Concentration of credit risk (Notes)

9 Months Ended

Mar. 31, 2023

Concentration Risk Disclosure [Text Block]

Credit Risk

Financial instruments, which potentially subject the Company to the concentration of credit risk, consist principally of cash and cash equivalents, restricted cash and trade receivables. Concentration of credit risk with respect to trade receivables is generally diversified due to the large number of entities comprising the Company's customer base and their dispersion across geographic areas principally within the United States and international. The Company routinely addresses the financial strength of its customer and, as a consequence, believes that its receivable credit risk exposure is limited. The Company does not require customers to post collateral.

Major Customer

No customer accounted for more than 10% of net revenue during the three-month period ended September 30, 2023. No customer accounted for more than 10% during the three-month period ended September 30, 2022.

As of September 30, 2023 the Company had two customers that represented 13% and 11% of the total accounts receivable balance. As of June 30, 2023 the Company had one customer that represents 24% of the total accounts receivable balance.

Major Supplier

The Company's two largest suppliers accounted for 39% and 12% of total purchases for the three-month period ended September 30, 2023. The Company's one largest supplier accounted for 38% of total purchases for the three-month period ended September 30, 2022.

As of September 30, 2023, the Company had two suppliers that represented 25% and 12% of the total accounts payable balance. As of June 30, 2023, the Company had two suppliers that represent approximately 36% and 11% of the total accounts payable balance.

Disaggregated Revenue

Domestic and international sales from operations are as follows:


( in thousands)	For the Three Months Ended September 30,
		2023	2022
Domestic			$	1,502	51	%	$	1,620	62	%
Foreign			1,443		49	%	985		38	%
Total			$	2,945	100	%	$	2,605	100	%