Leases

6 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Leases

Leases

Operating lease cost amounted to $0.5 million and $1.0 million for the three and six months ended December 31, 2023 and $0.8 million and $1.0 million for the three and six months ended December 31, 2022. As of December 31, 2023, the Company’s right-of-use assets "ROU", lease obligations and remaining cash commitment on these leases were as follows (in thousands):

	Right-of-Use Assets		Operating Lease Obligations		Remaining Cash Commitment
Leases	$	4,421	$	4,570	$	5,235

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 2.8 years. As of December 31, 2023, the Company’s financing leases are not material. The foreign exchange impact affecting the operating leases are, also, not material.

The Company entered into $0.1 million and $0.2 million, in new operating lease commitments in the three and six months ended December 31, 2023.