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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss $ (85,857) $ (113,331)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss from sale of OSP 36,143 0
Depreciation and amortization 6,504 17,871
Long-lived asset impairment 542 13,023
Deferred income taxes 391 (3,388)
Inventory reserve 10,478 12,068
Gain from disposal of distribution center assets 0 (14,997)
Loss from sale of salon assets to franchisees, net 2,334 16,696
Goodwill impairment 16,000 0
Stock-based compensation 1,334 3,254
Amortization of debt discount and financing costs 1,839 1,839
Other non-cash items affecting earnings 709 (351)
Changes in operating assets and liabilities:    
Receivables [1] 11,896 (279)
Inventories [1] 7,886 17,879
Income tax receivable [1] 1,118 1,295
Other current assets [1] 2,118 1,658
Other assets [1] 2,703 (2,896)
Accounts payable [1] (10,966) (21,669)
Accrued expenses [1] (21,983) 5,296
Net lease liabilities [1] (5,960) (19,248)
Other non-current liabilities [1] (15,867) (14,603)
Net cash used in operating activities: (38,638) (99,883)
Cash flows from investing activities:    
Capital expenditures (5,316) (11,475)
Proceeds from sale of OSP 13,000 0
Proceeds from sale of assets to franchisees 0 8,437
Costs associated with sale of assets to franchisees 0 (261)
Proceeds from company-owned life insurance policies 0 1,200
Net cash provided by (used in) investing activities: 7,684 (2,099)
Cash flows from financing activities:    
Borrowings on revolving credit facility 10,000 10,000
Repayments of revolving credit facility (16,916) (589)
Proceeds from issuance of common stock, net of offering costs 37,185 0
Taxes paid for shares withheld (845) (348)
Minority interest buyout 0 (562)
Distribution center lease payments 0 (724)
Net cash provided by financing activities: 29,424 7,777
Effect of exchange rate changes on cash and cash equivalents (158) 477
Decrease in cash, cash equivalents and restricted cash (1,688) (93,728)
Cash, cash equivalents and restricted cash:    
Beginning of year 29,152 122,880
End of year $ 27,464 $ 29,152
[1] Changes in operating assets and liabilities exclude assets and liabilities sold or acquired.