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Leases (Tables)

6 Months Ended

Dec. 31, 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)		$	1,908
2026			3,452
2027			2,114
2028			1,086
2029			374
Thereafter			778
Total minimum lease payments			9,712
Less: amounts representing interest			642
Present value of minimum lease payments			9,070
Less: current portion			3,426
Long-term portion		$	5,644

Schedule of Operating Leases

The table below presents additional information related to the Company’s operating leases (in thousands):

		Six months ended December 31,								Three months ended December 31,
		2024				2023				2024				2023
Operating lease cost
Operating lease cost (1)		$	1,897			$	2,036			$	941			$	1,035
Variable lease cost (2)			2,488				2,218				705				1,143
Total lease cost		$	4,385			$	4,254			$	1,646			$	2,178

(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 condensed consolidated statements of operations.

The table below presents lease-related terms and discount rates as of December 31, 2024:

		December 31, 2024
Weighted average remaining lease terms
Operating leases		3.3 years
Weighted average discount rate
Operating leases		3.65 %

The table below presents supplemental cash flow information related to the Company’s long-term operating lease liabilities for the six months ended December 31, 2024 and 2023 (in thousands):

		Six months ended December 31,
		2024				2023
Cash paid for amounts included in the measurement of lease liabilities:		$	1,897			$	2,036
Operating lease right-of-use assets obtained in exchange for operating lease liabilities:		$	1,781			$	3,095

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)		$	2,723			$	1,769			$	954
2026			4,538				2,942				1,596
2027			3,603				2,191				1,412
2028			2,571				1,413				1,158
2029			1,634				789				845
Thereafter			1,811				869				942
										$	6,907	*

* Excludes residual values of $2.8 million.

X

- 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

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X

- References

No definition available.

+ Details

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X

- 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

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X

- 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

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