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Leases (Tables)
3 Months Ended
Sep. 30, 2024
Leases [Abstract]  
Schedule of Maturity of Operating Lease Liabilities 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,  Total Operating
Lease Obligations
(in thousands)
2025 (remainder of)  $2,772 
2026   3,301 
2027   1,963 
2028   1,036 
2029   374 
Thereafter   778 
Total minimum lease payments   10,224 
Less: amounts representing interest   699 
Present value of minimum lease payments   9,525 
      
Less: current portion   3,330 
Long-term portion  $6,195 

 

Schedule of Operating Leases The table below presents additional information related to the Company’s operating leases (in thousands):
   Three months ended
September 30,
   2024  2023
Operating lease cost          
Operating lease cost (1)  $956   $1,001 
Variable lease cost (2)   1,783    1,076 
Total lease cost  $2,739   $2,077 
(1)Expenses are classified as selling, general and administrative expenses in the Company’s condensed consolidated statements of operations.
(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.
    September 30, 2024
Weighted average remaining lease terms    
Operating leases   3.26 years
Weighted average discount rate    
Operating leases   3.54 %
Schedule of Supplemental Cash Flow Information Related to the 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 three months ended September 30, 2024 and 2023 (in thousands):
   Three months ended September 30,
   2024  2023
Cash paid for amounts included in the measurement of lease liabilities:  $956   $1,001 
Operating lease right-of-use assets obtained in exchange for operating lease liabilities:  $1,364   $20 
Schedule of Future 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
Receivable
  Amortization
of Unearned
Income
  Net Investment
in Sales Type
Leases
2025 (remainder of)  $3,950   $2,573   $1,377 
2026   4,323    2,777    1,546 
2027   3,455    2,037    1,418 
2028   2,395    1,270    1,125 
2029   1,431    678    753 
Thereafter   1,554    731    823 
             $7,042*

* Excludes residual values of $2.9 million.