Leases (Notes)

12 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

Note 6. 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.

Supplemental consolidated balance sheet information related to leases is as follows:

		As of June 30,
(In thousands)	Classification	2024		2023
Operating lease assets	Right-of-use operating lease assets	$	35,241	$	24,593
Finance lease assets	Property, plant and equipment, net	246		410
Total lease assets		$	35,487	$	25,003
Operating lease liabilities - current	Operating lease liabilities - current	14,046		8,040
Finance lease liabilities - current	Other current liabilities	193		193
Operating lease liabilities - noncurrent	Operating lease liabilities - noncurrent	21,766		17,157
Finance lease liabilities -noncurrent	Other long-term liabilities	82		251
Total lease liabilities		$	36,087	$	25,641

The components of lease expense are as follows:

	For the Years Ended June 30,
(In thousands)	2024		2023		2022
Operating lease expense	$	13,785	$	7,943	$	7,526
Finance lease expense:
Amortization of finance lease assets	164		164		164
Interest on finance lease liabilities	24		34		44
Total lease expense	$	13,973	$	8,141	$	7,734

The maturities of the lease liabilities are as follows:

	For the Years Ended June 30,
(In thousands)	Operating Leases		Finance Leases
2025	$	14,046	$	193
2026	9,627		96
2027	7,205		—
2028	6,244		—
2029	3,220		—
Thereafter	317		—
Total lease payments	40,659		289
Less: interest	(4,847)		(14)
Total lease obligations	$	35,812	$	275

Lease term and discount rate:

	For the Years Ended June 30,
	2024		2023
Weighted-average remaining lease terms (in years):
Operating lease	5.2		5.9
Finance lease	1.5		2.5
Weighted-average discount rate:
Operating lease	6.65	%	6.20	%
Finance lease	6.50	%	6.50	%

Other Information:

	For the Years Ended June 30,
(In thousands)	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	12,956	$	7,845
Operating cash flows from finance leases	24		34
Financing cash flows from finance leases	193		193

Leases

Note 6. 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.

Supplemental consolidated balance sheet information related to leases is as follows:

		As of June 30,
(In thousands)	Classification	2024		2023
Operating lease assets	Right-of-use operating lease assets	$	35,241	$	24,593
Finance lease assets	Property, plant and equipment, net	246		410
Total lease assets		$	35,487	$	25,003
Operating lease liabilities - current	Operating lease liabilities - current	14,046		8,040
Finance lease liabilities - current	Other current liabilities	193		193
Operating lease liabilities - noncurrent	Operating lease liabilities - noncurrent	21,766		17,157
Finance lease liabilities -noncurrent	Other long-term liabilities	82		251
Total lease liabilities		$	36,087	$	25,641

The components of lease expense are as follows:

	For the Years Ended June 30,
(In thousands)	2024		2023		2022
Operating lease expense	$	13,785	$	7,943	$	7,526
Finance lease expense:
Amortization of finance lease assets	164		164		164
Interest on finance lease liabilities	24		34		44
Total lease expense	$	13,973	$	8,141	$	7,734

The maturities of the lease liabilities are as follows:

	For the Years Ended June 30,
(In thousands)	Operating Leases		Finance Leases
2025	$	14,046	$	193
2026	9,627		96
2027	7,205		—
2028	6,244		—
2029	3,220		—
Thereafter	317		—
Total lease payments	40,659		289
Less: interest	(4,847)		(14)
Total lease obligations	$	35,812	$	275

Lease term and discount rate:

	For the Years Ended June 30,
	2024		2023
Weighted-average remaining lease terms (in years):
Operating lease	5.2		5.9
Finance lease	1.5		2.5
Weighted-average discount rate:
Operating lease	6.65	%	6.20	%
Finance lease	6.50	%	6.50	%

Other Information:

	For the Years Ended June 30,
(In thousands)	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	12,956	$	7,845
Operating cash flows from finance leases	24		34
Financing cash flows from finance leases	193		193