0000849146-24-000016 | 10-Q | XBRL Viewer

Summary of Significant Accounting Policies - Narrative (Details) shares in Thousands			3 Months Ended		6 Months Ended
	Dec. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2023 USD ($) region segment shares	Dec. 31, 2022 USD ($) shares
Concentration Risk [Line Items]
Foreign currency transaction gain (loss), realized			$ 37,000	$ 200,000	$ (100,000)	$ (300,000)
Bad debt expenses			0	0	0	0
Inventory valuation reserves	$ 1,300,000	$ 1,300,000	1,300,000		1,300,000
Deferred revenue	$ 900,000	800,000	900,000		900,000
Revenue recognized related to accrued loyalty points			$ 100,000	(100,000)	$ (40,000)	(100,000)
Money back guarantee period					30 days
Return period for resalable and restockable Items					12 months
Refund percent for resalable and restockable Items	100.00%		100.00%		100.00%
Handling and restocking fee, percentage (as a percent)	10.00%		10.00%		10.00%
Return liability reserve	$ 100,000	100,000	$ 100,000		$ 100,000
Research and development			100,000	200,000	300,000	300,000
Present value of lease liabilities	13,779,000		13,779,000		13,779,000
Loss on contract termination				400,000		400,000
Income tax expense			$ (456,000)	$ (17,000)	$ (256,000)	$ 225,000
Antidilutive securities excluded from EPS calculation (in shares) \| shares			26	200	100	400
Number of geographic segments \| region					2
Number of operating segments \| segment					1
HONG KONG
Concentration Risk [Line Items]
Present value of lease liabilities	0		$ 0		$ 0
Cash accounts held primarily at One Financial Institution
Concentration Risk [Line Items]
Concentration of credit risk	12,600,000	17,000,000
Cash held primarily at Other Financial Institutions
Concentration Risk [Line Items]
Concentration of credit risk	$ 4,700,000	$ 4,600,000

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Lessee, Lease, Description [Line Items]
Weighted average remaining lease term	7 years 6 months 21 days		7 years 6 months 21 days		8 years 3 months 7 days
Weighted average discount rate (as a percent)	3.17%		3.17%		3.25%
Operating lease expense	$ 0.5	$ 0.8	$ 1.1	$ 1.5
Minimum
Lessee, Lease, Description [Line Items]
Lease term	1 year		1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease term	8 years		8 years

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Dec. 31, 2023	Jun. 30, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in USD per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	12,880,000	12,622,000
Common stock, shares outstanding (in shares)	12,880,000	12,622,000

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Revenue, net	$ 51,624	$ 53,662	$ 102,988	$ 105,436
Cost of sales	11,066	11,758	21,246	21,700
Gross profit	40,558	41,904	81,742	83,736
Operating expenses:
Commissions and incentives	21,754	23,556	44,227	47,369
Selling, general and administrative	20,065	19,580	38,027	36,310
Total operating expenses	41,819	43,136	82,254	83,679
Operating (loss) income	(1,261)	(1,232)	(512)	57
Other income (expense):
Interest income, net	108	32	276	32
Other income (expense), net	41	125	(47)	(312)
Total other income (expense)	149	157	229	(280)
Loss before income taxes	(1,112)	(1,075)	(283)	(223)
Income tax benefit (expense)	456	17	256	(225)
Net loss	$ (656)	$ (1,058)	$ (27)	$ (448)
Net loss per share:
Basic (in USD per share)	$ (0.05)	$ (0.08)	$ (0.00)	$ (0.04)
Diluted (in USD per share)	$ (0.05)	$ (0.08)	$ (0.00)	$ (0.04)
Weighted-average shares outstanding:
Basic (in shares)	12,612	12,543	12,574	12,500
Diluted (in shares)	12,612	12,543	12,574	12,500
Other comprehensive income, net of tax:
Foreign currency translation adjustment	$ 463	$ 640	$ 169	$ 130
Other comprehensive income, net of tax	463	640	169	130
Comprehensive income (loss)	$ (193)	$ (418)	$ 142	$ (318)

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2023
Accounting Policies [Abstract]
Consolidation	Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions are eliminated in consolidation.
Use of Estimates	Use of Estimates The Company prepares the condensed consolidated financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America ("GAAP"). In preparing these statements, the Company is required to use estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from those estimates and assumptions. On an ongoing basis, the Company reviews its estimates, including, but not limited to, those related to inventory valuation and obsolescence, sales returns, income taxes and tax valuation reserves, transfer pricing methodology and positions, impairment of assets, share-based compensation, and loss contingencies.
Foreign Currency Translation	Foreign Currency Translation A portion of the Company’s business operations occurs outside the United States. The local currency of each of the Company’s subsidiaries is generally its functional currency. All assets and liabilities are translated into U.S. dollars at exchange rates existing at the balance sheet dates, revenue and expenses are translated at weighted-average exchange rates and stockholders’ equity is recorded at historical exchange rates. The resulting foreign currency translation adjustments are recorded as a separate component of stockholders’ equity in the condensed consolidated balance sheets and as a component of comprehensive income. Transaction gains and losses are included in other expense, net in the condensed consolidated statements of operations and comprehensive income.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers only its monetary liquid assets with original maturities of three months or less as cash and cash equivalents.
Concentration of Credit Risk	Concentration of Credit Risk Accounting guidance for financial instruments requires disclosure of significant concentrations of credit risk regardless of the degree of such risk. Financial instruments with significant credit risk include cash and investments.
Accounts Receivable	Accounts Receivable The Company’s accounts receivable as of December 31, 2023 and June 30, 2023 consist primarily of credit card receivables. Based on the Company’s verification process for customer credit cards and historical information available, management has determined that an allowance for doubtful accounts on credit card sales related to its customer sales as of December 31, 2023 and June 30, 2023 is not necessary.
Inventory	Inventories are carried at the lower of cost or net realizable value, using the first-in, first-out method
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company accounts for assets and liabilities using a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company's market assumptions. These two types of inputs have created the fair-value hierarchy below. This hierarchy requires the Company to minimize the use of unobservable inputs and to use observable market data, if available, when determining fair value. •Level 1—Quoted prices for identical instruments in active markets; •Level 2—Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and •Level 3—Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Our financial instruments, consisting primarily of cash and cash equivalents, accounts receivable, and accounts payable, approximate fair value due to their short-term nature.
Revenue Recognition & Shipping and Handling	Revenue Recognition Revenue is recognized when control of the promised goods or services are transferred to the customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Sales, value-added, and other taxes the Company collects concurrent with revenue-producing activities are excluded from revenue. The Company generates the majority of its revenue through product sales to customers. These products include the Protandim® line of dietary supplements, LifeVantage® Omega+, ProBio, IC Bright®, Daily Wellness, Rise AM, Reset PM, and D3+ dietary supplements, TrueScience® skin, hair, bath & body and targeted relief, Petandim®, Axio® nootropic energy drink mixes, and the PhysIQ™ smart weight management system. The Company ships most of its product directly to the consumer and receives substantially all payment for product sales in the form of credit card receipts. Revenue from direct product sales to customers is recognized upon shipment, which is when passage of title and risk of loss occurs. For items sold in packs and bundles, the Company determines the standalone selling price at contract inception for each distinct good, and then allocates the transaction price on a relative standalone selling price basis. Any discounts are accounted for as a direct reduction to the transaction price. Shipping and handling revenue is recognized upon shipment when the performance obligation is completed. Contract liabilities, recorded as deferred revenue, include loyalty program credit deferrals with certain customers which are accounted for as a reduction in the transaction price and are generally recognized as credits are redeemed for additional products at a later date. The Company also records deferred revenue when cash payments are received or due in advance of performance, including amounts which are refundable. In addition, the Company pre-sells tickets to its events. When cash payments are received in advance of events, the cash received is recorded to deferred revenue until the event is held, at which time the Company has performed its obligations under the contract and the revenue is recognized. Deferred revenue is included in accrued expenses in the consolidated balance sheets. The balance of deferred revenue related to contract liabilities was $0.9 million and $0.8 million as of December 31, 2023 and June 30, 2023, respectively. The contract liabilities impact to revenue for the three months ended December 31, 2023 and 2022 was an increase of $0.1 million and a decrease of $0.1 million, respectively. The contract liabilities impact to revenue for the six months ended December 31, 2023 and 2022 was a decrease of $40,000 and $0.1 million, respectively. Estimated returns are recorded when product is shipped. Subject to some exceptions based on local regulations, the Company’s return policy is to provide a full refund for product returned within 30 days. After 30 days of purchase, only unopened product that is in a resalable and restockable condition may be returned within twelve months of purchase and shall receive a 100% refund, less a 10% handling and restocking fee and any shipping and handling costs. The Company establishes a refund liability reserve, and an asset reserve for its right to recover products, based on historical experience. The returns asset reserve and returns liability reserve are evaluated on a quarterly basis. As of December 31, 2023 and June 30, 2023, the returns liability reserve, net was $0.1 million and $0.1 million, respectively. Shipping and Handling Shipping and handling costs associated with inbound freight and freight out to customers and independent consultants are included in cost of sales. Shipping and handling fees charged to customers and independent consultants are included in revenue.
Research and Development Costs	Research and Development Costs The Company expenses all costs related to research and development activities, as incurred.
Leases	Leases The Company accounts for leases in accordance with Accounting Standards Codification ("ASC") 842. The Company reviews all contracts and determines if the arrangement is or contains a lease, at inception. Operating leases are included in right-of-use (“ROU”) assets, current lease liabilities and long-term lease liabilities on the condensed consolidated balance sheets. The Company does not have any finance leases. Operating lease ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The Company uses its estimated incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The operating lease ROU asset also includes any upfront lease payments made and excludes lease incentives and initial direct costs incurred. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Leases with a term of 12 months or less are not recorded on the balance sheet. The Company’s lease agreements do not contain any residual value guarantees. Changes in the Company's strategies have resulted in operation modifications in certain Asia/Pacific markets resulting in the closure of showrooms and changes to selling models. As of December 31, 2022, the Company abandoned the ROU assets related to the Hong Kong and Singapore showroom leases. These leases were terminated in February 2023 and the Company has no remaining lease liability for these showrooms. Total expenses related to the abandonment of the ROU assets and costs associated with the change in operations in these markets for the three and six months ended December 31, 2022 was $0.4 million and is included in selling, general, and administrative expenses.
Stock-Based Compensation	Stock-Based Compensation The Company recognizes stock-based compensation by measuring the cost of services to be rendered based on the grant date fair value of the equity award. The Company recognizes stock-based compensation, net of any estimated forfeitures, over the period an employee is required to provide service in exchange for the award, generally referred to as the requisite service period. The Company estimates forfeitures based on historical information and other management assumptions. For awards with market-based performance conditions, the cost of the awards is recognized as the requisite service is rendered by employees, regardless of when, if ever, the market-based performance conditions are satisfied. The Black-Scholes option pricing model is used to estimate the fair value of stock options and options under the Company's 2019 Employee Stock Purchase Plan. The determination of the fair value of options is affected by the Company's stock price and a number of assumptions, including expected volatility, expected life, risk-free interest rate and expected dividends. The Company uses historical data for estimating the expected volatility and expected life of stock options required in the Black-Scholes model. The risk-free interest rate assumption is based on observed interest rates appropriate for the expected terms of the stock options. The fair value of restricted stock grants, including performance restricted stock units that include non-market based performance conditions, is based on the closing market price of the Company's stock on the date of grant less the Company's expected dividend yield. The Company recognizes compensation costs for awards with performance conditions when it concludes it is probable that the performance conditions will be achieved. The Company reassesses the probability of vesting at each balance sheet date and adjusts compensation costs accordingly.
Income Taxes	Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using statutory tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled, updated as needed for changes in corporate tax rates. The effect on deferred tax assets and liabilities from a change in tax rates is recognized in income in the period that includes the effective date of the change. The Company recognizes tax liabilities or benefits from an uncertain position only if it is more likely than not that the position will be sustained upon examination by taxing authorities based on the technical merits of the issue. The amount recognized would be the largest liability or benefit that the Company believes has greater than a 50% likelihood of being realized upon settlement.
Income Per Share	Income (loss) Per Share Basic income (loss) per common share is computed by dividing the net income (loss) by the weighted-average number of common shares outstanding during the period, less unvested restricted stock awards. Diluted income (loss) per common share is computed by dividing net income by the weighted-average common shares and potentially dilutive common share equivalents using the treasury stock method.
Segment Information	Segment Information and Disaggregated Revenue The Company operates in a single operating segment by selling products directly to customers and through an international network of independent consultants that operates in an integrated manner from market to market. Commissions and incentives expenses are the Company’s largest expense comprised of the commissions paid to its independent consultants. The Company manages its business primarily by managing its international network of independent consultants. The Company disaggregates revenue in two geographic regions: the Americas region and the Asia/Pacific & Europe region.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Current assets
Cash and cash equivalents	$ 17,331	$ 21,605
Accounts receivable	2,335	1,612
Income tax receivable	234	241
Inventory, net	14,972	16,073
Prepaid expenses and other	3,789	4,753
Total current assets	38,661	44,284
Long-term assets
Property and equipment, net	8,970	9,086
Right-of-use assets	9,526	8,738
Intangible assets, net	389	455
Deferred income tax asset	4,618	2,991
Other long-term assets	518	569
TOTAL ASSETS	62,682	66,123
Current liabilities
Accounts payable	6,237	3,505
Commissions payable	6,798	6,651
Income tax payable	825	0
Lease liabilities	1,646	1,521
Other accrued expenses	7,511	7,932
Total current liabilities	23,017	19,609
Long-term lease liabilities	12,133	11,566
Other long-term liabilities	225	299
Total liabilities	35,375	31,474
Commitments and contingencies - Note 7
Stockholders’ equity
Preferred stock — par value $0.0001 per share, 5,000 shares authorized, no shares issued or outstanding	0	0
Common stock — par value $0.0001 per share, 40,000 shares authorized and 12,880 and 12,622 issued and outstanding as of December 31, 2023 and June 30, 2023, respectively	1	1
Additional paid-in capital	135,490	134,314
Accumulated deficit	(106,992)	(98,305)
Accumulated other comprehensive loss	(1,192)	(1,361)
Total stockholders’ equity	27,307	34,649
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 62,682	$ 66,123

Summary of Significant Accounting Policies

6 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Consolidation

The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions are eliminated in consolidation.

Use of Estimates

The Company prepares the condensed consolidated financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America ("GAAP"). In preparing these statements, the Company is required to use estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from those estimates and assumptions. On an ongoing basis, the Company reviews its estimates, including, but not limited to, those related to inventory valuation and obsolescence, sales returns, income taxes and tax valuation reserves, transfer pricing methodology and positions, impairment of assets, share-based compensation, and loss contingencies.

Foreign Currency Translation

A portion of the Company’s business operations occurs outside the United States. The local currency of each of the Company’s subsidiaries is generally its functional currency. All assets and liabilities are translated into U.S. dollars at exchange rates existing at the balance sheet dates, revenue and expenses are translated at weighted-average exchange rates and stockholders’ equity is recorded at historical exchange rates. The resulting foreign currency translation adjustments are recorded

as a separate component of stockholders’ equity in the condensed consolidated balance sheets and as a component of comprehensive income. Transaction gains and losses are included in other expense, net in the condensed consolidated statements of operations and comprehensive income. For the three months ended December 31, 2023 and 2022, net foreign currency gains of $37,000 and $0.2 million, respectively, are recorded in other income (expense), net. For the six months ended December 31, 2023 and 2022, net foreign currency losses of $0.1 million and $0.3 million, respectively, are recorded in other income (expense), net.

Cash and Cash Equivalents

The Company considers only its monetary liquid assets with original maturities of three months or less as cash and cash equivalents.

Concentration of Credit Risk

Accounting guidance for financial instruments requires disclosure of significant concentrations of credit risk regardless of the degree of such risk. Financial instruments with significant credit risk include cash and investments. At December 31, 2023, the Company had $12.6 million in cash accounts at one financial institution and $4.7 million in accounts at other financial institutions. At June 30, 2023, the Company had $17.0 million in cash accounts at one financial institution and $4.6 million in accounts at other financial institutions. As of December 31, 2023 and June 30, 2023, and during the periods then ended, the Company’s cash balances exceeded federally insured limits.

Accounts Receivable

The Company’s accounts receivable as of December 31, 2023 and June 30, 2023 consist primarily of credit card receivables. Based on the Company’s verification process for customer credit cards and historical information available, management has determined that an allowance for doubtful accounts on credit card sales related to its customer sales as of December 31, 2023 and June 30, 2023 is not necessary. No bad debt expense was recorded during the three and six months ended December 31, 2023 and 2022.

Inventory

As of December 31, 2023 and June 30, 2023, inventory consisted of (in thousands):


	December 31, 2023				June 30, 2023
Finished goods	$	11,766	78.6	%	$	12,153	75.6	%
Raw materials	3,206		21.4	%	3,920		24.4	%
Total inventory	$	14,972	100.0	%	$	16,073	100.0	%

Inventories are carried at the lower of cost or net realizable value, using the first-in, first-out method, which includes a reduction in inventory values of $1.3 million and $1.3 million at December 31, 2023 and June 30, 2023, respectively, related to obsolete and slow-moving inventory.

Fair Value of Financial Instruments

The Company accounts for assets and liabilities using a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company's market assumptions. These two types of inputs have created the fair-value hierarchy below. This hierarchy requires the Company to minimize the use of unobservable inputs and to use observable market data, if available, when determining fair value.

•Level 1—Quoted prices for identical instruments in active markets;

•Level 2—Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and

•Level 3—Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

Our financial instruments, consisting primarily of cash and cash equivalents, accounts receivable, and accounts payable, approximate fair value due to their short-term nature.

Revenue Recognition

Revenue is recognized when control of the promised goods or services are transferred to the customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Sales, value-added, and other taxes the Company collects concurrent with revenue-producing activities are excluded from revenue.

The Company generates the majority of its revenue through product sales to customers. These products include the Protandim® line of dietary supplements, LifeVantage® Omega+, ProBio, IC Bright®, Daily Wellness, Rise AM, Reset PM, and D3+ dietary supplements, TrueScience® skin, hair, bath & body and targeted relief, Petandim®, Axio® nootropic energy drink mixes, and the PhysIQ™ smart weight management system. The Company ships most of its product directly to the consumer and receives substantially all payment for product sales in the form of credit card receipts. Revenue from direct product sales to customers is recognized upon shipment, which is when passage of title and risk of loss occurs. For items sold in packs and bundles, the Company determines the standalone selling price at contract inception for each distinct good, and then allocates the transaction price on a relative standalone selling price basis. Any discounts are accounted for as a direct reduction to the transaction price. Shipping and handling revenue is recognized upon shipment when the performance obligation is completed.

Contract liabilities, recorded as deferred revenue, include loyalty program credit deferrals with certain customers which are accounted for as a reduction in the transaction price and are generally recognized as credits are redeemed for additional products at a later date. The Company also records deferred revenue when cash payments are received or due in advance of performance, including amounts which are refundable. In addition, the Company pre-sells tickets to its events. When cash payments are received in advance of events, the cash received is recorded to deferred revenue until the event is held, at which time the Company has performed its obligations under the contract and the revenue is recognized.

Deferred revenue is included in accrued expenses in the consolidated balance sheets. The balance of deferred revenue related to contract liabilities was $0.9 million and $0.8 million as of December 31, 2023 and June 30, 2023, respectively. The contract liabilities impact to revenue for the three months ended December 31, 2023 and 2022 was an increase of $0.1 million and a decrease of $0.1 million, respectively. The contract liabilities impact to revenue for the six months ended December 31, 2023 and 2022 was a decrease of $40,000 and $0.1 million, respectively.

Estimated returns are recorded when product is shipped. Subject to some exceptions based on local regulations, the Company’s return policy is to provide a full refund for product returned within 30 days. After 30 days of purchase, only unopened product that is in a resalable and restockable condition may be returned within twelve months of purchase and shall receive a 100% refund, less a 10% handling and restocking fee and any shipping and handling costs. The Company establishes a refund liability reserve, and an asset reserve for its right to recover products, based on historical experience. The returns asset reserve and returns liability reserve are evaluated on a quarterly basis. As of December 31, 2023 and June 30, 2023, the returns liability reserve, net was $0.1 million and $0.1 million, respectively.

Shipping and Handling

Shipping and handling costs associated with inbound freight and freight out to customers and independent consultants are included in cost of sales. Shipping and handling fees charged to customers and independent consultants are included in revenue.

Research and Development Costs

The Company expenses all costs related to research and development activities, as incurred. Research and development expenses for the three months ended December 31, 2023 and 2022 were $0.1 million and $0.2 million, respectively. Research and development expenses for the six months ended December 31, 2023 and 2022 were $0.3 million and $0.3 million, respectively.

Leases

The Company accounts for leases in accordance with Accounting Standards Codification ("ASC") 842. The Company reviews all contracts and determines if the arrangement is or contains a lease, at inception. Operating leases are included in right-of-use (“ROU”) assets, current lease liabilities and long-term lease liabilities on the condensed consolidated balance sheets. The Company does not have any finance leases.

Operating lease ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The Company uses its estimated incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The operating lease ROU asset also includes any upfront lease payments made and excludes lease incentives and initial direct costs incurred. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for minimum

lease payments is recognized on a straight-line basis over the lease term. Leases with a term of 12 months or less are not recorded on the balance sheet. The Company’s lease agreements do not contain any residual value guarantees.

Changes in the Company's strategies have resulted in operation modifications in certain Asia/Pacific markets resulting in the closure of showrooms and changes to selling models. As of December 31, 2022, the Company abandoned the ROU assets related to the Hong Kong and Singapore showroom leases. These leases were terminated in February 2023 and the Company has no remaining lease liability for these showrooms. Total expenses related to the abandonment of the ROU assets and costs associated with the change in operations in these markets for the three and six months ended December 31, 2022 was $0.4 million and is included in selling, general, and administrative expenses.

Stock-Based Compensation

The Company recognizes stock-based compensation by measuring the cost of services to be rendered based on the grant date fair value of the equity award. The Company recognizes stock-based compensation, net of any estimated forfeitures, over the period an employee is required to provide service in exchange for the award, generally referred to as the requisite service period. The Company estimates forfeitures based on historical information and other management assumptions. For awards with market-based performance conditions, the cost of the awards is recognized as the requisite service is rendered by employees, regardless of when, if ever, the market-based performance conditions are satisfied.

The Black-Scholes option pricing model is used to estimate the fair value of stock options and options under the Company's 2019 Employee Stock Purchase Plan. The determination of the fair value of options is affected by the Company's stock price and a number of assumptions, including expected volatility, expected life, risk-free interest rate and expected dividends. The Company uses historical data for estimating the expected volatility and expected life of stock options required in the Black-Scholes model. The risk-free interest rate assumption is based on observed interest rates appropriate for the expected terms of the stock options.

The fair value of restricted stock grants, including performance restricted stock units that include non-market based performance conditions, is based on the closing market price of the Company's stock on the date of grant less the Company's expected dividend yield. The Company recognizes compensation costs for awards with performance conditions when it concludes it is probable that the performance conditions will be achieved. The Company reassesses the probability of vesting at each balance sheet date and adjusts compensation costs accordingly.

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using statutory tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled, updated as needed for changes in corporate tax rates. The effect on deferred tax assets and liabilities from a change in tax rates is recognized in income in the period that includes the effective date of the change. The Company recognizes tax liabilities or benefits from an uncertain position only if it is more likely than not that the position will be sustained upon examination by taxing authorities based on the technical merits of the issue. The amount recognized would be the largest liability or benefit that the Company believes has greater than a 50% likelihood of being realized upon settlement.

For the six months ended December 31, 2023 and 2022, the Company recognized income tax benefit of $0.3 million and tax expense of $0.2 million, respectively, which is reflective of the Company’s current estimated federal, state and foreign effective tax rate. Realization of deferred tax assets is dependent upon future earnings in specific tax jurisdictions, the timing and amount of which are uncertain.

Income (loss) Per Share

Basic income (loss) per common share is computed by dividing the net income (loss) by the weighted-average number of common shares outstanding during the period, less unvested restricted stock awards. Diluted income (loss) per common share is computed by dividing net income by the weighted-average common shares and potentially dilutive common share equivalents using the treasury stock method.

For the three months ended December 31, 2023 and 2022, the effects of approximately 26,000 and 0.2 million common shares, respectively, issuable upon exercise of options and non-vested shares of restricted stock are not included in computations as their effect was anti-dilutive. For the six months ended December 31, 2023 and 2022, the effects of approximately 0.1 million and 0.4 million common shares, respectively, issuable upon exercise of options and non-vested shares of restricted stock are not included in computations as their effect was anti-dilutive.

The following is a reconciliation of net income (loss) per share and the weighted-average common shares outstanding for purposes of computing basic and diluted net income (loss) per share (in thousands, except per share amounts):


	Three Months Ended December 31,				Six Months Ended December 31,
	2023		2022		2023		2022
Numerator:
Net loss	$	(656)	$	(1,058)	$	(27)	$	(448)
Denominator:
Basic weighted-average common shares outstanding	12,612		12,543		12,574		12,500
Effect of dilutive securities:
Stock awards and options	—		—		—		—

Diluted weighted-average common shares outstanding	12,612		12,543		12,574		12,500
Net loss per share, basic	$	(0.05)	$	(0.08)	$	0.00	$	(0.04)
Net loss per share, diluted	$	(0.05)	$	(0.08)	$	0.00	$	(0.04)

Segment Information and Disaggregated Revenue

The Company operates in a single operating segment by selling products directly to customers and through an international network of independent consultants that operates in an integrated manner from market to market. Commissions and incentives expenses are the Company’s largest expense comprised of the commissions paid to its independent consultants. The Company manages its business primarily by managing its international network of independent consultants. The Company disaggregates revenue in two geographic regions: the Americas region and the Asia/Pacific & Europe region.

The following table presents the Company's revenue disaggregated by these two geographic regions (in thousands):


	Three Months Ended December 31,				Six Months Ended December 31,
	2023		2022		2023		2022
Americas	$	39,065	$	39,705	$	77,580	$	76,074
Asia/Pacific & Europe	12,559		13,957		25,408		29,362
Total revenue	$	51,624	$	53,662	$	102,988	$	105,436

Additional information as to the Company’s revenue from operations in the most significant geographical areas is set forth below (in thousands):


	Three Months Ended December 31,				Six Months Ended December 31,
	2023		2022		2023		2022
United States	$	37,219	$	37,972	$	74,115	$	72,630
Japan	$	7,314	$	7,365	$	14,828	$	15,533

The following table presents the Company's long-lived assets for its most significant geographic markets (in thousands):


	December 31, 2023		June 30, 2023
United States	$	20,904	$	20,504
Japan	$	2,411	$	354

Long-Term Debt	6 Months Ended
Long-Term Debt	Dec. 31, 2023
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt On March 30, 2016, the Company entered into a loan agreement (the "2016 Loan Agreement") and a security agreement (the "Security Agreement"). The 2016 Loan Agreement provides for a term loan in an aggregate principal amount of $10.0 million (the "2016 Term Loan") and a revolving loan facility in an aggregate principal amount not to exceed $2.0 million (the "2016 Revolving Loan," and collectively with the 2016 Term Loan, the 2016 Loan Agreement and the Security Agreement, the "2016 Credit Facility" and together with the amendments described below, the "Credit Facility"). During the fiscal year ended June 30, 2020, the Company repaid, in full, the balance of the 2016 Term Loan. On May 4, 2018 and February 1, 2019, the Company entered into loan modification agreements (“Amendment No. 1” and “Amendment No. 2”, respectively). These loan modification agreements amended certain financial covenants and the available borrowing amount under the 2016 Revolving Loan. On April 1, 2021, the Company entered into a loan modification agreement ("Amendment No. 3"), which amended the Credit Facility. Amendment No. 3, with an available borrowing amount of $5.0 million, a revised maturity date from March 31, 2021 to March 31, 2024, and a modified variable interest rate based on the one-month United States Treasury Rate, plus a margin of 3.00%, with an interest rate floor of 4.00%. Amendment No. 3 also revised the debt (total liabilities) to tangible net worth ratio (as defined in Amendment No. 3) covenant to require that the Company maintain this ratio not in excess of 2.00 to 1.00, measured as of the end of each fiscal quarter, and revised the definition and calculation of the minimum fixed charge coverage ratio (as defined in Amendment No. 3). There were no other changes to the minimum fixed charge coverage ratio of 1.10 to 1.00 or the minimum working capital of $6.0 million as set forth in previous amendments. The Credit Facility, contains customary covenants, including affirmative and negative covenants that, among other things, restrict the Company's ability to create certain types of liens, incur additional indebtedness, declare or pay dividends on or redeem capital stock without prior approval, make other payments to holders of equity interests in the Company, make certain investments, purchase or otherwise acquire all or substantially all the assets or equity interests of other companies, sell assets or enter into consolidations, mergers or transfers of all or any substantial part of the Company's assets. The Credit Facility, contains cross-default provisions, whereby a default under the terms of certain indebtedness or an uncured default of a payment or other material obligation of the Company under a material contract of the Company will cause a default on the remaining indebtedness under the Credit Facility. The Company’s obligations under the Credit Facility, are secured by a security interest in substantially all of the Company’s assets. The Company entered into a loan modification agreement ("Amendment No. 4"), effective September 30, 2022, which further amended the Credit Facility. Amendment No. 4 revised the calculation of the minimum fixed charge coverage ratio (as defined in Amendment No. 4) and allows the Company to declare and pay dividends, up to $500,000 per quarter, through September 30, 2023. There were no other changes to the covenants or revolving loan facility as set forth in Amendment No. 3. As of December 31, 2023, the effective interest rate is 8.60%. If the Company borrows under the 2016 Revolving Loan, interest will be payable quarterly in arrears on the last day of each fiscal quarter. On August 28, 2023, the Company received approval, without modifying Amendment No. 4, to declare and pay a one-time cash dividend of $0.40 per share of common stock, to be paid on September 22, 2023. The Company also received approval to declare and pay dividends, up to $750,000, per quarter, through September 30, 2024. As of December 31, 2023, the Company was in compliance with its financial covenants under the Credit Facility other than its covenant related to the minimum fixed charge coverage ratio. The Company requested, and was granted, a waiver related to this covenant violation as of December 31, 2023. As of December 31, 2023, there was no balance outstanding on this credit facility.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Paragraph 1
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Leases - Schedule of Maturity of Lease Liabilities (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024 (remaining six months ending June 30, 2024)	$ 1,071
2025	1,937
2026	1,978
2027	2,019
2028	2,061
Thereafter	6,394
Total	15,460
Less: imputed interest	(1,681)
Present value of lease liabilities	$ 13,779

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contingencies The Company accounts for contingent liabilities in accordance with ASC 450, Contingencies. This guidance requires management to assess potential contingent liabilities that may exist as of the date of the financial statements to determine the probability and amount of loss that may have occurred, which inherently involves an exercise of judgment. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. For loss contingencies considered remote, no accrual or disclosures are generally made. Management has assessed potential contingent liabilities as of December 31, 2023, and based on the assessment, there are no probable loss contingencies requiring accrual or disclosures within its financial statements. Legal Accruals In addition to commitments and obligations in the ordinary course of business, from time to time, the Company is subject to various claims, pending and potential legal actions, investigations relating to governmental laws and regulations and other matters arising out of the normal conduct of its business. Management assesses contingencies to determine the degree of probability and range of possible loss for potential accrual in the consolidated financial statements. An estimated loss contingency is accrued in the consolidated financial statements if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Because evaluating legal claims and litigation results are inherently unpredictable and unfavorable results could occur, assessing contingencies is highly subjective and requires judgments about future events. When evaluating contingencies, management may be unable to provide a meaningful estimate due to a number of factors, including the procedural status of the matter in question, the presence of complex or novel legal theories, and/or the ongoing discovery and development of information important to the matters. In addition, damage amounts claimed or asserted against the Company may be unsupported, exaggerated or unrelated to possible outcomes, and as such are not meaningful indicators of a potential liability. Management regularly reviews contingencies to determine the adequacy of financial statement accruals and related disclosures. The amount of ultimate loss may differ from these estimates. It is possible that cash flows or results of operations could be materially affected in any particular period by the unfavorable publicity or resolution of one or more of these contingencies. Whether any losses finally determined in any claim, action, investigation or proceeding or publicity related to such could reasonably have a material effect on the Company's business, financial condition, results of operations or cash flows will depend on a number of variables, including: the timing and amount of such losses; the structure and type of any remedies; the significance of the impact of any such losses, damages or remedies may have on the consolidated financial statements; and the unique facts and circumstances of the particular matter that may give rise to additional factors. Other Matters. In addition to the matters described above, the Company also may become involved in other litigation and regulatory matters incidental to its business and the matters disclosed in this quarterly report on Form 10-Q, including, but not limited to, product liability claims, regulatory actions, employment matters and commercial disputes. The Company intends to defend itself in any such matters and does not currently believe that the outcome of any such matters will have a material adverse effect on the Company's business, financial condition, results of operations and cash flows.

- Definition

The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made.

+ References + Details

Leases

6 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

The Company has operating leases for current corporate offices and certain equipment. These leases have remaining terms of approximately one to eight years. As of December 31, 2023, the weighted average remaining lease term and weighted average discount rate for operating leases was 7.56 years and 3.17%, respectively. As of June 30, 2023, the weighted average remaining lease term and weighted average discount rate for operating leases was 8.27 years and 3.25%, respectively.

For the three months ended December 31, 2023 and 2022, operating lease expense was $0.5 million and $0.8 million, respectively. For the six months ended December 31, 2023 and 2022, operating lease expense was $1.1 million and $1.5 million, respectively.

The components of lease expense for the three and six months ended December 31, 2023 and 2022, were as follows:


	Three Months Ended December 31,				Six Months Ended December 31,
	2023		2022		2023		2022
Operating lease expense
Operating lease cost	$	462	$	742	$	992	$	1,413
Variable lease cost	45		58		94		85
Short-term lease costs	12		22		23		45
Total lease expense	$	519	$	822	$	1,109	$	1,543

Supplemental cash flow information related to operating leases was as follows (in thousands):


	Three Months Ended December 31,				Six Months Ended December 31,
	2023		2022		2023		2022
Operating cash outflows from operating leases	$	533	$	755	$	1,090	$	1,506
Right-of-use assets obtained in exchange for lease obligations	$	—	$	—	$	1,502	$	—

Maturity of lease liabilities at December 31, 2023 are as follows (in thousands):


Year ended June 30,	Amount
2024 (remaining six months ending June 30, 2024)	$	1,071
2025	1,937
2026	1,978
2027	2,019
2028	2,061
Thereafter	6,394
Total	15,460
Less: imputed interest	(1,681)
Present value of lease liabilities	$	13,779

Summary of Significant Accounting Policies - Summary of Computation of Net (Loss) Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022
Numerator:
Net loss	$ (656)	$ 629	$ (1,058)	$ 610	$ (27)	$ (448)
Denominator:
Basic weighted-average common shares outstanding (in shares)	12,612		12,543		12,574	12,500
Effect of dilutive securities:
Stock awards and options (in shares)	0		0		0	0
Diluted weighted-average common shares outstanding (in shares)	12,612		12,543		12,574	12,500
Net income per share, basic (in USD per share)	$ (0.05)		$ (0.08)		$ (0.00)	$ (0.04)
Net income per share, diluted (in USD per share)	$ (0.05)		$ (0.08)		$ (0.00)	$ (0.04)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Summary of Significant Accounting Policies - Components of Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 11,766	$ 12,153
Raw materials	3,206	3,920
Total inventory	$ 14,972	$ 16,073
Finished goods, percent of inventory (in percentage)	78.60%	75.60%
Raw materials, percent of inventory (in percentage)	21.40%	24.40%
Percent of total inventory (in percentage)	100.00%	100.00%

Leases - Schedule of Lease, Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating cash outflows from operating leases	$ 533	$ 755	$ 1,090	$ 1,506
Right-of-use assets obtained in exchange for lease obligations	$ 0	$ 0	$ 1,502	$ 0

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Jun. 30, 2022		12,493
Beginning balance at Jun. 30, 2022	$ 31,516	$ 1	$ 131,075	$ (98,437)	$ (1,123)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	602		602
Common stock issued under equity award plans (in shares)		48
Common stock issued under equity award plans	0
Shares canceled or surrendered as payment of tax withholding and other (in shares)		(17)
Shares canceled or surrendered as payment of tax withholding and other	(72)		(72)
Common stock issued under employee stock purchase plan (in shares)		36
Common stock issued under employee stock purchase plan	121		121
Cash dividends	(377)			(377)
Currency translation adjustment	(510)				(510)
Net income	610			610
Ending balance (in shares) at Sep. 30, 2022		12,560
Ending balance at Sep. 30, 2022	31,890	$ 1	131,726	(98,204)	(1,633)
Beginning balance (in shares) at Jun. 30, 2022		12,493
Beginning balance at Jun. 30, 2022	$ 31,516	$ 1	131,075	(98,437)	(1,123)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares canceled or surrendered as payment of tax withholding and other (in shares)	(22)
Common stock issued under employee stock purchase plan (in shares)	36
Net income	$ (448)
Ending balance (in shares) at Dec. 31, 2022		12,707
Ending balance at Dec. 31, 2022	31,895	$ 1	132,530	(99,643)	(993)
Beginning balance (in shares) at Sep. 30, 2022		12,560
Beginning balance at Sep. 30, 2022	31,890	$ 1	131,726	(98,204)	(1,633)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	823		823
Common stock issued under equity award plans (in shares)		152
Common stock issued under equity award plans	0
Shares canceled or surrendered as payment of tax withholding and other (in shares)		(5)
Shares canceled or surrendered as payment of tax withholding and other	(19)		(19)
Cash dividends	(381)			(381)
Currency translation adjustment	640				640
Net income	(1,058)			(1,058)
Ending balance (in shares) at Dec. 31, 2022		12,707
Ending balance at Dec. 31, 2022	$ 31,895	$ 1	132,530	(99,643)	(993)
Beginning balance (in shares) at Jun. 30, 2023	12,622	12,622
Beginning balance at Jun. 30, 2023	$ 34,649	$ 1	134,314	(98,305)	(1,361)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	978		978
Common stock issued under equity award plans (in shares)		281
Common stock issued under equity award plans	0
Shares canceled or surrendered as payment of tax withholding and other (in shares)		(90)
Shares canceled or surrendered as payment of tax withholding and other	(465)		(465)
Repurchase of company stock (in shares)		(145)
Repurchase of company stock	(795)			(795)
Common stock issued under employee stock purchase plan (in shares)		39
Common stock issued under employee stock purchase plan	126		126
Cash dividends	(5,534)			(5,534)
Currency translation adjustment	(294)				(294)
Net income	629			629
Ending balance (in shares) at Sep. 30, 2023		12,707
Ending balance at Sep. 30, 2023	$ 29,294	$ 1	134,953	(104,005)	(1,655)
Beginning balance (in shares) at Jun. 30, 2023	12,622	12,622
Beginning balance at Jun. 30, 2023	$ 34,649	$ 1	134,314	(98,305)	(1,361)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares canceled or surrendered as payment of tax withholding and other (in shares)	(100)
Repurchase of company stock (in shares)	(400)
Common stock issued under employee stock purchase plan (in shares)	39
Net income	$ (27)
Ending balance (in shares) at Dec. 31, 2023	12,880	12,880
Ending balance at Dec. 31, 2023	$ 27,307	$ 1	135,490	(106,992)	(1,192)
Beginning balance (in shares) at Sep. 30, 2023		12,707
Beginning balance at Sep. 30, 2023	29,294	$ 1	134,953	(104,005)	(1,655)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	750		750
Common stock issued under equity award plans (in shares)		495
Common stock issued under equity award plans	0
Shares canceled or surrendered as payment of tax withholding and other (in shares)		(34)
Shares canceled or surrendered as payment of tax withholding and other	$ (213)		(213)
Repurchase of company stock (in shares)	(300)	(288)
Repurchase of company stock	$ (1,876)			(1,876)
Cash dividends	(455)			(455)
Currency translation adjustment	463				463
Net income	$ (656)			(656)
Ending balance (in shares) at Dec. 31, 2023	12,880	12,880
Ending balance at Dec. 31, 2023	$ 27,307	$ 1	$ 135,490	$ (106,992)	$ (1,192)

Cover Page - shares	6 Months Ended
Cover Page - shares	Dec. 31, 2023	Jan. 29, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	001-35647
Entity Registrant Name	LIFEVANTAGE CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	90-0224471
Entity Address, Address Line One	3300 Triumph Blvd
Entity Address, Address Line Two	Suite 700
Entity Address, City or Town	Lehi
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84043
City Area Code	801
Local Phone Number	432-9000
Title of 12(b) Security	Common Stock, par value $0.0001
Trading Symbol	LFVN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		12,868,462
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000849146
Current Fiscal Year End Date	--06-30

Organization and Basis of Presentation	6 Months Ended
Organization and Basis of Presentation	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation LifeVantage Corporation (the "Company") is a company focused on nutrigenomics, the study of how nutrition and naturally occurring compounds affect human genes to support good health. The Company is dedicated to helping people achieve their health, wellness and financial goals. The Company provides quality, scientifically-validated products to customers and independent consultants as well as a financially rewarding commission-based direct sales opportunity to its independent consultants. LifeVantage sells its products in the United States, Mexico, Japan, Australia, Hong Kong, Canada, Thailand, the United Kingdom, the Netherlands, Germany, Taiwan, Austria, Spain, Ireland, Belgium, New Zealand, Singapore, and the Philippines. The Company sold its products in China through a China approved cross-border e-commerce business model until March 15, 2023, at which time the Company closed its e-commerce business in China. The Company engages in the identification, research, development, formulation and sale of advanced nutrigenomic activators, dietary supplements, nootropics, pre- and pro-biotics, weight management, skin and hair care, bath & body, and targeted relief products. The Company’s line of scientifically validated dietary supplements includes its flagship Protandim® family of products, LifeVantage® Omega+, ProBio, IC Bright®, Daily Wellness, Rise AM, Reset PM and D3+ dietary supplements. TrueScience® is the Company's Nrf2 enhanced line of skin, hair, bath & body, and targeted relief products. The Company also markets and sells Petandim®, its companion pet supplement formulated to combat oxidative stress in dogs, AXIO® its nootropic energy drink mixes, and PhysIQ™, its smart weight management system. The condensed consolidated financial statements included herein have been prepared by the Company’s management, without audit, pursuant to the rules and regulations of the SEC. In the opinion of the Company’s management, these interim financial statements include all adjustments that are considered necessary for a fair presentation of its financial position as of December 31, 2023, and the results of operations for the three and six months ended December 31, 2023 and 2022, and the cash flows for the six months ended December 31, 2023 and 2022. Interim results are not necessarily indicative of results for a full year or for any future period. The condensed consolidated financial statements and notes included herein are presented as required by Form 10-Q, and do not contain certain information included in the Company’s audited financial statements and notes for the fiscal year ended June 30, 2023, pursuant to the rules and regulations of the SEC. For further information, refer to the financial statements and notes thereto as of and for the year ended June 30, 2023, and included in the annual report on Form 10-K on file with the SEC.

Leases - Schedule Of Lease Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Operating lease expense
Operating lease cost	$ 462	$ 742	$ 992	$ 1,413
Variable lease cost	45	58	94	85
Short-term lease costs	12	22	23	45
Total lease expense	$ 519	$ 822	$ 1,109	$ 1,543

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash Flows from Operating Activities:
Net loss	$ (27)	$ (448)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	1,880	1,809
Stock-based compensation	1,728	1,425
Non-cash operating lease expense	575	761
Loss on disposal of assets	0	7
Deferred income tax	(1,627)	(1,230)
Changes in operating assets and liabilities:
Accounts receivable	(703)	913
Income tax receivable	7	861
Inventory, net	1,183	(3,915)
Prepaid expenses and other	970	1,941
Other long-term assets	61	(1)
Accounts payable	2,641	761
Income tax payable	825	(453)
Other accrued expenses	(491)	(1,858)
Lease liabilities	(674)	(673)
Other long-term liabilities	174	(278)
Net Cash Provided by (Used in) Operating Activities	6,522	(378)
Cash Flows from Investing Activities:
Purchase of property and equipment	(1,676)	(1,564)
Net Cash Used in Investing Activities	(1,676)	(1,564)
Cash Flows from Financing Activities:
Repurchase of company stock	(2,671)	0
Payment of cash dividends	(5,989)	(758)
Shares canceled or surrendered as payment of tax withholding and other	(678)	(91)
Proceeds from common stock issued under employee stock purchase plan	126	121
Net Cash Used in Financing Activities	(9,212)	(728)
Foreign Currency Effect on Cash	92	(150)
Decrease in Cash and Cash Equivalents:	(4,274)	(2,820)
Cash and Cash Equivalents — beginning of period	21,605	20,190
Cash and Cash Equivalents — end of period	17,331	17,370
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest	3	3
Cash paid for income taxes	$ 633	$ 932

Leases (Tables)

6 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Lease, Cost

The components of lease expense for the three and six months ended December 31, 2023 and 2022, were as follows:


	Three Months Ended December 31,				Six Months Ended December 31,
	2023		2022		2023		2022
Operating lease expense
Operating lease cost	$	462	$	742	$	992	$	1,413
Variable lease cost	45		58		94		85
Short-term lease costs	12		22		23		45
Total lease expense	$	519	$	822	$	1,109	$	1,543

Supplemental cash flow information related to operating leases was as follows (in thousands):


	Three Months Ended December 31,				Six Months Ended December 31,
	2023		2022		2023		2022
Operating cash outflows from operating leases	$	533	$	755	$	1,090	$	1,506
Right-of-use assets obtained in exchange for lease obligations	$	—	$	—	$	1,502	$	—

Schedule of Maturity of Lease Liabilities

Maturity of lease liabilities at December 31, 2023 are as follows (in thousands):


Year ended June 30,	Amount
2024 (remaining six months ending June 30, 2024)	$	1,071
2025	1,937
2026	1,978
2027	2,019
2028	2,061
Thereafter	6,394
Total	15,460
Less: imputed interest	(1,681)
Present value of lease liabilities	$	13,779

Stock-Based Compensation (Details) - USD ($)				3 Months Ended		6 Months Ended
Stock-Based Compensation (Details) - USD ($)	Nov. 09, 2023	Feb. 16, 2017	Sep. 27, 2010	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Feb. 02, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock issued under employee stock purchase plan (in shares)						39,000	36,000
Stock based compensation reflected in additional paid in capital				$ 800,000	$ 800,000	$ 1,700,000	$ 1,400,000
2010 Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)								475,000
Contractual term of stock options granted			10 years
2017 Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)				5,100,000		5,100,000
Number of additional shares authorized (in shares)	1,138,000	650,000
Right to purchase common stock, non-vested and outstanding, exercise price (in USD per share)				$ 4.44		$ 4.44
Share based payment award, vesting period						3 years
Options outstanding, net of awards expired (in shares)				100,000		100,000
2017 Long-Term Incentive Plan Excluding 2010 Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)								4,630,000
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, capital shares reserved for future issuance (in shares)				400,000		400,000
Shares available for issuance under the ESPP (in shares)				100,000		100,000
Purchase price of common stock (as a percent)						85.00%
Maximum employee subscription rate (as a percent)				15.00%		15.00%
Maximum number of shares per employee (in shares)						3,000
Amount in excess of fair market value of stock for option not to be granted				$ 25,000		$ 25,000
Offering period						6 months

Long-Term Debt (Details)			1 Months Ended	3 Months Ended		6 Months Ended
Long-Term Debt (Details)	Sep. 22, 2023 $ / shares	Apr. 01, 2021 USD ($)	Aug. 31, 2023 $ / shares	Dec. 31, 2023 $ / shares	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2023 $ / shares	Dec. 31, 2022 USD ($) $ / shares	Aug. 28, 2023 USD ($)	Mar. 30, 2016 USD ($)
Line of Credit Facility [Line Items]
Maximum dividend \| $					$ 500,000		$ 500,000	$ 750,000
Cash dividend paid (in dollars per share)				$ 0.035	$ 0.03	$ 0.47	$ 0.06
Special Dividend
Line of Credit Facility [Line Items]
Cash dividend paid (in dollars per share)	$ 0.40
Cash dividend, common stock declared (in dollars per share)			$ 0.40
Ordinary Dividend
Line of Credit Facility [Line Items]
Cash dividend paid (in dollars per share)	$ 0.035
Cash dividend, common stock declared (in dollars per share)			$ 0.035
Secured Debt \| March 2016 Term Loan
Line of Credit Facility [Line Items]
Maximum capacity on draw \| $									$ 10,000,000
Debt instrument, covenant, required minimum working capital \| $		$ 6,000,000
Secured Debt \| March 2016 Revolving Loan
Line of Credit Facility [Line Items]
Debt instrument, covenant, fixed charge coverage ratio		1.10
Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Debt instrument, covenant, total liabilities to tangible net worth ratio (not greater than)		2.00
Effective interest rate				8.60%		8.60%
Revolving Credit Facility \| March 2016 Revolving Loan
Line of Credit Facility [Line Items]
Maximum capacity on draw \| $		$ 5,000,000							$ 2,000,000
Basis spread on variable rate (as a percent)		3.00%
Floor interest rate (as a percent)		4.00%

Summary of Significant Accounting Policies - Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue, net	$ 51,624	$ 53,662	$ 102,988	$ 105,436
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue, net	39,065	39,705	77,580	76,074
Asia/Pacific & Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue, net	12,559	13,957	25,408	29,362
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue, net	37,219	37,972	74,115	72,630
Long-lived assets	20,904		20,904		$ 20,504
Japan
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue, net	7,314	$ 7,365	14,828	$ 15,533
Long-lived assets	$ 2,411		$ 2,411		$ 354

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 30
-Subparagraph (a)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Stockholders' Equity (Details) - USD ($)		1 Months Ended	3 Months Ended			6 Months Ended		9 Months Ended
Stockholders' Equity (Details) - USD ($)	Sep. 22, 2023	Aug. 31, 2023	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023	Aug. 30, 2023	Feb. 17, 2022	Aug. 27, 2020	Feb. 01, 2019	Nov. 27, 2017
Class of Stock [Line Items]
Shares issued for stock option exercises (in shares)			0		0	0
Shares canceled or surrendered as payment of tax withholding (in shares)						100,000	22,000
Repurchase common stock amount authorized (up to)										$ 60,000,000	$ 35,000,000	$ 15,000,000	$ 5,000,000
Stock repurchase program shares repurchased (in shares)			300,000	0		400,000		0
Repurchase of company stock			$ 1,900,000			$ 2,671,000	$ 0
Remaining authorized repurchase amount			$ 24,200,000			$ 24,200,000
Number of rights									1
Exercise price of rights (in dollars per share)									$ 20
Percent of common stock acquisition that makes rights exercisable									12.00%
Percent of common stock acquisition that makes rights exercisable, passive investors									20.00%
Discount percent									50.00%
Cash dividend paid (in dollars per share)			$ 0.035		$ 0.03	$ 0.47	$ 0.06
Dividends, common stock, cash			$ 500,000		$ 400,000	$ 6,000,000	$ 800,000
Ordinary Dividend
Class of Stock [Line Items]
Cash dividend paid (in dollars per share)	$ 0.035
Cash dividend, common stock declared (in dollars per share)		$ 0.035
Special Dividend
Class of Stock [Line Items]
Cash dividend paid (in dollars per share)	$ 0.40
Cash dividend, common stock declared (in dollars per share)		$ 0.40
Common Stock
Class of Stock [Line Items]
Shares issued under equity award plan (in shares)			500,000		200,000	800,000	200,000
Shares canceled or surrendered as payment of tax withholding (in shares)			34,000		5,000

Stockholders' Equity	6 Months Ended
Stockholders' Equity	Dec. 31, 2023
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity During the three months ended December 31, 2023 and 2022, the Company issued 0.5 million and 0.2 million shares of common stock, respectively, under equity award plans. During the three months ended December 31, 2023 and 2022, the Company issued zero shares of common stock upon the exercise of stock options. During the three months ended December 31, 2023 and 2022, 34,000 and 5,000 shares of restricted stock, respectively, were canceled or surrendered as payment of tax withholding upon vesting. During the six months ended December 31, 2023 and 2022, the Company issued 0.8 million and 0.2 million shares of common stock, respectively, under equity award plans. During the six months ended December 31, 2023 and 2022, the Company issued zero shares of common stock upon the exercise of stock options. During the six months ended December 31, 2023 and 2022, 0.1 million and 22,000 shares of restricted stock, respectively, were canceled or surrendered as payment of tax withholding upon vesting. On November 27, 2017, the Company announced a share repurchase program authorizing it to repurchase up to $5 million in shares of the Company's common stock. The repurchase program permits the Company to purchase shares through a variety of methods, including in the open market, through privately negotiated transactions or other means as determined by the Company's management. As part of the repurchase program, the Company has entered into a pre-arranged stock repurchase plan which operates in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. Accordingly, any transactions under such stock repurchase plan will be completed in accordance with the terms of the plan, including specified price, volume and timing conditions. The authorization may be suspended or discontinued at any time. On February 1, 2019, the Company's board of directors (the "Board of Directors") approved an amendment to increase the authorized share repurchase amount from $5.0 million to $15.0 million. On August 27, 2020, the Board of Directors approved an amendment to increase the authorized share repurchase amount from $15.0 million to $35.0 million and to extend the duration of the program through November 30, 2023 and, on February 17, 2022, the board of directors approved an amendment to increase the authorized share repurchase amount from $35.0 million to $60.0 million. On June 12, 2023, the Board of Directors approved an amendment to extend the duration of the repurchase program period to December 31, 2026. During the three and six months ended December 31, 2023, the Company purchased 0.3 million shares and 0.4 million shares of common stock at an aggregate price of $1.9 million and $2.7 million under this repurchase program, respectively. During the three and six months ended December 31, 2022, the Company purchased no shares of common stock under this repurchase program, respectively. At December 31, 2023, there is $24.2 million remaining under this repurchase program. On August 30, 2023, the Board of Directors approved a stockholder rights agreement (the “Rights Plan”) and declared a dividend of one right for each outstanding share of common stock to stockholders of record on September 11, 2023. Each right entitles holders to purchase one newly issued share of preferred stock at an exercise price of $20 per right, subject to adjustment. Initially, the rights are not exercisable and trade with shares of the Company’s common stock. In general, the rights become exercisable following a public announcement that a person acquires 12% (or, in the case of passive investors, 20%) or more of the outstanding shares of the Company’s common stock. If a person becomes an acquiring person, each holder of rights (except the acquiring person) will have the right to purchase, for the purchase price, a number of shares of the Company’s common stock at a 50% discount to the then-current trading price. Rather than allowing the rights to be exercised in those circumstances, the Board of Directors may exchange each right, other than the rights owned by the acquiring person, for a share of the Company’s common stock. The agreement provides for exceptions and additional terms for other certain situations and circumstances. The Rights Plan is intended to protect the interests of LifeVantage and its stockholders by reducing the likelihood that any entity, person or group gains control of the Company through open-market accumulation or other means without payment of an adequate control premium and expires August 24, 2024, unless it is earlier terminated or the rights are earlier redeemed or exchanged by the Board of Directors. There is currently no impact to the Company’s Consolidated Financial Statements. The Company’s Certificate of Incorporation authorizes the issuance of preferred stock. However, as of December 31, 2023, none have been issued nor have any rights or preferences been assigned to the preferred stock by the Company’s board of directors. Dividends In August 2023, the Board of Directors declared a quarterly cash dividend of $0.035 per share of common stock and a one-time cash dividend of $0.40 per share of common stock to be paid on September 22, 2023 to stockholders of record on September 8, 2023. In November 2023, the Board of Directors declared a quarterly cash dividend of $0.035 per share of common stock to be paid on December 15, 2023 to stockholders of record on December 1, 2023. Cash dividends for the three and six months ended December 31, 2023 totaled $0.5 million and $6.0 million, or $0.035 and $0.47 per share, respectively. Cash dividends for the three and six months ended December 31, 2022 totaled $0.4 million and $0.8 million, or $0.03 and $0.06 per share, respectively. The declaration of dividends is subject to the discretion of the Board of Directors and will depend upon various factors, including the Company's earnings, financial condition, restrictions imposed by any indebtedness that may be outstanding, cash requirements, future prospects and other factors deemed relevant by the board of directors.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of Components of Inventory

As of December 31, 2023 and June 30, 2023, inventory consisted of (in thousands):


	December 31, 2023				June 30, 2023
Finished goods	$	11,766	78.6	%	$	12,153	75.6	%
Raw materials	3,206		21.4	%	3,920		24.4	%
Total inventory	$	14,972	100.0	%	$	16,073	100.0	%

Schedule of Computation of Net (Loss) Income Per Share


	Three Months Ended December 31,				Six Months Ended December 31,
	2023		2022		2023		2022
Numerator:
Net loss	$	(656)	$	(1,058)	$	(27)	$	(448)
Denominator:
Basic weighted-average common shares outstanding	12,612		12,543		12,574		12,500
Effect of dilutive securities:
Stock awards and options	—		—		—		—

Diluted weighted-average common shares outstanding	12,612		12,543		12,574		12,500
Net loss per share, basic	$	(0.05)	$	(0.08)	$	0.00	$	(0.04)
Net loss per share, diluted	$	(0.05)	$	(0.08)	$	0.00	$	(0.04)

Schedule of Revenue Disaggregated by Geographic Regions

The following table presents the Company's revenue disaggregated by these two geographic regions (in thousands):


	Three Months Ended December 31,				Six Months Ended December 31,
	2023		2022		2023		2022
Americas	$	39,065	$	39,705	$	77,580	$	76,074
Asia/Pacific & Europe	12,559		13,957		25,408		29,362
Total revenue	$	51,624	$	53,662	$	102,988	$	105,436

Additional information as to the Company’s revenue from operations in the most significant geographical areas is set forth below (in thousands):


	Three Months Ended December 31,				Six Months Ended December 31,
	2023		2022		2023		2022
United States	$	37,219	$	37,972	$	74,115	$	72,630
Japan	$	7,314	$	7,365	$	14,828	$	15,533

Schedule of Long-lived Assets by Geographic Areas

The following table presents the Company's long-lived assets for its most significant geographic markets (in thousands):


	December 31, 2023		June 30, 2023
United States	$	20,904	$	20,504
Japan	$	2,411	$	354

Stock-Based Compensation	6 Months Ended
Stock-Based Compensation	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Long-Term Incentive Plans Equity-Settled Plans The Company adopted, and the stockholders approved, the 2017 Long-Term Incentive Plan (the “2017 Plan”), effective February 16, 2017, to provide incentives to eligible employees, directors and consultants. The initial share pool approved was 650,000 shares. On November 9, 2023, the stockholders approved amendments to the 2017 Plan to increase the number of shares of the Company's common stock that are available for issuance under the 2017 plan by 1,138,000 shares. As of December 31, 2023, a maximum of 5.1 million shares of the Company's common stock can be issued under the 2017 Plan in connection with the grant of awards which is calculated as the sum of (i) 4,630,000 shares and (ii) up to 475,000 shares previously reserved for issuance under the Company's 2010 Long Term Incentive Plan, including shares returned upon cancellation, termination or forfeiture of awards that were previously granted under that plan. Outstanding stock options awarded under the 2017 Plan have exercise prices of $4.44 per share, and vest over a three year vesting period. Awards expire in accordance with the terms of each award and, upon expiration of the award, the shares subject to the award are added back to the 2017 Plan. The contractual term of stock options granted is generally ten years. As of December 31, 2023, under the 2017 Plan, there were stock option awards outstanding, net of awards expired, for an aggregate of 0.1 million shares of the Company's common stock. Employee Stock Purchase Plan General. The Company's 2019 Employee Stock Purchase Plan ("ESPP") was adopted by the Board of Directors in September 2018 and the Company's stockholders approved it in November 2018. The ESPP is intended to qualify under Section 423 of the Internal Revenue Code. Share Reserve. The Company has reserved 0.4 million shares of its common stock for issuance under the ESPP. As of December 31, 2023, 0.1 million shares were available for issuance. The number of shares reserved under the ESPP will automatically be adjusted in the event of a stock split, stock dividend or a reverse stock split (including an adjustment to the per-purchase period share limit). Purchase Price. Employees may purchase each share of common stock under the ESPP at a price equal to 85% of the lower of the fair market values of the stock as of the beginning or the end of the six-month offering periods. An employee's contributions to the ESPP are limited to 15% of their regular hourly or salary compensation, and up to a maximum of 3,000 shares may be purchased during any offering period. A participant shall not be granted an option under the ESPP if such option would permit the participant's rights to purchase stock to accrue at a rate exceeding $25,000 grant date fair market value of stock for each calendar year in which such option is outstanding at any time. Offering Periods. Unless otherwise determined by the compensation committee, the ESPP will be operated through a series of successive six-month offering periods, which will begin each year on March 1 and September 1. During the six months ended December 31, 2023 and 2022, approximately 39,000 and 36,000 shares of common stock were issued under the ESPP, respectively. Stock-Based Compensation For the three months ended December 31, 2023 and 2022, compensation of $0.8 million and $0.8 million, respectively, was reflected as an increase to additional paid-in capital, all of which was employee related. For the six months ended December 31, 2023 and 2022, compensation of $1.7 million and $1.4 million, respectively, was reflected as an increase to additional paid-in capital, all of which was employee related.