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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 2/13/24 Akoustis Technologies, Inc. 10-Q 12/31/23 86:4.9M EdgarAgents LLC/FA |
Document/Exhibit Description Pages Size 1: 10-Q Quarterly Report HTML 755K 2: EX-31.1 Certification of Principal Executive Officer HTML 29K 3: EX-31.2 Certification of Principal Financial Officer HTML 29K 4: EX-32.1 Section1350 Certification of Principal Executive HTML 25K Officer 5: EX-32.2 Section 1350 Certification of Principal Financial HTML 25K Officer 11: R1 Document And Entity Information HTML 78K 12: R2 Condensed Consolidated Balance Sheets (Unaudited) HTML 132K 13: R3 Condensed Consolidated Balance Sheets (Unaudited) HTML 45K (Parentheticals) 14: R4 Condensed Consolidated Statements of Operations HTML 100K (Unaudited) 15: R5 Condensed Consolidated Statements of Operations HTML 33K (Unaudited) (Parentheticals) 16: R6 Condensed Consolidated Statements of Changes in HTML 76K Stockholders? Equity (Unaudited) 17: R7 Condensed Consolidated Statements of Cash Flows HTML 104K (Unaudited) 18: R8 Organization HTML 29K 19: R9 Liquidity HTML 30K 20: R10 Summary of Significant Accounting Policies HTML 33K 21: R11 Revenue Recognition from Contracts with Customers HTML 56K 22: R12 Inventory HTML 29K 23: R13 Property and Equipment, Net HTML 39K 24: R14 Business Acquisition HTML 34K 25: R15 Goodwill HTML 28K 26: R16 Accounts Payable and Accrued Expenses HTML 30K 27: R17 Notes Payable HTML 56K 28: R18 Concentrations HTML 38K 29: R19 Equity HTML 45K 30: R20 Leases HTML 38K 31: R21 Commitments and Contingencies HTML 38K 32: R22 Segment Information HTML 55K 33: R23 Loss Per Share HTML 30K 34: R24 Fair Value Measurement HTML 43K 35: R25 Subsequent Events HTML 27K 36: R26 Accounting Policies, by Policy (Policies) HTML 39K 37: R27 Revenue Recognition from Contracts with Customers HTML 47K (Tables) 38: R28 Inventory (Tables) HTML 29K 39: R29 Property and Equipment, Net (Tables) HTML 36K 40: R30 Business Acquisition (Tables) HTML 30K 41: R31 Accounts Payable and Accrued Expenses (Tables) HTML 30K 42: R32 Notes Payable (Tables) HTML 48K 43: R33 Concentrations (Tables) HTML 38K 44: R34 Equity (Tables) HTML 39K 45: R35 Leases (Tables) HTML 41K 46: R36 Segment Information (Tables) HTML 51K 47: R37 Loss Per Share (Tables) HTML 28K 48: R38 Fair Value Measurement (Tables) HTML 42K 49: R39 Organization (Details) HTML 25K 50: R40 Liquidity (Details) HTML 40K 51: R41 Summary of Significant Accounting Policies HTML 27K (Details) 52: R42 Revenue Recognition from Contracts with Customers HTML 32K (Details) 53: R43 Revenue Recognition from Contracts with Customers HTML 51K (Details) - Schedule of Company?s Reportable Segments by Geographic Region 54: R44 Revenue Recognition from Contracts with Customers HTML 33K (Details) - Schedule of Changes in the Opening and Closing Balances 55: R45 Inventory (Details) - Schedule of Inventory HTML 32K 56: R46 Property and Equipment, Net (Details) HTML 33K 57: R47 Property and Equipment, Net (Details) - Schedule HTML 52K of Property and Equipment, Net 58: R48 Business Acquisition (Details) HTML 34K 59: R49 Business Acquisition (Details) - Schedule of HTML 33K Unaudited Pro Forma Information 60: R50 Goodwill (Details) HTML 31K 61: R51 Accounts Payable and Accrued Expenses (Details) - HTML 37K Schedule of Accounts Payable and Accrued Expenses 62: R52 Notes Payable (Details) HTML 38K 63: R53 Notes Payable (Details) - Schedule of Convertible HTML 43K Debt 64: R54 Concentrations (Details) - Schedule of Customer HTML 41K Concentration as a Percentage of Revenue 65: R55 Concentrations (Details) - Schedule of Vendor HTML 34K Concentration 66: R56 Equity (Details) HTML 75K 67: R57 Equity (Details) - Schedule of Black-Scholes HTML 52K Option Pricing Model 68: R58 Equity (Details) - Schedule of Compensation HTML 42K Expense Related to Our Stock-Based Awards 69: R59 Equity (Details) - Schedule of Unrecognized HTML 33K Stock-Based Compensation Expense and Weighted-Average Years 70: R60 Leases (Details) HTML 27K 71: R61 Leases (Details) - Schedule of Components of Lease HTML 26K Expense 72: R62 Leases (Details) - Schedule of Balance Sheet HTML 39K Information Related to Leases 73: R63 Leases (Details) - Schedule of Minimum Future HTML 41K Lease Payments 74: R64 Commitments and Contingencies (Details) HTML 33K 75: R65 Segment Information (Details) HTML 26K 76: R66 Segment Information (Details) - Schedule of HTML 60K Operating Segments Based on Revenue and Operating Profit (Loss) 77: R67 Loss Per Share (Details) - Schedule of Common HTML 34K Stock Equivalents 78: R68 Fair Value Measurement (Details) - Schedule of HTML 36K Liabilities Measured at Fair Value 79: R69 Fair Value Measurement (Details) - Schedule of HTML 30K Changes in Fair Value of Level 3 Derivative Liabilities 80: R70 Fair Value Measurement (Details) - Schedule of HTML 35K Fair Value of the Embedded Derivatives in Our Convertible Notes 81: R71 Subsequent Events (Details) HTML 35K 83: XML IDEA XML File -- Filing Summary XML 159K 86: XML XBRL Instance -- f10q1223_akoustis_htm XML 1.09M 82: EXCEL IDEA Workbook of Financial Report Info XLSX 126K 7: EX-101.CAL XBRL Calculations -- akts-20231231_cal XML 101K 8: EX-101.DEF XBRL Definitions -- akts-20231231_def XML 653K 9: EX-101.LAB XBRL Labels -- akts-20231231_lab XML 1.25M 10: EX-101.PRE XBRL Presentations -- akts-20231231_pre XML 635K 6: EX-101.SCH XBRL Schema -- akts-20231231 XSD 204K 84: JSON XBRL Instance as JSON Data -- MetaLinks 401± 568K 85: ZIP XBRL Zipped Folder -- 0001213900-24-012863-xbrl Zip 229K
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<us-gaap:Assets contextRef="c2" decimals="-3" id="ixv-8686" unitRef="usd"> 111883000 </us-gaap:Assets> | |||||||||||||||||||||
<us-gaap:Assets contextRef="c3" decimals="-3" id="ixv-8687" unitRef="usd"> 148917000 </us-gaap:Assets> | |||||||||||||||||||||
<us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent contextRef="c2" decimals="-3" id="ixv-8688" unitRef="usd"> 13748000 </us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent> | |||||||||||||||||||||
<us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent contextRef="c3" decimals="-3" id="ixv-8689" unitRef="usd"> 17027000 </us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent> | |||||||||||||||||||||
<us-gaap:DeferredRevenueCurrent contextRef="c2" decimals="-3" id="ixv-8690" unitRef="usd"> 56000 </us-gaap:DeferredRevenueCurrent> | |||||||||||||||||||||
<us-gaap:DeferredRevenueCurrent contextRef="c3" decimals="-3" id="ixv-8691" unitRef="usd"> 105000 </us-gaap:DeferredRevenueCurrent> | |||||||||||||||||||||
<us-gaap:OperatingLeaseLiabilityCurrent contextRef="c2" decimals="-3" id="ixv-8692" unitRef="usd"> 478000 </us-gaap:OperatingLeaseLiabilityCurrent> | |||||||||||||||||||||
<us-gaap:OperatingLeaseLiabilityCurrent contextRef="c3" decimals="-3" id="ixv-8693" unitRef="usd"> 439000 </us-gaap:OperatingLeaseLiabilityCurrent> | |||||||||||||||||||||
<us-gaap:LiabilitiesCurrent contextRef="c2" decimals="-3" id="ixv-8694" unitRef="usd"> 14282000 </us-gaap:LiabilitiesCurrent> | |||||||||||||||||||||
<us-gaap:LiabilitiesCurrent contextRef="c3" decimals="-3" id="ixv-8695" unitRef="usd"> 17571000 </us-gaap:LiabilitiesCurrent> | |||||||||||||||||||||
<us-gaap:ConvertibleLongTermNotesPayable contextRef="c2" decimals="-3" id="ixv-8696" unitRef="usd"> 41653000 </us-gaap:ConvertibleLongTermNotesPayable> | |||||||||||||||||||||
<us-gaap:ConvertibleLongTermNotesPayable contextRef="c3" decimals="-3" id="ixv-8697" unitRef="usd"> 43347000 </us-gaap:ConvertibleLongTermNotesPayable> | |||||||||||||||||||||
<us-gaap:OtherLongTermNotesPayable contextRef="c2" decimals="-3" id="ixv-8698" unitRef="usd"> 1333000 </us-gaap:OtherLongTermNotesPayable> | |||||||||||||||||||||
<us-gaap:OtherLongTermNotesPayable contextRef="c3" decimals="-3" id="ixv-8699" unitRef="usd"> 667000 </us-gaap:OtherLongTermNotesPayable> | |||||||||||||||||||||
<us-gaap:OperatingLeaseLiabilityNoncurrent contextRef="c2" decimals="-3" id="ixv-8700" unitRef="usd"> 729000 </us-gaap:OperatingLeaseLiabilityNoncurrent> | |||||||||||||||||||||
<us-gaap:OperatingLeaseLiabilityNoncurrent contextRef="c3" decimals="-3" id="ixv-8701" unitRef="usd"> 976000 </us-gaap:OperatingLeaseLiabilityNoncurrent> | |||||||||||||||||||||
<us-gaap:OtherLiabilitiesNoncurrent contextRef="c2" decimals="-3" id="ixv-8702" unitRef="usd"> 117000 </us-gaap:OtherLiabilitiesNoncurrent> | |||||||||||||||||||||
<us-gaap:OtherLiabilitiesNoncurrent contextRef="c3" decimals="-3" id="ixv-8703" unitRef="usd"> 117000 </us-gaap:OtherLiabilitiesNoncurrent> | |||||||||||||||||||||
<us-gaap:LiabilitiesNoncurrent contextRef="c2" decimals="-3" id="ixv-8704" unitRef="usd"> 43832000 </us-gaap:LiabilitiesNoncurrent> | |||||||||||||||||||||
<us-gaap:LiabilitiesNoncurrent contextRef="c3" decimals="-3" id="ixv-8705" unitRef="usd"> 45107000 </us-gaap:LiabilitiesNoncurrent> | |||||||||||||||||||||
<us-gaap:Liabilities contextRef="c2" decimals="-3" id="ixv-8706" unitRef="usd"> 58114000 </us-gaap:Liabilities> | |||||||||||||||||||||
<us-gaap:Liabilities contextRef="c3" decimals="-3" id="ixv-8707" unitRef="usd"> 62678000 </us-gaap:Liabilities> | |||||||||||||||||||||
<us-gaap:PreferredStockParOrStatedValuePerShare contextRef="c2" decimals="3" id="ixv-8708" unitRef="usdPershares"> 0.001 </us-gaap:PreferredStockParOrStatedValuePerShare> | |||||||||||||||||||||
<us-gaap:PreferredStockParOrStatedValuePerShare contextRef="c3" decimals="3" id="ixv-8709" unitRef="usdPershares"> 0.001 </us-gaap:PreferredStockParOrStatedValuePerShare> | |||||||||||||||||||||
<us-gaap:PreferredStockSharesAuthorized contextRef="c2" decimals="0" id="ixv-8710" unitRef="shares"> 5000000 </us-gaap:PreferredStockSharesAuthorized> | |||||||||||||||||||||
<us-gaap:PreferredStockSharesAuthorized contextRef="c3" decimals="0" id="ixv-8711" unitRef="shares"> 5000000 </us-gaap:PreferredStockSharesAuthorized> | |||||||||||||||||||||
<us-gaap:CommonStockParOrStatedValuePerShare contextRef="c2" decimals="3" id="ixv-8712" unitRef="usdPershares"> 0.001 </us-gaap:CommonStockParOrStatedValuePerShare> | |||||||||||||||||||||
<us-gaap:CommonStockParOrStatedValuePerShare contextRef="c3" decimals="3" id="ixv-8713" unitRef="usdPershares"> 0.001 </us-gaap:CommonStockParOrStatedValuePerShare> | |||||||||||||||||||||
<us-gaap:CommonStockSharesAuthorized contextRef="c2" decimals="0" id="ixv-8714" unitRef="shares"> 175000000 </us-gaap:CommonStockSharesAuthorized> | |||||||||||||||||||||
<us-gaap:CommonStockSharesAuthorized contextRef="c3" decimals="0" id="ixv-8715" unitRef="shares"> 175000000 </us-gaap:CommonStockSharesAuthorized> | |||||||||||||||||||||
<us-gaap:CommonStockSharesIssued contextRef="c2" decimals="0" id="ixv-8716" unitRef="shares"> 75435479 </us-gaap:CommonStockSharesIssued> | |||||||||||||||||||||
<us-gaap:CommonStockSharesOutstanding contextRef="c2" decimals="0" id="ixv-8717" unitRef="shares"> 75435479 </us-gaap:CommonStockSharesOutstanding> | |||||||||||||||||||||
<us-gaap:CommonStockSharesIssued contextRef="c3" decimals="0" id="ixv-8718" unitRef="shares"> 72154647 </us-gaap:CommonStockSharesIssued> | |||||||||||||||||||||
<us-gaap:CommonStockSharesOutstanding contextRef="c3" decimals="0" id="ixv-8719" unitRef="shares"> 72154647 </us-gaap:CommonStockSharesOutstanding> | |||||||||||||||||||||
<us-gaap:CommonStockValue contextRef="c2" decimals="-3" id="ixv-8720" unitRef="usd"> 75000 </us-gaap:CommonStockValue> | |||||||||||||||||||||
<us-gaap:CommonStockValue contextRef="c3" decimals="-3" id="ixv-8721" unitRef="usd"> 72000 </us-gaap:CommonStockValue> | |||||||||||||||||||||
<us-gaap:AdditionalPaidInCapital contextRef="c2" decimals="-3" id="ixv-8722" unitRef="usd"> 360090000 </us-gaap:AdditionalPaidInCapital> | |||||||||||||||||||||
<us-gaap:AdditionalPaidInCapital contextRef="c3" decimals="-3" id="ixv-8723" unitRef="usd"> 356522000 </us-gaap:AdditionalPaidInCapital> | |||||||||||||||||||||
<us-gaap:RetainedEarningsAccumulatedDeficit contextRef="c2" decimals="-3" id="ixv-8724" unitRef="usd"> -306396000 </us-gaap:RetainedEarningsAccumulatedDeficit> | |||||||||||||||||||||
<us-gaap:RetainedEarningsAccumulatedDeficit contextRef="c3" decimals="-3" id="ixv-8725" unitRef="usd"> -270355000 </us-gaap:RetainedEarningsAccumulatedDeficit> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c2" decimals="-3" id="ixv-8726" unitRef="usd"> 53769000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c3" decimals="-3" id="ixv-8727" unitRef="usd"> 86239000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:LiabilitiesAndStockholdersEquity contextRef="c2" decimals="-3" id="ixv-8728" unitRef="usd"> 111883000 </us-gaap:LiabilitiesAndStockholdersEquity> | |||||||||||||||||||||
<us-gaap:LiabilitiesAndStockholdersEquity contextRef="c3" decimals="-3" id="ixv-8729" unitRef="usd"> 148917000 </us-gaap:LiabilitiesAndStockholdersEquity> | |||||||||||||||||||||
<us-gaap:Revenues contextRef="c4" decimals="-3" id="ixv-8730" unitRef="usd"> 7017000 </us-gaap:Revenues> | |||||||||||||||||||||
<us-gaap:Revenues contextRef="c5" decimals="-3" id="ixv-8731" unitRef="usd"> 5865000 </us-gaap:Revenues> | |||||||||||||||||||||
<us-gaap:Revenues contextRef="c0" decimals="-3" id="ixv-8732" unitRef="usd"> 14019000 </us-gaap:Revenues> | |||||||||||||||||||||
<us-gaap:Revenues contextRef="c6" decimals="-3" id="ixv-8733" unitRef="usd"> 11432000 </us-gaap:Revenues> | |||||||||||||||||||||
<us-gaap:CostOfRevenue contextRef="c4" decimals="-3" id="ixv-8734" unitRef="usd"> 6336000 </us-gaap:CostOfRevenue> | |||||||||||||||||||||
<us-gaap:CostOfRevenue contextRef="c5" decimals="-3" id="ixv-8735" unitRef="usd"> 5274000 </us-gaap:CostOfRevenue> | |||||||||||||||||||||
<us-gaap:CostOfRevenue contextRef="c0" decimals="-3" id="ixv-8736" unitRef="usd"> 14422000 </us-gaap:CostOfRevenue> | |||||||||||||||||||||
<us-gaap:CostOfRevenue contextRef="c6" decimals="-3" id="ixv-8737" unitRef="usd"> 11727000 </us-gaap:CostOfRevenue> | |||||||||||||||||||||
<us-gaap:GrossProfit contextRef="c4" decimals="-3" id="ixv-8738" unitRef="usd"> 681000 </us-gaap:GrossProfit> | |||||||||||||||||||||
<us-gaap:GrossProfit contextRef="c5" decimals="-3" id="ixv-8739" unitRef="usd"> 591000 </us-gaap:GrossProfit> | |||||||||||||||||||||
<us-gaap:GrossProfit contextRef="c0" decimals="-3" id="ixv-8740" unitRef="usd"> -403000 </us-gaap:GrossProfit> | |||||||||||||||||||||
<us-gaap:GrossProfit contextRef="c6" decimals="-3" id="ixv-8741" unitRef="usd"> -295000 </us-gaap:GrossProfit> | |||||||||||||||||||||
<us-gaap:ResearchAndDevelopmentExpense contextRef="c4" decimals="-3" id="ixv-8742" unitRef="usd"> 6411000 </us-gaap:ResearchAndDevelopmentExpense> | |||||||||||||||||||||
<us-gaap:ResearchAndDevelopmentExpense contextRef="c5" decimals="-3" id="ixv-8743" unitRef="usd"> 7645000 </us-gaap:ResearchAndDevelopmentExpense> | |||||||||||||||||||||
<us-gaap:ResearchAndDevelopmentExpense contextRef="c0" decimals="-3" id="ixv-8744" unitRef="usd"> 16758000 </us-gaap:ResearchAndDevelopmentExpense> | |||||||||||||||||||||
<us-gaap:ResearchAndDevelopmentExpense contextRef="c6" decimals="-3" id="ixv-8745" unitRef="usd"> 17730000 </us-gaap:ResearchAndDevelopmentExpense> | |||||||||||||||||||||
<us-gaap:GeneralAndAdministrativeExpense contextRef="c4" decimals="-3" id="ixv-8746" unitRef="usd"> 9294000 </us-gaap:GeneralAndAdministrativeExpense> | |||||||||||||||||||||
<us-gaap:GeneralAndAdministrativeExpense contextRef="c5" decimals="-3" id="ixv-8747" unitRef="usd"> 5838000 </us-gaap:GeneralAndAdministrativeExpense> | |||||||||||||||||||||
<us-gaap:GeneralAndAdministrativeExpense contextRef="c0" decimals="-3" id="ixv-8748" unitRef="usd"> 19518000 </us-gaap:GeneralAndAdministrativeExpense> | |||||||||||||||||||||
<us-gaap:GeneralAndAdministrativeExpense contextRef="c6" decimals="-3" id="ixv-8749" unitRef="usd"> 12833000 </us-gaap:GeneralAndAdministrativeExpense> | |||||||||||||||||||||
<us-gaap:OperatingExpenses contextRef="c4" decimals="-3" id="ixv-8750" unitRef="usd"> 15705000 </us-gaap:OperatingExpenses> | |||||||||||||||||||||
<us-gaap:OperatingExpenses contextRef="c5" decimals="-3" id="ixv-8751" unitRef="usd"> 13483000 </us-gaap:OperatingExpenses> | |||||||||||||||||||||
<us-gaap:OperatingExpenses contextRef="c0" decimals="-3" id="ixv-8752" unitRef="usd"> 36276000 </us-gaap:OperatingExpenses> | |||||||||||||||||||||
<us-gaap:OperatingExpenses contextRef="c6" decimals="-3" id="ixv-8753" unitRef="usd"> 30563000 </us-gaap:OperatingExpenses> | |||||||||||||||||||||
<us-gaap:OperatingIncomeLoss contextRef="c4" decimals="-3" id="ixv-8754" unitRef="usd"> -15024000 </us-gaap:OperatingIncomeLoss> | |||||||||||||||||||||
<us-gaap:OperatingIncomeLoss contextRef="c5" decimals="-3" id="ixv-8755" unitRef="usd"> -12892000 </us-gaap:OperatingIncomeLoss> | |||||||||||||||||||||
<us-gaap:OperatingIncomeLoss contextRef="c0" decimals="-3" id="ixv-8756" unitRef="usd"> -36679000 </us-gaap:OperatingIncomeLoss> | |||||||||||||||||||||
<us-gaap:OperatingIncomeLoss contextRef="c6" decimals="-3" id="ixv-8757" unitRef="usd"> -30858000 </us-gaap:OperatingIncomeLoss> | |||||||||||||||||||||
<us-gaap:InterestIncomeExpenseNet contextRef="c4" decimals="-3" id="ixv-8758" unitRef="usd"> -679000 </us-gaap:InterestIncomeExpenseNet> | |||||||||||||||||||||
<us-gaap:InterestIncomeExpenseNet contextRef="c5" decimals="-3" id="ixv-8759" unitRef="usd"> -702000 </us-gaap:InterestIncomeExpenseNet> | |||||||||||||||||||||
<us-gaap:InterestIncomeExpenseNet contextRef="c0" decimals="-3" id="ixv-8760" unitRef="usd"> -1164000 </us-gaap:InterestIncomeExpenseNet> | |||||||||||||||||||||
<us-gaap:InterestIncomeExpenseNet contextRef="c6" decimals="-3" id="ixv-8761" unitRef="usd"> -1445000 </us-gaap:InterestIncomeExpenseNet> | |||||||||||||||||||||
<us-gaap:OtherNonoperatingIncomeExpense contextRef="c4" decimals="-3" id="ixv-8762" unitRef="usd"> 1000 </us-gaap:OtherNonoperatingIncomeExpense> | |||||||||||||||||||||
<us-gaap:OtherNonoperatingIncomeExpense contextRef="c5" decimals="-3" id="ixv-8763" unitRef="usd"> 5000 </us-gaap:OtherNonoperatingIncomeExpense> | |||||||||||||||||||||
<us-gaap:OtherNonoperatingIncomeExpense contextRef="c6" decimals="-3" id="ixv-8764" unitRef="usd"> -9000 </us-gaap:OtherNonoperatingIncomeExpense> | |||||||||||||||||||||
<akts:ChangeInFairValueOfContingentConsideration contextRef="c5" decimals="-3" id="ixv-8765" unitRef="usd"> -1616000 </akts:ChangeInFairValueOfContingentConsideration> | |||||||||||||||||||||
<akts:ChangeInFairValueOfContingentConsideration contextRef="c6" decimals="-3" id="ixv-8766" unitRef="usd"> -1170000 </akts:ChangeInFairValueOfContingentConsideration> | |||||||||||||||||||||
<us-gaap:FairValueAdjustmentOfWarrants contextRef="c4" decimals="-3" id="ixv-8767" unitRef="usd"> 7000 </us-gaap:FairValueAdjustmentOfWarrants> | |||||||||||||||||||||
<us-gaap:FairValueAdjustmentOfWarrants contextRef="c5" decimals="-3" id="ixv-8768" unitRef="usd"> -818000 </us-gaap:FairValueAdjustmentOfWarrants> | |||||||||||||||||||||
<us-gaap:FairValueAdjustmentOfWarrants contextRef="c0" decimals="-3" id="ixv-8769" unitRef="usd"> -2006000 </us-gaap:FairValueAdjustmentOfWarrants> | |||||||||||||||||||||
<us-gaap:FairValueAdjustmentOfWarrants contextRef="c6" decimals="-3" id="ixv-8770" unitRef="usd"> -839000 </us-gaap:FairValueAdjustmentOfWarrants> | |||||||||||||||||||||
<us-gaap:NonoperatingIncomeExpense contextRef="c4" decimals="-3" id="ixv-8771" unitRef="usd"> -685000 </us-gaap:NonoperatingIncomeExpense> | |||||||||||||||||||||
<us-gaap:NonoperatingIncomeExpense contextRef="c5" decimals="-3" id="ixv-8772" unitRef="usd"> 1737000 </us-gaap:NonoperatingIncomeExpense> | |||||||||||||||||||||
<us-gaap:NonoperatingIncomeExpense contextRef="c0" decimals="-3" id="ixv-8773" unitRef="usd"> 842000 </us-gaap:NonoperatingIncomeExpense> | |||||||||||||||||||||
<us-gaap:NonoperatingIncomeExpense contextRef="c6" decimals="-3" id="ixv-8774" unitRef="usd"> 555000 </us-gaap:NonoperatingIncomeExpense> | |||||||||||||||||||||
<us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest contextRef="c4" decimals="-3" id="ixv-8775" unitRef="usd"> -15709000 </us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest> | |||||||||||||||||||||
<us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest contextRef="c5" decimals="-3" id="ixv-8776" unitRef="usd"> -11155000 </us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest> | |||||||||||||||||||||
<us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest contextRef="c0" decimals="-3" id="ixv-8777" unitRef="usd"> -35837000 </us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest> | |||||||||||||||||||||
<us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest contextRef="c6" decimals="-3" id="ixv-8778" unitRef="usd"> -30303000 </us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest> | |||||||||||||||||||||
<us-gaap:IncomeTaxExpenseBenefit contextRef="c4" decimals="-3" id="ixv-8779" unitRef="usd"> 2000 </us-gaap:IncomeTaxExpenseBenefit> | |||||||||||||||||||||
<us-gaap:IncomeTaxExpenseBenefit contextRef="c5" decimals="-3" id="ixv-8780" unitRef="usd"> 1000 </us-gaap:IncomeTaxExpenseBenefit> | |||||||||||||||||||||
<us-gaap:IncomeTaxExpenseBenefit contextRef="c0" decimals="-3" id="ixv-8781" unitRef="usd"> 3000 </us-gaap:IncomeTaxExpenseBenefit> | |||||||||||||||||||||
<us-gaap:IncomeTaxExpenseBenefit contextRef="c6" decimals="-3" id="ixv-8782" unitRef="usd"> -56000 </us-gaap:IncomeTaxExpenseBenefit> | |||||||||||||||||||||
<us-gaap:NetIncomeLoss contextRef="c4" decimals="-3" id="ixv-8783" unitRef="usd"> -15711000 </us-gaap:NetIncomeLoss> | |||||||||||||||||||||
<us-gaap:NetIncomeLoss contextRef="c5" decimals="-3" id="ixv-8784" unitRef="usd"> -11156000 </us-gaap:NetIncomeLoss> | |||||||||||||||||||||
<us-gaap:NetIncomeLoss contextRef="c0" decimals="-3" id="ixv-8785" unitRef="usd"> -35840000 </us-gaap:NetIncomeLoss> | |||||||||||||||||||||
<us-gaap:NetIncomeLoss contextRef="c6" decimals="-3" id="ixv-8786" unitRef="usd"> -30247000 </us-gaap:NetIncomeLoss> | |||||||||||||||||||||
<us-gaap:EarningsPerShareBasic contextRef="c4" decimals="2" id="ixv-8787" unitRef="usdPershares"> -0.21 </us-gaap:EarningsPerShareBasic> | |||||||||||||||||||||
<us-gaap:EarningsPerShareBasic contextRef="c5" decimals="2" id="ixv-8788" unitRef="usdPershares"> -0.19 </us-gaap:EarningsPerShareBasic> | |||||||||||||||||||||
<us-gaap:EarningsPerShareBasic contextRef="c0" decimals="2" id="ixv-8789" unitRef="usdPershares"> -0.49 </us-gaap:EarningsPerShareBasic> | |||||||||||||||||||||
<us-gaap:EarningsPerShareBasic contextRef="c6" decimals="2" id="ixv-8790" unitRef="usdPershares"> -0.53 </us-gaap:EarningsPerShareBasic> | |||||||||||||||||||||
<us-gaap:WeightedAverageNumberOfSharesOutstandingBasic contextRef="c4" decimals="0" id="ixv-8791" unitRef="shares"> 73084663 </us-gaap:WeightedAverageNumberOfSharesOutstandingBasic> | |||||||||||||||||||||
<us-gaap:WeightedAverageNumberOfSharesOutstandingBasic contextRef="c5" decimals="0" id="ixv-8792" unitRef="shares"> 57583844 </us-gaap:WeightedAverageNumberOfSharesOutstandingBasic> | |||||||||||||||||||||
<us-gaap:WeightedAverageNumberOfSharesOutstandingBasic contextRef="c0" decimals="0" id="ixv-8793" unitRef="shares"> 72695676 </us-gaap:WeightedAverageNumberOfSharesOutstandingBasic> | |||||||||||||||||||||
<us-gaap:WeightedAverageNumberOfSharesOutstandingBasic contextRef="c6" decimals="0" id="ixv-8794" unitRef="shares"> 57369118 </us-gaap:WeightedAverageNumberOfSharesOutstandingBasic> | |||||||||||||||||||||
<us-gaap:CommonStockSharesOutstanding contextRef="c7" decimals="INF" id="ixv-8795" unitRef="shares"> 72463 </us-gaap:CommonStockSharesOutstanding> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c7" decimals="-3" id="ixv-8796" unitRef="usd"> 72000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c8" decimals="-3" id="ixv-8797" unitRef="usd"> 358405000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c9" decimals="-3" id="ixv-8798" unitRef="usd"> -290685000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c10" decimals="-3" id="ixv-8799" unitRef="usd"> 67792000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation contextRef="c11" decimals="INF" id="ixv-8800" unitRef="shares"> 488 </us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="c11" decimals="-3" id="ixv-8801" unitRef="usd"> 1000 </us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="c12" decimals="-3" id="ixv-8802" unitRef="usd"> 315000 </us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="c4" decimals="-3" id="ixv-8803" unitRef="usd"> 316000 </us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans contextRef="c11" decimals="INF" id="ixv-8804" unitRef="shares"> 108 </us-gaap:StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueEmployeeStockPurchasePlan contextRef="c12" decimals="-3" id="ixv-8805" unitRef="usd"> 52000 </us-gaap:StockIssuedDuringPeriodValueEmployeeStockPurchasePlan> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueEmployeeStockPurchasePlan contextRef="c4" decimals="-3" id="ixv-8806" unitRef="usd"> 52000 </us-gaap:StockIssuedDuringPeriodValueEmployeeStockPurchasePlan> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodSharesOther contextRef="c11" decimals="INF" id="ixv-8807" unitRef="shares"> 2376 </us-gaap:StockIssuedDuringPeriodSharesOther> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueOther contextRef="c11" decimals="-3" id="ixv-8808" unitRef="usd"> 2000 </us-gaap:StockIssuedDuringPeriodValueOther> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueOther contextRef="c12" decimals="-3" id="ixv-8809" unitRef="usd"> 1318000 </us-gaap:StockIssuedDuringPeriodValueOther> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueOther contextRef="c4" decimals="-3" id="ixv-8810" unitRef="usd"> 1320000 </us-gaap:StockIssuedDuringPeriodValueOther> | |||||||||||||||||||||
<us-gaap:NetIncomeLoss contextRef="c13" decimals="-3" id="ixv-8811" unitRef="usd"> -15711000 </us-gaap:NetIncomeLoss> | |||||||||||||||||||||
<us-gaap:NetIncomeLoss contextRef="c4" decimals="-3" id="ixv-8812" unitRef="usd"> -15711000 </us-gaap:NetIncomeLoss> | |||||||||||||||||||||
<us-gaap:CommonStockSharesOutstanding contextRef="c14" decimals="INF" id="ixv-8813" unitRef="shares"> 75435 </us-gaap:CommonStockSharesOutstanding> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c14" decimals="-3" id="ixv-8814" unitRef="usd"> 75000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c15" decimals="-3" id="ixv-8815" unitRef="usd"> 360090000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c16" decimals="-3" id="ixv-8816" unitRef="usd"> -306396000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c2" decimals="-3" id="ixv-8817" unitRef="usd"> 53769000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:CommonStockSharesOutstanding contextRef="c17" decimals="INF" id="ixv-8818" unitRef="shares"> 57341 </us-gaap:CommonStockSharesOutstanding> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c17" decimals="-3" id="ixv-8819" unitRef="usd"> 57000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c18" decimals="-3" id="ixv-8820" unitRef="usd"> 312519000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c19" decimals="-3" id="ixv-8821" unitRef="usd"> -225889000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c20" decimals="-3" id="ixv-8822" unitRef="usd"> 86687000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation contextRef="c21" decimals="INF" id="ixv-8823" unitRef="shares"> 329 </us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="c21" decimals="-3" id="ixv-8824" unitRef="usd"> 1000 </us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="c22" decimals="-3" id="ixv-8825" unitRef="usd"> 1894000 </us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="c5" decimals="-3" id="ixv-8826" unitRef="usd"> 1895000 </us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans contextRef="c21" decimals="INF" id="ixv-8827" unitRef="shares"> 89 </us-gaap:StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueEmployeeStockPurchasePlan contextRef="c22" decimals="-3" id="ixv-8828" unitRef="usd"> 288000 </us-gaap:StockIssuedDuringPeriodValueEmployeeStockPurchasePlan> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueEmployeeStockPurchasePlan contextRef="c5" decimals="-3" id="ixv-8829" unitRef="usd"> 288000 </us-gaap:StockIssuedDuringPeriodValueEmployeeStockPurchasePlan> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodSharesOther contextRef="c21" decimals="INF" id="ixv-8830" unitRef="shares"> 402 </us-gaap:StockIssuedDuringPeriodSharesOther> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueOther contextRef="c22" decimals="-3" id="ixv-8831" unitRef="usd"> 1364000 </us-gaap:StockIssuedDuringPeriodValueOther> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueOther contextRef="c5" decimals="-3" id="ixv-8832" unitRef="usd"> 1364000 </us-gaap:StockIssuedDuringPeriodValueOther> | |||||||||||||||||||||
<us-gaap:NetIncomeLoss contextRef="c23" decimals="-3" id="ixv-8833" unitRef="usd"> -11156000 </us-gaap:NetIncomeLoss> | |||||||||||||||||||||
<us-gaap:NetIncomeLoss contextRef="c5" decimals="-3" id="ixv-8834" unitRef="usd"> -11156000 </us-gaap:NetIncomeLoss> | |||||||||||||||||||||
<us-gaap:CommonStockSharesOutstanding contextRef="c24" decimals="INF" id="ixv-8835" unitRef="shares"> 58161 </us-gaap:CommonStockSharesOutstanding> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c24" decimals="-3" id="ixv-8836" unitRef="usd"> 58000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c25" decimals="-3" id="ixv-8837" unitRef="usd"> 316065000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c26" decimals="-3" id="ixv-8838" unitRef="usd"> -237045000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c27" decimals="-3" id="ixv-8839" unitRef="usd"> 79078000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:CommonStockSharesOutstanding contextRef="c28" decimals="INF" id="ixv-8840" unitRef="shares"> 72155 </us-gaap:CommonStockSharesOutstanding> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c28" decimals="-3" id="ixv-8841" unitRef="usd"> 72000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c29" decimals="-3" id="ixv-8842" unitRef="usd"> 356522000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c30" decimals="-3" id="ixv-8843" unitRef="usd"> -270355000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c3" decimals="-3" id="ixv-8844" unitRef="usd"> 86239000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<akts:CumulativeEffectPeriodOfAdoptionAdjustment contextRef="c33" decimals="-3" id="ixv-8845" unitRef="usd"> -201000 </akts:CumulativeEffectPeriodOfAdoptionAdjustment> | |||||||||||||||||||||
<akts:CumulativeEffectPeriodOfAdoptionAdjustment contextRef="c0" decimals="-3" id="ixv-8846" unitRef="usd"> -201000 </akts:CumulativeEffectPeriodOfAdoptionAdjustment> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation contextRef="c31" decimals="INF" id="ixv-8847" unitRef="shares"> 695 </us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="c31" decimals="-3" id="ixv-8848" unitRef="usd"> 1000 </us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="c32" decimals="-3" id="ixv-8849" unitRef="usd"> 2198000 </us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="c0" decimals="-3" id="ixv-8850" unitRef="usd"> 2199000 </us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans contextRef="c31" decimals="INF" id="ixv-8851" unitRef="shares"> 209 </us-gaap:StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueEmployeeStockPurchasePlan contextRef="c32" decimals="-3" id="ixv-8852" unitRef="usd"> 52000 </us-gaap:StockIssuedDuringPeriodValueEmployeeStockPurchasePlan> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueEmployeeStockPurchasePlan contextRef="c0" decimals="-3" id="ixv-8853" unitRef="usd"> 52000 </us-gaap:StockIssuedDuringPeriodValueEmployeeStockPurchasePlan> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodSharesOther contextRef="c31" decimals="INF" id="ixv-8854" unitRef="shares"> 2376 </us-gaap:StockIssuedDuringPeriodSharesOther> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueOther contextRef="c31" decimals="-3" id="ixv-8855" unitRef="usd"> 2000 </us-gaap:StockIssuedDuringPeriodValueOther> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueOther contextRef="c32" decimals="-3" id="ixv-8856" unitRef="usd"> 1318000 </us-gaap:StockIssuedDuringPeriodValueOther> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueOther contextRef="c0" decimals="-3" id="ixv-8857" unitRef="usd"> 1320000 </us-gaap:StockIssuedDuringPeriodValueOther> | |||||||||||||||||||||
<us-gaap:NetIncomeLoss contextRef="c33" decimals="-3" id="ixv-8858" unitRef="usd"> -35840000 </us-gaap:NetIncomeLoss> | |||||||||||||||||||||
<us-gaap:NetIncomeLoss contextRef="c0" decimals="-3" id="ixv-8859" unitRef="usd"> -35840000 </us-gaap:NetIncomeLoss> | |||||||||||||||||||||
<us-gaap:CommonStockSharesOutstanding contextRef="c14" decimals="INF" id="ixv-8860" unitRef="shares"> 75435 </us-gaap:CommonStockSharesOutstanding> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c14" decimals="-3" id="ixv-8861" unitRef="usd"> 75000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c15" decimals="-3" id="ixv-8862" unitRef="usd"> 360090000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c16" decimals="-3" id="ixv-8863" unitRef="usd"> -306396000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c2" decimals="-3" id="ixv-8864" unitRef="usd"> 53769000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:CommonStockSharesOutstanding contextRef="c34" decimals="INF" id="ixv-8865" unitRef="shares"> 57079 </us-gaap:CommonStockSharesOutstanding> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c34" decimals="-3" id="ixv-8866" unitRef="usd"> 57000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c35" decimals="-3" id="ixv-8867" unitRef="usd"> 310171000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c36" decimals="-3" id="ixv-8868" unitRef="usd"> -206798000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c37" decimals="-3" id="ixv-8869" unitRef="usd"> 103429000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation contextRef="c38" decimals="INF" id="ixv-8870" unitRef="shares"> 591 </us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="c38" decimals="-3" id="ixv-8871" unitRef="usd"> 1000 </us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="c39" decimals="-3" id="ixv-8872" unitRef="usd"> 4243000 </us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="c6" decimals="-3" id="ixv-8873" unitRef="usd"> 4244000 </us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans contextRef="c38" decimals="INF" id="ixv-8874" unitRef="shares"> 89 </us-gaap:StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueEmployeeStockPurchasePlan contextRef="c39" decimals="-3" id="ixv-8875" unitRef="usd"> 288000 </us-gaap:StockIssuedDuringPeriodValueEmployeeStockPurchasePlan> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueEmployeeStockPurchasePlan contextRef="c6" decimals="-3" id="ixv-8876" unitRef="usd"> 288000 </us-gaap:StockIssuedDuringPeriodValueEmployeeStockPurchasePlan> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodSharesOther contextRef="c38" decimals="INF" id="ixv-8877" unitRef="shares"> 402 </us-gaap:StockIssuedDuringPeriodSharesOther> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueOther contextRef="c39" decimals="-3" id="ixv-8878" unitRef="usd"> 1364000 </us-gaap:StockIssuedDuringPeriodValueOther> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueOther contextRef="c6" decimals="-3" id="ixv-8879" unitRef="usd"> 1364000 </us-gaap:StockIssuedDuringPeriodValueOther> | |||||||||||||||||||||
<us-gaap:NetIncomeLoss contextRef="c40" decimals="-3" id="ixv-8880" unitRef="usd"> -30247000 </us-gaap:NetIncomeLoss> | |||||||||||||||||||||
<us-gaap:NetIncomeLoss contextRef="c6" decimals="-3" id="ixv-8881" unitRef="usd"> -30247000 </us-gaap:NetIncomeLoss> | |||||||||||||||||||||
<us-gaap:CommonStockSharesOutstanding contextRef="c24" decimals="INF" id="ixv-8882" unitRef="shares"> 58161 </us-gaap:CommonStockSharesOutstanding> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c24" decimals="-3" id="ixv-8883" unitRef="usd"> 58000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c25" decimals="-3" id="ixv-8884" unitRef="usd"> 316065000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c26" decimals="-3" id="ixv-8885" unitRef="usd"> -237045000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="c27" decimals="-3" id="ixv-8886" unitRef="usd"> 79078000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:NetIncomeLoss contextRef="c0" decimals="-3" id="ixv-8887" unitRef="usd"> -35840000 </us-gaap:NetIncomeLoss> | |||||||||||||||||||||
<us-gaap:NetIncomeLoss contextRef="c6" decimals="-3" id="ixv-8888" unitRef="usd"> -30247000 </us-gaap:NetIncomeLoss> | |||||||||||||||||||||
<us-gaap:DepreciationAndAmortization contextRef="c0" decimals="-3" id="ixv-8889" unitRef="usd"> 6235000 </us-gaap:DepreciationAndAmortization> | |||||||||||||||||||||
<us-gaap:DepreciationAndAmortization contextRef="c6" decimals="-3" id="ixv-8890" unitRef="usd"> 5092000 </us-gaap:DepreciationAndAmortization> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensation contextRef="c0" decimals="-3" id="ixv-8891" unitRef="usd"> 2199000 </us-gaap:ShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensation contextRef="c6" decimals="-3" id="ixv-8892" unitRef="usd"> 4244000 </us-gaap:ShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:AmortizationOfDebtDiscountPremium contextRef="c0" decimals="-3" id="ixv-8893" unitRef="usd"> 312000 </us-gaap:AmortizationOfDebtDiscountPremium> | |||||||||||||||||||||
<us-gaap:AmortizationOfDebtDiscountPremium contextRef="c6" decimals="-3" id="ixv-8894" unitRef="usd"> 290000 </us-gaap:AmortizationOfDebtDiscountPremium> | |||||||||||||||||||||
<us-gaap:OperatingLeaseRightOfUseAssetAmortizationExpense contextRef="c0" decimals="-3" id="ixv-8895" unitRef="usd"> 216000 </us-gaap:OperatingLeaseRightOfUseAssetAmortizationExpense> | |||||||||||||||||||||
<us-gaap:OperatingLeaseRightOfUseAssetAmortizationExpense contextRef="c6" decimals="-3" id="ixv-8896" unitRef="usd"> 171000 </us-gaap:OperatingLeaseRightOfUseAssetAmortizationExpense> | |||||||||||||||||||||
<us-gaap:OtherNoncashExpense contextRef="c0" decimals="-3" id="ixv-8897" unitRef="usd"> 1320000 </us-gaap:OtherNoncashExpense> | |||||||||||||||||||||
<us-gaap:OtherNoncashExpense contextRef="c6" decimals="-3" id="ixv-8898" unitRef="usd"> 1364000 </us-gaap:OtherNoncashExpense> | |||||||||||||||||||||
<us-gaap:FairValueAdjustmentOfWarrants contextRef="c0" decimals="-3" id="ixv-8899" unitRef="usd"> -2006000 </us-gaap:FairValueAdjustmentOfWarrants> | |||||||||||||||||||||
<us-gaap:FairValueAdjustmentOfWarrants contextRef="c6" decimals="-3" id="ixv-8900" unitRef="usd"> -839000 </us-gaap:FairValueAdjustmentOfWarrants> | |||||||||||||||||||||
<akts:ChangeInFairValueOfContingentConsideration contextRef="c6" decimals="-3" id="ixv-8901" unitRef="usd"> -1170000 </akts:ChangeInFairValueOfContingentConsideration> | |||||||||||||||||||||
<us-gaap:GainLossOnDispositionOfAssets1 contextRef="c0" decimals="-3" id="ixv-8902" unitRef="usd"> -268000 </us-gaap:GainLossOnDispositionOfAssets1> | |||||||||||||||||||||
<us-gaap:GainLossOnDispositionOfAssets1 contextRef="c6" decimals="-3" id="ixv-8903" unitRef="usd"> -16000 </us-gaap:GainLossOnDispositionOfAssets1> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInAccountsReceivable contextRef="c0" decimals="-3" id="ixv-8904" unitRef="usd"> 256000 </us-gaap:IncreaseDecreaseInAccountsReceivable> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInAccountsReceivable contextRef="c6" decimals="-3" id="ixv-8905" unitRef="usd"> -622000 </us-gaap:IncreaseDecreaseInAccountsReceivable> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInInventories contextRef="c0" decimals="-3" id="ixv-8906" unitRef="usd"> -2072000 </us-gaap:IncreaseDecreaseInInventories> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInInventories contextRef="c6" decimals="-3" id="ixv-8907" unitRef="usd"> 1713000 </us-gaap:IncreaseDecreaseInInventories> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInOtherCurrentAssets contextRef="c0" decimals="-3" id="ixv-8908" unitRef="usd"> -1581000 </us-gaap:IncreaseDecreaseInOtherCurrentAssets> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInOtherCurrentAssets contextRef="c6" decimals="-3" id="ixv-8909" unitRef="usd"> 1200000 </us-gaap:IncreaseDecreaseInOtherCurrentAssets> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities contextRef="c0" decimals="-3" id="ixv-8910" unitRef="usd"> -957000 </us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities contextRef="c6" decimals="-3" id="ixv-8911" unitRef="usd"> -2469000 </us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInOperatingLeaseLiability contextRef="c0" decimals="-3" id="ixv-8912" unitRef="usd"> -209000 </us-gaap:IncreaseDecreaseInOperatingLeaseLiability> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInOperatingLeaseLiability contextRef="c6" decimals="-3" id="ixv-8913" unitRef="usd"> -155000 </us-gaap:IncreaseDecreaseInOperatingLeaseLiability> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInOtherNoncurrentLiabilities contextRef="c0" decimals="-3" id="ixv-8914" unitRef="usd"> 667000 </us-gaap:IncreaseDecreaseInOtherNoncurrentLiabilities> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInDeferredRevenue contextRef="c0" decimals="-3" id="ixv-8915" unitRef="usd"> -49000 </us-gaap:IncreaseDecreaseInDeferredRevenue> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInDeferredRevenue contextRef="c6" decimals="-3" id="ixv-8916" unitRef="usd"> -226000 </us-gaap:IncreaseDecreaseInDeferredRevenue> | |||||||||||||||||||||
<us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="c0" decimals="-3" id="ixv-8917" unitRef="usd"> -24447000 </us-gaap:NetCashProvidedByUsedInOperatingActivities> | |||||||||||||||||||||
<us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="c6" decimals="-3" id="ixv-8918" unitRef="usd"> -26220000 </us-gaap:NetCashProvidedByUsedInOperatingActivities> | |||||||||||||||||||||
<us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="c0" decimals="-3" id="ixv-8919" unitRef="usd"> 5834000 </us-gaap:PaymentsToAcquirePropertyPlantAndEquipment> | |||||||||||||||||||||
<us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="c6" decimals="-3" id="ixv-8920" unitRef="usd"> 7985000 </us-gaap:PaymentsToAcquirePropertyPlantAndEquipment> | |||||||||||||||||||||
<us-gaap:NetCashProvidedByUsedInInvestingActivities contextRef="c0" decimals="-3" id="ixv-8921" unitRef="usd"> -5834000 </us-gaap:NetCashProvidedByUsedInInvestingActivities> | |||||||||||||||||||||
<us-gaap:NetCashProvidedByUsedInInvestingActivities contextRef="c6" decimals="-3" id="ixv-8922" unitRef="usd"> -7985000 </us-gaap:NetCashProvidedByUsedInInvestingActivities> | |||||||||||||||||||||
<us-gaap:ProceedsFromStockPlans contextRef="c0" decimals="-3" id="ixv-8923" unitRef="usd"> 52000 </us-gaap:ProceedsFromStockPlans> | |||||||||||||||||||||
<us-gaap:ProceedsFromStockPlans contextRef="c6" decimals="-3" id="ixv-8924" unitRef="usd"> 289000 </us-gaap:ProceedsFromStockPlans> | |||||||||||||||||||||
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<us-gaap:NetCashProvidedByUsedInFinancingActivities contextRef="c6" decimals="-3" id="ixv-8926" unitRef="usd"> 289000 </us-gaap:NetCashProvidedByUsedInFinancingActivities> | |||||||||||||||||||||
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<us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect contextRef="c6" decimals="-3" id="ixv-8928" unitRef="usd"> -33916000 </us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect> | |||||||||||||||||||||
<us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents contextRef="c3" decimals="-3" id="ixv-8929" unitRef="usd"> 43104000 </us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents> | |||||||||||||||||||||
<us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents contextRef="c37" decimals="-3" id="ixv-8930" unitRef="usd"> 80485000 </us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents> | |||||||||||||||||||||
<us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents contextRef="c2" decimals="-3" id="ixv-8931" unitRef="usd"> 12875000 </us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents> | |||||||||||||||||||||
<us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents contextRef="c27" decimals="-3" id="ixv-8932" unitRef="usd"> 46569000 </us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents> | |||||||||||||||||||||
<us-gaap:IncomeTaxesPaid contextRef="c6" decimals="-3" id="ixv-8933" unitRef="usd"> 40000 </us-gaap:IncomeTaxesPaid> | |||||||||||||||||||||
<akts:FixedAssetsIncludedInAccountsPayableAndAccruedExpenses contextRef="c0" decimals="-3" id="ixv-8934" unitRef="usd"> -2322000 </akts:FixedAssetsIncludedInAccountsPayableAndAccruedExpenses> | |||||||||||||||||||||
<akts:FixedAssetsIncludedInAccountsPayableAndAccruedExpenses contextRef="c6" decimals="-3" id="ixv-8935" unitRef="usd"> 100000 </akts:FixedAssetsIncludedInAccountsPayableAndAccruedExpenses> | |||||||||||||||||||||
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<us-gaap:RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability contextRef="c6" decimals="-3" id="ixv-8937" unitRef="usd"> 133000 </us-gaap:RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability> | |||||||||||||||||||||
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<us-gaap:StockIssued1 contextRef="c6" decimals="-3" id="ixv-8940" unitRef="usd"> 1364000 </us-gaap:StockIssued1> | |||||||||||||||||||||
<us-gaap:NatureOfOperations contextRef="c0" id="ixv-3794"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 1. Organization</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Akoustis Technologies, Inc. (the “Company”) was incorporated on April 10, 2013 and effective December 15, 2016, the Company changed its state of incorporation to the State of Delaware. Through its wholly-owned subsidiary, Akoustis, Inc. (a Delaware corporation), the Company, headquartered in Huntersville, North Carolina, is focused on developing, designing, and manufacturing innovative radio frequency (“RF”) filter products for the wireless industry, including for products such as smartphones and tablets, cellular infrastructure equipment, Wi-Fi Customer Premise Equipment (“CPE”), and military and defense communication applications. Located between the device’s antenna and its digital backend, the RF front-end (“RFFE”) is the circuitry that performs the analog signal processing and contains components such as amplifiers, filters and switches. To construct the resonator devices that are the building blocks for its RF filters, the Company has developed a family of novel, high purity acoustic piezoelectric materials as well as a unique microelectromechanical system (“MEMS”) wafer semiconductor process, collectively referred to as XBAW® technology. The Company leverages its integrated device manufacturing (“IDM”) business model to develop and sell high performance RF filters using its XBAW® technology. Filters are critical in selecting and rejecting signals, and their performance enables differentiation in the modules defining the RFFE. Additionally, through RFM Integrated Device, Inc. (“RFMi”), a wholly-owned subsidiary of Akoustis, Inc., the Company makes sales of complementary surface acoustic wave (“SAW”) resonators, RF filters, crystal (Xtal) resonators and oscillators, and ceramic products branded as “RFMi” products. We also offer back-end semiconductor supply chain services through our wholly owned subsidiary, Grinding & Dicing Services, Inc., which we acquired in January 2023.</p> </us-gaap:NatureOfOperations> | |||||||||||||||||||||
<dei:EntityIncorporationDateOfIncorporation contextRef="c0" id="ixv-8941"> 2013-04-10 </dei:EntityIncorporationDateOfIncorporation> | |||||||||||||||||||||
<us-gaap:LiquidationBasisOfAccountingTextBlock contextRef="c0" id="ixv-3805"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 2. Liquidity</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2023, the Company had cash and cash equivalents of $12.9 million and working capital of $11.7 million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s short-term and long-term liquidity requirements primarily arise from funding (i) research and development expenses, (ii) G&A expenses including salaries, bonuses, and commissions, (iii) working capital requirements, (iv) business acquisitions and investments we may make from time to time, and (v) interest and principal payments related to our $44.0 million aggregate principal amount of outstanding convertible notes and $4.0 million promissory note..</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has incurred losses and negative cash flow from operations since inception. Our operations thus far have been funded primarily with sales of equity and debt securities, as well as contract research and government grants, revenue with customers, foundry services and engineering services. In November 2023, we announced that we had undertaken significant expense reductions and cost-saving measures to reduce our operating cash flow burn. As a result of these cost-savings initiatives, the operating expenditures supporting the future growth of our manufacturing capabilities and expansion of our product offerings have decreased, along with decreases in research and development and headcount costs. Additionally, the Company estimates that approximately $1.6 million of additional cash is needed to complete construction in progress assets that are currently not in service, which construction has been paused as part of these cost-savings initiatives. The Company is actively managing and controlling its cash outflows to mitigate liquidity risks.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are experiencing financial and operating challenges. Although we believe we currently have sufficient resources to fund operations and planned investments for at least the next twelve months from the date of filing this report, there is no assurance that the Company’s projections and estimates are accurate. Until we are able to generate sufficient cash flow from operations to achieve and maintain profitability and meet our obligations as they come due, we will need to raise significant additional capital to sustain our business through, among other means, public or private equity offerings (including sales of our common stock under our at-the-market equity offering program), debt financings, real estate- or equipment-based financing arrangements, corporate collaborations and/or licensing arrangements. In January 2024, we completed a public offering of our common stock raising $10.4 million in net proceeds.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Except for the $48.0 million of common stock remaining available to be sold under its ATM Sales Agreement with Oppenheimer & Co. Inc., Craig-Hallum Capital Group LLC, and Roth Capital Partners, LLC, the Company has no commitments or arrangements to obtain any additional funds, and there can be no assurance such funds will be available on acceptable terms or at all.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If the Company is unable to obtain additional financing in a timely fashion and on acceptable terms, its financial condition and results of operations may be materially adversely affected and it may not be able to continue operations or execute its stated commercialization plan.</span></p> </us-gaap:LiquidationBasisOfAccountingTextBlock> | |||||||||||||||||||||
<us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="c2" decimals="-5" id="ixv-8942" unitRef="usd"> 12900000 </us-gaap:CashAndCashEquivalentsAtCarryingValue> | |||||||||||||||||||||
<akts:WorkingCapital contextRef="c2" decimals="-5" id="ixv-8943" unitRef="usd"> 11700000 </akts:WorkingCapital> | |||||||||||||||||||||
<us-gaap:LiquidationBasisOfAccountingRemeasurementGainLossOnAsset contextRef="c0" decimals="-5" id="ixv-8944" unitRef="usd"> 44000000 </us-gaap:LiquidationBasisOfAccountingRemeasurementGainLossOnAsset> | |||||||||||||||||||||
<akts:PromissoryNote contextRef="c0" decimals="-5" id="ixv-8945" unitRef="usd"> 4000000 </akts:PromissoryNote> | |||||||||||||||||||||
<us-gaap:OtherAdditionalCapital contextRef="c2" decimals="-5" id="ixv-8946" unitRef="usd"> 1600000 </us-gaap:OtherAdditionalCapital> | |||||||||||||||||||||
<akts:NetProceeds contextRef="c41" decimals="-5" id="ixv-8947" unitRef="usd"> 10400000 </akts:NetProceeds> | |||||||||||||||||||||
<akts:CommonStockRemainingAmount contextRef="c2" decimals="-5" id="ixv-8948" unitRef="usd"> 48000000 </akts:CommonStockRemainingAmount> | |||||||||||||||||||||
<us-gaap:SignificantAccountingPoliciesTextBlock contextRef="c0" id="ixv-3831"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 3. Summary of Significant Accounting Policies</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Basis of Presentation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information and the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. In the opinion of management, all adjustments (consisting of normal accruals) considered necessary for a fair presentation have been included. The Company has evaluated subsequent events through the filing of this Form 10-Q. Operating results for the quarter ended December 31, 2023 are not necessarily indicative of the results that may be expected for the year ending June 30, 2024 or any future interim period. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Form 10-K filed with the SEC on September 6, 2023 (the “2023 Annual Report”).</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Principles of Consolidation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries as of December 31, 2023, Akoustis, Inc., RFM Integrated Device, Inc., and Grinding & Dicing Services, Inc. All significant intercompany accounts and transactions have been eliminated in consolidation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Significant Accounting Policies and Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s significant accounting policies are disclosed in Note 3. Summary of Significant Accounting Policies in the 2023 Annual Report. Since the date of the 2023 Annual Report, there have been no material changes to the Company’s significant accounting policies. The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements and the accompanying notes thereto. The policies, estimates and assumptions include valuing equity securities, derivative liabilities, deferred taxes and related valuation allowances, contingent consideration, goodwill, intangible assets, revenue recognition, and the fair values of long-lived assets. Actual results could differ from the estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Recently Issued Accounting Pronouncements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” which requires a current lifetime expected credit loss methodology to be used to measure impairments of accounts receivable and other financial assets. Using this methodology will result in earlier recognition of losses than under the previous incurred loss approach, which requires waiting to recognize a loss until it is probable of being incurred. The Company adopted the standard, which applies to its accounts receivables, in the first quarter of fiscal 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under this new standard, trade receivables are now evaluated on a collective (pool) basis and aggregated on the basis of similar risk characteristics. These aggregated risk pools will be reassessed at each measurement date. A combination of factors is considered in determining the appropriate estimate of expected credit losses which include broad-based economic indicators as well as customers’ financial strength, credit standing, payment history and any historical defaults.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The adoption of this standard using the modified retrospective transition method resulted in a cumulative-effect adjustment to retained earnings of $201 thousand.</span></p> </us-gaap:SignificantAccountingPoliciesTextBlock> | |||||||||||||||||||||
<us-gaap:BasisOfAccountingPolicyPolicyTextBlock contextRef="c0" id="ixv-3837"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Basis of Presentation</span></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information and the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. In the opinion of management, all adjustments (consisting of normal accruals) considered necessary for a fair presentation have been included. The Company has evaluated subsequent events through the filing of this Form 10-Q. Operating results for the quarter ended December 31, 2023 are not necessarily indicative of the results that may be expected for the year ending June 30, 2024 or any future interim period. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Form 10-K filed with the SEC on September 6, 2023 (the “2023 Annual Report”).</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> </us-gaap:BasisOfAccountingPolicyPolicyTextBlock> | |||||||||||||||||||||
<us-gaap:ConsolidationPolicyTextBlock contextRef="c0" id="ixv-3867"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Principles of Consolidation</span></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries as of December 31, 2023, Akoustis, Inc., RFM Integrated Device, Inc., and Grinding & Dicing Services, Inc. All significant intercompany accounts and transactions have been eliminated in consolidation.</span></p> </us-gaap:ConsolidationPolicyTextBlock> | |||||||||||||||||||||
<us-gaap:UseOfEstimates contextRef="c0" id="ixv-3879"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Significant Accounting Policies and Estimates</span></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s significant accounting policies are disclosed in Note 3. Summary of Significant Accounting Policies in the 2023 Annual Report. Since the date of the 2023 Annual Report, there have been no material changes to the Company’s significant accounting policies. The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements and the accompanying notes thereto. The policies, estimates and assumptions include valuing equity securities, derivative liabilities, deferred taxes and related valuation allowances, contingent consideration, goodwill, intangible assets, revenue recognition, and the fair values of long-lived assets. Actual results could differ from the estimates.</span></p> </us-gaap:UseOfEstimates> | |||||||||||||||||||||
<us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock contextRef="c0" id="ixv-3891"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Recently Issued Accounting Pronouncements</span></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” which requires a current lifetime expected credit loss methodology to be used to measure impairments of accounts receivable and other financial assets. Using this methodology will result in earlier recognition of losses than under the previous incurred loss approach, which requires waiting to recognize a loss until it is probable of being incurred. The Company adopted the standard, which applies to its accounts receivables, in the first quarter of fiscal 2024.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under this new standard, trade receivables are now evaluated on a collective (pool) basis and aggregated on the basis of similar risk characteristics. These aggregated risk pools will be reassessed at each measurement date. A combination of factors is considered in determining the appropriate estimate of expected credit losses which include broad-based economic indicators as well as customers’ financial strength, credit standing, payment history and any historical defaults.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The adoption of this standard using the modified retrospective transition method resulted in a cumulative-effect adjustment to retained earnings of $201 thousand.</span></p> </us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock> | |||||||||||||||||||||
<us-gaap:RetainedEarningsUnappropriated contextRef="c2" decimals="-3" id="ixv-8949" unitRef="usd"> 201000 </us-gaap:RetainedEarningsUnappropriated> | |||||||||||||||||||||
<us-gaap:RevenueFromContractWithCustomerTextBlock contextRef="c0" id="ixv-3915"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 4. Revenue Recognition from Contracts with Customers</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Disaggregation of Revenue</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s primary revenue streams include fabrication services and product sales across multiple geographic regions, primarily the Americas, Asia and Europe.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Fabrication Services</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fabrication services revenue includes Non-Recurring Engineering (“NRE”) and backend packaging services. Under these contracts, products are delivered to the customer at the completion of the service which represents satisfaction of the performance obligation as well as transfer of title. Depending on language with regards to enforceable right to payment for performance completed to date, related revenue will either be recognized over time or at a point in time.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Product Sales</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Product sales revenue consists of sales of RF filters and amps which are sold with contract terms stating that title passes, and the customer takes control, at the time of shipment. Revenue is then recognized when the devices are shipped, and the performance obligation has been satisfied. If devices are sold under contract terms that specify that the customer does not take ownership until the goods are received, revenue is recognized when the customer receives the goods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table summarizes the revenues of the Company’s reportable segments by geographic region for the three months ended December 31, 2023 (in thousands):</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fabrication<br/> Services<br/> Revenue</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Product<br/> Sales<br/> Revenue</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total<br/> Revenue<br/> with<br/> Customers</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Americas</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,151</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">166</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,317</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Asia</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">134</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,628</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,762</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Europe</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">13</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">925</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">938</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,298</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,719</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">7,017</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table summarizes the revenues of the Company’s reportable segments by geographic region for the six months ended December 31, 2023 (in thousands):</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fabrication<br/> Services<br/> Revenue</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Product<br/> Sales<br/> Revenue</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total<br/> Revenue<br/> with<br/> Customers</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Americas</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,435</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">882</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">6,317</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Asia</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">403</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,665</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,068</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Europe</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">122</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,512</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,634</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">5,960</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">8,059</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">14,019</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table summarizes the revenues of the Company’s reportable segments by geographic region for the three months ended December 31, 2022 (in thousands):</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fabrication<br/> Services<br/> Revenue</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Product<br/> Sales<br/> Revenue</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total<br/> Revenue<br/> with<br/> Customers</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Americas</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,143</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,223</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,366</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Asia</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">748</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,759</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,507</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Europe</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-55">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">992</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">992</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,891</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,974</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">5,865</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table summarizes the revenues of the Company’s reportable segments by geographic region for the six months ended December 31, 2022 (in thousands):</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Fabrication<br/> Services<br/> Revenue</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Product<br/> Sales<br/> Revenue</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Total<br/> Revenue<br/> with<br/> Customers</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Americas</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,849</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,136</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,985</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Asia</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">975</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,834</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,809</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Europe</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-56">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,628</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,628</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-57">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">10</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">10</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,824</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">8,608</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">11,432</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Performance Obligations</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has determined that contracts for product sales revenue and fabrication services revenue involve one performance obligation, which is delivery of the final product.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Contract Balances</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the changes in the opening and closing balances of the Company’s contract asset (included in Other current assets on the Consolidated Balance Sheet) and contract liability (included as Deferred revenue on the Consolidated Balance Sheet) for the first six months of fiscal years 2024 and 2023 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Contract<br/> Assets</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Contract<br/> Liability</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Balance, June 30, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,894</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">70</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Closing, December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,253</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Increase/(Decrease)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(641</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(14</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance, June 30, 2022</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">923</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">286</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Closing, December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,334</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">60</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Increase/(Decrease)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,411</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(226</td><td style="text-align: left">)</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company records a receivable when the title for goods has transferred. Generally, all sales are contract sales (with either an underlying contract or purchase order), resulting in all receivables being contract receivables. When invoicing occurs prior to revenue recognition a contract liability is recorded (as deferred revenue on the Condensed Consolidated Balance Sheets). The amount of revenue recognized in the six months ended December 31, 2023, that was included in the opening contract liability balance was $70 thousand which related to timing of shipments.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Contract assets are recorded when revenue recognized exceeds the amount invoiced. The difference between the opening and closing balances of the Company’s contract assets and contract liabilities primarily results from the timing difference between the Company’s performance and the customer’s payment. The amount of contract assets invoiced in the six months ended December 31, 2023, that was included in the opening contract asset balance was $1.8 million, which primarily related to non-recurring engineering services.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Backlog of Remaining Customer Performance Obligations</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2023, the Company had partially unsatisfied performance obligations related to contracts with an original expected duration of greater than one year. Revenue expected to be recognized from these performance obligations was $1.7 million as of December 31, 2023. The Company’s backlog may vary significantly each reporting period based on the timing of major new contract commitments. In addition, our customers have the right, under some infrequent circumstances, to terminate contracts or defer the timing of the Company’s services and their payments to us.</p> </us-gaap:RevenueFromContractWithCustomerTextBlock> | |||||||||||||||||||||
<us-gaap:ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock contextRef="c0" id="ixv-8950"> The following table summarizes the revenues of the Company’s reportable segments by geographic region for the three months ended December 31, 2023 (in thousands):<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fabrication<br/> Services<br/> Revenue</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Product<br/> Sales<br/> Revenue</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total<br/> Revenue<br/> with<br/> Customers</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Americas</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,151</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">166</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,317</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Asia</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">134</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,628</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,762</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Europe</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">13</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">925</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">938</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,298</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,719</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">7,017</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>The following table summarizes the revenues of the Company’s reportable segments by geographic region for the six months ended December 31, 2023 (in thousands):<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fabrication<br/> Services<br/> Revenue</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Product<br/> Sales<br/> Revenue</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total<br/> Revenue<br/> with<br/> Customers</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Americas</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,435</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">882</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">6,317</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Asia</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">403</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,665</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,068</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Europe</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">122</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,512</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,634</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">5,960</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">8,059</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">14,019</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>The following table summarizes the revenues of the Company’s reportable segments by geographic region for the three months ended December 31, 2022 (in thousands):<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fabrication<br/> Services<br/> Revenue</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Product<br/> Sales<br/> Revenue</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total<br/> Revenue<br/> with<br/> Customers</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Americas</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,143</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,223</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,366</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Asia</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">748</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,759</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,507</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Europe</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-55">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">992</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">992</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,891</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,974</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">5,865</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>The following table summarizes the revenues of the Company’s reportable segments by geographic region for the six months ended December 31, 2022 (in thousands):<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Fabrication<br/> Services<br/> Revenue</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Product<br/> Sales<br/> Revenue</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Total<br/> Revenue<br/> with<br/> Customers</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Americas</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,849</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,136</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,985</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Asia</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">975</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,834</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,809</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Europe</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-56">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,628</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,628</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-57">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">10</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">10</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,824</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">8,608</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">11,432</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> </us-gaap:ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c43" decimals="-3" id="ixv-8951" unitRef="usd"> 3151000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c44" decimals="-3" id="ixv-8952" unitRef="usd"> 166000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c45" decimals="-3" id="ixv-8953" unitRef="usd"> 3317000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c46" decimals="-3" id="ixv-8954" unitRef="usd"> 134000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c47" decimals="-3" id="ixv-8955" unitRef="usd"> 2628000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c48" decimals="-3" id="ixv-8956" unitRef="usd"> 2762000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c49" decimals="-3" id="ixv-8957" unitRef="usd"> 13000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c50" decimals="-3" id="ixv-8958" unitRef="usd"> 925000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c51" decimals="-3" id="ixv-8959" unitRef="usd"> 938000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c52" decimals="-3" id="ixv-8960" unitRef="usd"> 3298000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c53" decimals="-3" id="ixv-8961" unitRef="usd"> 3719000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c4" decimals="-3" id="ixv-8962" unitRef="usd"> 7017000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c54" decimals="-3" id="ixv-8964" unitRef="usd"> 5435000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c55" decimals="-3" id="ixv-8965" unitRef="usd"> 882000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c56" decimals="-3" id="ixv-8966" unitRef="usd"> 6317000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c57" decimals="-3" id="ixv-8967" unitRef="usd"> 403000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c58" decimals="-3" id="ixv-8968" unitRef="usd"> 5665000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c59" decimals="-3" id="ixv-8969" unitRef="usd"> 6068000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c60" decimals="-3" id="ixv-8970" unitRef="usd"> 122000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c61" decimals="-3" id="ixv-8971" unitRef="usd"> 1512000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c62" decimals="-3" id="ixv-8972" unitRef="usd"> 1634000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c63" decimals="-3" id="ixv-8973" unitRef="usd"> 5960000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c64" decimals="-3" id="ixv-8974" unitRef="usd"> 8059000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c0" decimals="-3" id="ixv-8975" unitRef="usd"> 14019000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c65" decimals="-3" id="ixv-8977" unitRef="usd"> 1143000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c66" decimals="-3" id="ixv-8978" unitRef="usd"> 1223000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c67" decimals="-3" id="ixv-8979" unitRef="usd"> 2366000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c68" decimals="-3" id="ixv-8980" unitRef="usd"> 748000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c69" decimals="-3" id="ixv-8981" unitRef="usd"> 1759000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c70" decimals="-3" id="ixv-8982" unitRef="usd"> 2507000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c72" decimals="-3" id="ixv-8983" unitRef="usd"> 992000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c73" decimals="-3" id="ixv-8984" unitRef="usd"> 992000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c74" decimals="-3" id="ixv-8985" unitRef="usd"> 1891000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c75" decimals="-3" id="ixv-8986" unitRef="usd"> 3974000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c5" decimals="-3" id="ixv-8987" unitRef="usd"> 5865000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c76" decimals="-3" id="ixv-8989" unitRef="usd"> 1849000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c77" decimals="-3" id="ixv-8990" unitRef="usd"> 2136000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c78" decimals="-3" id="ixv-8991" unitRef="usd"> 3985000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c79" decimals="-3" id="ixv-8992" unitRef="usd"> 975000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c80" decimals="-3" id="ixv-8993" unitRef="usd"> 4834000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c81" decimals="-3" id="ixv-8994" unitRef="usd"> 5809000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c83" decimals="-3" id="ixv-8995" unitRef="usd"> 1628000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c84" decimals="-3" id="ixv-8996" unitRef="usd"> 1628000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c86" decimals="-3" id="ixv-8997" unitRef="usd"> 10000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c87" decimals="-3" id="ixv-8998" unitRef="usd"> 10000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c88" decimals="-3" id="ixv-8999" unitRef="usd"> 2824000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c89" decimals="-3" id="ixv-9000" unitRef="usd"> 8608000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c6" decimals="-3" id="ixv-9001" unitRef="usd"> 11432000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:ContractWithCustomerAssetAndLiabilityTableTextBlock contextRef="c0" id="ixv-9002"> The following table summarizes the changes in the opening and closing balances of the Company’s contract asset (included in Other current assets on the Consolidated Balance Sheet) and contract liability<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Contract<br/> Assets</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Contract<br/> Liability</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Balance, June 30, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,894</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">70</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Closing, December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,253</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Increase/(Decrease)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(641</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(14</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance, June 30, 2022</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">923</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">286</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Closing, December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,334</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">60</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Increase/(Decrease)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,411</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(226</td><td style="text-align: left">)</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> </us-gaap:ContractWithCustomerAssetAndLiabilityTableTextBlock> | |||||||||||||||||||||
<akts:ContractAssets contextRef="c3" decimals="-3" id="ixv-9003" unitRef="usd"> 1894000 </akts:ContractAssets> | |||||||||||||||||||||
<us-gaap:ContractWithCustomerLiability contextRef="c3" decimals="-3" id="ixv-9004" unitRef="usd"> 70000 </us-gaap:ContractWithCustomerLiability> | |||||||||||||||||||||
<akts:ContractAssets contextRef="c2" decimals="-3" id="ixv-9005" unitRef="usd"> 1253000 </akts:ContractAssets> | |||||||||||||||||||||
<us-gaap:ContractWithCustomerLiability contextRef="c2" decimals="-3" id="ixv-9006" unitRef="usd"> 56000 </us-gaap:ContractWithCustomerLiability> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInContractWithCustomerAsset contextRef="c0" decimals="-3" id="ixv-9007" unitRef="usd"> 641000 </us-gaap:IncreaseDecreaseInContractWithCustomerAsset> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInContractWithCustomerLiability contextRef="c0" decimals="-3" id="ixv-9008" unitRef="usd"> -14000 </us-gaap:IncreaseDecreaseInContractWithCustomerLiability> | |||||||||||||||||||||
<akts:ContractAssets contextRef="c37" decimals="-3" id="ixv-9009" unitRef="usd"> 923000 </akts:ContractAssets> | |||||||||||||||||||||
<us-gaap:ContractWithCustomerLiability contextRef="c37" decimals="-3" id="ixv-9010" unitRef="usd"> 286000 </us-gaap:ContractWithCustomerLiability> | |||||||||||||||||||||
<akts:ContractAssets contextRef="c27" decimals="-3" id="ixv-9011" unitRef="usd"> 2334000 </akts:ContractAssets> | |||||||||||||||||||||
<us-gaap:ContractWithCustomerLiability contextRef="c27" decimals="-3" id="ixv-9012" unitRef="usd"> 60000 </us-gaap:ContractWithCustomerLiability> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInContractWithCustomerAsset contextRef="c6" decimals="-3" id="ixv-9013" unitRef="usd"> -1411000 </us-gaap:IncreaseDecreaseInContractWithCustomerAsset> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInContractWithCustomerLiability contextRef="c6" decimals="-3" id="ixv-9014" unitRef="usd"> -226000 </us-gaap:IncreaseDecreaseInContractWithCustomerLiability> | |||||||||||||||||||||
<us-gaap:ContractWithCustomerLiabilityCurrent contextRef="c2" decimals="-3" id="ixv-9015" unitRef="usd"> 70000 </us-gaap:ContractWithCustomerLiabilityCurrent> | |||||||||||||||||||||
<akts:OpeningContractAssetBalance contextRef="c42" decimals="-2" id="ixv-9016" unitRef="usd"> 1800 </akts:OpeningContractAssetBalance> | |||||||||||||||||||||
<us-gaap:DeferredRevenueRevenueRecognized1 contextRef="c0" decimals="-5" id="ixv-9017" unitRef="usd"> 1700000 </us-gaap:DeferredRevenueRevenueRecognized1> | |||||||||||||||||||||
<us-gaap:InventoryDisclosureTextBlock contextRef="c0" id="ixv-4441"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 5: Inventory</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventory, net of reserves, consisted of the following as of December 31, 2023 and June 30, 2023 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, <br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Raw Materials</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,736</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,574</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Work in Process</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,289</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,741</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Finished Goods</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,451</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,233</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt">Total Inventory</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">5,476</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">7,548</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> </us-gaap:InventoryDisclosureTextBlock> | |||||||||||||||||||||
<us-gaap:ScheduleOfInventoryCurrentTableTextBlock contextRef="c0" id="ixv-4448"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventory, net of reserves, consisted of the following as of December 31, 2023 and June 30, 2023 (in thousands):</span><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, <br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Raw Materials</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,736</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,574</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Work in Process</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,289</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,741</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Finished Goods</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,451</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,233</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt">Total Inventory</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">5,476</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">7,548</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> </us-gaap:ScheduleOfInventoryCurrentTableTextBlock> | |||||||||||||||||||||
<us-gaap:InventoryRawMaterials contextRef="c2" decimals="-3" id="ixv-9018" unitRef="usd"> 1736000 </us-gaap:InventoryRawMaterials> | |||||||||||||||||||||
<us-gaap:InventoryRawMaterials contextRef="c3" decimals="-3" id="ixv-9019" unitRef="usd"> 1574000 </us-gaap:InventoryRawMaterials> | |||||||||||||||||||||
<us-gaap:InventoryWorkInProcess contextRef="c2" decimals="-3" id="ixv-9020" unitRef="usd"> 1289000 </us-gaap:InventoryWorkInProcess> | |||||||||||||||||||||
<us-gaap:InventoryWorkInProcess contextRef="c3" decimals="-3" id="ixv-9021" unitRef="usd"> 3741000 </us-gaap:InventoryWorkInProcess> | |||||||||||||||||||||
<us-gaap:InventoryFinishedGoods contextRef="c2" decimals="-3" id="ixv-9022" unitRef="usd"> 2451000 </us-gaap:InventoryFinishedGoods> | |||||||||||||||||||||
<us-gaap:InventoryFinishedGoods contextRef="c3" decimals="-3" id="ixv-9023" unitRef="usd"> 2233000 </us-gaap:InventoryFinishedGoods> | |||||||||||||||||||||
<us-gaap:InventoryNet contextRef="c2" decimals="-3" id="ixv-9024" unitRef="usd"> 5476000 </us-gaap:InventoryNet> | |||||||||||||||||||||
<us-gaap:InventoryNet contextRef="c3" decimals="-3" id="ixv-9025" unitRef="usd"> 7548000 </us-gaap:InventoryNet> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="c0" id="ixv-4508"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 6. Property and Equipment, net</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, net consisted of the following as of December 31, 2023 and June 30, 2023 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Estimated<br/> Useful Life</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, <br/> 2023</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30,<br/> 2023</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 66%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Land</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 11%; text-align: center"><span style="-sec-ix-hidden: hidden-fact-58; font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="width: 8%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,000</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="width: 8%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,000</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Building and leasehold improvements</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="-sec-ix-hidden: hidden-fact-59; font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,399</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,016</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equipment</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2-10 years</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">74,437</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">71,151</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Computer Equipment & Software</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3-5 years</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,795</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,168</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">87,631</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">84,335</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: Accumulated Depreciation</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(31,433</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(26,509</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>56,198</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>57,826</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(*)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leasehold improvements are amortized on a straight-line basis over the term of the lease or the estimated useful lives, whichever is shorter. Buildings are amortized on a straight-line basis between 11 and 39 years.</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recorded depreciation expense of $2.6 million and $2.3 million for the three months ended December 31, 2023 and 2022, respectively. The Company recorded depreciation expense of $4.9 million and $4.4 million for the six months ended December 31, 2023 and 2022, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2023, equipment with a net book value totaling $7.4 million had not been placed in service and therefore was not depreciated during the period. As of June 30, 2023, fixed assets with a net book value totaling $7.1 million had not been placed in service and therefore was not depreciated during the period.</span></p> </us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentTextBlock contextRef="c0" id="ixv-4515"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, net consisted of the following as of December 31, 2023 and June 30, 2023 (in thousands):</span><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Estimated<br/> Useful Life</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, <br/> 2023</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30,<br/> 2023</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 66%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Land</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 11%; text-align: center"><span style="-sec-ix-hidden: hidden-fact-58; font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="width: 8%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,000</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="width: 8%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,000</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Building and leasehold improvements</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="-sec-ix-hidden: hidden-fact-59; font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,399</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,016</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equipment</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2-10 years</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">74,437</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">71,151</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Computer Equipment & Software</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3-5 years</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,795</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,168</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">87,631</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">84,335</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: Accumulated Depreciation</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(31,433</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(26,509</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>56,198</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>57,826</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(*)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leasehold improvements are amortized on a straight-line basis over the term of the lease or the estimated useful lives, whichever is shorter. Buildings are amortized on a straight-line basis between 11 and 39 years.</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> </us-gaap:PropertyPlantAndEquipmentTextBlock> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentGross contextRef="c93" decimals="-3" id="ixv-9026" unitRef="usd"> 1000000 </us-gaap:PropertyPlantAndEquipmentGross> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentGross contextRef="c92" decimals="-3" id="ixv-9027" unitRef="usd"> 1000000 </us-gaap:PropertyPlantAndEquipmentGross> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentGross contextRef="c95" decimals="-3" id="ixv-9028" unitRef="usd"> 9399000 </us-gaap:PropertyPlantAndEquipmentGross> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentGross contextRef="c94" decimals="-3" id="ixv-9029" unitRef="usd"> 9016000 </us-gaap:PropertyPlantAndEquipmentGross> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="c96" id="ixv-9030"> P2Y </us-gaap:PropertyPlantAndEquipmentUsefulLife> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="c97" id="ixv-9031"> P10Y </us-gaap:PropertyPlantAndEquipmentUsefulLife> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentGross contextRef="c90" decimals="-3" id="ixv-9032" unitRef="usd"> 74437000 </us-gaap:PropertyPlantAndEquipmentGross> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentGross contextRef="c98" decimals="-3" id="ixv-9033" unitRef="usd"> 71151000 </us-gaap:PropertyPlantAndEquipmentGross> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="c99" id="ixv-9034"> P3Y </us-gaap:PropertyPlantAndEquipmentUsefulLife> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="c100" id="ixv-9035"> P5Y </us-gaap:PropertyPlantAndEquipmentUsefulLife> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentGross contextRef="c101" decimals="-3" id="ixv-9036" unitRef="usd"> 2795000 </us-gaap:PropertyPlantAndEquipmentGross> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentGross contextRef="c102" decimals="-3" id="ixv-9037" unitRef="usd"> 3168000 </us-gaap:PropertyPlantAndEquipmentGross> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentGross contextRef="c2" decimals="-3" id="ixv-9038" unitRef="usd"> 87631000 </us-gaap:PropertyPlantAndEquipmentGross> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentGross contextRef="c3" decimals="-3" id="ixv-9039" unitRef="usd"> 84335000 </us-gaap:PropertyPlantAndEquipmentGross> | |||||||||||||||||||||
<us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment contextRef="c2" decimals="-3" id="ixv-9040" unitRef="usd"> 31433000 </us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment> | |||||||||||||||||||||
<us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment contextRef="c3" decimals="-3" id="ixv-9041" unitRef="usd"> 26509000 </us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentNet contextRef="c2" decimals="-3" id="ixv-9042" unitRef="usd"> 56198000 </us-gaap:PropertyPlantAndEquipmentNet> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentNet contextRef="c3" decimals="-3" id="ixv-9043" unitRef="usd"> 57826000 </us-gaap:PropertyPlantAndEquipmentNet> | |||||||||||||||||||||
<us-gaap:Depreciation contextRef="c4" decimals="-5" id="ixv-9044" unitRef="usd"> 2600000 </us-gaap:Depreciation> | |||||||||||||||||||||
<us-gaap:Depreciation contextRef="c5" decimals="-5" id="ixv-9045" unitRef="usd"> 2300000 </us-gaap:Depreciation> | |||||||||||||||||||||
<us-gaap:Depreciation contextRef="c0" decimals="-5" id="ixv-9046" unitRef="usd"> 4900000 </us-gaap:Depreciation> | |||||||||||||||||||||
<us-gaap:Depreciation contextRef="c6" decimals="-5" id="ixv-9047" unitRef="usd"> 4400000 </us-gaap:Depreciation> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentSalvageValue contextRef="c90" decimals="-5" id="ixv-9048" unitRef="usd"> 7400000 </us-gaap:PropertyPlantAndEquipmentSalvageValue> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentSalvageValue contextRef="c91" decimals="-5" id="ixv-9049" unitRef="usd"> 7100000 </us-gaap:PropertyPlantAndEquipmentSalvageValue> | |||||||||||||||||||||
<us-gaap:BusinessCombinationDisclosureTextBlock contextRef="c0" id="ixv-4752"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 7. Business Acquisition</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration:underline">Grinding & Dicing Services, Inc.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 1, 2023 (the “Closing Date”), the Company and its wholly-owned subsidiary, Akoustis, Inc. (the “Purchaser”), entered into a Stock Purchase Agreement (the “Purchase Agreement”) with GDSI and the stockholders of GDSI (the “Sellers”). Pursuant to the Purchase Agreement, the Purchaser acquired all of the outstanding capital stock of GDSI (such acquisition, the “Transaction”). The acquisition is expected to support a strategy to reshore operations to the United States, improve rapid prototype and development cycle time, and provide prototype cost savings.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The total consideration paid to the Sellers at closing of the Transaction consisted of $13.9 million in cash and approximately $1.7 million of shares of the Company’s common stock. In addition, the Company issued a secured promissory note (the “Promissory Note”) in the original principal amount of $4.0 million issued by the Purchaser to the Sellers’ representative with the terms described under 10. Notes Payable below.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Pro Forma Results</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following unaudited pro forma financial information summarizes the results of operations for the three and six months ended December 31, 2023 and 2022 as if the GDSI acquisition had been completed as of July 1, 2022 (in thousands). The pro forma results were calculated applying the Company’s accounting policies and include the effects of adjustments related to the amortization charges from the acquired intangibles. The unaudited pro forma information does not purport to be indicative of the results that would have been obtained if the acquisition had actually occurred at the beginning of the year prior to acquisition, nor of the results that may be reported in the future.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three Months Ended <br/> December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Six Months Ended <br/> December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unaudited <br/> Proforma</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unaudited <br/> Proforma</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unaudited <br/> Proforma</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unaudited <br/> Proforma</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Revenues</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">7,017</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">7,619</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">14,019</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">15,012</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Net Loss</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(15,711</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(11,068</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(35,840</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(30,047</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Net Loss per Share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.21</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.19</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.49</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.52</td><td style="text-align: left">)</td></tr> </table> </us-gaap:BusinessCombinationDisclosureTextBlock> | |||||||||||||||||||||
<us-gaap:PaymentsToAcquireInvestments contextRef="c103" decimals="-5" id="ixv-9050" unitRef="usd"> 13900000 </us-gaap:PaymentsToAcquireInvestments> | |||||||||||||||||||||
<us-gaap:BusinessCombinationConsiderationTransferred1 contextRef="c103" decimals="-5" id="ixv-9051" unitRef="usd"> 1700000 </us-gaap:BusinessCombinationConsiderationTransferred1> | |||||||||||||||||||||
<us-gaap:DebtInstrumentIssuedPrincipal contextRef="c104" decimals="-5" id="ixv-9052" unitRef="usd"> 4000000 </us-gaap:DebtInstrumentIssuedPrincipal> | |||||||||||||||||||||
<us-gaap:BusinessAcquisitionProFormaInformationTextBlock contextRef="c0" id="ixv-9053"> The unaudited pro forma information does not purport to be indicative of the results that would have been obtained if the acquisition had actually occurred at the beginning of the year prior to acquisition, nor of the results that may be reported in the future.<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three Months Ended <br/> December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Six Months Ended <br/> December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unaudited <br/> Proforma</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unaudited <br/> Proforma</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unaudited <br/> Proforma</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unaudited <br/> Proforma</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Revenues</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">7,017</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">7,619</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">14,019</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">15,012</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Net Loss</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(15,711</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(11,068</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(35,840</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(30,047</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Net Loss per Share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.21</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.19</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.49</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.52</td><td style="text-align: left">)</td></tr> </table> </us-gaap:BusinessAcquisitionProFormaInformationTextBlock> | |||||||||||||||||||||
<us-gaap:BusinessAcquisitionsProFormaRevenue contextRef="c105" decimals="-3" id="ixv-9054" unitRef="usd"> 7017000 </us-gaap:BusinessAcquisitionsProFormaRevenue> | |||||||||||||||||||||
<us-gaap:BusinessAcquisitionsProFormaRevenue contextRef="c106" decimals="-3" id="ixv-9055" unitRef="usd"> 7619000 </us-gaap:BusinessAcquisitionsProFormaRevenue> | |||||||||||||||||||||
<us-gaap:BusinessAcquisitionsProFormaRevenue contextRef="c107" decimals="-3" id="ixv-9056" unitRef="usd"> 14019000 </us-gaap:BusinessAcquisitionsProFormaRevenue> | |||||||||||||||||||||
<us-gaap:BusinessAcquisitionsProFormaRevenue contextRef="c108" decimals="-3" id="ixv-9057" unitRef="usd"> 15012000 </us-gaap:BusinessAcquisitionsProFormaRevenue> | |||||||||||||||||||||
<us-gaap:BusinessAcquisitionsProFormaNetIncomeLoss contextRef="c105" decimals="-3" id="ixv-9058" unitRef="usd"> -15711000 </us-gaap:BusinessAcquisitionsProFormaNetIncomeLoss> | |||||||||||||||||||||
<us-gaap:BusinessAcquisitionsProFormaNetIncomeLoss contextRef="c106" decimals="-3" id="ixv-9059" unitRef="usd"> -11068000 </us-gaap:BusinessAcquisitionsProFormaNetIncomeLoss> | |||||||||||||||||||||
<us-gaap:BusinessAcquisitionsProFormaNetIncomeLoss contextRef="c107" decimals="-3" id="ixv-9060" unitRef="usd"> -35840000 </us-gaap:BusinessAcquisitionsProFormaNetIncomeLoss> | |||||||||||||||||||||
<us-gaap:BusinessAcquisitionsProFormaNetIncomeLoss contextRef="c108" decimals="-3" id="ixv-9061" unitRef="usd"> -30047000 </us-gaap:BusinessAcquisitionsProFormaNetIncomeLoss> | |||||||||||||||||||||
<us-gaap:BusinessAcquisitionProFormaEarningsPerShareBasic contextRef="c105" decimals="2" id="ixv-9062" unitRef="usdPershares"> -0.21 </us-gaap:BusinessAcquisitionProFormaEarningsPerShareBasic> | |||||||||||||||||||||
<us-gaap:BusinessAcquisitionProFormaEarningsPerShareBasic contextRef="c106" decimals="2" id="ixv-9063" unitRef="usdPershares"> -0.19 </us-gaap:BusinessAcquisitionProFormaEarningsPerShareBasic> | |||||||||||||||||||||
<us-gaap:BusinessAcquisitionProFormaEarningsPerShareBasic contextRef="c107" decimals="2" id="ixv-9064" unitRef="usdPershares"> -0.49 </us-gaap:BusinessAcquisitionProFormaEarningsPerShareBasic> | |||||||||||||||||||||
<us-gaap:BusinessAcquisitionProFormaEarningsPerShareBasic contextRef="c108" decimals="2" id="ixv-9065" unitRef="usdPershares"> -0.52 </us-gaap:BusinessAcquisitionProFormaEarningsPerShareBasic> | |||||||||||||||||||||
<us-gaap:GoodwillDisclosureTextBlock contextRef="c0" id="ixv-4882"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 8. Goodwill</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company performs an annual test for goodwill impairment during its last fiscal quarter. The Company will also test for impairment between annual test dates if an event occurs or circumstances change that would indicate the carrying amount may be impaired.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the second quarter ended December 31, 2023, the Company observed continuing declines in its stock price (with increases and decreases throughout the fiscal year) from a high of $3.20 on July 3, 2023 to a low of $0.48 on October 30, 2023, which led it to conclude that a triggering event had occurred and therefore the Company performed a quantitative test for its two reporting units. Based on the results of the impairment analyses, the Company concluded that the fair values of the reporting units exceed their respective carrying values; therefore, there was no goodwill impairment. However, for the RF Filter reporting unit, the fair value of the reporting unit exceeded its carrying value by less than 10%, indicating that the goodwill of this reporting unit may be at risk of impairment.</p> </us-gaap:GoodwillDisclosureTextBlock> | |||||||||||||||||||||
<us-gaap:StockOptionExercisePriceIncrease contextRef="c0" decimals="2" id="ixv-9066" unitRef="usdPershares"> 3.2 </us-gaap:StockOptionExercisePriceIncrease> | |||||||||||||||||||||
<us-gaap:StockOptionExercisePriceDecrease contextRef="c0" decimals="2" id="ixv-9067" unitRef="usdPershares"> 0.48 </us-gaap:StockOptionExercisePriceDecrease> | |||||||||||||||||||||
<us-gaap:NumberOfReportingUnits contextRef="c0" decimals="0" id="ixv-9068" unitRef="pure"> 2 </us-gaap:NumberOfReportingUnits> | |||||||||||||||||||||
<us-gaap:ReportingUnitPercentageOfFairValueInExcessOfCarryingAmount contextRef="c2" decimals="2" id="ixv-9069" unitRef="pure"> 0.10 </us-gaap:ReportingUnitPercentageOfFairValueInExcessOfCarryingAmount> | |||||||||||||||||||||
<us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock contextRef="c0" id="ixv-4911"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 9. Accounts Payable and Accrued Expenses</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts payable and accrued expenses consisted of the following at December 31, 2023 and June 30, 2023 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Accounts payable</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,187</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,979</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Accrued salaries and benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,534</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,781</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued goods received not invoiced</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,250</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,700</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Accrued professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,279</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,248</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Other accrued expenses</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">498</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,319</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt">Totals</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">13,748</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">17,027</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> </us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock> | |||||||||||||||||||||
<us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock contextRef="c0" id="ixv-4918"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts payable and accrued expenses consisted of the following at December 31, 2023 and June 30, 2023 (in thousands):</span><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Accounts payable</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,187</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,979</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Accrued salaries and benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,534</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,781</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued goods received not invoiced</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,250</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,700</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Accrued professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,279</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,248</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Other accrued expenses</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">498</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,319</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt">Totals</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">13,748</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">17,027</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> </us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock> | |||||||||||||||||||||
<us-gaap:AccountsPayableCurrent contextRef="c2" decimals="-3" id="ixv-9070" unitRef="usd"> 3187000 </us-gaap:AccountsPayableCurrent> | |||||||||||||||||||||
<us-gaap:AccountsPayableCurrent contextRef="c3" decimals="-3" id="ixv-9071" unitRef="usd"> 3979000 </us-gaap:AccountsPayableCurrent> | |||||||||||||||||||||
<us-gaap:AccruedSalariesCurrent contextRef="c2" decimals="-3" id="ixv-9072" unitRef="usd"> 2534000 </us-gaap:AccruedSalariesCurrent> | |||||||||||||||||||||
<us-gaap:AccruedSalariesCurrent contextRef="c3" decimals="-3" id="ixv-9073" unitRef="usd"> 4781000 </us-gaap:AccruedSalariesCurrent> | |||||||||||||||||||||
<akts:AccruedGoodsReceivedNotInvoicedCurrent contextRef="c2" decimals="-3" id="ixv-9074" unitRef="usd"> 1250000 </akts:AccruedGoodsReceivedNotInvoicedCurrent> | |||||||||||||||||||||
<akts:AccruedGoodsReceivedNotInvoicedCurrent contextRef="c3" decimals="-3" id="ixv-9075" unitRef="usd"> 3700000 </akts:AccruedGoodsReceivedNotInvoicedCurrent> | |||||||||||||||||||||
<us-gaap:AccruedProfessionalFeesCurrent contextRef="c2" decimals="-3" id="ixv-9076" unitRef="usd"> 6279000 </us-gaap:AccruedProfessionalFeesCurrent> | |||||||||||||||||||||
<us-gaap:AccruedProfessionalFeesCurrent contextRef="c3" decimals="-3" id="ixv-9077" unitRef="usd"> 2248000 </us-gaap:AccruedProfessionalFeesCurrent> | |||||||||||||||||||||
<us-gaap:OtherAccruedLiabilitiesCurrent contextRef="c2" decimals="-3" id="ixv-9078" unitRef="usd"> 498000 </us-gaap:OtherAccruedLiabilitiesCurrent> | |||||||||||||||||||||
<us-gaap:OtherAccruedLiabilitiesCurrent contextRef="c3" decimals="-3" id="ixv-9079" unitRef="usd"> 2319000 </us-gaap:OtherAccruedLiabilitiesCurrent> | |||||||||||||||||||||
<us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent contextRef="c2" decimals="-3" id="ixv-9080" unitRef="usd"> 13748000 </us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent> | |||||||||||||||||||||
<us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent contextRef="c3" decimals="-3" id="ixv-9081" unitRef="usd"> 17027000 </us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent> | |||||||||||||||||||||
<us-gaap:DebtDisclosureTextBlock contextRef="c0" id="ixv-4998"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 10. Notes Payable</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Convertible Senior Notes due 2027</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes convertible debt as of December 31, 2023 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Maturity<br/> Date</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stated<br/> Interest <br/> Rate</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Conversion <br/> Price</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Face<br/> Value</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Remaining <br/> Debt <br/> (Discount)</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair<br/> Value of <br/> Embedded <br/> Derivatives</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Carrying <br/> Value</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Long Term convertible notes payable</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 37%; padding-left: 9pt; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.0% convertible senior notes</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 8%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">06/15/2027</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.00</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: black 1.5pt solid; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.71</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: black 1.5pt solid; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">44,000</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: black 1.5pt solid; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2,421</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: black 1.5pt solid; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">74</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: black 1.5pt solid; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">41,653</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ending Balance as of December 31, 2023</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>44,000</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(2,421</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>)</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>74</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>41,653</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes convertible debt as of June 30, 2023 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Maturity<br/> Date</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stated<br/> Interest <br/> Rate</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Conversion <br/> Price</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Face<br/> Value</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Remaining <br/> Debt <br/> (Discount)</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair<br/> Value of <br/> Embedded <br/> Derivatives</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Carrying <br/> Value</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Long Term convertible notes payable</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 37%; padding-left: 9pt; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.0% convertible senior notes</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 8%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">06/15/2027</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.00</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: black 1.5pt solid; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.71</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: black 1.5pt solid; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">44,000</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: black 1.5pt solid; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2,733</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: black 1.5pt solid; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,080</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: black 1.5pt solid; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">43,347</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ending Balance as of June 30, 2023</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>44,000</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(2,733</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>)</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2,080</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>43,347</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest expense on the Convertible Notes during the three months ended December 31, 2023 included contractual interest of $660 thousand and debt discount amortization of $158 thousand. Interest expense on the Convertible Notes during the six months ended December 31, 2023 included contractual interest of $1,320 thousand and debt discount amortization of $312 thousand.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Promissory Note</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company issued a secured promissory note (the “Promissory Note”) in the original principal amount of $4.0 million issued by Akoustis, Inc. to the Sellers’ representative in connection with the Company’s acquisition of GDSI in January 2023. The Sellers’ representative is a current employee of the Company. The Promissory Note does not bear interest, is subject to partial prepayment (reduction of the outstanding principal amount down to $1.3 million) on the second anniversary of the Closing Date, and is payable in full on the third anniversary of the Closing Date. The Purchaser can reduce the principal amount of the Promissory Note (i) to satisfy the Sellers’ indemnification obligations under the Purchase Agreement, and (ii) if GDSI’s President is terminated for cause or due to disability or resigns without good reason prior to maturity the Promissory Note will be cancelled in its entirety. The Promissory Note is secured by certain of the Purchaser’s and GDSI’s assets. In the event of certain events of default, including failure to pay amounts due under the Promissory Note and certain bankruptcy events, the outstanding principal amount of the Promissory Note will become immediately due. The Promissory Note will be recognized on a straight line basis over the term of the Promissory Note as compensation expense. The Company recorded compensation expense totaling $333 thousand and $667 thousand for the three and six months, respectively, ended December 31, 2023 in “General and administrative expenses” in the Condensed Consolidated Statements of Operations with the associated liability included in “Promissory notes payable” in the Condensed Consolidated Balance Sheets.</p> </us-gaap:DebtDisclosureTextBlock> | |||||||||||||||||||||
<us-gaap:ConvertibleDebtTableTextBlock contextRef="c0" id="ixv-5011"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes convertible debt as of December 31, 2023 (in thousands):</span><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Maturity<br/> Date</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stated<br/> Interest <br/> Rate</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Conversion <br/> Price</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Face<br/> Value</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Remaining <br/> Debt <br/> (Discount)</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair<br/> Value of <br/> Embedded <br/> Derivatives</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Carrying <br/> Value</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Long Term convertible notes payable</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 37%; padding-left: 9pt; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.0% convertible senior notes</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 8%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">06/15/2027</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.00</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: black 1.5pt solid; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.71</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: black 1.5pt solid; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">44,000</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: black 1.5pt solid; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2,421</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: black 1.5pt solid; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">74</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: black 1.5pt solid; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">41,653</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ending Balance as of December 31, 2023</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>44,000</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(2,421</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>)</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>74</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>41,653</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes convertible debt as of June 30, 2023 (in thousands):</span><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Maturity<br/> Date</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stated<br/> Interest <br/> Rate</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Conversion <br/> Price</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Face<br/> Value</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Remaining <br/> Debt <br/> (Discount)</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair<br/> Value of <br/> Embedded <br/> Derivatives</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Carrying <br/> Value</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Long Term convertible notes payable</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 37%; padding-left: 9pt; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.0% convertible senior notes</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 8%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">06/15/2027</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.00</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: black 1.5pt solid; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.71</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: black 1.5pt solid; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">44,000</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: black 1.5pt solid; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2,733</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: black 1.5pt solid; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,080</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: black 1.5pt solid; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">43,347</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ending Balance as of June 30, 2023</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>44,000</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(2,733</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>)</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2,080</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>43,347</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> </us-gaap:ConvertibleDebtTableTextBlock> | |||||||||||||||||||||
<us-gaap:DebtInstrumentMaturityDate contextRef="c111" id="ixv-5128"> 2027-06-15 </us-gaap:DebtInstrumentMaturityDate> | |||||||||||||||||||||
<us-gaap:DebtInstrumentInterestRateStatedPercentage contextRef="c112" decimals="4" id="ixv-9082" unitRef="pure"> 0.06 </us-gaap:DebtInstrumentInterestRateStatedPercentage> | |||||||||||||||||||||
<us-gaap:DebtInstrumentConvertibleConversionPrice1 contextRef="c112" decimals="2" id="ixv-9083" unitRef="usdPershares"> 4.71 </us-gaap:DebtInstrumentConvertibleConversionPrice1> | |||||||||||||||||||||
<us-gaap:DebtInstrumentFaceAmount contextRef="c112" decimals="-3" id="ixv-9084" unitRef="usd"> 44000000 </us-gaap:DebtInstrumentFaceAmount> | |||||||||||||||||||||
<akts:DebtDiscount contextRef="c112" decimals="-3" id="ixv-9085" unitRef="usd"> -2421000 </akts:DebtDiscount> | |||||||||||||||||||||
<us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability contextRef="c112" decimals="-3" id="ixv-9086" unitRef="usd"> 74000 </us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability> | |||||||||||||||||||||
<akts:CarryingValueOfConvertibleNotes contextRef="c112" decimals="-3" id="ixv-9087" unitRef="usd"> 41653000 </akts:CarryingValueOfConvertibleNotes> | |||||||||||||||||||||
<us-gaap:DebtInstrumentFaceAmount contextRef="c2" decimals="-3" id="ixv-9088" unitRef="usd"> 44000000 </us-gaap:DebtInstrumentFaceAmount> | |||||||||||||||||||||
<akts:DebtDiscount contextRef="c2" decimals="-3" id="ixv-9089" unitRef="usd"> -2421000 </akts:DebtDiscount> | |||||||||||||||||||||
<us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability contextRef="c2" decimals="-3" id="ixv-9090" unitRef="usd"> 74000 </us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability> | |||||||||||||||||||||
<akts:CarryingValueOfConvertibleNotes contextRef="c2" decimals="-3" id="ixv-9091" unitRef="usd"> 41653000 </akts:CarryingValueOfConvertibleNotes> | |||||||||||||||||||||
<us-gaap:DebtInstrumentMaturityDate contextRef="c113" id="ixv-5362"> 2027-06-15 </us-gaap:DebtInstrumentMaturityDate> | |||||||||||||||||||||
<us-gaap:DebtInstrumentInterestRateStatedPercentage contextRef="c114" decimals="4" id="ixv-9092" unitRef="pure"> 0.06 </us-gaap:DebtInstrumentInterestRateStatedPercentage> | |||||||||||||||||||||
<us-gaap:DebtInstrumentConvertibleConversionPrice1 contextRef="c114" decimals="2" id="ixv-9093" unitRef="usdPershares"> 4.71 </us-gaap:DebtInstrumentConvertibleConversionPrice1> | |||||||||||||||||||||
<us-gaap:DebtInstrumentFaceAmount contextRef="c114" decimals="-3" id="ixv-9094" unitRef="usd"> 44000000 </us-gaap:DebtInstrumentFaceAmount> | |||||||||||||||||||||
<akts:DebtDiscount contextRef="c114" decimals="-3" id="ixv-9095" unitRef="usd"> -2733000 </akts:DebtDiscount> | |||||||||||||||||||||
<us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability contextRef="c114" decimals="-3" id="ixv-9096" unitRef="usd"> 2080000 </us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability> | |||||||||||||||||||||
<akts:CarryingValueOfConvertibleNotes contextRef="c114" decimals="-3" id="ixv-9097" unitRef="usd"> 43347000 </akts:CarryingValueOfConvertibleNotes> | |||||||||||||||||||||
<us-gaap:DebtInstrumentFaceAmount contextRef="c3" decimals="-3" id="ixv-9098" unitRef="usd"> 44000000 </us-gaap:DebtInstrumentFaceAmount> | |||||||||||||||||||||
<akts:DebtDiscount contextRef="c3" decimals="-3" id="ixv-9099" unitRef="usd"> -2733000 </akts:DebtDiscount> | |||||||||||||||||||||
<us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability contextRef="c3" decimals="-3" id="ixv-9100" unitRef="usd"> 2080000 </us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability> | |||||||||||||||||||||
<akts:CarryingValueOfConvertibleNotes contextRef="c3" decimals="-3" id="ixv-9101" unitRef="usd"> 43347000 </akts:CarryingValueOfConvertibleNotes> | |||||||||||||||||||||
<akts:ContractualInterest contextRef="c4" decimals="-3" id="ixv-9102" unitRef="usd"> 660000 </akts:ContractualInterest> | |||||||||||||||||||||
<us-gaap:AmortizationOfFinancingCostsAndDiscounts contextRef="c4" decimals="-3" id="ixv-9103" unitRef="usd"> 158000 </us-gaap:AmortizationOfFinancingCostsAndDiscounts> | |||||||||||||||||||||
<akts:ContractualInterest contextRef="c0" decimals="-3" id="ixv-9104" unitRef="usd"> 1320000 </akts:ContractualInterest> | |||||||||||||||||||||
<us-gaap:AmortizationOfFinancingCostsAndDiscounts contextRef="c0" decimals="-3" id="ixv-9105" unitRef="usd"> 312000 </us-gaap:AmortizationOfFinancingCostsAndDiscounts> | |||||||||||||||||||||
<us-gaap:DebtInstrumentFaceAmount contextRef="c109" decimals="-5" id="ixv-9106" unitRef="usd"> 4000000 </us-gaap:DebtInstrumentFaceAmount> | |||||||||||||||||||||
<us-gaap:DebtInstrumentPeriodicPaymentPrincipal contextRef="c110" decimals="-5" id="ixv-9107" unitRef="usd"> 1300000 </us-gaap:DebtInstrumentPeriodicPaymentPrincipal> | |||||||||||||||||||||
<us-gaap:AllocatedShareBasedCompensationExpense contextRef="c4" decimals="-3" id="ixv-9108" unitRef="usd"> 333000 </us-gaap:AllocatedShareBasedCompensationExpense> | |||||||||||||||||||||
<us-gaap:AllocatedShareBasedCompensationExpense contextRef="c0" decimals="-3" id="ixv-9109" unitRef="usd"> 667000 </us-gaap:AllocatedShareBasedCompensationExpense> | |||||||||||||||||||||
<us-gaap:ConcentrationRiskDisclosureTextBlock contextRef="c0" id="ixv-5509"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 11. Concentrations</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Customers</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Customer concentration as a percentage of revenue for the three months ended December 31, 2023 and 2022 are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three<br/> Months<br/> 12/31/2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three<br/> Months<br/> 12/31/2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Customer 1</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">15</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td>Customer 2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Customer 3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-60">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td>Customer 4</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Customer 5</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Customer concentration as a percentage of revenue for the six months ended December 31, 2023 and 2022 are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Six <br/> Months<br/> 12/31/2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Six<br/> Months<br/> 12/31/2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Customer 1</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">21</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td>Customer 2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Customer 3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td>Customer 4</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Customer concentration as a percentage of accounts receivable at December 31, 2023 and June 30, 2023 are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Customer 1</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">23</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">21</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td>Customer 2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Customer 3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-61">—</div></td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Vendors</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vendor concentration as a percentage of purchases for the three months ended December 31, 2023 and 2022 are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Three<br/> Months<br/> 12/31/2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Three<br/> Months<br/> 12/31/2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Vendor 1</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">20</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-62">—</div></td><td style="width: 1%; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vendor concentration as a percentage of purchases for the six months ended December 31, 2023 and 2022 are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Six <br/> Months<br/> 12/31/2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Six<br/> Months<br/> 12/31/2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; padding-left: 5.4pt">Vendor 1</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">18</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">10</td><td style="width: 1%; text-align: left">%</td></tr> </table> </us-gaap:ConcentrationRiskDisclosureTextBlock> | |||||||||||||||||||||
<us-gaap:SchedulesOfConcentrationOfRiskByRiskFactorTextBlock contextRef="c0" id="ixv-5522"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Customer concentration as a percentage of revenue for the three months ended December 31, 2023 and 2022 are as follows:</span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three<br/> Months<br/> 12/31/2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three<br/> Months<br/> 12/31/2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Customer 1</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">15</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td>Customer 2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Customer 3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-60">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td>Customer 4</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Customer 5</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> </table><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Customer concentration as a percentage of revenue for the six months ended December 31, 2023 and 2022 are as follows:</span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Six <br/> Months<br/> 12/31/2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Six<br/> Months<br/> 12/31/2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Customer 1</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">21</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td>Customer 2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Customer 3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td>Customer 4</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> </table><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Customer concentration as a percentage of accounts receivable at December 31, 2023 and June 30, 2023 are as follows:</span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Customer 1</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">23</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">21</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td>Customer 2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Customer 3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-61">—</div></td><td style="text-align: left"> </td></tr> </table> </us-gaap:SchedulesOfConcentrationOfRiskByRiskFactorTextBlock> | |||||||||||||||||||||
<us-gaap:ConcentrationRiskPercentage1 contextRef="c115" decimals="2" id="ixv-9110" unitRef="pure"> 0.15 </us-gaap:ConcentrationRiskPercentage1> | |||||||||||||||||||||
<us-gaap:ConcentrationRiskPercentage1 contextRef="c116" decimals="2" id="ixv-9111" unitRef="pure"> 0.12 </us-gaap:ConcentrationRiskPercentage1> | |||||||||||||||||||||
<us-gaap:ConcentrationRiskPercentage1 contextRef="c118" decimals="2" id="ixv-9112" unitRef="pure"> 0.12 </us-gaap:ConcentrationRiskPercentage1> | |||||||||||||||||||||
<us-gaap:ConcentrationRiskPercentage1 contextRef="c119" decimals="2" id="ixv-9113" unitRef="pure"> 0.17 </us-gaap:ConcentrationRiskPercentage1> | |||||||||||||||||||||
<us-gaap:ConcentrationRiskPercentage1 contextRef="c120" decimals="2" id="ixv-9114" unitRef="pure"> 0.13 </us-gaap:ConcentrationRiskPercentage1> | |||||||||||||||||||||
<us-gaap:ConcentrationRiskPercentage1 contextRef="c121" decimals="2" id="ixv-9115" unitRef="pure"> 0.21 </us-gaap:ConcentrationRiskPercentage1> | |||||||||||||||||||||
<us-gaap:ConcentrationRiskPercentage1 contextRef="c122" decimals="2" id="ixv-9116" unitRef="pure"> 0.10 </us-gaap:ConcentrationRiskPercentage1> | |||||||||||||||||||||
<us-gaap:ConcentrationRiskPercentage1 contextRef="c123" decimals="2" id="ixv-9117" unitRef="pure"> 0.10 </us-gaap:ConcentrationRiskPercentage1> | |||||||||||||||||||||
<us-gaap:ConcentrationRiskPercentage1 contextRef="c124" decimals="2" id="ixv-9118" unitRef="pure"> 0.21 </us-gaap:ConcentrationRiskPercentage1> | |||||||||||||||||||||
<us-gaap:ConcentrationRiskPercentage1 contextRef="c125" decimals="2" id="ixv-9119" unitRef="pure"> 0.23 </us-gaap:ConcentrationRiskPercentage1> | |||||||||||||||||||||
<us-gaap:ConcentrationRiskPercentage1 contextRef="c126" decimals="2" id="ixv-9120" unitRef="pure"> 0.21 </us-gaap:ConcentrationRiskPercentage1> | |||||||||||||||||||||
<us-gaap:ConcentrationRiskPercentage1 contextRef="c127" decimals="2" id="ixv-9121" unitRef="pure"> 0.15 </us-gaap:ConcentrationRiskPercentage1> | |||||||||||||||||||||
<us-gaap:ConcentrationRiskPercentage1 contextRef="c128" decimals="2" id="ixv-9122" unitRef="pure"> 0.10 </us-gaap:ConcentrationRiskPercentage1> | |||||||||||||||||||||
<akts:ScheduleOfVendorConcentrationTableTextBlock contextRef="c0" id="ixv-5712"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vendor concentration as a percentage of purchases for the three months ended December 31, 2023 and 2022 are as follows:</span><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Three<br/> Months<br/> 12/31/2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Three<br/> Months<br/> 12/31/2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Vendor 1</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">20</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-62">—</div></td><td style="width: 1%; text-align: left"> </td></tr> </table><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vendor concentration as a percentage of purchases for the six months ended December 31, 2023 and 2022 are as follows:</span><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Six <br/> Months<br/> 12/31/2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Six<br/> Months<br/> 12/31/2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; padding-left: 5.4pt">Vendor 1</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">18</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">10</td><td style="width: 1%; text-align: left">%</td></tr> </table> </akts:ScheduleOfVendorConcentrationTableTextBlock> | |||||||||||||||||||||
<us-gaap:ConcentrationRiskPercentage1 contextRef="c130" decimals="2" id="ixv-9123" unitRef="pure"> 0.20 </us-gaap:ConcentrationRiskPercentage1> | |||||||||||||||||||||
<us-gaap:ConcentrationRiskPercentage1 contextRef="c132" decimals="2" id="ixv-9124" unitRef="pure"> 0.18 </us-gaap:ConcentrationRiskPercentage1> | |||||||||||||||||||||
<us-gaap:ConcentrationRiskPercentage1 contextRef="c133" decimals="2" id="ixv-9125" unitRef="pure"> 0.10 </us-gaap:ConcentrationRiskPercentage1> | |||||||||||||||||||||
<us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="c0" id="ixv-5791"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 12. Equity</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span style="text-decoration:underline">Underwritten Offering of Common Stock</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 29, 2024, the Company closed an underwritten public offering of 23,000,000 shares of its common stock at a price to the public of $0.50 per share pursuant to an underwriting agreement with Roth Capital Partners, LLC. The shares of common stock issued at closing included 3,000,000 shares issued pursuant to the underwriters’ over-allotment option, which was exercised in full. Gross proceeds totaled $11.5 million before deducting the underwriting discount and offering expenses of approximately $1.1 million resulting in net proceeds from the offering of approximately $10.4 million. Certain of the Company’s directors, officers and employees participated in the offering by purchasing an aggregate of $1.0 million of shares on the same terms and conditions as other investors.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span style="text-decoration:underline">Equity Incentive Plans</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the six months ended December 31, 2023, the Company granted employees options to purchase an aggregate of approximately 0.26 million shares of common stock. The fair values of the Company’s options were estimated at the dates of grant using a Black-Scholes option pricing model with the following assumptions:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Six Months Ended<br/> December 31, <br/> 2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercise price</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.59 – 0.97</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Expected term (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.00 – 4.75</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">71 – 75</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.42 – 4.66</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left">Dividend yield</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">0</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Weighted Average Grant Date Fair Value of Options granted during the period</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.35</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the six months ended December 31, 2023 the Company awarded certain employees and directors grants of an aggregate of approximately 1.6 million restricted stock units (“RSUs”) with a weighted average grant date fair value of $0.81. The RSUs will be expensed over the requisite service period. The terms of the RSUs include vesting provisions based solely on continued service. If the service criteria are satisfied, the RSUs will generally vest over 4 – 5 years.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the six months ended December 31, 2023 the Company awarded certain employees grants of an aggregate of approximately 0.55 million restricted stock units with market value appreciation conditions (“MVSUs”) with a weighted average grant date fair value of $1.41. The MVSUs will be expensed over the requisite service period. The terms of the MVSUs include vesting provisions based on continued service. The number of shares of the Company’s common stock earned at vesting is based on the Company’s stock price performance with amounts earned subject to a vesting multiplier ranging from 0% to 200%. If the service criteria are satisfied, the MVSUs will vest over 3 years.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Compensation expense related to our stock-based awards described above was as follows (in thousands):</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months Ended<br/> December 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Six months ended<br/> December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Research and Development</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">119</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">883</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">652</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,051</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">General and Administrative</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">135</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,012</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,423</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,193</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Cost of Revenue</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">62</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-63">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">124</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Total</td><td> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">316</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,895</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,199</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">4,244</td><td style="text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Unrecognized stock-based compensation expense and weighted-average years to be recognized are as follows (in thousands):</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As of December 31, 2023</b></span></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Unrecognized<br/> stock-based<br/> compensation</b></span></td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted-<br/> average years<br/> to be recognized</b></span></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Options</span></td> <td style="width: 1%"> </td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="width: 8%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">974</span></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 8%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.73</span></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted stock units</span></td> <td> </td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,519</span></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.99</span></td> <td> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span style="text-decoration:underline">Nasdaq Stock Market notification</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 24, 2023, the Company received notification from the Listing Qualifications Department of The Nasdaq Stock Market, or Nasdaq, stating that the Company did not comply with the minimum $1.00 bid price requirement for continued listing set forth in Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Requirement”). In accordance with Nasdaq listing rules, the Company has been afforded 180 calendar days (until April 22, 2024) to regain compliance with the Bid Price Requirement (the “Initial Compliance Period”). To regain compliance, the closing bid price of the Company’s common stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days during this additional 180-day period, all as described in more detail in the Current Report on Form 8-K filed with the SEC on October 27, 2023. If the Company does not regain compliance by April 22, 2024, the Company may be eligible for an additional grace period. To qualify, the Company must, as of the final day of the Initial Compliance Period, meet the applicable market value of publicly held shares requirement for continued listing and all other applicable standards for initial listing on the Capital Market (except the Bid Price Requirement) based on the Company’s most recent public filings and market information and must notify Nasdaq of its intent to cure this deficiency. If the Company meets these requirements, the Nasdaq staff would be expected to grant an additional 180 calendar days for the Company to regain compliance with Bid Price Requirement.</p> </us-gaap:StockholdersEquityNoteDisclosureTextBlock> | |||||||||||||||||||||
<us-gaap:PartnersCapitalAccountUnitsSoldInPublicOffering contextRef="c134" decimals="0" id="ixv-9126" unitRef="shares"> 23000000 </us-gaap:PartnersCapitalAccountUnitsSoldInPublicOffering> | |||||||||||||||||||||
<us-gaap:SaleOfStockPricePerShare contextRef="c135" decimals="2" id="ixv-9127" unitRef="usdPershares"> 0.5 </us-gaap:SaleOfStockPricePerShare> | |||||||||||||||||||||
<us-gaap:CommonStockSharesIssued contextRef="c136" decimals="0" id="ixv-9128" unitRef="shares"> 3000000 </us-gaap:CommonStockSharesIssued> | |||||||||||||||||||||
<us-gaap:ProceedsFromIssuanceInitialPublicOffering contextRef="c134" decimals="-5" id="ixv-9129" unitRef="usd"> 11500000 </us-gaap:ProceedsFromIssuanceInitialPublicOffering> | |||||||||||||||||||||
<akts:underwritingDiscountAndOfferingExpenses contextRef="c134" decimals="-5" id="ixv-9130" unitRef="usd"> 1100000 </akts:underwritingDiscountAndOfferingExpenses> | |||||||||||||||||||||
<akts:NetProceedsFromTheOffering contextRef="c134" decimals="-5" id="ixv-9131" unitRef="usd"> 10400000 </akts:NetProceedsFromTheOffering> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueEmployeeBenefitPlan contextRef="c0" decimals="-5" id="ixv-9132" unitRef="usd"> 1000000 </us-gaap:StockIssuedDuringPeriodValueEmployeeBenefitPlan> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans contextRef="c137" decimals="-4" id="ixv-9133" unitRef="shares"> 260000 </us-gaap:StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans> | |||||||||||||||||||||
<us-gaap:DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock contextRef="c0" id="ixv-9134"> The fair values of the Company’s options were estimated at the dates of grant using a Black-Scholes option pricing model with the following assumptions:<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Six Months Ended<br/> December 31, <br/> 2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercise price</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.59 – 0.97</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Expected term (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.00 – 4.75</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">71 – 75</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.42 – 4.66</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left">Dividend yield</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">0</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Weighted Average Grant Date Fair Value of Options granted during the period</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.35</td><td style="text-align: left"> </td></tr> </table> </us-gaap:DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice contextRef="c143" decimals="2" id="ixv-9135" unitRef="usdPershares"> 0.59 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice contextRef="c144" decimals="2" id="ixv-9136" unitRef="usdPershares"> 0.97 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice> | |||||||||||||||||||||
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 contextRef="c145" id="ixv-9137"> P4Y </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1> | |||||||||||||||||||||
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 contextRef="c146" id="ixv-9138"> P4Y9M </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate contextRef="c145" decimals="2" id="ixv-9139" unitRef="pure"> 0.71 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate contextRef="c146" decimals="2" id="ixv-9140" unitRef="pure"> 0.75 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate contextRef="c145" decimals="4" id="ixv-9141" unitRef="pure"> 0.0442 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate contextRef="c146" decimals="4" id="ixv-9142" unitRef="pure"> 0.0466 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate contextRef="c147" decimals="2" id="ixv-9143" unitRef="pure"> 0 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue contextRef="c147" decimals="2" id="ixv-9144" unitRef="usdPershares"> 0.35 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue> | |||||||||||||||||||||
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested contextRef="c138" decimals="-5" id="ixv-9145" unitRef="usd"> 1600000 </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue contextRef="c138" decimals="2" id="ixv-9146" unitRef="usdPershares"> 0.81 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue> | |||||||||||||||||||||
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested contextRef="c139" decimals="-4" id="ixv-9147" unitRef="usd"> 550000 </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue contextRef="c139" decimals="2" id="ixv-9148" unitRef="usdPershares"> 1.41 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue> | |||||||||||||||||||||
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage contextRef="c140" decimals="2" id="ixv-9149" unitRef="pure"> 0 </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage> | |||||||||||||||||||||
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage contextRef="c141" decimals="2" id="ixv-9150" unitRef="pure"> 2 </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1 contextRef="c139" id="ixv-9151"> P3Y </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1> | |||||||||||||||||||||
<us-gaap:ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock contextRef="c0" id="ixv-9152"> Compensation expense related to our stock-based awards described above was as follows (in thousands):<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months Ended<br/> December 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Six months ended<br/> December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Research and Development</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">119</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">883</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">652</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,051</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">General and Administrative</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">135</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,012</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,423</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,193</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Cost of Revenue</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">62</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-63">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">124</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Total</td><td> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">316</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,895</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,199</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">4,244</td><td style="text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> </us-gaap:ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensation contextRef="c148" decimals="-3" id="ixv-9153" unitRef="usd"> 119000 </us-gaap:ShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensation contextRef="c149" decimals="-3" id="ixv-9154" unitRef="usd"> 883000 </us-gaap:ShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensation contextRef="c150" decimals="-3" id="ixv-9155" unitRef="usd"> 652000 </us-gaap:ShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensation contextRef="c151" decimals="-3" id="ixv-9156" unitRef="usd"> 2051000 </us-gaap:ShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensation contextRef="c152" decimals="-3" id="ixv-9157" unitRef="usd"> 135000 </us-gaap:ShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensation contextRef="c153" decimals="-3" id="ixv-9158" unitRef="usd"> 1012000 </us-gaap:ShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensation contextRef="c154" decimals="-3" id="ixv-9159" unitRef="usd"> 1423000 </us-gaap:ShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensation contextRef="c155" decimals="-3" id="ixv-9160" unitRef="usd"> 2193000 </us-gaap:ShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensation contextRef="c156" decimals="-3" id="ixv-9161" unitRef="usd"> 62000 </us-gaap:ShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensation contextRef="c158" decimals="-3" id="ixv-9162" unitRef="usd"> 124000 </us-gaap:ShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensation contextRef="c4" decimals="-3" id="ixv-9163" unitRef="usd"> 316000 </us-gaap:ShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensation contextRef="c5" decimals="-3" id="ixv-9164" unitRef="usd"> 1895000 </us-gaap:ShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensation contextRef="c0" decimals="-3" id="ixv-9165" unitRef="usd"> 2199000 </us-gaap:ShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensation contextRef="c6" decimals="-3" id="ixv-9166" unitRef="usd"> 4244000 </us-gaap:ShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:ScheduleOfUnrecognizedCompensationCostNonvestedAwardsTableTextBlock contextRef="c0" id="ixv-9167"> Unrecognized stock-based compensation expense and weighted-average years to be recognized are as follows (in thousands):<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As of December 31, 2023</b></span></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Unrecognized<br/> stock-based<br/> compensation</b></span></td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted-<br/> average years<br/> to be recognized</b></span></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Options</span></td> <td style="width: 1%"> </td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="width: 8%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">974</span></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 8%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.73</span></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted stock units</span></td> <td> </td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,519</span></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.99</span></td> <td> </td></tr> </table> </us-gaap:ScheduleOfUnrecognizedCompensationCostNonvestedAwardsTableTextBlock> | |||||||||||||||||||||
<us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions contextRef="c159" decimals="-3" id="ixv-9168" unitRef="usd"> 974000 </us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions> | |||||||||||||||||||||
<us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1 contextRef="c160" id="ixv-6019"> P1Y8M23D </us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1> | |||||||||||||||||||||
<us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions contextRef="c161" decimals="-3" id="ixv-9169" unitRef="usd"> 7519000 </us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions> | |||||||||||||||||||||
<us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1 contextRef="c162" id="ixv-6034"> P1Y11M26D </us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1> | |||||||||||||||||||||
<akts:MinimumBidPriceRequirementPerShareForListing contextRef="c142" decimals="2" id="ixv-9170" unitRef="usdPershares"> 1 </akts:MinimumBidPriceRequirementPerShareForListing> | |||||||||||||||||||||
<akts:NasdaqStockMarketNotificationDescription contextRef="c0" id="ixv-9171"> In accordance with Nasdaq listing rules, the Company has been afforded 180 calendar days (until April 22, 2024) to regain compliance with the Bid Price Requirement (the “Initial Compliance Period”). To regain compliance, the closing bid price of the Company’s common stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days during this additional 180-day period, all as described in more detail in the Current Report on Form 8-K filed with the SEC on October 27, 2023. If the Company does not regain compliance by April 22, 2024, the Company may be eligible for an additional grace period. To qualify, the Company must, as of the final day of the Initial Compliance Period, meet the applicable market value of publicly held shares requirement for continued listing and all other applicable standards for initial listing on the Capital Market (except the Bid Price Requirement) based on the Company’s most recent public filings and market information and must notify Nasdaq of its intent to cure this deficiency. If the Company meets these requirements, the Nasdaq staff would be expected to grant an additional 180 calendar days for the Company to regain compliance with Bid Price Requirement. </akts:NasdaqStockMarketNotificationDescription> | |||||||||||||||||||||
<us-gaap:LesseeOperatingLeasesTextBlock contextRef="c0" id="ixv-6046"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 13. Leases</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company leases office space in Huntersville, NC, Carrollton, TX, San Jose, CA and Taiwan and leases equipment in Canandaigua, NY. Its leases have remaining lease terms of up to five years, some of which include options to extend the leases for up to twenty-four months. Following adoption of ASC 842, lease expense excludes capital area maintenance and property taxes.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The components of lease expense were as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months<br/> Ended<br/> December 31,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months<br/> Ended<br/> December 31,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Six Months<br/> Ended<br/> December 31,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Six Months<br/> Ended<br/> December 31,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Operating Lease Expense</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">149</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">106</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">304</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">201</td><td style="width: 1%; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Supplemental balance sheet information related to leases was as follows (in thousands):</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Classification on the<br/> Condensed<br/> Consolidated<br/> Balance Sheet</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Assets</td><td> </td> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating lease assets</td><td style="width: 1%"> </td> <td style="width: 15%; text-align: center">Other non-current assets</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,158</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,374</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Liabilities</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Operating lease liabilities</td><td> </td> <td style="text-align: center">Current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">478</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">439</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating lease liabilities</td><td> </td> <td style="white-space: nowrap; text-align: center">Long term liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">729</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">976</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Weighted Average Remaining Lease Term:</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Operating leases</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.54 Years</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.97 Years</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Weighted Average Discount Rate:</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Operating leases</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12.88</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12.77</td><td style="text-align: left">%</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table outlines the minimum future lease payments for the next five years and thereafter (in thousands):</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For the year ending June 30,</b></span></td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 89%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2024</span></td> <td style="width: 1%"> </td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="width: 8%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-64">29<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</span></div></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2025</span></td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">606</span></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2026</span></td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">374</span></td> <td> </td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2027</span></td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">66</span></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thereafter</span></td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">79</span></td> <td> </td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total lease payments (undiscounted cash flows)</span></td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,424</span></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less imputed interest</span></td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(217</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td> <td> </td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,207</span></td> <td> </td></tr> </table> </us-gaap:LesseeOperatingLeasesTextBlock> | |||||||||||||||||||||
<us-gaap:OperatingLeaseWeightedAverageRemainingLeaseTerm1 contextRef="c163" id="ixv-9172"> P5Y </us-gaap:OperatingLeaseWeightedAverageRemainingLeaseTerm1> | |||||||||||||||||||||
<us-gaap:LeaseCostTableTextBlock contextRef="c0" id="ixv-9173"> The components of lease expense were as follows:<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months<br/> Ended<br/> December 31,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months<br/> Ended<br/> December 31,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Six Months<br/> Ended<br/> December 31,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Six Months<br/> Ended<br/> December 31,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Operating Lease Expense</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">149</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">106</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">304</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">201</td><td style="width: 1%; text-align: left"> </td></tr> </table> </us-gaap:LeaseCostTableTextBlock> | |||||||||||||||||||||
<us-gaap:OperatingLeaseExpense contextRef="c4" decimals="-3" id="ixv-9174" unitRef="usd"> 149000 </us-gaap:OperatingLeaseExpense> | |||||||||||||||||||||
<us-gaap:OperatingLeaseExpense contextRef="c5" decimals="-3" id="ixv-9175" unitRef="usd"> 106000 </us-gaap:OperatingLeaseExpense> | |||||||||||||||||||||
<us-gaap:OperatingLeaseExpense contextRef="c0" decimals="-3" id="ixv-9176" unitRef="usd"> 304000 </us-gaap:OperatingLeaseExpense> | |||||||||||||||||||||
<us-gaap:OperatingLeaseExpense contextRef="c6" decimals="-3" id="ixv-9177" unitRef="usd"> 201000 </us-gaap:OperatingLeaseExpense> | |||||||||||||||||||||
<srt:ScheduleOfCondensedBalanceSheetTableTextBlock contextRef="c0" id="ixv-9178"> Supplemental balance sheet information related to leases was as follows (in thousands):<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Classification on the<br/> Condensed<br/> Consolidated<br/> Balance Sheet</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Assets</td><td> </td> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating lease assets</td><td style="width: 1%"> </td> <td style="width: 15%; text-align: center">Other non-current assets</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,158</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,374</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Liabilities</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Operating lease liabilities</td><td> </td> <td style="text-align: center">Current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">478</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">439</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating lease liabilities</td><td> </td> <td style="white-space: nowrap; text-align: center">Long term liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">729</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">976</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Weighted Average Remaining Lease Term:</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Operating leases</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.54 Years</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.97 Years</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Weighted Average Discount Rate:</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Operating leases</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12.88</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12.77</td><td style="text-align: left">%</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> </srt:ScheduleOfCondensedBalanceSheetTableTextBlock> | |||||||||||||||||||||
<us-gaap:OperatingLeaseRightOfUseAsset contextRef="c2" decimals="-3" id="ixv-9179" unitRef="usd"> 1158000 </us-gaap:OperatingLeaseRightOfUseAsset> | |||||||||||||||||||||
<us-gaap:OperatingLeaseRightOfUseAsset contextRef="c3" decimals="-3" id="ixv-9180" unitRef="usd"> 1374000 </us-gaap:OperatingLeaseRightOfUseAsset> | |||||||||||||||||||||
<us-gaap:OperatingLeaseLiabilityCurrent contextRef="c2" decimals="-3" id="ixv-9181" unitRef="usd"> 478000 </us-gaap:OperatingLeaseLiabilityCurrent> | |||||||||||||||||||||
<us-gaap:OperatingLeaseLiabilityCurrent contextRef="c3" decimals="-3" id="ixv-9182" unitRef="usd"> 439000 </us-gaap:OperatingLeaseLiabilityCurrent> | |||||||||||||||||||||
<us-gaap:OperatingLeaseLiabilityNoncurrent contextRef="c2" decimals="-3" id="ixv-9183" unitRef="usd"> 729000 </us-gaap:OperatingLeaseLiabilityNoncurrent> | |||||||||||||||||||||
<us-gaap:OperatingLeaseLiabilityNoncurrent contextRef="c3" decimals="-3" id="ixv-9184" unitRef="usd"> 976000 </us-gaap:OperatingLeaseLiabilityNoncurrent> | |||||||||||||||||||||
<us-gaap:OperatingLeaseWeightedAverageRemainingLeaseTerm1 contextRef="c2" id="ixv-9185"> P2Y6M14D </us-gaap:OperatingLeaseWeightedAverageRemainingLeaseTerm1> | |||||||||||||||||||||
<us-gaap:OperatingLeaseWeightedAverageRemainingLeaseTerm1 contextRef="c3" id="ixv-9186"> P2Y11M19D </us-gaap:OperatingLeaseWeightedAverageRemainingLeaseTerm1> | |||||||||||||||||||||
<us-gaap:OperatingLeaseWeightedAverageDiscountRatePercent contextRef="c2" decimals="4" id="ixv-9187" unitRef="pure"> 0.1288 </us-gaap:OperatingLeaseWeightedAverageDiscountRatePercent> | |||||||||||||||||||||
<us-gaap:OperatingLeaseWeightedAverageDiscountRatePercent contextRef="c3" decimals="4" id="ixv-9188" unitRef="pure"> 0.1277 </us-gaap:OperatingLeaseWeightedAverageDiscountRatePercent> | |||||||||||||||||||||
<us-gaap:LesseeOperatingLeaseLiabilityMaturityTableTextBlock contextRef="c0" id="ixv-9189"> The following table outlines the minimum future lease payments for the next five years and thereafter (in thousands):<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For the year ending June 30,</b></span></td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 89%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2024</span></td> <td style="width: 1%"> </td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="width: 8%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-64">29<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</span></div></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2025</span></td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">606</span></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2026</span></td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">374</span></td> <td> </td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2027</span></td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">66</span></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thereafter</span></td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">79</span></td> <td> </td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total lease payments (undiscounted cash flows)</span></td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,424</span></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less imputed interest</span></td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(217</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td> <td> </td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,207</span></td> <td> </td></tr> </table> </us-gaap:LesseeOperatingLeaseLiabilityMaturityTableTextBlock> | |||||||||||||||||||||
<us-gaap:LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths contextRef="c164" decimals="-3" id="ixv-9190" unitRef="usd"> 606000 </us-gaap:LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths> | |||||||||||||||||||||
<us-gaap:LesseeOperatingLeaseLiabilityPaymentsDueYearTwo contextRef="c164" decimals="-3" id="ixv-9191" unitRef="usd"> 374000 </us-gaap:LesseeOperatingLeaseLiabilityPaymentsDueYearTwo> | |||||||||||||||||||||
<us-gaap:LesseeOperatingLeaseLiabilityPaymentsDueYearThree contextRef="c164" decimals="-3" id="ixv-9192" unitRef="usd"> 66000 </us-gaap:LesseeOperatingLeaseLiabilityPaymentsDueYearThree> | |||||||||||||||||||||
<us-gaap:LesseeOperatingLeaseLiabilityPaymentsDueYearFour contextRef="c164" decimals="-3" id="ixv-9193" unitRef="usd"> 79000 </us-gaap:LesseeOperatingLeaseLiabilityPaymentsDueYearFour> | |||||||||||||||||||||
<us-gaap:LesseeOperatingLeaseLiabilityPaymentsDue contextRef="c164" decimals="-3" id="ixv-9194" unitRef="usd"> 1424000 </us-gaap:LesseeOperatingLeaseLiabilityPaymentsDue> | |||||||||||||||||||||
<us-gaap:LesseeOperatingLeaseLiabilityUndiscountedExcessAmount contextRef="c164" decimals="-3" id="ixv-9195" unitRef="usd"> 217000 </us-gaap:LesseeOperatingLeaseLiabilityUndiscountedExcessAmount> | |||||||||||||||||||||
<us-gaap:OperatingLeaseLiability contextRef="c164" decimals="-3" id="ixv-9196" unitRef="usd"> 1207000 </us-gaap:OperatingLeaseLiability> | |||||||||||||||||||||
<us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="c0" id="ixv-6358"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span style="text-decoration:underline">Note 14. Commitments and Contingencies</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span style="text-decoration:underline">Ontario County Industrial Development Authority Agreement</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 27, 2018, the Company entered into a Lease and Project Agreement (the “Lease and Project Agreement”) and a Company Lease Agreement (the “Company Lease Agreement” and together with the Lease and Project Agreement, the “Agreements”), each dated as of February 1, 2018, with the Ontario County Industrial Development Agency, a public benefit corporation of the State of New York (the “OCIDA”). Pursuant to the Agreements, the Company will lease for $1.00 annually to the OCIDA an approximately 9.995 acre parcel of land in Canandaigua, New York, together with the improvements thereon (including the Company’s New York fabrication facility), and transfer title to certain related equipment and personal property to the OCIDA (collectively, the “Facility”). The OCIDA will lease the Facility back to the Company for annual rent payments specified in the Lease and Project Agreement for the Company’s primary use as research and development, manufacturing, warehouse and professional office space in its business, and to be subleased, in part, by the Company to various existing tenants. The Company estimates substantial tax savings during the term of the Agreements, which expire on December 31, 2028. In addition, subject to the terms of the Lease and Project Agreement, certain purchases and leases of eligible items will be exempt from the imposition of sales and use taxes. Subject to the terms of the Lease and Project Agreement, the OCIDA has also granted to the Company an exemption from certain mortgage recording taxes for one or more mortgages securing an aggregate principal amount not to exceed $12.0 million, or such greater amount as approved by the OCIDA in its sole and absolute discretion. Benefits totaling approximately $0.4 million provided to the Company through December 31, 2023 pursuant to the terms of the Lease and Project Agreement are subject to claw back over the life of the Agreements upon certain recapture events, including certain events of default.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span style="text-decoration:underline">Litigation, Claims and Assessments</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Qorvo Inc. vs. Akoustis Technologies, Inc., DE Case 1:21-cv-01417-JPM</i> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 4, 2021, the Company was named as a defendant in a complaint filed by Qorvo, Inc. (“Qorvo”) in the United States District Court for the District of Delaware alleging, among other things, infringement of U.S. Patent No. 7,522,018 (“the ’018 Patent”) and U.S. Patent No. 9,735,755 (“the ’755 Patent”), false advertising, false patent marking, and unfair competition. The complaint alleges that the defendants misappropriated proprietary information, made misleading statements about the characteristics of certain of its products, and sold products infringing on certain of the plaintiff ’s patents. The plaintiff seeks an injunction enjoining the Company from the alleged infringement and damages, including punitive and statutory enhanced damages, in an unspecified amount. The Company filed a motion to dismiss all of the claims other than the direct patent infringement claims, but the court permitted the plaintiff to file an amended complaint which the court subsequently determined was sufficient for pleading purposes. The Court denied the Company’s motion in May 2022. The Court held a claims construction hearing in November 2022, issuing its claim construction order on March 15, 2023. On February 8, 2023, Qorvo filed a second amended complaint adding allegations of misappropriation of trade secrets, racketeering activities, and civil conspiracy. Fact discovery closed on November 15, 2023 and expert discovery closed on January 26, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 1, 2024, the Company filed a motion for partial summary judgment in its favor with respect to Qorvo’s claims of false advertising, false patent marking, unfair competition, misappropriation of trade secrets, violation of the RICO Act, and civil conspiracy. In its motion, the Company also moved for summary judgment in its favor regarding Qorvo’s claim of infringement regarding its ’755 Patent with respect to newer designs of certain Company BAW filters. That same day, Qorvo filed a motion seeking partial summary judgment in its favor with respect to the Company’s defenses of invalidity regarding the ’018 Patent and the ’755 Patent.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company continues to develop its defenses and mitigation strategies, and intends to proceed in defending itself vigorously against the claims asserted by Qorvo. However, the Company can provide no assurance as to the outcome of such dispute, and such action may result in judgments against the Company for an injunction, significant damages or other relief, such as future royalty payments to Qorvo or restrictions on certain of the Company’s activities. A trial date has been scheduled for May 6, 2024.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Akoustis Technologies, Inc. vs. Qorvo, Inc., TX Case 2:23-cv-00180-JRG-RSP</i> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 20, 2023, the Company filed a complaint against Qorvo in the United States District Court for the Eastern District of Texas alleging infringement by Qorvo of U.S. Patent No. 7,250,360 (“the ’360 Patent”), a patent licensed exclusively to the Company by Cornell University. The complaint alleges Qorvo’s willful infringement of the Cornell patent and seeks remedies including enhanced damages and attorneys’ fees. On July 24, 2023, Qorvo filed a motion to dismiss the complaint.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 11, 2023, Qorvo filed a motion to strike Akoustis’ infringement contentions. On January 10, 2024, the Court denied Qorvo’s motion to strike and Qorvo agreed to respond to the Company’s interrogatories and document requests relating to the accused products listed in the Company’s infringement contentions.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company intends to vigorously pursue its claims against Qorvo but can provide no assurance as to the outcome of this dispute.</p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Resolution of each of the matters described above has been prolonged and costly, and the ultimate result or judgment is uncertain due to the inherent uncertainty in litigation and other proceedings. An adverse result in the matters described above would have a material adverse effect on the Company and its business. Even if ultimately settled or resolved in the Company’s favor, the matters described above and other possible future actions have resulted in significant expenses, diversion of management and technical personnel attention and disruptions and delays in the Company’s business and product development, and other collateral consequences. Any out-of-court settlement of the above matters or other actions may also have an adverse effect on the Company’s business, financial condition and results of operations, including, but not limited to, substantial expenses, the payment of royalties, licensing or other fees payable to third parties, or restrictions on its ability to develop, manufacture, and sell its products.</p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">From time to time, the Company may become involved in other lawsuits, investigations, and claims that arise in the ordinary course of business. The Company believes it has meritorious defenses against such other pending claims and intends to vigorously pursue them. While it is not possible to predict or determine the outcomes of any such other pending actions, the Company believes the amount of liability, if any, with respect to such other pending actions, would not materially affect its financial position, results of operations, or cash flows.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span style="text-decoration:underline">Tax Credit Contingency</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company accrues a liability for indirect tax contingencies when it believes that it is both probable that a liability has been incurred and that it can reasonably estimate the amount of the loss. The Company reviews these accruals and adjusts them to reflect ongoing negotiations, settlements, rulings, advice of legal counsel and other relevant information. To the extent new information is obtained and the Company’s views on the probable outcomes of claims, suits, assessments, investigations or legal proceedings change, changes in the Company’s accrued liabilities would be recorded in the period in which such determination is made.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s gross unrecognized indirect tax credits totaled $0.1 million as of December 31, 2023 and $0.1 million as of June 30, 2023 and are recorded on the Consolidated Balance Sheet as a long-term liability.</p> </us-gaap:CommitmentsAndContingenciesDisclosureTextBlock> | |||||||||||||||||||||
<akts:LeaseAgreementsDescription contextRef="c0" id="ixv-9197"> Pursuant to the Agreements, the Company will lease for $1.00 annually to the OCIDA an approximately 9.995 acre parcel of land in Canandaigua, New York, together with the improvements thereon (including the Company’s New York fabrication facility), and transfer title to certain related equipment and personal property to the OCIDA (collectively, the “Facility”). </akts:LeaseAgreementsDescription> | |||||||||||||||||||||
<us-gaap:InvestmentOwnedBalancePrincipalAmount contextRef="c165" decimals="-5" id="ixv-9198" unitRef="usd"> 12000000 </us-gaap:InvestmentOwnedBalancePrincipalAmount> | |||||||||||||||||||||
<akts:TotalBenefitsOfContingencies contextRef="c0" decimals="-5" id="ixv-9199" unitRef="usd"> 400000 </akts:TotalBenefitsOfContingencies> | |||||||||||||||||||||
<us-gaap:IncomeTaxReconciliationTaxCredits contextRef="c0" decimals="-5" id="ixv-9200" unitRef="usd"> 100000 </us-gaap:IncomeTaxReconciliationTaxCredits> | |||||||||||||||||||||
<us-gaap:IncomeTaxReconciliationTaxCredits contextRef="c166" decimals="-5" id="ixv-9201" unitRef="usd"> 100000 </us-gaap:IncomeTaxReconciliationTaxCredits> | |||||||||||||||||||||
<us-gaap:SegmentReportingDisclosureTextBlock contextRef="c0" id="ixv-6432"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 15. Segment Information</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Operating segments are defined as components of an enterprise about which separate financial information is available and evaluated regularly by the chief operating decision maker, or decision–making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is its Chief Executive Officer. The Company operates in two segments, Fabrication Services, which consists of engineering review services and backend packaging services, and RF Filters, which consists of filter product sales.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company evaluates performance of its operating segments based on revenue and operating profit (loss). Segment information for the three and six months ended December 30, 2023 and 2022 are as follows (in thousands):</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fabrication<br/> Services</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">RF Filters</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Three months ended December 31, 2023</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; padding-left: 9pt">Revenue</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,298</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,719</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">7,017</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; padding-left: 9pt">Cost of revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,253</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,083</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,336</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Gross margin</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,045</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(364</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">681</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-65">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,411</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,411</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">General and administrative</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">903</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">8,391</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,294</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Income (Loss) from Operations</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">142</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(15,167</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(15,024</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold">Three months ended December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt">Revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,891</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,974</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,865</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; padding-left: 9pt">Cost of revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,126</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,148</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,274</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Gross margin</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">765</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(174</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">591</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-66">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,645</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,645</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">General and administrative</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-67">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,838</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,838</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Income (Loss) from Operations</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">765</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(13,657</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(12,892</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold">Six months ended December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt">Revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,960</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">8,059</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">14,019</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; padding-left: 9pt">Cost of revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,800</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">10,622</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">14,422</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Gross margin</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,160</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,563</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(403</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-68">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,758</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,758</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">General and administrative</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,201</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">17,317</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">19,518</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Income (Loss) from Operations</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(41</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(36,638</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(36,679</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold">Six months ended December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt">Revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,823</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">8,609</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">11,432</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; padding-left: 9pt">Cost of revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,018</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,709</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,727</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Gross margin</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">805</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,100</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(295</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-69">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,730</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,730</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">General and administrative</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-70">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">12,833</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">12,833</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Income (Loss) from Operations</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">805</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(31,663</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(30,858</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold">As of December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Accounts receivable</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,529</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,279</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,808</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">Property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,206</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">53,992</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56,198</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold">As of June 30, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Accounts receivable</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,124</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,629</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,753</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">Property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,394</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55,432</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">57,826</td><td style="text-align: left"> </td></tr> </table> </us-gaap:SegmentReportingDisclosureTextBlock> | |||||||||||||||||||||
<us-gaap:NumberOfOperatingSegments contextRef="c0" decimals="0" id="ixv-9202" unitRef="pure"> 2 </us-gaap:NumberOfOperatingSegments> | |||||||||||||||||||||
<us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock contextRef="c0" id="ixv-9203"> The Company evaluates performance of its operating segments based on revenue and operating profit (loss). Segment information for the three and six months ended December 30, 2023 and 2022 are as follows (in thousands):<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fabrication<br/> Services</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">RF Filters</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Three months ended December 31, 2023</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; padding-left: 9pt">Revenue</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,298</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,719</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">7,017</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; padding-left: 9pt">Cost of revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,253</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,083</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,336</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Gross margin</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,045</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(364</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">681</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-65">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,411</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,411</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">General and administrative</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">903</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">8,391</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,294</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Income (Loss) from Operations</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">142</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(15,167</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(15,024</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold">Three months ended December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt">Revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,891</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,974</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,865</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; padding-left: 9pt">Cost of revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,126</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,148</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,274</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Gross margin</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">765</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(174</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">591</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-66">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,645</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,645</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">General and administrative</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-67">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,838</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,838</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Income (Loss) from Operations</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">765</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(13,657</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(12,892</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold">Six months ended December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt">Revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,960</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">8,059</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">14,019</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; padding-left: 9pt">Cost of revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,800</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">10,622</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">14,422</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Gross margin</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,160</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,563</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(403</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-68">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,758</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,758</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">General and administrative</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,201</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">17,317</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">19,518</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Income (Loss) from Operations</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(41</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(36,638</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(36,679</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold">Six months ended December 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt">Revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,823</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">8,609</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">11,432</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; padding-left: 9pt">Cost of revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,018</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,709</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,727</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Gross margin</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">805</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,100</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(295</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-69">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,730</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,730</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">General and administrative</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-70">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">12,833</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">12,833</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Income (Loss) from Operations</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">805</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(31,663</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(30,858</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold">As of December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Accounts receivable</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,529</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,279</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,808</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">Property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,206</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">53,992</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56,198</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold">As of June 30, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Accounts receivable</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,124</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,629</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,753</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">Property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,394</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55,432</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">57,826</td><td style="text-align: left"> </td></tr> </table> </us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c167" decimals="-3" id="ixv-9204" unitRef="usd"> 3298000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c168" decimals="-3" id="ixv-9205" unitRef="usd"> 3719000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c169" decimals="-3" id="ixv-9206" unitRef="usd"> 7017000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:OtherCostOfOperatingRevenue contextRef="c167" decimals="-3" id="ixv-9207" unitRef="usd"> 2253000 </us-gaap:OtherCostOfOperatingRevenue> | |||||||||||||||||||||
<us-gaap:OtherCostOfOperatingRevenue contextRef="c168" decimals="-3" id="ixv-9208" unitRef="usd"> 4083000 </us-gaap:OtherCostOfOperatingRevenue> | |||||||||||||||||||||
<us-gaap:OtherCostOfOperatingRevenue contextRef="c169" decimals="-3" id="ixv-9209" unitRef="usd"> 6336000 </us-gaap:OtherCostOfOperatingRevenue> | |||||||||||||||||||||
<us-gaap:GrossProfit contextRef="c167" decimals="-3" id="ixv-9210" unitRef="usd"> 1045000 </us-gaap:GrossProfit> | |||||||||||||||||||||
<us-gaap:GrossProfit contextRef="c168" decimals="-3" id="ixv-9211" unitRef="usd"> -364000 </us-gaap:GrossProfit> | |||||||||||||||||||||
<us-gaap:GrossProfit contextRef="c169" decimals="-3" id="ixv-9212" unitRef="usd"> 681000 </us-gaap:GrossProfit> | |||||||||||||||||||||
<us-gaap:OtherResearchAndDevelopmentExpense contextRef="c168" decimals="-3" id="ixv-9213" unitRef="usd"> 6411000 </us-gaap:OtherResearchAndDevelopmentExpense> | |||||||||||||||||||||
<us-gaap:OtherResearchAndDevelopmentExpense contextRef="c169" decimals="-3" id="ixv-9214" unitRef="usd"> 6411000 </us-gaap:OtherResearchAndDevelopmentExpense> | |||||||||||||||||||||
<us-gaap:SellingGeneralAndAdministrativeExpense contextRef="c167" decimals="-3" id="ixv-9215" unitRef="usd"> 903000 </us-gaap:SellingGeneralAndAdministrativeExpense> | |||||||||||||||||||||
<us-gaap:SellingGeneralAndAdministrativeExpense contextRef="c168" decimals="-3" id="ixv-9216" unitRef="usd"> 8391000 </us-gaap:SellingGeneralAndAdministrativeExpense> | |||||||||||||||||||||
<us-gaap:SellingGeneralAndAdministrativeExpense contextRef="c169" decimals="-3" id="ixv-9217" unitRef="usd"> 9294000 </us-gaap:SellingGeneralAndAdministrativeExpense> | |||||||||||||||||||||
<us-gaap:OperatingIncomeLoss contextRef="c167" decimals="-3" id="ixv-9218" unitRef="usd"> 142000 </us-gaap:OperatingIncomeLoss> | |||||||||||||||||||||
<us-gaap:OperatingIncomeLoss contextRef="c168" decimals="-3" id="ixv-9219" unitRef="usd"> -15167000 </us-gaap:OperatingIncomeLoss> | |||||||||||||||||||||
<us-gaap:OperatingIncomeLoss contextRef="c169" decimals="-3" id="ixv-9220" unitRef="usd"> -15024000 </us-gaap:OperatingIncomeLoss> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c170" decimals="-3" id="ixv-9221" unitRef="usd"> 1891000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c171" decimals="-3" id="ixv-9222" unitRef="usd"> 3974000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c172" decimals="-3" id="ixv-9223" unitRef="usd"> 5865000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:OtherCostOfOperatingRevenue contextRef="c170" decimals="-3" id="ixv-9224" unitRef="usd"> 1126000 </us-gaap:OtherCostOfOperatingRevenue> | |||||||||||||||||||||
<us-gaap:OtherCostOfOperatingRevenue contextRef="c171" decimals="-3" id="ixv-9225" unitRef="usd"> 4148000 </us-gaap:OtherCostOfOperatingRevenue> | |||||||||||||||||||||
<us-gaap:OtherCostOfOperatingRevenue contextRef="c172" decimals="-3" id="ixv-9226" unitRef="usd"> 5274000 </us-gaap:OtherCostOfOperatingRevenue> | |||||||||||||||||||||
<us-gaap:GrossProfit contextRef="c170" decimals="-3" id="ixv-9227" unitRef="usd"> 765000 </us-gaap:GrossProfit> | |||||||||||||||||||||
<us-gaap:GrossProfit contextRef="c171" decimals="-3" id="ixv-9228" unitRef="usd"> -174000 </us-gaap:GrossProfit> | |||||||||||||||||||||
<us-gaap:GrossProfit contextRef="c172" decimals="-3" id="ixv-9229" unitRef="usd"> 591000 </us-gaap:GrossProfit> | |||||||||||||||||||||
<us-gaap:OtherResearchAndDevelopmentExpense contextRef="c171" decimals="-3" id="ixv-9230" unitRef="usd"> 7645000 </us-gaap:OtherResearchAndDevelopmentExpense> | |||||||||||||||||||||
<us-gaap:OtherResearchAndDevelopmentExpense contextRef="c172" decimals="-3" id="ixv-9231" unitRef="usd"> 7645000 </us-gaap:OtherResearchAndDevelopmentExpense> | |||||||||||||||||||||
<us-gaap:SellingGeneralAndAdministrativeExpense contextRef="c171" decimals="-3" id="ixv-9232" unitRef="usd"> 5838000 </us-gaap:SellingGeneralAndAdministrativeExpense> | |||||||||||||||||||||
<us-gaap:SellingGeneralAndAdministrativeExpense contextRef="c172" decimals="-3" id="ixv-9233" unitRef="usd"> 5838000 </us-gaap:SellingGeneralAndAdministrativeExpense> | |||||||||||||||||||||
<us-gaap:OperatingIncomeLoss contextRef="c170" decimals="-3" id="ixv-9234" unitRef="usd"> 765000 </us-gaap:OperatingIncomeLoss> | |||||||||||||||||||||
<us-gaap:OperatingIncomeLoss contextRef="c171" decimals="-3" id="ixv-9235" unitRef="usd"> -13657000 </us-gaap:OperatingIncomeLoss> | |||||||||||||||||||||
<us-gaap:OperatingIncomeLoss contextRef="c172" decimals="-3" id="ixv-9236" unitRef="usd"> -12892000 </us-gaap:OperatingIncomeLoss> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c173" decimals="-3" id="ixv-9237" unitRef="usd"> 5960000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c174" decimals="-3" id="ixv-9238" unitRef="usd"> 8059000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c175" decimals="-3" id="ixv-9239" unitRef="usd"> 14019000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:OtherCostOfOperatingRevenue contextRef="c173" decimals="-3" id="ixv-9240" unitRef="usd"> 3800000 </us-gaap:OtherCostOfOperatingRevenue> | |||||||||||||||||||||
<us-gaap:OtherCostOfOperatingRevenue contextRef="c174" decimals="-3" id="ixv-9241" unitRef="usd"> 10622000 </us-gaap:OtherCostOfOperatingRevenue> | |||||||||||||||||||||
<us-gaap:OtherCostOfOperatingRevenue contextRef="c175" decimals="-3" id="ixv-9242" unitRef="usd"> 14422000 </us-gaap:OtherCostOfOperatingRevenue> | |||||||||||||||||||||
<us-gaap:GrossProfit contextRef="c173" decimals="-3" id="ixv-9243" unitRef="usd"> 2160000 </us-gaap:GrossProfit> | |||||||||||||||||||||
<us-gaap:GrossProfit contextRef="c174" decimals="-3" id="ixv-9244" unitRef="usd"> -2563000 </us-gaap:GrossProfit> | |||||||||||||||||||||
<us-gaap:GrossProfit contextRef="c175" decimals="-3" id="ixv-9245" unitRef="usd"> -403000 </us-gaap:GrossProfit> | |||||||||||||||||||||
<us-gaap:OtherResearchAndDevelopmentExpense contextRef="c174" decimals="-3" id="ixv-9246" unitRef="usd"> 16758000 </us-gaap:OtherResearchAndDevelopmentExpense> | |||||||||||||||||||||
<us-gaap:OtherResearchAndDevelopmentExpense contextRef="c175" decimals="-3" id="ixv-9247" unitRef="usd"> 16758000 </us-gaap:OtherResearchAndDevelopmentExpense> | |||||||||||||||||||||
<us-gaap:SellingGeneralAndAdministrativeExpense contextRef="c173" decimals="-3" id="ixv-9248" unitRef="usd"> 2201000 </us-gaap:SellingGeneralAndAdministrativeExpense> | |||||||||||||||||||||
<us-gaap:SellingGeneralAndAdministrativeExpense contextRef="c174" decimals="-3" id="ixv-9249" unitRef="usd"> 17317000 </us-gaap:SellingGeneralAndAdministrativeExpense> | |||||||||||||||||||||
<us-gaap:SellingGeneralAndAdministrativeExpense contextRef="c175" decimals="-3" id="ixv-9250" unitRef="usd"> 19518000 </us-gaap:SellingGeneralAndAdministrativeExpense> | |||||||||||||||||||||
<us-gaap:OperatingIncomeLoss contextRef="c173" decimals="-3" id="ixv-9251" unitRef="usd"> -41000 </us-gaap:OperatingIncomeLoss> | |||||||||||||||||||||
<us-gaap:OperatingIncomeLoss contextRef="c174" decimals="-3" id="ixv-9252" unitRef="usd"> -36638000 </us-gaap:OperatingIncomeLoss> | |||||||||||||||||||||
<us-gaap:OperatingIncomeLoss contextRef="c175" decimals="-3" id="ixv-9253" unitRef="usd"> -36679000 </us-gaap:OperatingIncomeLoss> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c176" decimals="-3" id="ixv-9254" unitRef="usd"> 2823000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c177" decimals="-3" id="ixv-9255" unitRef="usd"> 8609000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:RevenueNotFromContractWithCustomer contextRef="c178" decimals="-3" id="ixv-9256" unitRef="usd"> 11432000 </us-gaap:RevenueNotFromContractWithCustomer> | |||||||||||||||||||||
<us-gaap:OtherCostOfOperatingRevenue contextRef="c176" decimals="-3" id="ixv-9257" unitRef="usd"> 2018000 </us-gaap:OtherCostOfOperatingRevenue> | |||||||||||||||||||||
<us-gaap:OtherCostOfOperatingRevenue contextRef="c177" decimals="-3" id="ixv-9258" unitRef="usd"> 9709000 </us-gaap:OtherCostOfOperatingRevenue> | |||||||||||||||||||||
<us-gaap:OtherCostOfOperatingRevenue contextRef="c178" decimals="-3" id="ixv-9259" unitRef="usd"> 11727000 </us-gaap:OtherCostOfOperatingRevenue> | |||||||||||||||||||||
<us-gaap:GrossProfit contextRef="c176" decimals="-3" id="ixv-9260" unitRef="usd"> 805000 </us-gaap:GrossProfit> | |||||||||||||||||||||
<us-gaap:GrossProfit contextRef="c177" decimals="-3" id="ixv-9261" unitRef="usd"> -1100000 </us-gaap:GrossProfit> | |||||||||||||||||||||
<us-gaap:GrossProfit contextRef="c178" decimals="-3" id="ixv-9262" unitRef="usd"> -295000 </us-gaap:GrossProfit> | |||||||||||||||||||||
<us-gaap:OtherResearchAndDevelopmentExpense contextRef="c177" decimals="-3" id="ixv-9263" unitRef="usd"> 17730000 </us-gaap:OtherResearchAndDevelopmentExpense> | |||||||||||||||||||||
<us-gaap:OtherResearchAndDevelopmentExpense contextRef="c178" decimals="-3" id="ixv-9264" unitRef="usd"> 17730000 </us-gaap:OtherResearchAndDevelopmentExpense> | |||||||||||||||||||||
<us-gaap:SellingGeneralAndAdministrativeExpense contextRef="c177" decimals="-3" id="ixv-9265" unitRef="usd"> 12833000 </us-gaap:SellingGeneralAndAdministrativeExpense> | |||||||||||||||||||||
<us-gaap:SellingGeneralAndAdministrativeExpense contextRef="c178" decimals="-3" id="ixv-9266" unitRef="usd"> 12833000 </us-gaap:SellingGeneralAndAdministrativeExpense> | |||||||||||||||||||||
<us-gaap:OperatingIncomeLoss contextRef="c176" decimals="-3" id="ixv-9267" unitRef="usd"> 805000 </us-gaap:OperatingIncomeLoss> | |||||||||||||||||||||
<us-gaap:OperatingIncomeLoss contextRef="c177" decimals="-3" id="ixv-9268" unitRef="usd"> -31663000 </us-gaap:OperatingIncomeLoss> | |||||||||||||||||||||
<us-gaap:OperatingIncomeLoss contextRef="c178" decimals="-3" id="ixv-9269" unitRef="usd"> -30858000 </us-gaap:OperatingIncomeLoss> | |||||||||||||||||||||
<us-gaap:AccountsReceivableNetCurrent contextRef="c179" decimals="-3" id="ixv-9270" unitRef="usd"> 1529000 </us-gaap:AccountsReceivableNetCurrent> | |||||||||||||||||||||
<us-gaap:AccountsReceivableNetCurrent contextRef="c180" decimals="-3" id="ixv-9271" unitRef="usd"> 3279000 </us-gaap:AccountsReceivableNetCurrent> | |||||||||||||||||||||
<us-gaap:AccountsReceivableNetCurrent contextRef="c181" decimals="-3" id="ixv-9272" unitRef="usd"> 4808000 </us-gaap:AccountsReceivableNetCurrent> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentOtherNet contextRef="c179" decimals="-3" id="ixv-9273" unitRef="usd"> 2206000 </us-gaap:PropertyPlantAndEquipmentOtherNet> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentOtherNet contextRef="c180" decimals="-3" id="ixv-9274" unitRef="usd"> 53992000 </us-gaap:PropertyPlantAndEquipmentOtherNet> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentOtherNet contextRef="c181" decimals="-3" id="ixv-9275" unitRef="usd"> 56198000 </us-gaap:PropertyPlantAndEquipmentOtherNet> | |||||||||||||||||||||
<us-gaap:AccountsReceivableNetCurrent contextRef="c182" decimals="-3" id="ixv-9276" unitRef="usd"> 1124000 </us-gaap:AccountsReceivableNetCurrent> | |||||||||||||||||||||
<us-gaap:AccountsReceivableNetCurrent contextRef="c183" decimals="-3" id="ixv-9277" unitRef="usd"> 3629000 </us-gaap:AccountsReceivableNetCurrent> | |||||||||||||||||||||
<us-gaap:AccountsReceivableNetCurrent contextRef="c184" decimals="-3" id="ixv-9278" unitRef="usd"> 4753000 </us-gaap:AccountsReceivableNetCurrent> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentOtherNet contextRef="c182" decimals="-3" id="ixv-9279" unitRef="usd"> 2394000 </us-gaap:PropertyPlantAndEquipmentOtherNet> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentOtherNet contextRef="c183" decimals="-3" id="ixv-9280" unitRef="usd"> 55432000 </us-gaap:PropertyPlantAndEquipmentOtherNet> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentOtherNet contextRef="c184" decimals="-3" id="ixv-9281" unitRef="usd"> 57826000 </us-gaap:PropertyPlantAndEquipmentOtherNet> | |||||||||||||||||||||
<us-gaap:EarningsPerShareTextBlock contextRef="c0" id="ixv-7018"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 16. Loss Per Share</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Basic net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net loss per common share is determined using the weighted-average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents. In periods when losses are reported, which is the case for the three and six months ended December 31, 2023 and December 31, 2022 presented in these condensed consolidated financial statements, the weighted-average number of common shares outstanding excludes common stock equivalents because their inclusion would be anti-dilutive.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company had the following common stock equivalents at December 31, 2023 and 2022:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, <br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, <br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; text-indent: -9pt; padding-left: 9pt">Convertible Notes</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">9,341,825</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">9,341,825</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Options</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,214,687</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,217,400</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Warrants</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-71">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">41,103</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">12,556,512</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">12,600,328</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> </us-gaap:EarningsPerShareTextBlock> | |||||||||||||||||||||
<us-gaap:ScheduleOfCommonStockOutstandingRollForwardTableTextBlock contextRef="c0" id="ixv-9282"> The Company had the following common stock equivalents at December 31, 2023 and 2022:<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, <br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, <br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; text-indent: -9pt; padding-left: 9pt">Convertible Notes</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">9,341,825</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">9,341,825</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Options</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,214,687</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,217,400</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Warrants</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-71">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">41,103</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">12,556,512</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">12,600,328</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> </us-gaap:ScheduleOfCommonStockOutstandingRollForwardTableTextBlock> | |||||||||||||||||||||
<us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount contextRef="c185" decimals="0" id="ixv-9283" unitRef="shares"> 9341825 </us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount> | |||||||||||||||||||||
<us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount contextRef="c186" decimals="0" id="ixv-9284" unitRef="shares"> 9341825 </us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount> | |||||||||||||||||||||
<us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount contextRef="c187" decimals="0" id="ixv-9285" unitRef="shares"> 3214687 </us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount> | |||||||||||||||||||||
<us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount contextRef="c188" decimals="0" id="ixv-9286" unitRef="shares"> 3217400 </us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount> | |||||||||||||||||||||
<us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount contextRef="c190" decimals="0" id="ixv-9287" unitRef="shares"> 41103 </us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount> | |||||||||||||||||||||
<us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount contextRef="c0" decimals="0" id="ixv-9288" unitRef="shares"> 12556512 </us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount> | |||||||||||||||||||||
<us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount contextRef="c6" decimals="0" id="ixv-9289" unitRef="shares"> 12600328 </us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount> | |||||||||||||||||||||
<us-gaap:FairValueDisclosuresTextBlock contextRef="c0" id="ixv-7084"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 17. Fair Value Measurement</b> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fair value is defined as the price that would be received upon selling an asset or the price paid to transfer a liability on the measurement date. It focuses on the exit price in the principal or most advantageous market for the asset or liability in an orderly transaction between willing market participants. A three-tier fair value hierarchy is established as a basis for considering such assumptions and for inputs used in the valuation methodologies in measuring fair value. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair values are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Level 1: Observable prices in active markets for identical assets and liabilities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Level 2: Observable inputs other than quoted prices in active markets for identical assets and liabilities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table classifies the liabilities measured at fair value on a recurring basis into the fair value hierarchy as of December 31, 2023:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fair value at<br/> December 31,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Derivative liabilities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">74</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-72">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-73">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">74</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">Total fair value</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">74</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-74">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-75">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">74</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table classifies the liabilities measured at fair value on a recurring basis into the fair value hierarchy as of June 30, 2023:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fair value at<br/> June 30,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Derivative liabilities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,080</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-76">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-77">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,080</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">Total fair value</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,080</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-78">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-79">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,080</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth a summary of the changes in the fair value of Level 3 derivative liabilities that are measured at fair value on a recurring basis:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Derivative liabilities</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left; text-indent: -9pt; padding-left: 9pt">Beginning balance</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,080</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Change in fair value of derivative liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,006</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Ending balance</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">74</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There were no transfers between Level 1, 2, or 3 valuation classifications during the three or six months ended December 31, 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value of the embedded derivatives in our convertible notes that were classified as Level 3 in the table above were estimated using a with and without approach on a lattice model framework with significant inputs that are not observable in the market and thus represent a Level 3 fair value measurement as defined in ASC 820. The significant inputs in the Level 3 measurement not supported by market activity include the probability and timing assessments of expected future change of control events, the volatility of our share price and the discount rate used to present value future cash payments under the convertible debt obligation. The development and determination of the unobservable inputs for Level 3 fair value measurements and the fair value calculations are the responsibility of the Company’s chief financial officer and are approved by the chief executive officer.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value of the embedded derivatives in our convertible notes as of December 31, 2023 and June 30, 2023 were valued with the following assumptions: </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31,<br/> 2023</b></span></td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30,<br/> 2023</b></span></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock Price</span></td> <td style="width: 1%"> </td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="width: 8%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.83</span></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="width: 8%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.18</span></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Volatility of stock price</span></td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">80</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">70</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risk free interest rate</span></td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.97</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.32</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Debt yield</span></td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40.5</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40.6</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Remaining term (years)</span></td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.5</span></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.0</span></td> <td> </td></tr> </table> </us-gaap:FairValueDisclosuresTextBlock> | |||||||||||||||||||||
<us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock contextRef="c0" id="ixv-9290"> The following table classifies the liabilities measured at fair value on a recurring basis into the fair value hierarchy as of December 31, 2023:<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fair value at<br/> December 31,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Derivative liabilities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">74</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-72">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-73">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">74</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">Total fair value</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">74</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-74">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-75">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">74</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>The following table classifies the liabilities measured at fair value on a recurring basis into the fair value hierarchy as of June 30, 2023:<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fair value at<br/> June 30,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Derivative liabilities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,080</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-76">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-77">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,080</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">Total fair value</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,080</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-78">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-79">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,080</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> </us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock> | |||||||||||||||||||||
<us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeNet contextRef="c191" decimals="-3" id="ixv-9291" unitRef="usd"> 74000 </us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeNet> | |||||||||||||||||||||
<us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeNet contextRef="c194" decimals="-3" id="ixv-9292" unitRef="usd"> 74000 </us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeNet> | |||||||||||||||||||||
<us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeNet contextRef="c191" decimals="-3" id="ixv-9293" unitRef="usd"> 74000 </us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeNet> | |||||||||||||||||||||
<us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeNet contextRef="c194" decimals="-3" id="ixv-9294" unitRef="usd"> 74000 </us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeNet> | |||||||||||||||||||||
<us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeNet contextRef="c195" decimals="-3" id="ixv-9296" unitRef="usd"> 2080000 </us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeNet> | |||||||||||||||||||||
<us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeNet contextRef="c198" decimals="-3" id="ixv-9297" unitRef="usd"> 2080000 </us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeNet> | |||||||||||||||||||||
<us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeNet contextRef="c195" decimals="-3" id="ixv-9298" unitRef="usd"> 2080000 </us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeNet> | |||||||||||||||||||||
<us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeNet contextRef="c198" decimals="-3" id="ixv-9299" unitRef="usd"> 2080000 </us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeNet> | |||||||||||||||||||||
<us-gaap:ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock contextRef="c0" id="ixv-9300"> The following table sets forth a summary of the changes in the fair value of Level 3 derivative liabilities that are measured at fair value on a recurring basis:<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Derivative liabilities</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left; text-indent: -9pt; padding-left: 9pt">Beginning balance</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,080</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Change in fair value of derivative liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,006</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Ending balance</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">74</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> </us-gaap:ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock> | |||||||||||||||||||||
<us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeNet contextRef="c199" decimals="-3" id="ixv-9301" unitRef="usd"> 2080000 </us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeNet> | |||||||||||||||||||||
<us-gaap:FairValueAdjustmentOfWarrants contextRef="c200" decimals="-3" id="ixv-9302" unitRef="usd"> -2006000 </us-gaap:FairValueAdjustmentOfWarrants> | |||||||||||||||||||||
<us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeNet contextRef="c201" decimals="-3" id="ixv-9303" unitRef="usd"> 74000 </us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeNet> | |||||||||||||||||||||
<akts:ScheduleOfFairValueOfTheEmbeddedDerivativesInOurConvertibleNotesTableTextBlock contextRef="c0" id="ixv-9304"> The fair value of the embedded derivatives in our convertible notes as of December 31, 2023 and June 30, 2023 were valued with the following assumptions:<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31,<br/> 2023</b></span></td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30,<br/> 2023</b></span></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock Price</span></td> <td style="width: 1%"> </td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="width: 8%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.83</span></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="width: 8%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.18</span></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Volatility of stock price</span></td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">80</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">70</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risk free interest rate</span></td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.97</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.32</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Debt yield</span></td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40.5</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40.6</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Remaining term (years)</span></td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.5</span></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.0</span></td> <td> </td></tr> </table> </akts:ScheduleOfFairValueOfTheEmbeddedDerivativesInOurConvertibleNotesTableTextBlock> | |||||||||||||||||||||
<us-gaap:SharePrice contextRef="c2" decimals="2" id="ixv-9305" unitRef="usdPershares"> 0.83 </us-gaap:SharePrice> | |||||||||||||||||||||
<us-gaap:SharePrice contextRef="c3" decimals="2" id="ixv-9306" unitRef="usdPershares"> 3.18 </us-gaap:SharePrice> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate contextRef="c0" decimals="2" id="ixv-9307" unitRef="pure"> 0.80 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate contextRef="c202" decimals="2" id="ixv-9308" unitRef="pure"> 0.70 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate> | |||||||||||||||||||||
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<link:footnote id="ix_0_footnote" xlink:label="ix_0_footnote" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US"> <xhtml:span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leasehold improvements are amortized on a straight-line basis over the term of the lease or the estimated useful lives, whichever is shorter. Buildings are amortized on a straight-line basis between 11 and 39 years.</xhtml:span> </link:footnote> | |||||||||||||||||||||
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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 5/13/24 Akoustis Technologies, Inc. S-3 4:269K EdgarAgents LLC/FA |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 11/02/23 Akoustis Technologies, Inc. 8-K:5,9 11/02/23 12:225K EdgarAgents LLC/FA 11/14/22 Akoustis Technologies, Inc. 8-K:2,5,9 11/10/22 13:336K EdgarAgents LLC/FA 5/01/20 Akoustis Technologies, Inc. 10-Q 3/31/20 77:3.9M EdgarAgents LLC/FA 11/06/19 Akoustis Technologies, Inc. 8-K:5,9 11/04/19 2:43K EdgarAgents LLC/FA 12/16/16 Akoustis Technologies, Inc. 8-K:1,3,5,912/15/16 7:1.4M S2 Filings LLC/FA |