Leases

6 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Leases

Leases

Operating lease cost amounted to $0.6 million and $1.2 million for six months period ended December 31, 2020 and 2019. As of December 31, 2020, the Company’s right-of-use assets, lease obligations and remaining cash commitment on these leases (in thousands):

	Right-of-Use Assets		Operating Lease Obligations		Remaining Cash Commitment
Operating leases	$	4,782	$	4,873	$	5,774

The Company has other operating lease agreements with commitments of less than one year or that are not significant. The Company elected the practical expedient option and as such, these lease payments are expensed as incurred. The Company’s weighted average discount rate and remaining term on lease liabilities is approximately 9.0% and 4.1 years. As of December 31,

2020, the Company’s financing leases are de minimis. The foreign exchange impact affecting the operating leases are de minimis.

The Company entered into $0.9 million in operating lease commitments and incurred $0.1 of exchange expense during the six months ended December 31, 2020. The Company completed a sale and leaseback of their Mount Airy NC Facility (see note 13) and recognized an ROU asset of 66,000 square feet in the amount of $0.8 million for a three year lease with an option for 2 more years.

At December 31, 2020, the Company had the following fiscal year minimum operating lease commitments (in thousands)

Six months ended December 31, 2020	Operating Lease Commitments
2021 (Remainder of year)	$	1,256
2022	1,342
2023	1,110
2024	913
2025	640
Thereafter	512
Subtotal	$	5,774
Imputed interest	(901)
Total	4,873