Concentration of credit risk (Notes)

3 Months Ended

Sep. 30, 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

One customers accounted for 13% of net revenue during the three-month period ended March 31, 2024. One customer accounted for 11% of net revenue during the nine-month period ended March 31, 2024. No customer accounted for more than 10% during the three-month and nine-month periods ended March 31, 2023.

As of March 31, 2024, the Company had two customers that represented 16% and 11% of the total accounts receivable balance. As of June 30, 2023, the Company had one customer that represented 24% of the total accounts receivable balance.

Major Supplier

The Company's two largest suppliers accounted for 36% and 11% of total purchases for the three-month period ended March 31, 2024. The Company's one largest supplier accounted for 40% of total purchases for the nine-month period ended March 31, 2024. The Company's two largest suppliers accounted for 44% and 11% of total purchases for the three-month period ended March 31, 2023. The Company's two largest suppliers accounted for 44% and 10% of total purchases for the nine-month period ended March 31, 2023.

As of March 31, 2024, the Company had three suppliers that represented 29%, 12%, and 11% of the total accounts payable balance. As of June 30, 2023, the Company had two suppliers that represented 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 March 31,								For the Nine Months Ended March 31,
	2024				2023				2024				2023
Domestic	$	1,339	50	%	$	1,903	55	%	$	4,394	52	%	$	5,258	58	%
Foreign	1,357		50	%	1,531		45	%	4,116		48	%	3,787		42	%
Total	$	2,696	100	%	$	3,434	100	%	$	8,510	100	%	$	9,045	100	%