Recent Accounting Pronouncements (Tables)

9 Months Ended

Mar. 31, 2018

Accounting Changes And Error Corrections [Abstract]

Schedule of Adjustments to Previously Reported Financial Statements from Adoption of Accounting Pronouncements

The following table presents the effect of the adoption of Topic 606 on our condensed consolidated balance sheet (unaudited) as of June 30, 2017, (in thousands):

	As of June 30, 2017
	As Reported			Adjustment			As Adjusted
Accounts receivable, net	$	120,770		$	(27,655	)	$	93,115
Inventories		45,880			1,530			47,410
Total current assets		324,967			(26,125	)		298,842
Other assets		22,586			2,479			25,065
Total assets		483,346			(23,646	)		459,700
Accrued warranty		10,007			577			10,584
Other accrued liabilities		36,713			331			37,044
Deferred distributors revenue, net of cost of sales to distributors		43,525			(43,525	)		—
Total current liabilities		255,822			(42,617	)		213,205
Accumulated deficit		(800,257	)		18,971			(781,286	)
Total stockholders’ equity		106,707			18,971			125,678
Total liabilities and stockholders’ equity	$	483,346		$	(23,646	)	$	459,700

The following tables present the effect of the adoption of Topic 606 on our condensed consolidated statements of operations (unaudited) for the three and nine months ended March 31, 2017 (in thousands, except per share amounts):

	Three Months Ended March 31, 2017
	As Reported			Adjustment			As Adjusted
Net revenues
Product	$	110,789		$	532		$	111,321
Service		37,875			—			37,875
Total net revenues		148,664			532			149,196
Cost of revenues
Product		52,401			(126	)		52,275
Service		14,117			—			14,117
Total cost of revenues		66,518			(126	)		66,392
Gross profit
Product		58,388			658			59,046
Service		23,758			—			23,758
Total Gross profit		82,146			658			82,804
Sales and marketing expenses		38,759			31			38,790
Operating loss		(3,246	)		627			(2,619	)
Net loss before tax		(4,438	)		627			(3,811	)
Net loss	$	(5,604	)	$	627		$	(4,977	)
Basic and diluted net loss per share
Net loss per share - basic	$	(0.05	)				$	(0.05	)
Net loss per share - diluted	$	(0.05	)				$	(0.05	)
Shares used in per share calculation - basic		109,213						109,213
Shares used in per share calculation - diluted		109,213						109,213

	Nine Months Ended March 31, 2017
	As Reported			Adjustment			As Adjusted
Net revenues
Product	$	310,709		$	8,760		$	319,469
Service		108,708			—			108,708
Total net revenues		419,417			8,760			428,177
Cost of revenues
Product		155,987			3,164			159,151
Service		40,684			—			40,684
Total cost of revenues		196,671			3,164			199,835
Gross profit
Product		154,722			5,596			160,318
Service		68,024			—			68,024
Total Gross profit		222,746			5,596			228,342
Sales and marketing expenses		116,824			(150	)		116,674
Operating loss		(15,367	)		5,746			(9,621	)
Net loss before tax		(17,442	)		5,746			(11,696	)
Net loss	$	(20,694	)	$	5,746		$	(14,948	)
Basic and diluted net loss per share
Net loss per share - basic	$	(0.19	)				$	(0.14	)
Net loss per share - diluted	$	(0.19	)				$	(0.14	)
Shares used in per share calculation - basic		107,531						107,531
Shares used in per share calculation - diluted		107,531						107,531

The following tables present the effect of the adoption of Topic 606 on our condensed consolidated statement of cash flows (unaudited) for the nine months ended March 31, 2017 (in thousands):

	Nine Months Ended March 31, 2017
	As Reported			Adjustment			As Adjusted
Cash flows from operating activities
Net loss	$	(20,694	)	$	5,746		$	(14,948	)
Changes in operating assets and liabilities, net
Accounts receivable		(5,926	)		13,158			7,232
Inventories		6,344			(1,620	)		4,724
Prepaid expenses and other assets		8,181			(150	)		8,031
Deferred distributors revenue, net of cost of sales to distributors		17,441			(17,441	)		—
Other current and long-term liabilities		5,887			307			6,194
Net cash provided by operating activities		43,961			—			43,961
Cash flows from investing activities		(69,159	)		—			(69,159	)
Cash flows from financing activities		48,328			—			48,328
Foreign currency effect on cash		28			—			28
Net increase in cash and cash equivalents	$	23,158		$	—		$	23,158