Leases

9 Months Ended

Mar. 31, 2022

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 ten years. As of March 31, 2022, the weighted average remaining lease term and weighted average discount rate for operating leases was 8.49 years and 3.30%, respectively.

For the three months ended March 31, 2022 and 2021, operating lease expense was $0.8 million and $0.8 million, respectively. For the nine months ended March 31, 2022 and 2021, operating lease expense was $2.5 million and $2.8 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,
	2022		2021		2022		2021
Operating cash outflows from operating leases	$	804	$	645	$	1,858	$	2,037
Right-of-use assets obtained in exchange for lease obligations	$	—	$	317	$	—	$	15,013

Maturity of lease liabilities at March 31, 2022 are as follows (in thousands):

Year ended June 30,	Amount
2022 (remaining three months ending June 30, 2022)	$	791
2023	3,197
2024	2,010
2025	1,606
2026	1,646
Thereafter	9,810
Total	19,060
Less: imputed interest	(2,496)
Present value of lease liabilities	$	16,564