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v3.25.1

Leases | 9 Months Ended
--- | ---
Mar. 31, 2025
Leases [Abstract] |
Leases | Leases The Company evaluates contracts for lease accounting at contract inception and assesses lease classification at the lease commencement date. The finance lease is related to the $5.1 million of a machinery lease financing with a vendor. The Company does not record leases on the Condensed Consolidated Balance Sheets with a term of one year or less. The components of the Company’s operating and finance lease expenses are as follows for the periods presented (in thousands):
| Three Months Ended March 31, |  | Nine Months Ended March 31,
| 2025 |  | 2024 |  | 2025 |  | 2024
Operating leases: |  |  |  |  |  |  |
Fixed rent expense | $ | 1,611 |  |  | $ | 1,356 |  |  | $ | 4,756 |  |  | $ | 4,399 |
Variable rent expense | 289 |  |  | 307 |  |  | 828 |  |  | 819 |
Finance lease: |  |  |  |  |  |  |
Amortization of equipment | 128 |  |  | 128 |  |  | 385 |  |  | 385 |
Interest | 50 |  |  | 67 |  |  | 164 |  |  | 214 |
Short-term leases |  |  |  |  |  |  |
Short-term lease expenses | 48 |  |  | 41 |  |  | 122 |  |  | 128 |
Total lease expenses | $ | 2,126 |  |  | $ | 1,899 |  |  | $ | 6,255 |  |  | $ | 5,945 |
Supplemental balance sheet information related to the Company’s operating and finance leases is as follows (in thousands, except lease term and discount rate):
| March 31, 2025 |  | June 30, 2024
Operating Leases: |  |  |
Right-of-use assets associated with operating leases | $ | 22,050 |  |  | $ | 25,050 |
Finance Lease: |  |  |
Property, plant and equipment, gross | $ | 5,133 |  |  | $ | 5,133 |
Accumulated depreciation | (1,556) |  |  | (1,171) |
Property, plant and equipment, net | $ | 3,577 |  |  | $ | 3,962 |
Weighted average remaining lease term (in years) |  |  |
Operating leases | 5.19 |  | 5.54
Finance lease | 2.50 |  | 3.25
Weighted average discount rate |  |  |
Operating leases | 4.87 | % |  | 4.91 | %
Finance lease | 7.51 | % |  | 7.51 | %
Supplemental cash flow information related to the Company’s operating and finance leases is as follows (in thousands):
| Nine Months Ended March 31,
| 2025 |  | 2024
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from operating leases | $ | 4,830 |  |  | $ | 4,804 |
Operating cash flows from finance lease | $ | 164 |  |  | $ | 214 |
Financing cash flows from finance lease | $ | 694 |  |  | $ | 644 |
Non-cash investing and financing information: |  |  |
Operating lease right-of-use assets obtained in exchange for lease obligations | $ | 945 |  |  | $ | 3,954 |
Future minimum lease payments are as follows as of March 31, 2025 (in thousands):
Year ending June 30, | Operating Leases |  | Finance Leases
The remainder of fiscal 2025 | $ | 1,589 |  |  | $ | 286 |
2026 | 5,730 |  |  | 1,144 |
2027 | 4,829 |  |  | 1,144 |
2028 | 4,276 |  |  | 191 |
2029 | 3,988 |  |  | — |
Thereafter | 5,187 |  |  | — |
Total minimum lease payments | 25,599 |  |  | 2,765 |
Less amount representing interest | (2,991) |  |  | (243) |
Total lease liabilities | $ | 22,608 |  |  | $ | 2,522 |
Leases | Leases The Company evaluates contracts for lease accounting at contract inception and assesses lease classification at the lease commencement date. The finance lease is related to the $5.1 million of a machinery lease financing with a vendor. The Company does not record leases on the Condensed Consolidated Balance Sheets with a term of one year or less. The components of the Company’s operating and finance lease expenses are as follows for the periods presented (in thousands):
| Three Months Ended March 31, |  | Nine Months Ended March 31,
| 2025 |  | 2024 |  | 2025 |  | 2024
Operating leases: |  |  |  |  |  |  |
Fixed rent expense | $ | 1,611 |  |  | $ | 1,356 |  |  | $ | 4,756 |  |  | $ | 4,399 |
Variable rent expense | 289 |  |  | 307 |  |  | 828 |  |  | 819 |
Finance lease: |  |  |  |  |  |  |
Amortization of equipment | 128 |  |  | 128 |  |  | 385 |  |  | 385 |
Interest | 50 |  |  | 67 |  |  | 164 |  |  | 214 |
Short-term leases |  |  |  |  |  |  |
Short-term lease expenses | 48 |  |  | 41 |  |  | 122 |  |  | 128 |
Total lease expenses | $ | 2,126 |  |  | $ | 1,899 |  |  | $ | 6,255 |  |  | $ | 5,945 |
Supplemental balance sheet information related to the Company’s operating and finance leases is as follows (in thousands, except lease term and discount rate):
| March 31, 2025 |  | June 30, 2024
Operating Leases: |  |  |
Right-of-use assets associated with operating leases | $ | 22,050 |  |  | $ | 25,050 |
Finance Lease: |  |  |
Property, plant and equipment, gross | $ | 5,133 |  |  | $ | 5,133 |
Accumulated depreciation | (1,556) |  |  | (1,171) |
Property, plant and equipment, net | $ | 3,577 |  |  | $ | 3,962 |
Weighted average remaining lease term (in years) |  |  |
Operating leases | 5.19 |  | 5.54
Finance lease | 2.50 |  | 3.25
Weighted average discount rate |  |  |
Operating leases | 4.87 | % |  | 4.91 | %
Finance lease | 7.51 | % |  | 7.51 | %
Supplemental cash flow information related to the Company’s operating and finance leases is as follows (in thousands):
| Nine Months Ended March 31,
| 2025 |  | 2024
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from operating leases | $ | 4,830 |  |  | $ | 4,804 |
Operating cash flows from finance lease | $ | 164 |  |  | $ | 214 |
Financing cash flows from finance lease | $ | 694 |  |  | $ | 644 |
Non-cash investing and financing information: |  |  |
Operating lease right-of-use assets obtained in exchange for lease obligations | $ | 945 |  |  | $ | 3,954 |
Future minimum lease payments are as follows as of March 31, 2025 (in thousands):
Year ending June 30, | Operating Leases |  | Finance Leases
The remainder of fiscal 2025 | $ | 1,589 |  |  | $ | 286 |
2026 | 5,730 |  |  | 1,144 |
2027 | 4,829 |  |  | 1,144 |
2028 | 4,276 |  |  | 191 |
2029 | 3,988 |  |  | — |
Thereafter | 5,187 |  |  | — |
Total minimum lease payments | 25,599 |  |  | 2,765 |
Less amount representing interest | (2,991) |  |  | (243) |
Total lease liabilities | $ | 22,608 |  |  | $ | 2,522 |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance 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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- 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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