Cover Page
Cover Page | 12 Months Ended |
Jun. 30, 2022 | |
Document Information [Line Items] | |
Document Type | POS AM |
Amendment Flag | false |
Entity Central Index Key | 0001862490 |
Entity Registrant Name | Tritium DCFC Limited |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Revenue | |||
Total revenue | $ 85,821,000 | $ 56,157,000 | $ 46,969,000 |
Cost of goods sold | |||
Total cost of goods sold | (86,161,000) | (58,061,000) | (47,943,000) |
Selling, general and administration expense | (74,323,000) | (31,624,000) | (23,615,000) |
Product development expense | (14,031,000) | (10,521,000) | (9,548,000) |
Foreign exchange gain/(loss) | (4,208,000) | (1,436,000) | (231,000) |
Total operating costs and expenses | (92,562,000) | (43,581,000) | (33,394,000) |
Loss from operations | (92,902,000) | (45,485,000) | (34,368,000) |
Other income (expense), net: | |||
Finance costs | (18,136,000) | (8,795,000) | (1,509,000) |
Transaction and offering related fees | (6,783,000) | (4,794,000) | 0 |
Fair value movements - derivatives and warrants | (9,782,000) | (5,947,000) | 0 |
Other income | 61,000 | 1,940,000 | 1,433,000 |
Total other expenses and other income | (34,640,000) | (17,596,000) | (76,000) |
(Loss) before income taxes | (127,542,000) | (63,081,000) | (34,444,000) |
Income tax expense | (20,000) | (11,000) | 0 |
Net (loss) | (127,562,000) | (63,092,000) | (34,444,000) |
Net (loss) per common share | |||
Net (loss) per common share attributable to common shareholders | $ (127,562,000) | $ (63,091,853) | $ (34,444,303) |
Basic – common shares | $ (1.01) | $ (0.58) | $ (0.33) |
Diluted – common shares | $ (1.01) | $ (0.58) | $ (0.33) |
Weighted average shares outstanding | |||
Basic – common shares | 126,814,171 | 99,915,563 | 97,565,239 |
Diluted – common shares | 126,814,171 | 99,915,563 | 97,565,239 |
Comprehensive Loss | |||
Net (loss) | $ (127,562,000) | $ (63,092,000) | $ (34,444,000) |
Other comprehensive (loss) (net of tax) | |||
Change in foreign currency translation adjustment | 7,336,000 | (136,000) | (600,000) |
Total other comprehensive (loss) (net of tax) | 7,336,000 | (136,000) | (600,000) |
Total comprehensive (loss) | (120,226,000) | (63,228,000) | (35,044,000) |
Service and Maintenance Revenue External Parties [Member] | |||
Revenue | |||
Total revenue | 4,989,000 | 2,594,000 | 5,489,000 |
Service and Maintenance Revenue Related Parties [Member] | |||
Revenue | |||
Total revenue | 0 | 1,000 | 2,000 |
Hardware Revenue External Parties [Member] | |||
Revenue | |||
Total revenue | 69,243,000 | 32,299,000 | 34,095,000 |
Hardware Revenue Related Parties [Member] | |||
Revenue | |||
Total revenue | 11,589,000 | 21,263,000 | 7,383,000 |
Service And Maintenance [Member] | |||
Cost of goods sold | |||
Total cost of goods sold | (3,778,000) | (2,873,000) | (2,138,000) |
Hardware [Member] | |||
Cost of goods sold | |||
Total cost of goods sold | $ (82,383,000) | $ (55,188,000) | $ (45,805,000) |
Legacy Tritium Class C Shares [Member] | |||
Net (loss) per common share | |||
Basic – common shares | $ 0 | $ (0.58) | $ (0.33) |
Diluted – common shares | $ 0 | $ (0.58) | $ (0.33) |
Weighted average shares outstanding | |||
Basic – common shares | 8,047,417 | 8,047,417 | |
Diluted – common shares | 8,047,417 | 8,047,417 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Assets | ||
Cash and cash equivalents | $ 70,753 | $ 6,157 |
Accounts receivable - related parties | 16 | 2,991 |
Accounts receivable - external parties | 30,816 | 11,318 |
Accounts receivable - allowance for expected credit losses | (275) | (227) |
Inventory | 55,706 | 36,430 |
Prepaid expenses | 4,873 | 918 |
Deposits | 15,675 | 4,912 |
Total current assets | 177,564 | 62,499 |
Property, plant and equipment, net | 11,151 | 5,689 |
Operating lease right of use assets, net | 24,640 | 18,312 |
Deposits | 0 | 1,350 |
Total non-current assets | 35,791 | 25,351 |
Total assets | 213,355 | 87,850 |
Liabilities and Shareholders' Deficit | ||
Accounts Payable | 47,603 | 17,135 |
Borrowings | 74 | 36,571 |
Contract liabilities | 37,727 | 9,198 |
Employee benefits | 2,653 | 2,037 |
Other provisions | 27,623 | 5,349 |
Obligations under operating leases | 4,020 | 2,941 |
Financial instruments – derivative | 0 | 874 |
Other current liabilities | 2,939 | 6,101 |
Warrants | 12,340 | 0 |
Total current liabilities | 134,979 | 80,206 |
Obligations under operating leases | 25,556 | 17,660 |
Contract liabilities | 2,231 | 1,618 |
Employee benefits | 217 | 125 |
Borrowings net of unamortized issuance costs | 88,269 | 37,369 |
Related party borrowings | 0 | 6,392 |
Other provisions | 2,652 | 2,541 |
Financial instruments - derivative | 0 | 5,947 |
Other non-current liabilities | 0 | 0 |
Total non-current liabilities | 118,925 | 71,652 |
Total liabilities | 253,904 | 151,858 |
Commitments and Contingent liabilities | ||
Shareholders' Deficit | ||
Treasury shares, 4,200,371 as of June 30, 2022 (7,890,800 as of June 2021) | 0 | 0 |
Additional paid in capital | 19,210 | 5,601 |
Accumulated other comprehensive income (loss) | 3,640 | (3,696) |
Accumulated deficit | (290,667) | (163,105) |
Total Shareholders' deficit | (40,549) | (64,008) |
Total Liabilities, and Shareholders' deficit | 213,355 | 87,850 |
Common Stock [Member] | ||
Shareholders' Deficit | ||
Common stock, Value | 227,268 | 92,809 |
Legacy Tritium Class C Shares [Member] | ||
Shareholders' Deficit | ||
Common stock, Value | $ 0 | $ 4,383 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Position (Parenthetical) - $ / shares | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Common stock par or stated value per share | $ 0 | $ 0 |
Common stock shares authorized | Unlimited | Unlimited |
Common stock shares issued | 153,094,269 | 107,806,361 |
Common stock shares outstanding | 148,893,898 | 99,915,561 |
Treasury stock shares | 4,200,371 | 7,890,800 |
Legacy Tritium Class C Shares [Member] | ||
Common stock par or stated value per share | $ 0 | $ 0 |
Common stock shares authorized | Unlimited | Unlimited |
Common stock shares issued | 0 | 8,052,499 |
Common stock shares outstanding | 0 | 8,052,499 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Deficit - USD ($) $ in Thousands | Total | Shadow Equity Plan [Member] | Common Stock [Member] | Common Stock [Member] Shadow Equity Plan [Member] | Common Stock [Member] Tritium Class C Shareholders [Member] | Legacy Tritium Class C Shares [Member] | Legacy Tritium Class C Shares [Member] Tritium Class C Shareholders [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] Shadow Equity Plan [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | DCFC Founder Share [Member] | DCFC Founder Share [Member] Common Stock [Member] | DCFC Founder Share [Member] Legacy Tritium Class C Shares [Member] | DCFC Founder Share [Member] Treasury Stock [Member] | DCFC Founder Share [Member] Additional Paid-in Capital [Member] | DCFC Founder Share [Member] AOCI Attributable to Parent [Member] | DCFC Founder Share [Member] Retained Earnings [Member] |
Beginning balance (in shares) at Jun. 30, 2019 | 91,348,247 | 8,052,499 | (3,025,486) | ||||||||||||||||
Beginning balance at Jun. 30, 2019 | $ 7,465 | $ 69,132 | $ 4,383 | $ 0 | $ 2,479 | $ (2,960) | $ (65,569) | ||||||||||||
Share-based payment compensation (in shares) | 0 | 0 | 0 | ||||||||||||||||
Share-based payment compensation | 0 | $ 0 | $ 0 | $ 0 | 0 | 0 | 0 | ||||||||||||
Issuance of shares (in shares) | 11,592,800 | ||||||||||||||||||
Issuance of shares | 23,910 | $ 23,910 | |||||||||||||||||
Equity issuance cost | (233) | $ (233) | |||||||||||||||||
Net loss | (34,444) | (34,444) | |||||||||||||||||
Change in foreign currency translation adjustment | (600) | (600) | |||||||||||||||||
Ending balance (in shares) at Jun. 30, 2020 | 102,941,047 | 8,052,499 | (3,025,486) | ||||||||||||||||
Ending Balance at Jun. 30, 2020 | (3,902) | $ 92,809 | $ 4,383 | $ 0 | 2,479 | (3,560) | (100,013) | ||||||||||||
Share-based payment compensation (in shares) | 4,865,315 | 0 | (4,865,315) | ||||||||||||||||
Share-based payment compensation | 3,122 | $ 0 | $ 0 | $ 0 | 3,122 | 0 | 0 | ||||||||||||
Issuance of DCFC Common Stock related to the Shadow Equity Plan (in shares) | 1,175,601 | ||||||||||||||||||
Net loss | (63,092) | (63,092) | |||||||||||||||||
Change in foreign currency translation adjustment | (136) | (136) | |||||||||||||||||
Ending balance (in shares) at Jun. 30, 2021 | 107,806,361 | 8,052,499 | (7,890,800) | ||||||||||||||||
Ending Balance at Jun. 30, 2021 | (64,008) | $ 92,809 | $ 4,383 | $ 0 | 5,601 | (3,696) | (163,105) | ||||||||||||
Issuance of shares (in shares) | 6,537,973 | 8,052,499 | (8,052,499) | 1 | 0 | 0 | |||||||||||||
Issuance of shares | 49,962 | $ 45,112 | $ 4,383 | $ (4,383) | 4,850 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | |||||||
Conversion of Convertible Notes into DCFC Common Stock (in shares) | 4,288,311 | ||||||||||||||||||
Conversion of Convertible Notes into DCFC Common Stock | 42,570 | $ 42,570 | |||||||||||||||||
Conversion of DCRN Class A and Class B shares into DCFC Common Stock (in shares) | 15,380,694 | ||||||||||||||||||
Conversion of DCRN Class A and Class B shares into DCFC Common Stock | (12,750) | $ (12,750) | |||||||||||||||||
Issuance of DCFC Common Stock related to the Option Agreements and PIPE Financing (in shares) | 10,000,000 | ||||||||||||||||||
Issuance of DCFC Common Stock related to the Option Agreements and PIPE Financing | 60,000 | $ 60,000 | |||||||||||||||||
Issuance of DCFC Common Stock related to the Shadow Equity Plan (in shares) | 1,175,601 | ||||||||||||||||||
Issuance of DCFC Common Stock related to the Shadow Equity Plan | $ 15,107 | $ 11,845 | $ 3,262 | ||||||||||||||||
Modification of the Loan Funded Share Plan (in shares) | (147,171) | 3,690,429 | |||||||||||||||||
Modification of the Loan Funded Share Plan | 6,381 | $ 0 | $ 0 | 6,381 | |||||||||||||||
Stock-based compensation | 5,932 | 5,932 | |||||||||||||||||
Transaction costs | (16,701) | $ (16,701) | |||||||||||||||||
Waiver of related party's option to acquire Tritium | (6,816) | (6,816) | |||||||||||||||||
Net loss | (127,562) | (127,562) | |||||||||||||||||
Change in foreign currency translation adjustment | 7,336 | 7,336 | |||||||||||||||||
Ending balance (in shares) at Jun. 30, 2022 | 153,094,269 | 0 | (4,200,371) | ||||||||||||||||
Ending Balance at Jun. 30, 2022 | $ (40,549) | $ 227,268 | $ 0 | $ 0 | $ 19,210 | $ 3,640 | $ (290,667) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Cash flows from operating activities | |||
Net loss | $ (127,562) | $ (63,092) | $ (34,444) |
Reconciliation of net loss to net cash used in operating activities | |||
Share-based compensation expense | 28,188 | 8,371 | |
Foreign exchange gains or losses | 1,436 | 213 | |
Depreciation | 2,198 | 2,312 | 1,309 |
Borrowing costs | 1,518 | 725 | |
Fair value movements – derivatives and warrants | 9,782 | 5,947 | 0 |
Adjustment for capitalized interest | 12,761 | 8,559 | |
Changes in operating assets and liabilities | |||
Accounts receivable | (16,475) | (1,063) | (4,755) |
Inventory | (19,276) | (8,771) | (2,455) |
Accounts payable | 3,263 | 6,619 | (1,085) |
Employee benefits | 708 | 720 | 507 |
Other liabilities | 37,020 | 9,069 | 1,800 |
Other assets | (18,965) | (2,567) | (2,269) |
Net cash used in operating activities | (86,840) | (32,460) | (40,436) |
Cash flows from investing activities | |||
Payments for property, plant and equipment | (7,023) | (2,572) | (1,309) |
Net cash used in investing activities | (7,023) | (2,572) | (1,309) |
Cash flows from financing activities | |||
Proceeds from issuance of Common Stock in the Business Combination | 53,182 | ||
Transaction costs paid | (3,808) | ||
Proceeds from the exercise of warrants | 26,572 | ||
Proceeds from issuance of Common Stock pursuant to the PIPE Financing | 15,000 | ||
Proceeds from issuance of Common Stock pursuant to the Option Agreements | 45,000 | ||
Proceeds from issuance of legacy Tritium ordinary shares | 23,677 | ||
Proceeds from borrowings – external parties | 117,527 | 33,029 | |
Proceeds from borrowings – related parties | 5,150 | ||
Proceeds from convertible notes including derivative | 33,367 | ||
Transaction costs for borrowings | (3,888) | (1,162) | |
Repayment of borrowings - external parties | (77,351) | (12,392) | |
Repayment of borrowings - related parties | (6,414) | ||
Waiver of related party's option to acquire Tritium | (6,816) | ||
Net cash provided by financing activities | 159,004 | 33,367 | 48,302 |
Effects of exchange rate changes on cash and cash equivalents | (545) | 120 | (60) |
Net increase / (decrease) in cash and cash equivalents | 65,141 | (1,665) | 6,557 |
Cash and cash equivalents at the beginning of the period | 6,157 | 7,702 | 1,205 |
Cash and cash equivalents end of the period | $ 70,753 | $ 6,157 | $ 7,702 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | Note 1 – Summary of Significant Accounting Policies The principal accounting policies adopted in the preparation of the financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Basis of preparation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). For the purpose of these consolidated financial statements, intercompany accounts, transactions, and profits are eliminated on consolidation. Description of Business and General information Tritium Holdings Pty Ltd (“Legacy Tritium” or “Tritium Holdings”) is in the business of development, design, testing and manufacturing of innovative power electronic systems and renewable energy solutions. Decarbonization Plus Acquisition Corporation II (“DCRN”) was incorporated in Delaware, United States of America on December 4, 2020. DCRN was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Tritium DCFC Limited (“Tritium DCFC” or the “Group“) is a holding company incorporated in Australia on May 7, 2021 for the purpose of effectuating the Business Combination described below. On May 25, 2021 , Tritium DCFC entered into a Business Combination agreement (the “Business Combination Agreement” or “BCA”) with Tritium Holdings and DCRN. On January 13, 2022 (the “Closing Date”), the BCA was consummated and Tritium Holdings and DCRN became wholly owned subsidiaries of Tritium DCFC (the “Business Combination”). Principles of consolidation The Business Combination has been accounted for as a reverse recapitalization, with no goodwill or other intangible assets recorded, in accordance with accounting principles generally accepted in the United States. Under this method of accounting, Tritium DCFC and DCRN have been treated as the “acquired” companies for financial reporting purposes. For accounting purposes, Tritium Holdings has been deemed to be the accounting acquirer in the transaction and, consequently, the transaction has been treated as a recapitalization of Tritium Holdings (i.e., a capital transaction involving the issuance of shares by Tritium Holdings for the net assets of DCRN, accompanied by a recapitalization of Tritium Holdings). Consequently, Tritium Holdings has been deemed the accounting predecessor, meaning that Tritium Holdings’ consolidated assets, liabilities and results of operations have become the historical financial statements of the Group. The financial statements presented have been prepared on the basis of the continuation of Tritium Holdings. Further information is included in Note 28. Subsidiaries Subsidiaries are all entities (including structured entities) over which the Company 8 Presentation The financial statements are presented in United States dollars which is the consolidated Group’s elected reporting currency. All amounts disclosed in the financial statements relate to the Group unless otherwise stated. The financial statements have been prepared on the historical cost basis, except for derivative financial instruments and warrant liabilities that have been measured at fair value and share-based compensation. Amounts in the consolidated financial statements have been rounded off to the nearest thousand dollars, unless otherwise stated. Going concern basis These consolidated financial statements have been prepared on the basis that the Group is a going concern. At June 30, 2022 the Group had a total shareholders’ deficit of $40.5 million. The Group incurred losses after tax of $127.6 million for the year ended June 30, 2022 (2021: $63.1 million, 2020: $34.4 million). The Group incurred operating cash outflows of $86.8 million for the year ended June 30, 2022, compared to operating cash outflows of $32.5 million for the year to June 30, 2021 (2020: $40.4 million). As set out in Note 28 and Note 14, the business combination, the CIGNA re-financing, . The Group has also entered into a committed equity facility for up to $75 million with B.Riley Principal Capital II, LLC. However, the Board approved cash flow forecasts for the Group indicate that the Group will continue to incur significant operating cash outflows for at least 12 months from the date of this report to fund its expansion. In addition, as detailed in Note 14, the Group also has external borrowing facilities with CIGNA that require the Group to maintain minimum liquidity reserve levels throughout the term of the arrangement. The above events and conditions raise substantial doubt about the Group’s ability to continue as a going concern. As such, the ability of the Group to continue as a going concern is principally dependent upon one or more of the following: • the successful and profitable growth of the business; • the ability of the Group to meet its cashflow forecasts; and • the ability of the Group to raise capital as and when necessary. While management has secured a level of additional funding, in order to fund the operating cashflows and maintain these minimum liquidity reserve levels, it is likely that additional working capital funding will be required. If the Group is unable to raise additional capital, it may be required to take additional measures to conserve liquidity, which could include, but not necessarily be limited to, curtailing operations and reducing overhead expenses. The Directors believe that the going concern basis of preparation is appropriate as the Group has a history of being able to raise capital from debt and equity sources. Should the Group be unable to continue as a going concern, it may be required to realise its assets and extinguish its liabilities other than in the ordinary course of business, and at amounts that differ from those stated in these financial statements. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts or classification of liabilities and appropriate disclosures that may be necessary should the Group be unable to continue as a going concern. New and Amended Standards Adopted by the Group In October 2020, the FASB issued Accounting Standards Update (“ASU 2020-08”) Non-refundable 310-20-35-33 2020-08 In October 2020, the FASB issued Accounting Standards Update (“ASU 2020-10”) 2020-10 In December 2019, the FASB issued Accounting Standards Update (“ASU 2019-12”) Recently issued accounting standards In August, 2020, the FASB issued Accounting Standards Update (“ASU 2020-06”) 470-20) 815-40)”. In May 2021, the FASB issued Accounting Standards Update (“ASU 2021-04”) In October 2021, the FASB issued Accounting Standards Update (“ASU 2021-08”) In November 2021, the FASB issued ASU No. 2021-10, a) Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates and assumptions include but are not limited to: determining the lease term of contracts with renewal and termination options, discount rates, share-based compensation, estimation of the fair value of derivatives and warrants, estimation of useful lives of assets, impairment of assets, taxes, employee benefits provisions and warranty provision. Management bases its estimates on historical experience and on various other assumptions believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates due to risks and uncertainties and may be material. b) Revenue recognition Revenue from contracts with customers Revenue is recognized when or as the control of the goods or services are transferred to the customer. Depending on the terms of the contract, control of the goods or services may be transferred over time or at a point in time. If control of the goods or services transfers over time, revenue is recognized over the period of the contract by reference to the progress towards satisfying the performance obligation, otherwise, revenue is recognized at a point in time when the customer obtains control of the goods and services. Contracts with customers may include more than one performance obligation. For such arrangements, the Group allocates the contract price to each distinct performance obligation based on relative standalone selling price. All revenue is stated net of the amount of taxes. The specific recognition criteria described below must also be met before revenue is recognized. Sale of hardware revenue The Group generates revenue from the sale of electric vehicle chargers. The contracts with customers include distinct performance obligations relating to the sale of goods and other related services. The overall contract price is allocated to the distinct performance obligations based on the relative standalone selling price. Revenue from the sale of electric vehicle chargers is recognized at a point in time when the Group transfers control of the assets to the customer. The Group also provides for standard warranty rights for general repairs for either two or three years on all electric vehicle chargers sold. This standard warranty is not considered to be a separate performance obligation. The estimated warranty costs are recognized as a liability when the Group transfers control of the goods to a customer. Rendering of services revenue The Group generates revenue from services in relation to installation, repair, maintenance, and training. Generally, revenue in relation to rendering of services is recognized when the service has been provided, either over time or at a point in time. The Group recognizes the material portion of their revenue from services at a point of time when the service is delivered (i.e., For installation and repairs). However, if the service is performed over a period of time and if the outcome can be estimated reliably, then the stage of completion of the services based on an input method (i.e., costs incurred) is used to determine the appropriate level of revenue to be recognized in the period. The Group provides an extended warranty to its customers for an additional fee. Extended warranty revenue is recognized as a contract liability on receipt and recognized over the period in which the service is provided based on the time elapsed (this commences after the standard warranty expires). Bill-and-hold In certain circumstances, the Group’s customers may request the Group to store products on the customer’s behalf until the customer is ready to collect or have the goods delivered to their specified location. This may arise if customers are not ready to take delivery as a result, generally, of delays in their site construction and rollout or obtaining necessary customs clearances. In these situations, the transfer of control of these products to the customer occurs when the finished products are ready for delivery to the customer. In assessing the transfer of control in these “bill-and-hold” • billed the customers in full; • made the products available for the customer, end of line testing of the product is completed and notification made of the completion of manufacture; • identified the product physically and systematically as belonging to a specific customer and segregated in our warehouse; and • does not have the ability to direct the product to a different customer. In assessing bill-and-hold Costs to obtain a contract Costs to obtain a contract mainly relate to commissions paid to the Group’s sales personnel. As contract costs related to sales are typically fulfilled within one year, the costs to obtain a contract are expensed as incurred. Amounts billed to customers related to shipping and handling are classified as revenue. The cost for freight and shipping are recognized as an expense in cost of goods sold when control over the chargers, parts or accessories have transferred to the customer. Contract liabilities A contract liability balance typically arises due to allocation of a part of the consideration received to unsatisfied performance obligations, including extended warranty obligations under revenue contracts. Contract liabilities also arise due to receipt of advances from the customer, prior to satisfaction of performance obligations. The Group’s balance sheet includes customer advances and unearned revenue as contract liabilities. Grant income The Group received government incentives during the reporting periods in the form of the Job Keeper program which was a program aimed to support companies as a result of the COVID 19 pandemic. Grant income is recognized in the Consolidated Statement of Operations and Comprehensive Loss when the Group is entitled to the grant, it can be measured reliably, and it is probable that the economic benefits gained from the grant will be received. It is recognized as a liability until these conditions have been met. Government grants received by the Group are typically for the reimbursement of expenses incurred. c) Cost of sales Hardware Cost of hardware revenue includes raw materials, associated freight, Service and maintenance Cost of service and maintenance revenue includes spare part materials and labour costs, including the cost of subcontractors. d) Product development All costs associated with new product development are expensed as incurred, including software development costs. External use software development costs are expensed as incurred on the basis that the threshold of technical feasibility as defined in ASC 985, Software, has not been achieved. Product development costs primarily consist of employee compensation for those employees engaged in product development activities, including the development, design and testing of new products. e) Finance costs Finance costs are recognized as expenses in the period in which they are incurred. Interest on borrowings are recognised using the effective interest method. f) Income tax Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided when it is more likely than not that some portion of the deferred tax asset will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Group recognizes the effect of income tax positions or benefit from uncertain tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Group records interest related to unrecognized tax benefits in interest expense and penalties in selling, general, and administrative expenses. The Group has not incurred any material interest and penalties in the June 30, 2022, 2021 or 2020 periods. The Group does not have any material uncertain tax positions during the period recognized. g) Loans and debt securities Loans and debt securities issued are recognized on the date when they are originated at fair value. All other financial liabilities are initially recognized on the trade date. The Group derecognizes a financial liability when its contractual obligations are discharged or cancelled or expire. Where there is an unconditional right to defer settlement of the liability for at least months after the reporting date, the loans or borrowings are classified as non-current. Finance cost includes all interest-related expenses. h) Cash and cash equivalents Cash and cash equivalents include cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments that are readily convertible to known amounts of cash with an original maturity date of less than 90 days and which are subject to an insignificant risk of changes in value. i) Derivative Instruments The Group recognizes all derivative instruments as either assets or liabilities in the balance sheet at their respective fair values. The Group evaluates its debt and equity issuances to determine if those contracts or embedded components of those contracts qualify as derivatives requiring separate recognition in the Group’s financial statements. The result of this accounting treatment is that the fair value of the embedded derivative is revalued at each balance sheet date and recorded as a liability or an asset, and the change in fair value during the reporting period is recorded in other income (expense) in the Consolidated Statement of Operations and Comprehensive Loss. The current or non-current non-current net-cash j) Trade and other receivables Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The Group records an allowance for estimated credit losses for estimated losses inherent in its accounts receivable portfolio. In establishing the required allowance, the Group considers historical losses adjusted to take into account current market conditions and the Group’s customers’ financial condition, the amount of receivables in dispute, and the current receivables aging and current payment patterns. The Group reviews its allowance for credit losses monthly. The Group does not have any off-balance-sheet Trade accounts are generally written off as bad debts when they are both in dispute and significantly aged where the recoverability is considered unlikely. Balances are not considered past due until they are 30 days after the original due date of the payment. k) Inventory Inventories are measured at the lower of cost or net realizable value. The cost of inventory is determined using a weighted average approach basis and is net of any rebates and discounts received. The costs of inventory included in the Consolidated Statement of Operations and Comprehensive Loss includes directly attributable overhead costs to manufacture, raw materials purchases, associated freight and labour costs. The provision for impairment of inventories assessment requires a degree of estimation and judgement. The level of the provision is assessed by taking into account the recent sales experience, the aging of inventories and other factors that affect inventory obsolescence. The inventory obsolescence provision recognised as of June 30, 2022 is $0.5 million. There is no material provision for impairment recognized as of June 30, 2021. l) Property, plant and equipment Recognition and measurement The Group’s fixed assets are stated at cost. Fixed assets, excluding freehold land, are depreciated on a straight-line and declining balance basis over the assets useful life to the Group, commencing when the asset is ready for use. Depreciation Leasehold improvements are amortized over the shorter of either the unexpired period of the lease or their estimated useful life. The depreciation rates generally used for each class of depreciable asset are shown below: • Plant and equipment 12.5% - 33.34% • Furniture, Fixtures and Fittings 10.00% • Motor Vehicles 33.34% • Office Equipment 20.00% • Computer Equipment 33.34% An item of fixed asset and any material part initially recognized is derecognized upon disposal. Any gain or loss arising on de-recognition of the fixed asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the Consolidated Statement of Operations and Comprehensive Loss when the asset is derecognized. At the end of each annual reporting period, the depreciation method, useful life and residual value of each asset is reviewed. Any revisions are accounted for prospectively as a change in estimate. The costs of maintenance and repairs are expensed as incurred. Software as a service (“SaaS”) usage costs are also expensed as incurred. m) Impairment of long-lived assets Long-lived assets such as fixed assets subject to depreciation are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Group first compares the undiscounted cash flows expected to be generated by that asset or asset group to its carrying amount. If the carrying amount of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying amount exceeds its recoverable amount. Recoverable amount is determined through various valuation techniques including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. As of June 30, 2022 and 2021 the Group determined that there were no indicators of impairment and did not recognize any impairment of its long-lived assets. n) Leases The Group leases a number of office and warehouse facilities for its operations. These leases predominately relate to operating leases. The Group did not have any material f inance The Group as Lessee The Group assesses whether a contract is or contains a lease, at inception of a contract. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time and obtain all the output, in exchange for consideration. In such instances, the Group recognizes a right-of-use Measurement and presentation of lease liability For operating leases, the lease liability is initially and subsequently measured at the present value of the unpaid lease payments at the lease commencement date. The Group has elected the practical expedient to account for lease and non-lease Key estimates and judgments include how the Group determines the lease term of contracts with renewal and termination options. Where this exists, management has included renewal and termination options where there is a reasonable certainty that it will be exercised. Generally, the Group’s non-cancellable An additional key estimate and judgment is the determination of the discount rate. Topic 842 requires a lessee to discount its unpaid lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, its incremental borrowing rate. Generally, the Group cannot determine the interest rate implicit in the lease because it does not have access to the lessor’s estimated residual value or the amount of the lessor’s deferred initial direct costs. Therefore, the Group generally uses its incremental borrowing rate as the discount rate for the lease. The incremental borrowing rate is the rate of interest that the Group would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. The lease liability is separately disclosed on the Consolidated Statement of Financial Position. The liabilities which will be repaid within twelve months are recognized as current and the liabilities which will be repaid in excess of twelve months are recognized as non-current. The lease liability is subsequently measured by reducing the balance to reflect the principal lease repayments made and increasing the carrying amount by the interest on the lease liability. The Group is required to remeasure the lease liability and make an adjustment in the following instances: • The term of the lease has been modified or there has been a change in the Group’s assessment of a purchase option being exercised, in which case the lease liability is remeasured by discounting the revised lease payments using a revised discount rate; • A lease contract is modified, and the lease modification is not accounted for as a separate lease, in which case the lease liability is remeasured by discounting the revised lease payments using a revised discount rate; and • The lease payments are adjusted due to changes in the index or a change in expected payment under a guaranteed residual value, in which cases the lease liability is remeasured by discounting the revised lease payments using the initial discount rate. However, if a change in lease payments is due to a change in a floating interest rate, a revised discount rate is used. Measurement and presentation of right-of-use • The right-of-use right-of-use • Any remeasurement of the lease liability is also applied against the right-of-use value Extension options The lease term for the Group’s leases includes the non-cancelable o) Trade and other payables Trade and other payables are recognized as liabilities for goods and services provided to the Group prior to the end of the financial year and which are unpaid. Due to their short-term nature, they are measured at amortized cost and are not discounted. The amounts are unsecured and are usually paid within 30 days of recognition. p) Warranties The Group provides a manufacturer’s standard warranty on all electric vehicle chargers sold. The Group recognizes a warranty provision for the products sold based on the present value of future cash flows estimated to be required to settle the warranty obligation. The future cash flows have been estimated by reference to the Group’s history of warranty claims. The Group considers the standard warranty does not provide an incremental service to customers but is rather an assurance on the quality of the electric vehicle charger, and therefore is not a separate performance obligation. The Group also provides extended warranty services separately to the standard warranty. The extended warranty is an incremental service provided to the customers and as such the extended warranty is a separate performance obligation distinct from other promises and should be accounted for in accordance with ASC 606. The Group also recognizes a provision for future extended warranty measured at the present value of management’s best estimate of the outflow required to settle the obligation at the end of the reporting period. The portion of the warranty provision expected to be incurred within the next 12 months is included within current provisions, while the remaining balance is included within non-current q) Employee benefits Liabilities in respect of employee benefits which are not due to be settled within twelve months are discounted at period end using rates which most closely match the terms of maturity of the related liabilities. Employee benefits expected to be settled more than one year after the end of the reporting period have been measured at the present value of the estimated future cash outflows to be made for those benefits. In determining the liability, consideration is given to employee wage increases and the probability that the employee may satisfy vesting requirements. Wages, salaries, annual and long service leave The provision for employee entitlements to wages, salaries and annual and long service leave represents the amount which the Group has a present obligation to pay resulting from employees’ services provided up to the reporting date. Provisions have been calculated based on expected wage and salary rates and include related on-costs. Pension contribution Defined contribution pension plans exist to provide benefits for eligible employees or their dependants. Contributions by the Group are expensed to the Consolidated Statement of Operations and Comprehensive Loss as incurred. Annual bonus The Group recognizes a liability for bonuses based on a formula that takes into consideration the specific performance indicators outlined in employee contracts. The Group recognizes a liability where it is contractually obliged to pay an amount under the bonus plan or where there is a past practice that has created a constructive obligation. Termination Termination benefits are recognized as an expense when the Group is demonstrably committed, without realistic possibility of withdrawal, to a formal detailed plan to terminate employment before the normal retirement date. Termination benefits for voluntary redundancies are recognized if the Group has made an offer encouraging voluntary redundancy, it is probable that the offer will be accepted, and the number of acceptances can be estimated reliably. Share-based compensation (issued prior to BCA) Employees of the Group received remuneration in the form of share-based arrangements, whereby employees render services as consideration for equity instruments under the Group’s Loan Funded Share Plan (LFSP), or cash settlement under the Group’s Shadow Equity Plan (SEP). Awards issued under the LFSP are equity settled arrangements and are measured at the fair value of these awards at the grant date. A Black-Scholes model is utilized to estimate the fair value of the awards. The Group recognizes this share-based compensation expense at grant date as there are no service conditions attached to LFSP equity awards. For share-based compensation, the expense is measured at the grant date, based on the fair value of the award considering the market conditions, and then recorded over the requisite service period if the performance condition is probable. For periods prior to the Business Combination being completed, because there was no public market for common shares, the fair value of the common shares at the time of grant is considered the price per share paid by investors in the company’s private financings in addition to independent external valuations obtained. Additionally, in applying the Black-Scholes model, the Group has assessed the implied volatility utilised by estimating based on similar publicly traded peer companies (as it had no company-specific performance measures). Further details as to the inputs into the fair value of the respective grants is outlined in Note 23. Awards issued under the Group’s SEP were originally cash-settled arrangements. The Group recognizes cash settled transactions as a liability on the grant of the award. The Group initially measures the cash-settled transactions with employees at fair value to determine the fair value of the liability incurred. The Group recognizes share-based compensation over the period during which an employee is required to provide a service in exchange for the award. For cash-settled share-based compensation, the liability is remeasured at the end of each reporting period up to the date of settlement, with any changes in the expected settlement amounts recognized in comprehensive loss as a share-based compensation expense over the period during which an employee is required to provide service in exchange for the award. This requires a reassessment of the estimates used at the end of each reporting period. Subsequent to the Business Combination, Tritium’s board of directors made a determination that the benefit owed to participants under the SEP could be paid to participants in the form of cash or shares and settled the awards through the issuance of Ordinary Shares. Share-based compensation (Post BCA) Employees of the Group receive remuneration in the form of share-based arrangements, whereby employees render services as consideration for equity instruments under the Tritium DCFC Long Term Incentive Plan (“LTIP”). For share-based compensation, the expense is measured at the grant date, based on the fair value of the award considering the market conditions, and then recorded over the requisite service period if the performance condition is probable. Where the service period has commenced prior to the grant date, an estimate of the fair value of the award has been determined to record the requisite expense. The Group recognizes share-based compensation over the period during which an employee is required to provide a service in exchange for the award. r) Net loss per share Subsequent to the BCA, the net loss per share information is determined using the |
Revenue and Other Income
Revenue and Other Income | 12 Months Ended |
Jun. 30, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Revenue and Other Income | Note 2 - Revenue and Other Income Year Ended Year Ended Year Ended (a) Revenue from contracts with customers Sale of hardware – external parties 69,243 32,299 34,095 Sale of hardware – related parties 11,589 21,263 7,383 Sale of service and maintenance – external parties 4,989 2,594 5,489 Sale of service and maintenance – related parties — 1 2 Total revenue 85,821 56,157 46,969 (b) Other income Interest received 7 12 18 Government grants 18 1,757 1,412 Other income 36 171 3 Total other income 61 1,940 1,433 During the fiscal year ended June 30, 2022, a number of customers requested us to provide our products on a bill-and-hold basis. Changes and delays to the customers’ site rollout schedules has contributed to the significant bill-and-hold arrangements for this period. The revenue under the bill-and-hold arrangements for the fiscal year ended June 30, 2022 contributed to Sale of hardware reflects the revenues from the sale of electric vehicle chargers. Hardware revenue is broken down into the sale of Stand Alone, or Distributed Chargers, or other products provided to customers. This revenue is recognized at a point in time when the performance obligations per the terms of a contract are satisfied. Depending on specific contract terms, this may be at delivery or dispatch, or when bill and hold criteria are met. Service and maintenance revenues can reflect either a point in time or an overtime obligation dependent on the services provided. The substantial portion of service and maintenance revenue is satisfied at a point in time, with the exception of Service Level Agreements which are recorded overtime. Details on the reportable segments have been referenced in Note 21, Segment Reporting. |
Selling, General and Administra
Selling, General and Administration Expenses | 12 Months Ended |
Jun. 30, 2022 | |
Selling, General and Administrative Expense [Abstract] | |
Selling, General and Administration Expenses | Note 3 - Selling, General and Administration Expenses Year Ended Year Ended Year Ended Equity settled share-based compensation expense (12,339 ) (3,122 ) — Cash settled share-based compensation expense 9 (15,849 ) (5,249 ) — Wages, salaries, and other employee benefits (22,582 ) (14,543 ) (14,354 ) Depreciation expense (1,582 ) (2,312 ) (1,309 ) IT and communications (6,247 ) (1,660 ) (1,428 ) Occupancy (4,198 ) (1,464 ) (2,729 ) Sales and marketing (449 ) (188 ) (304 ) Insurance (3,370 ) (627 ) (382 ) Professional fees (5,625 ) (1,470 ) (1,439 ) Expected credit losses on trade receivables (61 ) (148 ) 151 Bad debt expenses (73 ) (21 ) (4 ) Travel, meals, and accommodation expenses (1,400 ) (178 ) (1,221 ) Other administration expenses (490 ) (290 ) (230 ) Other operating expenses (58 ) (352 ) (366 ) Total selling, general and administration expenses (74,323 ) (31,624 ) (23,615 ) Equity settled share-based compensation expense consists of $6.4 million recognised as a result of modifications to executive awards as a consequence of the Business Combination Agreement. The remainder is a result of the LTIP awarded during the fiscal year ended June 30, 2022. |
Finance Costs and Fair Value Mo
Finance Costs and Fair Value Movement | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure Of Finance Costs And Fair Value Movement [Abstract] | |
Finance Costs and Fair Value Movement | Note 4 - Finance Costs and Fair Value Movement Year Ended Year Ended Year Ended (a) Finance costs Interest on debt and borrowings (Note 14) (17,142 ) (8,588 ) (1,508 ) Other finance costs (994 ) (207 ) (1 ) Total finance costs (18,136 ) (8,795 ) (1,509 ) (b) Fair value movement Prepayment fee feature (6,291 ) (5,947 ) — Warrant liability (3,491 ) — — Total Fair value movement (9,782 ) (5,947 ) — As disclosed in Note 14, the prepayment fee feature in the borrowings agreement was determined to be an ‘embedded put option’ requiring recognition separate from the borrowing at fair value. 9 Expense relates to pre-business |
Transaction and Offering Relate
Transaction and Offering Related Fees | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure Of Transaction And Offering Related Fees [Abstract] | |
Transaction and Offering Related Fees | Note 5 - Transaction and Offering Related Fees Year Ended Year Ended Year Ended Professional fees (150 ) (4,794 ) — FBT tax expense (5,683 ) — — Other transaction and offering related fees (950 ) — — Total transaction and offering related fees (6,783 ) (4,794 ) — Transaction and offering related fees presented above are transactions costs in relation to the business combination agreement with Decarbonization Plus Acquisition Corporation. The FBT tax expense incurred is a result of the modification of various LFSP grants made to executives as a result of the business combination. |
Income Tax Expense
Income Tax Expense | 12 Months Ended |
Jun. 30, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Tax Expense | Note 6 - Income Tax Expense There is no provision for income taxes because the Group has historically incurred operating losses and maintains a full valuation allowance against its net deferred tax assets. The Group’s loss before provision for income taxes for the years ended June 30, 2022,2021 and 2020 was generated in Australia. As a result, any material income tax results arise in foreign jurisdictions. A reconciliation of the statutory income tax rate to the Group’s effective income tax rate is as follows: Year Ended Year Ended Year Ended Tax at the statutory tax rate of 30% (38,263 ) (18,928 ) (10,333 ) Tax effect amounts which are not deductible/(taxable) in calculating taxable income: Foreign tax rate differential 563 321 466 Non-deductible 6,778 3,389 504 Current year tax losses and temporary difference not recognized 30,902 15,207 9,363 Effective income tax (20 ) (11 ) — Net deferred tax assets as of June 30, 2022, 2021 and 2020 consisted of the following: As of As of Deferred tax assets Unused tax losses 62,717 36,797 Employee entitlements 1,294 650 Warranties 1,571 1,178 Lease liabilities 8,871 6,173 Other 3,987 5,262 Total deferred tax assets 78,440 50,060 Deferred tax liabilities Right of use assets (7,392 ) (5,476 ) Total deferred tax liabilities (7,392 ) (5,476 ) Valuation allowance applied (71,048 ) (44,584 ) Net deferred tax assets — — As of As of Changes in deferred taxation allowance Opening balance – July 1 (44,584 ) (25,989 ) (Increase) in deferred tax assets (excluding losses) (25,901 ) (15,818 ) Other movements including foreign currency and rate differential (563 ) (2,777 ) Valuation allowance on tax losses (71,048 ) (44,584 ) The Group has recognised a full valuation allowance for tax losses carried forward as of June 30, 2022, and 2021. The Group’s historical tax losses predominantly arose in Australia. At June 30, 2022 there are $197.8 million (2021: $107.9 million; 2020: $83.0 million) available indefinitely for offsetting against future taxable profits of the companies in which the losses arose, subject to certain tests being met. The losses are subject to confirmation with taxing authorities and the lodgement and finalization of income tax returns. The actual losses available on lodgement of these returns may be different. The future use is also uncertain due to Group operations, continuity of ownership limitations, tax law changes and compliance with existing tax law. Consequently, a full valuation allowance has been recorded. The Group files income tax returns in a number of jurisdictions including the United States, the Netherlands and Australia. Income tax returns for all jurisdictions except the Netherlands have been filed for the period ending June 30, 2021. Additionally, the Group has not filed income tax returns for the Netherlands relating to period June 2019 and June 2020, however, does not expect any material amendments, penalties, or interest to be incurred as a result of this late filing for the June 30, 2021, 2020 and 2019 year e |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Jun. 30, 2022 | |
Cash and Cash Equivalents [Abstract] | |
Cash and Cash Equivalents | Note 7 – Cash and Cash Equivalents June 30, 2022 June 30, 2021 Cash and cash equivalents 70,753 6,157 Cash and cash equivalents represent cash held with financial institutions. Under the $90.0 million CIGNA Refinance Loan agreement disclosed in Note 14, the Group is required to maintain a Liquidity Reserve that is no less than $65.0 million. As disclosed in Note 29, the Liquidity Reserve requirement was reduced from $65.0 million to $25 million pursuant to the First Amendment Deed on July 13, 2022. |
Accounts Receivable, Net of All
Accounts Receivable, Net of Allowance for Expected Credit Losses | 12 Months Ended |
Jun. 30, 2022 | |
Receivables [Abstract] | |
Accounts Receivable, Net of Allowance for Expected Credit Losses | Note 8 - Accounts Receivable, Net of Allowance for Expected Credit Losses June 30, 2022 June 30, 2021 Account receivable – related parties 16 2,991 Trade receivables 28,559 9,427 Less: Allowance for expected credit losses (275 ) (227 ) Sales tax receivable 1,150 1,037 Other receivables 1,107 854 Total accounts receivables – external parties 30,541 11,091 Consolidated Expected credit loss rate Carrying amount Allowance for expected credit losses 2022 2021 2022 2021 2022 2021 % % $ ’000 $ ’000 $ ’000 $ ’000 Less than 30 days past due — — 16,337 7,867 — — 30 to 60 days past due — — 1,674 2,512 — — 61 to 90 days past due — — 710 562 — — Greater than 90 days past due 2.8 15.4 9,854 1,477 (275 ) (227 ) 28,575 12,418 (275 ) (227 ) Based on the assessment of specific customers where the balance is over 90 days past due, the Group has concluded that there is no indication of material increase in risk of recovery. As such, the Group considers the current expected credit loss rate to be appropriate Provision June 30, 2022 June 30, 2021 Opening balance of provision – July 1 (227 ) (73 ) Provision created during the year (255 ) (145 ) Recoveries during the year 171 — Foreign currency translation movements 36 (9 ) Closing balance of provision – June 30 (275 ) (227 ) |
Inventory
Inventory | 12 Months Ended |
Jun. 30, 2022 | |
Inventory Disclosure [Abstract] | |
Inventory | Note 9 - Inventory June 30, 2022 June 30, 2021 Raw materials and consumables 44,843 24,431 Work in progress 4,561 1,132 Finished goods 3,457 10,069 Stock in transit 2,845 798 Total inventory 55,706 36,430 Inventory has been recorded at the lower of cost or net realisable value. A total of $0.5 million is recognized in inventory obsolescence provisions at June 30, 2022 (2021: nil). |
Prepaid Expenses
Prepaid Expenses | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure Of Prepaid Expenses [Abstract] | |
Prepaid Expenses | Note 10 - Prepaid Expenses June 30, 2022 June 30, 2021 Prepaid expenses 4,873 918 Prepaid expenses reflect the monies paid for operating expenses to be expensed over the committed term. The $4.9 million at June 30, 2022 is primarily related to the prepaid premium for director and officer liability insurance. |
Deposits
Deposits | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of Deposit [Abstract] | |
Deposits | Note 11 - Deposits June 30, 2022 June 30, 2021 Current assets Term deposits held against bank guarantees 3,796 401 Supplier deposits 11,879 4,511 Total current deposits 15,675 4,912 Non-current Term deposits held against bank guarantees — 1,350 Supplier deposits — — Total non-current — 1,350 Supplier deposits are funds paid by the Group to suppliers for manufacturing and prepayments for services or utilities to be provided and invoiced later by the supplier. |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Jun. 30, 2022 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | Note 12 – Property, Plant and Equipment Plant and Furniture, Motor Computer Leasehold Construction Total $’000 $’000 $’000 $’000 $’000 $’000 $’000 Year ended June 30, 2021 Opening net book amount 2,176 277 229 225 1,877 — 4,784 Additions 2,168 36 182 292 381 — 3,059 Disposals — — (99 ) (148 ) — — (247 ) Depreciation (1,040 ) (185 ) (63 ) (372 ) (652 ) — (2,312 ) Exchange rate variation 185 27 (5 ) 21 177 — 405 Closing net book amount 3,489 155 244 18 1,783 — 5,689 Year ended June 30, 2021 Cost 5,648 606 457 1,403 3,524 — 11,638 Accumulated depreciation (2,159 ) (451 ) (213 ) (1,384 ) (1,741 ) — (5,948 ) Net book amount 3,489 155 244 18 1,783 — 5,689 Year ended June 30, 2022 Opening net book amount 3,489 155 244 18 1,783 — 5,689 Additions 1,350 60 23 423 236 5,929 8,021 Disposals — — — — — — — Depreciation (988 ) (102 ) (55 ) (444 ) (609 ) — (2,198 ) Exchange rate variation (223 ) (9 ) (33 ) 17 (113 ) — (361 ) Closing net book amount 3,628 104 179 14 1,297 5,929 11,151 Year ended June 30, 2022 Cost 6,515 616 430 1,707 3,464 5,929 18,661 Accumulated depreciation (2,887 ) (512 ) (251 ) (1,693 ) (2,167 ) — (7,510 ) Net book amount 3,628 104 179 14 1,297 5,929 11,151 Depreciation expense is recorded within cost of goods sold and operating costs in the Consolidated Statements of Operations and Comprehensive Loss and amounted to $2.2 million for the year ended June 30, 2022 (2021: $2.3 million, 2020: $1.3 million). |
Accounts Payable
Accounts Payable | 12 Months Ended |
Jun. 30, 2022 | |
Payables and Accruals [Abstract] | |
Accounts Payable | Note 13 – Accounts Payable June 30, 2022 June 30, 2021 Current liabilities Trade payables 31,041 10,982 Accrued expenses 1,461 1,270 Other payables 6,385 3,894 Sales tax payable 8,623 965 Related party payables 93 24 Total accounts payable 47,603 17,135 Trade and other payables are unsecured, non-interest |
Borrowings
Borrowings | 12 Months Ended |
Jun. 30, 2022 | |
Debt Disclosure [Abstract] | |
Borrowings | Note 14 - Borrowings June 30, 2022 June 30, 2021 Current liabilities Convertible notes — 36,546 Other borrowings 74 25 Total current borrowings 74 36,571 Non-current Interest-bearing borrowings 88,269 38,350 Related party borrowings — 6,392 Borrowing costs — (981 ) Total non-current 88,269 43,761 Total borrowings 88,343 80,332 Borrowing costs have been included in the interest-bearing borrowings line item in the current year. June 30, 2022 June 30, 2021 Borrowings Rollforward Opening Balance – July 1 80,332 35,543 Drawdowns of facilities 117,527 32,493 Transaction costs paid (3,888 ) — Issuance costs of borrowings capitalised — 286 Repayment of borrowings ( (72,407 ) — Accrued Interest 12,761 8,273 Conversion of convertible notes (42,570 ) — Credit card borrowings 49 10 Foreign currency translations movements (3,461 ) 3,727 Closing Balance – June 30 88,343 80,332 Current borrowings Mandatorily Convertible notes The Group recognized the issuance of zero coupon mandatorily convertible notes in January and May 2021 with a subscription value of the AUD equivalent of $32.6 million and a maturity date of 12 months from the date of issuance. The notes were settled through the issue of a variable number of common shares equivalent to the face value of the notes determined by reference to the fair value of the shares at redemption date less a 30% discount for the January 2021 issuance and 20% discount for the May 2021 issuance. On January 13, 2022 the Business Combination Agreement was consummated resulting in 1,704,632 shares issued for the January 2021 subscription and 1,209,290 shares issued for the May 2021 subscription. The total value of shares issued was $42.6 million with the difference between the carrying amount and the value of shares issued being recognised as interest expenses in the income statement. Non-current Senior Loan Note Subscription Agreement On April 30, 2020, the Group entered into a Senior Loan Note Subscription Agreement (“borrowings”) for finance of $33.8 million. On July 22, 2021, the Group entered into the Amendment Deed Senior Loan Note Subscription Agreement (“borrowings”) for finance of a further $29.0 million. The borrowings attracted interest at the coupon rate of 11%. This accrued interest on borrowings is capitalized into the balance of the borrowings and was repayable in full with the principal at termination date. The borrowings were payable on the loan termination date of December 31, 2024, or upon the occurrence of certain events such as change in control, IPO event, among others; whichever is the earliest. The borrowings contained a change in control clause that required an immediate repayment of the principal and capitalised interests, together with a prepayment fee upon occurrence of a change in control event. The prepayment fee feature in the borrowings agreement was determined to be an ‘embedded put option’ requiring recognition separate from the borrowing at fair value. On January 13, 2022 Tritium DCFC Limited consummated the Business Combination Agreement and the borrowings and prepayment were paid on February 1, 2022. The total balance paid was $77.4 million, inclusive of the prepayment fee. Tritium Holdings Pty Ltd entered an agreement on December 7, 2021, to refinance the existing $66.0 million (exclusive of the prepayment fee) CIGNA Loan consisting of a new 3-year an Subsequent to the entry into the agreement and as a result of the high level of redemptions from DCRN’s public shareholders in connection with the Business Combination, the terms of the CIGNA Refinance Loan were adjusted to specify that the conditions to issuance include Tritium Holdings Pty Ltd holding a minimum cash balance of $50.0 million at completion of the Business Combination and $65.0 million (which has been reduced to $25 million in July 2022, refer to Note 29 for details) at such time as the additional funds were received from the legacy Tritium shareholders and DCRN Sponsor (the “Holders”) in connection with the option agreements (“Option Agreement”) pursuant to which, Tritium DCFC granted to the Holders the contingent right to subscribe for and purchase, and the Holders committed to subscribe for and purchase, an aggregate of up to 7,500,000 Ordinary Shares for an aggregate purchase price of up to $45.0 million, as well as the repayment of the existing CIGNA Loan. The borrowings are secured against the present and after-acquired property of Tritium Holdings Pty Ltd and Tritium Pty Ltd. The borrowings have a number of conditions including the following Financial Covenants commencing on March 31, 2023. Total Leverage Ratio (TLR) must not be greater than the corresponding level specified below in respect of the Compliance Date • TLR of 3.50x for March 31, 2023 • TLR of 3.00x for June 30, 2023 • TLR of 2.75x for September 30, 2023 • TLR of 2.5x each compliance date thereafter Total Interest Cover Ratio must not be less than 2.00x on March 31, 2023 and 3.00x each compliance date thereafter. Level 3 of the fair value of the Senior Loan Subscription Agreement, determined using inputs categorized under level 3 of the fair value hierarchy, is determined to approximate its carrying value at June 30, 2022. Shareholder Loan Agreement (“St Baker Energy Holdings Pty Ltd Loan”) The Group entered into a Shareholder Loan Agreement (“borrowing”) on May 5, 2020. Financing of $5.6 million was obtained from this borrowing agreement. The outstanding balance at June 30, 2021 was $6.4 million (June 30, 2020: $5.2 million). The borrowing attracts interest at the coupon rate of 11%. This accrued interest on the borrowing is capitalized into the balance of the loan and is repayable in full with the principal at termination date. The borrowings are secured through the inventory value of the Group. Total security provided at June 30, 2021 is $40.6 million (June 30, 2020: $30.4 million). The borrowing was repayable via cash settlement on the termination date of December 31, 2024. Tritium Holdings Pty Ltd repaid the outstanding loan payable of $6.5 million to St Baker Energy on May 11, 2022. NAB Facility The Group has a NAB facility which is used for credit cards and other liabilities in the Group. The NAB facility is 100% supported by term deposits and is a non-interest |
Fair value measurements
Fair value measurements | 12 Months Ended |
Jun. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair value measurements | Note 15 – Fair value measurements The Company’s assets and liabilities that were measured at fair value on a recurring basis were as follows: Fair Value Measured as of June 30, 2022 Level 1 Level 2 Level 3 Total $’000 $’000 $’000 $’000 Common stock Public warrant liabilities 12,019 — — 12,019 Common stock Private warrant liabilities — 321 — 321 Total 12,019 321 — 12,340 The following table presents a summary of the changes in the fair value of the Group’s warrant liability: Public warrants Private warrants Total Number of Amounts Number of Amounts Number of Amounts Balance as of June 30, 2021 — — — — — — Warrants liability assumed in Business Combination 13,416,592 19,857 8,366,667 12,383 21,783,259 32,240 Reclassification of warrants to stockholders’ deficit due to exercise (4,379,462 ) (11,364 ) (8,125,520 ) (12,027 ) (12,504,982 ) (23,391 ) Change in fair value — 3,526 — (35 ) — 3,491 Balance as of June 30, 2022 9,037,130 12,019 241,147 321 9,278,277 12,340 |
Employee Benefits
Employee Benefits | 12 Months Ended |
Jun. 30, 2022 | |
Employee Benefits [Abstract] | |
Employee Benefits | Note 16 – Employee Benefits June 30, 2022 June 30, 2021 Current liabilities Annual leave 2,345 1,859 Long service leave 308 178 Total current employee benefits 2,653 2,037 Non-current Long service leave 217 125 Total employee benefits 2,870 2,162 |
Other Liabilities
Other Liabilities | 12 Months Ended |
Jun. 30, 2022 | |
Other Liabilities Disclosure [Abstract] | |
Other Liabilities | Note 17 - Other Liabilities June 30, 2022 June 30, 2021 Current liabilities Insurance and other liabilities 1,769 90 Cash settled employee liabilities 152 5,345 Deferred fulfillment liabilities 432 432 Commissions 586 234 Total current other liabilities 2,939 6,101 Deferred fulfillment liabilities are inventories that are to be provided based on a specific terms and arrangements as agreed with an external party. |
Other Provisions
Other Provisions | 12 Months Ended |
Jun. 30, 2022 | |
Other Provisions [Abstract] | |
Other Provisions | Note 18 – Other Provisions June 30, 2022 June 30, 2021 Current liabilities Warranties 1,326 1,384 Legal Provisions 126 326 Bonus Provision 1,028 627 Transaction and offering related fees 25,143 3,012 Total other provisions - current 27,623 5,349 Non-current liabilities Warranties 2,652 2,541 Total other provisions 30,275 7,890 The balance for transaction and offering related fees as at June 30, 2022 is expected to be settled in cash. Provision for warranties June 30, 2022 June 30, 2021 Opening balance of warranties – July 1 3,925 3,570 Warranty utilized during the year (3,295 ) (2,308 ) Provision created during the year 3,656 2,329 Foreign currency translation adjustment (308 ) 334 Closing balance of provision for warranties – June 30 3,978 3,925 |
Right of Use Assets and Lease L
Right of Use Assets and Lease Liabilities | 12 Months Ended |
Jun. 30, 2022 | |
Right Of Use Assets And Lease Liabilities [Abstract] | |
Right of Use Assets and Lease Liabilities | Note 19 – Right of Use Assets and Lease Liabilities June 30, 2022 June 30, 2021 Total right of use assets 24,640 18,312 Lease liabilities Current lease liabilities 4,020 2,941 Non-current 25,556 17,660 Total lease liabilities 29,576 20,601 The Group has lease contracts for various property, buildings, motor vehicles and other equipment used within its operations. The Group’s obligations under its leases are secured by the lessor’s title to the leased assets. Generally, the options. The Group had total cash outflows for leases of $ million in 2022 ($ million in 2021 and $ million in 2020 respectively). The Group recognized expenses relating to short term leases of $ million in 2022 ($ million in 2021 and 2020 respectively). The weighted average incremental borrowing rate at June 30, 2022 was 2.72% (June 30, 2021: 1.45%; June 30, 2020: 3.12%). As most of the Group’s leases do not provide an implicit rate of return, the use of the incremental borrowing rate has been adhered to, based on the information available at lease commencement date in determining the present value of lease payments. For the current period ending June 30, 2022, the maturity of the lease payments is as follows: Operating leases Amount June 30, 2023 3,942 June 30, 2024 3,853 June 30, 2025 4,155 June 30, 2026 4,379 June 30, 2027 4,433 Thereafter 12,049 Total minimum lease payments 32,811 Less amount representing interest (3,235 ) Present value of lease liabilities 29,576 Less: current portion (4,020 ) Long term portion of lease liabilities 25,556 The weighted average lease term is 7.2 years for the June 30, 2022 period (7.4 years for 2021 and 2020 respectively). The Group has several lease contracts that include extension and termination options. These options are negotiated by management to provide flexibility in managing the leased-asset portfolio and align with the Group’s business needs. Management exercises significant judgement in determining whether these extension and termination options are reasonably certain to be exercised. |
Contract Liabilities
Contract Liabilities | 12 Months Ended |
Jun. 30, 2022 | |
Contract with Customer, Liability [Abstract] | |
Contract Liabilities | Note 20 – Contract Liabilities June 30, 2022 June 30, 2021 Current liabilities Customer advance deposits 33,508 6,561 Unearned revenue 4,219 2,637 Total current contract liabilities 37,727 9,198 Non-current liabilities Customer advance deposits 847 — Unearned revenue 1,384 1,618 Total non-current 2,231 1,618 Total contract liabilities 39,958 10,816 It is expected that the performance obligations recognized as current contract liabilities which are yet to be satisfied as of June 30, 2022 will be recognized in revenue in the next 12 months. Unearned revenue represents the sale of extended warranties which is recognized as revenue over the term of the extended warranty. Customer advance deposits represent advance payments for products, which are made at the time the order is placed and is recorded as revenue once the performance obligation is satisfied. |
Segment Reporting
Segment Reporting | 12 Months Ended |
Jun. 30, 2022 | |
Segment Reporting [Abstract] | |
Segment Reporting | Note 21 – Segment Reporting The following table presents revenue by the Group’s reportable segments: Hardware Revenue Stand Alone Distributed Other Total Service and Total Year Ended June 30, 2020 Revenue 13,817 27,431 230 41,478 5,491 46,969 Cost of goods sold (13,682 ) (31,867 ) (256 ) (45,805 ) (2,138 ) (47,943 ) Segment gross profit/(loss) 135 (4,436 ) (26 ) (4,327 ) 3,353 (974 ) Year Ended June 30, 2021 Revenue 20,084 32,974 504 53,562 2,595 56,157 Cost of goods sold (21,099 ) (33,718 ) (371 ) (55,188 ) (2,873 ) (58,061 ) Segment gross profit/(loss) (1,015 ) (744 ) 133 (1,626 ) (278 ) (1,904 ) Year Ended June 30, 2022 Revenue 52,072 26,603 2,157 80,832 4,989 85,821 Cost of goods sold (51,907 ) (28,597 ) (1,879 ) (82,383 ) (3,778 ) (86,161 ) Segment gross profit/(loss) 165 (1,994 ) 278 (1,551 ) 1,211 (340 ) The Group manages its business across seven operating segments for the purposes of assessing performance and making operating decisions. These operating segments are based on stand alone products, distributed chargers and other products. The Group’s Chief Operating Decision Maker (CODM) uses revenue and gross margin/loss to evaluate segment performance and allocate resources. The CODM does not evaluate operating segments using asset or liability information nor are there any other performance metrics or measures used to monitor the operations. These operating segments are aggregated into three reportable segments, being stand alone products, distributed chargers and other products. Stand alone charging systems are single units. Distributed charging systems can have multiple user units all connected in the one system. The operating segments meet the qualitative criteria for aggregation in this manner as the operating segments that are aggregated into the stand alone segment have similar economic characteristics, are similar in nature and they have similar manufacture, distribution chains and customers. This is also the case for those operating segments that are aggregated into the ‘distributed chargers’ segment. Other products are managed as a single operating and reportable segment and are monitored by the CODM in this way. The Group believes the current method of segment reporting reflects both the way its business segments are currently managed and the way the performance of each segment is evaluated by the CODM. The Group does not monitor services and maintenance revenue as it is not considered a key part of the current business operations. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies and there are no inter-segment In terms of concentration of customer risks, revenues from one customer in the distributed chargers segment represents approximately $13.0 million of the total amount (2021: $17.0 million; 2020: $17.1 million), representing 15% of the total revenue. The following table reconciles segment gross (loss) to loss from operations and a calculation of segment gross margin: Group Year Ended Year Ended Year Ended Revenue 85,821 56,157 46,969 Cost of goods sold (86,161 ) (58,061 ) (47,943 ) Segment gross (loss) (340 ) (1,904 ) (974 ) Selling, general and administration expense (74,323 ) (31,624 ) (23,615 ) Product development expense (14,031 ) (10,521 ) (9,548 ) Foreign exchange gain/(loss) (4,208 ) (1,436 ) (231 ) Total operating costs and expenses (92,562 ) (43,581 ) (33,394 ) Segment gross (loss) (340 ) (1,904 ) (974 ) Revenue 85,821 56,157 46,969 Segment gross margin (0.4 %) (3.4 %) (2.1 %) Segment gross profit is calculated as Revenue less Cost of goods sold. The following table presents the Group’s revenue by geographic area based on the entity that has entered the external contract to supply the product and services. The entity’s geographical area is based on the place of incorporation. Group Year Ended Year Ended Year Ended Australia 12,735 5,044 10,420 United States 33,174 12,730 5,802 The Netherlands 39,912 38,383 30,747 Total revenue 85,821 56,157 46,969 The following table presents long-lived assets by geographic area on the same basis as detailed above: Group Year Ended Year Ended Australia 18,709 16,138 United States 16,290 2,754 The Netherlands 792 5,109 Total long-lived assets 35,791 24,001 The Group’s manufacturing and inventory is predominately located in and supplied from Australia. |
Loss Per Share
Loss Per Share | 12 Months Ended |
Jun. 30, 2022 | |
Earnings Per Share [Abstract] | |
Loss Per Share | Note 22 – Loss Per Share The following table presents net loss per share and related information: Group Basic and diluted loss per share June 30, 2022 June 30, 2021 June 30, 2020 Net (loss) attributable to common shareholders $ (127,562,000 ) $ (63,091,853 ) $ (34,444,303 ) Weighted average number of shares Basic and diluted - common shares 126,814,171 99,915,563 97,565,239 Basic and diluted net loss per share $ (1.01 ) $ (0.58 ) $ (0.33 ) Basic and diluted - C shares 8,047,417 8,047,417 Basic and diluted net loss per share $ (0.58 ) $ (0.33 ) Loss per share calculations for all periods prior to the Business Combination have been retrospectively adjusted for the equivalent number of shares outstanding immediately after the Business Combination to effect the reverse recapitalization, less shares related to the mandatorily convertible notes and the Loan Funded Share Plan. The share conversion factor applied to shares immediately prior to the Business Combination is (refer to Note for additional details). Because the Company reported net losses for all periods presented, all potentially dilutive Common Stock equivalents were determined to be antidilutive for those periods and have been excluded from the calculation of net loss per share. The Loss per share as previously reported was calculated on the following basis: Group Basic and diluted loss per share June 30, 2021 June 30, 2020 Net (loss) attributable to common shareholders $ (58,389,069 ) $ (31,819,734 ) Weighted average number of shares – Basic and diluted 67,892,971 66,295,918 Basic and diluted net loss per share – common shareholders $ (0.86 ) $ (0.48 ) Net loss attributable to class C shareholders $ (4,702,784 ) $ (2,624,569 ) Weighted average number of class C shares 5,468,249 5,468,249 Basic and diluted net loss per share – class C shareholders $ (0.86 ) $ (0.48 ) |
Share Options Outstanding
Share Options Outstanding | 12 Months Ended |
Jun. 30, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Share Options Outstanding | Note 23 – Share Options Outstanding Loan Funded Share Plan (“LFSP”) In prior years, pursuant to the LFSP, the Group issued common share to employees to purchase such common shares with an interest free, limited recourse loan payable to the Group. These limited recourse loans were not collateralized and were not recourse to the assets of the borrower, except to the extent of the shares issued. Because the loans were the sole consideration for the shares issued, the Group accounts for these arrangements as share options since the substance is similar to the grant of an option, with a deemed exercise price equal to the loan amount. The fair value of the notional share options is expensed in the period in which the notional share options are issued, with a corresponding credit to additional paid-in capital. The limited recourse loans are repayable in The shares issued under the loan funded share plan are considered treasury shares. The balance of the limited recourse loans outstanding relating to these treasury shares as of June 30, 2021, and 2020 were $ million and $ million. The Group does not recognize a separate receivable for limited recourse loans as the LFSP is accounted for as share-based compensation. As at June , , the total compensation value associated with the LFSP was $ million (based on the fair value inputs disclosed) of which $ million has not been recognized (as it relates to nonvested awards). tax benefits have been recorded or expected due to significant tax losses and valuation allowance recognized due to uncertainty of recovery. compensation expenses have been recorded as part of an asset. As a result of the BCA the shares under the following occurred: • A number of awards for executives were modified to forgive outstanding loans. As a result of this modification, an expense of $6.4 million was recognised as the fair value of the change which were equal to the loan balances outstanding at the date of modification. FBT tax expense of $5.6 million was incurred as a result of the modification; • On completion of the merger, the treasury shares subject to the limited recourse loan, were converted applying the conversion factor of 1.4716625. No other changes to the terms or requirements to repay the loans were made. Average Weighted Average Weighted Average No. of shares Balance of shares subject to 5.82 1.44 2.60 2,055,828 Options granted — — — — Options exercised — — — — Options cancelled — — — — Balance at June 30, 2020 4.82 1.44 2.60 2,055,828 Options granted 7 1.31 4.44 3,305,998 Options exercised — — — — Options cancelled — — — — Balance at June 30, 2021 5 . 1.36 3.74 5,361,826 Options granted — — — — Options exercised — — — — Options modified 4.42 1.55 3.69 (2,507,658 ) Options cancelled — — — — Balance pre conversion 4.18 1.19 3.78 2,854,168 Converted to Tritium DCFC — — — 4,200,371 Average Weighted Average Weighted Average No. Year ended June 30, 2022 Balance of shares following 4.18 0.82 2.60 4,200,371 Options granted — — — — Options exercised — — — — Options cancelled — — — — Balance at June 30, 2022 (vested 4.18 0.82 2.60 4,200,371 Shadow Equity Plan (“SEP”) In July 2018, the Group adopted a SEP share-based compensation arrangement. The SEP is akin to a share appreciation right where an eligible employee is given the right to receive an amount of cash, the value of which equals the appreciation in the Group’s share value between the award’s grant date and its vesting date. The share appreciation right vests upon the occurrence of an entitlement event or 7 years whichever is earlier. The Group had issued 27,451 rights under the SEP up to June 2020. During the year ended June 30, 2021, further issues of 1,584,077 rights were made by the Group. An assessment of the fair value of the rights was made at each period utilising an option pricing methodology. The share price is a key assumption in the option pricing model. At June 30, 2021 the share price has been based on the price per share pursuant to the current purchase consideration agreement with DCRN. To determine the FV of the rights outstanding as at the year end, this share price has been discounted to reflect the estimated market value at this point in time. The expected timing of the entitlement event has been estimated to be 7 months from June 30, 2021. The weighted fair value for the appreciation rights outstanding as at June 30, 2021 was assessed to be AUD $8.7 (PY: AUD $2.5). As at June 30, 2021, the total compensation value associated with the SEP is $10.6 million (based on the fair value inputs disclosed) of which $5.2 million has not been recognized (as it relates to nonvested awards). No tax benefits have been recorded or expected due to significant tax losses and valuation allowance recognized due to uncertainty of recovery. No compensation expenses have been recorded as part of an asset. As a result of the BCA, the SEP plan vested and the following occurred: • $5.4 million was paid to entitlement holders in cash; and • 1,175,601 Tritium DCFC Shares were issued as settlement of the outstanding balance to SEP holders. The carrying amount of the liability relating to the SEPs at June 30, 2022 as a result is $ The total benefit as a result was $ million. The total expense arising from share-based compensation during the year is $ million (2021: $ million;2020: ). Weighted 2022 Weighted 2021 Weighted 2020 Balance of shares subject to options at beginning of year 8.74 1,611,528 2.46 27,451 2.46 27,451 Rights granted — 100,000 8.76 1,584,077 — — Rights exercised — (1,449,677 ) — — — — Rights cancelled — — — — — — Balance at reporting date — 261,851 8.74 1,611,528 2.46 27,451 Converted to DCFC Shares — 326,211 USD10.00 — — — Tritium DCFC Share Options Plans LTIP On June 23, 2022, eligible employees were offered 1.4 million performance rights under the LTIP. Each performance right will entitle the employees to acquire one fully paid ordinary share in Tritium DCFC, subject to satisfaction of vesting conditions. These vesting conditions require that eligible employees must have been in employment with any of the Tritium group companies at the date on which Tritium DCFC was listed on the NASDAQ and continue to remain in employment and must not have resigned or have their employment terminated up to October 14, 2022. If the vesting conditions are satisfied, the performance rights will vest on October 14, 2022 , and may be exercised by the holder from this date but must be exercised by June 23, 2025 , failing which these performance rights will be deemed to have been exercised on that date. The performance rights have a Nil exercise price. Tritium have determined that these performance rights will be in the nature of “equity classified arrangements” as per the requirements of ASC 718 Compensation - Stock Compensation (“ASC 718 ”). Average Average Average No. of shares Balance of shares subject to options at July 1, 2021 Options granted 0.25 $ 6.17 — 1,328,758 Options exercised — — — — Options cancelled — — — — Balance at June 30, 0.25 $ 6.19 — 1,328,758 Performance rights under the LTIP were communicated to a group of employees, executive management and the non-executive directors during the fiscal year ended June 30, 2022. The vesting period has commenced and the service commencement date has been determined as the date the performance rights were communicated to the individuals. The grant date has been estimated at June 30, 2022 where formal acceptance (as required under the LTIP Rules) has not yet been received from the individuals. The estimated weighted average fair value of the rights at grant date is . |
Fair Valuation of Share-Based C
Fair Valuation of Share-Based Compensation | 12 Months Ended |
Jun. 30, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions and Methodology [Abstract] | |
Fair Valuation of Share-Based Compensation | Note 24 – Fair Valuation of Share-Based Compensation LFSP The Group uses the fair value method in recognizing share-based Black-Scholes The weighted average fair value for share options that were outstanding (including issuances in the year) as at June 30, 2022, 2021 and 2020 are as follows: Group June 30, 2022 June 30, 2021 June 30, 2020 Risk free interest rate 1.56 % 1.59 % 2.18 % Expected term 0.5 years 1.5 years 2.5 years Expected volatility 60 % 60 % 40 % Dividend yield 0.00 % 0.00 % 0.00 % Grant value fair value per share $ 1.19 AUD $ 1.36 AUD $ 1.44 AUD Share price $ 3.78 AUD $ 3.74 AUD $ 2.60 AUD Aggregate intrinsic value of shares vested and not yet exercised (USD) $ 524,983 $ 2,835,795 $ 2,605,641 The fair value of the underlying ordinary shares considered the price per share paid by investors in the Company’s private financings in addition to independent external valuations obtained. The Group historically has been a private company and lacked company-specific historical and implied volatility information. Therefore, it estimated its expected share volatility based on the historical volatility of its publicly traded peer companies and expects to continue to do so until such time as it has adequate historical data regarding the volatility of its own traded share price. The expected term of the share options has been determined based on an assessment of the estimated timing that employees would either exercise or an entitlement event would occur. The risk-free interest rate is determined by reference to the appropriate reserve bank yield in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield is based on the fact that the Group has never paid cash dividends and does not expect to pay any cash dividends in the foreseeable future. SEP The weighted average fair value for the share appreciation rights under the SEP that were outstanding (including issuances in the year) as at June 30, 2021 and 2020 and at the BCA date (where the entitled was measured) was determined using the following key inputs: Group Entitlement date (14 January 2022) June 30, 2021 June 30, 2020 Risk free interest rate 0.05 % 0.04 % 0.04 % Expected term 0.0 years 0.6 years 1.6 years Expected volatility 60 % 60 % 60 % Dividend yield 0.00 % 0.00 % 0.00 % Indicative share price $ 20.94 AUD $ 12.13 AUD $ 4.44 AUD Offer value $ 3.40 AUD $ 3.40 AUD $ 4.44 AUD LTIP The Group uses the fair value method in recognizing share-based Black-Scholes The weighted average fair value for share options that were outstanding (including issuances in the year) as at June 30, 2022 are as follows: June 30, 2022 Risk free interest rate 2.68 % Expected term 3 Expected volatility 80 % Dividend yield 0 Grant value fair value per share $ 6.17 Share price $ 6.17 Aggregate intrinsic value of shares vested and not yet exercised (USD) 0 The fair value of the underlying ordinary shares considered the weighted average price per share on the day of grant. The Group historically has been a private company and lacked company-specific historical and implied volatility information. Therefore, it estimated its expected share volatility based on the historical volatility of its publicly traded peer companies and expects to continue to do so until such time as it has adequate historical data regarding the volatility of its own traded share price. |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 12 Months Ended |
Jun. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingent Liabilities | Note 25 – Commitments and Contingent Liabilities Legal Proceedings Any material legal proceedings have been provided for as at June 30, 2022, 2021 and June 30, 2020. Legal proceedings were related to product matters and have since been settled within the amounts provided for. Any differences are immaterial. Contingent liabilities The Group did not have any contingent liabilities as of June 30, 2022. Contractual Commitments The Group did not have any commitments as of June 30, 2022, 2021 or June 30, 2020. |
Related Party Disclosures
Related Party Disclosures | 12 Months Ended |
Jun. 30, 2022 | |
Related Party Transactions [Abstract] | |
Related Party Disclosures | Note 26 – Related Party Disclosures Unless otherwise disclosed, transactions with other related parties are made on normal commercial terms and at market rates. All related parties are companies that are associated shareholders. Hardware Service and Accounts Purchases Accounts Loan Year ended June 30, 2020 Gilbarco 6,402 2 3,510 1 — — Fast Cities Australia — 981 378 — — — St Baker Energy — — — 194 20 5,240 Total 6,402 983 3,888 195 20 5,240 Year ended June 30, 2021 Gilbarco 19,122 — 2,471 335 142 — Fast Cities Australia 2,141 1 520 — — — St Baker Energy — — — 256 23 6,392 Total 21,263 1 2,991 591 165 6,392 Year ended June 30, 2022 Gilbarco 8,135 — — 338 — — Fast Cities Australia 3,454 — 16 — — — St Baker Energy — — — 345 93 — Total 11,589 — 16 683 93 — Transactions with Gilbarco Gilbarco ceased to be the Group’s related party since November 29, 2021 which is the date Gilbarco resigned from Board of Directors of Tritium. As such, all transactions between the Group and Gilbarco that occurred prior to November 29, 2021 are disclosed above as related party transactions. Transactions with Fast Cities The Group has sold products to Fast Cities during the period at normal trading terms. The receivables due at the end of the period are payable within 30 days. Loans payable to St Baker Energy The terms of this arrangement have been disclosed in Note 14. |
Tritium DCFC Limited and Contro
Tritium DCFC Limited and Controlled Entities | 12 Months Ended |
Jun. 30, 2022 | |
Tritium DCFC Limited And Controlled Entities [Abstract] | |
Tritium DCFC Limited and Controlled Entities | Note 27 – Tritium DCFC Limited and Controlled Entities Controlled entities Name of entity Ownership interest Ownership interest Ownership interest Place of Tritium Holdings Pty Ltd 100 % 100 % 100 % Australia Decarbonization Plus 100 % — — United States of America Tritium America 100 % 100 % 100 % United States of America Tritium Technologies LLC 100 % 100 % 100 % United States of America Tritium Europe B.V 100 % 100 % 100 % The Netherlands Tritium Technologies B.V 100 % 100 % 100 % The Netherlands Tritium Pty Ltd 100 % 100 % 100 % Australia Tritium Nominee Pty Ltd 100 % 100 % 100 % Australia Tritium Technologies 100 % 100 % — The United Kingdom Tritium America Corporation is the parent company to Tritium Technologies LLC, a foreign trading entity. Similarly, Tritium Europe BV is the parent company of the trading entity Tritium Technologies BV. |
Reverse Capitalization and Busi
Reverse Capitalization and Business Combination | 12 Months Ended |
Jun. 30, 2022 | |
Reverse Capitalization And Business Combination [Abstract] | |
Reverse Capitalization and Business Combination | Note 28 – Reverse Capitalization and Business Combination On January 13, 2022, Tritium DCFC merged with both DCRN and Tritium Holdings, with Tritium Holdings surviving as a wholly-owned subsidiary of Tritium DCFC. At the Merger, eligible Tritium Holdings equity holders received or had the right to receive shares of Common Stock at a deemed value of $10.00 per share after giving effect to the exchange ratio of 1.471662 as defined in the Merger Agreement (“Exchange Ratio”). Accordingly, immediately following the consummation of the Merger, Legacy Tritium common stock exchanged into 120,000,000 shares of Common Stock of Tritium DCFC. Additionally, upon the consummation of the Merger, the Company gave effect to the issuance of 15,380,694 shares of Common Stock for the previously issued DCRN common stock that were outstanding at the Closing Date. In connection with the execution of the Merger Agreement, DCRN entered into separate subscription agreements (each a “Subscription Agreement”) with a number of investors (each a “New PIPE Investor”), pursuant to which the New PIPE Investors agreed to purchase, and DCRN agreed to sell to the New PIPE Investors, an aggregate of shares of Common Stock (“PIPE Shares”), for a purchase price of $ per share and an aggregate purchase price of $ million, in a private placement pursuant to the subscription agreements (“PIPE Financing”). The PIPE Financing closed simultaneously with the consummation of the Merger. Number of Shares Amounts (US$’000) Common Stock of DCRN, outstanding prior to the Merger 50,312,500 — Less redemption of DCRN shares (34,931,806 ) — DCFC shares issued to legacy of DCRN stockholders, in exchange of DCRN’s shares 15,380,694 53,183 Shares issued in PIPE 2,500,000 15,000 Total shares issued to legacy DCRN stockholders and PIPE funding shares 17,880,694 68,183 DCFC shares issued to legacy Tritium stockholders, in exchange for Tritium’s shares 120,000,000 139,762 Total shares of common stock, immediately after Merger 137,880,694 207,945 The Merger is accounted for as a reverse recapitalization under U.S. GAAP. This determination is primarily based on Legacy Tritium stockholders comprising a relative majority of the voting power of Tritium DCFC and having the ability to nominate the members of the Board of Directors, Legacy Tritium’s operations prior to the acquisition comprising the only ongoing operations of Tritium DCFC, and Legacy Tritium’s senior management comprising a majority of the senior management of Tritium. Under this method of accounting, DCRN and Tritium DCFC are treated as the “acquired” companies for financial reporting purposes. Accordingly, for accounting purposes, the financial statements of Tritium DCFC represent a continuation of the financial statements of Legacy Tritium with the Merger being treated as the equivalent of Tritium Holdings issuing stock for the net assets of DCRN and Tritium DCFC, accompanied by a recapitalization. The net assets of DCRN are stated at historical costs, with no goodwill or other intangible assets recorded. Operations prior to the Merger are presented as those of Tritium Holdings. The table below presents the net deemed fair value attributable to the acquisition of DCRN and its impact on the consolidated statement of changes of shareholders deficit: Description Amounts (US$’000) DCRN net cash acquired 53,183 DCRN historical accumulated losses (51,598 ) DCRN transaction costs capitalised (14,335 ) Conversion of DCRN Class A and Class B shares into DCFC Common Stock, (12,750 ) Subsequent to the Merger, Tritium DCFC’s common stock is represented by Tritium DCFC’s common stock issued in exchange for the legacy Tritium shares, deemed fair value of consideration issued to the former DCRN shareholders, and Tritium DCFC’s common stock in relation to the PIPE financing, shadow equity plan (Note 23) and exercise of warrants (Note 15). The legacy Tritium Holdings balances in respect of Additional paid-in Legacy Tritium Holdings at June 30, 2021 Restated Tritium DCFC at June 30, 2021 Legacy Tritium Holdings at June 30, 2020 Restated Tritium DCFC at June 30, 2020 Legacy Tritium Holdings at June 30, 2019 Restated Tritium DCFC at June 30, 2019 Common shares 73,254,797 107,806,361 69,948,799 102,941,047 62,071,451 91,348,247 Treasury shares (5,361,826 ) (7,890,800 ) (2,055,828 ) (3,025,486 ) (2,055,828 ) (3,025,486 ) Class C shares 5,468,249 8,052,499 5,468,249 8,052,499 5,468,249 8,052,499 The associated impact on Loss per Share has been disclosed in Note 22. In connection with the Merger, the Company raised $68.2 The Company incurred transaction costs, consisting of banking, legal, and other professional fees, of which $16.7 million was recorded as a reduction to additional paid-in capital of proceeds and the remaining was expensed in the consolidated statements of operations. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Jun. 30, 2022 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 29 – Subsequent Events Pursuant to the First Amendment Deed dated July 13, 2022, the Liquidity Reserve requirement for the existing $90 million senior debt facility from Cigna & Barings has been reduced from $65.0 million to $25 million. On September 2, 2022, the existing $90 million senior debt facility from Cigna & Barings has been extended by $60 million to a $150 million facility. A committed equity facility for up to $75 million has also been established with B. Riley Principal Capital II, LLC. The net injection of incremental capital of up to $135 million will be used to fund working capital to accelerate production, further product development, and support operations around the world. The $150 million senior debt facility will refinance the existing $90 million facility and provide a net injection of $60 million cash. The facility has 3-year |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Use of estimates | a) Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates and assumptions include but are not limited to: determining the lease term of contracts with renewal and termination options, discount rates, share-based compensation, estimation of the fair value of derivatives and warrants, estimation of useful lives of assets, impairment of assets, taxes, employee benefits provisions and warranty provision. Management bases its estimates on historical experience and on various other assumptions believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates due to risks and uncertainties and may be material. |
Revenue recognition | b) Revenue recognition Revenue from contracts with customers Revenue is recognized when or as the control of the goods or services are transferred to the customer. Depending on the terms of the contract, control of the goods or services may be transferred over time or at a point in time. If control of the goods or services transfers over time, revenue is recognized over the period of the contract by reference to the progress towards satisfying the performance obligation, otherwise, revenue is recognized at a point in time when the customer obtains control of the goods and services. Contracts with customers may include more than one performance obligation. For such arrangements, the Group allocates the contract price to each distinct performance obligation based on relative standalone selling price. All revenue is stated net of the amount of taxes. The specific recognition criteria described below must also be met before revenue is recognized. Sale of hardware revenue The Group generates revenue from the sale of electric vehicle chargers. The contracts with customers include distinct performance obligations relating to the sale of goods and other related services. The overall contract price is allocated to the distinct performance obligations based on the relative standalone selling price. Revenue from the sale of electric vehicle chargers is recognized at a point in time when the Group transfers control of the assets to the customer. The Group also provides for standard warranty rights for general repairs for either two or three years on all electric vehicle chargers sold. This standard warranty is not considered to be a separate performance obligation. The estimated warranty costs are recognized as a liability when the Group transfers control of the goods to a customer. Rendering of services revenue The Group generates revenue from services in relation to installation, repair, maintenance, and training. Generally, revenue in relation to rendering of services is recognized when the service has been provided, either over time or at a point in time. The Group recognizes the material portion of their revenue from services at a point of time when the service is delivered (i.e., For installation and repairs). However, if the service is performed over a period of time and if the outcome can be estimated reliably, then the stage of completion of the services based on an input method (i.e., costs incurred) is used to determine the appropriate level of revenue to be recognized in the period. The Group provides an extended warranty to its customers for an additional fee. Extended warranty revenue is recognized as a contract liability on receipt and recognized over the period in which the service is provided based on the time elapsed (this commences after the standard warranty expires). Bill-and-hold In certain circumstances, the Group’s customers may request the Group to store products on the customer’s behalf until the customer is ready to collect or have the goods delivered to their specified location. This may arise if customers are not ready to take delivery as a result, generally, of delays in their site construction and rollout or obtaining necessary customs clearances. In these situations, the transfer of control of these products to the customer occurs when the finished products are ready for delivery to the customer. In assessing the transfer of control in these “bill-and-hold” • billed the customers in full; • made the products available for the customer, end of line testing of the product is completed and notification made of the completion of manufacture; • identified the product physically and systematically as belonging to a specific customer and segregated in our warehouse; and • does not have the ability to direct the product to a different customer. In assessing bill-and-hold Costs to obtain a contract Costs to obtain a contract mainly relate to commissions paid to the Group’s sales personnel. As contract costs related to sales are typically fulfilled within one year, the costs to obtain a contract are expensed as incurred. Amounts billed to customers related to shipping and handling are classified as revenue. The cost for freight and shipping are recognized as an expense in cost of goods sold when control over the chargers, parts or accessories have transferred to the customer. Contract liabilities A contract liability balance typically arises due to allocation of a part of the consideration received to unsatisfied performance obligations, including extended warranty obligations under revenue contracts. Contract liabilities also arise due to receipt of advances from the customer, prior to satisfaction of performance obligations. The Group’s balance sheet includes customer advances and unearned revenue as contract liabilities. Grant income The Group received government incentives during the reporting periods in the form of the Job Keeper program which was a program aimed to support companies as a result of the COVID 19 pandemic. Grant income is recognized in the Consolidated Statement of Operations and Comprehensive Loss when the Group is entitled to the grant, it can be measured reliably, and it is probable that the economic benefits gained from the grant will be received. It is recognized as a liability until these conditions have been met. Government grants received by the Group are typically for the reimbursement of expenses incurred. |
Cost of sales | c) Cost of sales Hardware Cost of hardware revenue includes raw materials, associated freight, Service and maintenance Cost of service and maintenance revenue includes spare part materials and labour costs, including the cost of subcontractors. |
Product development | d) Product development All costs associated with new product development are expensed as incurred, including software development costs. External use software development costs are expensed as incurred on the basis that the threshold of technical feasibility as defined in ASC 985, Software, has not been achieved. Product development costs primarily consist of employee compensation for those employees engaged in product development activities, including the development, design and testing of new products. |
Finance costs | e) Finance costs Finance costs are recognized as expenses in the period in which they are incurred. Interest on borrowings are recognised using the effective interest method. |
Income tax | f) Income tax Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided when it is more likely than not that some portion of the deferred tax asset will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Group recognizes the effect of income tax positions or benefit from uncertain tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Group records interest related to unrecognized tax benefits in interest expense and penalties in selling, general, and administrative expenses. The Group has not incurred any material interest and penalties in the June 30, 2022, 2021 or 2020 periods. The Group does not have any material uncertain tax positions during the period recognized. |
Loans and debt securities | g) Loans and debt securities Loans and debt securities issued are recognized on the date when they are originated at fair value. All other financial liabilities are initially recognized on the trade date. The Group derecognizes a financial liability when its contractual obligations are discharged or cancelled or expire. Where there is an unconditional right to defer settlement of the liability for at least months after the reporting date, the loans or borrowings are classified as non-current. Finance cost includes all interest-related expenses. |
Cash and cash equivalents | h) Cash and cash equivalents Cash and cash equivalents include cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments that are readily convertible to known amounts of cash with an original maturity date of less than 90 days and which are subject to an insignificant risk of changes in value. |
Derivative Instruments | i) Derivative Instruments The Group recognizes all derivative instruments as either assets or liabilities in the balance sheet at their respective fair values. The Group evaluates its debt and equity issuances to determine if those contracts or embedded components of those contracts qualify as derivatives requiring separate recognition in the Group’s financial statements. The result of this accounting treatment is that the fair value of the embedded derivative is revalued at each balance sheet date and recorded as a liability or an asset, and the change in fair value during the reporting period is recorded in other income (expense) in the Consolidated Statement of Operations and Comprehensive Loss. The current or non-current non-current net-cash |
Trade and other receivables | j) Trade and other receivables Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The Group records an allowance for estimated credit losses for estimated losses inherent in its accounts receivable portfolio. In establishing the required allowance, the Group considers historical losses adjusted to take into account current market conditions and the Group’s customers’ financial condition, the amount of receivables in dispute, and the current receivables aging and current payment patterns. The Group reviews its allowance for credit losses monthly. The Group does not have any off-balance-sheet Trade accounts are generally written off as bad debts when they are both in dispute and significantly aged where the recoverability is considered unlikely. Balances are not considered past due until they are 30 days after the original due date of the payment. |
Inventory | k) Inventory Inventories are measured at the lower of cost or net realizable value. The cost of inventory is determined using a weighted average approach basis and is net of any rebates and discounts received. The costs of inventory included in the Consolidated Statement of Operations and Comprehensive Loss includes directly attributable overhead costs to manufacture, raw materials purchases, associated freight and labour costs. The provision for impairment of inventories assessment requires a degree of estimation and judgement. The level of the provision is assessed by taking into account the recent sales experience, the aging of inventories and other factors that affect inventory obsolescence. The inventory obsolescence provision recognised as of June 30, 2022 is $0.5 million. There is no material provision for impairment recognized as of June 30, 2021. |
Property, plant and equipment | l) Property, plant and equipment Recognition and measurement The Group’s fixed assets are stated at cost. Fixed assets, excluding freehold land, are depreciated on a straight-line and declining balance basis over the assets useful life to the Group, commencing when the asset is ready for use. Depreciation Leasehold improvements are amortized over the shorter of either the unexpired period of the lease or their estimated useful life. The depreciation rates generally used for each class of depreciable asset are shown below: • Plant and equipment 12.5% - 33.34% • Furniture, Fixtures and Fittings 10.00% • Motor Vehicles 33.34% • Office Equipment 20.00% • Computer Equipment 33.34% An item of fixed asset and any material part initially recognized is derecognized upon disposal. Any gain or loss arising on de-recognition of the fixed asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the Consolidated Statement of Operations and Comprehensive Loss when the asset is derecognized. At the end of each annual reporting period, the depreciation method, useful life and residual value of each asset is reviewed. Any revisions are accounted for prospectively as a change in estimate. The costs of maintenance and repairs are expensed as incurred. Software as a service (“SaaS”) usage costs are also expensed as incurred. |
Impairment of long-lived assets | m) Impairment of long-lived assets Long-lived assets such as fixed assets subject to depreciation are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Group first compares the undiscounted cash flows expected to be generated by that asset or asset group to its carrying amount. If the carrying amount of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying amount exceeds its recoverable amount. Recoverable amount is determined through various valuation techniques including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. As of June 30, 2022 and 2021 the Group determined that there were no indicators of impairment and did not recognize any impairment of its long-lived assets. |
Leases | n) Leases The Group leases a number of office and warehouse facilities for its operations. These leases predominately relate to operating leases. The Group did not have any material f inance The Group as Lessee The Group assesses whether a contract is or contains a lease, at inception of a contract. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time and obtain all the output, in exchange for consideration. In such instances, the Group recognizes a right-of-use Measurement and presentation of lease liability For operating leases, the lease liability is initially and subsequently measured at the present value of the unpaid lease payments at the lease commencement date. The Group has elected the practical expedient to account for lease and non-lease Key estimates and judgments include how the Group determines the lease term of contracts with renewal and termination options. Where this exists, management has included renewal and termination options where there is a reasonable certainty that it will be exercised. Generally, the Group’s non-cancellable An additional key estimate and judgment is the determination of the discount rate. Topic 842 requires a lessee to discount its unpaid lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, its incremental borrowing rate. Generally, the Group cannot determine the interest rate implicit in the lease because it does not have access to the lessor’s estimated residual value or the amount of the lessor’s deferred initial direct costs. Therefore, the Group generally uses its incremental borrowing rate as the discount rate for the lease. The incremental borrowing rate is the rate of interest that the Group would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. The lease liability is separately disclosed on the Consolidated Statement of Financial Position. The liabilities which will be repaid within twelve months are recognized as current and the liabilities which will be repaid in excess of twelve months are recognized as non-current. The lease liability is subsequently measured by reducing the balance to reflect the principal lease repayments made and increasing the carrying amount by the interest on the lease liability. The Group is required to remeasure the lease liability and make an adjustment in the following instances: • The term of the lease has been modified or there has been a change in the Group’s assessment of a purchase option being exercised, in which case the lease liability is remeasured by discounting the revised lease payments using a revised discount rate; • A lease contract is modified, and the lease modification is not accounted for as a separate lease, in which case the lease liability is remeasured by discounting the revised lease payments using a revised discount rate; and • The lease payments are adjusted due to changes in the index or a change in expected payment under a guaranteed residual value, in which cases the lease liability is remeasured by discounting the revised lease payments using the initial discount rate. However, if a change in lease payments is due to a change in a floating interest rate, a revised discount rate is used. Measurement and presentation of right-of-use • The right-of-use right-of-use • Any remeasurement of the lease liability is also applied against the right-of-use value Extension options The lease term for the Group’s leases includes the non-cancelable |
Trade and other payables | o) Trade and other payables Trade and other payables are recognized as liabilities for goods and services provided to the Group prior to the end of the financial year and which are unpaid. Due to their short-term nature, they are measured at amortized cost and are not discounted. The amounts are unsecured and are usually paid within 30 days of recognition. |
Warranties | p) Warranties The Group provides a manufacturer’s standard warranty on all electric vehicle chargers sold. The Group recognizes a warranty provision for the products sold based on the present value of future cash flows estimated to be required to settle the warranty obligation. The future cash flows have been estimated by reference to the Group’s history of warranty claims. The Group considers the standard warranty does not provide an incremental service to customers but is rather an assurance on the quality of the electric vehicle charger, and therefore is not a separate performance obligation. The Group also provides extended warranty services separately to the standard warranty. The extended warranty is an incremental service provided to the customers and as such the extended warranty is a separate performance obligation distinct from other promises and should be accounted for in accordance with ASC 606. The Group also recognizes a provision for future extended warranty measured at the present value of management’s best estimate of the outflow required to settle the obligation at the end of the reporting period. The portion of the warranty provision expected to be incurred within the next 12 months is included within current provisions, while the remaining balance is included within non-current |
Employee benefits | q) Employee benefits Liabilities in respect of employee benefits which are not due to be settled within twelve months are discounted at period end using rates which most closely match the terms of maturity of the related liabilities. Employee benefits expected to be settled more than one year after the end of the reporting period have been measured at the present value of the estimated future cash outflows to be made for those benefits. In determining the liability, consideration is given to employee wage increases and the probability that the employee may satisfy vesting requirements. Wages, salaries, annual and long service leave The provision for employee entitlements to wages, salaries and annual and long service leave represents the amount which the Group has a present obligation to pay resulting from employees’ services provided up to the reporting date. Provisions have been calculated based on expected wage and salary rates and include related on-costs. Pension contribution Defined contribution pension plans exist to provide benefits for eligible employees or their dependants. Contributions by the Group are expensed to the Consolidated Statement of Operations and Comprehensive Loss as incurred. Annual bonus The Group recognizes a liability for bonuses based on a formula that takes into consideration the specific performance indicators outlined in employee contracts. The Group recognizes a liability where it is contractually obliged to pay an amount under the bonus plan or where there is a past practice that has created a constructive obligation. Termination Termination benefits are recognized as an expense when the Group is demonstrably committed, without realistic possibility of withdrawal, to a formal detailed plan to terminate employment before the normal retirement date. Termination benefits for voluntary redundancies are recognized if the Group has made an offer encouraging voluntary redundancy, it is probable that the offer will be accepted, and the number of acceptances can be estimated reliably. Share-based compensation (issued prior to BCA) Employees of the Group received remuneration in the form of share-based arrangements, whereby employees render services as consideration for equity instruments under the Group’s Loan Funded Share Plan (LFSP), or cash settlement under the Group’s Shadow Equity Plan (SEP). Awards issued under the LFSP are equity settled arrangements and are measured at the fair value of these awards at the grant date. A Black-Scholes model is utilized to estimate the fair value of the awards. The Group recognizes this share-based compensation expense at grant date as there are no service conditions attached to LFSP equity awards. For share-based compensation, the expense is measured at the grant date, based on the fair value of the award considering the market conditions, and then recorded over the requisite service period if the performance condition is probable. For periods prior to the Business Combination being completed, because there was no public market for common shares, the fair value of the common shares at the time of grant is considered the price per share paid by investors in the company’s private financings in addition to independent external valuations obtained. Additionally, in applying the Black-Scholes model, the Group has assessed the implied volatility utilised by estimating based on similar publicly traded peer companies (as it had no company-specific performance measures). Further details as to the inputs into the fair value of the respective grants is outlined in Note 23. Awards issued under the Group’s SEP were originally cash-settled arrangements. The Group recognizes cash settled transactions as a liability on the grant of the award. The Group initially measures the cash-settled transactions with employees at fair value to determine the fair value of the liability incurred. The Group recognizes share-based compensation over the period during which an employee is required to provide a service in exchange for the award. For cash-settled share-based compensation, the liability is remeasured at the end of each reporting period up to the date of settlement, with any changes in the expected settlement amounts recognized in comprehensive loss as a share-based compensation expense over the period during which an employee is required to provide service in exchange for the award. This requires a reassessment of the estimates used at the end of each reporting period. Subsequent to the Business Combination, Tritium’s board of directors made a determination that the benefit owed to participants under the SEP could be paid to participants in the form of cash or shares and settled the awards through the issuance of Ordinary Shares. Share-based compensation (Post BCA) Employees of the Group receive remuneration in the form of share-based arrangements, whereby employees render services as consideration for equity instruments under the Tritium DCFC Long Term Incentive Plan (“LTIP”). For share-based compensation, the expense is measured at the grant date, based on the fair value of the award considering the market conditions, and then recorded over the requisite service period if the performance condition is probable. Where the service period has commenced prior to the grant date, an estimate of the fair value of the award has been determined to record the requisite expense. The Group recognizes share-based compensation over the period during which an employee is required to provide a service in exchange for the award. |
Net loss per share | r) Net loss per share Subsequent to the BCA, the net loss per share information is determined using the legal share capital structure of Tritium DCFC. Net loss per share for the prior reporting periods has been restated using the exchange ratio established in the BCA. Refer to Notes 22 and 28 for additional details. Prior to the BCA, net loss per share information is determined using the two-class Prior to the Reverse recapitalization, the Group’s class C shares are participating securities as defined by Accounting Standards Codification (“ASC”) Topic 260-10, two-class Diluted loss per share is computed by dividing loss available to common shareholders by the weighted-average number of share of common shares outstanding during the period increased to include the number of additional common shares that would have been outstanding if the potentially dilutive securities had been issued, using the treasury-share method. As the Group incurred losses for all periods presented, potentially dilutive securities have been excluded from fully diluted loss per share as their impact is anti-dilutive and would reduce the loss per share. |
Fair value measurements | s) Fair value measurements The Group uses valuation approaches that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Group determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels: • Level 1 inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. • Level 2 inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. • Level 3 inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is material to the fair value measurement. |
Foreign currency translation | t) Foreign currency translation Transactions and balances Tritium DCFC Limited, the legal parent entity’s functional currency is United States Dollars (USD), and its subsidiaries have Australian Dollars (AUD), United States Dollars (USD), Euro (EUR) and British Pound (GBP) as their functional currency. Foreign currency transactions Foreign currency transactions are translated into the subsidiaries’ functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at financial year-end Foreign operations The assets and liabilities of the subsidiaries are translated into USD using the exchange rates at the reporting date. The revenues and expenses of such group entities are translated into USD using the average exchange rates, which approximate the rates at the dates of the transactions, for the period. All resulting foreign exchange differences are recognized in accumulated other comprehensive loss in shareholder’s deficit. The cumulative translation adjustment is recognized in the Consolidated Statement of Operations and Comprehensive Loss when the foreign operation or net investment is disposed of. For each entity, the Group determines the functional currency. Items included in the financial statements of each entity are measured using that functional currency. |
Current and non-current classification | u) Current and non-current The Group presents assets and liabilities in the balance sheet based on current/non-current An asset is current when it is: • Expected to be realized or intended to be sold or consumed in the normal operating cycle; or • Held primarily for the purpose of trading; or • Expected to be realized within twelve months after the reporting period; or • Cash or cash equivalents unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. All other assets are classified as non-current. A liability is current when: • It is expected to be settled in the normal operating cycle; or • It is held primarily for the purpose of trading; or • It is due to be settled within twelve months after the reporting period; or • Short-term loans are classified as long term if the entity intends to refinance the loan on a long-term basis and, prior to issuing the financial statements, the entity can demonstrate an ability to refinance the loan by meeting specific criteria. |
Concentrations of credit risk | v) Concentrations of credit risk Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in a financial loss to the Group. Credit risk arises from cash and cash equivalents, and deposits with banks and financial institutions, as well as credit exposure to wholesale and retail customers, including outstanding receivables and committed transactions. Customer terms range from 7 to 60 days. Trade receivables consist of customers, spread across a diverse geographical area. Ongoing credit evaluation is performed on the financial condition of accounts receivable. Management considers that all of the financial assets that are not impaired for each of the reporting dates under review are of good credit quality, including those that are past due. Refer to Note 8 for the associated expected credit loss calculations. The credit risk for liquid funds and other short-term financial assets is considered negligible since the counterparties are reputable banks with high quality external credit ratings. The Group has no material concentration of credit risk with respect to any single counterparty or group of counterparties. On a geographical basis, the Group’s credit risk exposure is spread across multiple regions, not just Australia. |
Risks and uncertainties | w) Risks and uncertainties The Group operates in an industry that is subject to intense competition, government regulation and rapid technological change. The Group’s operations are subject to material risk and uncertainties including financial, operational, technological, regulatory, and other risks, including the potential risk of business failure. The effects of the COVID-19 COVID-19 COVID-19 The impact of the COVID-19 COVID-19 Further, the COVID-19 COVID-19 COVID-19 geo-political |
Warrant Liabilities | x) Warrant Liabilities The Group assumed 13,416,592 publicly-traded warrants (“Public Warrants”) and 8,366,667 private placement warrants issued to Decarbonization Plus Acquisition Sponsor II LLC, the sponsor of DCRN (“Private Placement Warrants” and, together with the Public Warrants, the “Common Stock Warrants”) upon the Business Combination, all of which were issued in connection with DCRN’s initial public offering and subsequent overallotment and entitle the holder to purchase one share of the Company’s Common Stock, par value $0.0001 (“Common Stock”), at an exercise price of $10.00 per share. During the fiscal year ended June 30, 2022, 4,379,462 Public Warrants and 8,125,520 Private Placement Warrants were exercised. The remaining 9,037,130 Public Warrants and 241,147 Private Warrants remain outstanding. The Public Warrants, prior to their redemption, were publicly traded and were exercisable for cash unless certain conditions occurred, the Company has redemption rights under certain conditions, at which time the warrants could be cashlessly exercised, or the Company’s failure to have an effective registration statement related to the shares issuable upon exercise. The Private Placement Warrants are not redeemable for cash so long as they are held by the initial purchasers or their permitted transferees but may be redeemable for Common Stock if certain other conditions are met. If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Placement Warrants are redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants. The Company evaluated the Common Stock Warrants and concluded that they do not meet the criteria to be classified within stockholders’ equity. The agreement governing the Common Stock Warrants includes a provision (“Replacement of Securities Upon Reorganization”), the application of which could result in a different settlement value for the Common Stock Warrants depending on their holder. Because the holder of an instrument is not an input into the pricing of a fixed-for-fixed option on the Company’s ordinary shares, the Private Placement Warrants are not considered to be “indexed to the Company’s own stock.” In addition, the provision provides that in the event of a tender or exchange offer accepted by holders of more than % of the outstanding shares of the Company’s ordinary shares, all holders of the Common Stock Warrants (both the Public Warrants and the Private Placement Warrants) would be entitled to receive cash for all of their Common Stock Warrants. Specifically, in the event of a qualifying cash tender offer (which could be outside of the Company’s control), all Common Stock Warrant holders would be entitled to cash, while only certain of the holders of the Company’s ordinary shares may be entitled to cash. These provisions preclude the Company from classifying the Common Stock Warrants in stockholders’ equity. As the Common Stock Warrants meet the definition of financial liability, the Company has recorded these warrants as liabilities in the consolidated statement of financial position at fair value, with subsequent changes in their respective fair values recognized in the consolidated statements of operations and comprehensive loss at each reporting d at |
Contributed Equity | y) Contributed Equity As of June 30, 2022, there were 153,094,269 Common Shares issued (107,806,361 legacy Tritium Common Shares as of June 2021). As of June 30, 2021, there were 5,468,249 legacy Tritium class C shares outstanding which were fully converted into the Company’s Common Stock during the year ended June 30, 2022. The terms, rights, preferences, and privileges of the common shares are as follows: Voting Rights Each holder of Common Shares are entitled to one vote for each common share held on all matters submitted to a vote of the shareholders, including the election of directors. Dividends The holders of the Company’s outstanding Common Shares are entitled to receive dividends, if any, as may be declared by the Group’s board of directors out of legally available funds. Liquidation In the event of the Group’s liquidation, dissolution or winding up, holders of common shares will be entitled to shares rateably in the net assets legally available for distribution to shareholders after the payment of all the Group’s debts and other liabilities. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Schedule of depreciation rates on depreciable asset | The depreciation rates generally used for each class of depreciable asset are shown below: • Plant and equipment 12.5% - 33.34% • Furniture, Fixtures and Fittings 10.00% • Motor Vehicles 33.34% • Office Equipment 20.00% • Computer Equipment 33.34% |
Revenue and Other Income (Table
Revenue and Other Income (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of disaggregation of revenue and other income | Year Ended Year Ended Year Ended (a) Revenue from contracts with customers Sale of hardware – external parties 69,243 32,299 34,095 Sale of hardware – related parties 11,589 21,263 7,383 Sale of service and maintenance – external parties 4,989 2,594 5,489 Sale of service and maintenance – related parties — 1 2 Total revenue 85,821 56,157 46,969 (b) Other income Interest received 7 12 18 Government grants 18 1,757 1,412 Other income 36 171 3 Total other income 61 1,940 1,433 |
Selling, General and Administ_2
Selling, General and Administration Expenses (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Selling, General and Administrative Expense [Abstract] | |
Schedule of selling general and administration expense | Year Ended Year Ended Year Ended Equity settled share-based compensation expense (12,339 ) (3,122 ) — Cash settled share-based compensation expense 9 (15,849 ) (5,249 ) — Wages, salaries, and other employee benefits (22,582 ) (14,543 ) (14,354 ) Depreciation expense (1,582 ) (2,312 ) (1,309 ) IT and communications (6,247 ) (1,660 ) (1,428 ) Occupancy (4,198 ) (1,464 ) (2,729 ) Sales and marketing (449 ) (188 ) (304 ) Insurance (3,370 ) (627 ) (382 ) Professional fees (5,625 ) (1,470 ) (1,439 ) Expected credit losses on trade receivables (61 ) (148 ) 151 Bad debt expenses (73 ) (21 ) (4 ) Travel, meals, and accommodation expenses (1,400 ) (178 ) (1,221 ) Other administration expenses (490 ) (290 ) (230 ) Other operating expenses (58 ) (352 ) (366 ) Total selling, general and administration expenses (74,323 ) (31,624 ) (23,615 ) |
Finance Costs and Fair Value _2
Finance Costs and Fair Value Movement (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure Of Finance Costs And Fair Value Movement [Abstract] | |
Schedule of finance costs and fair value movement | Year Ended Year Ended Year Ended (a) Finance costs Interest on debt and borrowings (Note 14) (17,142 ) (8,588 ) (1,508 ) Other finance costs (994 ) (207 ) (1 ) Total finance costs (18,136 ) (8,795 ) (1,509 ) (b) Fair value movement Prepayment fee feature (6,291 ) (5,947 ) — Warrant liability (3,491 ) — — Total Fair value movement (9,782 ) (5,947 ) — As disclosed in Note 14, the prepayment fee feature in the borrowings agreement was determined to be an ‘embedded put option’ requiring recognition separate from the borrowing at fair value. |
Transaction and Offering Rela_2
Transaction and Offering Related Fees (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure Of Transaction And Offering Related Fees [Abstract] | |
Schedule of Transaction and Offering Related Fees | Year Ended Year Ended Year Ended Professional fees (150 ) (4,794 ) — FBT tax expense (5,683 ) — — Other transaction and offering related fees (950 ) — — Total transaction and offering related fees (6,783 ) (4,794 ) — |
Income Tax Expense (Tables)
Income Tax Expense (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Income Tax Disclosure [Abstract] | |
Summary of Effective Income Tax Rate Reconciliation | A reconciliation of the statutory income tax rate to the Group’s effective income tax rate is as follows: Year Ended Year Ended Year Ended Tax at the statutory tax rate of 30% (38,263 ) (18,928 ) (10,333 ) Tax effect amounts which are not deductible/(taxable) in calculating taxable income: Foreign tax rate differential 563 321 466 Non-deductible 6,778 3,389 504 Current year tax losses and temporary difference not recognized 30,902 15,207 9,363 Effective income tax (20 ) (11 ) — |
Schedule of Net Deferred Tax Assets | Net deferred tax assets as of June 30, 2022, 2021 and 2020 consisted of the following: As of As of Deferred tax assets Unused tax losses 62,717 36,797 Employee entitlements 1,294 650 Warranties 1,571 1,178 Lease liabilities 8,871 6,173 Other 3,987 5,262 Total deferred tax assets 78,440 50,060 Deferred tax liabilities Right of use assets (7,392 ) (5,476 ) Total deferred tax liabilities (7,392 ) (5,476 ) Valuation allowance applied (71,048 ) (44,584 ) Net deferred tax assets — — As of As of Changes in deferred taxation allowance Opening balance – July 1 (44,584 ) (25,989 ) (Increase) in deferred tax assets (excluding losses) (25,901 ) (15,818 ) Other movements including foreign currency and rate differential (563 ) (2,777 ) Valuation allowance on tax losses (71,048 ) (44,584 ) |
Schedule of Reconciliation of Valuation Allowance |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Cash and Cash Equivalents [Abstract] | |
Schedule of Cash and Cash Equivalents | June 30, 2022 June 30, 2021 Cash and cash equivalents 70,753 6,157 |
Accounts Receivable, Net of A_2
Accounts Receivable, Net of Allowance for Expected Credit Losses (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Receivables [Abstract] | |
Schedule of Accounts Receivable | June 30, 2022 June 30, 2021 Account receivable – related parties 16 2,991 Trade receivables 28,559 9,427 Less: Allowance for expected credit losses (275 ) (227 ) Sales tax receivable 1,150 1,037 Other receivables 1,107 854 Total accounts receivables – external parties 30,541 11,091 |
Accounts Receivable, Noncurrent, Past Due | Consolidated Expected credit loss rate Carrying amount Allowance for expected credit losses 2022 2021 2022 2021 2022 2021 % % $ ’000 $ ’000 $ ’000 $ ’000 Less than 30 days past due — — 16,337 7,867 — — 30 to 60 days past due — — 1,674 2,512 — — 61 to 90 days past due — — 710 562 — — Greater than 90 days past due 2.8 15.4 9,854 1,477 (275 ) (227 ) 28,575 12,418 (275 ) (227 ) |
Accounts Receivable, Allowance for Credit Loss | Provision June 30, 2022 June 30, 2021 Opening balance of provision – July 1 (227 ) (73 ) Provision created during the year (255 ) (145 ) Recoveries during the year 171 — Foreign currency translation movements 36 (9 ) Closing balance of provision – June 30 (275 ) (227 ) |
Inventory (Tables)
Inventory (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory | June 30, 2022 June 30, 2021 Raw materials and consumables 44,843 24,431 Work in progress 4,561 1,132 Finished goods 3,457 10,069 Stock in transit 2,845 798 Total inventory 55,706 36,430 |
Prepaid Expenses (Tables)
Prepaid Expenses (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure Of Prepaid Expenses [Abstract] | |
Schedule of Prepaid Expenses | June 30, 2022 June 30, 2021 Prepaid expenses 4,873 918 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of Deposit [Abstract] | |
Schedule of Deposit Current and Non Current | June 30, 2022 June 30, 2021 Current assets Term deposits held against bank guarantees 3,796 401 Supplier deposits 11,879 4,511 Total current deposits 15,675 4,912 Non-current Term deposits held against bank guarantees — 1,350 Supplier deposits — — Total non-current — 1,350 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Property, Plant and Equipment [Abstract] | |
Summary of Property, Plant and Equipment | Plant and Furniture, Motor Computer Leasehold Construction Total $’000 $’000 $’000 $’000 $’000 $’000 $’000 Year ended June 30, 2021 Opening net book amount 2,176 277 229 225 1,877 — 4,784 Additions 2,168 36 182 292 381 — 3,059 Disposals — — (99 ) (148 ) — — (247 ) Depreciation (1,040 ) (185 ) (63 ) (372 ) (652 ) — (2,312 ) Exchange rate variation 185 27 (5 ) 21 177 — 405 Closing net book amount 3,489 155 244 18 1,783 — 5,689 Year ended June 30, 2021 Cost 5,648 606 457 1,403 3,524 — 11,638 Accumulated depreciation (2,159 ) (451 ) (213 ) (1,384 ) (1,741 ) — (5,948 ) Net book amount 3,489 155 244 18 1,783 — 5,689 Year ended June 30, 2022 Opening net book amount 3,489 155 244 18 1,783 — 5,689 Additions 1,350 60 23 423 236 5,929 8,021 Disposals — — — — — — — Depreciation (988 ) (102 ) (55 ) (444 ) (609 ) — (2,198 ) Exchange rate variation (223 ) (9 ) (33 ) 17 (113 ) — (361 ) Closing net book amount 3,628 104 179 14 1,297 5,929 11,151 Year ended June 30, 2022 Cost 6,515 616 430 1,707 3,464 5,929 18,661 Accumulated depreciation (2,887 ) (512 ) (251 ) (1,693 ) (2,167 ) — (7,510 ) Net book amount 3,628 104 179 14 1,297 5,929 11,151 |
Accounts Payable (Tables)
Accounts Payable (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Payables and Accruals [Abstract] | |
Summary of Accounts Payable | June 30, 2022 June 30, 2021 Current liabilities Trade payables 31,041 10,982 Accrued expenses 1,461 1,270 Other payables 6,385 3,894 Sales tax payable 8,623 965 Related party payables 93 24 Total accounts payable 47,603 17,135 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Debt Disclosure [Abstract] | |
Schedule of Debt | June 30, 2022 June 30, 2021 Current liabilities Convertible notes — 36,546 Other borrowings 74 25 Total current borrowings 74 36,571 Non-current Interest-bearing borrowings 88,269 38,350 Related party borrowings — 6,392 Borrowing costs — (981 ) Total non-current 88,269 43,761 Total borrowings 88,343 80,332 |
Disclosure In Tabular Form Of Movements In Long Term Debt | Borrowing costs have been included in the interest-bearing borrowings line item in the current year. June 30, 2022 June 30, 2021 Borrowings Rollforward Opening Balance – July 1 80,332 35,543 Drawdowns of facilities 117,527 32,493 Transaction costs paid (3,888 ) — Issuance costs of borrowings capitalised — 286 Repayment of borrowings ( (72,407 ) — Accrued Interest 12,761 8,273 Conversion of convertible notes (42,570 ) — Credit card borrowings 49 10 Foreign currency translations movements (3,461 ) 3,727 Closing Balance – June 30 88,343 80,332 |
Fair Value measurements (Tables
Fair Value measurements (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Summary of assets and liabilities that were measured at fair value on a recurring basis | The Company’s assets and liabilities that were measured at fair value on a recurring basis were as follows: Fair Value Measured as of June 30, 2022 Level 1 Level 2 Level 3 Total $’000 $’000 $’000 $’000 Common stock Public warrant liabilities 12,019 — — 12,019 Common stock Private warrant liabilities — 321 — 321 Total 12,019 321 — 12,340 |
Summary of changes in the fair value | The following table presents a summary of the changes in the fair value of the Group’s warrant liability: Public warrants Private warrants Total Number of Amounts Number of Amounts Number of Amounts Balance as of June 30, 2021 — — — — — — Warrants liability assumed in Business Combination 13,416,592 19,857 8,366,667 12,383 21,783,259 32,240 Reclassification of warrants to stockholders’ deficit due to exercise (4,379,462 ) (11,364 ) (8,125,520 ) (12,027 ) (12,504,982 ) (23,391 ) Change in fair value — 3,526 — (35 ) — 3,491 Balance as of June 30, 2022 9,037,130 12,019 241,147 321 9,278,277 12,340 |
Employee Benefits (Tables)
Employee Benefits (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Employee Benefits [Abstract] | |
Summary Of Employee Benefits | June 30, 2022 June 30, 2021 Current liabilities Annual leave 2,345 1,859 Long service leave 308 178 Total current employee benefits 2,653 2,037 Non-current Long service leave 217 125 Total employee benefits 2,870 2,162 |
Other Liabilities (Table)
Other Liabilities (Table) | 12 Months Ended |
Jun. 30, 2022 | |
Other Liabilities Disclosure [Abstract] | |
Summary of Other Liabilities | June 30, 2022 June 30, 2021 Current liabilities Insurance and other liabilities 1,769 90 Cash settled employee liabilities 152 5,345 Deferred fulfillment liabilities 432 432 Commissions 586 234 Total current other liabilities 2,939 6,101 |
Other Provisions (Tables)
Other Provisions (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Other Provisions [Abstract] | |
Summary of Other Provisions | June 30, 2022 June 30, 2021 Current liabilities Warranties 1,326 1,384 Legal Provisions 126 326 Bonus Provision 1,028 627 Transaction and offering related fees 25,143 3,012 Total other provisions - current 27,623 5,349 Non-current liabilities Warranties 2,652 2,541 Total other provisions 30,275 7,890 |
Summary of Provision For Warranties | The balance for transaction and offering related fees as at June 30, 2022 is expected to be settled in cash. Provision for warranties June 30, 2022 June 30, 2021 Opening balance of warranties – July 1 3,925 3,570 Warranty utilized during the year (3,295 ) (2,308 ) Provision created during the year 3,656 2,329 Foreign currency translation adjustment (308 ) 334 Closing balance of provision for warranties – June 30 3,978 3,925 |
Right of Use Assets and Lease_2
Right of Use Assets and Lease Liabilities (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Right Of Use Assets And Lease Liabilities [Abstract] | |
Summary of Operating Leases | June 30, 2022 June 30, 2021 Total right of use assets 24,640 18,312 Lease liabilities Current lease liabilities 4,020 2,941 Non-current 25,556 17,660 Total lease liabilities 29,576 20,601 |
Summary of The Maturity of The Lease Payments | For the current period ending June 30, 2022, the maturity of the lease payments is as follows: Operating leases Amount June 30, 2023 3,942 June 30, 2024 3,853 June 30, 2025 4,155 June 30, 2026 4,379 June 30, 2027 4,433 Thereafter 12,049 Total minimum lease payments 32,811 Less amount representing interest (3,235 ) Present value of lease liabilities 29,576 Less: current portion (4,020 ) Long term portion of lease liabilities 25,556 |
Contract Liabilities (Tables)
Contract Liabilities (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Contract with Customer, Liability [Abstract] | |
Summary of Contract With Customer Liability | June 30, 2022 June 30, 2021 Current liabilities Customer advance deposits 33,508 6,561 Unearned revenue 4,219 2,637 Total current contract liabilities 37,727 9,198 Non-current liabilities Customer advance deposits 847 — Unearned revenue 1,384 1,618 Total non-current 2,231 1,618 Total contract liabilities 39,958 10,816 |
Segment Reporting (Tables)
Segment Reporting (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Segment Reporting [Abstract] | |
Summary of revenue by Group's reportable segments | The following table presents revenue by the Group’s reportable segments: Hardware Revenue Stand Alone Distributed Other Total Service and Total Year Ended June 30, 2020 Revenue 13,817 27,431 230 41,478 5,491 46,969 Cost of goods sold (13,682 ) (31,867 ) (256 ) (45,805 ) (2,138 ) (47,943 ) Segment gross profit/(loss) 135 (4,436 ) (26 ) (4,327 ) 3,353 (974 ) Year Ended June 30, 2021 Revenue 20,084 32,974 504 53,562 2,595 56,157 Cost of goods sold (21,099 ) (33,718 ) (371 ) (55,188 ) (2,873 ) (58,061 ) Segment gross profit/(loss) (1,015 ) (744 ) 133 (1,626 ) (278 ) (1,904 ) Year Ended June 30, 2022 Revenue 52,072 26,603 2,157 80,832 4,989 85,821 Cost of goods sold (51,907 ) (28,597 ) (1,879 ) (82,383 ) (3,778 ) (86,161 ) Segment gross profit/(loss) 165 (1,994 ) 278 (1,551 ) 1,211 (340 ) |
Summary of reconciliation of loss from operations and segment gross margin | The following table reconciles segment gross (loss) to loss from operations and a calculation of segment gross margin: Group Year Ended Year Ended Year Ended Revenue 85,821 56,157 46,969 Cost of goods sold (86,161 ) (58,061 ) (47,943 ) Segment gross (loss) (340 ) (1,904 ) (974 ) Selling, general and administration expense (74,323 ) (31,624 ) (23,615 ) Product development expense (14,031 ) (10,521 ) (9,548 ) Foreign exchange gain/(loss) (4,208 ) (1,436 ) (231 ) Total operating costs and expenses (92,562 ) (43,581 ) (33,394 ) Segment gross (loss) (340 ) (1,904 ) (974 ) Revenue 85,821 56,157 46,969 Segment gross margin (0.4 %) (3.4 %) (2.1 %) |
Summary of revenue and long-lived assets by geographic area | The following table presents the Group’s revenue by geographic area based on the entity that has entered the external contract to supply the product and services. The entity’s geographical area is based on the place of incorporation. Group Year Ended Year Ended Year Ended Australia 12,735 5,044 10,420 United States 33,174 12,730 5,802 The Netherlands 39,912 38,383 30,747 Total revenue 85,821 56,157 46,969 The following table presents long-lived assets by geographic area on the same basis as detailed above: Group Year Ended Year Ended Australia 18,709 16,138 United States 16,290 2,754 The Netherlands 792 5,109 Total long-lived assets 35,791 24,001 |
Loss Per Share (Tables)
Loss Per Share (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The following table presents net loss per share and related information: Group Basic and diluted loss per share June 30, 2022 June 30, 2021 June 30, 2020 Net (loss) attributable to common shareholders $ (127,562,000 ) $ (63,091,853 ) $ (34,444,303 ) Weighted average number of shares Basic and diluted - common shares 126,814,171 99,915,563 97,565,239 Basic and diluted net loss per share $ (1.01 ) $ (0.58 ) $ (0.33 ) Basic and diluted - C shares 8,047,417 8,047,417 Basic and diluted net loss per share $ (0.58 ) $ (0.33 ) The Loss per share as previously reported was calculated on the following basis: Group Basic and diluted loss per share June 30, 2021 June 30, 2020 Net (loss) attributable to common shareholders $ (58,389,069 ) $ (31,819,734 ) Weighted average number of shares – Basic and diluted 67,892,971 66,295,918 Basic and diluted net loss per share – common shareholders $ (0.86 ) $ (0.48 ) Net loss attributable to class C shareholders $ (4,702,784 ) $ (2,624,569 ) Weighted average number of class C shares 5,468,249 5,468,249 Basic and diluted net loss per share – class C shareholders $ (0.86 ) $ (0.48 ) |
Share Options Outstanding (Tabl
Share Options Outstanding (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |
Summary of Share Options Outstanding | Average Average Average No. of shares Balance of shares subject to options at July 1, 2021 Options granted 0.25 $ 6.17 — 1,328,758 Options exercised — — — — Options cancelled — — — — Balance at June 30, 0.25 $ 6.19 — 1,328,758 |
Summary Of Share Appreciation Rights Outstanding | Weighted 2022 Weighted 2021 Weighted 2020 Balance of shares subject to options at beginning of year 8.74 1,611,528 2.46 27,451 2.46 27,451 Rights granted — 100,000 8.76 1,584,077 — — Rights exercised — (1,449,677 ) — — — — Rights cancelled — — — — — — Balance at reporting date — 261,851 8.74 1,611,528 2.46 27,451 Converted to DCFC Shares — 326,211 USD10.00 — — — |
Loan Funded Share Plan [Member] | |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |
Summary of Share Options Outstanding | Average Weighted Average Weighted Average No. of shares Balance of shares subject to 5.82 1.44 2.60 2,055,828 Options granted — — — — Options exercised — — — — Options cancelled — — — — Balance at June 30, 2020 4.82 1.44 2.60 2,055,828 Options granted 7 1.31 4.44 3,305,998 Options exercised — — — — Options cancelled — — — — Balance at June 30, 2021 5 . 1.36 3.74 5,361,826 Options granted — — — — Options exercised — — — — Options modified 4.42 1.55 3.69 (2,507,658 ) Options cancelled — — — — Balance pre conversion 4.18 1.19 3.78 2,854,168 Converted to Tritium DCFC — — — 4,200,371 Average Weighted Average Weighted Average No. Year ended June 30, 2022 Balance of shares following 4.18 0.82 2.60 4,200,371 Options granted — — — — Options exercised — — — — Options cancelled — — — — Balance at June 30, 2022 (vested 4.18 0.82 2.60 4,200,371 |
Fair Valuation of Share-Based_2
Fair Valuation of Share-Based Compensation (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Line Items] | |
Share-Based Payment Arrangement, Stock Appreciation Right, Activity | Weighted 2022 Weighted 2021 Weighted 2020 Balance of shares subject to options at beginning of year 8.74 1,611,528 2.46 27,451 2.46 27,451 Rights granted — 100,000 8.76 1,584,077 — — Rights exercised — (1,449,677 ) — — — — Rights cancelled — — — — — — Balance at reporting date — 261,851 8.74 1,611,528 2.46 27,451 Converted to DCFC Shares — 326,211 USD10.00 — — — |
Shadow Equity Plan | |
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Line Items] | |
Share-Based Payment Arrangement, Stock Appreciation Right, Activity | The weighted average fair value for the share appreciation rights under the SEP that were outstanding (including issuances in the year) as at June 30, 2021 and 2020 and at the BCA date (where the entitled was measured) was determined using the following key inputs: Group Entitlement date (14 January 2022) June 30, 2021 June 30, 2020 Risk free interest rate 0.05 % 0.04 % 0.04 % Expected term 0.0 years 0.6 years 1.6 years Expected volatility 60 % 60 % 60 % Dividend yield 0.00 % 0.00 % 0.00 % Indicative share price $ 20.94 AUD $ 12.13 AUD $ 4.44 AUD Offer value $ 3.40 AUD $ 3.40 AUD $ 4.44 AUD |
Loan Funded Share Plan | |
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Line Items] | |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions | The weighted average fair value for share options that were outstanding (including issuances in the year) as at June 30, 2022, 2021 and 2020 are as follows: Group June 30, 2022 June 30, 2021 June 30, 2020 Risk free interest rate 1.56 % 1.59 % 2.18 % Expected term 0.5 years 1.5 years 2.5 years Expected volatility 60 % 60 % 40 % Dividend yield 0.00 % 0.00 % 0.00 % Grant value fair value per share $ 1.19 AUD $ 1.36 AUD $ 1.44 AUD Share price $ 3.78 AUD $ 3.74 AUD $ 2.60 AUD Aggregate intrinsic value of shares vested and not yet exercised (USD) $ 524,983 $ 2,835,795 $ 2,605,641 |
Long Term Incentive Plan | |
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Line Items] | |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions | The weighted average fair value for share options that were outstanding (including issuances in the year) as at June 30, 2022 are as follows: June 30, 2022 Risk free interest rate 2.68 % Expected term 3 Expected volatility 80 % Dividend yield 0 Grant value fair value per share $ 6.17 Share price $ 6.17 Aggregate intrinsic value of shares vested and not yet exercised (USD) 0 |
Related Party Disclosures (Tabl
Related Party Disclosures (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions | Unless otherwise disclosed, transactions with other related parties are made on normal commercial terms and at market rates. All related parties are companies that are associated shareholders. Hardware Service and Accounts Purchases Accounts Loan Year ended June 30, 2020 Gilbarco 6,402 2 3,510 1 — — Fast Cities Australia — 981 378 — — — St Baker Energy — — — 194 20 5,240 Total 6,402 983 3,888 195 20 5,240 Year ended June 30, 2021 Gilbarco 19,122 — 2,471 335 142 — Fast Cities Australia 2,141 1 520 — — — St Baker Energy — — — 256 23 6,392 Total 21,263 1 2,991 591 165 6,392 Year ended June 30, 2022 Gilbarco 8,135 — — 338 — — Fast Cities Australia 3,454 — 16 — — — St Baker Energy — — — 345 93 — Total 11,589 — 16 683 93 — |
Tritium DCFC Limited and Cont_2
Tritium DCFC Limited and Controlled Entities (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Tritium DCFC Limited And Controlled Entities [Abstract] | |
Schedule of Business Acquisitions, by Acquisition | Controlled entities Name of entity Ownership interest Ownership interest Ownership interest Place of Tritium Holdings Pty Ltd 100 % 100 % 100 % Australia Decarbonization Plus 100 % — — United States of America Tritium America 100 % 100 % 100 % United States of America Tritium Technologies LLC 100 % 100 % 100 % United States of America Tritium Europe B.V 100 % 100 % 100 % The Netherlands Tritium Technologies B.V 100 % 100 % 100 % The Netherlands Tritium Pty Ltd 100 % 100 % 100 % Australia Tritium Nominee Pty Ltd 100 % 100 % 100 % Australia Tritium Technologies 100 % 100 % — The United Kingdom |
Reverse Capitalization and Bu_2
Reverse Capitalization and Business Combination (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Reverse Capitalization And Business Combination [Abstract] | |
Summary of Shares Outstanding Consummation of the Merger | The number of shares of Common Stock of Tritium DCFC Limited issued immediately following the consummation of the Merger was as follows: Number of Shares Amounts (US$’000) Common Stock of DCRN, outstanding prior to the Merger 50,312,500 — Less redemption of DCRN shares (34,931,806 ) — DCFC shares issued to legacy of DCRN stockholders, in exchange of DCRN’s shares 15,380,694 53,183 Shares issued in PIPE 2,500,000 15,000 Total shares issued to legacy DCRN stockholders and PIPE funding shares 17,880,694 68,183 DCFC shares issued to legacy Tritium stockholders, in exchange for Tritium’s shares 120,000,000 139,762 Total shares of common stock, immediately after Merger 137,880,694 207,945 |
Summary of Fair Value of Net Assets of the Acquiree | The table below presents the net deemed fair value attributable to the acquisition of DCRN and its impact on the consolidated statement of changes of shareholders deficit: Description Amounts (US$’000) DCRN net cash acquired 53,183 DCRN historical accumulated losses (51,598 ) DCRN transaction costs capitalised (14,335 ) Conversion of DCRN Class A and Class B shares into DCFC Common Stock, (12,750 ) |
Summary of Historical Capital on Merger | This has resulted in the following impact on the historical share capital: Legacy Tritium Holdings at June 30, 2021 Restated Tritium DCFC at June 30, 2021 Legacy Tritium Holdings at June 30, 2020 Restated Tritium DCFC at June 30, 2020 Legacy Tritium Holdings at June 30, 2019 Restated Tritium DCFC at June 30, 2019 Common shares 73,254,797 107,806,361 69,948,799 102,941,047 62,071,451 91,348,247 Treasury shares (5,361,826 ) (7,890,800 ) (2,055,828 ) (3,025,486 ) (2,055,828 ) (3,025,486 ) Class C shares 5,468,249 8,052,499 5,468,249 8,052,499 5,468,249 8,052,499 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) | 12 Months Ended | ||||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | Sep. 02, 2022 | Jun. 30, 2019 | |
Stockholders' equity attributable to parent | $ (40,549,000) | $ (64,008,000) | $ (3,902,000) | $ 7,465,000 | |
Net income (loss) attributable to parent | (127,562,000) | (63,092,000) | (34,444,000) | ||
Amount of cash inflow (outflow) from operating activities | 86,800,000 | 32,500,000 | 40,400,000 | ||
Research and development expense | 14,031,000 | 10,521,000 | 9,548,000 | ||
Unrecognized tax benefits that would impact effective tax rate | 50 | ||||
Unrecognized tax benefits income tax penalties and interest expense | 0 | 0 | 0 | ||
Unrecognized tax benefits | $ 0 | 0 | $ 0 | ||
Debt securities held-to-maturity threshold period past due | 12 months | ||||
Restricted investment maturity period | 90 days | ||||
Accounts receivable noncurrent threshold period past due | 30 days | ||||
Impairment long-lived asset held-for-use | $ 0 | 0 | |||
Finance lease liability | $ 0 | 0 | |||
Accounts payable noncurrent threshold period past due | 30 days | ||||
Extended product warranty period | 12 months | ||||
Inventory | $ 55,100,000 | $ 36,400,000 | |||
Common stock par or stated value per share | $ 0 | $ 0 | |||
Common stock shares issued | 153,094,269 | 107,806,361 | |||
Common stock shares outstanding | 148,893,898 | 99,915,561 | |||
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration] | Finance lease liability | Finance lease liability | |||
Senior Debt Obligations [Member] | Cigna And Barrings [Member] | |||||
Debt instrument face value | $ 90,000,000 | ||||
Equity Facility [Member] | B Riley Principal Capital Two LLC [Member] | |||||
Debt instrument face value | $ 75,000,000 | ||||
Subsequent Event [Member] | First Amendment [Member] | Senior Debt Obligations [Member] | Cigna And Barrings [Member] | |||||
Debt instrument face value | $ 60,000,000 | ||||
Subsequent Event [Member] | Additional Debt Facility [Member] | First Amendment [Member] | Senior Debt Obligations [Member] | Cigna And Barrings [Member] | |||||
Debt instrument face value | $ 150,000,000 | ||||
Public Warrants And Private Placement Warrants [Member] | |||||
Percentage of shares accepted by holders of more than outstanding shares of the Company's ordinary shares | 50% | ||||
Sponsor [Member] | Public Warrants [Member] | |||||
Class of warrants or rights issued during the period units | 9,037,130 | ||||
Number of securities called by each warrant or right | 4,379,462 | ||||
Sponsor [Member] | Public Warrants [Member] | IPO And Over-Allotment [Member] | |||||
Class of warrants or rights issued during the period units | 13,416,592 | ||||
Sponsor [Member] | Private Placement Warrants [Member] | |||||
Class of warrants or rights issued during the period units | 241,147 | ||||
Number of securities called by each warrant or right | 8,125,520 | ||||
Sponsor [Member] | Private Placement Warrants [Member] | IPO And Over-Allotment [Member] | |||||
Class of warrants or rights issued during the period units | 8,366,667 | ||||
Sponsor [Member] | Public Warrants And Private Placement Warrants [Member] | IPO And Over-Allotment [Member] | |||||
Common stock par or stated value per share | $ 0.0001 | ||||
Exercise price of warrants or rights | $ 10 | ||||
Inventory Valuation and Obsolescence [Member] | |||||
Inventory valuation reserves | $ 500,000 | $ 0 | |||
Legacy Tritium Class C Shares [Member] | |||||
Common stock par or stated value per share | $ 0 | $ 0 | |||
Common stock shares issued | 0 | 8,052,499 | |||
Common stock shares outstanding | 0 | 8,052,499 | |||
Legacy Tritium Class C Shares [Member] | Previously Reported [Member] | |||||
Common stock shares outstanding | 5,468,249 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Schedule of Depreciation Rates on Depreciable Asset (Detail) | 12 Months Ended |
Jun. 30, 2022 | |
Plant and equipment [Member] | Minimum [Member] | |
Schedule of Depreciation Rates on Depreciable Asset [Line Items] | |
Depreciation rate on property plant and equipment | 12.50% |
Plant and equipment [Member] | Maximum [Member] | |
Schedule of Depreciation Rates on Depreciable Asset [Line Items] | |
Depreciation rate on property plant and equipment | 33.34% |
Furniture, Fixtures and Fittings [Member] | |
Schedule of Depreciation Rates on Depreciable Asset [Line Items] | |
Depreciation rate on property plant and equipment | 10% |
Motor Vehicles [Member] | |
Schedule of Depreciation Rates on Depreciable Asset [Line Items] | |
Depreciation rate on property plant and equipment | 33.34% |
Office Equipment [Member] | |
Schedule of Depreciation Rates on Depreciable Asset [Line Items] | |
Depreciation rate on property plant and equipment | 20% |
Computer Equipment [Member] | |
Schedule of Depreciation Rates on Depreciable Asset [Line Items] | |
Depreciation rate on property plant and equipment | 33.34% |
Revenue and Other Income - Addi
Revenue and Other Income - Additional Information (Detail) | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Customer Concentration Risk | Revenue Benchmark | Two Customers [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Concentration risk percentage | 16% | 4% | 15% |
Revenue and Other Income - Sche
Revenue and Other Income - Schedule of Disaggregation of Revenue and Other Income (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | $ 85,821 | $ 56,157 | $ 46,969 |
(b) Other income | |||
Interest received | 7 | 12 | 18 |
Government grants | 18 | 1,757 | 1,412 |
Other income | 36 | 171 | 3 |
Total other income | 61 | 1,940 | 1,433 |
Hardware revenue – external parties [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 69,243 | 32,299 | 34,095 |
Hardware revenue – related parties [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 11,589 | 21,263 | 7,383 |
Service and maintenance revenue – external parties [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | $ 4,989 | 2,594 | 5,489 |
Service and maintenance revenue – related parties [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | $ 1 | $ 2 |
Selling, General and Administ_3
Selling, General and Administration Expenses - Schedule of Selling General and Administration Expenses (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Selling, General and Administrative Expense [Abstract] | |||
Equity settled share-based compensation expense | $ (12,339) | $ (3,122) | |
Cash settled share-based compensation expense9 | (15,849) | (5,249) | |
Wages, salaries, and other employee benefits | (22,582) | (14,543) | $ (14,354) |
Depreciation expense | (1,582) | (2,312) | (1,309) |
IT and communications | (6,247) | (1,660) | (1,428) |
Occupancy | (4,198) | (1,464) | (2,729) |
Sales and marketing | (449) | (188) | (304) |
Insurance | (3,370) | (627) | (382) |
Professional fees | (5,625) | (1,470) | (1,439) |
Expected credit losses on trade receivables | (61) | (148) | 151 |
Bad debt expenses | (73) | (21) | (4) |
Travel, meals, and accommodation expenses | (1,400) | (178) | (1,221) |
Other administration expenses | (490) | (290) | (230) |
Other operating expenses | (58) | (352) | (366) |
Total selling, general and administration expenses | $ (74,323) | $ (31,624) | $ (23,615) |
Selling, General and Administ_4
Selling, General and Administration Expenses - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Selling General And Administrative Expense [Line Items] | ||
Equity settled share-based compensation expense | $ 12,339 | $ 3,122 |
Business Combination [Member] | ||
Selling General And Administrative Expense [Line Items] | ||
Equity settled share-based compensation expense | $ 6,400 |
Finance Costs and Fair Value _3
Finance Costs and Fair Value Movement - Schedule Of Finance Costs And Fair Value Movement (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Finance costs | |||
Interest on debt and borrowings (Note 14) | $ (17,142) | $ (8,588) | $ (1,508) |
Other finance costs | (994) | (207) | (1) |
Total finance costs | (18,136) | (8,795) | $ (1,509) |
Prepayment fee feature | (6,291) | (5,947) | |
Warrant liability | (3,491) | ||
Total Fair value movement | $ (9,782) | $ (5,947) |
Finance Costs and Fair Value _4
Finance Costs and Fair Value Movement - Additional Information (Detail) $ in Millions | Jun. 30, 2022 USD ($) |
Disclosure Of Finance Costs And Fair Value Movement [Abstract] | |
Cash settled share based compensation liability | $ 0.2 |
Transaction and Offering Rela_3
Transaction and Offering Related Fees - Schedule Of Transaction And Offering Related Fees (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Disclosure Of Transaction And Offering Related Fees [Abstract] | |||
Professional fees | $ (150) | $ (4,794) | |
FBT tax expense | (5,683) | ||
Other transaction and offering related fees | (950) | ||
Total transaction and offering related fees | $ (6,783) | $ (4,794) | $ 0 |
Income Tax Expense - Summary Of
Income Tax Expense - Summary Of Effective Income Tax Rate Reconciliation (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract] | |||
Tax at the statutory tax rate of 30% | $ (38,263) | $ (18,928) | $ (10,333) |
Tax effect amounts which are not deductible/(taxable) in calculating taxable income: | |||
Foreign tax rate differential | 563 | 321 | 466 |
Non-deductible items | 6,778 | 3,389 | 504 |
Current year tax losses and temporary difference not recognized | 30,902 | 15,207 | 9,363 |
Effective income tax | $ (20) | $ (11) | $ 0 |
Income Tax Expense - Summary _2
Income Tax Expense - Summary Of Effective Income Tax Rate Reconciliation (Parenthetical) (Detail) | 12 Months Ended |
Jun. 30, 2022 | |
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract] | |
Effective income tax rate reconciliation, statutory tax rate | 30% |
Income Tax Expense - Summary _3
Income Tax Expense - Summary Of Net Deferred Tax assets (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 |
Deferred tax assets | |||
Unused tax losses | $ 62,717 | $ 36,797 | |
Employee entitlements | 1,294 | 650 | |
Warranties | 1,571 | 1,178 | |
Lease liabilities | 8,871 | 6,173 | |
Other | 3,987 | 5,262 | |
Total deferred tax assets | 78,440 | 50,060 | |
Deferred tax liabilities | |||
Right of use assets | (7,392) | (5,476) | |
Total deferred tax liabilities | (7,392) | (5,476) | |
Valuation allowance applied | (71,048) | (44,584) | $ (25,989) |
Net deferred tax assets | $ 0 | $ 0 |
Income Tax Expense - Summary _4
Income Tax Expense - Summary Of Reconciliation Of Valuation Allowance (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Valuation Allowance [Abstract] | ||
Opening balance – July 1 | $ (44,584) | $ (25,989) |
(Increase) in deferred tax assets (excluding losses) | (25,901) | (15,818) |
Other movements including foreign currency and rate differential | (563) | (2,777) |
Valuation allowance on tax losses | $ (71,048) | $ (44,584) |
Income Tax Expense - Additional
Income Tax Expense - Additional Information (Detail) - USD ($) $ in Millions | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 |
Income Tax Disclosure [Abstract] | |||
Deferred tax assets operating loss carry forwards, foreign | $ 197.8 | $ 107.9 | $ 83 |
Cash and Cash Equivalents - Sch
Cash and Cash Equivalents - Schedule Of Cash And Cash Equivalents (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Cash and Cash Equivalents [Abstract] | ||
Cash and cash equivalents | $ 70,753 | $ 6,157 |
Cash and Cash Equivalents - Add
Cash and Cash Equivalents - Additional Information (Detail) - CIGNA Refinance Loan Agreement [Member] $ in Millions | 12 Months Ended |
Jun. 30, 2022 USD ($) | |
Cash and Cash Equivalents [Line Items] | |
Cash held with financial institutions | $ 90 |
Liquidity reserve threshold limit | 65 |
Decrease in liquidity reserve | $ 25 |
Accounts Receivable, Net of A_3
Accounts Receivable, Net of Allowance for Expected Credit Losses - Summary Of Accounts Receivable (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 |
Receivables [Abstract] | |||
Accounts receivable - related parties | $ 16 | $ 2,991 | |
Trade receivables | 28,559 | 9,427 | |
Less: Allowance for expected credit losses | (275) | (227) | $ (73) |
Sales tax receivable | 1,150 | 1,037 | |
Other receivables | 1,107 | 854 | |
Total accounts receivables – external parties | $ 30,541 | $ 11,091 |
Accounts Receivable, Net of A_4
Accounts Receivable, Net of Allowance for Expected Credit Losses - Summary Of Accounts Receivable Past Due (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 |
Accounts Receivable, Noncurrent, Past Due [Line Items] | |||
Carrying amount | $ 28,575 | $ 12,418 | |
Allowance for expected credit losses | (275) | $ (227) | $ (73) |
Less than 30 days past due | |||
Accounts Receivable, Noncurrent, Past Due [Line Items] | |||
Expected credit loss rate | 0% | ||
Carrying amount | 16,337 | $ 7,867 | |
Allowance for expected credit losses | $ 0 | ||
30 to 60 days past due | |||
Accounts Receivable, Noncurrent, Past Due [Line Items] | |||
Expected credit loss rate | 0% | ||
Carrying amount | 1,674 | $ 2,512 | |
Allowance for expected credit losses | $ 0 | ||
61 to 90 days past due | |||
Accounts Receivable, Noncurrent, Past Due [Line Items] | |||
Expected credit loss rate | 0% | ||
Carrying amount | $ 710 | $ 562 | |
Allowance for expected credit losses | $ 0 | ||
Greater than 90 days past due | |||
Accounts Receivable, Noncurrent, Past Due [Line Items] | |||
Expected credit loss rate | 2.80% | 15.40% | |
Carrying amount | $ 9,854 | $ 1,477 | |
Allowance for expected credit losses | $ (275) | $ (227) |
Accounts Receivable, Net of A_5
Accounts Receivable, Net of Allowance for Expected Credit Losses - Summary Of Allowance For Doubtful Accounts Receivable Reconciliation (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Allowance for Credit Loss [Abstract] | ||
Opening balance of provision – July 1 | $ (227) | $ (73) |
Provision created during the year | (255) | (145) |
Recoveries during the year | 171 | 0 |
Foreign currency translation movements | 36 | (9) |
Closing balance of provision – June 30 | $ (275) | $ (227) |
Inventory - Schedule Of Invento
Inventory - Schedule Of Inventory (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Inventory Disclosure [Abstract] | ||
Raw materials and consumables | $ 44,843 | $ 24,431 |
Work in progress | 4,561 | 1,132 |
Finished goods | 3,457 | 10,069 |
Stock in transit | 2,845 | 798 |
Total inventory | $ 55,706 | $ 36,430 |
Inventory - Additional Informat
Inventory - Additional Information (Detail) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Inventory Disclosure [Abstract] | ||
Inventory written down | $ 0.5 | $ 0 |
Prepaid Expenses - Schedule of
Prepaid Expenses - Schedule of Prepaid Expenses (Detail) - USD ($) $ in Thousands | Jul. 13, 2022 | Jun. 30, 2022 | Jun. 30, 2021 |
Disclosure Of Prepaid Expenses [Abstract] | |||
Prepaid expenses | $ 4,873 | $ 4,873 | $ 918 |
Prepaid Expenses - Additional I
Prepaid Expenses - Additional Information (Detail) $ in Millions | Jun. 30, 2022 USD ($) |
Disclosure Of Prepaid Expenses [Abstract] | |
Prepaid insurance related to director and officer | $ 4.9 |
Deposits - Schedule of Deposit
Deposits - Schedule of Deposit Current and Non Current (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Current assets | ||
Term deposits held against bank guarantees | $ 3,796 | $ 401 |
Supplier deposits | 11,879 | 4,511 |
Total current deposits | 15,675 | 4,912 |
Non-current assets | ||
Term deposits held against bank guarantees | 1,350 | |
Total non-current deposits | $ 0 | $ 1,350 |
Property, Plant and Equipment -
Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Property, Plant and Equipment [Line Items] | |||
Opening net book amount | $ 5,689 | $ 4,784 | |
Additions | 8,021 | 3,059 | |
Disposals | (247) | ||
Depreciation | (2,198) | (2,312) | $ (1,309) |
Exchange rate variation | (361) | 405 | |
Closing net book amount | 11,151 | 5,689 | 4,784 |
Cost | 18,661 | 11,638 | |
Accumulated depreciation | (7,510) | (5,948) | |
Net book amount | 11,151 | 5,689 | 4,784 |
Plant and Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Opening net book amount | 3,489 | 2,176 | |
Additions | 1,350 | 2,168 | |
Depreciation | (988) | (1,040) | |
Exchange rate variation | (223) | 185 | |
Closing net book amount | 3,628 | 3,489 | 2,176 |
Cost | 6,515 | 5,648 | |
Accumulated depreciation | (2,887) | (2,159) | |
Net book amount | 3,628 | 3,489 | 2,176 |
Furniture, Fixtures and Fittings [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Opening net book amount | 155 | 277 | |
Additions | 60 | 36 | |
Depreciation | (102) | (185) | |
Exchange rate variation | (9) | 27 | |
Closing net book amount | 104 | 155 | 277 |
Cost | 616 | 606 | |
Accumulated depreciation | (512) | (451) | |
Net book amount | 104 | 155 | 277 |
Motor Vehicles [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Opening net book amount | 244 | 229 | |
Additions | 23 | 182 | |
Disposals | (99) | ||
Depreciation | (55) | (63) | |
Exchange rate variation | (33) | (5) | |
Closing net book amount | 179 | 244 | 229 |
Cost | 430 | 457 | |
Accumulated depreciation | (251) | (213) | |
Net book amount | 179 | 244 | 229 |
Computer Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Opening net book amount | 18 | 225 | |
Additions | 423 | 292 | |
Disposals | (148) | ||
Depreciation | (444) | (372) | |
Exchange rate variation | 17 | 21 | |
Closing net book amount | 14 | 18 | 225 |
Cost | 1,707 | 1,403 | |
Accumulated depreciation | (1,693) | (1,384) | |
Net book amount | 14 | 18 | 225 |
Leasehold Improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Opening net book amount | 1,783 | 1,877 | |
Additions | 236 | 381 | |
Depreciation | (609) | (652) | |
Exchange rate variation | (113) | 177 | |
Closing net book amount | 1,297 | 1,783 | 1,877 |
Cost | 3,464 | 3,524 | |
Accumulated depreciation | (2,167) | (1,741) | |
Net book amount | 1,297 | 1,783 | $ 1,877 |
Construction in Progress [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Opening net book amount | 0 | ||
Additions | 5,929 | ||
Closing net book amount | 5,929 | 0 | |
Cost | 5,929 | ||
Net book amount | $ 5,929 | $ 0 |
Property, Plant and Equipment_2
Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation expense | $ 2,198 | $ 2,312 | $ 1,309 |
Accounts Payable - Summary of A
Accounts Payable - Summary of Accounts Payable (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Current liabilities | ||
Trade payables | $ 31,041 | $ 10,982 |
Accrued expenses | 1,461 | 1,270 |
Other payables | 6,385 | 3,894 |
Sales tax payable | 8,623 | 965 |
Related party payables | 93 | 24 |
Total accounts payable | $ 47,603 | $ 17,135 |
Borrowings - Schedule Of Debt (
Borrowings - Schedule Of Debt (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 |
Current liabilities | |||
Convertible notes | $ 0 | $ 36,546 | |
Other borrowings | 74 | 25 | |
Total current borrowings | 74 | 36,571 | |
Non-current liabilities | |||
Interest-bearing borrowings | 88,269 | 38,350 | |
Related party borrowings | 0 | 6,392 | |
Borrowing costs | 0 | (981) | |
Total non-current borrowings | 88,269 | 43,761 | |
Total borrowings | $ 88,343 | $ 80,332 | $ 35,543 |
Borrowings - Schedule of Tabul
Borrowings - Schedule of Tabular Form Of Movements In Long Term Debt (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Schedule Of Debt [Line Items] | ||
Opening Balance | $ 80,332 | $ 35,543 |
Drawdowns of facilities | 117,527 | 32,493 |
Transaction costs paid | (3,888) | 0 |
Issuance costs of borrowings capitalised | 0 | 286 |
Repayment of borrowings (inclusive of prepayment fee) | (72,407) | 0 |
Accrued Interest | 12,761 | 8,273 |
Conversion of convertible notes | (42,570) | 0 |
Credit card borrowings | 49 | 10 |
Foreign currency translations movements | (3,461) | 3,727 |
Closing Balance | $ 88,343 | $ 80,332 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) $ in Thousands | 2 Months Ended | 6 Months Ended | 10 Months Ended | 12 Months Ended | ||||||||||
May 11, 2022 USD ($) | Jan. 13, 2022 USD ($) shares | Jul. 22, 2021 USD ($) | May 31, 2021 USD ($) | Apr. 30, 2021 USD ($) | May 05, 2020 USD ($) | Jun. 30, 2020 USD ($) | Jun. 30, 2021 USD ($) | Nov. 05, 2022 | Jun. 30, 2022 USD ($) | Jun. 30, 2020 USD ($) | Jul. 13, 2022 USD ($) | Dec. 07, 2021 USD ($) shares | Dec. 06, 2021 USD ($) | |
Debt Instrument [Line Items] | ||||||||||||||
Proceeds from senior debt | $ 117,527 | $ 33,029 | ||||||||||||
Repayment of senior debt | 77,351 | 12,392 | ||||||||||||
Proceeds from related party debt | $ 5,150 | |||||||||||||
Repayment of borrowings - related parties | 6,414 | |||||||||||||
Stock issued during the period value conversion of convertible securities | $ 42,570 | |||||||||||||
Senior Note Loan Agreement [Member] | Amended Senior Note Loan Subscription Agreement [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Repayment of senior debt | $ 77,400 | |||||||||||||
Senior Notes [Member] | Senior Note Loan Agreement [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Proceeds from senior debt | $ 33,800 | |||||||||||||
Senior Notes [Member] | Senior Note Loan Agreement [Member] | Amended Senior Note Loan Subscription Agreement [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Proceeds from senior debt | $ 29,000 | |||||||||||||
Long Term Debt Coupon Interest Rate Percentage | 11% | 11% | 11% | 11% | ||||||||||
Senior Notes [Member] | CIGNA Loan Agreement [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument face value | $ 66,000 | |||||||||||||
Senior Notes [Member] | CIGNA Loan Agreement [Member] | CIGNA Loan Amendment Agreement One [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument face value | $ 90,000 | |||||||||||||
Long term debt term | 3 years | |||||||||||||
Minimum cash to be maintained till the consummation of business combination | $ 50,000 | |||||||||||||
Minimum Cash To Be Maintained As And When Additional Funds Are Received | $ 65,000 | |||||||||||||
Senior Notes [Member] | CIGNA Loan Agreement [Member] | CIGNA Loan Amendment Agreement One [Member] | Subsequent Event [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Liquidity to be maintained as part of debt covenant | $ 25,000 | |||||||||||||
Senior Notes [Member] | CIGNA Loan Agreement [Member] | CIGNA Loan Amendment Agreement One [Member] | As Of Thirty First March Two Thousand And Twenty Three [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt equity ratio | 3.5 | |||||||||||||
Senior Notes [Member] | CIGNA Loan Agreement [Member] | CIGNA Loan Amendment Agreement One [Member] | As Of Thirtieth June Two Thousand And Twenty Three [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt equity ratio | 3 | |||||||||||||
Senior Notes [Member] | CIGNA Loan Agreement [Member] | CIGNA Loan Amendment Agreement One [Member] | As Of Thirtieth September Two Thousand And Twenty Three [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt equity ratio | 2.75 | |||||||||||||
Senior Notes [Member] | CIGNA Loan Agreement [Member] | CIGNA Loan Amendment Agreement One [Member] | After Thirtieth September Two Thousand And Twenty Three [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt equity ratio | 2.5 | |||||||||||||
Senior Notes [Member] | CIGNA Loan Agreement [Member] | CIGNA Loan Amendment Agreement One [Member] | Period Ending Thirty First Of March Two Thousand And Twenty Three [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt Instrument Interest Coverage Ratio | 2 | |||||||||||||
Senior Notes [Member] | CIGNA Loan Agreement [Member] | CIGNA Loan Amendment Agreement One [Member] | After Thirty First Of March Two Thousand And Twenty Three [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt Instrument Interest Coverage Ratio | 3 | |||||||||||||
Senior Notes [Member] | CIGNA Loan Agreement [Member] | CIGNA Loan Amendment Agreement One [Member] | Contingent Right To Subscribe For Ordinary Shares [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Common stock shares subscribed but not issued shares | shares | 7,500,000 | |||||||||||||
Common stock shares subscribed but not issued value | $ 45,000 | |||||||||||||
Senior Notes [Member] | CIGNA Loan Agreement [Member] | CIGNA Loan Amendment Agreement One [Member] | Commitement Fees [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt issuance costs gross | 900 | |||||||||||||
Senior Notes [Member] | CIGNA Loan Agreement [Member] | CIGNA Loan Amendment Agreement One [Member] | Establishment Fees [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt issuance costs gross | 2,300 | |||||||||||||
Senior Notes [Member] | CIGNA Loan Agreement [Member] | CIGNA Loan Amendment Agreement One [Member] | Exit Fee [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt issuance costs gross | $ 2,300 | |||||||||||||
NAB Facility [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5,500 | |||||||||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 3,300 | |||||||||||||
Line of Credit Facility, Interest Rate During Period | 100% | |||||||||||||
St Bakers Energy Holdings Pty Limited [Member] | Shareholder Loan Agreement [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Proceeds from related party debt | $ 5,600 | |||||||||||||
Notes payable related party | $ 6,400 | $ 5,200 | ||||||||||||
Related party transaction coupon rate of interest | 11% | 11% | 11% | |||||||||||
Repayment of borrowings - related parties | $ 6,500 | |||||||||||||
St Bakers Energy Holdings Pty Limited [Member] | Inventory [Member] | Shareholder Loan Agreement [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument collateral amount | $ 30,400 | $ 40,600 | $ 30,400 | |||||||||||
Mandatorily Convertible Debt [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Proceeds from short term debt | $ 32,600 | |||||||||||||
Stock issued during the period value conversion of convertible securities | $ 42,600 | |||||||||||||
Mandatorily Convertible Debt [Member] | January Two Thousand And Twenty One [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt Instrument Discount Percentage At The Time Of Conversion | 30% | |||||||||||||
Stock issued during the period shares conversion of convertible securities | shares | 1,704,632 | |||||||||||||
Mandatorily Convertible Debt [Member] | May Two Thousand And Twenty One [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt Instrument Discount Percentage At The Time Of Conversion | 20% | |||||||||||||
Stock issued during the period shares conversion of convertible securities | shares | 1,209,290 |
Fair Value measurements - Summa
Fair Value measurements - Summary Of Assets And Liabilities That Were Measured At Fair Value On A Recurring Basis (Detail) - Fair Value, Recurring [Member] - Warrant [Member] $ in Thousands | Jun. 30, 2022 USD ($) |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |
Fair value measured | $ 12,340 |
Level 1 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |
Fair value measured | 12,019 |
Level 2 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |
Fair value measured | 321 |
Level 3 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |
Fair value measured | 0 |
Common stock Public warrant liabilities [Member] | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |
Fair value measured | 12,019 |
Common stock Public warrant liabilities [Member] | Level 1 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |
Fair value measured | 12,019 |
Common stock Private warrant liabilities [Member] | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |
Fair value measured | 321 |
Common stock Private warrant liabilities [Member] | Level 2 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |
Fair value measured | $ 321 |
Fair Value measurement - Summar
Fair Value measurement - Summary Of Changes In The Fair Value (Detail) $ in Thousands | 12 Months Ended |
Jun. 30, 2022 USD ($) shares | |
Disclosure In Tabular Form Of Summary Of Changes In Fair Value Of Warrant Liability [Line Items] | |
Beginning balance Shares | shares | 0 |
Beginning balance | $ 0 |
Warrants liability assumed in Business Combination shares | shares | 21,783,259 |
Warrants liability assumed in Business Combination | $ 32,240 |
Reclassification of warrants to stockholders' deficit due to exercise shares | shares | (12,504,982) |
Reclassification of warrants to stockholders' deficit due to exercise | $ (23,391) |
Change in fair value | 3,491 |
Ending balance | $ 12,340 |
Ending balance shares | shares | 9,278,277 |
Public Warrants [Member] | |
Disclosure In Tabular Form Of Summary Of Changes In Fair Value Of Warrant Liability [Line Items] | |
Beginning balance Shares | shares | 0 |
Beginning balance | $ 0 |
Warrants liability assumed in Business Combination shares | shares | 13,416,592 |
Warrants liability assumed in Business Combination | $ 19,857 |
Reclassification of warrants to stockholders' deficit due to exercise shares | shares | (4,379,462) |
Reclassification of warrants to stockholders' deficit due to exercise | $ (11,364) |
Change in fair value | 3,526 |
Ending balance | $ 12,019 |
Ending balance shares | shares | 9,037,130 |
Private Warrants [Member] | |
Disclosure In Tabular Form Of Summary Of Changes In Fair Value Of Warrant Liability [Line Items] | |
Beginning balance Shares | shares | 0 |
Beginning balance | $ 0 |
Warrants liability assumed in Business Combination shares | shares | 8,366,667 |
Warrants liability assumed in Business Combination | $ 12,383 |
Reclassification of warrants to stockholders' deficit due to exercise shares | shares | (8,125,520) |
Reclassification of warrants to stockholders' deficit due to exercise | $ (12,027) |
Change in fair value | (35) |
Ending balance | $ 321 |
Ending balance shares | shares | 241,147 |
Employee Benefits - Schedule Of
Employee Benefits - Schedule Of Employee Benefits (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Current liabilities | ||
Annual leave | $ 2,345 | $ 1,859 |
Long service leave | 308 | 178 |
Total current employee benefits | 2,653 | 2,037 |
Non-current liabilities | ||
Long service leave | 217 | 125 |
Total employee benefits | $ 2,870 | $ 2,162 |
Other Liabilities - Summary of
Other Liabilities - Summary of Other Liabilities (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Other Liabilities, Current [Abstract] | ||
Insurance and other liabilities | $ 1,769 | $ 90 |
Cash settled employee liabilities | 152 | 5,345 |
Deferred fulfillment liabilities | 432 | 432 |
Commissions | 586 | 234 |
Total current other liabilities | $ 2,939 | $ 6,101 |
Other Provisions - Summary of O
Other Provisions - Summary of Other Provisions (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Current liabilities | ||
Warranties | $ 1,326 | $ 1,384 |
Legal Provisions | 126 | 326 |
Bonus Provision | 1,028 | 627 |
Transaction and offering related fees | 25,143 | 3,012 |
Total other provisions – current | 27,623 | 5,349 |
Non-current liabilities | ||
Warranties | 2,652 | 2,541 |
Total other provisions | $ 30,275 | $ 7,890 |
Other Provisions - Summary of P
Other Provisions - Summary of Provision For Warranties (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Provision For Warranties [Abstract] | ||
Opening balance of warranties – July 1 | $ 3,925 | $ 3,570 |
Warranty utilized during the year | (3,295) | (2,308) |
Provision created during the year | 3,656 | 2,329 |
Foreign currency translation adjustment | (308) | 334 |
Closing balance of provision for warranties – June 30 | $ 3,978 | $ 3,925 |
Right of Use Assets and Lease_3
Right of Use Assets and Lease Liabilities - Summary of Operating Leases (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Leases [Abstract] | ||
Total right of use assets, net | $ 24,640 | $ 18,312 |
Lease liabilities | ||
Current lease liabilities | 4,020 | 2,941 |
Non-current lease liabilities | 25,556 | 17,660 |
Total lease liabilities | $ 29,576 | $ 20,601 |
Right of Use Assets and Lease_4
Right of Use Assets and Lease Liabilities - Summary of The Maturity of The Lease Payments (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Lessee, Operating Lease, Liability, to be Paid [Abstract] | ||
June 30, 2023 | $ 3,942 | |
June 30, 2024 | 3,853 | |
June 30, 2025 | 4,155 | |
June 30, 2026 | 4,379 | |
June 30, 2027 | 4,433 | |
Thereafter | 12,049 | |
Total minimum lease payments | 32,811 | |
Less amount representing interest | (3,235) | |
Present value of lease liabilities | 29,576 | $ 20,601 |
Less: current portion | (4,020) | |
Long term portion of lease liabilities | $ 25,556 | $ 17,660 |
Right of Use Assets and Lease_5
Right of Use Assets and Lease Liabilities - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Right Of Use Assets And Lease Liabilities [Line Items] | |||
Operating lease payments | $ 2,600 | $ 1,100 | $ 1,800 |
Short term lease cost | $ 10 | $ 10 | $ 10 |
Operating lease weighted average discount rate percent | 2.72% | 1.45% | 3.12% |
Operating lease weighted average remaining lease term | 7 years 2 months 12 days | 7 years 4 months 24 days | 7 years 4 months 24 days |
Contract Liabilities - Summary
Contract Liabilities - Summary of Contract With Customer Liability (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Current liabilities | ||
Contract with customer, liability, current | $ 37,727 | $ 9,198 |
Non-current liabilities | ||
Contract with customer, liability, noncurrent | 2,231 | 1,618 |
Total contract liabilities | 39,958 | 10,816 |
Customer advance deposits [Member] | ||
Current liabilities | ||
Contract with customer, liability, current | 33,508 | 6,561 |
Non-current liabilities | ||
Contract with customer, liability, noncurrent | 847 | 0 |
Unearned revenue [Member] | ||
Current liabilities | ||
Contract with customer, liability, current | 4,219 | 2,637 |
Non-current liabilities | ||
Contract with customer, liability, noncurrent | $ 1,384 | $ 1,618 |
Segment Reporting - Summary of
Segment Reporting - Summary of Revenue by Group's Reportable Segments (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Segment Reporting Information [Line Items] | |||
Revenue | $ 85,821 | $ 56,157 | $ 46,969 |
Cost of goods sold | (86,161) | (58,061) | (47,943) |
Net (loss) | (340) | (1,904) | (974) |
Hardware | |||
Segment Reporting Information [Line Items] | |||
Revenue | 80,832 | 53,562 | 41,478 |
Cost of goods sold | (82,383) | (55,188) | (45,805) |
Net (loss) | (1,551) | (1,626) | (4,327) |
Service And Maintenance | |||
Segment Reporting Information [Line Items] | |||
Revenue | 4,989 | 2,595 | 5,491 |
Cost of goods sold | (3,778) | (2,873) | (2,138) |
Net (loss) | 1,211 | (278) | 3,353 |
Stand Alone | Hardware | |||
Segment Reporting Information [Line Items] | |||
Revenue | 52,072 | 20,084 | 13,817 |
Cost of goods sold | (51,907) | (21,099) | (13,682) |
Net (loss) | 165 | (1,015) | 135 |
Distributed Chargers | Hardware | |||
Segment Reporting Information [Line Items] | |||
Revenue | 26,603 | 32,974 | 27,431 |
Cost of goods sold | (28,597) | (33,718) | (31,867) |
Net (loss) | (1,994) | (744) | (4,436) |
Other | Hardware | |||
Segment Reporting Information [Line Items] | |||
Revenue | 2,157 | 504 | 230 |
Cost of goods sold | (1,879) | (371) | (256) |
Net (loss) | $ 278 | $ 133 | $ (26) |
Segment Reporting - Summary o_2
Segment Reporting - Summary of Reconciliation of Loss from Operations and Segment Gross Margin (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Revenue | $ 85,821 | $ 56,157 | $ 46,969 |
Cost of goods sold | (86,161) | (58,061) | (47,943) |
Segment gross (loss) | (340) | (1,904) | (974) |
Selling, general and administration expense | 74,323 | 31,624 | 23,615 |
Product development expense | 14,031 | 10,521 | 9,548 |
Foreign exchange gain/(loss) | (4,208) | (1,436) | (231) |
Total operating costs and expenses | $ (92,562) | $ (43,581) | $ (33,394) |
Segment gross margin | (0.40%) | (3.40%) | (2.10%) |
Segment Reconciling Items [Member] | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Revenue | $ 85,821 | $ 56,157 | $ 46,969 |
Cost of goods sold | (86,161) | (58,061) | (47,943) |
Segment gross (loss) | (340) | (1,904) | (974) |
Selling, general and administration expense | (74,323) | (31,624) | (23,615) |
Product development expense | (14,031) | (10,521) | (9,548) |
Foreign exchange gain/(loss) | (4,208) | (1,436) | (231) |
Total operating costs and expenses | $ (92,562) | $ (43,581) | $ (33,394) |
Segment Reporting - Summary o_3
Segment Reporting - Summary of Revenue and Long-Lived Assets by Geographic Area (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenue | $ 85,821 | $ 56,157 | $ 46,969 |
Long-lived assets | 35,791 | 24,001 | |
Australia | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenue | 12,735 | 5,044 | 10,420 |
Long-lived assets | 18,709 | 16,138 | |
United States | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenue | 33,174 | 12,730 | 5,802 |
Long-lived assets | 16,290 | 2,754 | |
The Netherlands | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenue | 39,912 | 38,383 | $ 30,747 |
Long-lived assets | $ 792 | $ 5,109 |
Segment Reporting - Additional
Segment Reporting - Additional Information (Detail) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 USD ($) Segments | Jun. 30, 2021 USD ($) | Jun. 30, 2020 USD ($) | |
Segment Reporting Information [Line Items] | |||
Revenues | $ 85,821 | $ 56,157 | $ 46,969 |
Number of operating segments | Segments | 7 | ||
Revenue Benchmark | Customer Concentration Risk | One Customer | |||
Segment Reporting Information [Line Items] | |||
Revenues | $ 13,000 | $ 17,000 | $ 17,100 |
Concentration risk percentage | 15% |
Loss Per Share - Schedule of Ea
Loss Per Share - Schedule of Earnings Per Share, Basic and Diluted (Detail) - USD ($) | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Basic and diluted loss per share | |||
Net (loss) attributable to common shareholders | $ (127,562,000) | $ (63,091,853) | $ (34,444,303) |
Weighted Average Number of Shares Outstanding, Basic [Abstract] | |||
Weighted average number of shares – Basic | 126,814,171 | 99,915,563 | 97,565,239 |
Weighted average number of shares – Diluted | 126,814,171 | 99,915,563 | 97,565,239 |
Basic net loss per share | $ (1.01) | $ (0.58) | $ (0.33) |
Diluted net loss per share | (1.01) | $ (0.58) | $ (0.33) |
Legacy Tritium Class C Shares [Member] | |||
Weighted Average Number of Shares Outstanding, Basic [Abstract] | |||
Weighted average number of shares – Basic | 8,047,417 | 8,047,417 | |
Weighted average number of shares – Diluted | 8,047,417 | 8,047,417 | |
Basic net loss per share | 0 | $ (0.58) | $ (0.33) |
Diluted net loss per share | $ 0 | $ (0.58) | $ (0.33) |
Previously Reported | |||
Basic and diluted loss per share | |||
Net (loss) attributable to common shareholders | $ (58,389,069) | $ (31,819,734) | |
Weighted Average Number of Shares Outstanding, Basic [Abstract] | |||
Weighted average number of shares – Basic | 67,892,971 | 66,295,918 | |
Weighted average number of shares – Diluted | 67,892,971 | 66,295,918 | |
Basic net loss per share | $ (0.86) | $ (0.48) | |
Diluted net loss per share | $ (0.86) | $ (0.48) | |
Previously Reported | Legacy Tritium Class C Shares [Member] | |||
Basic and diluted loss per share | |||
Net (loss) attributable to common shareholders | $ (4,702,784) | $ (2,624,569) | |
Weighted Average Number of Shares Outstanding, Basic [Abstract] | |||
Weighted average number of shares – Basic | 5,468,249 | 5,468,249 | |
Weighted average number of shares – Diluted | 5,468,249 | 5,468,249 | |
Basic net loss per share | $ (0.86) | $ (0.48) | |
Diluted net loss per share | $ (0.86) | $ (0.48) |
Loss Per Share - Additional Inf
Loss Per Share - Additional Information (Detail) | Jan. 13, 2022 |
Earnings Per Share [Abstract] | |
Merger Agreement Share Conversion Ratio | 1.4716625 |
Share Options Outstanding - Sum
Share Options Outstanding - Summary Of Share Options Outstanding (Detail) - $ / shares | 12 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | |
Long Term Incentive Plan [Member] | ||||
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | ||||
Average weighted life contractually remaining, options granted | 3 months | |||
Average weighted life contractually remaining, ending balance | 3 months | |||
average weighted fair value, options granted | $ 6.17 | |||
Average weighted fair value, options exercised | 0 | |||
Average weighted fair value, options cancelled | 0 | |||
Average weighted fair value, ending balance | 6.19 | |||
Average weighted exercise price, options granted | 0 | |||
Average weighted exercise price, options excercised | 0 | |||
Average weighted exercise price, options cancelled | 0 | |||
Average weighted exercise price, ending balance | $ 0 | |||
Number of shares, options granted | 1,328,758 | |||
Number of shares, optons excercised | 0 | |||
Number of shares, options cancelled | 0 | |||
Number of shares, ending balance | 1,328,758 | |||
Loan Funded Share Plan [Member] | ||||
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | ||||
Average weighted life contractually remaining | 4 years 2 months 4 days | 4 years 9 months 25 days | 5 years 9 months 25 days | |
Average weighted life contractually remaining, options granted | 7 years | |||
Average weighted life contractually remaining, options modified | 4 years 5 months 1 day | |||
Average weighted life contractually remaining, ending balance (vested and exercisable) | 4 years 2 months 4 days | 5 years 3 months 21 days | ||
Average weighted fair value, beginning balance of shares subject to options | $ 1.44 | $ 1.44 | ||
verage weighted fair value, beginning balance (vested and exercisable) | $ 1.19 | 1.36 | ||
average weighted fair value, options granted | 1.31 | |||
Average weighted fair value, options modified | 1.55 | |||
Average weighted fair value, ending balance of shares subject to options | 0.82 | 1.44 | $ 1.44 | |
Average weighted exercise price, beginning balance | 2.6 | 2.6 | ||
Average weighted exercise price, beginning balance (vested and exercisable) | 3.78 | 3.74 | ||
Average weighted exercise price, options granted | 4.44 | |||
Average weighted exercise price, options modified | 3.69 | |||
Average weighted exercise price, ending balance | 2.6 | |||
Average weighted exercise price, ending balance (vested and exercisable) | $ 2.6 | $ 3.78 | $ 3.74 | |
Number of shares, beginning balance of shares subject to options | 2,055,828 | 2,055,828 | ||
Number of shares, beginning balance (vested and exercisable) | 2,854,168 | 5,361,826 | ||
Number of shares, options granted | 3,305,998 | |||
Number of shares, options modified | (2,507,658) | |||
Number of shares, converted to tritium DCFC shares | 4,200,371 | |||
Number of shares, ending balance of shares subject to options | 4,200,371 | 2,055,828 | 2,055,828 | |
Number of shares, ending balance (vested and exercisable) | 4,200,371 | 2,854,168 | 5,361,826 |
Share Options Outstanding - S_2
Share Options Outstanding - Summary Of Share Appreciation Rights Outstanding (Detail) - Stock Appreciation Rights (SARs) [Member] | 12 Months Ended | |||
Jun. 30, 2022 $ / shares shares | Jun. 30, 2021 $ / shares shares | Jun. 30, 2021 $ / shares shares | Jun. 30, 2020 $ / shares shares | |
Schedule Of Share Based Compensation Stock Appreciation Rights Award Activity [Line Items] | ||||
Balance of shares subject to options at beginning of year - Weighted average fair value of the rights | $ / shares | $ 8.74 | $ 2.46 | $ 2.46 | |
Rights granted -Weighted average fair value of the rights | $ / shares | 8.76 | 0 | ||
Balance at reporting date - Weighted average fair value of the rights | $ / shares | $ 8.74 | $ 2.46 | ||
Converted to DCFC Shares-Weighted average fair value of the rights | $ / shares | $ 10 | |||
Balance of shares subject to options at beginning of year | 1,611,528 | 27,451 | 27,451 | 27,451 |
Rights granted - No of shares | 100,000 | 1,584,077 | 1,584,077 | 0 |
Rights exercised - No of shares | (1,449,677) | |||
Balance at reporting date of shares | 261,851 | 1,611,528 | 1,611,528 | 27,451 |
Converted to DCFC Shares - No of shares | 326,211 |
Share Options Outstanding - Add
Share Options Outstanding - Additional Information (Detail) $ / shares in Units, $ in Thousands | 6 Months Ended | 7 Months Ended | 12 Months Ended | |||||||
Jun. 23, 2022 shares | Jun. 30, 2021 USD ($) | Jan. 31, 2022 | Jun. 30, 2022 USD ($) shares $ / shares | Jun. 30, 2021 USD ($) shares | Jun. 30, 2020 USD ($) $ / shares shares | Jun. 30, 2021 $ / shares | Jun. 30, 2020 $ / shares | Jun. 30, 2019 $ / shares | Jun. 30, 2019 $ / shares | |
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | ||||||||||
Borrowings net of unamortized issuance costs | $ 37,369 | $ 88,269 | $ 37,369 | |||||||
Equity settled share-based compensation expense | 12,339 | 3,122 | ||||||||
Share based compensation expense relating to option modification | 6,400 | |||||||||
FBT tax expense relating to option modification | 5,600 | |||||||||
Cash settled share-based compensation expense | 15,849 | 5,249 | ||||||||
Cash settled share based compensation liability | 200 | |||||||||
Share based compensation total benefit | 21,600 | |||||||||
Share based payment arrangement, expense | $ 400 | $ 5,200 | ||||||||
Share based compensation arrangement by share based payment award vesting date | Jun. 23, 2025 | |||||||||
Stock Appreciation Rights (SARs) [Member] | ||||||||||
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | ||||||||||
Share based compensation arrangement by share based payment award vesting description | The share appreciation right vests upon the occurrence of an entitlement event or 7 years whichever is earlier. | |||||||||
Share-based compensation arrangement by share-based payment award, shares issued in period | shares | 1,584,077 | 27,451 | ||||||||
Weighted average fair value | $ / shares | $ 8.74 | $ 2.46 | $ 2.46 | |||||||
Performance Rights [Member] | ||||||||||
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | ||||||||||
Share-based compensation arrangement by share-based payment award, shares issued in period | shares | 1,400,000 | |||||||||
Weighted average fair value | $ / shares | $ 6.15 | |||||||||
Share based compensation arrangement by share based payment award vesting date | Oct. 14, 2022 | |||||||||
Share based compensation arrangement by share based payment award options outstanding weighted average grant date fair value | $ / shares | $ 0 | |||||||||
Loan Funded Share Plan [Member] | ||||||||||
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | ||||||||||
Equity settled share-based compensation expense | $ 15,000 | |||||||||
Share-based payment arrangement, nonvested award, cost not yet recognized, amount | 9,600 | 9,600 | ||||||||
Share-based payment arrangement, expense, tax benefit | 0 | |||||||||
Share based compensation expense recognized as part of assets | 0 | 0 | ||||||||
Share based compensation arrangement by share based payment award options outstanding weighted average grant date fair value | $ / shares | $ 0.82 | $ 1.44 | $ 1.44 | |||||||
Shadow Equity Plan [Member] | ||||||||||
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | ||||||||||
Equity settled share-based compensation expense | 10,600 | |||||||||
Share-based payment arrangement, nonvested award, cost not yet recognized, amount | 5,200 | 5,200 | ||||||||
Share-based payment arrangement, expense, tax benefit | 0 | |||||||||
Share based compensation expense recognized as part of assets | 0 | 0 | ||||||||
Entitlement event expected timing period | 7 months | |||||||||
Cash settled share-based compensation expense | $ 5,400 | |||||||||
Issuance of DCFC Common Stock related to the Shadow Equity Plan | shares | 1,175,601 | |||||||||
Cash settled share based compensation liability | 5,300 | $ 200 | $ 5,300 | |||||||
Limited Recourse Loans Payable [Member] | ||||||||||
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | ||||||||||
Long term debt term | 7 years | |||||||||
Borrowings net of unamortized issuance costs | $ 15,000 | $ 15,000 | $ 3,700 | |||||||
Debt instrument conversion factor | shares | 1.4716625 |
Fair Valuation of Share-Based_3
Fair Valuation of Share-Based Compensation - Summary Of Weighted Average Fair Value For Share Options Outstanding (Detail) - Employee Stock Option | 12 Months Ended | ||||||
Jun. 30, 2022 $ / shares | Jun. 30, 2022 $ / shares $ / shares | Jun. 30, 2021 $ / shares | Jun. 30, 2020 $ / shares | Jun. 30, 2022 USD ($) $ / shares | Jun. 30, 2021 USD ($) | Jun. 30, 2020 USD ($) | |
Loan Funded Share Plan | |||||||
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Line Items] | |||||||
Risk free interest rate | 1.56% | 1.56% | 1.59% | 2.18% | |||
Expected term | 6 months | 6 months | 1 year 6 months | 2 years 6 months | |||
Expected volatility | 60% | 60% | 60% | 40% | |||
Dividend yield | 0% | 0% | 0% | 0% | |||
Grant value fair value per share | $ 1.19 | $ 1.36 | $ 1.44 | ||||
Share price | $ 3.78 | $ 3.78 | $ 3.74 | $ 2.6 | |||
Aggregate intrinsic value of shares vested and not yet exercised (USD) | $ | $ 524,983 | $ 2,835,795 | $ 2,605,641 | ||||
Long Term Incentive Plan | |||||||
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Line Items] | |||||||
Risk free interest rate | 2.68% | 2.68% | |||||
Expected term | 3 years | 3 years | |||||
Expected volatility | 80% | 80% | |||||
Dividend yield | 0% | 0% | |||||
Grant value fair value per share | $ 6.17 | ||||||
Share price | $ 6.17 | ||||||
Aggregate intrinsic value of shares vested and not yet exercised (USD) | $ | $ 0 |
Fair Valuation of Share-Based_4
Fair Valuation of Share-Based Compensation - Share-Based Payment Arrangement, Stock Appreciation Right, Activity (Detail) - Shadow Equity Plan - Stock Appreciation Rights (SARs) - $ / shares | 12 Months Ended | ||
Jan. 14, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Schedule Of Share Based Compensation Stock Appreciation Rights Award Activity [Line Items] | |||
Risk free interest rate | 0.05% | 0.04% | 0.04% |
Expected term | 0 years | 7 months 6 days | 1 year 7 months 6 days |
Expected volatility | 60% | 60% | 60% |
Dividend yield | 0% | 0% | 0% |
Indicative share price | $ 20.94 | $ 12.13 | $ 4.44 |
Offer value | $ 3.4 | $ 3.4 | $ 4.44 |
Commitments and Contingent Li_2
Commitments and Contingent Liabilities - Additional Information (Detail) - USD ($) | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 |
Commitments and Contingencies Disclosure [Abstract] | |||
Business combination, contingent consideration, liability | $ 0 | ||
Contractual obligation | $ 0 | $ 0 | $ 0 |
Related Party Disclosures -Summ
Related Party Disclosures -Summary Of Related Party Transactions (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Related Party Transaction [Line Items] | |||
Accounts receivable | $ 16 | $ 2,991 | |
Loan payable | 93 | 24 | |
Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Accounts receivable | 16 | 2,991 | $ 3,888 |
Purchase | 683 | 591 | 195 |
Accounts payable | 93 | 165 | 20 |
Loan payable | 6,392 | 5,240 | |
Gilbarco | Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Accounts receivable | 2,471 | 3,510 | |
Purchase | 338 | 335 | 1 |
Accounts payable | 142 | ||
Loan payable | |||
Fast Cities Australia | Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Accounts receivable | 16 | 520 | 378 |
Purchase | |||
Accounts payable | |||
Loan payable | |||
St Baker Energy | Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Accounts receivable | |||
Purchase | 345 | 256 | 194 |
Accounts payable | 93 | 23 | 20 |
Loan payable | 6,392 | 5,240 | |
Hardware | Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Hardware revenue | 11,589 | 21,263 | 6,402 |
Hardware | Gilbarco | Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Hardware revenue | 8,135 | 19,122 | 6,402 |
Hardware | Fast Cities Australia | Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Hardware revenue | 3,454 | 2,141 | |
Hardware | St Baker Energy | Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Hardware revenue | |||
Service And Maintenance | Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Hardware revenue | 1 | 983 | |
Service And Maintenance | Gilbarco | Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Hardware revenue | 2 | ||
Service And Maintenance | Fast Cities Australia | Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Hardware revenue | 1 | 981 | |
Service And Maintenance | St Baker Energy | Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Hardware revenue |
Related Party Disclosures - Add
Related Party Disclosures - Additional Information (Detail) | 12 Months Ended |
Jun. 30, 2022 | |
Fast Cities Australia | |
Related Party Transaction [Line Items] | |
Accounts receivable due, payable period | 30 days |
Tritium DCFC Limited and Cont_3
Tritium DCFC Limited and Controlled Entities - Summary Of Controlled Entities (Detail) | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Australia | Tritium Holdings Pty Ltd | |||
Business Acquisition [Line Items] | |||
Controlled entities, Ownership interest | 100% | 100% | 100% |
Controlled entities, Place of incorporation | Australia | ||
Australia | Tritium Pty Ltd | |||
Business Acquisition [Line Items] | |||
Controlled entities, Ownership interest | 100% | 100% | 100% |
Controlled entities, Place of incorporation | Australia | ||
Australia | Tritium Nominee Pty Ltd | |||
Business Acquisition [Line Items] | |||
Controlled entities, Ownership interest | 100% | 100% | 100% |
Controlled entities, Place of incorporation | Australia | ||
United States | Decarbonization Plus Acquisition Corporation II | |||
Business Acquisition [Line Items] | |||
Controlled entities, Ownership interest | 100% | ||
Controlled entities, Place of incorporation | United States of America | ||
United States | Tritium America Corporation | |||
Business Acquisition [Line Items] | |||
Controlled entities, Ownership interest | 100% | 100% | 100% |
Controlled entities, Place of incorporation | United States of America | ||
United States | Tritium Technologies LLC | |||
Business Acquisition [Line Items] | |||
Controlled entities, Ownership interest | 100% | 100% | 100% |
Controlled entities, Place of incorporation | United States of America | ||
The Netherlands | Tritium Europe BV | |||
Business Acquisition [Line Items] | |||
Controlled entities, Ownership interest | 100% | 100% | 100% |
Controlled entities, Place of incorporation | The Netherlands | ||
The Netherlands | Tritium Technologies BV | |||
Business Acquisition [Line Items] | |||
Controlled entities, Ownership interest | 100% | 100% | 100% |
Controlled entities, Place of incorporation | The Netherlands | ||
The United Kingdom | Tritium Technologies Limited | |||
Business Acquisition [Line Items] | |||
Controlled entities, Ownership interest | 100% | 100% | |
Controlled entities, Place of incorporation | The United Kingdom |
Reverse Capitalization and Bu_3
Reverse Capitalization and Business Combination - Summary of Shares Outstanding Consummation of the Merger (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Jan. 13, 2022 | Jun. 30, 2022 | Jun. 30, 2020 | Jun. 30, 2021 | |
Disclosure In Tabular Form Of Shares Outstanding Following The Merger [Line Items] | ||||
Common stock shares outstanding | 148,893,898 | 99,915,561 | ||
Shares issued to legacy, Value | $ 49,962 | $ 23,910 | ||
DCRN | ||||
Disclosure In Tabular Form Of Shares Outstanding Following The Merger [Line Items] | ||||
Less redemption of DCRN shares, Shares | (34,931,806) | |||
Less redemption of DCRN shares, Value | ||||
Merger Agreement | DCRN | ||||
Disclosure In Tabular Form Of Shares Outstanding Following The Merger [Line Items] | ||||
Shared issued to legacy, Shares | 15,380,694 | 15,380,694 | ||
Less redemption of DCRN shares, Value | $ 349,300 | |||
Shares issued to legacy, Value | $ 53,183 | |||
Merger Agreement | Legacy Tritium | ||||
Disclosure In Tabular Form Of Shares Outstanding Following The Merger [Line Items] | ||||
DCFC shares issued to legacy Tritium stockholders, Shares | 120,000,000 | 120,000,000 | ||
DCFC shares issued to legacy Tritium stockholders, Value | $ 139,762 | |||
Merger Agreement | Private Investment In Public Equity Subscription Agreement | ||||
Disclosure In Tabular Form Of Shares Outstanding Following The Merger [Line Items] | ||||
Shared issued to legacy, Shares | 2,500,000 | 2,500,000 | ||
Shares issued to legacy, Value | $ 15,000 | $ 15,000 | ||
Before Merger | ||||
Disclosure In Tabular Form Of Shares Outstanding Following The Merger [Line Items] | ||||
Common stock shares outstanding | 50,312,500 | |||
Common Stock, Value | ||||
Issued To The Shareholders Of The Acquiree And In Private Placement | ||||
Disclosure In Tabular Form Of Shares Outstanding Following The Merger [Line Items] | ||||
Shared issued to legacy, Shares | 17,880,694 | |||
Shares issued to legacy, Value | $ 68,183 | |||
After Merger | ||||
Disclosure In Tabular Form Of Shares Outstanding Following The Merger [Line Items] | ||||
Common stock shares outstanding | 137,880,694 | |||
Common Stock, Value | $ 207,945 |
Reverse Capitalization and Bu_4
Reverse Capitalization and Business Combination - Summary of Fair Value of Net Assets of the Acquiree (Detail) - Merger Agreement - DCRN $ in Thousands | Jun. 30, 2022 USD ($) |
Disclosure In Tabular Form Of Fair Value Of Net Assets Of The Acquiree [Line Items] | |
DCRN net cash acquired | $ 53,183 |
DCRN historical accumulated losses | (51,598) |
DCRN transaction costs capitalised | (14,335) |
Conversion of DCRN Class A and Class B shares into DCFC Common Stock, representing the fair value of consideration issued in exchange of DCRN's common stock | $ (12,750) |
Reverse Capitalization and Bu_5
Reverse Capitalization and Business Combination - Summary of Historical Capital on Merger (Detail) - shares | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 |
Disclosure In Tabular Form Of Impact Of Historical Capital On Merger [Line Items] | ||||
Common shares | 148,893,898 | 99,915,561 | ||
Treasury shares | (4,200,371) | (7,890,800) | ||
Legacy Tritium Holdings | ||||
Disclosure In Tabular Form Of Impact Of Historical Capital On Merger [Line Items] | ||||
Common shares | 73,254,797 | 69,948,799 | 62,071,451 | |
Treasury shares | (5,361,826) | (2,055,828) | (2,055,828) | |
Tritium DCFC | ||||
Disclosure In Tabular Form Of Impact Of Historical Capital On Merger [Line Items] | ||||
Common shares | 107,806,361 | 102,941,047 | 91,348,247 | |
Treasury shares | (7,890,800) | (3,025,486) | (3,025,486) | |
Class C shares | Legacy Tritium Holdings | ||||
Disclosure In Tabular Form Of Impact Of Historical Capital On Merger [Line Items] | ||||
Common shares | 5,468,249 | 5,468,249 | 5,468,249 | |
Class C shares | Tritium DCFC | ||||
Disclosure In Tabular Form Of Impact Of Historical Capital On Merger [Line Items] | ||||
Common shares | 8,052,499 | 8,052,499 | 8,052,499 |
Reverse Capitalization and Bu_6
Reverse Capitalization and Business Combination - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Jan. 13, 2022 | Jun. 30, 2022 | Jun. 30, 2020 | |
Reverse Capitalization And Business Combination [Line Items] | |||
Stock issued during the period value new issues | $ 49,962 | $ 23,910 | |
Proceeds from merger net of redemptions | $ 68,200 | ||
DCRN | |||
Reverse Capitalization And Business Combination [Line Items] | |||
Stock redeemed during the period value | |||
Merger Agreement | |||
Reverse Capitalization And Business Combination [Line Items] | |||
Shares issued price per share | $ 10 | ||
Share exchange ratio | 1.471662 | ||
Adjustment to additional paid in capital transaction costs incurred | $ 16,700 | ||
Merger Agreement | Private Investment In Public Equity Subscription Agreement | |||
Reverse Capitalization And Business Combination [Line Items] | |||
Shares issued price per share | $ 6 | ||
Stock issued during the period shares new issues | 2,500,000 | 2,500,000 | |
Stock issued during the period value new issues | $ 15,000 | $ 15,000 | |
Proceeds from private placement | $ 15,000 | ||
Merger Agreement | DCRN | |||
Reverse Capitalization And Business Combination [Line Items] | |||
Stock issued during the period shares new issues | 15,380,694 | 15,380,694 | |
Stock issued during the period value new issues | $ 53,183 | ||
Proceeds from restricted investments | $ 53,200 | ||
Payment to redeem common stock | 349,300 | ||
Stock redeemed during the period value | $ 349,300 | ||
Merger Agreement | Legacy Tritium | |||
Reverse Capitalization And Business Combination [Line Items] | |||
Shares exchanged for shares in the new entity | 120,000,000 | 120,000,000 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - USD ($) $ in Millions | Sep. 02, 2022 | Jul. 13, 2022 | Jun. 30, 2022 |
Senior Debt Obligations | Cigna And Barrings | |||
Subsequent Event [Line Items] | |||
Debt instrument face value | $ 90 | ||
Equity Facility | B Riley Principal Capital Two LLC | |||
Subsequent Event [Line Items] | |||
Debt instrument face value | 75 | ||
First Amendment | Senior Debt Obligations | Cigna And Barrings | |||
Subsequent Event [Line Items] | |||
Liquidity to be maintained as part of debt covenant | $ 65 | ||
Subsequent Event | Senior Debt Obligations And Equity Facility | Cigna Bearings And B Riley Principal Capital Two LLC | |||
Subsequent Event [Line Items] | |||
Incremental debt capital commitement | $ 135 | ||
Subsequent Event | First Amendment | Senior Debt Obligations | Cigna And Barrings | |||
Subsequent Event [Line Items] | |||
Debt instrument face value | $ 60 | ||
Liquidity to be maintained as part of debt covenant | 25 | ||
Subsequent Event | Revised Total Facility After Amendment | Equity Facility | B Riley Principal Capital Two LLC | |||
Subsequent Event [Line Items] | |||
Debt instrument face value | $ 75 | ||
Subsequent Event | Revised Total Facility After Amendment | First Amendment | Senior Debt Obligations | Cigna And Barrings | |||
Subsequent Event [Line Items] | |||
Long term debt term | 3 years | ||
Subsequent Event | Revised Total Facility After Amendment | First Amendment | Senior Debt Obligations And Equity Facility | Cigna And Barrings | |||
Subsequent Event [Line Items] | |||
Cash coupon payable percentage rate | 8.50% | ||
Subsequent Event | Additional Debt Facility | First Amendment | Senior Debt Obligations | Cigna And Barrings | |||
Subsequent Event [Line Items] | |||
Debt instrument face value | $ 150 |