LEASES (Tables)

12 Months Ended

Jun. 30, 2020

Leases [Abstract]

Assets and Liabilities

At June 30, 2020, the Company has the following balances recorded in the balance sheet related to its lease arrangements:

($ in thousands)	Classification	As of June 30, 2020
Assets
Operating leases	Operating lease right-of-use assets	$	5,603
Finance leases	Property and equipment, net	48
Liabilities
Current:
Operating leases	Accrued expenses	1,075
Finance leases	Finance lease obligations and current obligations under long-term debt	42
Non-current:
Operating leases	Operating lease liabilities, non-current	4,749
Finance leases	Finance lease obligations and long-term debt, less current portion	$	18

Lease Costs

Components of lease cost are as follows:

($ in thousands)	Year ended June 30, 2020
Finance lease costs:
Amortization of ROU assets	$	103
Interest on lease assets	10
Operating lease costs*	2,525
Total	$	2,638

* Includes short-term lease and variable lease costs, which are not material.

Supplemental cash flow information and non-cash activity related to our leases are as follows:

($ in thousands)	Year ended June 30, 2020
Supplemental cash flow information:
Cash paid for amounts included in the measurement of lease liabilities
Financing cash flows from finance leases	$	91
Operating cash flows from finance leases	10
Operating cash flows from operating leases	1,784
Non-cash activity
Right-of-use assets obtained in exchange for lease obligations:
Finance lease liabilities	12
Operating lease liabilities	$	3,384

Weighted-average remaining lease term and discount rate for our leases are as follows:

	Year ended June 30, 2020
Weighted-average remaining lease term (years)
Finance leases	1.4
Operating leases	5.2
Weighted-average discount rate
Finance leases	10.0	%
Operating leases	6.8	%

Maturities of Lease Liabilities, Financing Leases

Maturities of lease liabilities by fiscal year for our leases are as follows:

($ in thousands)	Operating Leases			Finance Leases
2021	$	1,440		$	46
2022	1,461			16
2023	1,493			2
2024	1,030			1
2025	627			—
Thereafter	893			—
Total lease payments	$	6,944		$	65
Less: Imputed interest	(1,120		)	(5		)
Present value of lease liabilities	$	5,824		$	60

Maturities of Lease Liabilities, Operating Leases

Maturities of lease liabilities by fiscal year for our leases are as follows:

($ in thousands)	Operating Leases			Finance Leases
2021	$	1,440		$	46
2022	1,461			16
2023	1,493			2
2024	1,030			1
2025	627			—
Thereafter	893			—
Total lease payments	$	6,944		$	65
Less: Imputed interest	(1,120		)	(5		)
Present value of lease liabilities	$	5,824		$	60

Schedule of Future Minimum Rental Payments for Operating Leases

The Company's future minimum lease commitments as of June 30, 2019, under ASC Topic 840 are as follows:

($ in thousands)	Operating Leases		Capital Leases
2020	$	1,326	$	106
2021	1,151		34
2022	1,180		12
2023	1,208		1
2024	859		1
Thereafter	1,550		—
Total minimum lease payments	$	7,274	$	154
Less: interest			(14		)
Present value of minimum lease payments, net			140
Less: current obligations under capital leases			(106		)
Obligations under capital leases, noncurrent			$	34

Schedule of Future Minimum Lease Payments for Capital Leases

The Company's future minimum lease commitments as of June 30, 2019, under ASC Topic 840 are as follows:

($ in thousands)	Operating Leases		Capital Leases
2020	$	1,326	$	106
2021	1,151		34
2022	1,180		12
2023	1,208		1
2024	859		1
Thereafter	1,550		—
Total minimum lease payments	$	7,274	$	154
Less: interest			(14		)
Present value of minimum lease payments, net			140
Less: current obligations under capital leases			(106		)
Obligations under capital leases, noncurrent			$	34

Property and Equipment Used for Operating Lease Rental Program

Property and equipment used for the operating lease rental program consisted of the following:

($ in thousands)	June 30, 2020			June 30, 2019
Cost	$	32,445		36,190
Accumulated depreciation	(27,745		)	(30,473		)
Net	$	4,700		$	5,717