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Lessee Operating Leases | 12 Months Ended
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Jun. 30, 2025
Lessee Disclosure [Abstract] |
Lessee Operating Leases | 10. Lessee Operating Leases The Company leases office spaces in Boston, Massachusetts and Charleston, South Carolina under operating leases. Through December 2024, the Company also leased office space in Waltham, Massachusetts. The following table summarizes operating and variable lease cost and cash paid for amounts included in the measurement of lease liabilities for the years ended June 30, 2025 and 2024:
|  | For the twelve months ended June 30, |
(in thousands) |  | 2025 |  |  | 2024 |
Operating lease cost |  | $ | 492 |  |  | $ | 399 |
Variable lease cost |  |  | 59 |  |  |  | 66 |
Cash paid for operating leases |  |  | 493 |  |  |  | 436 |
The following table provides details on the leases presented in the consolidated balance sheets as of June 30, 2025 and 2024:
|  | June 30, 2025 |  |  | June 30, 2024 |
Weighted-average remaining life |  | 4.3 years |  |  | 1.9 years |
Weighted-average discount rate |  |  | 8.1 | % |  |  | 8.9 | %
The following table provides a maturity analysis of the Company's operating lease liabilities as of June 30, 2025:
(in thousands) |  | June 30, 2025 |
For the year ending June 30, 2026 |  | $ | 474 |
For the year ending June 30, 2027 |  |  | 421 |
For the year ending June 30, 2028 |  |  | 417 |
Thereafter |  |  | 569 |
Total lease payments |  | $ | 1,881 |
Imputed interest |  |  | (266 | )
Total lease liabilities |  | $ | 1,615 |
The Company’s office leases in Boston, Massachusetts, and Charleston, South Carolina, provide a five-year and a three-year optional extension periods, respectively. As the Company is not reasonably certain to exercise the options, the periods covered by the options are not included in the respective lease terms or the measurement of the respective lease liabilities.

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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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