LEASES (Tables)

9 Months Ended

Mar. 31, 2023

Leases [Abstract]

Assets and Liabilities

At March 31, 2023, the Company has the following balances recorded in the balance sheet related to its lease arrangements:

($ in thousands)	Balance Sheet Classification	As of March 31, 2023		As of June 30, 2022
Assets:	Operating lease right-of-use assets	$	2,799	$	2,370
Liabilities:
Current	Accrued expenses	$	1,445	$	1,538
Long-term	Operating lease liabilities, non-current	2,641		2,366
Total lease liabilities		$	4,086	$	3,904

Lease Costs

Components of lease cost are as follows:

($ in thousands)	Three months ended March 31, 2023	Three months ended March 31, 2022
Operating lease costs*	691	462

($ in thousands)	Nine months ended March 31, 2023	Nine months ended March 31, 2022
Operating lease costs*	1,778	1,347

* 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)	Nine months ended March 31, 2023		Nine months ended March 31, 2022
Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	1,793	$	1,257
Non-cash activity:
Lease assets obtained in exchange for new operating lease liabilities	$	—	$	471

Maturities of Lease Liabilities, Operating Leases

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

($ in thousands)	Operating Leases
Remainder of 2023	$	548
2024	1,449
2025	1,127
2026	1,048
2027	440
Thereafter	$	—
Total lease payments	$	4,612
Less: Imputed interest	(526)
Present value of lease liabilities	$	4,086

Property, Plant, and Equipment, Lessor Asset under Operating Lease

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

($ in thousands)	March 31, 2023		June 30, 2022
Cost	$	28,182	25,242
Accumulated depreciation	(22,915)		(22,914)
Net	$	5,267	$	2,328