Leases

3 Months Ended

Sep. 30, 2023

Operating lease expense amounted to $0.5 million and $0.5 million for three months period ended September 30, 2023 and 2022. As of September 30, 2023, the Company’s right-of-use "ROU" assets, lease obligations and remaining cash commitment on these leases were as follows (in thousands):


	Right-of-Use Assets		Operating Lease Obligations		Remaining Cash Commitment
Operating leases	$	4,630	$	4,773	$	5,486

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 3.1 years. As of September 30, 2023, the Company’s financing leases are not material. The foreign exchange impact affecting the operating leases are, also, not material.

There are no significant changes to fiscal year minimum operating lease commitments as reported in Note 9 to the Consolidated Financial Statements in the Company's Annual Report on Form 10-K, as amended, for the period ended June 30, 2023.