EVI Industries, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

Leases (Tables)

9 Months Ended

Mar. 31, 2023

Leases [Abstract]

Schedule of operating lease liabilities

Fiscal years ending June 30,		Total Operating Lease Obligations (in thousands)
2023 (remainder of)		$	930
2024			2,814
2025			2,095
2026			1,458
2027			1,019
Thereafter			1,442
Total minimum lease payments			9,758
Less: amounts representing interest			(688	)
Present value of minimum lease payments			9,070
Less: current portion			(2,867	)
Long-term portion		$	6,203

Schedule of Operating Leases

		Nine months ended March 31,								Three months ended March 31,
		2023				2022				2023				2022
Operating lease expense
Operating lease cost		$	2,581			$	1,781			$	965			$	671
Variable lease cost			156				320				12				44
Total operating lease expense (1)		$	2,737			$	2,101			$	977			$	715

(1)

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

		March 31, 2023
Weighted average remaining lease terms
Operating leases		4.3 years
Weighted average discount rate
Operating leases		3.4 %

Schedule of Supplemental Cash Flow Information Related to Company's Long-Term Operating Lease Liabilities

		Nine months ended March 31,
		2023				2022
Cash paid for amounts included in the measurement of lease liabilities:		$	2,581			$	1,919
Operating lease right-of-use assets obtained in exchange for operating lease liabilities:		$	2,835			$	2,010

Schedule of minimum lease payments receivable

Fiscal years ending June 30,		Total Minimum Lease Payments Receivable				Amortization of Unearned Income				Net Investment in Sales Type Leases
2023 (remainder of)		$	1,185			$	726			$	459
2024			3,953				2,524				1,429
2025			3,011				1,898				1,113
2026			2,384				1,335				1,049
2027			1,600				796				804
Thereafter			1,275				572				703
										$	5,557	*

* Excludes residual values of $2.9 million.