Income Taxes (Tables)

12 Months Ended

Jun. 30, 2023

Income Taxes

Schedule of provision for income taxes

	For the Year ended June 30,
	2023		2022		2021
Current income taxes:
Federal	$	5,899	$	2,161	$	1,912
State		1,020		300		265
		6,919		2,461		2,177
Deferred income taxes:
Federal		(2,334)		(214)		337
State		(484)		—		—
		(2,818)		(214)		337
Provision for income taxes	$	4,101	$	2,247	$	2,514

Schedule of effective income tax rate reconciliation

	2023				2022				2021
			% of				% of				% of
			Pre-tax				Pre-tax				Pre-tax
	Amount		Income		Amount		Income		Amount		Income
Tax at Federal statutory rate	$	6,558	21.0	%	$	4,588	21.0	%	$	3,765	21.0	%
Increases (decreases) in taxes resulting from:
Meals and entertainment		48	0.2	%		29	0.1	%		29	0.2	%
State income taxes, net of Federal income tax benefit		436	1.4	%		238	1.1	%		135	0.8	%
Global intangible low-taxed income		2,739	8.8	%		1,697	7.8	%		1,706	9.5	%
R&D Credit		(661)	(2.1)	%		(554)	(2.5)	%		(523)	(2.9)	%
Foreign withholding tax		—	—	%		—	—	%		205	1	%
Foreign Source income not subject to Tax		(5,524)	(17.7)	%		(3,231)	(14.8)	%		(3,353)	(19)	%
Non-taxable debt extinguishment		—	—	%		(820)	(3.8)	%		—	—	%
Uncertain Tax Positions		63	0.2	%		20	0.1	%		312	1.7	%
IRS examination settlements		—	—	%		—	—	%		—	—	%
Other, net		442	1.4	%		280	1.3	%		238	1.3	%
Effective tax rate	$	4,101	13.1	%	$	2,247	10.3	%	$	2,514	14.0	%

Schedule of deferred tax assets and liabilities

	Deferred Tax Assets (Liabilities)
	2023		2022
Accounts receivable	$	22	$	42
Inventories		397		413
Accrued liabilities		857		454
Stock based compensation expense		250		179
Revenue reserves		333		466
Unrealized loss (gain) on marketable securities		124		90
Capitalized research and development cost		2,923		—
Other		4		—
Total Deferred Tax Assets	$	4,910	$	1,644
Valuation allowance		—		—
Deferred income tax assets, net of valuation allowance	$	4,910	$	1,644
Intangibles		(916)		(615)
Property, plant and equipment		(729)		(582)
Other deferred tax liabilities		(613)		(613)
Total Deferred Tax Liability	$	(2,258)	$	(1,810)
Net Deferred Tax Asset/(Liability)	$	2,652	$	(166)

Schedule of unrecognized tax benefits roll forward

	2023		2022		2021
Balance of gross unrecognized tax benefits as of Beginning of Year	$	678	$	678	$	866
Increase (Decrease) to unrecognized tax benefits from deemed dividends for investments in US property		—		—		(3)
Increase (Decrease) to unrecognized tax benefits resulting from the release of R&D credits due to the settled IRS audit		—		—		(185)
Increase (Decrease) to unrecognized tax benefits resulting from a state filing tax position		22		—		—
Balance of gross unrecognized tax benefits as of End of Year	$	700	$	678	$	678