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Leases | 6 Months Ended
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Dec. 31, 2024
Leases |
Leases | 5. LEASES ​ We lease our office facilities under non-cancelable operating leases that expire on various dates through fiscal year 2033. We modified one of our existing operating leases by extending the terms under such leases, which resulted in an increase in operating lease right-of-use assets and operating lease liabilities in the amount of approximately $599,000 during the three and six months ended December 31, 2024. All of our office leases are classified as operating leases with lease expense recognized on a straight-line basis over the lease term. Lease ROU assets and liabilities are recognized on the commencement date at the present value of lease payments over the lease term. As our leases do not provide an implicit rate, we use our incremental borrowing rate based on information available at the commencement date to determine the present value of lease payments. ​ Total operating lease costs were $383,000 and $325,000 for the three months ended December 31, 2024 and 2023, respectively. Total operating lease costs were $683,000 and $650,000 for the six months ended December 31, 2024 and 2023, respectively. ​ For the three and six months ended December 31, 2024, operating cash outflows for operating leases were $322,000 and $596,000, respectively. For the three and six months ended December 31, 2023, operating cash outflows for operating leases were $276,000 and $590,000, respectively. The following tables present information about leases on our condensed consolidated balance sheets (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | June 30, | ​
​ | ​ | 2024 | ​ | 2024 | ​
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease right-of-use assets | ​ | $ | 3,834 | ​ | $ | 3,811 | ​
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease liabilities | ​ | ​ | 1,089 | ​ | ​ | 1,179 | ​
Operating lease liabilities, net of current portion | ​ | ​ | 2,790 | ​ | ​ | 2,592 | ​
​ ​ The following table presents information about the weighted average lease term and discount rate as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | June 30, | ​
​ | ​ | 2024 | ​ | 2024 | ​
Weighted average remaining lease term (in years) | ​ | ​ | 5.24 | ​ | ​ | 5.52 | ​
Weighted average discount rate | ​ | ​ | 8.10 | % | ​ | 7.66 | %
​ ​ As of December 31, 2024, remaining maturities of lease liabilities are as follows (in thousands): ​
​ | ​ | ​ | ​
Fiscal Period: | ​ | ​ | ​
Remaining six months of fiscal year 2025 | ​ | $ | 549
Fiscal year 2026 | ​ | ​ | 1,159
Fiscal year 2027 | ​ |  | 1,081
Fiscal year 2028 | ​ |  | 567
Fiscal year 2029 | ​ | ​ | 400
Fiscal year 2030 | ​ | ​ | 276
Fiscal year 2031 and thereafter | ​ | ​ | 966
Total minimum lease payments | ​ | ​ | 4,998
Less: Imputed interest | ​ | ​ | (1,119)
Total operating lease liabilities | ​ | ​ | 3,879
Less: Current operating lease liabilities | ​ | ​ | (1,089)
Total operating lease liabilities, net of current portion | ​ | $ | 2,790
​

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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