Leases (Tables)

12 Months Ended

Jun. 30, 2020

Leases [Abstract]

Summary of lease costs recognized under ASC 842 and other information pertaining to the Company's operating and finance leases

The table below summarizes the lease costs recognized under ASU 2016-02 and other information pertaining to the Company’s operating and finance leases for the year ended June 30, 2020.

In thousands
Lease cost:
Finance lease cost
Amortization of right-of-use asset	$	46
Interest on lease liability		8
Operating lease cost		770
Variable lease cost		379
Total lease cost	$	1,203
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for finance lease	$	8
Operating cash flows used for operating leases	$	1,091
Financing cash flows used for finance lease	$	45
Other information:
Weighted average remaining lease term - operating leases (in years)		6.1
Weighted average remaining lease term - finance lease (in years)		1.8
Weighted average discount rate - operating leases		8.5	%
Weighted average discount rate - finance lease		6.9	%

Summary of future minimum commitments under the ASC 842 for the Company's operating and financing leases

As of June 30, 2020, future minimum commitments for the Company’s operating and finance leases for the years ending June 30 are summarized below.

In thousands
Operating lease liabilities:
2021	$	1,109
2022		1,128
2023		1,148
2024		1,168
2025		888
Thereafter		1,159
Total future minimum payments for operating leases		6,600
Imputed interest		(1,472	)
Operating lease liabilities per the balance sheet	$	5,128
Finance lease liability:
2021	$	53
2022		39
Total future minimum payments for finance lease		92
Imputed interest		(6	)
Total finance lease liability per the balance sheet	$	86

Summary of Future Annual Minimum Lease Payments Under Non-Cancelable Operating Leases

As such, below are the Company’s annual minimum lease payments, including estimated common area maintenance charges, for the years ended or ending June 30 under non-cancelable operating leases as of June 30, 2019.

In thousands
2020	$	1,353
2021		1,376
2022		1,400
2023		1,425
2024		1,450
Thereafter		2,638
Total	$	9,642