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Leases | 9 Months Ended
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Mar. 31, 2025
Leases [Abstract] |
Leases | NOTE 5 – LEASES The Company has finance leases for equipment, and operating leases for office space, warehouse space, and other equipment with lease terms expiring at various dates through October 2034. During the three and nine months ended March 31, 2025, the Company recorded lease termination costs of $210 and $1,376 for exiting an existing warehouse facility prior to the conclusion of the lease term and relocating to a larger facility in British Columbia to expand its existing operations. These amounts are included in the components of lease expense below. The components of lease expense are as follows:
| Three Months Ended March 31, |  |  | Nine Months Ended March 31, |
(In thousands) | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Operating lease cost | $ | 3,591 |  |  | $ | 3,529 |  |  | $ | 12,254 |  |  | $ | 10,905 |
Finance leases: |  |  |  |  |  |  |  |  |  |  |
Amortization of leased assets |  | 186 |  |  |  | 171 |  |  |  | 526 |  |  |  | 555 |
Interest on lease liabilities |  | 24 |  |  |  | 20 |  |  |  | 67 |  |  |  | 53 |
Total finance lease cost | $ | 210 |  |  | $ | 191 |  |  | $ | 593 |  |  | $ | 608 |
Supplemental cash flow information related to leases are as follows:
|  |  |  |  | Nine Months Ended March 31, |
(In thousands) |  |  |  |  | 2025 |  |  | 2024 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows paid for operating leases |  | $ | 8,954 |  |  | $ | 10,595 |
Operating cash flows paid for interest portion of finance leases |  |  | 67 |  |  |  | 53 |
Financing cash flows paid for principal portion of finance leases |  |  | 555 |  |  |  | 452 |
Right-of-use assets obtained in exchange for lease liabilities: |  |  |  |  |  |
Operating leases |  | $ | 16,969 |  |  | $ | 5,278 |
Finance leases |  |  | 848 |  |  |  | 211 |
Supplemental balance sheet information related to leases are as follows:
|  |  |  |  | March 31, |  |  | June 30, |
(In thousands) |  | 2025 |  |  | 2024 |
Operating leases: |  |  |  |  |  |
Operating lease right-of-use assets |  | $ | 55,242 |  |  | $ | 49,850 |
Current portion of operating lease liabilities |  |  | 12,484 |  |  |  | 11,629 |
Operating lease liabilities, net of current portion |  |  | 49,855 |  |  |  | 45,026 |
Total operating lease liabilities |  | $ | 62,339 |  |  | $ | 56,655 |
Finance leases: |  |  |  |  |  |
Property, technology, and equipment, net |  | $ | 1,536 |  |  | $ | 1,236 |
Current portion of finance lease liabilities |  |  | 566 |  |  |  | 643 |
Finance lease liabilities, net of current portion |  |  | 1,036 |  |  |  | 677 |
Total finance lease liabilities |  | $ | 1,602 |  |  | $ | 1,320 |
Weighted average remaining lease term: |  |  |  |  |  |
Operating leases |  | 6.2 years |  |  | 5.7 years |
Finance leases |  | 4.1 years |  |  | 3.3 years |
Weighted average discount rate: |  |  |  |  |  |
Operating leases |  |  | 5.79 | % |  |  | 5.52 | %
Finance leases |  |  | 5.83 | % |  |  | 5.62 | %
As of March 31, 2025, maturities of lease liabilities for each of the next five fiscal years ending June 30 and thereafter are as follows:
(In thousands) |  |  |  |  | Operating |  |  | Finance |
2025 (remaining) |  |  |  |  | $ | 5,408 |  |  | $ | 284 |
2026 |  |  |  |  |  | 15,028 |  |  |  | 511 |
2027 |  |  |  |  |  | 13,716 |  |  |  | 296 |
2028 |  |  |  |  |  | 9,411 |  |  |  | 282 |
2029 |  |  |  |  |  | 6,565 |  |  |  | 271 |
Thereafter |  |  |  |  |  | 26,285 |  |  |  | 238 |
Total lease payments |  |  |  |  |  | 76,413 |  |  |  | 1,882 |
Less imputed interest |  |  |  |  |  | (14,074 | ) |  |  | (280 | )
Total lease liabilities |  |  |  |  | $ | 62,339 |  |  | $ | 1,602 |

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- Definition Lease disclosure. + References No definition available. + Details
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- References No definition available. + Details
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