DEBT AND OTHER FINANCING ARRANGEMENTS

6 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

DEBT AND OTHER FINANCING ARRANGEMENTS

DEBT AND OTHER FINANCING ARRANGEMENTS

The Company's debt and other financing arrangements as of December 31, 2024 and June 30, 2024 consisted of the following:

	As of December 31,		As of June 30,
($ in thousands)	2024		2024
JPMorgan Credit Facility*	$	37,063	$	37,625
Other obligations	24		34
Less: unamortized issuance costs and debt discount	(75)		(109)
Total	37,012		37,550
Less: debt and other financing arrangements, current	(1,458)		(1,266)
Debt and other financing arrangements, noncurrent	$	35,554	$	36,284

* See discussion below on amendment to the JPMorgan Credit Facility.

JPMorgan Credit Facility

On March 17, 2022, the Company entered into an amended and restated credit agreement with JPMorgan Chase Bank, N.A. which provides for a $15 million secured revolving credit facility (the “Amended Revolving Facility”) and a $25 million

secured term facility (the “Amended Secured Term Facility” and together with the Amended Revolving Facility, the “Amended JPMorgan Credit Facility”), and fully replaced our previous 2021 JPMorgan credit facility.

On December 1, 2022, the Company entered into an amendment to the Amended and Restated Credit Agreement, dated as of March 17, 2022, which, among other things, amended the definition of the Company’s EBITDA under the Credit Agreement. On December 1, 2022, the Company borrowed an additional $25 million under the Amended JPMorgan Credit Facility, including $15 million from the revolving credit facility and $10 million from the term facility. No issuance costs were capitalized in connection with this amendment. As of December 31, 2024, the weighted-average interest rate for the Amended JPMorgan Credit Facility is approximately 8.7%.

The Amended JPMorgan Credit Facility includes customary representations, warranties and covenants, and acceleration, indemnity and events of default provisions, including, among other things, two financial covenants. One financial covenant requires the Company to maintain, at all times, a total leverage ratio of not more than 3.00 to 1.00 on the last day of any fiscal quarter. The other financial covenant is conditional on a material acquisition occurring: if a material acquisition occurs, the Company is required to maintain a total leverage ratio not greater than 4.00 to 1.00 for the next four fiscal quarters following the material acquisition. The Company was in compliance with its financial covenants for the Amended JPMorgan Credit Facility as of December 31, 2024.

See Note 16 - Subsequent Events for information on the refinancing of the JPMorgan Credit Facility that occurred in January 2025.