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Leases (Tables)
3 Months Ended
Sep. 30, 2024
Leases [Abstract]  
Components of Lease Expense

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

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

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