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Leases
3 Months Ended
Sep. 30, 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 September 30, 2024 and 2023 was $
1.0
 
million and
$
0.7
 
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
September 30, 2024 and 2023, was $
1.0
 
million and $
0.9
 
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 September 30, 2024 and June 30, 2024:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
September 30,
June 30,
2024
2024
Right of use assets obtained in exchange for lease obligations:
Weighted average
 
remaining lease term (years)
2.7
3.1
Weighted average
 
discount rate (percent)
10.7
10.5
16.
 
Leases (continued)
The maturities of the Company’s
 
operating lease liabilities as of September 30, 2024, are presented below:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maturities of operating lease liabilities
Year
 
ended June 30,
2025 (excluding three months to September 30, 2024)
$
2,581
2026
2,840
2027
2,011
2028
1,298
2029
165
Thereafter
-
Total undiscounted
 
operating lease liabilities
8,895
Less imputed interest
1,327
Total operating lease liabilities,
 
included in
7,568
Operating lease liability - current
2,600
Operating lease liability - long-term
$
4,968