Leases

12 Months Ended

Jun. 30, 2022

Leases [Abstract]

Leases

LEASES

The Company has non-cancelable operating leases for office and other facilities in various locations, 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 June 30, 2022, the weighted average remaining term of these operating leases is 8.2 years and the weighted-average discount rate used to estimate the net present value of the operating lease liabilities was 5.1%.

The total payment for amounts included in the measurement of operating lease liabilities was $13.8 million and $2.1 million during the years ended June 30, 2022 and 2021, respectively.

The total amount of right-of-use assets obtained in exchange for new operating lease liabilities was $5.3 million and $31.6 million during the years ended June 30, 2022 and 2021, respectively.

The components of lease expense during the years ended June 30, 2022 and 2021 are shown in the table below (in thousands), while the lease expense during the year ended June 30, 2020 was $5.3 million.

	Year ended June 30
	2022		2021
Operating lease expense	$	12,906	$	7,444
Short-term lease expense	77		382
Variable lease expense, net of credit	2,909		2,252
Sublease income	(712)		(55)
Total lease cost	$	15,180	$	10,023