Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.21.1
Leases (Tables)
9 Months Ended
Mar. 31, 2021
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, 2021. 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)

2021 (remainder of)

$

586

 

2022

2,258

 

2023

1,864

 

2024

986

 

2025

700

 

Thereafter

2,347

 

Total minimum lease payments

$

8,741

 

Less: amounts representing interest

679

 

Present value of minimum lease payments

$

8,062

 

Less: current portion

2,091

 

Long-term portion

$

5,971

 

Schedule of Operating Leases

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

Nine months ended March 31,

Three months ended March 31,

2021

2020

2021

2020

Operating lease cost

 

Operating lease cost (1)

$

1,475

$

1,412

$

482

$

507

 

Short-term lease cost (1)

12

153

-

39

 

Variable lease cost (1)

287

113

122

64

Total lease cost

$

1,774

$

1,678

$

604

$

610

 

(1)

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

The table below presents lease-related terms and discount rates as of March 31, 2021:

March 31, 2021

Weighted average remaining lease terms

Operating leases

5.6 years

Weighted average discount rate

Operating leases

3.0%

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 for the nine months ended March 31, 2021 and 2020 (in thousands):

Nine months ended March 31,

2021

2020

Cash paid for amounts included in the measurement of lease liabilities:

$

1,475

$

1,412

Operating lease right-of-use assets obtained in exchange for operating lease liabilities:

$

3,793

$

1,366

Schedule of Minimum future rental commitments

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

2021 (remainder of)

$

792

$

440

$

352

 

2022

2,753

1,516

1,237

 

2023

2,133

1,134

999

 

2024

1,545

777

768

 

2025

960

454

506

 

Thereafter

914

406

508

 

$

4,370

*

* Excludes residual values of $2.3 million.