Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.21.2
Leases (Tables)
3 Months Ended
Sep. 30, 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 September 30, 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)

2022 (remainder of)

$

1,878

 

2023

2,182

 

2024

1,303

 

2025

834

 

2026

603

 

Thereafter

1,692

 

Total minimum lease payments

$

8,492

 

Less: amounts representing interest

601

 

Present value of minimum lease payments

$

7,891

 

Less: current portion

2,293

 

Long-term portion

$

5,598

 

Schedule of Operating Leases

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

Three months ended

September 30,

2021

2020

Operating lease cost

 

Operating lease cost (1)

$

621

 

$

474

 

Short-term lease cost (1)

-

 

12

 

Variable lease cost (1)

35

 

116

 

Total lease cost

$

656

 

$

602

 

 

(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 September 30, 2021:

September 30, 2021

Weighted average remaining lease terms

Operating leases

5.1 years

Weighted average discount rate

Operating leases

2.9%

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 three months ended September 30, 2021 and 2020 (in thousands):

Three months ended

September 30, 2021

2021

2020

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

$

621

 

$

474

 

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

$

610

 

$

1,928

 

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

2022 (remainder of)

$

2,470

$

1,489

$

981

 

2023

2,639

1,549

1,090

 

2024

2,055

1,135

920

 

2025

1,448

746

702

 

2026

928

412

516

 

Thereafter

629

279

350

 

$

4,559*

 

* Excludes residual values of $2.4 million.