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v3.23.1

Leases | 9 Months Ended
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Mar. 31, 2023
Leases [Abstract] |
Leases | 6. Leases The Company has entered into various operating lease agreements for certain of its offices, manufacturing facilities and equipment, and finance lease agreements for certain equipment. These leases have original lease periods expiring between fiscal years 2023 and 2027. Most leases include one or more options to renew, and the exercise of a lease renewal option typically occurs at the discretion of both parties. Certain leases also include options to purchase the leased property. The Company’s lease agreements generally do not contain any material residual value guarantees or material restrictive covenants. The components of lease expenses are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended | ​ | ​
​ | ​ | March 31, | ​ | March 31, | ​ | ​
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022 |  | Statement of Operations Classification
​ | ​ | (In thousands) | ​ | ​
Lease cost: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease cost | ​ | $ | 360 | ​ | $ | 316 | ​ | $ | 1,076 | ​ | $ | 942 |  | Operating expenses
Short-term lease cost |  |  | 27 | ​ |  | 65 |  |  | 71 | ​ |  | 130 |  | Operating expenses
Finance lease cost: |  |  | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​
Amortization of leased assets |  |  | 14 | ​ |  | 18 |  |  | 51 | ​ |  | 55 |  | Cost of sales
Interest on lease liabilities | ​ | ​ | 2 | ​ | ​ | 3 | ​ | ​ | 7 | ​ | ​ | 11 | ​ | Other (expense), net
Total net lease cost |  | $ | 403 | ​ | $ | 402 |  | $ | 1,205 | ​ | $ | 1,138 |  |
​ ​ Supplemental balance sheet information related to leases is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, | ​ | June 30, |  | Balance Sheet Classification
​ | ​ | 2023 | ​ | 2022 | ​ | ​
​ | ​ | (In thousands) | ​ | ​
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease assets | ​ | $ | 2,367 | ​ | $ | 3,271 |  | Operating lease right-of-use asset
Finance lease assets | ​ | ​ | 174 | ​ |  | 256 |  | Property and equipment, net
Total leased assets | ​ | $ | 2,541 | ​ | $ | 3,527 |  | ​
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ |  | ​
Current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating leases | ​ | $ | 1,252 | ​ | $ | 1,227 | ​ | Other current liabilities
Finance leases | ​ | ​ | 91 | ​ | ​ | 96 | ​ | Current portion of debt
Non-current | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating leases | ​ | ​ | 1,154 | ​ | ​ | 2,090 | ​ | Other non-current liabilities
Finance leases | ​ | ​ | 15 | ​ | ​ | 84 | ​ | Debt, net of current portion
Total lease liabilities | ​ | $ | 2,512 | ​ | $ | 3,497 | ​ | ​
​ ​ Remaining lease term and discount rate used are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, | ​ | June 30, |
​ | ​ | 2023 | ​ | 2022 | ​
Weighted-Average Remaining Lease Term (years) | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease assets |  | ​ | 1.94 | ​ | ​ | 2.63 | ​
Finance lease assets |  | ​ | 1.12 | ​ | ​ | 1.73 | ​
Weighted-Average Discount Rate |  | ​ | ​ | ​ | ​ | ​ | ​
Operating lease assets |  | ​ | 7.68 | % | ​ | 7.48 | %
Finance lease assets | ​ | ​ | 6.54 | % | ​ | 6.43 | %
​ ​ Supplemental cash flow information related to lease is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended
​ | ​ | March 31,
​ |  | 2023 |  | 2022
​ | ​ | (In thousands)
Cash flow classification of lease payments: | ​ | ​ | ​ | ​ | ​ | ​
Operating cash flows - operating leases | ​ | $ | 1,076 | ​ | $ | 942
Operating cash flows - finance leases | ​ | $ | 7 | ​ | $ | 12
Financing cash flows - finance leases | ​ | $ | 73 | ​ | $ | 76
​ ​ As of March 31, 2023, the maturities of the Company’s future minimum lease payments were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Operating |  | Finance
​ | ​ | (In thousands)
2023 (remaining 3 months) | ​ | $ | 360 | ​ | $ | 23
2024 | ​ | ​ | 1,379 | ​ | ​ | 87
2025 | ​ | ​ | 749 | ​ | ​ | —
2026 | ​ | ​ | 90 | ​ | ​ | —
2027 | ​ | ​ | 46 | ​ | ​ | —
Total lease payments | ​ | ​ | 2,624 | ​ | ​ | 110
Less: Imputed interest | ​ | ​ | (218) | ​ | ​ | (4)
Lease liabilities | ​ | $ | 2,406 | ​ | $ | 106
​

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