| Leases |
LEASES The Company has operating lease obligations primarily for its delivery centers and finance lease obligations primarily for vehicles and other equipment. Leases typically have initial terms of two to 15 years, and may include renewal options if the Company is reasonably certain to exercise such options.
The components of lease cost are as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended December 31, | Six Months Ended December 31, | | ($000s) | 2025 | | 2024 | | 2025 | | 2024 | | Operating lease cost: | | | | | | | | | Operating lease cost | $ | 5,024 | | | $ | 4,572 | | | $ | 10,035 | | | $ | 9,442 | | | Variable lease cost | 812 | | | 746 | | | 1,632 | | | 1,479 | | | Short-term lease cost | 97 | | | 210 | | | 163 | | | 359 | | | Total operating lease cost | $ | 5,933 | | | $ | 5,528 | | | $ | 11,830 | | | $ | 11,280 | | | | | | | | | | | Finance lease cost: | | | | | | | | | Amortization of right of use assets | $ | 276 | | | $ | 232 | | | $ | 558 | | | $ | 453 | | | Interest on lease liabilities | 66 | | | 79 | | | 142 | | | 160 | | | Total finance lease cost | $ | 342 | | | $ | 311 | | | $ | 700 | | | $ | 613 | |
The following table presents supplemental balance sheet information related to leases:
| | | | | | | | | | | | | December 31, | | June 30, | | ($000s) | 2025 | | 2025 | | Operating lease assets | $ | 57,157 | | | $ | 62,276 | | | | | | | Operating lease liabilities, current | 14,411 | | | 14,332 | | | Operating lease liabilities, non-current | 48,499 | | | 53,804 | | | Total operating lease liabilities | $ | 62,910 | | | $ | 68,136 | | | | | | | Finance lease assets, net | $ | 1,576 | | | $ | 1,776 | | | | | | | Finance lease liabilities, current | $ | 837 | | | $ | 823 | | | Finance lease liabilities, non-current | 594 | | | 796 | | | Total finance lease liabilities | $ | 1,431 | | | $ | 1,619 | |
The following table presents supplemental cash flow information related to leases:
| | | | | | | | | | | | | Six Months Ended December 31, | | ($000s) | 2025 | | 2024 | | Cash paid for amounts included in the measurement of lease liabilities | $ | 7,181 | | | $ | 6,446 | | | Operating cash flows paid for interest portion of finance leases | $ | 142 | | | $ | 160 | | | Financing cash flows paid for principal portion of finance leases | $ | 549 | | | $ | 353 | | | | | |
The following table presents supplemental noncash information related to leases: | | | | | | | | | | | | | Six Months Ended December 31, | | ($000s) | 2025 | | 2024 | | Right-of-use assets obtained in exchange for lease obligations | | | | | Operating leases | $ | 2,879 | | | $ | 3,351 | | | Finance leases | $ | 277 | | | $ | 237 | | | Reduction due to reassessment of lease renewal options | | | | | Right-of-use assets | $ | — | | | $ | (2,426) | | | Operating lease liabilities | $ | — | | | $ | (2,426) | |
| | | | | | | | | | | | | December 31, | | June 30, | | 2025 | | 2025 | | Weighted average remaining lease term (in years) | | | | | Operating leases | 4.2 | | 4.5 | | Finance leases | 1.8 | | 2.0 | | | | | | Weighted average discount rate | | | | | Operating leases | 10.7% | | 10.4% | | Finance leases | 18.0% | | 19.3% |
The following table presents the maturities of our lease liabilities as of December 31, 2025:
| | | | | | | | | | | | | ($000s) | Operating
Leases | | Finance
Leases | | 2026-remainder of year | $ | 9,908 | | | $ | 528 | | | 2027 | 19,590 | | | 779 | | | 2028 | 18,652 | | | 324 | | | 2029 | 16,489 | | | 15 | | | 2030 | 7,703 | | | — | | | Thereafter | 7,804 | | | — | | | Total undiscounted lease payments | 80,146 | | | 1,646 | | | Less: liability accretion | (17,236) | | | (215) | | | Total lease liabilities | $ | 62,910 | | | $ | 1,431 | |
|
| Leases |
LEASES The Company has operating lease obligations primarily for its delivery centers and finance lease obligations primarily for vehicles and other equipment. Leases typically have initial terms of two to 15 years, and may include renewal options if the Company is reasonably certain to exercise such options.
The components of lease cost are as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended December 31, | Six Months Ended December 31, | | ($000s) | 2025 | | 2024 | | 2025 | | 2024 | | Operating lease cost: | | | | | | | | | Operating lease cost | $ | 5,024 | | | $ | 4,572 | | | $ | 10,035 | | | $ | 9,442 | | | Variable lease cost | 812 | | | 746 | | | 1,632 | | | 1,479 | | | Short-term lease cost | 97 | | | 210 | | | 163 | | | 359 | | | Total operating lease cost | $ | 5,933 | | | $ | 5,528 | | | $ | 11,830 | | | $ | 11,280 | | | | | | | | | | | Finance lease cost: | | | | | | | | | Amortization of right of use assets | $ | 276 | | | $ | 232 | | | $ | 558 | | | $ | 453 | | | Interest on lease liabilities | 66 | | | 79 | | | 142 | | | 160 | | | Total finance lease cost | $ | 342 | | | $ | 311 | | | $ | 700 | | | $ | 613 | |
The following table presents supplemental balance sheet information related to leases:
| | | | | | | | | | | | | December 31, | | June 30, | | ($000s) | 2025 | | 2025 | | Operating lease assets | $ | 57,157 | | | $ | 62,276 | | | | | | | Operating lease liabilities, current | 14,411 | | | 14,332 | | | Operating lease liabilities, non-current | 48,499 | | | 53,804 | | | Total operating lease liabilities | $ | 62,910 | | | $ | 68,136 | | | | | | | Finance lease assets, net | $ | 1,576 | | | $ | 1,776 | | | | | | | Finance lease liabilities, current | $ | 837 | | | $ | 823 | | | Finance lease liabilities, non-current | 594 | | | 796 | | | Total finance lease liabilities | $ | 1,431 | | | $ | 1,619 | |
The following table presents supplemental cash flow information related to leases:
| | | | | | | | | | | | | Six Months Ended December 31, | | ($000s) | 2025 | | 2024 | | Cash paid for amounts included in the measurement of lease liabilities | $ | 7,181 | | | $ | 6,446 | | | Operating cash flows paid for interest portion of finance leases | $ | 142 | | | $ | 160 | | | Financing cash flows paid for principal portion of finance leases | $ | 549 | | | $ | 353 | | | | | |
The following table presents supplemental noncash information related to leases: | | | | | | | | | | | | | Six Months Ended December 31, | | ($000s) | 2025 | | 2024 | | Right-of-use assets obtained in exchange for lease obligations | | | | | Operating leases | $ | 2,879 | | | $ | 3,351 | | | Finance leases | $ | 277 | | | $ | 237 | | | Reduction due to reassessment of lease renewal options | | | | | Right-of-use assets | $ | — | | | $ | (2,426) | | | Operating lease liabilities | $ | — | | | $ | (2,426) | |
| | | | | | | | | | | | | December 31, | | June 30, | | 2025 | | 2025 | | Weighted average remaining lease term (in years) | | | | | Operating leases | 4.2 | | 4.5 | | Finance leases | 1.8 | | 2.0 | | | | | | Weighted average discount rate | | | | | Operating leases | 10.7% | | 10.4% | | Finance leases | 18.0% | | 19.3% |
The following table presents the maturities of our lease liabilities as of December 31, 2025:
| | | | | | | | | | | | | ($000s) | Operating
Leases | | Finance
Leases | | 2026-remainder of year | $ | 9,908 | | | $ | 528 | | | 2027 | 19,590 | | | 779 | | | 2028 | 18,652 | | | 324 | | | 2029 | 16,489 | | | 15 | | | 2030 | 7,703 | | | — | | | Thereafter | 7,804 | | | — | | | Total undiscounted lease payments | 80,146 | | | 1,646 | | | Less: liability accretion | (17,236) | | | (215) | | | Total lease liabilities | $ | 62,910 | | | $ | 1,431 | |
|