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LEASES (Tables)

3 Months Ended

Sep. 30, 2020

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

($ in thousands)

Classification

As of September 30, 2020

Assets

Operating leases

Operating lease ROU assets

5,417

Liabilities

Current:

Operating leases

Accrued expenses

1,097

Non-current:

Operating leases

Operating lease liabilities, non-current

4,469

Components of lease cost are as follows:


($ in thousands)	Three months ended September 30, 2020	Three months ended September 30, 2019

Operating lease costs*	529	701

* 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)	Three months ended September 30, 2020		Three months ended September 30, 2019

Supplemental cash flow information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	346	$	495

Non-cash activity
Right-of-use assets obtained in exchange for lease obligations:
Operating lease liabilities	$	—	$	3,071

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


	Three months ended September 30, 2020
Weighted-average remaining lease term (years)
Operating leases	5.0

Weighted-average discount rate
Operating leases	6.8	%

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


($ in thousands)	Operating Leases
Remainder of 2021	$	1,083
2022	1,461
2023	1,493
2024	1,030
2025	627
Thereafter	893
Total lease payments	$	6,587
Less: Imputed interest	(1,021)
Present value of lease liabilities	$	5,566

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