Leases

3 Months Ended

Sep. 30, 2021

NOTE 13 – LEASES

The Company has non-cancelable operating leases for office facilities in various locations, data center facilities, and certain equipment, which expire through 2031. Also, the Company subleases part of its office facility in Draper, Utah under a non-cancellable operating lease that expires in December 2025. The Company's leases do not contain any material residual value guarantees.

As of September 30, 2021, the weighted average remaining term of these operating leases is 9.0 years and the weighted average discount rate used to estimate the net present value of the operating lease liabilities was 5.0%.

The total amount paid for amounts included in the measurement of operating lease liabilities was $3.1 million and $0.3 million during the three months ended September 30, 2021 and 2020, respectively.

The total amount right-of-use assets obtained in exchange for new operating lease liabilities was $1.2 million during the three months ended September 30, 2021.

Future minimum lease payments as of September 30, 2021 are as follows (in thousands):


Fiscal years ending June 30:	Amount
Remainder of 2022	$	10,310
2023		13,469
2024		12,934
2025		12,679
2026		12,516
2027		12,865
Thereafter		47,950
Gross lease payments		122,723
Less - present value adjustments		(24,928	)
Total operating lease liabilities, net	$	97,795

The components of lease expense during the three months ended September 30, 2021 and 2020 is shown on the table below (in thousands).


	Three months ended September 30,
	2021			2020
Operating lease expense	$	3,180		$	1,547
Short-term lease expense		82			141
Variable lease expense		598			668
Sublease income		(182	)		—
Total	$	3,678		$	2,356