Leases

3 Months Ended

Sep. 30, 2022

Leases [Abstract]

Leases

16.Leases

The Company has entered into leasing arrangements classified as operating leases under accounting guidance. These leasing arrangements relate primarily to the lease of its corporate head office, administration offices and branch locations through which the Company operates its financial services business in South Africa. The Company’s operating leases have remaining lease terms of between one and five years. The Company also operates parts of its financial services business from locations which it leases for a period of less than one year. The Company’s operating lease expense during the three months ended September 30, 2022 and 2021 was $0.8 million and $0.9 million, respectively. The Company does not have any significant leases that have not commenced as of September 30, 2022.

The Company has also entered into short-term leasing arrangements, primarily for the lease of branch locations and other locations, to operate its financial services business in South Africa. The Company’s short-term lease expense during the three months ended September 30, 2022 and 2021, was $1.1 million and $ 1.3 million, respectively.

The following table presents supplemental balance sheet disclosure related to the Company’s right-of-use assets and its operating lease liabilities as of September 30, 2022 and June 30, 2022:

	September 30,		June 30,
	2022		2022
Right of use assets obtained in exchange for lease obligations:
Weighted average remaining lease term (years)		2.93		2.77
Weighted average discount rate (percent)		9.5		9.6

The maturities of the Company’s operating lease liabilities as of September 30, 2022, are presented below:

Maturities of operating lease liabilities
Year ended June 30,
2023 (excluding three months to September 30, 2022)	$	1,929
2024		1,812
2025		1,110
2026		892
2027		908
Thereafter		802
Total undiscounted operating lease liabilities		7,453
Less imputed interest		1,348
Total operating lease liabilities, included in		6,105
Operating lease liability - current		1,772
Operating lease liability - long-term	$	4,333