Vintage Wine Estates (VWESQ) 10-Q/A 13 Oct 23 2023 Q1 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2022	Oct. 04, 2023
Document Information [Line Items]
Document Type	10-Q/A
Document Quarterly Report	true
Amendment Flag	true
Amendment Description	Vintage Wine Estates, Inc. (the “Company”) is filing this Amendment No. 2 on Form 10-Q/A for the quarter ended September 30, 2022 (this “Form 10-Q/A”).This Form 10-Q/A amends the Company’s Quarterly Report on Form 10-Q/A for the quarterly period ended September 30, 2022, as filed with the Securities and Exchange Commission (“SEC”) on May 10, 2023 (the “Previous Filing”). This Form 10-Q/A is being filed to restate the Company’s unaudited condensed consolidated financial statements for the three months ended September 30, 2022. The restatement reflects the correction of an error related to the treatment of a deferred gain as part of the implementation of ASC 842, Leases. This adjustment was evaluated by management in accordance with SEC Staff Accounting Bulletin Topic 1M, "Materiality," and SEC Staff Accounting Bulletin Topic 1N, "Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in the Current Year Financial Statements," and management determined the effects of the restatement to be material. In light of the restatement, the Company is also correcting and/or reclassifying certain immaterial out-of-period items and other adjustments in all periods presented. See Note 2 to the unaudited condensed consolidated financial statements included in this Form 10-Q/A for further information regarding the restatement and reclassifications.
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
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	Accelerated Filer
Entity Common Stock, Shares Outstanding		59,565,790
Entity Shell Company	false
Entity Small Business	false
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 ($)	Sep. 30, 2022	Jun. 30, 2022
Current assets:
Cash and cash equivalents	$ 45,920,000	$ 44,758,000
Restricted cash	0	4,800,000
Accounts receivable, net	38,424,000	37,869,000
Other receivables	3,874,000	3,866,000
Inventories	199,672,000	192,922,000
Assets held for sale	13,221,000	0
Current interest rate swap asset	5,826,000	2,877,000
Prepaid expenses and other current assets	9,478,000	11,864,000
Total current assets	316,415,000	298,956,000
Property, plant, and equipment, net	224,466,000	238,719,000
Operating lease right-of-use assets	35,509,000	0
Finance lease right-of-use-assets	689,000	0
Goodwill	154,951,000	154,951,000
Intangible assets, net	61,391,000	63,097,000
Interest rate swap asset	12,555,000	6,280,000
Other assets	5,187,000	3,464,000
Total assets	811,163,000	765,467,000
Current liabilities
Line of credit	140,066,000	144,215,000
Accounts payable	21,650,000	13,473,000
Accrued liabilities and other payables	28,711,000	26,997,000
Current operating lease liabilities	5,197,000	0
Current finance lease liabilities	263,000	0
Current maturities of long-term debt	14,738,000	14,909,000
Total current liabilities	210,625,000	199,594,000
Other long-term liabilities	6,315,000	7,055,000
Long-term debt, less current maturities	165,577,000	169,095,000
Long-term operating lease liabilities	31,637,000	0
Long-term finance lease liabilities	429,000	0
Deferred tax liability	34,536,000	29,325,000
Deferred gain	0	10,666,000
Total liabilities	449,119,000	415,735,000
Commitments and contingencies (Note 14)
Redeemable noncontrolling interest	1,282,000	1,494,000
Stockholders' equity
Preferred stock, no par value, 2,000,000 shares authorized, and none issued and outstanding at September 30, 2022 and June 30, 2022.	0	0
Common stock, no par value, 200,000,000 shares authorized, 61,691,054 issued and 58,819,160 outstanding at September 30, 2022 and June 30, 2022.	0	0
Additional paid-in capital	379,367,000	376,099,000
Treasury stock, at cost: 2,871,894 shares held at September 30, 2022 and June 30, 2022, respectively.	(26,034,000)	(26,034,000)
Accumulated deficit (retained earnings)	8,192,000	(1,092,000)
Total Vintage Wine Estates, Inc. stockholders' equity	361,525,000	348,973,000
Noncontrolling interests	(763,000)	(735,000)
Total stockholders' equity	360,762,000	348,238,000
Total liabilities, redeemable noncontrolling interest, and stockholders' equity	$ 811,163,000	$ 765,467,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2022	Jun. 30, 2022
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	61,691,054
Common stock, shares outstanding	58,819,160	58,819,160
Repurchases of common stock	2,871,894	2,871,894

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Net revenues
Net revenue	$ 78,080	$ 56,035
Cost of revenue
Cost of revenue	48,550	35,382
Gross profit	29,530	20,653
Selling, general, and administrative expenses	31,449	16,978
Amortization expense	1,811	651
Loss on remeasurement of contingent liability	185	155
Gain on litigation proceeds	(530)	0
Gain on sale leaseback	0	(334)
Loss (gain) on sale of property, plant, and equipment	0	(6)
(Loss) income from operations	(3,385)	3,209
Other income (expense)
Interest expense	(3,381)	(3,603)
Net unrealized gain on interest rate swap agreements	9,327	1,572
Other, net	271	39
Total other income (expense), net	6,217	(1,992)
Income before provision for income taxes	2,832	1,217
Income tax provision	1,474	449
Net (loss) income	1,358	768
Net loss attributable to the noncontrolling interests	(174)	(25)
Net (loss) income attributable to Vintage Wine Estates, Inc.	1,532	793
Accretion on redeemable Series B stock	0	0
Net (loss) income allocable to common stockholders	$ 1,532	$ 793
Net earnings per share allocable to common stockholders
Basic	$ 0.03	$ 0.01
Diluted	$ 0.03	$ 0.01
Weighted average shares used in the calculation of earnings per share allocable to common stockholders
Basic	58,819,160	60,461,611
Diluted	58,819,160	60,461,611
Wine, spirits and cider
Net revenues
Net revenue	$ 52,270	$ 36,635
Cost of revenue
Cost of revenue	33,021	23,720
Nonwine
Net revenues
Net revenue	25,810	19,400
Cost of revenue
Cost of revenue	$ 15,529	$ 11,662

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-In Capital	Accumulated Deficit	Non-Controlling Interests	Redeemable Non controlling Interest
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
Net Income Loss Adjusted Amount	(836)				$ (667)	(169)
Temporary equity, Net income (loss)							3
Net income (loss)	765				793	(28)
Redeemable Non-Controlling Interest Ending Balance at Sep. 30, 2021							1,685
ENDING BALANCE at Sep. 30, 2021	360,184			360,732	126	(674)
ENDING BALANCE (in Shares) at Sep. 30, 2021		60,461,611
BEGINNING BALANCE at Jun. 30, 2022	348,238		$ (26,034)	376,099	(1,092)	(735)
BEGINNING BALANCE (in Shares) at Jun. 30, 2022		61,691,054	2,871,894
Redeemable Non-Controlling Interest Beginning Balance at Jun. 30, 2022	1,494						1,494
Stock-based compensation expense	3,440			3,440
Repurchase of public warrants	(172)			(172)
Shareholder distribution							66
Temporary equity, Net income (loss)							(146)
Adoption of ASC 842	7,752				7,752
Net income (loss)	1,504				1,532	(28)
Redeemable Non-Controlling Interest Ending Balance at Sep. 30, 2022	1,282						$ 1,282
ENDING BALANCE at Sep. 30, 2022	$ 360,762		$ (26,034)	$ 379,367	$ 8,192	$ (763)
ENDING BALANCE (in Shares) at Sep. 30, 2022		61,691,054	2,871,894

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities
Net income	$ 1,358	$ 768
Adjustments to reconcile net income to net cash from operating activities:
Depreciation	3,996	1,502
Non-cash operating lease expense	37	0
Amortization expense	1,880	651
Amortization of deferred loan fees and line of credit fees	98	99
Remeasurement of contingent consideration liabilities	185	155
Stock-based compensation expense	3,440	0
Provision for doubtful accounts	(8)	(15)
Net unrealized gain on interest rate swap agreements	(9,327)	(1,572)
(Benefit) provision for deferred income tax	2,296	(1,059)
(Gain) loss on disposition of assets	0	(6)
Deferred gain on sale leaseback	0	(334)
Deferred rent	0	128
Change in operating assets and liabilities (net of effect of business combinations):
Accounts receivable	(547)	863
Other receivables	(8)	(2,850)
Inventories	(6,953)	(444)
Prepaid expenses and other current assets	2,388	884
Other assets	(1,861)	57
Accounts payable	2,103	(3,071)
Accrued liabilities and other payables	3,702	3,060
Net change in lease assets and liabilities	(791)	0
Other	0	(836)
Net cash provided by (used in) operating activities	1,988	(2,020)
Cash flows from investing activities
Proceeds from disposition of assets	0	6
Purchases of property, plant, and equipment	(3,454)	(7,792)
Net cash used in investing activities	(3,454)	(7,786)
Cash flows from financing activities
Principal payments on line of credit	(34,466)	(6,304)
Proceeds from line of credit	30,317	17,675
Outstanding checks in excess of cash	6,074	387
Principal payments on long-term debt	(3,753)	(2,482)
Principal payments on finance leases	(67)	0
Distributions to noncontrolling interest	(66)	0
Repurchase of public warrants	(172)	0
Payments on acquisition payable	(39)	(74)
Net cash (used in) provided by financing activities	(2,172)	9,202
Net change in cash, cash equivalents and restricted cash	(3,638)	(604)
Cash, cash equivalents and restricted cash, beginning of period	49,558	123,679
Cash, cash equivalents and restricted cash, end of period	45,920	123,075
Cash paid during the period for:
Interest	3,187	2,603
Income taxes	0	0
Noncash investing and financing activities:
Increase in operating lease assets and liabilities upon adoption of ASC 842	36,776	0
Increase in finance lease assets and liabilities upon adoption of ASC 842	$ 67	$ 0

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	1 . Basis of Presentation and Si gnificant Accounting Policies (as restated) 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 September 30, 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 2023 and 2022 in these condensed consolidated financial statements are to the fiscal years ending or ended June 30, 2023 and June 30, 2022, 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. Inflation and supply chain constraints, as well as the ongoing COVID-19 pandemic ("COVID-19"), continue to disrupt the U.S. and global economies and there remains uncertainty about the impact on the economy. We cannot estimate with any certainty the length or severity of the economic uncertainties or the related financial consequences on our business and operations, including whether and when historic economic and operating conditions will resume or the extent to which the disruption may impact our business, financial position, results of operations or cash flows. Management expects economic uncertainties including inflation and supply chain constraints to continue to impact several areas of the business including sales, cost of goods, operating expenses and cash flows. In the opinion of management, all adjustments necessary for a fair presentation of the unaudited condensed consolidated financial statements have been included in this Form 10-Q/A. 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 2023 interim period are not necessarily indicative of the results that may be expected for the full fiscal year ending June 30, 2023 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, 2023, filed with the SEC on October 13, 2023. The June 30, 2022 condensed consolidated balance sheet was derived from the audited consolidated financial statements as of that date. 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, 2022. Except as noted below, there have been no material changes in the Company’s significant accounting policies during the three months ended September 30, 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 credit losses, 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, the estimated fair value of long-term debt, the valuation of interest rate swaps, contingent consideration, common stock, stock-based compensation, accounting for income taxes and net assets held for sale. Actual results could differ materially from those estimates. 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) September 30, 2022 June 30, 2022 As Restated Cash and cash equivalents $ 45,920 $ 44,758 Restricted cash - 4,800 Total cash, cash equivalents and restricted cash as shown in the consolidated statement of cash flows $ 45,920 $ 49,558 In connection with the amended and restated loan and security agreement (see Note 11), the Company entered into a Deposit Control Agreement which required $ 4.8 million of the total cash received to be placed into a restricted cash collateral account, subject to release upon the completion of certain construction work and certificates of occupancy associated with the Ray's Station production facility. In July 2022, the Deposit Control Agreement was terminated upon certification that the conditions to Ray's Station were satisfied. Accounts Receivable and Allowance for Credit Losses The Company adopted Accounting Standards Update ("ASU") ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) a nd its related amendments as of July 1, 2022, see “Recently Adopted Accounting Pronouncements” below. Accounts receivable are recorded at the invoiced amount. We consider an account past due on the first day following its due date. We monitor past due accounts periodically and establish appropriate reserves to cover expected losses, and consider historical experience, the current economic environment, customer credit ratings or bankruptcies and reasonable and supportable forecasts to develop our allowance for expected credit losses. We review these factors quarterly to determine if any adjustments are needed to the allowance. Account balances are written-off against the established allowance when we feel it is probable the receivable will not be recovered. The provision for credit losses for the periods ended September 30, 2022 and June 30, 2022, was $ 0.4 million. We do not accrue interest on past-due amounts. Bad debt expense was insignificant for all reporting periods presented. Other receivables include insurance related receivables, income tax receivable and other miscellaneous receivables. Disaggregation of Revenue The following table summarizes revenue by geographic region: Three Months Ended September 30, (in thousands) 2022 2021 As Restated Geographic regions: United States $ 77,543 $ 54,498 International 537 1,537 Total net revenue $ 78,080 $ 56,035 The following table provides a disaggregation of revenue based on the pattern of revenue recognition: Three Months Ended September 30, (in thousands) 2022 2021 As Restated Point in time $ 66,431 $ 47,170 Over a period of time 11,649 8,865 Total net revenue $ 78,080 $ 56,035 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 September 30, 2022 and June 30, 2022, we had $ 45.2 million and $ 49.0 million respectively, in major financial institutions 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 of: Three Months Ended September 30, 2022 2021 Revenue as a percent of total revenue Customer A 19.2 % 25.5 % Customer B * 12.6 % The following table summarizes customer concentration of: September 30, 2022 June 30, 2022 Receivables as a percent of total receivables Customer A 35.0 % 26.0 % Customer B * * * Customer revenue or receivables did not exceed 10% in the respective periods. Revenue for sales from Customer A are included within the Wholesale and Business-to-Business segments and Customer B are included within the Business-to-Business segment. Principal vs. Agent Considerations As part of our revenue recognition process, we evaluate whether we are the principal or agent for the performance obligations in our contracts with customers. When we determine that we are the principal for a performance obligation, we recognize revenue for that performance obligation on a gross basis. When we determine that we are an agent for a performance obligation, we recognize revenue for that performance obligation net of the related costs. In determining whether we are the principal or the agent, we evaluate whether we have control of the goods or services before we transfer the goods or services to the customer by considering whether we are primarily obligated for transferring the goods or services to the customer, whether we have inventory risk for the goods or services before the goods or services are transferred to the customer, and whether we have latitude in establishing prices. 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. Leases The Company adopted ASU 2016-02, Leases ("Topic 842") and its related amendments as of July 1, 2022, see “Recently Adopted Accounting Pronouncements” below. The Company has both operating leases and finance leases. The Company’s non-cancelable leases for winery facilities, vineyards, corporate and administrative offices, tasting rooms, and some equipment are classified as operating leases. The Company’s non-cancelable leases for certain equipment that include a bargain purchase option at the end of the lease term are classified as finance leases. The Company recognizes a right of use (“ROU”) asset representing its right to use the underlying asset for the lease term on the condensed consolidated balance sheet and related lease liabilities representing its obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Because the rate implicit in each lease is not readily determinable, the Company uses its incremental borrowing rate to determine the present value of the lease payments. The ROU asset also includes adjustments for lease incentives receivable, deferred rent and prepaid rent when applicable. The Company’s lease terms may include options to extend the lease when it is reasonably certain that the Company will exercise that option. The Company has made an accounting policy election not to recognize ROU assets and lease obligations for its short-term leases, which are defined as leases with an initial term of 12 months or less. However, the Company will recognize these lease payments in the condensed consolidated statements of operations and comprehensive income (loss) on a straight-line basis over the lease term and variable lease payments in the period in which the obligation is incurred. Lease expense for operating leases is recognized on a straight-line basis over the lease term. For finance leases, the right-of-use asset is amortized to amortization expense and interest expense is recorded in connection with the lease liability. Payments under lease arrangements are primarily fixed, however, most lease agreements also contain some variable payments. Variable lease payments other than those that depend on an index or a rate are expensed as incurred and not included in the operating lease ROU assets and lease liabilities. These amounts primarily include payments for taxes, parking and common area expenses. See Note 10. Assets Held for Sale The Company classifies an asset group (‘asset’) as held for sale in the period that (i) it has approved and committed to a plan to sell the asset, (ii) the asset is available for immediate sale in its present condition, (iii) an active program to locate a buyer and other actions required to sell the asset have been initiated, (iv) the sale of the asset is probable and transfer of the asset is expected to qualify for recognition as a completed sale within one year (subject to certain events or circumstances), (v) the asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value, and (vi) it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. The Company initially and subsequently measures a long-lived asset that is classified as held for sale at the lower of its carrying value or fair value less any costs to sell. Any loss resulting from this measurement is recognized in selling, general and administrative expenses in the period in which the held for sale criteria are met. Conversely, gains are generally not recognized on the sale of a long-lived asset until the date of sale. Upon designation as an asset held for sale, the Company stops recording depreciation or amortization expense on the asset. The Company assesses the fair value of assets held for sale less any costs to sell at each reporting period until the asset is no longer classified as held for sale. Casualty Gains We suffered smoke-tainted inventory damage resulting from the October 2017 Napa and Sonoma County wildfires. We filed an insurance claim for this damage, which was settled in fiscal 2021 for approximately $ 3.8 million, net of legal costs. In fiscal 2022, we received an additional $ 2.7 million, net of legal costs, related to wildfire claims. During the three months ended September 30, 2022, we received an additional $ 0.5 million. The gain on litigation proceeds consists of payments we received from our insurer. 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 Interim Chief Executive Officer, allocates resources and assesses performance based upon discrete financial information at the segment level. Earnings Per Share 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, 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 Company does not pay dividends or have participating shares outstanding. 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 February 2016, the FASB issued 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 the lease is effectively a financed purchase by the lessee. This classification determines 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 its classification. Leases with a term of 12 months or less are accounted for in the Company's consolidated statements of operations. The Company adopted Topic 842 effective July 1, 2022 using the modified retrospective approach, whereby we recognized a transition adjustment at the effective date of Topic 842, rather than at the beginning of the earliest comparative period presented. Prior period information was not restated. In addition, the Company applied the package of transition practical expedients, which allows the Company to carryforward its population of existing leases, the classification of each lease and the treatment of initial direct costs as of the period of adoption. The Company did not elect the practical expedient related to hindsight analysis which allows a lessee to use hindsight in determining the lease term and in assessing impairment of the entity’s ROU assets. The Company identified the population of real estate and equipment leases to which the guidance applies and implemented changes in its systems, procedures and controls relating to how lease information is obtained, processed and analyzed. In connection with the restatement, the Company has reclassified the deferred gain related to a previous sale and leaseback of $ 7.8 million, net of taxes of $ 2.9 million, to retained earnings. Refer to Note 2. Further, the Company recognized $ 37.6 million in ROU assets that represent the Company's right to use the underlying assets for the lease term and $ 39.2 million in lease obligations that represent the Company's obligation to make lease payments arising from the lease. The ROU assets recognized upon adoption of Topic 842, included the reclassification of approximately $ 2.1 million of deferred rent and $ 0.4 million of prepaid rent. See Note 10. 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 Company adopted ASU No. 2016-13, as amended effective July 1, 2022. We consider historical experience, the current economic environment, customer credit ratings or bankruptcies, and reasonable and supportable forecasts to develop our allowance for credit losses. We review these factors quarterly to determine if any adjustments are needed to the allowance. This guidance did not have a material impact on our condensed consolidated financial statements. Recently Issued Accounting Pronouncements The recently issued accounting pronouncements are not expected to have an impact on the Company.

Restatement, Reclassification a

Restatement, Reclassification and Revision of Previously Issued Condensed Consolidated Financial Statements	3 Months Ended
	Sep. 30, 2022
Accounting Changes and Error Corrections [Abstract]
Restatement, Reclassification and Revision of Previously Issued Condensed Consolidated Financial Statements	2. Restatement, Reclassification and Revision of Previously Issued Condensed Consolidated Financial Statements The Company has restated its unaudited condensed consolidated financial statements as of and for the three months ended September 30, 2022. An error was discovered during the process of closing the fiscal year ended June 30, 2023 and in conjunction with the year-end audit. The error was related to the treatment of a deferred gain as part of the implementation of ASC 842, Leases ("ASC 842"). In light of the restatement, the Company is also correcting and/or reclassifying certain immaterial out-of-period items and other adjustments in all periods presented, which include but are not limited to those related to the determination of the service period used in the recognition of stock-based compensation expense and classification of assets as part of the historical purchase price allocations for certain business combinations. Certain prior year amounts have been reclassified for consistency with the current year presentation. In addition, our beginning retained earnings decreased by $ 0.7 million, net of a tax benefit of $ 0.3 million, as a consequence of the impact of those identified immaterial errors to periods prior to July 1, 2021. Regarding our previously reported unaudited condensed consolidated balance sheet as of September 30, 2022, the following table presents the adjustment of $ 10.7 million deferred gain arising from a prior-year sale leaseback transaction that should have been recognized as a cumulative-effect adjustment to retained earnings as part of the implementation of ASC 842 , offset by previously recognized amortization for the quarter ended September 30, 2022 of $ 0.3 million. In addition, the Company is adjusting for certain immaterial out-of-period items, reclassifications and other adjustments including but not limited to: (i) $ 1.3 million reclassification between cash and cash equivalents and accounts payable for classification of outstanding checks; (ii) $ 1.0 million adjustment to inventories due to incorrect inventory turns used to calculate overhead absorption on custom production; (iii) $ 2.9 million adjustment to property, plant and equipment, net due to overstatement of depreciation expense arising from the incorrect classification of assets as part of historical purchase price allocations; (iv) $ 1.3 million adjustment to intangible assets, net due to impairment recognized in 2022; (v) $ 2.3 million adjustment to deferred tax liability due to tax impact of adjustments; (vi) $ 3.0 million adjustment to additional paid-in capital due to overstatement of stock-based compensation expense arising from an incorrect service period used in expense recognition; and (vii) $ 11.8 million adjustment to retained earnings related to the $ 7.8 million reclass, net of taxes of $ 2.9 million, from deferred gain noted above, $ 1.8 million current period change in net income as well as prior year increase in accumulated deficit of $ 0.7 million, net of a tax benefit of $ 0.3 million, primarily due to a non-recurring adjustment for historical acquisitions of $ 1.6 million, offset by $ 0.9 million for adjustment to property, plant and equipment, net due to overstatement of depreciation expense. CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited) September 30, 2022 (in thousands) As Previously Reported Adjustments As Restated Assets Current assets: Cash and cash equivalents $ 44,622 $ 1,298 $ 45,920 Inventories 200,759 ( 1,087 ) 199,672 Assets held for sale 6,553 6,668 13,221 Total current assets 309,536 6,879 316,415 Property, plant, and equipment, net 228,204 ( 3,738 ) 224,466 Intangible assets, net 62,672 ( 1,281 ) 61,391 Total assets $ 809,303 $ 1,860 $ 811,163 Liabilities, redeemable noncontrolling interest, and stockholders' equity Current liabilities: Accounts payable $ 20,352 $ 1,298 $ 21,650 Accrued liabilities and other payables 28,279 432 28,711 Total current liabilities 208,895 1,730 210,625 Deferred tax liability 29,952 4,584 34,536 Deferred gain 10,332 ( 10,332 ) - Total liabilities 453,137 ( 4,018 ) 449,119 Stockholders' equity: Additional paid-in capital 382,376 ( 3,009 ) 379,367 Accumulated deficit (retained earnings) ( 864 ) 9,056 8,192 Total Vintage Wine Estates, Inc. stockholders' equity 355,478 6,047 361,525 Noncontrolling interests ( 594 ) ( 169 ) ( 763 ) Total stockholders' equity 354,884 5,878 360,762 Total liabilities, redeemable noncontrolling interest, and stockholders' equity $ 809,303 $ 1,860 $ 811,163 Regarding the previously reported unaudited condensed consolidated statement of operations for the three months ended September 30, 2022, the following table presents the impact of the restatement of $ 0.3 million amortization, adjusted through gain on sale leaseback, of a deferred gain of $ 10.7 million arising from a prior-year sale leaseback transaction that should have been recognized as a cumulative-effect adjustment to equity as part of the implementation of ASC 842 . In addition, the Company is adjusting for certain immaterial out-of-period items, reclassifications and other adjustments including but not limited to: (i) $ 1.2 million adjustment to cost of revenue due to out-of-period items related primarily to a non-recurring adjustment related to insurance due to the formation of VWE Captive, LLC; (ii) $ 1.6 million adjustment to selling, general and administrative expense due to a non-recurring adjustment for historical acquisitions; and (iii) $ 1.2 million adjustment to selling, general and administrative expense due to an overstatement of stock-based compensation expense arising from an incorrect service period used in expense recognition. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) Three Months Ended September 30, 2022 (in thousands, except share and per share amounts) As Previously Reported Adjustments As Restated Net revenue Wine, spirits and cider $ 51,419 $ 851 $ 52,270 Total net revenue 77,229 851 78,080 Cost of revenue Wine, spirits and cider 34,631 ( 1,610 ) 33,021 Nonwine 14,938 591 15,529 Total cost of revenue 49,569 ( 1,019 ) 48,550 Gross profit 27,660 1,870 29,530 Selling, general, and administrative expenses 33,707 ( 2,258 ) 31,449 Loss on remeasurement of contingent liability 826 ( 641 ) 185 Gain on sale leaseback ( 334 ) 334 - Gain on sale of property, plant, and equipment ( 118 ) 118 - Loss from operations ( 7,702 ) 4,317 ( 3,385 ) (Loss) income before provision for income taxes ( 1,485 ) 4,317 2,832 Income tax provision ( 849 ) 2,323 1,474 Net (loss) income ( 636 ) 1,994 1,358 Net loss attributable to the noncontrolling interests ( 343 ) 169 ( 174 ) Net (loss) income attributable to Vintage Wine Estates, Inc. ( 293 ) 1,825 1,532 Net (loss) income allocable to common stockholders $ ( 293 ) $ 1,825 $ 1,532 Net earnings (loss) per share allocable to common stockholders Basic $ ( 0.00 ) $ 0.03 $ 0.03 Diluted $ ( 0.00 ) $ 0.03 $ 0.03 The following table presents the impact of the adjustments and reclassifications discussed above on the unaudited condensed consolidated cash flow statement for the three months ending September 30, 2022: CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Three Months Ended September 30, 2022 (in thousands) As Previously Reported Adjustments As Restated Cash flows from operating activities Net (loss) income $ ( 636 ) $ 1,994 $ 1,358 Adjustments to reconcile net (loss) income to net cash from operating activities: Depreciation 3,215 781 3,996 Amortization expense 1,978 ( 98 ) 1,880 Amortization of deferred loan fees and line of credit fees - 98 98 Remeasurement of contingent consideration liabilities 826 ( 641 ) 185 Stock-based compensation expense 4,651 ( 1,211 ) 3,440 Provision for doubtful accounts ( 280 ) 272 ( 8 ) (Benefit) provision for deferred income tax ( 27 ) 2,323 2,296 Gain on disposition of assets ( 118 ) 118 - Deferred gain on sale leaseback ( 334 ) 334 - Deferred rent ( 2,079 ) 2,079 - Change in operating assets and liabilities (net of effect of business combinations): Accounts receivable 48 ( 595 ) ( 547 ) Inventories ( 6,957 ) 4 ( 6,953 ) Prepaid expenses and other current assets 3,916 ( 1,528 ) 2,388 Accounts payable 2,363 ( 260 ) 2,103 Accrued liabilities and other payables 5,293 ( 1,591 ) 3,702 Net change in lease assets and liabilities 1,288 ( 2,079 ) ( 791 ) Net cash provided by operating activities 1,988 - 1,988 Cash flows from financing activities Outstanding checks in excess of cash 4,042 2,032 6,074 Net cash used in financing activities ( 4,204 ) 2,032 ( 2,172 ) Net change in cash, cash equivalents and restricted cash ( 5,670 ) 2,032 ( 3,638 ) Cash, cash equivalents and restricted cash, beginning of period 50,292 ( 734 ) 49,558 Cash, cash equivalents and restricted cash, end of period $ 44,622 $ 1,298 $ 45,920 Supplemental cash flow information Noncash investing and financing activities: Increase in finance lease assets and liabilities upon adoption of ASC 842 $ 759 $ ( 692 ) $ 67 Reclassifications and Revisions Subsequent to the issuance of the Company's financial statements as of the year ended June 30, 2022, the Company discovered an error in its classification of purchase price for specific properties, which resulted in the Company overstating depreciable assets and the related depreciation expense for post-acquisition periods. Management has evaluated this misstatement, which understated property, plant and equipment, net and overstated inventories and the related cost of revenue, and concluded it was not material to prior periods, individually or in the aggregate. However, correcting the cumulative effect of the error in the current period would have had a material effect on the results of operations for such period. Therefore, the Company is revising the relevant prior period consolidated financial statements and related footnotes for this error and other immaterial out-of-period items for comparative purposes. The Company will also correct previously reported financial information for such immaterial errors in future filings, as applicable. Additionally, comparative prior period amounts in the applicable notes to the unaudited condensed consolidated financial statements have been revised, certain prior year amounts have been reclassified for consistency with the current year presentation, and our beginning retained earnings decreased $ 0.7 million, net of a tax benefit of $ 0.3 million, as a consequence of the impact of those identified immaterial errors to periods prior to July 1, 2021. Regarding our previously reported consolidated balance sheet as of June 30, 2022, the following table presents the impact of certain immaterial out-of-period items, reclassifications and other adjustments including but not limited to: (i) $ 1.8 million reclassification from restricted cash to cash and cash equivalents as well as $ 0.7 million reclassification for outstanding checks between cash and cash equivalents and accounts payable; (ii) $ 1.9 million non-recurring adjustment to prepaid expenses and other current assets related to the formation of VWE Captive, LLC; (iii) $ 2.6 million adjustment to property, plant and equipment, net due to an overstatement of depreciation expense arising from the incorrect classification of assets as part of historical purchase price allocations; (iv) $ 1.5 million reclassification between property, plant and equipment and inventories related to specific spirits barrels; (v) $ 1.3 million adjustment to intangible assets, net due to impairment; (vi) $ 2.1 million non-recurring adjustment to accrued liabilities and other payables for historical acquisitions; (vii) $ 1.8 million adjustment to additional paid-in capital and retained earnings due to overstatement of stock-based compensation expense arising from an incorrect service period used in expense recognition; and (viii) $ 0.7 million adjustment to accumulated deficit due to a prior year retained earnings decrease of $ 0.7 million, net of tax benefit of $ 0.3 million, primarily due to a non-recurring adjustment for historical acquisitions of $ 1.6 million, offset by $ 0.9 million for adjustment to property, plant and equipment, net due to overstatement of depreciation expense. CONSOLIDATED BALANCE SHEET June 30, 2022 (in thousands) As Previously Reported Adjustments As Revised Assets Current assets: Cash and cash equivalents $ 43,692 $ 1,066 $ 44,758 Restricted cash 6,600 ( 1,800 ) 4,800 Accounts receivable, net 38,192 ( 323 ) 37,869 Inventories 192,102 820 192,922 Prepaid expenses and other current assets 13,394 ( 1,530 ) 11,864 Total current assets 300,723 ( 1,767 ) 298,956 Property, plant, and equipment, net 236,100 2,619 238,719 Intangible assets, net 64,377 ( 1,280 ) 63,097 Total assets $ 765,895 $ ( 428 ) $ 765,467 Liabilities, redeemable noncontrolling interest, and stockholders' equity Current liabilities: Accounts payable $ 13,947 $ ( 474 ) $ 13,473 Accrued liabilities and other payables 24,204 2,793 26,997 Total current liabilities 197,275 2,319 199,594 Other long-term liabilities 6,491 564 7,055 Deferred tax liability 29,979 ( 654 ) 29,325 Total liabilities 413,506 2,229 415,735 Redeemable noncontrolling interest 1,663 ( 169 ) 1,494 Stockholders' equity: Additional paid-in capital 377,897 ( 1,798 ) 376,099 Accumulated deficit ( 571 ) ( 521 ) ( 1,092 ) Total Vintage Wine Estates, Inc. stockholders' equity 351,292 ( 2,319 ) 348,973 Noncontrolling interests ( 566 ) ( 169 ) ( 735 ) Total stockholders' equity 350,726 ( 2,488 ) 348,238 Total liabilities, redeemable noncontrolling interest, and stockholders' equity $ 765,895 $ ( 428 ) $ 765,467 The following table presents the impact of certain immaterial out-of-period items, reclassifications and other adjustments to our previously reported unaudited condensed consolidated statement of operations for the three months ending September 30, 2021 including but not limited to a $ 3.1 million adjustment to cost of revenue: wine, spirits and cider due to an understatement of costs resulting from incorrect overhead absorption. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) Three Months Ended September 30, 2021 (in thousands, except share and per share amounts) As Previously Reported Adjustments As Revised Net revenue Wine, spirits and cider $ 36,287 $ 348 $ 36,635 Total net revenue 55,687 348 56,035 Cost of revenue Wine, spirits and cider 20,588 3,132 23,720 Total cost of revenue 32,250 3,132 35,382 Gross profit 23,437 ( 2,784 ) 20,653 Selling, general, and administrative expenses 16,983 ( 5 ) 16,978 Amortization expense 651 - 651 Loss on remeasurement of contingent liability - 155 155 (Loss) from operations 6,143 ( 2,934 ) 3,209 Other income (expense) Net unrealized gain on interest rate swap agreements 1,393 179 1,572 Total other income, net ( 2,171 ) 179 ( 1,992 ) Income before provision for income taxes 3,972 ( 2,755 ) 1,217 Income tax provision 1,193 ( 744 ) 449 Net income 2,779 ( 2,011 ) 768 Net income attributable to Vintage Wine Estates, Inc. 2,754 ( 1,961 ) 793 Net income allocable to common stockholders $ 2,754 $ ( 1,961 ) $ 793 Net earnings per share allocable to common stockholders Basic $ 0.05 $ ( 0.04 ) $ 0.01 Diluted $ 0.05 $ ( 0.04 ) $ 0.01 The following table presents the impact of the adjustments and reclassifications discussed above on the unaudited condensed consolidated cash flow statement for the three months ending September 30, 2021: CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Three Months Ended September 30, 2021 (in thousands) As Previously Reported Adjustments As Revised Cash flows from operating activities Net income $ 2,779 ( 2,011 ) $ 768 Adjustments to reconcile net income to net cash from operating activities: Depreciation 3,503 ( 2,001 ) 1,502 Amortization expense 750 ( 99 ) 651 Amortization of deferred loan fees and line of credit fees - 99 99 Remeasurement of contingent consideration liabilities - 155 155 Net unrealized gain on interest rate swap agreements ( 1,393 ) ( 179 ) ( 1,572 ) (Benefit) provision for deferred income tax - ( 1,059 ) ( 1,059 ) Change in operating assets and liabilities (net of effect of business combinations): Inventories ( 4,671 ) 4,227 ( 444 ) Accrued liabilities and other payables 1,356 1,704 3,060 Other - ( 836 ) ( 836 ) Net cash provided by operating activities ( 2,020 ) - ( 2,020 )

Business Combinations

Business Combinations	3 Months Ended
	Sep. 30, 2022
Business Combinations [Abstract]
Business Combinations	3. B u siness Combinations 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 Total identifiable assets acquired 7,523 Goodwill $ 9,477 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 revenue. 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. The results of operations of Vinesse are included in the accompanying condensed consolidated statements of operations from the October 4, 2021 acquisition date. 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 ( 6,554 ) Total identifiable assets acquired 19,901 Goodwill $ 27,539 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 revenue. 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 2.75 % and (ii) discount rate of 12.5 %. Customer relationships fair value was derived using the MPEEM, utilizing a discount rate of 13.0 %, and Cost Approach. Customer relationships were weighted; 90.0% using the MPEEM model and 10.0% using the Cost Approach. The results of operations of ACE Cider are included in the accompanying condensed consolidated statements of operations from the November 16, 2021 acquisition date. 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 earn out consideration will be paid in a combination of 50 % cash and 50 % stock. The common stock shares issued are also subject to the terms of the lock-up agreement. 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 12,859 Inventory 4,280 Other assets 356 Trademarks 700 Customer relationships 6,400 Accounts payable and accrued expenses ( 2,682 ) Deferred tax liability ( 6,033 ) Total identifiable assets acquired 19,549 Goodwill $ 8,247 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 revenue. 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 27.0 %. Customer relationships fair value was derived using the MPEEM, utilizing a discount rate of 28.0 %. Customer relationships were weighted 100.0% using the MPEEM model. The results of operations of Meier's are included in the accompanying condensed consolidated statements of operations from the January 18, 2022 acquisition date. Transaction costs incurred in the acquisition were insignificant. 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 $ 0.4 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	3 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
Inventory	4. Inve ntory (as restated) Inventory consists of the following: (in thousands) September 30, 2022 June 30, 2022 As Restated Bulk wine, spirits and cider $ 91,848 $ 88,978 Bottled wine, spirits and cider 88,201 86,785 Bottling and packaging supplies 18,367 16,328 Nonwine inventory 1,256 831 Total inventories $ 199,672 $ 192,922 For the three months ended September 30, 2022 and 2021, the Company did no t recognize any losses related to reducing inventory to its net realizable value. For the three months ended September 30, 2022 and fiscal year ended June 30, 2022, the Company's inventory balances are presented net of inventory reserves of zero and $ 2.2 million, respectively, for bulk wine, spirits and cider inventory, $ 1.5 million and $ 1.8 million, respectively, for bottled wine, spirits and cider inventory and $ 0.4 million and $ 0.4 million, respectively, for bottling and packaging supplies inventory.

Assets Held for Sale

Assets Held for Sale	3 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract]
Assets Held for Sale	5 . Assets Held for Sale (as restated) During the period ended September 30, 2022, the Company had two asset groups classified as held for sale. The assets held for sale include certain real property related to Laetitia vineyards and land and property, plant and equipment and assumption of a land lease related to the Tamarack Cellars production facility. These assets are being marketed for sale. The Company intends to complete the sales of the assets within twelve months. The carrying amounts of assets held for sale consists of the following: (in thousands) September 30, 2022 Laetitia vineyards land held for sale $ 13,233 Tamarack Cellars property, plant and equipment held for sale 2,767 Less accumulated depreciation and amortization ( 2,779 ) Total assets held for sale $ 13,221 The cash flows related to held for sale assets have not been segregated and remain included in the major classes of assets. There were no assets classified as held for sale for the year ended June 30, 2022.

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	6. Property, Pla nt and Equipment (as restated) Property, plant and equipment consists of the following: (in thousands) September 30, 2022 June 30, 2022 As Restated Buildings and improvements $ 138,875 $ 139,223 Land 35,318 46,632 Machinery and equipment 77,935 77,676 Cooperage 9,289 10,165 Vineyards 10,968 12,860 Furniture and fixtures 1,796 1,754 274,181 288,310 Less accumulated depreciation and amortization ( 68,032 ) ( 66,987 ) 206,149 221,323 Construction in progress 18,317 17,396 $ 224,466 $ 238,719 Depreciation and amortization expense related to property and equipment wa s $ 4.0 million and $ 1.6 million for the three months ended September 30, 2022 and 2021, respectively.

Goodwill and Intangibles Assets

Goodwill and Intangibles Assets	3 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangibles Assets	7. Goodwill and Intan gible Assets (as restated) Goodwill There were no changes in the carrying amounts of goodwill from fiscal year ended June 30, 2022. Intangible Assets The following tables summarize other intangible assets by class: September 30, 2022 (in thousands) Gross Accumulated Net Intangible Weighted Average Remaining Amortization Period (in years) Indefinite-life intangibles As Restated As Restated As Restated Trade names and trademarks $ 28,922 $ - $ 28,922 N/A Winery use permits 6,750 - 6,750 N/A Total Indefinite-life intangibles 35,672 - 35,672 Definite-life intangibles Customer and Sommelier relationships 30,700 ( 6,523 ) 24,177 4.2 Trade names and trademarks 1,900 ( 358 ) 1,542 3.7 Total definite-life intangibles 32,600 ( 6,881 ) 25,719 Total other intangible assets $ 68,272 $ ( 6,881 ) $ 61,391 June 30, 2022 (in thousands) Gross Accumulated Accumulated Impairment Losses Net Intangible Weighted Average Remaining Amortization Period (in years) Indefinite-life intangibles Trade names and trademarks $ 30,203 $ - $ ( 1,281 ) $ 28,922 N/A Winery use permits 6,750 - - 6,750 N/A Total Indefinite-life intangibles 36,953 - ( 1,281 ) 35,672 Definite-life intangibles Customer and Sommelier relationships 30,700 ( 4,922 ) - 25,778 4.4 Trade names and trademarks 1,900 ( 253 ) - 1,647 3.5 Total definite-life intangibles 32,600 ( 5,175 ) - 27,425 Total other intangible assets $ 69,553 $ ( 5,175 ) $ ( 1,281 ) $ 63,097 Amortization expense of definite-life intangibles w as $ 1.7 million and $ 0.5 million for the three months ended September 30, 2022 and 2021, respectively. As of September 30, 2022, estimated future amortization expense for definite-lived assets is as follows: (in thousands) 2023 remaining $ 5,116 2024 6,811 2025 5,292 2026 4,527 2027 3,179 Thereafter 794 Total estimated amortization expense $ 25,719

Accrued Liabilities

Accrued Liabilities	3 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
Accrued Liabilities	8. Accrue d Liabilities (as restated) The major classes of accrued liabilities are summarized as follows: September 30, 2022 June 30, 2022 (in thousands) As Restated Accrued purchases $ 13,573 $ 6,728 Accrued employee compensation 4,551 5,580 Other accrued expenses 5,102 8,867 Non related party accrued interest expense 517 429 Contingent consideration 3,256 2,710 Unearned Income 296 642 Captive insurance liabilities 1,416 2,041 Total Accrued liabilities and other payables $ 28,711 $ 26,997

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	9. Fair Value M easurements (as restated) The following tables present assets and liabilities measured at fair value on a recurring basis: September 30, 2022 (in thousands) Level 1 Level 2 Level 3 Total Assets: Money market funds $ 36,738 $ - $ - $ 36,738 Interest rate swaps (1) 18,381 18,381 Total $ 36,738 $ 18,381 $ - $ 55,119 Liabilities: Contingent consideration liabilities (2) $ - $ - $ 9,302 $ 9,302 Total $ - $ - $ 9,302 $ 9,302 June 30, 2022 (in thousands) Level 1 Level 2 Level 3 Total Assets: Money market funds $ 36,616 $ - $ - $ 36,616 Interest rate swaps (1) 9,157 9,157 Total $ 36,616 $ 9,157 $ - $ 45,773 Liabilities: Contingent consideration liabilities (2) $ - $ - $ 9,156 $ 9,156 Total $ - $ - $ 9,156 $ 9,156 (1) 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. (2) 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. The following table provides a reconciliation of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3): Contingent (in thousands) As Restated Balance at June 30, 2022 $ 9,156 Acquisitions - Payments ( 39 ) Change in fair value 185 Balance at September 30, 2022 9,302 Less: current portion ( 3,256 ) Long term portion $ 6,046 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.

Leases

Leases	3 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Leases	1 0. Leases (as restated) Leases Under ASC 842 We have lease agreements for certain winery facilities, vineyards, corporate and administrative offices, tasting rooms, and equipment under long-term non-cancelable leases. We determine if an arrangement is a lease at inception by evaluating whether the arrangement conveys the right to use an identified asset and whether we obtain substantially all of the economic benefits from and have the ability to direct the use of the asset. Our lease agreements generally do not contain any material residual value guarantees or material restrictive covenants. Beginning July 1, 2022, operating leases are included in operating lease right-of-use assets, current operating lease liabilities and long-term operating lease liabilities in our condensed consolidated balance sheet. Operating lease right-of-use assets and corresponding operating lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Operating lease expense for operating lease assets is recognized on a straight-line basis over the lease term. As most of our leases do not provide an implicit rate, we use our collateralized incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We use the implicit rate if it is readily determinable. In connection with the restatement, the Company has reclassified the deferred gain related to a previous sale and leaseback of $ 7.8 million, net of taxes of $ 2.9 million, to retained earnings. See Note 2. Finance leases are included in finance lease right-of-use assets, current finance lease liabilities and long-term finance lease liabilities in our condensed consolidated balance sheet. Our lease agreements include leases that contain lease components and non-lease components. For all asset classes, we have elected to account for both of these provisions as a single lease component. We also have elected to apply a practical expedient for short-term leases whereby we do not recognize a lease liability and right-of-use asset for leases with a term of 12 months or less. In addition, we elected the package of transition practical expedients permitted under the transition guidance, which allows the Company to carry forward our leases without reassessing, whether any contracts are leases or contain leases, lease classification and initial direct costs. Our leases have remaining lease terms from less than one year to 10 years . Our lease terms may include options to extend or terminate the lease when it is reasonably certain and there is significant economic incentive to exercise that option. Beginning fiscal 2022, we no longer had related party lease agreements. The following table summarizes the components of lease expense: Three Months Ended (in thousands) September 30, 2022 Operating lease expense $ 1,808 Finance lease expense Amortization of right-of-use assets 70 Interest on lease liabilities 9 Total finance lease expense 79 Variable lease expense 157 Short-term lease expense 35 Total lease expense $ 2,079 The following table summarizes supplemental balance sheet related to leases: (in thousands) September 30, 2022 Operating Leases Operating lease right-of-use assets $ 35,509 Current portion of operating lease liabilities 5,197 Long-term operating lease liabilities 31,637 Total operating lease liabilities 36,834 Finance Leases Finance lease right-of-use assets 689 Current portion of finance lease liabilities 263 Long-term finance lease liabilities 429 Total finance lease liabilities $ 692 The following table summarizes the weighted-average remaining lease term and discount rate: Weighted-average remaining lease term (in years) Operating leases 6.7 Finance leases 2.8 Weighted-average discount rate Operating leases 5.0 % Finance leases 5.0 % The minimum annual payments under our lease agreements as of September 30, 2022 are as follows: (in thousands) Operating Leases Finance Leases Remaining fiscal 2023 $ 4,795 $ 219 2024 6,849 285 2025 6,529 157 2026 6,521 79 2027 6,195 - 2028 and thereafter 12,479 - Total lease payments 43,368 740 Less imputed interest ( 6,534 ) ( 48 ) Present value of lease liabilities 36,834 692 Current portion of lease liabilities ( 5,197 ) ( 263 ) Total long term lease liabilities $ 31,637 $ 429 * Table excludes obligations for leases with original terms of 12 months or less which have not been recognized as ROU assets or liabilities in our condensed consolidated balance sheets.

Long-Term and Other Short-Term

Long-Term and Other Short-Term Obligations	3 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Long-Term and Other Short-Term Obligations	11. Long-Term a nd Other Short-Term Obligations (as restated) The following table summarizes long-term and other short-term obligations: (in thousands) September 30, 2022 June 30, 2022 Note to a bank with interest at LIBOR ( 1.76 %) at September 30, 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. $ 75,726 $ 76,792 Capital expenditures borrowings payable at LIBOR ( 0.50 %) at September 30, 2022 and June 30, 2022 plus 1.75 %, payable in quarterly installments of $ 1,077 at September 30, 2022 and June 30, 2022 with draw expiring July, 2026. 39,699 40,776 Note to a bank with interest fixed at 3.6 %, payable in monthly installments of $ 60 principal with applicable interest; matures in April 2023 . 418 593 Note to a bank with interest fixed at 2.75 %, payable in monthly installments of $ 61 principal with March 2024 . 1,071 1,246 Delayed Draw Term Loan ("DDTL") with interest at LIBOR ( 2.32 %) at September 2022 plus 1.75 %, payable in quarterly installments of $ 1,260 starting March 2022. Matures in July 2024 . 64,622 65,882 181,536 185,289 Less current maturities ( 14,738 ) ( 14,909 ) Less unamortized deferred financing costs ( 1,221 ) ( 1,285 ) $ 165,577 $ 169,095 Line of Credit The Company has a $ 480.0 million amended and restated loan and security agreement 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 $ 55.0 million. Upon consummation of the merger transaction, the requirements of the delayed draw term loan were met. The effective interest rate under the revolving facility w as 2.6 % and 4.0 % as of September 30, 2022 and 2021, respectively. The Company had availability under the line of credit as of September 30, 2022 and June 30, 2022, respectively. On November 8, 2022, we amended the amended and restated loan and security agreement to revise a definition used in a financial covenant under the agreement for the debt covenant calculation as of September 30, 2022 and subsequent periods. On December 13, 2022, we entered into a second amended and restated loan and security agreement (the “Second A&R Loan and Security Agreement”), which further amended and restated the Amended and Restated Loan and Security Agreement and provides credit facilities totaling up to $ 458.4 million. The credit facilities under the Second A&R Loan and Security Agreement consist of: (i) a term loan facility in the principal amount of approximately $ 156.5 million (the “Term Loan Facility”), (ii) an accounts receivable and inventory revolving facility in the principal amount of approximately $ 229.7 million with a letter of credit sub-facility in the aggregate availability amount of $ 20.0 million (the “Revolving Facility”), (iii) an equipment loan facility in the principal amount of approximately $ 4.2 million (the “Equipment Loan”), (iv) a capital expenditure facility in the principal amount of approximately $ 15.2 million (the “Capex Facility”) and (v) a delayed draw term loan facility in the principal amount of approximately $ 52.9 million (amounts are available to be drawn through December 13, 2023) (the “DDTL Facility”, and, together with the Term Loan Facility, the Revolving Facility, the Equipment Loan and the Capex Facility, the “Credit Facilities”). Concurrent with the closing of the Second A&R Loan and Security Agreement, we executed a draw of approximately $ 154.6 million on the Term Loan Facility, $ 125.0 million on the Revolving Facility, $ 4.2 million on the Equipment Loan, $ 15.2 million on the Capex Facility and $ 30.6 million on the DDTL Facility. The proceeds from the loan were used to, among other things, pay down outstanding amounts of under the Company’s existing credit facilities including the Amended and Restated Loan and Security Agreement. The Term Loan Facility matures on December 13, 2027 , and the Second A&R Loan and Security Agreement extends the maturities of the other credit facilities as follows: (i) the Revolving Facility matures on December 13, 2027 , (ii) the Equipment Loan matures on December 31, 2026 , (iii) the Capex Facility matures on June 30, 2027 and (iv) the DDTL Facility matures on December 13, 2027 . The refinancing of the Second A&R Loan and Security Agreement was evaluated in accordance with ASC 470-50, Modifications and Extinguishments on a lender-by-lender basis. Certain lenders did not participate in the refinancing and the repayment of their related outstanding debt balances has been accounted for as an extinguishment of debt. Proceeds of borrowings from new lenders were accounted for as a new debt financing. The Company recorded a loss on extinguishment of debt of $ 0.5 million in the accompanying consolidated statement of operations and comprehensive income. For the remainder of the lenders, this transaction was accounted for as a modification because the difference between present value of the cash flows under the terms of the modified agreement (the Second A&R Loan and Security Agreement) and the present value of the cash flows under terms of the original agreement was less than 10% on a lender-by-lender basis. As part of the refinancing of the Term Loan Facility, the Company incurred various costs of $ 2.3 million, including a $ 0.5 million original issue discount and $ 1.9 million in third-party debt issuance costs. As part of the refinancing of the Revolving Facility , t he Company incurred various costs of $ 2.6 million, including a $ 0.5 million original issue discount and $ 2.1 million in third-party debt issuance costs. Regularly scheduled principal repayments of the Credit Facilities (other than the Revolving Facility) are payable on a quarterly basis as follows: (i) with respect to the Term Loan Facility, an amount equal to the original principal amount of the Term Loan Facility multiplied by 1/100 th , (ii) with respect to the Equipment Loan, an amount equal to $ 0.2 million, (iii) with respect to the Capex Facility, an amount equal to $ 0.8 million, and (iv) with respect to the DDTL Facility, an amount equal to the original principal amount of the DDTL Facility multiplied by 1/28 th with respect to delayed draw term loans used to purchase equipment and 1/100 th with respect to delayed draw term loans used to purchase real estate. Repayment of the Revolving Facility is required if the borrowing base (as defined in the Second A&R Loan and Security Agreement) does not support the amount of borrowing under the Revolving Facility. Any unpaid principal, interest and other amounts owing with respect to any Credit Facility is due at maturity of such Credit Facility. Borrowings under the Credit Facilities bear interest at a rate per annum equal to, at the Company’s option, either (a) a Term Secured Overnight Financing rate “SOFR” for the applicable interest period relevant to such borrowing, plus a market-determined credit spread adjustment depending on such interest period ( 0.10 % for one-month; 0.15 % for three-months; and 0.25 % for six-months), plus an applicable margin ( 2.25 % for the Credit Facilities other than the Revolving Facility; for the Revolving Facility the applicable margin is based on a range of 1.50 %- 2.00 % depending on average borrowing availability under the Credit Facilities) or (b) an Adjusted Base Rate, or ABR, determined by reference to the highest of (i) Federal Funds Rate plus 0.50 %, (ii) the rate of interest established by the lender acting as the administrative agent as its “prime rate” and (iii) the Term SOFR for a one-month term in effect on that day plus 1.0 % plus a market-determined credit spread adjustment of 0.10 %, plus, in each case, an applicable margin ( 1.25 % for the Credit Facilities other than the Revolving Facility; depending on average availability for the Revolving Facility, with the initial applicable margin for the Revolving Facility being 1.00 %). The Company is currently in the process of amending our interest rate swap agreements to conform with the Credit Facilities. We do not expect the impact of these amendments to have a material impact on the Credit Facilities' interest rates. In addition, the Second A&R Loan and Security Agreement and related loan documents provide for recurring fees with respect to the Credit Facilities, including (i) a fee for the unused commitments of the lenders under the Term Loan Facility, the Revolving Facility and the DDTL Facility, payable quarterly, accruing at a rate equal to 0.25 % per annum with respect to the Term Loan Facility and the DDTL Facility and a rate within the range of 0.15 %- 0.20 % per annum with respect to the Revolving Facility depending on average availability under the Revolving Facility (ii) letter of credit fees (which vary depending on the applicable margin rate based on the average availability under the Revolving Facility), fronting fees and processing fees to each issuing bank and (iii) administration fees. The Credit Facilities are secured by substantially all of the assets of the Company. Additionally, the Second A&R Loan and Security Agreement includes customary representations and warranties, affirmative and negative covenants, financial covenants and certain other amendments, including, without limitation, (i) a minimum fixed charge coverage ratio (based on trailing twelve-month EBITDA adjusted for capital expenditures, taxes and certain other items) of 1.10:1.00 measured on a rolling four quarter basis provided that the minimum capital expenditure amount for purposes of calculating the fixed charge coverage ratio will increase by $ 175.0 thousand per quarter until it reaches $ 1.5 million, (ii) the addition of a maximum debt to capitalization ratio covenant, initially set at 0.60:1.00 for each quarter until December 31, 2023 and stepping down to 0.575:1.00 for each quarter until March 31, 2024 and 0.55:1.00 for each quarter until December 31, 2024 and thereafter, (iii) certain new EBITDA addbacks (and one historical EBITDA deduction in the amount of approximately $ 1.4 million for the quarter ended September 30, 2022) and (iv) certain amendments to the conditions for permitted acquisitions and accordion increases. On February 13, 2023, we amended the Second A&R Loan and Security Agreement to revise the deadline for submitting our December 31, 2022 consolidated financial statements to 90 days after the period end. On March 31, 2023, we amended the Second A&R Loan and Security Agreement to revise the deadline for submitting our December 31, 2022 consolidated financial statements to 120 days after the period end. On May 9, 2023, we amended the Second A&R Loan and Security Agreement to revise the definition and calculation of certain financial covenants as of March 31, 2023. The amendment revised the definition of Adjusted EBITDA (as defined in the Second A&R Loan and Security Agreement) as utilized in the fixed charge coverage ratio calculation to allow certain addbacks to Adjusted EBITDA. Due to the amendment, at March 31, 2023, the Company believes it is in compliance with the covenants contained in the Second A&R Loan and Security Agreement. On October 12, 2023, the Company entered into a fourth amendment to the Second Amended and Restated Loan and Security Agreement (the “Fourth Amendment”) by and among the Company, the Borrowers, the Lenders party thereto, and Agent. The Fourth Amendment, among other things: (i) waives certain existing events of default relating to the Company’s failure to comply with the financial covenants and financial reporting requirements set forth in the Credit Agreement for prior fiscal periods; (ii) reduces the aggregate revolving commitment and the aggregate delayed draw term loan commitment to $ 200,000,000 and $ 38,100,000 , respectively; (iii) replaces the maximum debt to capitalization financial covenant with a minimum adjusted EBITDA financial covenant of not less than (1) $ 4,000,000 for the fiscal quarter ending September 30, 2023, (2) $ 17,000,000 for the two fiscal quarter period ending December 31, 2023, (3) $ 27,000,000 for the three fiscal quarter period ending March 31, 2024, (4) $ 34,000,000 for the four fiscal quarter period ending June 30, 2024, and (5) $ 35,000,000 for each four fiscal quarter period ending thereafter; (iv) adds a minimum liquidity covenant of $ 25,000,000 (or, for fiscal quarters ending in December, $ 15,000,000 ), which applies only for the fiscal quarters ending September 30, 2023 through and including December 31, 2024 (the “Covenant Modification Period”); (v) suspends the minimum fixed charge coverage ratio covenant for the fiscal quarters ending September 30, 2023 through and including June 30, 2024 and provides for a step-down of the minimum fixed charge coverage ratio to 1.00:1.00 for the remainder of the Covenant Modification Period; (vi) adds an equity cure right for the Company in the event of future breaches of the financial covenants; (vii) reduces revolver availability by (1) $ 15,000,000 during the months of February through September of each year and (2) $ 10,000,000 during the months of October through January of each year; (viii) suspends the exercise of incremental facilities during the Covenant Modification Period; (ix) restricts all permitted acquisitions during the term of the credit facilities, unless previously approved by the required Lenders; (x) increases in the applicable margin for all credit facilities to 3.00 % for SOFR Loans and 2.00 % for ABR Loans, which margins will step-up further if certain prepayments of the Term Loans are not made by certain dates prescribed in the Amendment; (xi) adds additional mandatory prepayments of (1) $ 10,000,000 by no later than March 31, 2024, (2) an additional $ 10,000,000 by no later than June 30, 2024 and (3) an additional $ 25,000,000 by no later than December 31, 2024; (xii) adds additional mandatory prepayments in the event that the Borrowers maintain a cash balance in excess of $ 20,000,000 ; (xiii) permits additional sales of certain real property with an aggregate appraised value of approximately $ 60,000,000 , in addition to related personal property assets; and (xiv) adds certain additional reporting requirements to Agent and the Lenders. As a result, as of the date hereof, the Company has received a waiver for certain events of default and is in compliance with its covenants contained in the Second A&R Loan and Security Agreement. Maturities of Long-Term and Other Short-Term Borrowings As of September 30, 2022, maturities of long-term and other short-term borrowings for succeeding years are as follows: For the years ended June 30, Remaining 2023 $ 11,156 2024 14,152 2025 64,372 2026 8,571 2027 83,285 $ 181,536

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Stockholders' Equity	12. Stockhold ers' Equity (as restated) Common Stock We had reserved shares of stock, on an as-if converted basis, for issuance as follows: September 30, 2022 June 30, 2022 Warrants 25,646,453 25,818,247 Earnout shares 5,726,864 5,726,864 Total 31,373,317 31,545,111 Warrants At September 30, 2022, there were 25,646,453 warrants outstanding to purchase shares of the Company's common stock at a price of $ 11.50 per whole share. The 25,646,453 warrants are made up of 18,000,000 Public Warrants (the "Public Warrants") and 8,000,000 Private Warrants (the "Private Warrants") less the 353,547 warrants that have been repurchased as part of our share repurchase plan. The Public Warrants are exercisable commencing on August 11, 2021 and expire five years after the commencement date. The Company may accelerate the expiry date by providing 30 days ’ prior written notice, if and only if, the closing price of the Company’s common stock equals or exceeds $ 18.00 per share for any 20 trading days within a 30 -trading day period. The public warrant holder’s right to exercise will be forfeited unless the warrants are exercised prior to the date specified in the notice of acceleration of the expiry date. At September 30, 2022, there were 8,000,000 purchased warrants at a price of $ 1.00 per Private Warrant, with each Private Warrant exercisable commencing on August 11, 2021 for one common share at an exercise price of $ 11.50 , subject to anti-dilution adjustments. The private warrants expire five years after the commencement date. Earnout Shares In connection with the closing of the business combination between Bespoke Capital Acquisition Corp. and Vintage Wine Estates, Inc., a California corporation (“VWE Legacy”) pursuant to a transaction agreement dated February 3, 2021, as amended, certain shareholders of shareholders of VWE Legacy 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 September 30, 2022. Meier's Earnout Shares In connection with the closing of the Meier's business combination with Paul T. Lux Irrevocable Trust pursuant to a merger agreement dated January 18, 2022, Mr. Lux is entitled to receive up to an additional $ 5 million of the Company’s common stock, subject to the terms of the earnout agreement. The Company will make earnout payments based on the product of the amount of adjusted EBITDA in calendar 2022, 2023 and 2024 over EBITDA threshold, as defined in the merger agreement, and the earnout multiple of seven. The earnout payment shall be paid 50 % in cash and 50 % in the Company's common stock. No shares were issued through September 30, 2022. 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 stock-based compensation expense by award type: Three Months Ended September 30, 2022 September 30, 2021 (in thousands) As Restated Stock option awards $ 489 $ - Restricted stock units 2,951 - Total stock-based compensation $ 3,440 $ - 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. Stock option awards vest in four equal installments of 25 %, with the first installment vesting 18 months after the vesting commencement date with respect to an additional 25 % of the total stock-based award on each of the 2nd, 3rd and 4th anniversaries of the vesting commencement date, providing in each case the employee remains in continuous employment or service with the Company or an Affiliate. Compensation expense is recognized ratably over the requisite service period. The following table presents a summary of stock option activity under the 2021 Plan: As Restated Stock Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (Years) (As Restated) Aggregate Intrinsic Value Outstanding at June 30, 2022 3,503,527 $ 10.50 8.9 $ - Granted 173,364 10.50 10.0 - Exercised - - - - Forfeited or cancelled ( 1,250 ) 10.50 - - Outstanding at September 30, 2022 3,675,641 $ 10.50 9.0 - Total unrecognized compensation expense related to the stock options was $ 7.9 million, which is expected to be recognized over a weighted-average period of 5.0 years. No stock options were vested and exercisable as of September 30, 2022. 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: As Restated Restricted Stock Units Weighted-Average Grant Date Fair Value Outstanding at June 30, 2022 1,902,068 $ 8.14 Granted 88,587 5.66 Issued - - Forfeited or cancelled - - Outstanding at September 30, 2022 1,990,655 $ 8.03 Total unrecognized compensation expense related to the restricted stock units was $ 7.8 million, which is expected to be recognized over a weighted-average period of 2.7 years. No restricted stock units vested as of September 30, 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 and/or warrants repurchased under our repurchase plan are recorded based upon the settlement date of the applicable trade. Such repurchased shares are presented using the cost method. During the quarter ended September 30, 2022, the Company repurchased 171,994 warrants at an average price of $ 1.02 per warrant. The total cost of the shares and/or warrants repurchased was $ 0.2 million. The table below summarizes the changes in repurchases of common stock and warrants: (in thousands) September 30, 2022 Balance at June 30, 2022 3,053,447 Repurchases of common stock - Repurchases of warrants 171,994 Balance at September 30, 2022 3,225,441 The Stock and Warrant Repurchase Plan Expired on September 9, 2022.

Income Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	13. Inco me Taxes ( as restated ) The increase in our effective tax rate for the three months ended September 30, 2022 was primarily due to changes in pre-tax income and permanent items, which primarily consist of non-deductible officer compensation expense, as compared to the three months ended September 30, 2021. For the three months ended September 30, 2022, the effective tax rate differs from the federal statutory rate of 21 % primarily due to permanent items related to non-deductible officers compensation expense. For the three months ended September 30, 2021, the effective tax rate differs from the federal statutory rate of 21 % primarily due to state taxes. The provisional measurements of fair value for income taxes payable and deferred taxes for the acquisitions of Vinesse, ACE Cider and Meier's may be subject to changes 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	3 Months Ended
	Sep. 30, 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. 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 2023 $ 40,524 2024 20,706 2025 18,158 $ 79,388 Grape and bulk wine purchases under contracts totaled $ 15.8 million and $ 10.3 million for the three months ended September 30, 2022 and 2021, respectively. The Company expects to fulfill all of these purchase commitments.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	15. Related Party Transactions ( as restated ) 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 $ 125.0 thousand and $ 71.0 thousand for the three months ended September 30, 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 September 30, 2022 and 2021, payments related to sponsorship and marketing services totaled $ 87.0 thousand and $ 75.0 thousand, respectively. We have a revenue sharing agreement with Sonoma Brands Partners II, LLC where a portion of B.R. Cohn and Clos Pegase sales during various events throughout the year are paid to Sonoma Brands Partners II, LLC. Sonoma Brands Partners II, LLC is managed by a member of the Company's board of directors. For the three months ended September 30, 2022 and 2021, we made no payments to Sonoma Brands Partners II, LLC. The Company has a contract with Bin-to-bottle, a storage and bottling company owned by Patrick Roney, for storage purposes. The expenses incurred for storage were immaterial for the years ended June 30, 2023 and 2022. Financial Advisory Agreement In April 2022, the Company entered into an arrangement with Global Leisure Partners LLC ("GLP") to act as a financial advisor to the Company in connection with its exploration of acquisitions, mergers, investments and other strategic matters. A director of the Company having the authority to establish policies and make decisions is an executive of GLP. 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 . During the three months ended September 30, 2022 and 2021, payments in respect of capital markets and mergers and acquisitions matters totaled $ 50.0 thousand and zero , respectively.

Segments

Segments	3 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segments	16. Seg ments (as restated) Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the 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, spirits and cider to wholesale distributors under purchase orders. Wholesale operations generate revenue from product sold to distributors, who then sell them off 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 spirits, and custom winemaking services. Annually, we work with our national retail partners to develop private label wines incremental to their wholesale channel businesses. Other — Other is included in the tables below for purposes of reconciliation of revenues and profit but is not considered a reportable segment. In 2022, it included revenue from grape and bulk wine sales and storage services. In 2023 and going forward, these immateial revenues are recorded in the B2B segment. We record corporate level expenses, non-direct selling expenses and other expenses not specifically allocated to the results of operations in Other. The following tables present net revenue and income from operations directly attributable to the Company's segments: Three Months Ended September 30, 2022 As Restated (in thousands) Wholesale Direct-to-Consumer Business-to-Business Other Total Segment Results Net revenue $ 23,987 $ 19,992 $ 34,180 $ ( 79 ) $ 78,080 Income (loss) from operations $ 2,288 $ 1,969 $ 10,533 $ ( 18,175 ) $ ( 3,385 ) Three Months Ended September 30, 2021 (in thousands) Wholesale Direct-to-Consumer Business-to-Business Other Total Segment Results Net revenue $ 16,203 $ 15,263 $ 24,467 $ 102 $ 56,035 Income (loss) from operations $ 3,042 $ 2,031 $ 6,229 $ ( 8,093 ) $ 3,209 There was no inter-segment activity for any of the given reporting periods presented. Depreciation expense recognized by operating segment is summarized below: (in thousands) Wholesale Direct-to-Consumer Business-to-Business Other Total For the periods ended September 30: 2022 $ 40 $ 291 $ 235 $ 448 $ 1,014 2021 $ - $ 300 $ - $ - $ 300 Amortization expense recognized by operating segment is summarized below: (in thousands) Wholesale Direct-to-Consumer Business-to-Business Other Total For the periods ended September 30: 2022 $ 596 $ 745 $ 364 $ - $ 1,705 2021 $ 10 $ 613 $ 3 $ 25 $ 651 Excluding the property, plant, and equipment specific to assets located at our tasting facilities, and the customer and sommelier relationships and intangible assets specific to the Sommelier acquisition, given the nature of our business, revenue generating assets are utilized across segments, therefore, discrete financial information related to segment assets and other balance sheet data is not available and the information continues to be aggregated.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	17. Earning s Per Share (as 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 September 30, 2022 2021 (in thousands, except for per share amounts) As Restated Net income $ 1,358 $ 768 Less: loss allocable to noncontrolling interest ( 174 ) ( 25 ) Net income allocable to common shareholders $ 1,532 $ 793 Numerator – Basic EPS Net income allocable to common shareholders $ 1,532 $ 793 Net income allocated to common shareholders $ 1,532 $ 793 Numerator – Diluted EPS Net income allocated to common shareholders $ 1,532 $ 793 Net income allocated to common shareholders $ 1,532 $ 793 Denominator – Basic Common Shares Weighted average common shares outstanding - Basic 58,819,160 60,461,611 Denominator – Diluted Common Shares Weighted average common shares - Diluted 58,819,160 60,461,611 Net income per share – basic: Common Shares $ 0.03 $ 0.01 Net income per share – diluted: Common Shares $ 0.03 $ 0.01 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 September 30, 2022 2021 Shares subject to warrants to purchase common stock 25,646,453 26,000,000 Shares subject to options to purchase common stock 3,675,641 - Total 29,322,094 26,000,000

Subsequent Events

Subsequent Events	3 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	18. Subsequent Events (as restated) During the three months ended December 31, 2022, the Company identified a number of goodwill and intangible asset impairment indicators that led us to conclude that an impairment test was required. After performing fair value determinations, we recorded a goodwill impairment of $ 125.3 million and intangible assets impairments of $ 13.8 million for the three months ended December 31, 2022. On October 12, 2023, t he Company entered into a fourth amendment to the Second Amended and Restated Loan and Security Agreement (the “Fourth Amendment”) by and among the Company, the Borrowers, the Lenders party thereto, and Agent. The Fourth Amendment, among other things: (i) waives certain existing events of default relating to the Company’s failure to comply with the financial covenants and financial reporting requirements set forth in the Credit Agreement for prior fiscal periods; (ii) reduces the aggregate revolving commitment and the aggregate delayed draw term loan commitment to $ 200,000,000 and $ 38,100,000 , respectively; (iii) replaces the maximum debt to capitalization financial covenant with a minimum adjusted EBITDA financial covenant of not less than (1) $ 4,000,000 for the fiscal quarter ending September 30, 2023, (2) $ 17,000,000 for the two fiscal quarter period ending December 31, 2023, (3) $ 27,000,000 for the three fiscal quarter period ending March 31, 2024, (4) $ 34,000,000 for the four fiscal quarter period ending June 30, 2024, and (5) $ 35,000,000 for each four fiscal quarter period ending thereafter; (iv) adds a minimum liquidity covenant of $ 25,000,000 (or, for fiscal quarters ending in December, $ 15,000,000 ), which applies only for the fiscal quarters ending September 30, 2023 through and including December 31, 2024 (the “Covenant Modification Period”); (v) suspends the minimum fixed charge coverage ratio covenant for the fiscal quarters ending September 30, 2023 through and including June 30, 2024 and provides for a step-down of the minimum fixed charge coverage ratio to 1.00:1.00 for the remainder of the Covenant Modification Period; (vi) adds an equity cure right for the Company in the event of future breaches of the financial covenants; (vii) reduces revolver availability by (1) $ 15,000,000 during the months of February through September of each year and (2) $ 10,000,000 during the months of October through January of each year; (viii) suspends the exercise of incremental facilities during the Covenant Modification Period; (ix) restricts all permitted acquisitions during the term of the credit facilities, unless previously approved by the required Lenders; (x) increases in the applicable margin for all credit facilities to 3.00 % for SOFR Loans and 2.00 % for ABR Loans, which margins will step-up further if certain prepayments of the Term Loans are not made by certain dates prescribed in the Amendment; (xi) adds additional mandatory prepayments of (1) $ 10,000,000 by no later than March 31, 2024, (2) an additional $ 10,000,000 by no later than June 30, 2024 and (3) an additional $ 25,000,000 by no later than December 31, 2024; (xii) adds additional mandatory prepayments in the event that the Borrowers maintain a cash balance in excess of $ 20,000,000 ; (xiii) permits additional sales of certain real property with an aggregate appraised value of approximately $ 60,000,000 , in addition to related personal property assets; and (xiv) adds certain additional reporting requirements to Agent and the Lenders.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 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 September 30, 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 2023 and 2022 in these condensed consolidated financial statements are to the fiscal years ending or ended June 30, 2023 and June 30, 2022, 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. Inflation and supply chain constraints, as well as the ongoing COVID-19 pandemic ("COVID-19"), continue to disrupt the U.S. and global economies and there remains uncertainty about the impact on the economy. We cannot estimate with any certainty the length or severity of the economic uncertainties or the related financial consequences on our business and operations, including whether and when historic economic and operating conditions will resume or the extent to which the disruption may impact our business, financial position, results of operations or cash flows. Management expects economic uncertainties including inflation and supply chain constraints to continue to impact several areas of the business including sales, cost of goods, operating expenses and cash flows. In the opinion of management, all adjustments necessary for a fair presentation of the unaudited condensed consolidated financial statements have been included in this Form 10-Q/A. 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 2023 interim period are not necessarily indicative of the results that may be expected for the full fiscal year ending June 30, 2023 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, 2023, filed with the SEC on October 13, 2023. The June 30, 2022 condensed consolidated balance sheet was derived from the audited consolidated financial statements as of that date.
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 credit losses, 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, the estimated fair value of long-term debt, the valuation of interest rate swaps, contingent consideration, common stock, stock-based compensation, accounting for income taxes and net assets held for sale. Actual results could differ materially from those estimates.
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) September 30, 2022 June 30, 2022 As Restated Cash and cash equivalents $ 45,920 $ 44,758 Restricted cash - 4,800 Total cash, cash equivalents and restricted cash as shown in the consolidated statement of cash flows $ 45,920 $ 49,558 In connection with the amended and restated loan and security agreement (see Note 11), the Company entered into a Deposit Control Agreement which required $ 4.8 million of the total cash received to be placed into a restricted cash collateral account, subject to release upon the completion of certain construction work and certificates of occupancy associated with the Ray's Station production facility. In July 2022, the Deposit Control Agreement was terminated upon certification that the conditions to Ray's Station were satisfied.
Accounts Receivable and Allowance for Credit Losses	Accounts Receivable and Allowance for Credit Losses The Company adopted Accounting Standards Update ("ASU") ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) a nd its related amendments as of July 1, 2022, see “Recently Adopted Accounting Pronouncements” below. Accounts receivable are recorded at the invoiced amount. We consider an account past due on the first day following its due date. We monitor past due accounts periodically and establish appropriate reserves to cover expected losses, and consider historical experience, the current economic environment, customer credit ratings or bankruptcies and reasonable and supportable forecasts to develop our allowance for expected credit losses. We review these factors quarterly to determine if any adjustments are needed to the allowance. Account balances are written-off against the established allowance when we feel it is probable the receivable will not be recovered. The provision for credit losses for the periods ended September 30, 2022 and June 30, 2022, was $ 0.4 million. We do not accrue interest on past-due amounts. Bad debt expense was insignificant for all reporting periods presented. Other receivables include insurance related receivables, income tax receivable and other miscellaneous receivables.
Disaggregation Of Revenue	Disaggregation of Revenue The following table summarizes revenue by geographic region: Three Months Ended September 30, (in thousands) 2022 2021 As Restated Geographic regions: United States $ 77,543 $ 54,498 International 537 1,537 Total net revenue $ 78,080 $ 56,035 The following table provides a disaggregation of revenue based on the pattern of revenue recognition: Three Months Ended September 30, (in thousands) 2022 2021 As Restated Point in time $ 66,431 $ 47,170 Over a period of time 11,649 8,865 Total net revenue $ 78,080 $ 56,035
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 September 30, 2022 and June 30, 2022, we had $ 45.2 million and $ 49.0 million respectively, in major financial institutions 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 of: Three Months Ended September 30, 2022 2021 Revenue as a percent of total revenue Customer A 19.2 % 25.5 % Customer B * 12.6 % The following table summarizes customer concentration of: September 30, 2022 June 30, 2022 Receivables as a percent of total receivables Customer A 35.0 % 26.0 % Customer B * * * Customer revenue or receivables did not exceed 10% in the respective periods. Revenue for sales from Customer A are included within the Wholesale and Business-to-Business segments and Customer B are included within the Business-to-Business segment.
Principal vs. Agent Considerations	Principal vs. Agent Considerations As part of our revenue recognition process, we evaluate whether we are the principal or agent for the performance obligations in our contracts with customers. When we determine that we are the principal for a performance obligation, we recognize revenue for that performance obligation on a gross basis. When we determine that we are an agent for a performance obligation, we recognize revenue for that performance obligation net of the related costs. In determining whether we are the principal or the agent, we evaluate whether we have control of the goods or services before we transfer the goods or services to the customer by considering whether we are primarily obligated for transferring the goods or services to the customer, whether we have inventory risk for the goods or services before the goods or services are transferred to the customer, and whether we have latitude in establishing prices.
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.
Leases	Leases The Company adopted ASU 2016-02, Leases ("Topic 842") and its related amendments as of July 1, 2022, see “Recently Adopted Accounting Pronouncements” below. The Company has both operating leases and finance leases. The Company’s non-cancelable leases for winery facilities, vineyards, corporate and administrative offices, tasting rooms, and some equipment are classified as operating leases. The Company’s non-cancelable leases for certain equipment that include a bargain purchase option at the end of the lease term are classified as finance leases. The Company recognizes a right of use (“ROU”) asset representing its right to use the underlying asset for the lease term on the condensed consolidated balance sheet and related lease liabilities representing its obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Because the rate implicit in each lease is not readily determinable, the Company uses its incremental borrowing rate to determine the present value of the lease payments. The ROU asset also includes adjustments for lease incentives receivable, deferred rent and prepaid rent when applicable. The Company’s lease terms may include options to extend the lease when it is reasonably certain that the Company will exercise that option. The Company has made an accounting policy election not to recognize ROU assets and lease obligations for its short-term leases, which are defined as leases with an initial term of 12 months or less. However, the Company will recognize these lease payments in the condensed consolidated statements of operations and comprehensive income (loss) on a straight-line basis over the lease term and variable lease payments in the period in which the obligation is incurred. Lease expense for operating leases is recognized on a straight-line basis over the lease term. For finance leases, the right-of-use asset is amortized to amortization expense and interest expense is recorded in connection with the lease liability. Payments under lease arrangements are primarily fixed, however, most lease agreements also contain some variable payments. Variable lease payments other than those that depend on an index or a rate are expensed as incurred and not included in the operating lease ROU assets and lease liabilities. These amounts primarily include payments for taxes, parking and common area expenses. See Note 10.
Assets Held for Sale	Assets Held for Sale The Company classifies an asset group (‘asset’) as held for sale in the period that (i) it has approved and committed to a plan to sell the asset, (ii) the asset is available for immediate sale in its present condition, (iii) an active program to locate a buyer and other actions required to sell the asset have been initiated, (iv) the sale of the asset is probable and transfer of the asset is expected to qualify for recognition as a completed sale within one year (subject to certain events or circumstances), (v) the asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value, and (vi) it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. The Company initially and subsequently measures a long-lived asset that is classified as held for sale at the lower of its carrying value or fair value less any costs to sell. Any loss resulting from this measurement is recognized in selling, general and administrative expenses in the period in which the held for sale criteria are met. Conversely, gains are generally not recognized on the sale of a long-lived asset until the date of sale. Upon designation as an asset held for sale, the Company stops recording depreciation or amortization expense on the asset. The Company assesses the fair value of assets held for sale less any costs to sell at each reporting period until the asset is no longer classified as held for sale.
Casualty Gains	Casualty Gains We suffered smoke-tainted inventory damage resulting from the October 2017 Napa and Sonoma County wildfires. We filed an insurance claim for this damage, which was settled in fiscal 2021 for approximately $ 3.8 million, net of legal costs. In fiscal 2022, we received an additional $ 2.7 million, net of legal costs, related to wildfire claims. During the three months ended September 30, 2022, we received an additional $ 0.5 million. The gain on litigation proceeds consists of payments we received from our insurer.
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 Interim Chief Executive Officer, allocates resources and assesses performance based upon discrete financial information at the segment level.
Earnings Per Share	Earnings Per Share 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, 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 Company does not pay dividends or have participating shares outstanding.
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 February 2016, the FASB issued 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 the lease is effectively a financed purchase by the lessee. This classification determines 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 its classification. Leases with a term of 12 months or less are accounted for in the Company's consolidated statements of operations. The Company adopted Topic 842 effective July 1, 2022 using the modified retrospective approach, whereby we recognized a transition adjustment at the effective date of Topic 842, rather than at the beginning of the earliest comparative period presented. Prior period information was not restated. In addition, the Company applied the package of transition practical expedients, which allows the Company to carryforward its population of existing leases, the classification of each lease and the treatment of initial direct costs as of the period of adoption. The Company did not elect the practical expedient related to hindsight analysis which allows a lessee to use hindsight in determining the lease term and in assessing impairment of the entity’s ROU assets. The Company identified the population of real estate and equipment leases to which the guidance applies and implemented changes in its systems, procedures and controls relating to how lease information is obtained, processed and analyzed. In connection with the restatement, the Company has reclassified the deferred gain related to a previous sale and leaseback of $ 7.8 million, net of taxes of $ 2.9 million, to retained earnings. Refer to Note 2. Further, the Company recognized $ 37.6 million in ROU assets that represent the Company's right to use the underlying assets for the lease term and $ 39.2 million in lease obligations that represent the Company's obligation to make lease payments arising from the lease. The ROU assets recognized upon adoption of Topic 842, included the reclassification of approximately $ 2.1 million of deferred rent and $ 0.4 million of prepaid rent. See Note 10. 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 Company adopted ASU No. 2016-13, as amended effective July 1, 2022. We consider historical experience, the current economic environment, customer credit ratings or bankruptcies, and reasonable and supportable forecasts to develop our allowance for credit losses. We review these factors quarterly to determine if any adjustments are needed to the allowance. This guidance did not have a material impact on our condensed consolidated financial statements. Recently Issued Accounting Pronouncements The recently issued accounting pronouncements are not expected to have an impact on the Company.

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Tables)	3 Months Ended
	Sep. 30, 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) September 30, 2022 June 30, 2022 As Restated Cash and cash equivalents $ 45,920 $ 44,758 Restricted cash - 4,800 Total cash, cash equivalents and restricted cash as shown in the consolidated statement of cash flows $ 45,920 $ 49,558
Summary of Revenue by Segment and Region	The following table summarizes revenue by geographic region: Three Months Ended September 30, (in thousands) 2022 2021 As Restated Geographic regions: United States $ 77,543 $ 54,498 International 537 1,537 Total net revenue $ 78,080 $ 56,035
Summary of Disaggregation of Revenue	The following table provides a disaggregation of revenue based on the pattern of revenue recognition: Three Months Ended September 30, (in thousands) 2022 2021 As Restated Point in time $ 66,431 $ 47,170 Over a period of time 11,649 8,865 Total net revenue $ 78,080 $ 56,035
Schedules of Customer Concentration Risk	The following table summarizes customer concentration of: Three Months Ended September 30, 2022 2021 Revenue as a percent of total revenue Customer A 19.2 % 25.5 % Customer B * 12.6 % The following table summarizes customer concentration of: September 30, 2022 June 30, 2022 Receivables as a percent of total receivables Customer A 35.0 % 26.0 % Customer B * * * Customer revenue or receivables did not exceed 10% in the respective periods.

Restatement, Reclassification_2

Restatement, Reclassification and Revision of Previously Issued Condensed Consolidated Financial Statements (Tables)	3 Months Ended
	Sep. 30, 2022
Accounting Changes and Error Corrections [Abstract]
Schedule of Restatement of Previously Issued Condensed Consolidated Financial Statements	CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited) September 30, 2022 (in thousands) As Previously Reported Adjustments As Restated Assets Current assets: Cash and cash equivalents $ 44,622 $ 1,298 $ 45,920 Inventories 200,759 ( 1,087 ) 199,672 Assets held for sale 6,553 6,668 13,221 Total current assets 309,536 6,879 316,415 Property, plant, and equipment, net 228,204 ( 3,738 ) 224,466 Intangible assets, net 62,672 ( 1,281 ) 61,391 Total assets $ 809,303 $ 1,860 $ 811,163 Liabilities, redeemable noncontrolling interest, and stockholders' equity Current liabilities: Accounts payable $ 20,352 $ 1,298 $ 21,650 Accrued liabilities and other payables 28,279 432 28,711 Total current liabilities 208,895 1,730 210,625 Deferred tax liability 29,952 4,584 34,536 Deferred gain 10,332 ( 10,332 ) - Total liabilities 453,137 ( 4,018 ) 449,119 Stockholders' equity: Additional paid-in capital 382,376 ( 3,009 ) 379,367 Accumulated deficit (retained earnings) ( 864 ) 9,056 8,192 Total Vintage Wine Estates, Inc. stockholders' equity 355,478 6,047 361,525 Noncontrolling interests ( 594 ) ( 169 ) ( 763 ) Total stockholders' equity 354,884 5,878 360,762 Total liabilities, redeemable noncontrolling interest, and stockholders' equity $ 809,303 $ 1,860 $ 811,163 Regarding the previously reported unaudited condensed consolidated statement of operations for the three months ended September 30, 2022, the following table presents the impact of the restatement of $ 0.3 million amortization, adjusted through gain on sale leaseback, of a deferred gain of $ 10.7 million arising from a prior-year sale leaseback transaction that should have been recognized as a cumulative-effect adjustment to equity as part of the implementation of ASC 842 . In addition, the Company is adjusting for certain immaterial out-of-period items, reclassifications and other adjustments including but not limited to: (i) $ 1.2 million adjustment to cost of revenue due to out-of-period items related primarily to a non-recurring adjustment related to insurance due to the formation of VWE Captive, LLC; (ii) $ 1.6 million adjustment to selling, general and administrative expense due to a non-recurring adjustment for historical acquisitions; and (iii) $ 1.2 million adjustment to selling, general and administrative expense due to an overstatement of stock-based compensation expense arising from an incorrect service period used in expense recognition. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) Three Months Ended September 30, 2022 (in thousands, except share and per share amounts) As Previously Reported Adjustments As Restated Net revenue Wine, spirits and cider $ 51,419 $ 851 $ 52,270 Total net revenue 77,229 851 78,080 Cost of revenue Wine, spirits and cider 34,631 ( 1,610 ) 33,021 Nonwine 14,938 591 15,529 Total cost of revenue 49,569 ( 1,019 ) 48,550 Gross profit 27,660 1,870 29,530 Selling, general, and administrative expenses 33,707 ( 2,258 ) 31,449 Loss on remeasurement of contingent liability 826 ( 641 ) 185 Gain on sale leaseback ( 334 ) 334 - Gain on sale of property, plant, and equipment ( 118 ) 118 - Loss from operations ( 7,702 ) 4,317 ( 3,385 ) (Loss) income before provision for income taxes ( 1,485 ) 4,317 2,832 Income tax provision ( 849 ) 2,323 1,474 Net (loss) income ( 636 ) 1,994 1,358 Net loss attributable to the noncontrolling interests ( 343 ) 169 ( 174 ) Net (loss) income attributable to Vintage Wine Estates, Inc. ( 293 ) 1,825 1,532 Net (loss) income allocable to common stockholders $ ( 293 ) $ 1,825 $ 1,532 Net earnings (loss) per share allocable to common stockholders Basic $ ( 0.00 ) $ 0.03 $ 0.03 Diluted $ ( 0.00 ) $ 0.03 $ 0.03 The following table presents the impact of the adjustments and reclassifications discussed above on the unaudited condensed consolidated cash flow statement for the three months ending September 30, 2022: CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Three Months Ended September 30, 2022 (in thousands) As Previously Reported Adjustments As Restated Cash flows from operating activities Net (loss) income $ ( 636 ) $ 1,994 $ 1,358 Adjustments to reconcile net (loss) income to net cash from operating activities: Depreciation 3,215 781 3,996 Amortization expense 1,978 ( 98 ) 1,880 Amortization of deferred loan fees and line of credit fees - 98 98 Remeasurement of contingent consideration liabilities 826 ( 641 ) 185 Stock-based compensation expense 4,651 ( 1,211 ) 3,440 Provision for doubtful accounts ( 280 ) 272 ( 8 ) (Benefit) provision for deferred income tax ( 27 ) 2,323 2,296 Gain on disposition of assets ( 118 ) 118 - Deferred gain on sale leaseback ( 334 ) 334 - Deferred rent ( 2,079 ) 2,079 - Change in operating assets and liabilities (net of effect of business combinations): Accounts receivable 48 ( 595 ) ( 547 ) Inventories ( 6,957 ) 4 ( 6,953 ) Prepaid expenses and other current assets 3,916 ( 1,528 ) 2,388 Accounts payable 2,363 ( 260 ) 2,103 Accrued liabilities and other payables 5,293 ( 1,591 ) 3,702 Net change in lease assets and liabilities 1,288 ( 2,079 ) ( 791 ) Net cash provided by operating activities 1,988 - 1,988 Cash flows from financing activities Outstanding checks in excess of cash 4,042 2,032 6,074 Net cash used in financing activities ( 4,204 ) 2,032 ( 2,172 ) Net change in cash, cash equivalents and restricted cash ( 5,670 ) 2,032 ( 3,638 ) Cash, cash equivalents and restricted cash, beginning of period 50,292 ( 734 ) 49,558 Cash, cash equivalents and restricted cash, end of period $ 44,622 $ 1,298 $ 45,920 Supplemental cash flow information Noncash investing and financing activities: Increase in finance lease assets and liabilities upon adoption of ASC 842 $ 759 $ ( 692 ) $ 67 CONSOLIDATED BALANCE SHEET June 30, 2022 (in thousands) As Previously Reported Adjustments As Revised Assets Current assets: Cash and cash equivalents $ 43,692 $ 1,066 $ 44,758 Restricted cash 6,600 ( 1,800 ) 4,800 Accounts receivable, net 38,192 ( 323 ) 37,869 Inventories 192,102 820 192,922 Prepaid expenses and other current assets 13,394 ( 1,530 ) 11,864 Total current assets 300,723 ( 1,767 ) 298,956 Property, plant, and equipment, net 236,100 2,619 238,719 Intangible assets, net 64,377 ( 1,280 ) 63,097 Total assets $ 765,895 $ ( 428 ) $ 765,467 Liabilities, redeemable noncontrolling interest, and stockholders' equity Current liabilities: Accounts payable $ 13,947 $ ( 474 ) $ 13,473 Accrued liabilities and other payables 24,204 2,793 26,997 Total current liabilities 197,275 2,319 199,594 Other long-term liabilities 6,491 564 7,055 Deferred tax liability 29,979 ( 654 ) 29,325 Total liabilities 413,506 2,229 415,735 Redeemable noncontrolling interest 1,663 ( 169 ) 1,494 Stockholders' equity: Additional paid-in capital 377,897 ( 1,798 ) 376,099 Accumulated deficit ( 571 ) ( 521 ) ( 1,092 ) Total Vintage Wine Estates, Inc. stockholders' equity 351,292 ( 2,319 ) 348,973 Noncontrolling interests ( 566 ) ( 169 ) ( 735 ) Total stockholders' equity 350,726 ( 2,488 ) 348,238 Total liabilities, redeemable noncontrolling interest, and stockholders' equity $ 765,895 $ ( 428 ) $ 765,467 The following table presents the impact of certain immaterial out-of-period items, reclassifications and other adjustments to our previously reported unaudited condensed consolidated statement of operations for the three months ending September 30, 2021 including but not limited to a $ 3.1 million adjustment to cost of revenue: wine, spirits and cider due to an understatement of costs resulting from incorrect overhead absorption. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) Three Months Ended September 30, 2021 (in thousands, except share and per share amounts) As Previously Reported Adjustments As Revised Net revenue Wine, spirits and cider $ 36,287 $ 348 $ 36,635 Total net revenue 55,687 348 56,035 Cost of revenue Wine, spirits and cider 20,588 3,132 23,720 Total cost of revenue 32,250 3,132 35,382 Gross profit 23,437 ( 2,784 ) 20,653 Selling, general, and administrative expenses 16,983 ( 5 ) 16,978 Amortization expense 651 - 651 Loss on remeasurement of contingent liability - 155 155 (Loss) from operations 6,143 ( 2,934 ) 3,209 Other income (expense) Net unrealized gain on interest rate swap agreements 1,393 179 1,572 Total other income, net ( 2,171 ) 179 ( 1,992 ) Income before provision for income taxes 3,972 ( 2,755 ) 1,217 Income tax provision 1,193 ( 744 ) 449 Net income 2,779 ( 2,011 ) 768 Net income attributable to Vintage Wine Estates, Inc. 2,754 ( 1,961 ) 793 Net income allocable to common stockholders $ 2,754 $ ( 1,961 ) $ 793 Net earnings per share allocable to common stockholders Basic $ 0.05 $ ( 0.04 ) $ 0.01 Diluted $ 0.05 $ ( 0.04 ) $ 0.01 The following table presents the impact of the adjustments and reclassifications discussed above on the unaudited condensed consolidated cash flow statement for the three months ending September 30, 2021: CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Three Months Ended September 30, 2021 (in thousands) As Previously Reported Adjustments As Revised Cash flows from operating activities Net income $ 2,779 ( 2,011 ) $ 768 Adjustments to reconcile net income to net cash from operating activities: Depreciation 3,503 ( 2,001 ) 1,502 Amortization expense 750 ( 99 ) 651 Amortization of deferred loan fees and line of credit fees - 99 99 Remeasurement of contingent consideration liabilities - 155 155 Net unrealized gain on interest rate swap agreements ( 1,393 ) ( 179 ) ( 1,572 ) (Benefit) provision for deferred income tax - ( 1,059 ) ( 1,059 ) Change in operating assets and liabilities (net of effect of business combinations): Inventories ( 4,671 ) 4,227 ( 444 ) Accrued liabilities and other payables 1,356 1,704 3,060 Other - ( 836 ) ( 836 ) Net cash provided by operating activities ( 2,020 ) - ( 2,020 )

Business Combinations (Tables)

Business Combinations (Tables)	3 Months Ended
	Sep. 30, 2022
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 Total identifiable assets acquired 7,523 Goodwill $ 9,477
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 ( 6,554 ) Total identifiable assets acquired 19,901 Goodwill $ 27,539
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 12,859 Inventory 4,280 Other assets 356 Trademarks 700 Customer relationships 6,400 Accounts payable and accrued expenses ( 2,682 ) Deferred tax liability ( 6,033 ) Total identifiable assets acquired 19,549 Goodwill $ 8,247

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consists of the following: (in thousands) September 30, 2022 June 30, 2022 As Restated Bulk wine, spirits and cider $ 91,848 $ 88,978 Bottled wine, spirits and cider 88,201 86,785 Bottling and packaging supplies 18,367 16,328 Nonwine inventory 1,256 831 Total inventories $ 199,672 $ 192,922

Assets Held for Sale (Tables)

Assets Held for Sale (Tables)	3 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract]
Schedule of Carrying Amounts of Assets Held for Sale	The carrying amounts of assets held for sale consists of the following: (in thousands) September 30, 2022 Laetitia vineyards land held for sale $ 13,233 Tamarack Cellars property, plant and equipment held for sale 2,767 Less accumulated depreciation and amortization ( 2,779 ) Total assets held for sale $ 13,221

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment consists of the following: (in thousands) September 30, 2022 June 30, 2022 As Restated Buildings and improvements $ 138,875 $ 139,223 Land 35,318 46,632 Machinery and equipment 77,935 77,676 Cooperage 9,289 10,165 Vineyards 10,968 12,860 Furniture and fixtures 1,796 1,754 274,181 288,310 Less accumulated depreciation and amortization ( 68,032 ) ( 66,987 ) 206,149 221,323 Construction in progress 18,317 17,396 $ 224,466 $ 238,719

Goodwill and Intangibles Asse_2

Goodwill and Intangibles Assets (Tables)	3 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Components of Finite-Lived Intangible Assets, Accumulated Amortization, and Indefinite-Lived Assets	The following tables summarize other intangible assets by class: September 30, 2022 (in thousands) Gross Accumulated Net Intangible Weighted Average Remaining Amortization Period (in years) Indefinite-life intangibles As Restated As Restated As Restated Trade names and trademarks $ 28,922 $ - $ 28,922 N/A Winery use permits 6,750 - 6,750 N/A Total Indefinite-life intangibles 35,672 - 35,672 Definite-life intangibles Customer and Sommelier relationships 30,700 ( 6,523 ) 24,177 4.2 Trade names and trademarks 1,900 ( 358 ) 1,542 3.7 Total definite-life intangibles 32,600 ( 6,881 ) 25,719 Total other intangible assets $ 68,272 $ ( 6,881 ) $ 61,391 June 30, 2022 (in thousands) Gross Accumulated Accumulated Impairment Losses Net Intangible Weighted Average Remaining Amortization Period (in years) Indefinite-life intangibles Trade names and trademarks $ 30,203 $ - $ ( 1,281 ) $ 28,922 N/A Winery use permits 6,750 - - 6,750 N/A Total Indefinite-life intangibles 36,953 - ( 1,281 ) 35,672 Definite-life intangibles Customer and Sommelier relationships 30,700 ( 4,922 ) - 25,778 4.4 Trade names and trademarks 1,900 ( 253 ) - 1,647 3.5 Total definite-life intangibles 32,600 ( 5,175 ) - 27,425 Total other intangible assets $ 69,553 $ ( 5,175 ) $ ( 1,281 ) $ 63,097
Estimated Future Amortization Expense for Finite-Lived Intangible Assets	As of September 30, 2022, estimated future amortization expense for definite-lived assets is as follows: (in thousands) 2023 remaining $ 5,116 2024 6,811 2025 5,292 2026 4,527 2027 3,179 Thereafter 794 Total estimated amortization expense $ 25,719

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
Schedule Of Accrued Liabilities	The major classes of accrued liabilities are summarized as follows: September 30, 2022 June 30, 2022 (in thousands) As Restated Accrued purchases $ 13,573 $ 6,728 Accrued employee compensation 4,551 5,580 Other accrued expenses 5,102 8,867 Non related party accrued interest expense 517 429 Contingent consideration 3,256 2,710 Unearned Income 296 642 Captive insurance liabilities 1,416 2,041 Total Accrued liabilities and other payables $ 28,711 $ 26,997

Long-Term and Other Short-Ter_2

Long-Term and Other Short-Term Obligations (Tables)	3 Months Ended
	Sep. 30, 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) September 30, 2022 June 30, 2022 Note to a bank with interest at LIBOR ( 1.76 %) at September 30, 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. $ 75,726 $ 76,792 Capital expenditures borrowings payable at LIBOR ( 0.50 %) at September 30, 2022 and June 30, 2022 plus 1.75 %, payable in quarterly installments of $ 1,077 at September 30, 2022 and June 30, 2022 with draw expiring July, 2026. 39,699 40,776 Note to a bank with interest fixed at 3.6 %, payable in monthly installments of $ 60 principal with applicable interest; matures in April 2023 . 418 593 Note to a bank with interest fixed at 2.75 %, payable in monthly installments of $ 61 principal with March 2024 . 1,071 1,246 Delayed Draw Term Loan ("DDTL") with interest at LIBOR ( 2.32 %) at September 2022 plus 1.75 %, payable in quarterly installments of $ 1,260 starting March 2022. Matures in July 2024 . 64,622 65,882 181,536 185,289 Less current maturities ( 14,738 ) ( 14,909 ) Less unamortized deferred financing costs ( 1,221 ) ( 1,285 ) $ 165,577 $ 169,095
Schedule of Maturities of Long-term and Other Short-term Borrowings	As of September 30, 2022, maturities of long-term and other short-term borrowings for succeeding years are as follows: For the years ended June 30, Remaining 2023 $ 11,156 2024 14,152 2025 64,372 2026 8,571 2027 83,285 $ 181,536

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Sep. 30, 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: September 30, 2022 (in thousands) Level 1 Level 2 Level 3 Total Assets: Money market funds $ 36,738 $ - $ - $ 36,738 Interest rate swaps (1) 18,381 18,381 Total $ 36,738 $ 18,381 $ - $ 55,119 Liabilities: Contingent consideration liabilities (2) $ - $ - $ 9,302 $ 9,302 Total $ - $ - $ 9,302 $ 9,302 June 30, 2022 (in thousands) Level 1 Level 2 Level 3 Total Assets: Money market funds $ 36,616 $ - $ - $ 36,616 Interest rate swaps (1) 9,157 9,157 Total $ 36,616 $ 9,157 $ - $ 45,773 Liabilities: Contingent consideration liabilities (2) $ - $ - $ 9,156 $ 9,156 Total $ - $ - $ 9,156 $ 9,156 (1) 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. (2) 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.
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): Contingent (in thousands) As Restated Balance at June 30, 2022 $ 9,156 Acquisitions - Payments ( 39 ) Change in fair value 185 Balance at September 30, 2022 9,302 Less: current portion ( 3,256 ) Long term portion $ 6,046

Leases (Tables)

Leases (Tables)	3 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Schedule of Components of Lease Expense	The following table summarizes the components of lease expense: Three Months Ended (in thousands) September 30, 2022 Operating lease expense $ 1,808 Finance lease expense Amortization of right-of-use assets 70 Interest on lease liabilities 9 Total finance lease expense 79 Variable lease expense 157 Short-term lease expense 35 Total lease expense $ 2,079
Schedule of Supplemental Balance Sheet Related to Leases	The following table summarizes supplemental balance sheet related to leases: (in thousands) September 30, 2022 Operating Leases Operating lease right-of-use assets $ 35,509 Current portion of operating lease liabilities 5,197 Long-term operating lease liabilities 31,637 Total operating lease liabilities 36,834 Finance Leases Finance lease right-of-use assets 689 Current portion of finance lease liabilities 263 Long-term finance lease liabilities 429 Total finance lease liabilities $ 692
Schedule of Weighted Average Remaining Lease Term and Discount Rate	The following table summarizes the weighted-average remaining lease term and discount rate: Weighted-average remaining lease term (in years) Operating leases 6.7 Finance leases 2.8 Weighted-average discount rate Operating leases 5.0 % Finance leases 5.0 %
Schedule of Future Minimum Lease Payments	The minimum annual payments under our lease agreements as of September 30, 2022 are as follows: (in thousands) Operating Leases Finance Leases Remaining fiscal 2023 $ 4,795 $ 219 2024 6,849 285 2025 6,529 157 2026 6,521 79 2027 6,195 - 2028 and thereafter 12,479 - Total lease payments 43,368 740 Less imputed interest ( 6,534 ) ( 48 ) Present value of lease liabilities 36,834 692 Current portion of lease liabilities ( 5,197 ) ( 263 ) Total long term lease liabilities $ 31,637 $ 429 * Table excludes obligations for leases with original terms of 12 months or less which have not been recognized as ROU assets or liabilities in our condensed consolidated balance sheets.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Sep. 30, 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: September 30, 2022 June 30, 2022 Warrants 25,646,453 25,818,247 Earnout shares 5,726,864 5,726,864 Total 31,373,317 31,545,111
Schedule of Share-Based Compensation Expense	The following table provides total stock-based compensation expense by award type: Three Months Ended September 30, 2022 September 30, 2021 (in thousands) As Restated Stock option awards $ 489 $ - Restricted stock units 2,951 - Total stock-based compensation $ 3,440 $ -
Summary of Stock Options Activity	The following table presents a summary of stock option activity under the 2021 Plan: As Restated Stock Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (Years) (As Restated) Aggregate Intrinsic Value Outstanding at June 30, 2022 3,503,527 $ 10.50 8.9 $ - Granted 173,364 10.50 10.0 - Exercised - - - - Forfeited or cancelled ( 1,250 ) 10.50 - - Outstanding at September 30, 2022 3,675,641 $ 10.50 9.0 -
Summary of Restricted Stock Units Activity	The following table presents a summary of restricted stock units activity for the periods presented: As Restated Restricted Stock Units Weighted-Average Grant Date Fair Value Outstanding at June 30, 2022 1,902,068 $ 8.14 Granted 88,587 5.66 Issued - - Forfeited or cancelled - - Outstanding at September 30, 2022 1,990,655 $ 8.03
Summary of Changes in Repurchases of Common Stock and Warrants	The table below summarizes the changes in repurchases of common stock and warrants: (in thousands) September 30, 2022 Balance at June 30, 2022 3,053,447 Repurchases of common stock - Repurchases of warrants 171,994 Balance at September 30, 2022 3,225,441

Commitments and Contingencies -

Commitments and Contingencies - (Tables)	3 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Purchase Commitments	Estimated future minimum grape and bulk wine purchase commitments are as follows: (in thousands) Total Remaining 2023 $ 40,524 2024 20,706 2025 18,158 $ 79,388

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Schedule of Future Minimum Lease Payments	The minimum annual payments under our lease agreements as of September 30, 2022 are as follows: (in thousands) Operating Leases Finance Leases Remaining fiscal 2023 $ 4,795 $ 219 2024 6,849 285 2025 6,529 157 2026 6,521 79 2027 6,195 - 2028 and thereafter 12,479 - Total lease payments 43,368 740 Less imputed interest ( 6,534 ) ( 48 ) Present value of lease liabilities 36,834 692 Current portion of lease liabilities ( 5,197 ) ( 263 ) Total long term lease liabilities $ 31,637 $ 429 * Table excludes obligations for leases with original terms of 12 months or less which have not been recognized as ROU assets or liabilities in our condensed consolidated balance sheets.

Segments (Tables)

Segments (Tables)	3 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Summary of Revenue by Segment and Region	The following tables present net revenue and income from operations directly attributable to the Company's segments: Three Months Ended September 30, 2022 As Restated (in thousands) Wholesale Direct-to-Consumer Business-to-Business Other Total Segment Results Net revenue $ 23,987 $ 19,992 $ 34,180 $ ( 79 ) $ 78,080 Income (loss) from operations $ 2,288 $ 1,969 $ 10,533 $ ( 18,175 ) $ ( 3,385 ) Three Months Ended September 30, 2021 (in thousands) Wholesale Direct-to-Consumer Business-to-Business Other Total Segment Results Net revenue $ 16,203 $ 15,263 $ 24,467 $ 102 $ 56,035 Income (loss) from operations $ 3,042 $ 2,031 $ 6,229 $ ( 8,093 ) $ 3,209
Summary of Depreciation Expense Recognized by Operating Segment	Depreciation expense recognized by operating segment is summarized below: (in thousands) Wholesale Direct-to-Consumer Business-to-Business Other Total For the periods ended September 30: 2022 $ 40 $ 291 $ 235 $ 448 $ 1,014 2021 $ - $ 300 $ - $ - $ 300
Summary of Amortization Expense Recognized by Operating Segment	Amortization expense recognized by operating segment is summarized below: (in thousands) Wholesale Direct-to-Consumer Business-to-Business Other Total For the periods ended September 30: 2022 $ 596 $ 745 $ 364 $ - $ 1,705 2021 $ 10 $ 613 $ 3 $ 25 $ 651

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Sep. 30, 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 September 30, 2022 2021 (in thousands, except for per share amounts) As Restated Net income $ 1,358 $ 768 Less: loss allocable to noncontrolling interest ( 174 ) ( 25 ) Net income allocable to common shareholders $ 1,532 $ 793 Numerator – Basic EPS Net income allocable to common shareholders $ 1,532 $ 793 Net income allocated to common shareholders $ 1,532 $ 793 Numerator – Diluted EPS Net income allocated to common shareholders $ 1,532 $ 793 Net income allocated to common shareholders $ 1,532 $ 793 Denominator – Basic Common Shares Weighted average common shares outstanding - Basic 58,819,160 60,461,611 Denominator – Diluted Common Shares Weighted average common shares - Diluted 58,819,160 60,461,611 Net income per share – basic: Common Shares $ 0.03 $ 0.01 Net income per share – diluted: Common Shares $ 0.03 $ 0.01
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 September 30, 2022 2021 Shares subject to warrants to purchase common stock 25,646,453 26,000,000 Shares subject to options to purchase common stock 3,675,641 - Total 29,322,094 26,000,000

Basis of Presentation and Sig_4

Basis of Presentation and Significant Accounting Policies - Additional information (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2022 USD ($) Segment	Sep. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)
Subsidiary Sale Of Stock [Line Items]
Restricted Cash	$ 0		$ 4,800
Amortization expense	1,880	$ 651
Cash deposited FDIC insurance limits	45,200		49,000
Insurance claim settlement amount received	500		2,700	$ 3,800
Provision of doubtful accounts	$ 400		400
Number of reporting segments | Segment	3
ROU assets Deferred rent reclassification	$ 2,100
Deferred gain	0		$ 10,666
ROU assets Prepaid rent reclassification	400
Operating Lease Payments	39,200
Right Of Use Assets Recognized	37,600
Retained Earnings [Member]
Subsidiary Sale Of Stock [Line Items]
Sale leaseback transaction deferred gain	7,800
Sale leaseback transaction net of tax	2,900
Loan And Security Agreement [Member]
Subsidiary Sale Of Stock [Line Items]
Cash collateral for borrowed securities	$ 4,800

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	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Jun. 30, 2021
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 45,920	$ 44,758
Restricted Cash	0	4,800
Total cash, cash equivalents and restricted cash as shown in the statement of cash flows	$ 45,920	$ 49,558	$ 123,075	$ 123,679

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
	Sep. 30, 2022	Sep. 30, 2021
Disaggregation Of Revenue [Line Items]
Total net revenue	$ 78,080	$ 56,035
United States
Disaggregation Of Revenue [Line Items]
Total net revenue	77,543	54,498
International
Disaggregation Of Revenue [Line Items]
Total net revenue	$ 537	$ 1,537

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
	Sep. 30, 2022	Sep. 30, 2021
Disaggregation Of Revenue [Line Items]
Total net revenue	$ 78,080	$ 56,035
Point in Time
Disaggregation Of Revenue [Line Items]
Total net revenue	66,431	47,170
Over a period of Time
Disaggregation Of Revenue [Line Items]
Total net revenue	$ 11,649	$ 8,865

Basis of Presentation and Sig_8

Basis of Presentation and Significant Accounting Policies - Schedules of Customer Concentration Risk (Details) - Customer Concentration	3 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022
Customer A | Revenue
Concentration Risk [Line Items]
Concentration risk percentage	19.20%	25.50%
Customer A | Receivables
Concentration Risk [Line Items]
Concentration risk percentage	35%		26%
Customer B | Revenue
Concentration Risk [Line Items]
Concentration risk percentage		12.60%

Restatement, Reclassification_3

Restatement, Reclassification and Revision of Previously Issued Condensed Consolidated Financial Statements - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Retained Earnings	$ 8,192		$ (1,092)
Net of a tax benefit	300
Deferred gain loss on sale leaseback	0	$ 334
Amortization expense	1,811	651
Cash and cash equivalents	45,920		44,758
Property, plant, and equipment, net	224,466		238,719
Cost of Goods and Services Sold	48,550	35,382
Stock based compensation expense	3,440	0
Current assets	(316,415)		(298,956)
Current liabilities	(210,625)		(199,594)
Other long-term liabilities	6,315		7,055
Net income (loss)	1,532	793
Income tax provision	(1,474)	$ (449)
Deferred gain	$ 0		10,666
Earnings Per Share, Diluted	$ 0.03	$ 0.01
Equity	$ 360,762	$ 360,184	348,238	$ 360,255
Retained Earnings [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Equity	8,192	126	(1,092)
Wine, spirits and cider
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of Goods and Services Sold	33,021	23,720
Maximum
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Retained Earnings	700
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Retained Earnings	9,056		(521)
Net of a tax benefit	300		300
Deferred gain loss on sale leaseback	(334)
Amortization expense	300	0
Cash and cash equivalents	1,298		1,066
Reclassification from restricted cash to cash and cash equivalents			1,800
Reclassification between cash and cash equivalents and accounts payable			700
Adjustment to prepaid expenses and other current assets			1,900
Adjustment to inventories and retained earnings due to incorrect inventory turns	1,000
Adjustment to property, plant and equipment, net and retained earnings due to overstatement of depreciation expense	900		900
Adjustment to intangible assets, net and retained earnings due to impairment			1,300
Adjustment to additional paid-in capital and retained earnings due to overstatement of stock-based compensation expense	3,000		1,800
Adjustment to selling general and administrative expense due to adjustment for historical acquisitions	1,600
Adjustment to selling, general and administrative expense due to an overstatement of stock-based compensation expense	1,200
Adjustment to accrued liabilities and other payables for historical acquisitions			2,100
Reclassification between property, plant and equipment and inventories			1,500
Reclassification adjustment to accumulated deficit	11,800		700
Adjustment to intangible assets due to impairment	1,300
Property, plant, and equipment, net	(3,738)		2,619
Adjustment to property plant and equipment, net	2,900
Adjustment for historic acquisition	1,600		1,600
Adjustment to cost of revenue	1,200
Deferred tax liability due to tax impact	2,300
Cost of Goods and Services Sold	(1,019)	3,132
Stock based compensation expense	(1,211)
Current assets	(6,879)		1,767
Current liabilities	(1,730)		(2,319)
Other long-term liabilities			564
Net income (loss)	1,825	(1,961)
Increase in accumulated deficit	700		700
Income tax provision	(2,323)	$ 744
Deferred gain	$ (10,332)
Earnings Per Share, Diluted	$ 0.03	$ (0.04)
Equity	$ 5,878		(2,488)
Adjustments | Retained Earnings [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net of a tax benefit	2,900
Deferred gain loss on sale leaseback	10,700
Deferred gain	7,800
Adjustments | Wine, spirits and cider
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of Goods and Services Sold	(1,610)	$ 3,132
Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Retained Earnings	(864)		(571)
Net of a tax benefit			300
Deferred gain loss on sale leaseback	334
Amortization expense	300	651
Cash and cash equivalents	44,622		43,692
Reclassification adjustment to accumulated deficit			700
Property, plant, and equipment, net	228,204		236,100
Cost of Goods and Services Sold	49,569	32,250
Stock based compensation expense	4,651
Current assets	(309,536)		(300,723)
Current liabilities	(208,895)		(197,275)
Other long-term liabilities			6,491
Net income (loss)	(293)	2,754
Income tax provision	849	$ (1,193)
Deferred gain	$ 10,332
Earnings Per Share, Diluted	$ 0	$ 0.05
Equity	$ 354,884		$ 350,726
Previously Reported | Wine, spirits and cider
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of Goods and Services Sold	$ 34,631	$ 20,588

Restatement, Reclassification_4

Restatement, Reclassification and Revision of Previously Issued Condensed Consolidated Financial Statements - Balance Sheet (Details) - USD ($)	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Jun. 30, 2021
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cash and cash equivalents	$ 45,920,000	$ 44,758,000
Restricted cash	0	4,800,000
Accounts receivable, net	38,424,000	37,869,000
Inventories	199,672,000	192,922,000
Assets held for sale	13,221,000	0
Prepaid expenses and other current assets	9,478,000	11,864,000
Total current assets	316,415,000	298,956,000
Property, plant, and equipment, net	224,466,000	238,719,000
Intangible assets, net	61,391,000	63,097,000
Total assets	811,163,000	765,467,000
Accounts payable	21,650,000	13,473,000
Accrued liabilities and other payables	28,711,000	26,997,000
Total current liabilities	210,625,000	199,594,000
Other long-term liabilities	6,315,000	7,055,000
Deferred tax liability	34,536,000	29,325,000
Deferred gain	0	10,666,000
Total liabilities	449,119,000	415,735,000
Redeemable noncontrolling interest	1,282,000	1,494,000
Additional paid-in capital	379,367,000	376,099,000
Accumulated deficit (retained earnings)	8,192,000	(1,092,000)
Total Vintage Wine Estates, Inc. stockholders' equity	361,525,000	348,973,000
Noncontrolling interests	(763,000)	(735,000)
Total stockholders' equity	360,762,000	348,238,000	$ 360,184,000	$ 360,255,000
Total liabilities, redeemable noncontrolling interest, and stockholders' equity	811,163,000	765,467,000
Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cash and cash equivalents	44,622,000	43,692,000
Restricted cash		6,600,000
Accounts receivable, net		38,192,000
Inventories	200,759,000	192,102,000
Assets held for sale	6,553,000
Prepaid expenses and other current assets		13,394,000
Total current assets	309,536,000	300,723,000
Property, plant, and equipment, net	228,204,000	236,100,000
Intangible assets, net	62,672,000	64,377,000
Total assets	809,303,000	765,895,000
Accounts payable	20,352,000	13,947,000
Accrued liabilities and other payables	28,279,000	24,204,000
Total current liabilities	208,895,000	197,275,000
Other long-term liabilities		6,491,000
Deferred tax liability	29,952,000	29,979,000
Deferred gain	10,332,000
Total liabilities	453,137,000	413,506,000
Redeemable noncontrolling interest		1,663,000
Additional paid-in capital	382,376,000	377,897,000
Accumulated deficit (retained earnings)	(864,000)	(571,000)
Total Vintage Wine Estates, Inc. stockholders' equity	355,478,000	351,292,000
Noncontrolling interests	(594,000)	(566,000)
Total stockholders' equity	354,884,000	350,726,000
Total liabilities, redeemable noncontrolling interest, and stockholders' equity	809,303,000	765,895,000
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cash and cash equivalents	1,298,000	1,066,000
Restricted cash		(1,800,000)
Accounts receivable, net		(323,000)
Inventories	(1,087,000)	820,000
Assets held for sale	6,668,000
Prepaid expenses and other current assets		(1,530,000)
Total current assets	6,879,000	(1,767,000)
Property, plant, and equipment, net	(3,738,000)	2,619,000
Intangible assets, net	(1,281,000)	(1,280,000)
Total assets	1,860,000	(428,000)
Accounts payable	1,298,000	(474,000)
Accrued liabilities and other payables	432,000	2,793,000
Total current liabilities	1,730,000	2,319,000
Other long-term liabilities		564,000
Deferred tax liability	4,584,000	(654,000)
Deferred gain	(10,332,000)
Total liabilities	(4,018,000)	2,229,000
Redeemable noncontrolling interest		(169,000)
Additional paid-in capital	(3,009,000)	(1,798,000)
Accumulated deficit (retained earnings)	9,056,000	(521,000)
Total Vintage Wine Estates, Inc. stockholders' equity	6,047,000	(2,319,000)
Noncontrolling interests	(169,000)	(169,000)
Total stockholders' equity	5,878,000	(2,488,000)
Total liabilities, redeemable noncontrolling interest, and stockholders' equity	$ 1,860,000	$ (428,000)

Restatement, Reclassification_5

Restatement, Reclassification and Revision of Previously Issued Condensed Consolidated Financial Statements -Statements of Operations and Comprehensive Income (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2021
Net revenues
Net revenue	$ 78,080	$ 56,035
Cost of revenue
Cost of revenue	48,550	35,382
Gross profit	29,530	20,653
Selling, general, and administrative expenses	31,449	16,978
Amortization Expense	1,811	651
Loss on remeasurement of contingent liability	185	155
Gain on sale leaseback	0	(334)
Loss (gain) on sale of property, plant, and equipment	0	(6)
(Loss) income from operations	(3,385)	3,209
Other income (expense)
Net unrealized gain on interest rate swap agreements	9,327	1,572
Total other income (expense), net	6,217	(1,992)
Income before provision for income taxes	2,832	1,217
Income tax provision	1,474	449
Net (loss) income	1,358	768
Net loss attributable to the noncontrolling interests	(174)	(25)
Net (loss) income attributable to Vintage Wine Estates, Inc.	1,532	793
Net (loss) income allocable to common stockholders	$ 1,532	$ 793
Net earnings (loss) per share allocable to common stockholders
Basic	$ 0.03	$ 0.01
Diluted	$ 0.03	$ 0.01
Weighted average shares used in the calculation of earnings per share allocable to common stockholders
Basic	58,819,160	60,461,611	60,461,611
Diluted	58,819,160	60,461,611	60,461,611
Wine, spirits and cider
Net revenues
Net revenue	$ 52,270	$ 36,635
Cost of revenue
Cost of revenue	33,021	23,720
Nonwine
Net revenues
Net revenue	25,810	19,400
Cost of revenue
Cost of revenue	15,529	11,662
Previously Reported
Net revenues
Net revenue	77,229	55,687
Cost of revenue
Cost of revenue	49,569	32,250
Gross profit	27,660	23,437
Selling, general, and administrative expenses	33,707	16,983
Amortization Expense	300	651
Loss on remeasurement of contingent liability	826	0
Gain on sale leaseback	(334)
Loss (gain) on sale of property, plant, and equipment	118
(Loss) income from operations	(7,702)	6,143
Other income (expense)
Net unrealized gain on interest rate swap agreements		1,393
Total other income (expense), net		(2,171)
Income before provision for income taxes	(1,485)	3,972
Income tax provision	(849)	1,193
Net (loss) income	(636)	2,779
Net loss attributable to the noncontrolling interests	(343)
Net (loss) income attributable to Vintage Wine Estates, Inc.	(293)	2,754
Net (loss) income allocable to common stockholders	$ (293)	$ 2,754
Net earnings (loss) per share allocable to common stockholders
Basic	$ 0	$ 0.05
Diluted	$ 0	$ 0.05
Previously Reported | Wine, spirits and cider
Net revenues
Net revenue	$ 51,419	$ 36,287
Cost of revenue
Cost of revenue	34,631	20,588
Previously Reported | Nonwine
Cost of revenue
Cost of revenue	14,938
Adjustments
Net revenues
Net revenue	851	348
Cost of revenue
Cost of revenue	(1,019)	3,132
Gross profit	1,870	(2,784)
Selling, general, and administrative expenses	(2,258)	(5)
Amortization Expense	300	0
Loss on remeasurement of contingent liability	(641)	155
Gain on sale leaseback	334
Loss (gain) on sale of property, plant, and equipment	118
(Loss) income from operations	4,317	(2,934)
Other income (expense)
Net unrealized gain on interest rate swap agreements		179
Total other income (expense), net		179
Income before provision for income taxes	4,317	(2,755)
Income tax provision	2,323	(744)
Net (loss) income	1,994	(2,011)
Net loss attributable to the noncontrolling interests	169
Net (loss) income attributable to Vintage Wine Estates, Inc.	1,825	(1,961)
Net (loss) income allocable to common stockholders	$ 1,825	$ (1,961)
Net earnings (loss) per share allocable to common stockholders
Basic	$ 0.03	$ (0.04)
Diluted	$ 0.03	$ (0.04)
Adjustments | Wine, spirits and cider
Net revenues
Net revenue	$ 851	$ 348
Cost of revenue
Cost of revenue	(1,610)	$ 3,132
Adjustments | Nonwine
Cost of revenue
Cost of revenue	$ 591

Restatement, Reclassification_6

Restatement, Reclassification and Revision of Previously Issued Condensed Consolidated Financial Statements -Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net (loss) income	$ 1,358	$ 768
Depreciation	3,996	1,502
Amortization expense	1,880	651
Amortization of deferred loan fees and line of credit fees	98	99
Net unrealized gain on interest rate swap agreements	(9,327)	(1,572)
(Benefit) provision for deferred income tax	2,296	(1,059)
Remeasurement of contingent consideration liabilities	185	155
Stock-based compensation expense	3,440	0
Provision for doubtful accounts	(8)	(15)
(Gain) loss on disposition of assets	0	(6)
Deferred gain on sale leaseback	0	(334)
Deferred rent	0	128
Accounts receivable	(547)	863
Inventories	(6,953)	(444)
Other assets	(1,861)	57
Prepaid expenses and other current assets	2,388	884
Accounts payable	2,103	(3,071)
Accrued liabilities and other payables	3,702	3,060
Other	0	(836)
Net change in lease assets and liabilities	(791)	0
Net cash provided by (used in) operating activities	1,988	(2,020)
Outstanding checks in excess of cash	6,074	387
Net cash (used in) provided by financing activities	(2,172)	9,202
Net change in cash, cash equivalents and restricted cash	(3,638)	(604)
Cash, cash equivalents and restricted cash, beginning of period	49,558	123,679
Cash, cash equivalents and restricted cash, end of period	45,920	123,075
Increase in finance lease assets and liabilities upon adoption of ASC 842	67	0
Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net (loss) income	(636)	2,779
Depreciation	3,215	3,503
Amortization expense	1,978	750
Amortization of deferred loan fees and line of credit fees	0	0
Net unrealized gain on interest rate swap agreements		(1,393)
(Benefit) provision for deferred income tax	(27)	0
Remeasurement of contingent consideration liabilities	826	0
Stock-based compensation expense	4,651
Provision for doubtful accounts	(280)
(Gain) loss on disposition of assets	(118)
Deferred gain on sale leaseback	(334)
Deferred rent	(2,079)
Accounts receivable	48
Inventories	(6,957)	(4,671)
Prepaid expenses and other current assets	3,916
Accounts payable	2,363
Accrued liabilities and other payables	5,293	1,356
Other		0
Net change in lease assets and liabilities	1,288
Net cash provided by (used in) operating activities	1,988	(2,020)
Outstanding checks in excess of cash	4,042
Net cash (used in) provided by financing activities	(4,204)
Net change in cash, cash equivalents and restricted cash	(5,670)
Cash, cash equivalents and restricted cash, beginning of period	50,292
Cash, cash equivalents and restricted cash, end of period	44,622
Increase in finance lease assets and liabilities upon adoption of ASC 842	759
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net (loss) income	1,994	(2,011)
Depreciation	781	(2,001)
Amortization expense	(98)	(99)
Amortization of deferred loan fees and line of credit fees	98	99
Net unrealized gain on interest rate swap agreements		(179)
(Benefit) provision for deferred income tax	2,323	(1,059)
Remeasurement of contingent consideration liabilities	(641)	(155)
Stock-based compensation expense	(1,211)
Provision for doubtful accounts	272
(Gain) loss on disposition of assets	118
Deferred gain on sale leaseback	334
Deferred rent	2,079
Accounts receivable	(595)
Inventories	4	4,227
Prepaid expenses and other current assets	(1,528)
Accounts payable	(260)
Accrued liabilities and other payables	1,591	1,704
Other		(836)
Net change in lease assets and liabilities	(2,079)
Net cash provided by (used in) operating activities	0	$ 0
Outstanding checks in excess of cash	2,032
Net cash (used in) provided by financing activities	2,032
Net change in cash, cash equivalents and restricted cash	2,032
Cash, cash equivalents and restricted cash, beginning of period	(734)
Cash, cash equivalents and restricted cash, end of period	1,298
Increase in finance lease assets and liabilities upon adoption of ASC 842	$ (692)

Business Combinations - Schedul

Business Combinations - 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	Sep. 30, 2022	Jun. 30, 2022
Business Acquisition [Line Items]
Cash			$ 14,000
Goodwill				$ 154,951	$ 154,951
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
Total identifiable assets acquired			7,523
Goodwill			$ 9,477
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		(6,554)
Total identifiable assets acquired		19,901
Goodwill		$ 27,539
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	12,859
Inventory	4,280
Other assets	356
Trademarks	700
Customer relationships	6,400
Accounts payable and accrued expenses	(2,682)
Deferred tax liability	(6,033)
Total identifiable assets acquired	19,549
Goodwill	$ 8,247

Business Combinations - Additio

Business Combinations - Additional Information (Details) $ in Thousands	Feb. 14, 2022 USD ($)	Jan. 18, 2022 USD ($) Rate shares	Nov. 16, 2021 USD ($) Rate	Oct. 04, 2021 USD ($) Rate	Sep. 30, 2022 USD ($) Rate shares	Jun. 30, 2022 USD ($) shares	Dec. 31, 2021 Rate
Business Acquisition [Line Items]
Purchase consideration	$ 400		$ 47,400	$ 17,000
Cash payment to acquire buiness				14,000
Common stock, shares issued | shares					61,691,054	61,691,054
Common stock, value					$ 0	$ 0
Consulting fees				200
Aggregate consulting fee				600
Earnout payable				$ 2,400
Key assumption rate | Rate							1.8
ACE Cider
Business Acquisition [Line Items]
Effective date of acquisition			Nov. 16, 2021
Percentage of ownership interest acquired			100%
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").
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
Earnout consideration paid in cash		50%
Earnout consideration paid in stock		50%
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			2.75
Measurement Input Royalty Rate Member | Vinesse, LLC [Member]
Business Acquisition [Line Items]
Percentage of ownership interest acquired				100%
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 | Rate					13
Measurement Input Discount Rate Member | ACE Cider
Business Acquisition [Line Items]
Key assumption rate | Rate					12.5
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		27			28

Inventory - Schedule of Invento

Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Inventory [Line Items]
Inventories	$ 199,672	$ 192,922
Bulk Wine Spirits and Cider
Inventory [Line Items]
Inventories	91,848	88,978
Bottled Wine, Spirits and Cider
Inventory [Line Items]
Inventories	88,201	86,785
Bottling and Packaging Supplies
Inventory [Line Items]
Inventories	18,367	16,328
Nonwine Inventory
Inventory [Line Items]
Inventories	$ 1,256	$ 831

Inventory - Additional Informat

Inventory - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022
Inventory [Line Items]
Impairment of inventory	$ 0	$ 0
Bulk Wine Spirits and Cider
Inventory [Line Items]
Inventory valuation reserves	0		$ 2.2
Bottled Wine, Spirits and Cider
Inventory [Line Items]
Inventory valuation reserves	1.5		1.8
Bottling and Packaging Supplies
Inventory [Line Items]
Inventory valuation reserves	$ 0.4		$ 0.4

Assets Held for Sale - Schedule

Assets Held for Sale - Schedule of Carrying Amounts of Assets Held For Sale (Details) - USD ($)	Sep. 30, 2022	Jun. 30, 2022
Property, Plant and Equipment [Line Items]
Less accumulated depreciation and amortization	$ (2,779,000)
Total assets held for sale	13,221,000	$ 0
Property, plant and equipment
Property, Plant and Equipment [Line Items]
Tamarack Cellars property, plant and equipment held for sale, at carrying value	2,767,000
Land
Property, Plant and Equipment [Line Items]
Laetitia vineyards land held for sale, at carrying value	$ 13,233,000

Assets Held for Sale - Addition

Assets Held for Sale - Additional Information (Details) - USD ($)	Sep. 30, 2022	Jun. 30, 2022
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract]
Assets held for sale	$ 13,221,000	$ 0

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 274,181	$ 288,310
Less accumulated depreciation and amortization	(68,032)	(66,987)
Property, Plant and Equipment, Net Before Construction and Development In Progress	206,149	221,323
Construction in progress	18,317	17,396
Property, Plant and Equipment, Net	224,466	238,719
Buildings and Improvements
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	138,875	139,223
Land
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	35,318	46,632
Machinery and Equipment
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	77,935	77,676
Cooperage
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	9,289	10,165
Vineyards
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	10,968	12,860
Furniture and equipment
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 1,796	$ 1,754

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 4	$ 1.6

Goodwill and Intangible assets

Goodwill and Intangible assets - Schedule of Components of Finite-Lived Intangible Assets, Accumulated Amortization, and Indefinite-Lived Assets (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Total indefinite-life intangibles, Amount	$ 35,672		$ 36,953
Accumulated Impairment Losses	(1,700)	$ (500)	(1,281)
Total indefinite-life intangibles, Net amount	35,672		35,672
Total definite-life intangibles, Gross Carrying Amount	32,600		32,600
Total definite-life intangibles, Accumulated Amortization	(6,881)		(5,175)
Total definite-life intangibles, Net Carrying Amount	25,719		27,425
Total other intangibles assets, Gross Carrying Amount	68,272		69,553
Total other intangibles assets, Accumulated Amortization	(6,881)		(5,175)
Total other intangibles assets, Accumulated Amortization			(1,281)
Total other intangibles assets, Net Carrying Amount	61,391		63,097
Customer and Sommerlier Relationships
Finite-Lived Intangible Assets [Line Items]
Total definite-life intangibles, Gross Carrying Amount	30,700		30,700
Total definite-life intangibles, Accumulated Amortization	(6,523)		(4,922)
Total definite-life intangibles, Net Carrying Amount	$ 24,177		$ 25,778
Weighted Average Remaining Amortization Period (in years)	4 years 2 months 12 days		4 years 4 months 24 days
Trade names and Trademarks
Finite-Lived Intangible Assets [Line Items]
Total indefinite-life intangibles, Amount	$ 28,922		$ 30,203
Accumulated Impairment Losses			(1,281)
Total indefinite-life intangibles, Net amount	28,922		28,922
Total definite-life intangibles, Gross Carrying Amount	1,900		1,900
Total definite-life intangibles, Accumulated Amortization	(358)		(253)
Total definite-life intangibles, Net Carrying Amount	$ 1,542		$ 1,647
Weighted Average Remaining Amortization Period (in years)	3 years 8 months 12 days		3 years 6 months
Winery Use Permits
Finite-Lived Intangible Assets [Line Items]
Total indefinite-life intangibles, Amount	$ 6,750		$ 6,750
Total indefinite-life intangibles, Net amount	$ 6,750		$ 6,750

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 154,951		$ 154,951
Trade impairments	1,700	$ 500	1,281
Amortization of intangible assets	1,705	651
Amortization of intangible assets	$ 1,700	$ 500	$ 1,281

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Estimated Future Amortization Expense for Finite-Lived Intangible Assets (Detail) $ in Thousands	Sep. 30, 2022 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2023 remaining	$ 5,116
2024	6,811
2025	5,292
2026	4,527
2027	3,179
Thereafter	794
Total estimated amortization expense	$ 25,719

Accrued Liabilities - Schedule

Accrued Liabilities - Schedule Of Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Payables and Accruals [Abstract]
Accrued purchases	$ 13,573	$ 6,728
Accrued employee compensation	4,551	5,580
Other accrued expenses	5,102	8,867
Non related party accrued interest expense	517	429
Contingent consideration	3,256	2,710
Unearned Income	296	642
Captive insurance liabilities	1,416	2,041
Total Accrued liabilities and other payables	$ 28,711	$ 26,997

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		Sep. 30, 2022	Jun. 30, 2022
Assets:
Assets		$ 55,119	$ 45,773
Interest rate swaps	[1]	18,381	9,157
Liabilities:
Contingent consideration liabilities	[2]	9,302	9,156
Liabilities		9,302	9,156
Fair Value, Inputs, Level 1
Assets:
Assets		36,738	36,616
Liabilities:
Contingent consideration liabilities	[2]	0	0
Liabilities		0	0
Fair Value, Inputs, Level 2
Assets:
Assets		18,381	9,157
Interest rate swaps	[1]	18,381	9,157
Liabilities:
Contingent consideration liabilities	[2]	0	0
Liabilities		0	0
Fair Value, Inputs, Level 3
Assets:
Assets		0	0
Liabilities:
Contingent consideration liabilities	[2]	9,302	9,156
Liabilities		9,302	9,156
Money Market Funds
Assets:
Assets		36,738	36,616
Money Market Funds | Fair Value, Inputs, Level 1
Assets:
Assets		36,738	36,616
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] (1) 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. (2) 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	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Less: current portion	$ (3,256)	$ (2,710)
Fair Value, Recurring | Fair Value, Inputs, Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Balance at June 30, 2022	9,156
Acquisitions	0
Payments	(39)
Change in fair value	185
Balance at September 30, 2022	9,302
Less: current portion	(3,256)
Long term portion	$ 6,046

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Lessee, Lease, Description [Line Items]
Deferred gain loss on sale leaseback	$ 0	$ 334
Net of a tax benefit	300
Revision of Prior Period, Reclassification, Adjustment [Member] | Retained Earnings [Member]
Lessee, Lease, Description [Line Items]
Deferred gain loss on sale leaseback	7,800
Net of a tax benefit	$ 2,900
Maximum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease terms	10 years
Minimum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 year

Leases - Schedule of Components

Leases - Schedule of Components of Lease Expense (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2022 USD ($)
Leases [Abstract]
Operating lease expense	$ 1,808
Amortization of right-of-use assets	70
Interest on lease liabilities	9
Total finance lease expense	79
Variable lease expense	157
Short-term lease expense	35
Total lease expense	$ 2,079

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Balance Sheet Related to Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Leases [Abstract]
Operating lease right-of-use assets	$ 35,509	$ 0
Current portion of lease liabilities	5,197	0
Long-term operating lease liabilities	31,637	0
Operating Lease, Liability, Total	36,834
Finance lease right-of-use-assets	689	0
Current portion of finance lease liabilities	263	0
Long-term finance lease liabilities	429	$ 0
Finance Lease, Liability, Total	$ 692

Leases - Schedule of Weighted A

Leases - Schedule of Weighted Average Remaining Lease Term and Discount Rate (Details)	Sep. 30, 2022
Weighted Average Remaining Lease Term
Operating leases	6 years 8 months 12 days
Finance leases	2 years 9 months 18 days
Weighted Average Discount Rate
Operating leases	5%
Finance leases	5%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Lessee, Operating Lease, Liability, to be Paid [Abstract]
Remaining fiscal 2023	$ 4,795
2024	6,849
2025	6,529
2026	6,521
2027	6,195
2028 and thereafter	12,479
Total lease payments	43,368
Less imputed interest	(6,534)
Operating Lease, Liability, Total	36,834
Current portion of lease liabilities	(5,197)	$ 0
Total long term lease liabilities	31,637	0
Finance Lease, Liability, to be Paid [Abstract]
Remaining fiscal 2023	219
2024	285
2025	157
2026	79
2027	0
2028 and thereafter	0
Total lease payments	740
Less imputed interest	(48)
Finance Lease, Liability, Total	692
Current portion of lease liabilities	(263)	0
Total long term lease liabilities	$ 429	$ 0

Long-Term and Other Short-Ter_3

Long-Term and Other Short-Term Obligations - Summary of Long-term and Other Short-term Obligations (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Debt Instrument [Line Items]
Long term debt	$ 181,536	$ 185,289
Less current maturities	(14,738)	(14,909)
Less unamortized deferred financing costs	(1,221)	(1,285)
Long-term debt and lease obligation	165,577	169,095
Base Rate | Borrowings
Debt Instrument [Line Items]
Long term debt	39,699	40,776
Notes Payable to Bank | April 2023
Debt Instrument [Line Items]
Long term debt	418	593
Notes Payable to Bank | March 2024
Debt Instrument [Line Items]
Long term debt	1,071	1,246
Notes Payable to Bank | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Long term debt	75,726	76,792
Notes Payable to Bank | London Interbank Offered Rate (LIBOR) | July 2024
Debt Instrument [Line Items]
Long term debt	$ 64,622	$ 65,882

Long-Term and Other Short-Ter_4

Long-Term and Other Short-Term Obligations - Summary of Long-term and Other Short-term Obligations (Parenthetical) (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2022	Mar. 31, 2022	Jun. 30, 2021
Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			2.25%
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%
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%
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%	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%)

Long-Term Debt and Other Short-

Long-Term Debt and Other Short-Term Obligations - Schedule of Maturities of Long-term and Other Short-term Borrowings (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Long-Term Debt, Unclassified [Abstract]
Remaining 2023	$ 11,156
2024	14,152
2025	64,372
2026	8,571
2027	83,285
Long term debt	$ 181,536	$ 185,289

Long-Term Debt and Other Shor_2

Long-Term Debt and Other Short-Term Obligations - Additional Information (Details) - USD ($)		1 Months Ended	3 Months Ended			6 Months Ended
	Oct. 12, 2023	Jan. 13, 2022	Sep. 30, 2022	Mar. 13, 2022	Sep. 30, 2021	Dec. 31, 2022	Jun. 13, 2022	Dec. 13, 2022	Mar. 31, 2022
Debt Instrument [Line Items]
Debt Instrument, Covenant Description			(i) a minimum fixed charge coverage ratio (based on trailing twelve-month EBITDA adjusted for capital expenditures, taxes and certain other items) of 1.10:1.00 measured on a rolling four quarter basis provided that the minimum capital expenditure amount for purposes of calculating the fixed charge coverage ratio will increase by $175.0 thousand per quarter until it reaches $1.5 million, (ii) the addition of a maximum debt to capitalization ratio covenant, initially set at 0.60:1.00 for each quarter until December 31, 2023 and stepping down to 0.575:1.00 for each quarter until March 31, 2024 and 0.55:1.00 for each quarter until December 31, 2024 and thereafter, (iii) certain new EBITDA addbacks (and one historical EBITDA deduction in the amount of approximately $1.4 million for the quarter ended September 30, 2022) and (iv) certain amendments to the conditions for permitted acquisitions and accordion increases.
Capital Expenditure Amount Increase In Coverage Ratio					$ 175,000
Capital Expenditure Maximum Amount of Coverage Ratio					1,500,000
Deduction in EBITDA					$ 1,400,000
Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Revolving line of credit amount interest rate on outstanding		0.10%	1%	0.15%			0.25%
Base Rate
Debt Instrument [Line Items]
Revolving line of credit amount interest rate on outstanding			2.25%
Federal Funds Rate Plus
Debt Instrument [Line Items]
Revolving line of credit amount interest rate on outstanding			0.50%
Adjusted Base Rate
Debt Instrument [Line Items]
Revolving line of credit amount interest rate on outstanding			0.10%
Minimum | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Revolving line of credit amount interest rate on outstanding			1.50%
Maximum | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Revolving line of credit amount interest rate on outstanding			2%
Accounts Receivable And Inventory Revolving Facility
Debt Instrument [Line Items]
Aggregate principal amount			$ 230,000,000
Capital Expenditure Facility
Debt Instrument [Line Items]
Aggregate principal amount									$ 50,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Debt Instrument, interest rate, effective percentage			2.60%		4%
Payment of loan fees			$ 2,600,000
Original Issue Discount			500,000
Third-party debt issuance cost			$ 2,100,000
Revolving Credit Facility | Adjusted Base Rate
Debt Instrument [Line Items]
Revolving line of credit amount interest rate on outstanding			1%
Credit Facilities Other Than Revolving Facility | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Revolving line of credit amount interest rate on outstanding			1.25%
Delay Draw Term Loan Facility
Debt Instrument [Line Items]
Aggregate principal amount			$ 100,000,000
Delay Draw Term Loan Facility | Maximum
Debt Instrument [Line Items]
Aggregate principal amount			55,000,000
Term Loan
Debt Instrument [Line Items]
Aggregate principal amount			100,000,000
Payment of loan fees			2,300,000
Original Issue Discount			500,000
Third party costs			1,900,000
Term Loan | Equipment Loan
Debt Instrument [Line Items]
Aggregate principal amount			200,000
Term Loan | Capex Facility
Debt Instrument [Line Items]
Aggregate principal amount			$ 800,000
Fourth Amendment
Debt Instrument [Line Items]
Debt Instrument, Covenant Description			(i) waives certain existing events of default relating to the Company’s failure to comply with the financial covenants and financial reporting requirements set forth in the Credit Agreement for prior fiscal periods; (ii) reduces the aggregate revolving commitment and the aggregate delayed draw term loan commitment to $200,000,000 and $38,100,000, respectively; (iii) replaces the maximum debt to capitalization financial covenant with a minimum adjusted EBITDA financial covenant of not less than (1) $4,000,000 for the fiscal quarter ending September 30, 2023, (2) $17,000,000 for the two fiscal quarter period ending December 31, 2023, (3) $27,000,000 for the three fiscal quarter period ending March 31, 2024, (4) $34,000,000 for the four fiscal quarter period ending June 30, 2024, and (5) $35,000,000 for each four fiscal quarter period ending thereafter; (iv) adds a minimum liquidity covenant of $25,000,000 (or, for fiscal quarters ending in December, $15,000,000), which applies only for the fiscal quarters ending September 30, 2023 through and including December 31, 2024 (the “Covenant Modification Period”); (v) suspends the minimum fixed charge coverage ratio covenant for the fiscal quarters ending September 30, 2023 through and including June 30, 2024 and provides for a step-down of the minimum fixed charge coverage ratio to 1.00:1.00 for the remainder of the Covenant Modification Period; (vi) adds an equity cure right for the Company in the event of future breaches of the financial covenants; (vii) reduces revolver availability by (1) $15,000,000 during the months of February through September of each year and (2) $10,000,000 during the months of October through January of each year; (viii) suspends the exercise of incremental facilities during the Covenant Modification Period; (ix) restricts all permitted acquisitions during the term of the credit facilities, unless previously approved by the required Lenders; (x) increases in the applicable margin for all credit facilities to 3.00% for SOFR Loans and 2.00% for ABR Loans, which margins will step-up further if certain prepayments of the Term Loans are not made by certain dates prescribed in the Amendment; (xi) adds additional mandatory prepayments of (1) $10,000,000 by no later than March 31, 2024, (2) an additional $10,000,000 by no later than June 30, 2024 and (3) an additional $25,000,000 by no later than December 31, 2024; (xii) adds additional mandatory prepayments in the event that the Borrowers maintain a cash balance in excess of $20,000,000; (xiii) permits additional sales of certain real property with an aggregate appraised value of approximately $60,000,000, in addition to related personal property assets; and (xiv) adds certain additional reporting requirements to Agent and the Lenders.
Minimum liquidity covenant						$ 15,000,000
Fourth Amendment | Subsequent Event [Member]
Debt Instrument [Line Items]
Fiscal quarter ending September 30, 2023	$ 4,000,000
Fiscal quarter period ending December 31, 2023	17,000,000
Fiscal quarter period ending March 31, 2024	27,000,000
Fiscal quarter period ending June 30, 2024	34,000,000
Thereafter	35,000,000
Minimum liquidity covenant	25,000,000
Debt instrument, periodic payment	20,000,000
Line of credit facility covenant aggregate appraised value	$ 60,000,000
Fourth Amendment | Secured Overnight Financing Rate (SOFR) | Subsequent Event [Member]
Debt Instrument [Line Items]
Revolving line of credit amount interest rate on outstanding	3%
Fourth Amendment | Alternate Base Rate | Subsequent Event [Member]
Debt Instrument [Line Items]
Revolving line of credit amount interest rate on outstanding	2%
Fourth Amendment | February through September | Subsequent Event [Member]
Debt Instrument [Line Items]
Available amount under line of credit	$ 15,000,000
Fourth Amendment | October through January | Subsequent Event [Member]
Debt Instrument [Line Items]
Available amount under line of credit	10,000,000
Fourth Amendment | March 31, 2024 | Subsequent Event [Member]
Debt Instrument [Line Items]
Debt instrument, periodic payment	10,000,000
Fourth Amendment | June 30, 2024 | Subsequent Event [Member]
Debt Instrument [Line Items]
Debt instrument, periodic payment	10,000,000
Fourth Amendment | December 31, 2024 | Subsequent Event [Member]
Debt Instrument [Line Items]
Debt instrument, periodic payment	25,000,000
Fourth Amendment | Revolving Credit Facility | Subsequent Event [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	200,000,000
Fourth Amendment | Delay Draw Term Loan Facility | Subsequent Event [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 38,100,000
Amended And Restated Loan And Security Agreement [Member] | Maximum
Debt Instrument [Line Items]
Aggregate principal amount			$ 480,000,000
Second Amended and Restated Loan and Security Agreement [Member]
Debt Instrument [Line Items]
Aggregate principal amount								$ 458,400,000
Debt instrument, maturity			The Term Loan Facility matures on December 13, 2027, and the Second A&R Loan and Security Agreement extends the maturities of the other credit facilities as follows: (i) the Revolving Facility matures on December 13, 2027, (ii) the Equipment Loan matures on December 31, 2026, (iii) the Capex Facility matures on June 30, 2027 and (iv) the DDTL Facility matures on December 13, 2027.
Debt instrument, maturity period			Dec. 13, 2027
Loss on extinguishment of Debt			$ 500,000
Second Amended and Restated Loan and Security Agreement [Member] | Accounts Receivable And Inventory Revolving Facility
Debt Instrument [Line Items]
Aggregate principal amount								229,700,000
Second Amended and Restated Loan and Security Agreement [Member] | Revolving Credit Facility
Debt Instrument [Line Items]
Aggregate principal amount								20,000,000
Proceeds from new loan			$ 125,000,000
Debt instrument, maturity period			Dec. 13, 2027
Second Amended and Restated Loan and Security Agreement [Member] | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Debt Instrument, Interest Rate During Period					0.15%
Second Amended and Restated Loan and Security Agreement [Member] | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Debt Instrument, Interest Rate During Period					0.20%
Second Amended and Restated Loan and Security Agreement [Member] | Equipment Loan
Debt Instrument [Line Items]
Aggregate principal amount								4,200,000
Proceeds from new loan			$ 4,200,000
Debt instrument, maturity period			Dec. 31, 2026
Second Amended and Restated Loan and Security Agreement [Member] | Delay Draw Term Loan Facility
Debt Instrument [Line Items]
Aggregate principal amount								52,900,000
Second Amended and Restated Loan and Security Agreement [Member] | Capex Facility
Debt Instrument [Line Items]
Aggregate principal amount								15,200,000
Proceeds from new loan			$ 15,200,000
Second Amended and Restated Loan and Security Agreement [Member] | DDTL Facility
Debt Instrument [Line Items]
Proceeds from new loan			$ 30,600,000
Debt instrument, maturity period			Dec. 13, 2027
Second Amended and Restated Loan and Security Agreement [Member] | Term Loan
Debt Instrument [Line Items]
Aggregate principal amount								$ 156,500,000
Proceeds from new loan			$ 154,600,000
Debt Instrument, Interest Rate During Period			0.25%

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Reserved Shares Stock on Converted Basis (Details) - Common Stock - shares	Sep. 30, 2022	Jun. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Reserved shares of stock for issuance	31,373,317	31,545,111
Warrants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Reserved shares of stock for issuance	25,646,453	25,818,247
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 - Addition

Stockholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	3 Months Ended
	Aug. 11, 2021	Sep. 30, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 08, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Additional shares received of common stock		5,726,864	5,726,864
Earn out shares, description			is at or above $15 (but below $20), 50% of the Earnout Shares will be issued; and
Fair value of earn out shares			$ 32.4
Value of additional payment of common stock			$ 5
Earnout payment in cash		50%	50%
Earnout payment in stock		50%	50%
Earnout shares issued		0	0
Common stock repurchased, Held in treasury		2,871,894	2,871,894	2,871,894
Stock Repurchase Program, Authorized Amount					$ 30
Private Warrants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Warrants to purchase of common stock		8,000,000	8,000,000
Exercise price per share of warrants outstanding		$ 1	$ 1
Public Warrants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Warrants to purchase of common stock		18,000,000	18,000,000
Exercise price per share of warrants outstanding		$ 11.50	$ 11.50
Closing price of common stock trading period		20 days
Closing Price Of Common Stock Trading Period, Maximum number of days		30 days
Warrant, exercise price, Increase		$ 18
Expiration period of warrants exercisable after the commencement date	5 years
Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price per share of warrants outstanding		$ 11.50	$ 11.50
Warrants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Warrants to purchase of common stock		25,646,453	25,646,453
Common stock repurchased, Held in treasury		171,994	171,994
Shares issued, price per share		$ 1.02	$ 1.02
Warrants | Share Repurchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Repurchase of warrants			353,547
Treasury Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock repurchased during period, value			$ 0.2
Share-Based Payment Arrangement, 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
Unrecognized compensation expense to stock option		$ 7.9	$ 7.9
Weighted average period			5 years
Percentage of stock options expected to vest after eighteen months of grant date		25%	25%
Percentage of stock options expected to vest on each of second, third and fourth anniversary of the grant date		25%	25%
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting Period			4 years
Unrecognized compensation expense to stock option		$ 7.8	$ 7.8
Weighted average period			2 years 8 months 12 days
IPO | Private Warrants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Warrants to purchase of common stock		8,000,000	8,000,000

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	$ 3,440	$ 0
Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	489	0
Restricted Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	$ 2,951	$ 0

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Stock Options Activity (Details) - $ / shares	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock Options, Beginning Balance	3,503,527
Stock Options, Granted	173,364
Stock Options, Canceled and forfeited	(1,250)
Stock Options, Ending Balance	3,675,641	3,503,527
Weighted Average Exercise Price, Beginning Balance	$ 10.50
Weighted Average Exercise Price, Granted	10.50
Weighted Average Exercise Price, Canceled and forfeited	10.50
Weighted Average Exercise Price, Ending Balance	$ 10.50	$ 10.50
Weighted-Average Remaining Contractual Life, Granted	10 years	8 years 10 months 24 days
Weighted-Average Remaining Contractual Life	9 years

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) [Member]	3 Months Ended
	Sep. 30, 2022 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted Stock Units, Beginning Balance | shares	1,902,068
Restricted Stock Units, Granted | shares	88,587
Restricted Stock Units, Ending Balance | shares	1,990,655
Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 8.14
Weighted Average Grant Date Fair Value, Granted | $ / shares	5.66
Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 8.03

Stockholders' Equity - Summar_3

Stockholders' Equity - Summary of Changes in Treasury Stock (Details)	3 Months Ended
	Sep. 30, 2022 shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Beginning balance	3,053,447
Ending balance	3,225,441
Warrants
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Repurchases of common stock	171,994

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Federal income tax at the statutory rate	21%	21%

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Purchases under contract	$ 15.8	$ 10.3

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Purchase Commitments (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remaining 2023	$ 40,524
2024	20,706
2025	18,158
Purchase Obligation	$ 79,388

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Related Party Transactions [Abstract]
Other expenses	$ 125,000	$ 71,000
Payments related to sponsorship and marketing services	87,000	75,000
Payments to Sonoma Brands Partners II, LLC	0	0
Payment to capital markets and mergers and acquisitions	$ 50,000	$ 0

Segments - Summary of Revenue b

Segments - Summary of Revenue by Segment and Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Net revenue	$ 78,080	$ 56,035
Income (loss) from operations	(3,385)	3,209
Wholesale
Segment Reporting Information [Line Items]
Net revenue	23,987	16,203
Income (loss) from operations	2,288	3,042
Direct to Consumer
Segment Reporting Information [Line Items]
Net revenue	19,992	15,263
Income (loss) from operations	1,969	2,031
Business to Business
Segment Reporting Information [Line Items]
Net revenue	34,180	24,467
Income (loss) from operations	10,533	6,229
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Net revenue	(79)	102
Income (loss) from operations	$ (18,175)	$ (8,093)

Segments - Summary of Depreciat

Segments - Summary of Depreciation Expense Recognized by Operating Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Depreciation	$ 1,014	$ 300
Wholesale
Segment Reporting Information [Line Items]
Depreciation	40	0
Direct to Consumer
Segment Reporting Information [Line Items]
Depreciation	291	300
Business to Business
Segment Reporting Information [Line Items]
Depreciation	(235)	0
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Depreciation	$ 448	$ 0

Segments - Summary of Amortizat

Segments - Summary of Amortization Expense Recognized by Operating Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Amortization Expense	$ 1,705	$ 651
Wholesale [Member]
Segment Reporting Information [Line Items]
Amortization Expense	596	10
Direct To Consumer [Member]
Segment Reporting Information [Line Items]
Amortization Expense	745	613
Business To Business [Member]
Segment Reporting Information [Line Items]
Amortization Expense	364	3
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Amortization Expense	$ 0	$ 25

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
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2021
Earnings Per Share [Abstract]
Net (loss) income	$ 1,358	$ 768
Less: (loss) income allocable to noncontrolling interest	(174)	(25)
Net income allocable to common shareholders	1,532	793
Numerator- Basic EPS
Net income allocated to common shareholders	1,532	793
Numerator- Diluted EPS
Net income allocated to common shareholders	$ 1,532	$ 793
Weighted average common shares outstanding - Basic	58,819,160	60,461,611	60,461,611
Weighted average common shares - Diluted	58,819,160	60,461,611	60,461,611
Basic	$ 0.03	$ 0.01
Diluted	$ 0.03	$ 0.01

Earning Per Share - Schedule of

Earning Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities	29,322,094	26,000,000
Warrants
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities	25,646,453	26,000,000
Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities	3,675,641	0

Subsequents Events - Additional

Subsequents Events - Additional Information (Details) - USD ($)		1 Months Ended	3 Months Ended			6 Months Ended		12 Months Ended
	Oct. 12, 2023	Jan. 13, 2022	Dec. 31, 2022	Sep. 30, 2022	Mar. 13, 2022	Dec. 31, 2022	Jun. 13, 2022	Jun. 30, 2022
Subsequent Event [Line Items]
Impairments of intangible assets								$ 1,281,000
Debt Instrument, Covenant Description				(i) a minimum fixed charge coverage ratio (based on trailing twelve-month EBITDA adjusted for capital expenditures, taxes and certain other items) of 1.10:1.00 measured on a rolling four quarter basis provided that the minimum capital expenditure amount for purposes of calculating the fixed charge coverage ratio will increase by $175.0 thousand per quarter until it reaches $1.5 million, (ii) the addition of a maximum debt to capitalization ratio covenant, initially set at 0.60:1.00 for each quarter until December 31, 2023 and stepping down to 0.575:1.00 for each quarter until March 31, 2024 and 0.55:1.00 for each quarter until December 31, 2024 and thereafter, (iii) certain new EBITDA addbacks (and one historical EBITDA deduction in the amount of approximately $1.4 million for the quarter ended September 30, 2022) and (iv) certain amendments to the conditions for permitted acquisitions and accordion increases.
Secured Overnight Financing Rate (SOFR)
Subsequent Event [Line Items]
Revolving line of credit amount interest rate on outstanding		0.10%		1%	0.15%		0.25%
Base Rate
Subsequent Event [Line Items]
Revolving line of credit amount interest rate on outstanding				2.25%
Federal Funds Rate Plus
Subsequent Event [Line Items]
Revolving line of credit amount interest rate on outstanding				0.50%
Adjusted Base Rate
Subsequent Event [Line Items]
Revolving line of credit amount interest rate on outstanding				0.10%
Revolving Credit Facility | Adjusted Base Rate
Subsequent Event [Line Items]
Revolving line of credit amount interest rate on outstanding				1%
Credit Facilities Other Than Revolving Facility | Secured Overnight Financing Rate (SOFR)
Subsequent Event [Line Items]
Revolving line of credit amount interest rate on outstanding				1.25%
Fourth Amendment
Subsequent Event [Line Items]
Debt Instrument, Covenant Description				(i) waives certain existing events of default relating to the Company’s failure to comply with the financial covenants and financial reporting requirements set forth in the Credit Agreement for prior fiscal periods; (ii) reduces the aggregate revolving commitment and the aggregate delayed draw term loan commitment to $200,000,000 and $38,100,000, respectively; (iii) replaces the maximum debt to capitalization financial covenant with a minimum adjusted EBITDA financial covenant of not less than (1) $4,000,000 for the fiscal quarter ending September 30, 2023, (2) $17,000,000 for the two fiscal quarter period ending December 31, 2023, (3) $27,000,000 for the three fiscal quarter period ending March 31, 2024, (4) $34,000,000 for the four fiscal quarter period ending June 30, 2024, and (5) $35,000,000 for each four fiscal quarter period ending thereafter; (iv) adds a minimum liquidity covenant of $25,000,000 (or, for fiscal quarters ending in December, $15,000,000), which applies only for the fiscal quarters ending September 30, 2023 through and including December 31, 2024 (the “Covenant Modification Period”); (v) suspends the minimum fixed charge coverage ratio covenant for the fiscal quarters ending September 30, 2023 through and including June 30, 2024 and provides for a step-down of the minimum fixed charge coverage ratio to 1.00:1.00 for the remainder of the Covenant Modification Period; (vi) adds an equity cure right for the Company in the event of future breaches of the financial covenants; (vii) reduces revolver availability by (1) $15,000,000 during the months of February through September of each year and (2) $10,000,000 during the months of October through January of each year; (viii) suspends the exercise of incremental facilities during the Covenant Modification Period; (ix) restricts all permitted acquisitions during the term of the credit facilities, unless previously approved by the required Lenders; (x) increases in the applicable margin for all credit facilities to 3.00% for SOFR Loans and 2.00% for ABR Loans, which margins will step-up further if certain prepayments of the Term Loans are not made by certain dates prescribed in the Amendment; (xi) adds additional mandatory prepayments of (1) $10,000,000 by no later than March 31, 2024, (2) an additional $10,000,000 by no later than June 30, 2024 and (3) an additional $25,000,000 by no later than December 31, 2024; (xii) adds additional mandatory prepayments in the event that the Borrowers maintain a cash balance in excess of $20,000,000; (xiii) permits additional sales of certain real property with an aggregate appraised value of approximately $60,000,000, in addition to related personal property assets; and (xiv) adds certain additional reporting requirements to Agent and the Lenders.
Minimum liquidity covenant						$ 15,000,000
Minimum | Secured Overnight Financing Rate (SOFR)
Subsequent Event [Line Items]
Revolving line of credit amount interest rate on outstanding				1.50%
Subsequent Event [Member]
Subsequent Event [Line Items]
Impairments of intangible assets			$ 13,800,000
Goodwill impairment			$ 125,300,000
Subsequent Event [Member] | Fourth Amendment
Subsequent Event [Line Items]
Fiscal quarter ending September 30, 2023	$ 4,000,000
Fiscal quarter period ending December 31, 2023	17,000,000
Fiscal quarter period ending March 31, 2024	27,000,000
Fiscal quarter period ending June 30, 2024	34,000,000
Thereafter	35,000,000
Financial convenant adjustment	25,000,000
Minimum liquidity covenant	25,000,000
Debt instrument, periodic payment	20,000,000
Line of credit facility covenant aggregate appraised value	$ 60,000,000
Subsequent Event [Member] | Fourth Amendment | Secured Overnight Financing Rate (SOFR)
Subsequent Event [Line Items]
Revolving line of credit amount interest rate on outstanding	3%
Subsequent Event [Member] | Fourth Amendment | Alternate Base Rate
Subsequent Event [Line Items]
Revolving line of credit amount interest rate on outstanding	2%
Subsequent Event [Member] | Fourth Amendment | February through September
Subsequent Event [Line Items]
Available amount under line of credit	$ 15,000,000
Subsequent Event [Member] | Fourth Amendment | October through January
Subsequent Event [Line Items]
Available amount under line of credit	10,000,000
Subsequent Event [Member] | Fourth Amendment | March 31, 2024
Subsequent Event [Line Items]
Debt instrument, periodic payment	10,000,000
Subsequent Event [Member] | Fourth Amendment | June 30, 2024
Subsequent Event [Line Items]
Debt instrument, periodic payment	10,000,000
Subsequent Event [Member] | Fourth Amendment | December 31, 2024
Subsequent Event [Line Items]
Debt instrument, periodic payment	25,000,000
Subsequent Event [Member] | Fourth Amendment | Revolving Credit Facility
Subsequent Event [Line Items]
Maximum borrowing capacity	200,000,000
Subsequent Event [Member] | Fourth Amendment | Delay Draw Term Loan Facility
Subsequent Event [Line Items]
Maximum borrowing capacity	$ 38,100,000