Leases

3 Months Ended

Sep. 30, 2022

Leases [Abstract]

Leases

6. Leases

The Company has entered into various operating lease agreements for certain of its offices, manufacturing facilities and equipment, and finance lease agreements for certain equipment. These leases have original lease periods expiring between 2022 and 2027. Most leases include one or more options to renew, and the exercise of a lease renewal option typically occurs at the discretion of both parties. Certain leases also include options to purchase the leased property. The Company’s lease agreements generally do not contain any material residual value guarantees or material restrictive covenants.

The components of lease expenses are as follows:

	Three Months Ended
	September 30,
	2022		2021		Statement of Operations Classification
	(In thousands)
Lease cost:
Operating lease cost	$	222	$	296	Operating expenses
Short-term lease cost		160		39	Operating expenses
Finance lease cost:
Amortization of leased assets		18		18	Cost of sales
Interest on lease liabilities		3		4	Other (expense), net
Total net lease cost	$	403	$	357

Supplemental balance sheet information related to leases is as follows:

	September 30,		June 30,		Balance Sheet Classification
	2022		2022
	(In thousands)
Assets:
Operating lease assets	$	2,976	$	3,271	Operating lease right-of-use asset
Finance lease assets		238		256	Property and equipment, net
Total leased assets	$	3,214	$	3,527
Liabilities:
Current:
Operating leases	$	1,252	$	1,227	Other current liabilities
Finance leases		92		96	Current portion of debt
Non-current
Operating leases		1,768		2,090	Other non-current liabilities
Finance leases		62		84	Debt, net of current portion
Total lease liabilities	$	3,174	$	3,497

Remaining lease term and discount rate used are as follows:

	September 30,			June 30,
	2022			2022
Weighted-Average Remaining Lease Term (years)
Operating lease assets		2.39			2.63
Finance lease assets		1.48			1.73
Weighted-Average Discount Rate
Operating lease assets		7.54	%		7.48	%
Finance lease assets		6.43	%		6.43	%

Supplemental cash flow information related to lease is as follows:

	Three Months Ended
	September 30,
	2022		2021
	(In thousands)
Cash flow classification of lease payments:
Operating cash flows from operating leases	$	357	$	282
Operating cash flows from finance leases	$	3	$	4
Financing cash flows from finance leases	$	27	$	25

As of September 30, 2022, the maturities of the Company’s future minimum lease payments were as follows:

	Operating		Finance
	(In thousands)
2023 (remaining 9 months)	$	1,079	$	75
2024		1,379		87
2025		749		—
2026		90		—
2027		46		—
Total lease payments		3,343		162
Less: Imputed interest		(323)		(8)
Lease liabilities	$	3,020	$	154