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Leases
 9 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Leases
16.
 
Leases
The
 
Company
 
has
 
entered
 
into leasing
 
arrangements
 
classified
 
as operating
 
leases under
 
accounting
 
guidance.
 
These leasing
arrangements relate primarily
 
to the lease of
 
its corporate head office,
 
administration offices and
 
branch locations through
 
which the
Company operates
 
its consumer
 
business in
 
South Africa.
 
The Company’s
 
operating leases
 
have remaining
 
lease terms
 
of between
one and
five years
. The Company also operates parts
 
of its consumer business from
 
locations which it leases for a period
 
of less than
one year
. The Company’s
 
operating lease expense
 
during the three
 
months ended March
 
31, 2024 and
 
2023 was $
0.9
 
million and $
0.7
 
million, respectively.
 
The Company’s operating
 
lease expense during the nine
 
months ended March 31, 2024 and 2023
 
was $
2.2
million and $
2.3
 
million, respectively.
The
 
Company
 
has
 
also
 
entered
 
into
 
short-term
 
leasing
 
arrangements,
 
primarily
 
for
 
the
 
lease
 
of
 
branch
 
locations
 
and
 
other
locations,
 
to operate its consumer
 
business in South Africa.
 
The Company’s
 
short-term lease expense during
 
the three months ended
March 31, 2024 and 2023, was $
0.9
 
million and $
1.0
 
million, respectively. The Company’s
 
short-term lease expense during the nine
months ended March 31, 2024 and 2023, was $
2.8
 
million and $
3.0
 
million, respectively.
The following table presents supplemental balance
 
sheet disclosure related to the
 
Company’s right-of-use assets and its operating
lease liabilities as of March 31, 2024 and June 30, 2023:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31,
June 30,
2024
2023
Right of use assets obtained in exchange for lease obligations:
Weighted average
 
remaining lease term (years)
3.4
1.8
Weighted average
 
discount rate (percent)
10.1
9.7
16.
 
Leases (continued)
The maturities of the Company’s
 
operating lease liabilities as of March 31, 2024, are presented below:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maturities of operating lease liabilities
Year
 
ended June 30,
2024 (excluding nine months to March 31, 2024)
$
639
2025
2,070
2026
1,543
2027
1,318
2028
1,173
Thereafter
120
Total undiscounted
 
operating lease liabilities
6,863
Less imputed interest
1,188
Total operating lease liabilities,
 
included in
5,675
Operating lease liability - current
1,763
Operating lease liability - long-term
$
3,912