A Winery use permits 6,750 - 6,750 N/A Total Indefinite-life intangibles 36,579 - 36,579 Definite-life intangibles Customer and Sommelier relationships 29,900 ( 3,320 ) 26,580 4.7 Trade names and trademarks 1,800 ( 150 ) 1,650 3.8 Total definite-life intangibles 31,700 ( 3,470 ) 28,230 Total other intangible assets $ 68,279 $ ( 3,470 ) $ 64,809 June 30, 2021 (in thousands) Gross Accumulated Net Intangible Weighted Average Remaining Amortization Period (in years) Indefinite-life intangibles Trade names and trademarks $ 23,229 $ - $ 23,229 N/A Winery use permits 6,750 - 6,750 N/A Total Indefinite-life intangibles 29,979 - 29,979 Definite-life intangibles Customer and Sommelier relationships 6,300 ( 200 ) 6,100 4.7 Total definite-life intangibles 6,300 ( 200 ) 6,100 Total other intangible assets $ 36,279 $ ( 200 ) $ 36,079
Estimated Future Amortization Expense for Finite-Lived Intangible Assets	As of March 31, 2022, estimated future amortization expense for definite-lived assets is as follows: 2022 remaining $ 1,659 2023 6,637 2024 6,626 2025 5,106 Thereafter 8,202 Total estimated amortization expense $ 28,230

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Schedule Of Accrued Liabilities	The major classes of accrued liabilities are summarized as follows: March 31, 2022 June 30, 2021 (in thousands) As Restated Accrued purchases $ 11,616 $ 10,790 Accrued employee compensation 3,921 3,981 Other accrued expenses 9,857 6,754 Accrued interest expense 1,225 202 Contingent consideration 4,471 2,151 Unearned Income 418 1,200 Captive insurance liabilities 1,630 - Total Accrued liabilities and other payables $ 33,138 $ 25,078

Long-Term and Other Short-Ter_2

Long-Term and Other Short-Term Borrowings (Tables)	9 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Summary of Long-term and Other Short-term Obligations	The following table summarizes long-term and other short-term obligations: (in thousands) March 31, 2022 June 30, 2021 Note to a bank with interest at LIBOR ( 1.76 %) at Mach 31, 2022 plus 1.75 %; payable in quarterly installments of $ 1,180 principal with applicable interest; matures in September 2026 ; secured by specific assets of the Company. Loan amended April 2021. Quarterly payments of $ 1,066 reduced from $1,180 starting June 2021. Revised maturity date July 2026. 77,858 81,055 Capital expenditures borrowings payable at LIBOR plus 1.75 %, payable in quarterly installments of $ 1,077 , rolled into capital expenditures payable at Alternate Base Rate (ABR) ( 3.25 % at June 30, 2021) plus 0.75 %. At July 26,2021 Bank of the West converted capital expenditures payable back to Libor ( 0.50 %) plus 1.75 % to align with Company Swaps with draw expiring July, 2026. 41,853 45,084 Note to a bank with interest fixed at 3.6 %, payable in monthly installments of $ 60 principal with applicable interest; matures in April 2023 . 768 1,227 Note to a bank with interest fixed at 2.75 %, payable in monthly installments of $ 61 principal with March 2024 . 1,419 1,876 Delayed Draw Term Loan ("DDTL") with interest at LIBOR ( 2.32 %) at March 2022 plus 1.75 %, payable in quarterly installments of $ 1,260 . Matures in July 2024 . 67,142 29,250 DDTL with ABR ( 4.00 % at December 2021). Matures in July 2024. Interest only through draw period. Repaid in fiscal 2022. - 37,892 Short term unsecured promissory note; principal and interest payable upon maturity with interest at the prime rate plus 1.00 %; matured and paid April 2022. 2,917 2,917 Short term unsecured promissory note; principal and interest payable upon maturity with interest at the prime rate plus 1.00 %; matured and paid April 2022. 2,917 2,917 Short term unsecured promissory note; principal and interest payable upon maturity with interest at 1.06 %; matured December 31, 2021 and paid January 3, 2022. - 5,834 194,874 208,052 Less current maturities ( 21,200 ) ( 22,964 ) Less unamortized deferred financing costs ( 1,350 ) ( 1,547 ) $ 172,324 $ 183,541
Schedule of Maturities of Long-term and Other Short-term Borrowings	As of March 31, 2022, maturities of long-term and other short-term borrowings for succeeding years are as follows: (in thousands) Remaining 2022 $ 9,585 2023 14,909 2024 14,152 2025 64,372 2026 8,571 2027 83,285 $ 194,874

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Summary of Fair Value Assets and Liabilities Measured on Recurring Basis	The following tables present assets and liabilities measured at fair value on a recurring basis: March 31, 2022, As Restated (in thousands) Level 1 Level 2 Level 3 Total Assets: Money market funds $ 51,576 $ - $ - $ 51,576 Interest rate swaps (2) 5,133 5,133 Total $ 51,576 $ 5,133 $ - $ 56,709 Liabilities: Contingent consideration liabilities (1) $ - $ - $ 12,205 $ 12,205 Interest rate swaps (2) 977 977 Total $ - $ 977 $ 12,205 $ 13,182 June 30, 2021 (in thousands) Level 1 Level 2 Level 3 Total Assets: Money market funds $ 6,525 $ - $ - $ 6,525 Total $ 6,525 $ - $ - $ 6,525 Liabilities: Contingent consideration liabilities (1) $ - $ - $ 4,631 $ 4,631 Interest rate swaps (2) - 13,807 - 13,807 Total $ - $ 13,807 $ 4,631 $ 18,438
Summary of Reconciliation of Liabilities Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)	The following table provides a reconciliation of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3): (in thousands) Contingent Balance at June 30, 2021 $ 4,631 Acquisitions 7,800 Payments ( 226 ) Balance at March 31, 2022 12,205 Less: current portion ( 4,471 ) Long term portion $ 7,734

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Schedule of Reserved Shares Stock on Converted Basis	We had reserved shares of stock, on an as-if converted basis, for issuance as follows: March 31, 2022 June 30, 2021 Warrants 26,000,000 26,000,000 Earnout shares 5,726,864 5,726,864 Total 31,726,864 31,726,864
Schedule of Share-Based Compensation Expense	The following table provides total share-based compensation expense by award type: Three Months Ended Nine Months Ended (in thousands) March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 Stock option awards $ 828 $ - $ 828 $ - Restricted stock units 1,115 - 1,115 - Total share-based compensation $ 1,943 $ - $ 1,943 $ -
Summary of Stock Options Activity	The following table presents a summary of stock option activity under the 2021 Plan: Stock Options Weighted-Average Exercise Price Aggregate Intrinsic Value Outstanding at June 30, 2021 - - - Granted 2,675,651 10.50 - Exercised - - - Canceled and forfeited ( 25,600 ) 10.50 - Outstanding at March 31, 2022 2,650,051 10.50 -
Summary of Restricted Stock Units Activity	The following table presents a summary of restricted stock units activity for the periods presented: Restricted Stock Units Weighted-Average Grant Date Fair Value Outstanding at June 30, 2021 - - Granted 1,398,526 8.22 Issued - - Canceled and forfeited - - Outstanding at March 31, 2022 1,398,526 8.22
Summary of Changes in Treasury Stock	The table below summarizes the changes in treasury stock: Three Months Ended Nine Months Ended March 31, 2022 March 31, 2021 Treasury stock: Balance at December 31, 2021 - - Repurchases of common stock 313,539 313,539 Balance at March 31, 2022 313,539 313,539

Commitments and Contingencies -

Commitments and Contingencies - (Tables)	9 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Lease Payments	The minimum annual payments under our lease agreements are as follows: (in thousands) Total Remaining 2022 $ 1,978 2023 6,453 2024 6,551 2025 6,252 2026 5,834 2027 and thereafter 17,610 $ 44,678
Schedule of Purchase Commitments	Estimated future minimum grape and bulk wine purchase commitments are as follows: (in thousands) Total Remaining 2022 $ 21,015 2023 13,594 2024 6,301 2025 3,553 2026 353 $ 44,816

Segments (Tables)

Segments (Tables)	9 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Summary of Revenue by Segment and Region	The following tables present net revenues and income from operations directly attributable to the Company's segments: Three Months Ended March 31, 2022 (in thousands) Wholesale Direct-to-Consumer Business-to-Business Corporate and Other Total Segment Results Net revenues $ 24,549 $ 19,595 $ 33,657 $ 1,132 $ 78,933 Income (loss) from operations $ 3,270 $ 916 $ 10,457 $ ( 13,759 ) $ 884 Three Months Ended March 31, 2021 (in thousands) Wholesale Direct-to-Consumer Business-to-Business Corporate and Other Total Segment Results Net revenues $ 21,092 $ 14,675 $ 11,026 $ 104 $ 46,897 Income (loss) from operations $ 6,138 $ 1,986 $ 3,391 $ ( 11,331 ) $ 184 Nine Months Ended March 31, 2022 (in thousands) Wholesale Direct-to-Consumer Business-to-Business Corporate and Other Total Segment Results Net revenues $ 62,923 $ 69,316 $ 83,349 $ 2,643 $ 218,231 Income (loss) from operations $ 12,654 $ 14,834 $ 26,274 $ ( 34,014 ) $ 19,748 Nine Months Ended March 31, 2021 (in thousands) Wholesale Direct-to-Consumer Business-to-Business Corporate and Other Total Segment Results Net revenues $ 55,399 $ 48,650 $ 57,704 $ 1,956 $ 163,709 Income (loss) from operations $ 14,760 $ 9,997 $ 18,052 $ ( 22,751 ) $ 20,058

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders	The following table reconciles the number of common shares used to compute basic and diluted earnings per share attributable to Vintage Wine Estates, Inc., shareholders: Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 (in thousands, except for per share amounts) As Restated As Restated Net income $ 9,410 $ 626 $ 20,741 $ 15,263 Less: Series B dividends and accretion - 1,446 - 4,760 Less: (loss) income allocable to noncontrolling interest ( 74 ) 53 ( 139 ) 343 Net income (loss) allocable to common shareholders $ 9,484 $ ( 873 ) $ 20,880 $ 10,160 Numerator – Basic EPS Net income (loss) allocable to common shareholders $ 9,484 $ ( 873 ) $ 20,880 $ 10,160 Less: net income allocated to participating securities (Series B) - - - 1,752 Net income (loss) allocated to common shareholders $ 9,484 $ ( 873 ) $ 20,880 $ 8,408 Numerator – Diluted EPS Net income (loss) allocated to common shareholders $ 9,484 $ ( 873 ) $ 20,880 $ 8,408 Add: net income attributable to convertible debt - - - 147 Reallocation of income under the two-class method - - - 44 Net income (loss) allocated to common shareholders $ 9,484 $ ( 873 ) $ 20,880 $ 8,599 Denominator – Basic Common Shares Weighted average common shares outstanding - Basic 61,410 21,921 60,773 21,921 Denominator – Diluted Common Shares Effect of dilutive securities: Stock options - - - 406 Convertible debt - - - 2,237 Weighted average common shares - Diluted 61,410 21,921 60,773 24,564 Net income (loss) per share – basic: Common Shares $ 0.15 $ ( 0.04 ) $ 0.34 $ 0.38 Net income (loss) per share – diluted: Common Shares $ 0.15 $ ( 0.04 ) $ 0.34 $ 0.35
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following securities have been excluded from the calculations of diluted earnings per share attributable to common shareholders because including them would have been antidilutive: Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Shares subject to warrants to purchase common stock 26,000,000 - 26,000,000 - Shares subject to options to purchase common stock 2,650,051 816,868 2,650,051 277,700 Total 28,650,051 816,868 28,650,051 277,700

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Schedule of Components of Related Party Receivables and Related Party Liabilities	The components of related party revenues and expenses are as follows: Three Months Ended Nine Months Ended (in thousands) March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 Revenues: Warehousing and fulfillment services $ - $ 166 $ - $ 715 Storage and bottling of alcoholic beverages - 29 - 50 Management fees - 115 - 388 Marketing and distribution - 1,625 - 1,625 Expenses: Concourse Warehouse lease - - - 241 Swanson lease - 163 - 516 Z.R. Waverly lease - - - 66

Basis of Presentation and Sig_4

Basis of Presentation and Significant Accounting Policies - Additional information (Details) $ in Thousands			3 Months Ended		9 Months Ended
	Oct. 01, 2021 USD ($)	Jun. 07, 2021 USD ($)	Mar. 31, 2022 USD ($) shares	Mar. 31, 2021	Mar. 31, 2022 USD ($) Segment shares	Mar. 31, 2021 USD ($)	Jun. 30, 2021 USD ($)
Subsidiary Sale Of Stock [Line Items]
Business combination fee and expense received		$ 248,700
Restricted Cash			$ 6,600		$ 6,600		$ 4,800
Cash deposited FDIC insurance limits			$ 65,800		$ 65,800		$ 121,600
Number of reporting segments | Segment					3
Stock-based compensation expense					$ 1,943	$ 601
Federal income tax at the statutory rate			21%	21%	21%	21%
Additional shares received of common stock | shares			5,726,864		5,726,864
Expected volatility of common stock					55%
Expected Realized benefits, Percentage					50%
Captive Insurance Letter of Credit [Member]
Subsidiary Sale Of Stock [Line Items]
Restricted Cash			$ 1,800		$ 1,800
VWE Captive LLC [Member]
Subsidiary Sale Of Stock [Line Items]
Secured insurance claims limit	$ 10,000

Basis of Presentation and Sig_5

Basis of Presentation and Significant Accounting Policies - Summary of Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 69,109	$ 118,879
Restricted Cash	6,600	4,800
Total cash, cash equivalents and restricted cash as shown in the statement of cash flows	$ 75,709	$ 123,679	$ 456	$ 1,751

Basis of Presentation and Sig_6

Basis of Presentation and Significant Accounting Policies - Summary of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Disaggregation Of Revenue [Line Items]
Total net revenue	$ 78,933	$ 46,897	$ 218,231	$ 163,709
United States
Disaggregation Of Revenue [Line Items]
Total net revenue	77,586	45,929	213,713	159,830
Canada
Disaggregation Of Revenue [Line Items]
Total net revenue	500	644	1,812	1,997
Europe, Middle East, & Africa
Disaggregation Of Revenue [Line Items]
Total net revenue	180	55	821	261
Asia Pacific
Disaggregation Of Revenue [Line Items]
Total net revenue	488	157	1,325	1,211
Other
Disaggregation Of Revenue [Line Items]
Total net revenue	$ 179	$ 112	$ 560	$ 410

Basis of Presentation and Sig_7

Basis of Presentation and Significant Accounting Policies - Summary of Disaggregation of Revenue Recognized (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Disaggregation Of Revenue [Line Items]
Total net revenue	$ 78,933	$ 46,897	$ 218,231	$ 163,709
Point in Time
Disaggregation Of Revenue [Line Items]
Total net revenue	65,170	38,285	180,116	137,328
Over a period of Time
Disaggregation Of Revenue [Line Items]
Total net revenue	$ 13,763	$ 8,612	$ 38,115	$ 26,381

Basis of Presentation and Sig_8

Basis of Presentation and Significant Accounting Policies - Schedules of Customer Concentration Risk (Details) - Customer Concentration	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021
Customer A | Revenue
Concentration Risk [Line Items]
Concentration risk percentage	15.60%	41%	18.30%	40%
Customer A | Receivables
Concentration Risk [Line Items]
Concentration risk percentage			44.30%		35%
Customer B | Revenue
Concentration Risk [Line Items]
Concentration risk percentage			10%	12%
Customer B | Receivables
Concentration Risk [Line Items]
Concentration risk percentage					21%
Customer C | Revenue
Concentration Risk [Line Items]
Concentration risk percentage			10.10%
Customer D | Receivables
Concentration Risk [Line Items]
Concentration risk percentage			11.50%		10.40%

Restatement of Previously Iss_3

Restatement of Previously Issued Condensed Consolidated Financial - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2022	Mar. 31, 2022	Jun. 30, 2021
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Assets	$ 831,161	$ 831,161	$ 743,498
Liabilities	438,852	438,852	$ 381,561
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Assets	5,133	5,133
Liabilities	(1,570)	(1,570)
Unrecognized gain on interest rate swap agreements	$ 6,700	$ 6,700

Restatement of Previously Iss_4

Restatement of Previously Issued Condensed Consolidated Financial - Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cash	$ 69,109			$ 118,879
Restricted cash	6,600			4,800
Accounts receivable, net	39,649			21,193
Other receivables	13,668			7,490
Inventories	221,264			221,145
Interest rate swap assets	716			0
Prepaid expenses and other current assets	10,968			8,538
Total current assets	361,974			382,045
Property, plant, and equipment, net	234,141			213,673
Goodwill	158,185			109,895
Intangible assets, net	64,809			36,079
Interest rate swap assets, long-term	4,417			0
Other assets	7,635			1,806
Total assets	831,161			743,498
Line of credit	146,732			87,351
Accounts payable	14,777			17,301
Accrued liabilities and other payables	33,138			25,078
Interest rate swap liabilities	977			0
Current maturities of long-term debt	21,200			22,964
Total current liabilities	216,824			152,694
Other long-term liabilities	8,740			2,767
Long-term debt, less current maturities	172,324			183,541
Interest rate swap liabilities, noncurrent	0			13,807
Deferred tax liability	29,965			16,752
Deferred gain	10,999			12,000
Total liabilities	438,852			381,561
Commitments and contingencies (Note 13)
Redeemable noncontrolling interest	1,684			1,682
Preferred stock, no par value, 2,000,000 shares authorized, and none issued and outstanding at March 31, 2022 and June 30, 2021.	0			0
Common stock, no par value, 200,000,000 shares authorized, 61,691,054 issued and 61,377,515 outstanding at March 31, 2022 and 60,461,611 issued and outstanding at June 30, 2021.	0			0
Additional paid-in capital	373,196			360,732
Treasury stock, at cost: 313,539 and zero shares held at March 31, 2022 at March 31, 2022 June 30, 2021, respectively	(2,833)			0
Retained earnings	20,880			0
Total Vintage Wine Estates, Inc. stockholders' equity	391,243			360,732
Noncontrolling interests	(618)			(477)
Total stockholders' equity	390,625	$ 371,578	$ 363,031	360,255	$ 123,304	$ 122,527	$ 113,150	$ 107,736
Total liabilities, redeemable noncontrolling interest, and stockholders' equity	831,161			$ 743,498
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cash	69,109
Restricted cash	6,600
Accounts receivable, net	39,649
Other receivables	13,668
Inventories	221,264
Interest rate swap assets	0
Prepaid expenses and other current assets	10,968
Total current assets	361,258
Property, plant, and equipment, net	234,141
Goodwill	158,185
Intangible assets, net	64,809
Interest rate swap assets, long-term	0
Other assets	7,635
Total assets	826,028
Line of credit	146,732
Accounts payable	14,777
Accrued liabilities and other payables	30,460
Interest rate swap liabilities	0
Current maturities of long-term debt	21,200
Total current liabilities	213,169
Other long-term liabilities	8,740
Long-term debt, less current maturities	172,324
Interest rate swap liabilities, noncurrent	5,225
Deferred tax liability	29,965
Deferred gain	10,999
Total liabilities	440,422
Redeemable noncontrolling interest	1,684
Preferred stock, no par value, 2,000,000 shares authorized, and none issued and outstanding at March 31, 2022 and June 30, 2021.	0
Common stock, no par value, 200,000,000 shares authorized, 61,691,054 issued and 61,377,515 outstanding at March 31, 2022 and 60,461,611 issued and outstanding at June 30, 2021.	0
Additional paid-in capital	373,196
Treasury stock, at cost: 313,539 and zero shares held at March 31, 2022 at March 31, 2022 June 30, 2021, respectively	(2,833)
Retained earnings	14,176
Total Vintage Wine Estates, Inc. stockholders' equity	384,539
Noncontrolling interests	(617)
Total stockholders' equity	383,922
Total liabilities, redeemable noncontrolling interest, and stockholders' equity	826,028
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Interest rate swap assets	716
Total current assets	716
Interest rate swap assets, long-term	4,417
Total assets	5,133
Accrued liabilities and other payables	2,678
Interest rate swap liabilities	977
Total current liabilities	3,655
Interest rate swap liabilities, noncurrent	(5,225)
Total liabilities	(1,570)
Retained earnings	6,704
Total Vintage Wine Estates, Inc. stockholders' equity	6,704
Noncontrolling interests	(1)
Total stockholders' equity	6,703
Total liabilities, redeemable noncontrolling interest, and stockholders' equity	$ 5,133

Restatement of Previously Iss_5

Restatement of Previously Issued Condensed Consolidated Financial - Balance Sheets (Parenthetical) (Details) - $ / shares	Mar. 31, 2022	Jun. 30, 2021
Accounting Changes and Error Corrections [Abstract]
Preferred stock, par value | $ / shares	$ 0	$ 0
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value | $ / shares	$ 0	$ 0
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	61,691,054	60,461,611
Common stock, shares outstanding	61,377,515	60,461,611
Repurchases of common stock	313,539	0

Restatement of Previously Iss_6

Restatement of Previously Issued Condensed Consolidated Financial - Statements of Operations and Comprehensive Income (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Net revenues
Net revenues	$ 78,933	$ 46,897	$ 218,231	$ 163,709
Cost of revenues
Cost of revenues	50,916	28,656	128,314	99,468
Gross profit	28,017	18,241	89,917	64,241
Selling, general, and administrative expenses	27,035	18,378	70,662	50,932
Loss (gain) on sale of property, plant, and equipment	98	(322)	(493)	(1,999)
Gain on litigation proceeds	0	0	0	4,750
Income from operations	884	184	19,748	20,058
Other income (expense)
Interest expense	(3,729)	(3,842)	(10,825)	(9,173)
Net unrealized gain on interest rate swap agreements	13,841	5,589	17,870	8,212
Other, net	1,957	327	1,945	684
Total other income (expense), net	12,069	2,075	8,990	(277)
Income before provision for income taxes	12,953	2,259	28,738	19,780
Income tax provision	3,543	1,633	7,997	4,517
Net income	9,410	626	20,741	15,263
Net income (loss) attributable to the noncontrolling interests	(74)	53	(139)	343
Net income attributable to Vintage Wine Estates, Inc.	9,484	573	20,880	14,920
Accretion on redeemable Series B stock	0	1,446	0	4,760
Net income (loss) allocable to common stockholders	$ 9,484	$ (873)	$ 20,880	$ 10,160
Net earnings (loss) per share allocable to common stockholders
Basic	$ 0.15	$ (0.04)	$ 0.34	$ 0.38
Diluted	$ 0.15	$ (0.04)	$ 0.34	$ 0.35
Weighted average shares used in the calculation of earnings per share allocable to common stockholders
Basic	61,410,403	21,920,583	60,773,258	21,920,583
Diluted	61,410,403	21,920,583	60,773,258	24,564,309
Wine, spirits and cider [Member]
Net revenues
Net revenues	$ 50,859	$ 37,238	$ 157,292	$ 132,086
Cost of revenues
Cost of revenues	38,764	23,561	98,428	82,180
Nonwine [Member]
Net revenues
Net revenues	28,074	9,659	60,939	31,623
Cost of revenues
Cost of revenues	12,152	$ 5,095	29,886	$ 17,288
As Previously Reported
Net revenues
Net revenues	78,933		218,231
Cost of revenues
Cost of revenues	50,916		128,314
Gross profit	28,017		89,917
Selling, general, and administrative expenses	27,035		70,662
Loss (gain) on sale of property, plant, and equipment	(98)		(493)
Gain on litigation proceeds	0		0
Income from operations	884		19,748
Other income (expense)
Interest expense	(3,729)		(10,825)
Net unrealized gain on interest rate swap agreements	4,553		8,582
Other, net	1,957		1,945
Total other income (expense), net	2,781		(298)
Income before provision for income taxes	3,665		19,450
Income tax provision	958		5,412
Net income	2,707		14,038
Net income (loss) attributable to the noncontrolling interests	(73)		(138)
Net income attributable to Vintage Wine Estates, Inc.	2,780		14,176
Accretion on redeemable Series B stock	0		0
Net income (loss) allocable to common stockholders	$ 2,780		$ 14,176
Net earnings (loss) per share allocable to common stockholders
Basic	$ 0.05		$ 0.23
Diluted	$ 0.05		$ 0.23
Weighted average shares used in the calculation of earnings per share allocable to common stockholders
Basic	61,410,403		60,773,258
Diluted	61,410,403		60,773,258
As Previously Reported | Wine, spirits and cider [Member]
Net revenues
Net revenues	$ 50,859		$ 157,292
Cost of revenues
Cost of revenues	38,764		98,428
As Previously Reported | Nonwine [Member]
Net revenues
Net revenues	28,074		60,939
Cost of revenues
Cost of revenues	12,152		29,886
Adjustments
Other income (expense)
Net unrealized gain on interest rate swap agreements	9,288		9,288
Total other income (expense), net	9,288		9,288
Income before provision for income taxes	9,288		9,288
Income tax provision	2,585		2,585
Net income	6,703		6,703
Net income (loss) attributable to the noncontrolling interests	(1)		(1)
Net income attributable to Vintage Wine Estates, Inc.	6,704		6,704
Net income (loss) allocable to common stockholders	$ 6,704		$ 6,704
Net earnings (loss) per share allocable to common stockholders
Basic	$ 0.10		$ 0.11
Diluted	$ 0.10		$ 0.11

Restatement of Previously Iss_7

Restatement of Previously Issued Condensed Consolidated Financial - Statements of Stockholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2021
BEGINNING BALANCE	$ 371,578	$ 363,031	$ 360,255	$ 122,527	$ 113,150	$ 107,736	$ 107,736
Redeemable Non-Controlling Interest Beginning Balance			1,682
Stock-based compensation expense	1,943			143	128	330
Issuance of Series A Stock in business combination	$ 10,521
Treasury Stock, Shares, Acquired	313,539						313,539
Treasury Stock, Value, Acquired, Cost Method	$ (2,833)
Net income (loss)	2,712	8,547	2,776	634	9,249	5,084
Redeemable Non-Controlling Interest Ending Balance	1,684
ENDING BALANCE	390,625	371,578	363,031	123,304	122,527	113,150	$ 123,304
As Previously Reported
Redeemable Non-Controlling Interest Ending Balance	1,684
ENDING BALANCE	383,922
Adjustments
Adjustments	6,704
ENDING BALANCE	6,703
Redeemable Non controlling Interests [Member]
Redeemable Non-Controlling Interest Beginning Balance	1,690	1,685	1,682	1,662	1,660	1,382	1,382
Temporary equity, Net income (loss)	(6)	5	3	(8)	2	278
Redeemable Non-Controlling Interest Ending Balance	$ 1,684	$ 1,690	$ 1,685	$ 1,654	$ 1,662	$ 1,660	$ 1,654
Common Stock [Member]
BEGINNING BALANCE (in Shares)	60,461,611	60,461,611	60,461,611	26,460,375	26,460,375	26,460,375	26,460,375
Issuance of Series A Stock in business combination, share	1,229,443
ENDING BALANCE (in Shares)	61,691,054	60,461,611	60,461,611	26,460,375	26,460,375	26,460,375	26,460,375
Treasury Stock [Member]
Treasury Stock, Shares, Acquired	313,539
Treasury Stock, Value, Acquired, Cost Method	$ (2,833)
ENDING BALANCE (in Shares)	313,539
ENDING BALANCE	$ (2,833)
Additional Paid-in Capital [Member]
BEGINNING BALANCE	360,732	$ 360,732	$ 360,732	$ 104,654	$ 99,150	$ 92,940	$ 92,940
Accretion on redeemable stock				(9,969)	(5,376)	(5,880)
Stock-based compensation expense	1,943			143	128	330
Issuance of Series A Stock in business combination	10,521
ENDING BALANCE	373,196	360,732	360,732	114,766	104,654	99,150	114,766
Retained Earnings [Member]
BEGINNING BALANCE	11,396	2,804		18,282	14,369	15,191	15,191
Accretion on redeemable stock				9,969	5,376	5,880
Net income (loss)	2,780	8,592	2,804	573	9,289	5,058
ENDING BALANCE	20,880	11,396	2,804	8,886	18,282	14,369	8,886
Retained Earnings [Member] | Adjustments
ENDING BALANCE	6,704
Noncontrolling Interest [Member]
BEGINNING BALANCE	(550)	(505)	(477)	(409)	(369)	(395)	(395)
Net income (loss)	(68)	(45)	(28)	61	(40)	26
ENDING BALANCE	$ (618)	$ (550)	$ (505)	$ (348)	$ (409)	$ (369)	$ (348)

Restatement of Previously Iss_8

Restatement of Previously Issued Condensed Consolidated Financial - Statements Of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income	$ 9,410	$ 626	$ 20,741	$ 15,263
Depreciation and amortization			17,365	7,732
Amortization of deferred loan fees and line of credit fees			296	357
Amortization of label design fees			668	251
Litigation proceeds			0	(4,750)
Stock-based compensation expense			1,943	601
Provision for doubtful accounts			45	87
Impairment of inventory			0	3,302
Net unrealized gain on interest rate swap agreements	(13,841)	(5,589)	(17,870)	(8,212)
(Benefit) provision for deferred income tax			888	0
Loss (gain) on disposition of assets			508	(999)
Deferred gain on sale leaseback			(1,000)	(1,000)
Deferred rent			285	376
Accounts receivable			(21,261)	(1,001)
Related party receivables			0	(2,038)
Other receivables			376	(2,338)
Litigation receivable			0	4,750
Inventories			4,244	(8,964)
Prepaid expenses and other current assets			(2,232)	(5,829)
Other assets			(6,215)	1,688
Accounts payable			(8,106)	616
Accrued liabilities and other payables			5,421	16,073
Related party liabilities			0	3,698
Net cash (used in) provided by operating activities			(3,903)	19,661
Proceeds from disposition of assets			105	1,064
Purchases of property, plant, and equipment			(15,723)	(30,688)
Label design expenditures			(225)	(375)
Proceeds on related party notes receivable			0	756
Acquisition of businesses			(74,268)	0
Net cash used in investing activities			(90,111)	(29,243)
Repurchase of common stock			(2,833)	0
Principal payments on line of credit			(67,210)	(25,195)
Proceeds from line of credit			126,591	32,281
Outstanding checks in excess of cash			2,900	9,277
Principal payments on long-term debt			(13,178)	(15,234)
Proceeds from long-term debt			0	8,902
Principal payments on related party note			0	(489)
Deferred offering costs			0	(768)
Payments on acquisition payable			(226)	(486)
Net cash provided by financing activities			46,044	8,287
Net change in cash and restricted cash			(47,970)	(1,295)
Cash and restricted cash, beginning of period			123,679	1,751
Cash and restricted cash, end of period	75,709	$ 456	75,709	456
Interest			9,415	9,230
Income taxes			22	25
Contingent consideration in a business combination			8,460	0
Issuance of common stock in business combination			10,521
Accretion of redemption value of Series B redeemable cumulative stock			0	4,760
Accretion of redemption value of Series A redeemable stock			0	16,466
Offering costs			0	$ 535
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income	2,707		14,038
Depreciation and amortization			17,365
Amortization of deferred loan fees and line of credit fees			296
Amortization of label design fees			668
Litigation proceeds			0
Stock-based compensation expense			1,943
Provision for doubtful accounts			45
Impairment of inventory			0
Net unrealized gain on interest rate swap agreements	(4,553)		(8,582)
(Benefit) provision for deferred income tax			888
Loss (gain) on disposition of assets			508
Deferred gain on sale leaseback			(1,000)
Deferred rent			285
Accounts receivable			(21,261)
Related party receivables			0
Other receivables			376
Litigation receivable			0
Inventories			4,244
Prepaid expenses and other current assets			(2,232)
Other assets			(6,215)
Accounts payable			(8,106)
Accrued liabilities and other payables			2,836
Related party liabilities			0
Net cash (used in) provided by operating activities			(3,903)
Proceeds from disposition of assets			105
Purchases of property, plant, and equipment			(15,723)
Label design expenditures			(225)
Proceeds on related party notes receivable			0
Acquisition of businesses			(74,268)
Net cash used in investing activities			(90,111)
Repurchase of common stock			(2,833)
Principal payments on line of credit			(67,210)
Proceeds from line of credit			126,591
Outstanding checks in excess of cash			2,900
Principal payments on long-term debt			(13,178)
Proceeds from long-term debt			0
Principal payments on related party note			0
Deferred offering costs			0
Payments on acquisition payable			(226)
Net cash provided by financing activities			46,044
Net change in cash and restricted cash			(47,970)
Cash and restricted cash, beginning of period			123,679
Cash and restricted cash, end of period	75,709		75,709
Interest			9,508
Income taxes			22
Contingent consideration in a business combination			8,460
Issuance of common stock in business combination			10,521
Accretion of redemption value of Series B redeemable cumulative stock			0
Accretion of redemption value of Series A redeemable stock			0
Offering costs			0
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income	6,703		6,703
Net unrealized gain on interest rate swap agreements	$ (9,288)		(9,288)
Accrued liabilities and other payables			$ 2,585

Merger and Reverse Recapitali_2

Merger and Reverse Recapitalization - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		9 Months Ended
	Jun. 07, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021
Business Acquisition [Line Items]
Earnout shares issued		0
Fair value of earn out shares		$ 32,400
Earn out shares, description		is at or above $15 (but below $20), 50% of the Earnout Shares will be issued; and
Additional earn out shares received				(5,726,864)
Preferred stock, shares authorized		2,000,000		2,000,000
Preferred stock, shares outstanding		0		0
Aggregate purchase price of common stock		$ 2,833	$ 0
Common stock, par value | $ / shares		$ 0		$ 0
Common stock, shares authorized		200,000,000		200,000,000
Common stock, shares issued		61,691,054		60,461,611
BCAC
Business Acquisition [Line Items]
Conversion of stock, shares	2.85708834472042
Warrants outstanding				26,000,000
Preferred stock, par value				$ 0
Preferred stock, shares authorized				2,000,000
Preferred stock, shares outstanding				0
Common stock, par value | $ / shares				$ 0
Common stock, shares authorized				200,000,000
Common stock, shares issued	26,828,256			60,461,611
Escrow share deposits	1,000,002
BCAC | Paycheck Protection Program
Business Acquisition [Line Items]
Escrow deposit				$ 6,600
BCAC | PIPE
Business Acquisition [Line Items]
Aggregate purchase price of common stock		$ 100,000
Sale of stock to subscribers		10,000,000
Sale of stock, price per share		$ 10
TGAM
Business Acquisition [Line Items]
Stock repurchased during period, shares	2,889,507
Stock repurchased during period, value	$ 32,000

Acquisitions - Schedule Of Summ

Acquisitions - Schedule Of Summary of allocation of Consideration For the Net Assets Acquired (Details) - USD ($) $ in Thousands	Jan. 18, 2022	Nov. 16, 2021	Oct. 04, 2021	Mar. 31, 2022	Jun. 30, 2021
Business Acquisition [Line Items]
Cash			$ 14,000
Goodwill				$ 158,185	$ 109,895
Vinesse, LLC
Business Acquisition [Line Items]
Cash			14,000
Accrued other			600
Contingent consideration			2,400
Fair value of consideration			17,000
Fixed assets			121
Inventory			2,502
Trademarks			1,200
Customer relationships			3,700
Deferred tax liability			(1,323)
Total identifiable assets acquired			6,200
Goodwill			$ 10,800
ACE Cider [Member]
Business Acquisition [Line Items]
Cash		$ 46,880
Accrued other		60
Contingent consideration		500
Fair value of consideration		47,440
Fixed assets		4,205
Inventory		1,350
Trademarks		6,600
Customer relationships		14,300
Deferred tax liability		(6,531)
Total identifiable assets acquired		19,924
Goodwill		$ 27,516
Meier's Wine Cellars, Inc
Business Acquisition [Line Items]
Cash	$ 12,500
Shares of common stock	10,521
Contingent consideration	4,900
Settlement of pre-existing relationship	(125)
Fair value of consideration	27,796
Accounts receivable	3,669
Fixed assets	11,358
Inventory	4,280
Other assets	356
Trademarks	600
Customer relationships	5,600
Accounts payable and accrued expenses	(2,682)
Deferred tax liability	(5,359)
Total identifiable assets acquired	17,822
Goodwill	$ 9,974

Acquisitions - Schedule Of Busi

Acquisitions - Schedule Of Business Acquisition Pro Forma Information (Details) - Vinesse and ACE Cider - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Business Acquisition [Line Items]
Total pro forma revenues	$ 78,933	$ 59,057	$ 241,381	$ 204,102
Pro forma net income (loss)	$ 9,410	$ 2,303	$ 21,619	$ 21,174

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) $ in Thousands					9 Months Ended
	Feb. 14, 2022 USD ($)	Jan. 18, 2022 USD ($) Rate	Nov. 16, 2021 USD ($) Rate	Oct. 04, 2021 USD ($) Rate	Mar. 31, 2022 USD ($) Rate shares	Dec. 31, 2021 Rate	Jun. 30, 2021 USD ($) shares	Jan. 18, 2021 USD ($) shares
Business Acquisition [Line Items]
Purchase consideration	$ 300		$ 47,400	$ 17,000
Cash payment to acquire buiness				14,000
Common stock, shares issued | shares					61,691,054		60,461,611
Common stock, value					$ 0		$ 0
Consulting fees				200
Aggregate consulting fee				600
Earnout payable				$ 2,400
Business acquisition, Pro forma revenue			18,400
Vinesse and ACE Cider
Business Acquisition [Line Items]
Increase In Business Acquisition Pro Forma Revenue			$ 700
ACE Cider
Business Acquisition [Line Items]
Effective date of acquisition			Nov. 16, 2021
Cash payment to acquire buiness			$ 46,880
Vinesse, LLC [Member]
Business Acquisition [Line Items]
Business acquisition description				On October 4, 2021, the Company acquired 100% of the members' interest in Vinesse, LLC, a California limited liability company ("Vinesse"). Vinesse is a direct-to-consumer platform company that specializes in wine clubs with over 60,000 members.
Cash payment to acquire buiness				$ 14,000
Meier's Wine Cellars, Inc
Business Acquisition [Line Items]
Business acquisition description		On January 18, 2022, the Company acquired 100% of the capital stock in Meier's Wine Cellars, Inc., DBA Meier's Beverage Group, an Ohio company ("Meier's").
Effective date of acquisition		Jan. 18, 2022
Purchase consideration		$ 25,000
Cash payment to acquire buiness		12,500
Common stock, shares issued | shares								1,229,443
Common stock, value		12,500
Business combination additional contingent consideration payable								$ 10,000
Working capital adjustment to purchase price					$ 5,300
Business combination, Acquired receivable, Fair value		12,000
Discount for shares of common stock		1,500
Shares of common stock valued		10,500
Contingent consideration in fair value earnout payments		$ 4,900
Measurement Input Royalty Rate Member | ACE Cider
Business Acquisition [Line Items]
Key assumption rate | Rate			3
Measurement Input Royalty Rate Member | Vinesse, LLC [Member]
Business Acquisition [Line Items]
Percentage of ownership interest acquired				100%
Key assumption rate | Rate						1.8
Measurement Input Royalty Rate Member | Meier's Wine Cellars, Inc
Business Acquisition [Line Items]
Percentage of ownership interest acquired		100%
Key assumption rate | Rate		1.1
Measurement Input Discount Rate Member
Business Acquisition [Line Items]
Key assumption rate					13.5
Measurement Input Discount Rate Member | ACE Cider
Business Acquisition [Line Items]
Key assumption rate | Rate					13
Measurement Input Discount Rate Member | Vinesse, LLC [Member]
Business Acquisition [Line Items]
Key assumption rate | Rate				17.5		18
Measurement Input Discount Rate Member | Meier's Wine Cellars, Inc
Business Acquisition [Line Items]
Key assumption rate | Rate		26			27

Inventory - Schedule of Invento

Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Jun. 30, 2021
Inventory [Line Items]
Inventories	$ 221,264	$ 221,145
Bulk Wine and Spirits
Inventory [Line Items]
Inventories	109,408	119,333
Bottled Wine and Spirits
Inventory [Line Items]
Inventories	89,808	90,083
Bottling and Packaging Supplies
Inventory [Line Items]
Inventories	20,526	10,482
Nonwine Inventory
Inventory [Line Items]
Inventories	$ 1,522	$ 1,247

Inventory - Additional Informat

Inventory - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Inventory Disclosure [Abstract]
Impairment of inventory	$ 0	$ 0	$ 0	$ 3,300

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Jun. 30, 2021
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 285,692	$ 254,507
Less accumulated depreciation and amortization	(64,591)	(52,791)
Property, Plant and Equipment, Net Before Construction and Development In Progress	221,101	201,716
Construction in progress	13,040	11,957
Property, Plant and Equipment, Net	234,141	213,673
Buildings and Improvements
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	140,241	129,288
Land
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	36,215	33,734
Machinery and Equipment
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	74,677	58,227
Cooperage
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	11,804	10,551
Vineyards
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	21,174	21,364
Furniture and equipment
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 1,581	$ 1,343

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 6	$ 2.7	$ 14.1	$ 8.1

Goodwill and Intangible Assets

Goodwill and Intangible Assets - Summary of Goodwill by Segment (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2022 USD ($)
Goodwill [Line Items]
Goodwill, Beginning Balance	$ 109,895
Goodwill, Ending Balance	158,185
ACE Cider [Member]
Goodwill [Line Items]
Goodwill acquired during period	27,516
Vinesse, LLC [Member]
Goodwill [Line Items]
Goodwill acquired during period	10,800
Meier's Wine Cellars, Inc
Goodwill [Line Items]
Goodwill acquired during period	9,974
Wholesale
Goodwill [Line Items]
Goodwill, Beginning Balance	88,808
Goodwill, Ending Balance	116,324
Wholesale | ACE Cider [Member]
Goodwill [Line Items]
Goodwill acquired during period	27,516
Direct to Consumer
Goodwill [Line Items]
Goodwill, Beginning Balance	20,342
Goodwill, Ending Balance	31,142
Direct to Consumer | Vinesse, LLC [Member]
Goodwill [Line Items]
Goodwill acquired during period	10,800
Business to Business
Goodwill [Line Items]
Goodwill, Beginning Balance	745
Goodwill, Ending Balance	10,719
Business to Business | Meier's Wine Cellars, Inc
Goodwill [Line Items]
Goodwill acquired during period	$ 9,974

Goodwill and Intangible asset_2

Goodwill and Intangible assets - Schedule of Components of Finite-Lived Intangible Assets, Accumulated Amortization, and Indefinite-Lived Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Total indefinite-life intangibles, Amount	$ 36,579	$ 29,979
Total definite-life intangibles, Gross Carrying Amount	31,700	6,300
Total definite-life intangibles, Accumulated Amortization	(3,470)	(200)
Total definite-life intangibles, Net Carrying Amount	28,230	6,100
Total other intangibles assets, Gross Carrying Amount	68,279	36,279
Total other intangibles assets, Accumulated Amortization	(3,470)	(200)
Total other intangibles assets, Net Carrying Amount	64,809	36,079
Customer and Sommerlier Relationships
Finite-Lived Intangible Assets [Line Items]
Total definite-life intangibles, Gross Carrying Amount	29,900	6,300
Total definite-life intangibles, Accumulated Amortization	(3,320)	(200)
Total definite-life intangibles, Net Carrying Amount	$ 26,580	$ 6,100
Weighted Average Remaining Amortization Period (in years)	4 years 8 months 12 days	4 years 8 months 12 days
Trade names and Trademarks
Finite-Lived Intangible Assets [Line Items]
Total indefinite-life intangibles, Amount	$ 29,829	$ 23,229
Total definite-life intangibles, Gross Carrying Amount	1,800
Total definite-life intangibles, Accumulated Amortization	(150)
Total definite-life intangibles, Net Carrying Amount	$ 1,650
Weighted Average Remaining Amortization Period (in years)	3 years 9 months 18 days
Winery Use Permits
Finite-Lived Intangible Assets [Line Items]
Total indefinite-life intangibles, Amount	$ 6,750	$ 6,750

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 158,185,000		$ 158,185,000		$ 109,895,000
Amortization expense	$ 1,700,000	$ 25,000	$ 3,300,000	$ 75,000

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Estimated Future Amortization Expense for Finite-Lived Intangible Assets (Detail) $ in Thousands	Mar. 31, 2022 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2022 remaining	$ 1,659
2023	6,637
2024	6,626
2025	5,106
Thereafter	8,202
Total estimated amortization expense	$ 28,230

Accrued Liabilities - Schedule

Accrued Liabilities - Schedule Of Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Jun. 30, 2021
Payables and Accruals [Abstract]
Accrued purchases	$ 11,616	$ 10,790
Accrued employee compensation	3,921	3,981
Other accrued expenses	9,857	6,754
Accrued interest expense	1,225	202
Contingent consideration	4,471	2,151
Unearned Income	418	1,200
Captive insurance liabilities	1,630	0
Total Accrued liabilities and other payables	$ 33,138	$ 25,078

Long-Term and Other Short-Ter_3

Long-Term and Other Short-Term Borrowings - Summary of Long-term and Other Short-term Obligations (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Jun. 30, 2021
Debt Instrument [Line Items]
Long term debt	$ 194,874	$ 208,052
Less current maturities	(21,200)	(22,964)
Less unamortized deferred financing costs	(1,350)	(1,547)
Long-term debt and lease obligation	172,324	183,541
January 2022 | Unsecured convertible promissory note
Debt Instrument [Line Items]
Long term debt	2,917	2,917
Dec 31 2021 | Unsecured convertible promissory note
Debt Instrument [Line Items]
Long term debt	0	5,834
Base Rate | Borrowings
Debt Instrument [Line Items]
Long term debt	41,853	45,084
Notes Payable to Bank | April 2023
Debt Instrument [Line Items]
Long term debt	768	1,227
Notes Payable to Bank | March 2024
Debt Instrument [Line Items]
Long term debt	1,419	1,876
Notes Payable to Bank | July 2024
Debt Instrument [Line Items]
Long term debt		37,892
Notes Payable to Bank | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Long term debt	77,858	81,055
Notes Payable to Bank | London Interbank Offered Rate (LIBOR) | July 2024
Debt Instrument [Line Items]
Long term debt	$ 67,142	$ 29,250

Long-Term and Other Short-Ter_4

Long-Term and Other Short-Term Borrowings - Summary of Long-term and Other Short-term Obligations (Parenthetical) (Details) - USD ($) $ in Thousands				1 Months Ended	3 Months Ended	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Jul. 26, 2021	Mar. 31, 2022	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2022	Jun. 30, 2021
January 2022 | Unsecured convertible promissory note
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							1%	1%
Dec 31 2021 | Unsecured convertible promissory note
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							1.06%
Borrowings | July 2026
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate								0.75%
Borrowings | London Interbank Offered Rate (LIBOR) | June 2021
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate					1.75%
Borrowings | London Interbank Offered Rate (LIBOR) | July 2026
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			(0.50%)
Borrowings | Base Rate | July 2026
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			1.75%					3.25%
Notes Payable to Bank | April 2023
Debt Instrument [Line Items]
Debt instrument, periodic payment								$ 60
Maturity period						2023-04
Fixed interest rate	3.60%			3.60%	3.60%		3.60%
Notes Payable to Bank | March 2024
Debt Instrument [Line Items]
Debt instrument, periodic payment								$ 61
Maturity period								2024-03
Fixed interest rate		2.75%				2.75%
Notes Payable to Bank | July 2024
Debt Instrument [Line Items]
Debt instrument, periodic payment							$ 1,260
Maturity period							2024-07
Debt instrument, basis spread on variable rate				(2.32%)			1.75%
Notes Payable to Bank | September 2026
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.75%
Notes Payable to Bank | London Interbank Offered Rate (LIBOR) | June 2021
Debt Instrument [Line Items]
Debt instrument, periodic payment		$ 1,077
Notes Payable to Bank | London Interbank Offered Rate (LIBOR) | July 2026
Debt Instrument [Line Items]
Debt instrument, periodic payment					$ 1,066
Notes Payable to Bank | London Interbank Offered Rate (LIBOR) | September 2026
Debt Instrument [Line Items]
Debt instrument, periodic payment	$ 1,180
Maturity period							2026-09
Debt instrument, basis spread on variable rate	(1.76%)
Notes Payable to Bank | Base Rate | July 2024
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							4%

Long-Term Debt and Other Short-

Long-Term Debt and Other Short-Term Borrowings - Schedule of Maturities of Long-term and Other Short-term Borrowings (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Jun. 30, 2021
Long-Term Debt, Unclassified [Abstract]
Remaining 2022	$ 9,585
2023	14,909
2024	14,152
2025	64,372
2026	8,571
2027	83,285
Long term debt	$ 194,874	$ 208,052

Long-Term Debt and Other Shor_2

Long-Term Debt and Other Short-Term Borrowings - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021
Debt Instrument [Line Items]
Common stock, shares issued	61,691,054		61,691,054		60,461,611
Accounts Receivable And Inventory Revolving Facility
Debt Instrument [Line Items]
Aggregate principal amount	$ 230,000,000		$ 230,000,000
Capital Expenditure Facility
Debt Instrument [Line Items]
Aggregate principal amount	$ 50,000,000		$ 50,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Debt Instrument, interest rate, effective percentage	3.10%	2.70%	3.10%	2.70%
Available amount under line of credit	$ 77,100,000		$ 77,100,000		$ 125,000,000
Term Loan
Debt Instrument [Line Items]
Aggregate principal amount	100,000,000		100,000,000
Amended And Restated Loan And Security Agreement | Minimum
Debt Instrument [Line Items]
Aggregate principal amount	350,000,000		350,000,000
Amended And Restated Loan And Security Agreement | Maximum
Debt Instrument [Line Items]
Aggregate principal amount	480,000,000		480,000,000
Delay Draw Term Loan Facility
Debt Instrument [Line Items]
Aggregate principal amount	100,000,000		100,000,000
Delay Draw Term Loan Facility | Maximum
Debt Instrument [Line Items]
Aggregate principal amount	50,000,000		50,000,000
Line of Credit
Debt Instrument [Line Items]
Amortization of deferred loan costs	$ 33,000	$ 111,800	$ 99,000	$ 335,700

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Fair Value Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Thousands		Mar. 31, 2022	Jun. 30, 2021
Assets:
Interest rate derivative	[1]	$ 5,133
Assets		56,709	$ 6,525
Liabilities:
Contingent consideration liabilities	[2]	12,205	4,631
Interest rate derivative	[1]	977	13,807
Liabilities		13,182	18,438
Fair Value, Inputs, Level 1
Assets:
Assets		51,576	6,525
Liabilities:
Contingent consideration liabilities	[2]	0	0
Interest rate derivative	[1]		0
Liabilities		0	0
Fair Value, Inputs, Level 2
Assets:
Interest rate derivative	[1]	5,133
Assets		5,133	0
Liabilities:
Contingent consideration liabilities	[2]	0	0
Interest rate derivative	[1]	977	13,807
Liabilities		977	13,807
Fair Value, Inputs, Level 3
Assets:
Assets		0	0
Liabilities:
Contingent consideration liabilities	[2]	12,205	4,631
Interest rate derivative	[1]		0
Liabilities		12,205	4,631
Money Market Funds
Assets:
Assets		51,576	6,525
Money Market Funds | Fair Value, Inputs, Level 1
Assets:
Assets		51,576	6,525
Money Market Funds | Fair Value, Inputs, Level 2
Assets:
Assets		0	0
Money Market Funds | Fair Value, Inputs, Level 3
Assets:
Assets		$ 0	$ 0
[1] (2) The fair value of interest rate swaps is estimated using a discounted cash flow analysis that considers the expected future cash flows of each interest rate swap. This analysis reflects the contractual terms of the interest rate swap, including the remaining period to maturity, and uses market-corroborated Level 2 inputs, including forward interest rate curves and implied interest rate volatilities. The fair value of an interest rate swap is estimated by discounting future fixed cash payments against the discounted expected variable cash receipts. The variable cash receipts are estimated based on an expectation of future interest rates derived from forward interest rate curves. The fair value of an interest rate swap also incorporates credit valuation adjustments to reflect the non-performance risk of the Company and the respective counterparty. (1) We assess the fair value of contingent consideration to be settled in cash related to acquisitions using probability weighted models for the various contractual earn-outs. These are Level 3 measurements. Significant unobservable inputs used in the estimated fair values of these contingent consideration liabilities include probabilities of achieving customer related performance targets, specified sales milestones, consulting milestones, changes in unresolved claims, projected revenue or changes in discount rates.

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Reconciliation of Liabilities Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3) (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2022	Jun. 30, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Less: current portion	$ (4,471)	$ (2,151)
Fair Value, Recurring | Fair Value, Inputs, Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Beginning Balance	4,631
Acquisitions	7,800
Payments	(226)
Ending Balance	12,205
Less: current portion	(4,471)
Long term portion	$ 7,734

Redeemable Stock and Redeemab_2

Redeemable Stock and Redeemable Noncontrolling Interest - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2021	Mar. 31, 2021
April 2018 Series A Redeemable Stock
Minority Interest [Line Items]
Dividend accretion	$ 3.9
Accreted deemed dividends		$ 2
July 2018 Issuance of Series A Redeemable Stock
Minority Interest [Line Items]
Dividend accretion	3.3	3.3
April 2018 Series B Redeemable Cumulative Series B Stock
Minority Interest [Line Items]
Unpaid cumulative dividend		5
Dividend accretion	1.4	4.8
Tamarack Cellars | January 2018 Series A Redeemable Stock
Minority Interest [Line Items]
Dividend accretion	$ 1.2	1.2
Put Option | April 2018 Series B Redeemable Cumulative Series B Stock
Minority Interest [Line Items]
Redemption value of preferred stock		$ 47.5

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Reserved Shares Stock on Converted Basis (Details) - Common Stock - shares	Mar. 31, 2022	Jun. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Reserved shares of stock for issuance	31,726,864	31,726,864
Warrants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Reserved shares of stock for issuance	26,000,000	26,000,000
Earnout Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Reserved shares of stock for issuance	5,726,864	5,726,864

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2022	Mar. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation	$ 1,943	$ 1,943
Employee Stock Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation	828	828
Restricted Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation	$ 1,115	$ 1,115

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2022	Mar. 31, 2022	Mar. 08, 2022	Jun. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock repurchased, Held in treasury	313,539	313,539		0
Stock Repurchase Program, Authorized Amount			$ 30
Treasury Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock repurchased, Held in treasury	313,539	313,539
Stock repurchased during period, value	$ 2.8
Employee Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares, Vested and Exercisable	0	0
Contractual life		10 years
Required Minimum Volume Weighted Average Price Per Common Stock For Exercise Of Vested Options	$ 12.50	$ 12.50
Weighted Average Grant Date Fair Value	$ 3.27	$ 3.27
Expected volatility		40%
Risk-free interest rate		1.80%
Unrecognized compensation expense to stock option	$ 7.1	$ 7.1
Weighted average period		3 years 3 months 18 days
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting Period		4 years
Weighted Average Grant Date Fair Value	$ 8.22	$ 8.22
Unrecognized compensation expense to stock option	$ 9.4	$ 9.4
Weighted average period	3 years 3 months 18 days

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Stock Options Activity (Details)	9 Months Ended
	Mar. 31, 2022 $ / shares shares
Share-Based Payment Arrangement [Abstract]
Stock Options, Granted | shares	2,675,651
Stock Options, Canceled and forfeited | shares	(25,600)
Stock Options, Ending Balance | shares	2,650,051
Weighted Average Exercise Price, Granted | $ / shares	$ 10.50
Weighted Average Exercise Price, Canceled and forfeited | $ / shares	10.50
Weighted Average Exercise Price, Ending Balance | $ / shares	$ 10.50

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) [Member]	9 Months Ended
	Mar. 31, 2022 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted | shares	1,398,526
Stock Option, Ending Balance | shares	1,398,526
Weighted average grant date fair value, Granted | $ / shares	$ 8.22
Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 8.22

Stockholders' Equity - Summar_3

Stockholders' Equity - Summary of Changes in Treasury Stock (Details) - shares	3 Months Ended	9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-Based Payment Arrangement [Abstract]
Repurchase of common stock	313,539	313,539
Ending balance	313,539	313,539

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Tax Credit Carryforward [Line Items]
Deferred income tax expense benefit			$ 888	$ 0
Federal income tax at the statutory rate	21%	21%	21%	21%

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Lessor, Lease, Description [Line Items]
Operating leases, rent expense	$ 2.9	$ 2.2		$ 5.7
Operating Leases, Rent Expense, Net			$ 1.3
Purchases under contract	$ 9.2	$ 11.5	$ 30.4	$ 30.4
Lease Agreements for Non-cancelable Operating Leases | Maximum
Lessor, Lease, Description [Line Items]
Lessor, operating lease, term of contract	15 years		15 years
Lease expiration			2031-11
Lease Agreements for Non-cancelable Operating Leases | Maximum | Two Lease Renewal Periods
Lessor, Lease, Description [Line Items]
Renewal terms	10 years		10 years
Lease Agreements for Non-cancelable Operating Leases | Maximum | Other Leases Renewal Periods
Lessor, Lease, Description [Line Items]
Renewal terms	5 years		5 years
Lease Agreements for Non-cancelable Operating Leases | Minimum
Lessor, Lease, Description [Line Items]
Lessor, operating lease, term of contract	2 years		2 years
Lease expiration date			Mar. 31, 2022
Lease Agreements for Non-cancelable Operating Leases | Minimum | Two Lease Renewal Periods
Lessor, Lease, Description [Line Items]
Renewal terms	5 years		5 years

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Mar. 31, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remaining 2022	$ 1,978
2023	6,453
2024	6,551
2025	6,252
2026	5,834
2027 and thereafter	17,610
Total lease payments	$ 44,678

Commitments and Contingencies_4

Commitments and Contingencies - Schedule of Purchase Commitments (Details) $ in Thousands	Mar. 31, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remaining 2022	$ 21,015
2023	13,594
2024	6,301
2025	3,553
2026	353
Purchase Obligation	$ 44,816

Segments - Summary of Revenue b

Segments - Summary of Revenue by Segment and Region (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Net revenues	$ 78,933	$ 46,897	$ 218,231	$ 163,709
Income (loss) from operations	884	184	19,748	20,058
Wholesale
Segment Reporting Information [Line Items]
Net revenues	24,549	21,092	62,923	55,399
Income (loss) from operations	3,270	6,138	12,654	14,760
Direct to Consumer
Segment Reporting Information [Line Items]
Net revenues	19,595	14,675	69,316	48,650
Income (loss) from operations	916	1,986	14,834	9,997
Business to Business
Segment Reporting Information [Line Items]
Net revenues	33,657	11,026	83,349	57,704
Income (loss) from operations	10,457	3,391	26,274	18,052
Corporate and Other
Segment Reporting Information [Line Items]
Net revenues	1,132	104	2,643	1,956
Income (loss) from operations	$ (13,759)	$ (11,331)	$ (34,014)	$ (22,751)

Segments - Summary of Revenue_2

Segments - Summary of Revenue by Segment and Region Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Amortization expense	$ 1,700,000	$ 25,000	$ 3,300,000	$ 75,000
Direct to Consumer
Segment Reporting Information [Line Items]
Depreciation expense recognized for assets	300,000	400,000	800,000	1,100,000
Amortization expense	$ 600,000	$ 25,000	$ 2,000,000	$ 75,000

Earning Per Share - Computation

Earning Per Share - Computation of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Net income	$ 9,410	$ 626	$ 20,741	$ 15,263
Less: Series B dividends and accretion	0	1,446	0	4,760
Less: (loss) income allocable to noncontrolling interest	(74)	53	(139)	343
Net income (loss) allocable to common shareholders	9,484	(873)	20,880	10,160
Numerator- Basic EPS
Less: net income allocated to participating securities (Series B)	0	0	0	1,752
Net income (loss) allocated to common shareholders	9,484	(873)	20,880	8,408
Numerator- Diluted EPS
Add: net income attributable to convertible debt	0	0	0	147
Reallocation of Income (loss) Under the two-Class Method	0	0	0	44
Net income (loss) allocated to common shareholders	$ 9,484	$ (873)	$ 20,880	$ 8,599
Weighted average common shares - Basic	61,410,403	21,920,583	60,773,258	21,920,583
Weighted average common shares - Diluted	61,410,403	21,920,583	60,773,258	24,564,309
Basic	$ 0.15	$ (0.04)	$ 0.34	$ 0.38
Diluted	$ 0.15	$ (0.04)	$ 0.34	$ 0.35
Convertible Debt
Numerator- Diluted EPS
Effect of dilutive securities	0	0	0	2,237,000
Stock Options
Numerator- Diluted EPS
Effect of dilutive securities	0	0	0	406,000

Earning Per Share - Antidilutiv

Earning Per Share - Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities	28,650,051	816,868	28,650,051	277,700
Warrants
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities	26,000,000	0	26,000,000	0
Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities	2,650,051	816,868	2,650,051	277,700

Related Party Transactions - Sc

Related Party Transactions - Schedule of Components of The Related Party Receivables and Related Party Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Related Party Transaction [Line Items]
Net revenues	$ 78,933	$ 46,897	$ 218,231	$ 163,709
Warehousing and Fulfillment Services
Related Party Transaction [Line Items]
Net revenues	0	166	0	715
Storage and Bottling of Alcoholic Beverages
Related Party Transaction [Line Items]
Net revenues	0	29	0	50
Management Fees
Related Party Transaction [Line Items]
Net revenues	0	115	0	388
Marketing and distribution
Related Party Transaction [Line Items]
Net revenues		1,625		1,625
Concourse Warehouse Lease
Related Party Transaction [Line Items]
Expenses	0	0	0	241
Swanson Lease
Related Party Transaction [Line Items]
Expenses	0	163	0	516
ZR Waverly Lease
Related Party Transaction [Line Items]
Expenses	$ 0	$ 0	$ 0	$ 66

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details)		1 Months Ended	3 Months Ended			9 Months Ended			12 Months Ended
	Oct. 04, 2021 USD ($)	Dec. 31, 2020 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Mar. 31, 2020 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Mar. 31, 2020 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2021 ft²
Related Party Transaction [Line Items]
Revenue from related parties						$ 0	$ 715,400		$ 0
Related party, management fees			$ 0	$ 114,500		0	388,100
Amount collected on related party's			0			0			$ 0
Related party transaction, amounts of transaction			0	28,900		0	49,600
Other expenses			90,100	69,100		286,500	249,900
Payments related to sponsorship and marketing services			87,000	87,500		279,000	225,000
Operating leases, rent expense			2,900,000	2,200,000			5,700,000
Cash	$ 14,000,000
Purchases under contract			$ 9,200,000	11,500,000		$ 30,400,000	30,400,000
Kunde
Related Party Transaction [Line Items]
Revenue from related parties				0	$ 1,600		0	$ 1,600
Concourse Warehouse Lease
Related Party Transaction [Line Items]
Operating leases, rent expense				0			241,300
Swanson Lease
Related Party Transaction [Line Items]
Operating leases, rent expense				163,600			516,600
ZR Waverly Lease
Related Party Transaction [Line Items]
Operating leases, rent expense				0			$ 65,800
Payment to purchase leased property		$ 1,500,000
Lease Agreements for Non-cancelable Operating Leases | Minimum
Related Party Transaction [Line Items]
Lessor, operating lease, term of contract			2 years			2 years
Lease expiration date						Mar. 31, 2022
Lease Agreements for Non-cancelable Operating Leases | Minimum | Two Lease Renewal Periods
Related Party Transaction [Line Items]
Renewal terms			5 years			5 years
Lease Agreements for Non-cancelable Operating Leases | Maximum
Related Party Transaction [Line Items]
Lessor, operating lease, term of contract			15 years			15 years
Lease expiration						2031-11
Lease Agreements for Non-cancelable Operating Leases | Maximum | Two Lease Renewal Periods
Related Party Transaction [Line Items]
Renewal terms			10 years			10 years
Lease Agreements for Non-cancelable Operating Leases | Maximum | Other Leases Renewal Periods
Related Party Transaction [Line Items]
Renewal terms			5 years			5 years
Office Building | Concourse Warehouse Lease
Related Party Transaction [Line Items]
Land subject to ground leases | ft²										15,000
Warehouse
Related Party Transaction [Line Items]
Revenue from related parties			$ 0	$ 166,300
Warehouse | Concourse Warehouse Lease
Related Party Transaction [Line Items]
Land subject to ground leases | ft²										80,000
Warehousing and Fulfillment Services
Related Party Transaction [Line Items]
Revenue from related parties						$ 0