Leases

9 Months Ended

Mar. 31, 2021

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 March 31, 2021, the weighted average remaining lease term and weighted average discount rate for operating leases was 9.09 years and 3.35%, respectively.

For the three months ended March 31, 2021 and 2020, operating lease expense was $0.8 million and $0.7 million, respectively. For the nine months ended March 31, 2021 and 2020, operating lease expense was $2.8 million and $2.0 million, respectively.

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

	Three Months Ended March 31,				Nine Months Ended March 31,
	2021		2020		2021		2020
Operating cash outflows from operating leases	$	645	$	716	$	2,037	$	2,156
Right-of-use assets obtained in exchange for lease obligations	$	317	$	—	$	15,013	$	—

Maturity of lease liabilities at March 31, 2021 are as follows (in thousands):

Year ended June 30,	Amount
2021 (remaining three months ending June 30, 2021)	$	496
2022	2,454
2023	3,068
2024	1,785
2025	1,606
Thereafter	11,456
Total	20,865
Less: imputed interest	(3,031)
Present value of lease liabilities	$	17,834