Leases (Tables)

3 Months Ended

Sep. 30, 2025

Leases [Abstract]

Schedule of Assets and Liabilities

The following table presents the classification and location of the Group’s leases on the condensed consolidated

balance sheets (in thousands):

	September 30, 2025	June 30, 2025
Right-of-use assets:
Operating lease right-of-use assets	$4,199	$1,549
Finance lease right-of-use assets	14,144	16,544
	18,343	18,093
Lease liabilities:
Current portion of operating lease obligations	2,472	391
Non-current portion of operating lease obligations	1,795	1,175
Current portion of finance lease obligations	14,782	15,307
Non-current portion of finance lease obligations	6,561	9,523
	$25,610	$26,396

The following table presents supplemental information for the Group’s non-cancellable leases for the three months

ended September 30, 2025, and 2024:

	Three months ended September 30,
	2025	2024
Operating leases:
Weighted-average remaining lease term	2.16	3.57
Weighted-average incremental borrowing rate	13.57%	13.50%
Finance leases:
Weighted-average remaining lease term	1.58	1.83
Weighted-average incremental borrowing rate	12.76%	13.45%

Schedule of Lease Costs

For the three months ended September 30, 2025, and 2024, the components of the lease costs were as follows (in

thousands):

	Three months ended September 30,
	2025	2024
Operating leases:
Operating lease cost charged to profit and loss	$138	$157
Finance leases:
Interest on lease liabilities	668	796
Depreciation on right-of-use assets	2,321	2,533
Total finance lease cost	2,988	3,329
Less: Lease cost capitalized to unproved properties	(2,988)	(3,329)
Finance lease cost charged to profit and loss	$—	$—

The following table presents the cash flow information related to lease payments for the three months ended

September 30, 2025, and 2024 (in thousands):

	Three months ended September 30,
	2025	2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$138	$157
Financing cash flows for finance leases	3,076	—
	$3,215	$157

Schedule of Operating Lease Liabilities

As of September 30, 2025, the Group’s undiscounted minimum cash payment obligations for its lease liabilities are

as follows (in thousands):

As of September 30, 2025	Operating leases	Finance leases
Fiscal year ending June 30, 2026 (excluding three months period from July 1, 2025 to September 30, 2025)	$2,204	$11,954
Fiscal year ending June 30, 2027	1,844	11,297
Fiscal year ending June 30, 2028	341	—
Thereafter	477	—
Total lease payments	4,866	23,251
Less: Imputed interest	(599)	(1,908)
Present value of lease liabilities1	$4,267	$21,343

1 Includes both current and long-term portion of the lease liabilities.

Schedule of Finance Lease Liabilities

As of September 30, 2025, the Group’s undiscounted minimum cash payment obligations for its lease liabilities are

as follows (in thousands):

As of September 30, 2025	Operating leases	Finance leases
Fiscal year ending June 30, 2026 (excluding three months period from July 1, 2025 to September 30, 2025)	$2,204	$11,954
Fiscal year ending June 30, 2027	1,844	11,297
Fiscal year ending June 30, 2028	341	—
Thereafter	477	—
Total lease payments	4,866	23,251
Less: Imputed interest	(599)	(1,908)
Present value of lease liabilities1	$4,267	$21,343

1 Includes both current and long-term portion of the lease liabilities.