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Leases | 3 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Leases | 9. Leases The Company has operating leases primarily for its office facilities. The leases expire at various dates through fiscal year 2030, some of which include options to renew, with renewal terms of up to 5 years. The components of lease expense were as follows (in thousands):
|  | Three Months Ended |
|  | September 30, |
|  | 2024 |  |  | 2023 |
Operating lease expense |  | $ | 1,011 |  |  | $ | 1,450 |
Short-term lease expense |  |  | 301 |  |  |  | 176 |
Variable lease expense (1) |  |  | 64 |  |  |  | 210 |
Total lease expense |  | $ | 1,376 |  |  | $ | 1,836 |
(1) Variable lease expense is primarily composed of common area maintenance charges. Supplemental information related to operating leases was as follows (in thousands, except lease term and discount rate):
|  | Three Months Ended |
|  | September 30, |
|  | 2024 |  |  | 2023 |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |
Operating cash flows used for operating leases |  | $ | 880 |  |  | $ | 1,464 |
Lease liabilities arising from obtaining right-of-use assets |  |  |  |  |  |
Operating leases |  | $ | — |  |  | $ | 3,519 |
Weighted average remaining lease term - operating leases |  | 4.1 years |  |  | 3.7 years |
Weighted average discount rate - operating leases |  |  | 6.4 | % |  |  | 6.4 | %
Maturities of operating lease liabilities as of September 30, 2024 were as follows (in thousands):
Fiscal Year Ending June 30, |  |  |  | Amount |
2025 (remaining nine months) |  |  |  | $ | 2,475 |
2026 |  |  |  |  | 2,689 |
2027 |  |  |  |  | 2,701 |
2028 |  |  |  |  | 2,728 |
2029 |  |  |  |  | 1,457 |
Thereafter |  |  |  |  | 209 |
Total minimum lease payments |  |  |  | $ | 12,259 |
Less imputed interest |  |  |  |  | (2,422 | )
Present value of net minimum lease payments |  |  |  | $ | 9,837 |
Operating lease liabilities: |  |  |  |  |
Current (included in Accrued Liabilities) |  |  |  | $ | 2,811 |
Noncurrent |  |  |  |  | 7,026 |
Total |  |  |  | $ | 9,837 |
As of September 30, 2024, the Company had additional undiscounted future minimum payments of $1.6 million relating to operating lease for office spaces that had been signed but had not yet commenced. This operating lease will commence during the third quarter of fiscal year 2025 and will have a lease term of approximately 6 years.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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