Leases

3 Months Ended

Sep. 30, 2023

Leases [Abstract]

Leases

Note 4. Leases

The Company has entered into leases for building facilities, vehicles and other equipment. The Company’s leases have remaining contractual terms through April 30, 2030, some of which have options to extend the lease for up to 10 years. For purposes of calculating operating lease liabilities, lease terms are deemed not to include options to extend the lease renewal until it is reasonably certain that the Company will exercise that option. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The components of lease expense are as follows:

	Three Months Ended September 30,
(In thousands)	2023		2022
Operating lease expense	$	2,073	$	1,960
Finance lease expense:
Amortization of finance lease assets	41		41
Interest on finance lease liabilities	7		10
Total lease expense	$	2,121	$	2,011

Maturities of lease liabilities are as follows:

	September 30, 2023
(In thousands)	Operating Leases		Finance Leases
2024	$	6,187	$	144
2025	7,125		193
2026	6,006		96
2027	4,292		—
2028	3,259		—
Thereafter	927		—
Total lease payments	27,796		433
Less: interest	(3,424)		(31)
Total lease obligations	$	24,372	$	402

Lease term and discount rate:

	September 30, 2023		June 30, 2023
Weighted-average remaining lease terms (in years):
Operating lease	5.7		5.9
Finance lease	2.3		2.5
Weighted-average discount rate:
Operating lease	6.26	%	6.20	%
Finance lease	6.50	%	6.50	%

Other Information:

	Three Months Ended September 30,
(In thousands)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,063	$	1,920
Operating cash flows from finance leases	7		10
Financing cash flows from finance leases	48		48

Leases

Note 4. Leases

The Company has entered into leases for building facilities, vehicles and other equipment. The Company’s leases have remaining contractual terms through April 30, 2030, some of which have options to extend the lease for up to 10 years. For purposes of calculating operating lease liabilities, lease terms are deemed not to include options to extend the lease renewal until it is reasonably certain that the Company will exercise that option. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The components of lease expense are as follows:

	Three Months Ended September 30,
(In thousands)	2023		2022
Operating lease expense	$	2,073	$	1,960
Finance lease expense:
Amortization of finance lease assets	41		41
Interest on finance lease liabilities	7		10
Total lease expense	$	2,121	$	2,011

Maturities of lease liabilities are as follows:

	September 30, 2023
(In thousands)	Operating Leases		Finance Leases
2024	$	6,187	$	144
2025	7,125		193
2026	6,006		96
2027	4,292		—
2028	3,259		—
Thereafter	927		—
Total lease payments	27,796		433
Less: interest	(3,424)		(31)
Total lease obligations	$	24,372	$	402

Lease term and discount rate:

	September 30, 2023		June 30, 2023
Weighted-average remaining lease terms (in years):
Operating lease	5.7		5.9
Finance lease	2.3		2.5
Weighted-average discount rate:
Operating lease	6.26	%	6.20	%
Finance lease	6.50	%	6.50	%

Other Information:

	Three Months Ended September 30,
(In thousands)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,063	$	1,920
Operating cash flows from finance leases	7		10
Financing cash flows from finance leases	48		48