Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.22.2.2
Leases (Tables)
3 Months Ended
Sep. 30, 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 September 30, 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)

2023 (remainder of)

$

2,088

 

2024

1,982

 

2025

1,408

 

2026

972

 

2027

798

 

Thereafter

1,288

 

Total minimum lease payments

$

8,536

 

Less: amounts representing interest

625

 

Present value of minimum lease payments

$

7,911

 

Less: current portion

2,471

 

Long-term portion

$

5,440

 

Schedule of Operating Leases

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

Three months ended

September 30,

2022

2021

Operating lease cost

 

Operating lease cost (1)

$

773

 

$

621

 

Short-term lease cost (1)

-

 

-

 

Variable lease cost (1)

18

 

35

 

Total lease cost

$

791

 

$

656

 

 

(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, 2022:

September 30, 2022

Weighted average remaining lease terms

Operating leases

4.7 years

Weighted average discount rate

Operating leases

3.3%

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, 2022 and 2021 (in thousands):

Three months ended

September 30,

2022

2021

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

$

773

 

$

621

 

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

$

300

 

$

610

 

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

2023 (remainder of)

$

3,010

$

1,814

$

1,196

 

2024

3,131

1,891

1,240

 

2025

2,312

1,340

972

 

2026

1,660

840

820

 

2027

870

449

421

 

Thereafter

679

264

415

 

$

5,064*

 

* Excludes residual values of $2.7 million.