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Leases (Tables) | 12 Months Ended
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Jun. 30, 2024
Leases [Abstract] |
Schedule of Maturity of Operating Lease Liabilities | The following table sets forth the Company’s future minimum lease payments under operating lease liabilities recorded on the Company’s condensed consolidated balance sheet as of June 30, 2024. The table below does not include commitments that are contingent on events or other factors that are currently uncertain or unknown.
Fiscal years ending June 30, |  | Maturity of Operating Lease Liabilities (in thousands) |
2025 |  | $ | 3,395 |
2026 |  |  | 2,761 |
2027 |  |  | 1,470 |
2028 |  |  | 812 |
2029 |  |  | 519 |
Thereafter |  |  | 633 |
Total lease payments |  | $ | 9,590 |
Less: amounts representing interest |  |  | 631 |
Present value of lease liabilities |  | $ | 8,959 |
Less: current portion |  |  | 3,110 |
Long-term portion |  | $ | 5,849 |
Schedule of Operating Leases | The table below presents additional information related to the Company’s operating leases (in thousands):
Operating lease cost |  | Fiscal year ended June 30, 2024 |  |  | Fiscal year ended June 30, 2023 |
Operating lease cost (1) |  | $ | 3,995 |  |  | $ | 3,526 |
Variable lease cost (2) |  |  | 4,810 |  |  |  | 3,391 |
Total lease cost |  | $ | 8,805 |  |  | $ | 6,917 |
|  | (1) | Expenses are classified within selling, general and administrative expenses in the Company’s consolidated statements of operations for the fiscal years ended June 30, 2024 and 2023.
|  | (2) | Certain of the Company’s subsidiaries lease space at locations where (i) they install laundry equipment and customers pay for the use of equipment and (ii) the leased space is paid for as part of a revenue sharing arrangement. These expenses are classified within cost of sales in the Company’s consolidated statements of operations for the fiscal years ended June 30, 2024 and 2023.
|  | The table below presents lease-related terms and discount rates as of June 30, 2024 and 2023:
|  | June 30, 2024 |  |  | June 30, 2023 |
Weighted average remaining lease terms |  |  |  |  |  |
Operating leases |  |  | 3.6 years |  |  |  | 4.0 years |
Weighted average discount rate |  |  |  |  |  |  |  |
Operating leases |  |  | 3.48% |  |  |  | 3.45% |
Schedule of Supplemental Cash Flow Information Related to Company's Long-Term Operating Lease Liabilities | The table below presents supplemental cash flow information related to the Company’s long-term operating lease liabilities for the fiscal years ended June 30, 2024 and 2023 (in thousands):
|  | Fiscal year ended June 30, 2024 |  |  | Fiscal year ended June 30, 2023 |
Cash paid for amounts included in the measurement of lease liabilities: |  | $ | 3,995 |  |  | $ | 3,526 |
Operating lease right-of-use assets obtained in exchange for operating lease liabilities: |  | $ | 2,955 |  |  | $ | 4,403 |
Schedule of Minimum Lease Payments Receivable | The future minimum lease payments receivable for sales type leases are as follows (in thousands):
Fiscal years ending June 30, |  | Total Minimum Lease Payments to be Received |  |  | Amortization of Unearned Income |  |  | Net Investment in Sales Type Leases |
2025 |  | $ | 4,943 |  |  | $ | 3,288 |  |  | $ | 1,655 |
2026 |  |  | 4,010 |  |  |  | 2,564 |  |  |  | 1,446 |
2027 |  |  | 3,164 |  |  |  | 1,842 |  |  |  | 1,322 |
2028 |  |  | 2,146 |  |  |  | 1,114 |  |  |  | 1,032 |
2029 |  |  | 1,182 |  |  |  | 561 |  |  |  | 621 |
Thereafter |  |  | 1,338 |  |  |  | 597 |  |  |  | 741 |
|  |  |  |  |  |  |  |  |  | $ | 6,817 | *
|  | * Excludes non-guaranteed residual values of $2.9 million.

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of maturity of undiscounted cash flows to be received on annual basis for sales-type and direct financing leases receivable. Includes, but is not limited to, reconciliation to lease receivable recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479773/842-30-50-10 + Details
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