Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.20.1
Leases (Tables)
9 Months Ended
Mar. 31, 2020
Lessee Disclosure [Abstract]  
Schedule of Maturities of Operating Lease Liabilities

The following table provides details of the Company’s future minimum lease payments under operating lease liabilities recorded on the Company’s condensed consolidated balance sheet as of March 31, 2020. The table below does not include commitments that are contingent on events or other factors that are currently uncertain or unknown.

 

Fiscal years ending June 30, Total Operating
Lease Obligations
(in thousands)
 
2020 (remainder of)   $ 533  
2021     1,823  
2022     1,609  
2023     1,199  
2024     392  
Thereafter     692  
Total minimum lease payments   $ 6,248  
Less: amounts representing interest     444  
Present value of minimum lease payments   $ 5,804  
Less: current portion     1,744  
Long-term portion   $ 4,060  
Schedule of Operating Leases

The table below presents additional information related to the Company’s operating leases (in thousands):

 

    Nine months ended
March 31, 2020
 
Operating lease cost        
Operating lease cost (1)   $ 1,412  
Short-term lease cost (1)     153  
Variable lease cost (1)     113  
Total lease cost   $ 1,678  

 

(1) Expenses are classified within selling, general and administrative expenses in the Company’s condensed consolidated statement of operations.

 

The table below presents lease-related terms and discount rates as of March 31, 2020:

 

    March 31, 2020  
Weighted average remaining lease terms        
Operating leases     4.1 years  
Weighted average discount rate        
Operating leases     3.5%  
Schedule of Supplemental Cash Flow Information Related to Company's Long-Term Operating Lease Liabilities

The table below presents supplemental cash flow information related to the Company’s long-term operating lease liabilities as of March 31, 2020 (in thousands):

 

    Nine months ended
March 31, 2020
 
Cash paid for amounts included in the measurement of lease liabilities:   $ 1,412  
Operating lease right-of-use assets obtained in exchange for operating lease liabilities:   $ 1,366  
Schedule of Minimum future rental commitments

Minimum future rental commitments for all of the Company’s real property leases, including those with related parties, as of June 30, 2019, which continues to be presented in accordance with ASC Topic 840, Leases (“ASC 840” or “Topic 840”) approximate the following (in thousands):

 

Fiscal years ending June 30,  
2020   $ 1,922  
2021     1,554  
2022     1,332  
2023     1,031  
2024     179  
Total minimum lease payments   $ 6,018  
Schedule of Future Minimum Lease Payments Receivable

The future minimum lease payments receivable for sales type leases are as follows (in thousands): 

 

Fiscal years ending June 30,   Total Minimum
Lease Payments
Receivable
  Amortization
of Unearned
Income
  Net Investment
in Sales Type
Leases
2020 (remainder of)   $ 599     $ 267     $ 332  
2021     1,356       856       500  
2022     1,002       584       418  
2023     734       371       363  
2024     476       196       280  
Thereafter     286       127       159  
                    $ 2,052 *

* Excludes residual values of $1.6 million.