Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.22.1
Leases (Tables)
9 Months Ended
Mar. 31, 2022
Leases [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, 2022. 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)

$

688

 

2023

2,579

 

2024

1,727

 

2025

1,169

 

2026

803

 

Thereafter

1,921

 

Total minimum lease payments

$

8,887

 

Less: amounts representing interest

645

 

Present value of minimum lease payments

$

8,242

 

Less: current portion

2,458

 

Long-term portion

$

5,784

 

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,

2022

2021

2022

2021

Operating lease cost

 

Operating lease cost (1)

1,781

1,475

$

671

$

482

 

Short-term lease cost (1)

-

12

-

-

 

Variable lease cost (1)

320

287

44

122

Total lease cost

2,101

1,774

$

715

$

604

 

(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, 2022:

March 31, 2022

Weighted average remaining lease terms

Operating leases

4.9 years

Weighted average discount rate

Operating leases

3.1%

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, 2022 and 2021 (in thousands):

Nine months ended March 31,

2022

2021

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

$

1,919

$

1,475

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

$

2,010

$

3,793

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)

$

1,004

$

595

$

409

 

2023

3,356

1,995

1,361

 

2024

2,577

1,476

1,101

 

2025

1,825

973

852

 

2026

1,211

551

660

 

Thereafter

935

419

516

 

$

4,899

*

* Excludes residual values of $2.5 million.