Leases

9 Months Ended

Mar. 31, 2020

Leases [Abstract]

Leases

Leases

The Company has operating leases for current corporate offices and certain equipment. These leases have remaining terms of approximately one year. As of March 31, 2020, the weighted average remaining lease term and weighted average discount rate for operating leases was 0.78 years and 4.92%, respectively.

For the three months ended March 31, 2020, operating lease expense was $0.7 million. For the nine months ended March 31, 2020, operating lease expense was $2.0 million.

Supplemental cash flow information related to operating leases was as follows (in thousands):

	Three Months Ended March 31, 2020		Nine Months Ended March 31, 2020
Operating cash outflows from operating leases	$	716	$	2,156
Right-of-use assets obtained in exchange for lease obligations	$	—	$	—

Maturity of lease liabilities at March 31, 2020 are as follows (in thousands):

Year ended June 30,	Amount
2020 (remaining three months ending June 30, 2020)	$	707
2021	1,192
Total	1,899
Less: imputed interest	(33)
Present value of lease liabilities	$	1,866

Under ASC 840, minimum future operating lease obligations at June 30, 2019 were as follows (in thousands):

Year ending June 30,	Amount
2020	$	2,872
2021	1,140
Total	$	4,012