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LEASES (Tables)

12 Months Ended

Jun. 30, 2021

At June 30, 2021, the Company has the following balances recorded in the balance sheet related to its lease arrangements:


($ in thousands)	Balance Sheet Classification	As of June 30, 2021		As of June 30, 2020

Assets
Operating leases	Operating lease right-of-use assets	$	3,049	$	5,603

Liabilities
Current	Accrued expenses	1,166		1,075
Long-term	Operating lease liabilities, non-current	3,645		4,749
Total lease liabilities		$	4,811	$	5,824

Components of lease cost are as follows:

* Includes short-term lease and variable lease costs, which are not material.

Supplemental cash flow information and non-cash activity related to our leases are as follows:


($ in thousands)	Year ended June 30, 2021		Year ended June 30, 2020

Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	1,635	$	1,784

Non-cash activity
Right-of-use assets obtained in exchange for lease obligations
Operating lease liabilities	$	—	$	3,384

Weighted-average remaining lease term and discount rate for our leases are as follows:


	Year ended June 30, 2021		Year ended June 30, 2020
Weighted-average remaining lease term (years)
Operating leases	4.3		5.2

Weighted-average discount rate
Operating leases	6.9	%	6.8	%

Maturities of lease liabilities by fiscal year for our leases are as follows:


($ in thousands)	Operating Leases
2022	$	1,460
2023	1,492
2024	1,029
2025	707
2026	628
Thereafter	265
Total lease payments	$	5,581
Less: Imputed interest	(770)
Present value of lease liabilities	$	4,811

Property and equipment used for the operating lease rental program consisted of the following: