Leases

3 Months Ended

Sep. 30, 2020

Leases [Abstract]

Leases

Leases

The Company has operating leases for current corporate offices and certain equipment. These leases have remaining terms of approximately one to eleven years. As of September 30, 2020, the weighted average remaining lease term and weighted average discount rate for operating leases was 8.98 years and 3.36%, respectively.

For the three months ended September 30, 2020, operating lease expense was $1.2 million which includes $0.5 million related to the abandonment of the Sandy, UT office. 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,
	2020		2019
Operating cash outflows from operating leases	$	616	$	720
Right-of-use assets obtained in exchange for lease obligations	$	14,682	$	—

Maturity of lease liabilities at September 30, 2020 are as follows (in thousands):

Year ended June 30,	Amount
2021 (remaining nine months ending June 30, 2021)	$	1,973
2022	2,400
2023	3,011
2024	1,722
2025	1,606
Thereafter	7,913
Total	18,625
Less: imputed interest	(3,166)
Present value of lease liabilities	$	15,459