Annual report pursuant to Section 13 and 15(d)

Fixed Assets

v3.22.2.2
Fixed Assets
12 Months Ended
Jun. 30, 2022
Fixed Assets [Abstract]  
Fixed Assets

11.    Fixed Assets

As discussed above, the Company adopted ASC 842. As such, assets formerly classified as “under capital lease” are now classified as finance lease ROU assets. See Note 8 – Finance Lease ROU’s above.

The following table summarizes by category the gross carrying value and accumulated depreciation of fixed assets (in thousands):

    

June 30, 

    

June 30, 

2022

2021

Facility and improvements

$

21,589

$

1,517

Machinery and equipment

 

12,161

 

4,255

Office equipment and software

 

2,752

 

714

Construction in progress

3,659

3,367

 

40,161

 

9,853

Accumulated depreciation

 

(3,500)

 

(1,225)

Net fixed assets

$

36,661

$

8,628

Depreciation expense was approximately $2,275,000 and $472,000 for the years ended June 30, 2022 and 2021, respectively.