Revenue from Contracts with Customers

9 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customer

Revenue from Contracts with Customers

Under ASC Topic 606, the Company is required to present a refund liability and a return asset within the unaudited Condensed Consolidated Balance Sheet. As of March 31, 2024 and June 30, 2023, the balance of the return asset was $0.2 million and $0.1 million, respectively, and the balance of the refund liability as of March 31, 2024 and June 30, 2023 were both $0.2 million. They are presented within prepaid expenses and other current assets and accrued expenses, respectively, on the Condensed Consolidated Balance Sheets.

The Company, in general, warrants its products against certain defects in material and workmanship when used as designed, for a period of up to one year. The Company does not sell extended warranties.

Contract Balances

Contract assets primarily relate to the Company’s rights to consideration for work completed but not billed at the reporting date on contracts with customers. Contract assets are transferred to receivables when the rights become unconditional. Contract

liabilities primarily relate to contracts where advance payments or deposits have been received, but performance obligations have not yet been met, and therefore, revenue has not been recognized. The Company had no contract asset balances, but had contract liability balances of $0.3 million and $0.3 million at March 31, 2024 and June 30, 2023, respectively, recorded in Accounts Payable in the Condensed Consolidated Balance Sheets.

Disaggregation of Revenue

The Company operates in three reportable segments: NAI, INI and GTM. ASC Topic 606 requires further disaggregation of an entity’s revenue. In the following table, the Company's net sales by shipping origin are disaggregated accordingly for the three and nine months ended March 31, 2024 and 2023 (in thousands):

	Three Months Ended				Nine Months Ended
	03/31/2024		03/31/2023		03/31/2024		03/31/2023
North America
United States	$	34,625	$	35,122	$	100,533	$	107,014
Canada & Mexico	1,952		1,931		5,502		6,209
	36,577		37,053		106,035		113,223
International
Brazil	17,891		18,160		57,530		55,465
United Kingdom	3,265		3,563		9,896		10,059
China	1,611		1,497		4,946		5,160
Australia & New Zealand	1,423		1,405		5,072		5,007
	24,190		24,625		77,444		75,691
Total Sales	$	60,767	$	61,678	$	183,479	$	188,914