Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.22.2.2
Income Taxes (Tables)
12 Months Ended
Jun. 30, 2022
Income Tax Disclosure [Abstract]  
Schedule of income tax expense
    June 30,
2022
    June 30,
2021
 
Current:            
Federal   $ 134     $
 
State and Local     15      
 
Total Current Tax Provision (Benefit)     149      
 
                 
Deferred:                
Federal     (2,000 )    
 
State and Local     18      
 
Total Deferred Tax Provision (Benefit)     (1,982 )    
 
                 
Total Tax Provision (Benefit)   $ (1,833 )   $
 

 

Schedule of statutory federal income tax rate to income before the provision for/(benefit from) income taxes
   

For the
Year Ended

June 30,
2022

   

For the
Year Ended

June 30,
2021

 
Income taxes at Federal statutory rate     (21.00 )%     (21.00 )%
State income taxes, net of Federal income tax benefit     (0.29 )%     (0.15 )%
Tax Credits     (1.49 )%     (2.15 )%
Stock-based compensation     0.28 %     (1.30 )%
Other     0.14 %     (0.30 )%
Change in Valuation Allowance     19.32 %     24.92 %
Effect of changes in income tax rate applied to net deferred taxes     0.04 %     (0.02 )%
Income Tax Provision     (3.00 )%     0.00 %

 

Schedule of deferred tax assets and liabilities
    June 30,
2022
    June 30,
2021
 
Deferred Tax Assets            
Net Operating Loss Carryforwards   $ 47,031     $ 32,688  
Stock-based compensation     3,680       2,804  
Credits     2,725       1,817  
Other     1,022       1,010  
      54,458       38,319  
Deferred Tax Liabilities                
Intangibles     (1,808 )      
Accumulated depreciation/basis differences     (7,158 )     (4,620 )
      (8,966 )     (4,620 )
                 
Valuation Allowance     (45,492 )     (33,699 )
Net Deferred Tax Assets   $
    $
 

 

Schedule of gross unrecognized tax benefits
    June 30,
2022
    June 30,
2021
 
Beginning Balance   $ 326     $ 200  
Additions based on positions related to the current year     80       60  
Additions for tax positions in prior years     21       66  
Reductions for tax positions in prior years    
     
 
Expiration of statute of limitations    
     
 
Ending Balance   $ 427     $ 326