Note 14 - Leases

6 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Lessee, Leases [Text Block]

NOTE 14 - LEASES

The Company leases certain manufacturing facilities along with a small office space, several forklifts, several small tooling items, and various items of office equipment. All but two of the Company’s leases are operating leases. Leases have a remaining term of one to seven years some of which have an option to renew. The Company does not assume renewals in determining the lease term unless the renewals are deemed reasonably certain. The lease agreements do not contain any material residual guarantees or material variable lease payments.

The Company has periodically entered into short-term operating leases with an initial term of twelve months or less. The Company elected not to record these leases on the balance sheet. The rent expense for these leases was immaterial for December 31, 2025, and 2024.

The Company has certain leases that contain lease and non-lease components and has elected to utilize the practical expedient to account for these components together as a single lease component.

Lease expense is recognized on a straight-line basis over the lease term. The Company used its incremental borrowing rate when determining the present value of lease payments.

	Three Months Ended				Six Months Ended
	December 31				December 31
(In thousands)	2025		2024		2025		2024
Operating lease cost	$	2,222	$	1,610	$	4,097	$	3,231
Financing lease cost:
Amortization of right of use assets		-		73		-		145
Interest on lease liabilities		-		10		-		22
Variable lease cost		-		-		-		7
Sublease income		-		-		-		(39	)
Total lease cost	$	2,222	$	1,693	$	4,097	$	3,366

Supplemental Cash Flow Information:	Six Months Ended
	December 31
(In thousands)	2025		2024
Cash flows from operating leases
Fixed payments - operating cash flows	$	3,900	$	3,298
Liability reduction - operating cash flows	$	3,405	$	2,813
Assets obtained in exchange for operating lease obligations	$	18,568	$	2,441
Cash flows from finance leases
Interest - operating cash flows	$	-	$	21
Repayments of principal portion - financing cash flows	$	-	$	168

Operating Leases:	December 31,			June 30,
	2025			2025
Total operating right-of-use assets	$	30,080		$	17,187
Accrued expenses (Current liabilities)	$	7,650		$	6,037
Long-term operating lease liability		23,247			12,047
Total operating lease liabilities	$	30,897		$	18,084
Weighted Average remaining Lease Term (in years)		6.07			3.49
Weighted Average Discount Rate		5.58	%		5.70	%

Maturities of Lease Liability:	Operating Lease Liabilities			Finance Lease Liabilities		Operating Subleases		Net Lease Commitments
2026	$	7,650		$	-	$	-	$	7,650
2027		8,296			-		-		8,296
2028		4,479			-		-		4,479
2029		3,888			-		-		3,888
2030		2,751			-		-		2,751
Thereafter		9,635			-		-		9,635
Total lease payments	$	36,699		$	-	$	-	$	36,699
Less: Interest		(5,802	)		-				(5,802	)
Present Value of Lease Liabilities	$	30,897		$	-			$	30,897