Leases

3 Months Ended

Sep. 30, 2019

Leases [Abstract]

Leases

Leases

The Company has operating leases for corporate offices and certain equipment. These leases have remaining terms of one to two years, some of which include options to extend the leases for up to an additional three years. As of September 30, 2019, the weighted average remaining lease term and weighted average discount rate for operating leases was 1.24 years and 4.91%, respectively.

For the three months ended September 30, 2019, operating lease expense was $0.7 million.

Supplemental cash flow information related to operating leases was as follows (in thousands):

	Three Months Ended September 30, 2019
Operating cash flows from operating leases	$	720
Right-of-use assets obtained in exchange for lease obligations	$	—

Maturity of lease liabilities at September 30, 2019 are as follows (in thousands):

Year ended June 30,	Amount
2020 (remaining nine months ending June 30, 2020)	$	2,152
2021	1,140
Total	3,292
Less: imputed interest	(73)
Present value of lease liabilities	$	3,219

Under ASC 840, minimum future operating lease obligations at June 30, 2019 are as follows (in thousands):

Year ending June 30,	Amount
2020	$	2,872
2021	1,140
Total	$	4,012