Leases

6 Months Ended

Dec. 31, 2019

Leases [Abstract]

Leases

Leases

The Company has operating leases for current corporate offices and certain equipment. These leases have remaining terms of one year to two years. As of December 31, 2019, the weighted average remaining lease term and weighted average discount rate for operating leases was 1.01 years and 4.92%, respectively.

For the three months ended December 31, 2019, operating lease expense was $0.7 million. For the six months ended December 31, 2019, operating lease expense was $1.3 million.

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

	Three Months Ended December 31, 2019		Six Months Ended December 31, 2019
Operating cash outflows from operating leases	$	720	$	1,440
Right-of-use assets obtained in exchange for lease obligations	$	—	$	—

Maturity of lease liabilities at December 31, 2019 are as follows (in thousands):

Year ended June 30,	Amount
2020 (remaining six months ending June 30, 2020)	$	1,413
2021	1,203
Total	2,616
Less: imputed interest	(58)
Present value of lease liabilities	$	2,558

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