XML 125 R9.htm IDEA: XBRL DOCUMENT v3.25.1
Leases
 9 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Leases Leases
The Company has operating leases for current corporate offices and certain equipment. These leases have remaining terms of approximately one to seven years. As of March 31, 2025, the weighted average remaining lease term and weighted average discount rate for operating leases was 6.20 years and 3.43%, respectively. As of June 30, 2024, the weighted average remaining lease term and weighted average discount rate for operating leases was 6.90 years and 3.46%, respectively.
For the three months ended March 31, 2025 and 2024, operating lease expense was $0.5 million and $0.5 million, respectively. For the nine months ended March 31, 2025 and 2024, operating lease expense was $1.5 million and $1.6 million, respectively.
The components of lease expense for the three and nine months ended March 31, 2025 and 2024, were as follows (in thousands):
Three Months Ended March 31,Nine Months Ended March 31,
2025202420252024
Operating lease expense
Operating lease cost$468 $459 $1,406 $1,451 
Variable lease cost44 42 118 136 
Short-term lease costs1 12 10 35 
Total lease expense$513 $513 $1,534 $1,622 
Supplemental cash flow information related to operating leases was as follows (in thousands):
Three Months Ended March 31,Nine Months Ended March 31,
2025202420252024
Operating cash outflows from operating leases$573 $560 $1,703 $1,651 
Right-of-use assets obtained in exchange for lease obligations$— $265 $— $1,767 
Maturity of lease liabilities at March 31, 2025 are as follows (in thousands):
Year ended June 30,Amount
2025 (remaining three months ending June 30, 2025)$576 
20262,332 
20272,333 
20282,061 
20291,772 
Thereafter4,621 
Total13,695 
Less: imputed interest(1,337)
Present value of lease liabilities$12,358