Leases

9 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Leases

Leases

Operating lease expense amounted to $0.5 million and $1.5 million for the three and nine months period ended for March 31, 2024 and March 31, 2023. For the three and nine months period ended March 31, 2023 operating lease expense was $0.5 million and $1.5 million. As of March 31, 2024, the Company’s right-of-use assets "ROU", lease obligations and remaining cash commitment on these leases (in thousands):

	Right-of-Use Assets	Operating Lease Obligations	Remaining Cash Commitment
Total leases	$3,978	$4,132	$4,701

The Company has other operating lease agreements with commitments of less than one year or that are not material. The Company expenses lease payments as incurred. The Company’s weighted average discount rate and remaining term on lease liabilities is approximately 9.0% and 2.7 years. As of March 31, 2024, the Company’s financing leases are not material. The foreign exchange impact affecting the operating leases are, also, not material.

In the three months and nine months ended March 31, 2024 the Company entered into no new leases and $0.3 million.

At March 31, 2024, the Company had the following fiscal year minimum operating lease commitments (in thousands):

	Operating Lease Commitments
2024 (Remainder of year)	$	580
2025	1,782
2026	1,486
2027	742
2028	111
Thereafter	—
Subtotal	4,701
Imputed interest	(569)
Total	$	4,132