LEASES

3 Months Ended

Sep. 30, 2021

Leases [Abstract]

LEASES

LEASES

Lessee Accounting

The Company has operating leases for office space, warehouses, and office equipment. At September 30, 2021, the Company has the following balances recorded in the balance sheet related to its lease arrangements:

($ in thousands)	Balance Sheet Classification	As of September 30, 2021		As of June 30, 2021
Assets:	Operating lease right-of-use assets	$	3,240	$	3,049
Liabilities:
Current	Accrued expenses	$	1,430	$	1,166
Long-term	Operating lease liabilities, non-current	3,535		3,645
Total lease liabilities		$	4,965	$	4,811

Components of lease cost are as follows:

($ in thousands)	Three months ended September 30, 2021	Three months ended September 30, 2020
Operating lease costs*	442	529

* 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, 2021		Three months ended September 30, 2020
Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	480	$	346
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations:
Operating lease liabilities	$	471	$	—

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

($ in thousands)	Operating Leases
2022	$	1,287
2023	1,758
2024	1,029
2025	707
2026	628
Thereafter	265
Total lease payments	$	5,674
Less: Imputed interest	(709)
Present value of lease liabilities	$	4,965

Lessor Accounting

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

($ in thousands)	September 30, 2021		June 30, 2021
Cost	$	26,664	26,753
Accumulated depreciation	(24,626)		(24,487)
Net	$	2,038	$	2,266

The Company’s net investment in sales-type leases (carrying value of lease receivables) and the future minimum amounts to be collected on these lease receivables as of September 30, 2021 are disclosed within Note 6 - Finance Receivables.

LEASES

LEASES

Lessee Accounting

The Company has operating leases for office space, warehouses, and office equipment. At September 30, 2021, the Company has the following balances recorded in the balance sheet related to its lease arrangements:

($ in thousands)	Balance Sheet Classification	As of September 30, 2021		As of June 30, 2021
Assets:	Operating lease right-of-use assets	$	3,240	$	3,049
Liabilities:
Current	Accrued expenses	$	1,430	$	1,166
Long-term	Operating lease liabilities, non-current	3,535		3,645
Total lease liabilities		$	4,965	$	4,811

Components of lease cost are as follows:

($ in thousands)	Three months ended September 30, 2021	Three months ended September 30, 2020
Operating lease costs*	442	529

* 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, 2021		Three months ended September 30, 2020
Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	480	$	346
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations:
Operating lease liabilities	$	471	$	—

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

($ in thousands)	Operating Leases
2022	$	1,287
2023	1,758
2024	1,029
2025	707
2026	628
Thereafter	265
Total lease payments	$	5,674
Less: Imputed interest	(709)
Present value of lease liabilities	$	4,965

Lessor Accounting

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

($ in thousands)	September 30, 2021		June 30, 2021
Cost	$	26,664	26,753
Accumulated depreciation	(24,626)		(24,487)
Net	$	2,038	$	2,266

The Company’s net investment in sales-type leases (carrying value of lease receivables) and the future minimum amounts to be collected on these lease receivables as of September 30, 2021 are disclosed within Note 6 - Finance Receivables.