LEASES

12 Months Ended

Jun. 30, 2025

Leases [Abstract]

LEASES

LEASES

Lessee accounting

We have operating leases which are primarily real estate leases used for corporate functions, product development, sales, and other purposes. The following table provides supplemental balance sheet information related to the Company's operating leases:

($ in thousands)	Balance Sheet Classification	As of June 30, 2025		As of June 30, 2024
Assets
Operating leases	Operating lease right-of-use assets	$	7,735	$	7,986
Liabilities
Current	Accrued expenses	1,655		1,320
Long-term	Other noncurrent liabilities	8,279		8,457
Total lease liabilities		$	9,934	$	9,777

Components of lease cost are as follows:

	Year ended June 30,
($ in thousands)	2025		2024		2023
Operating lease costs*	$	2,314	$	2,520	$	2,490

* Includes variable lease costs of $0.3 million, $0.4 million, $0.4 million for the years ended June 30, 2025, 2024 and 2023.

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

	Year ended June 30,
($ in thousands)	2025		2024		2023
Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	2,247	$	2,278	$	2,522
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations
Operating lease	$	1,050	$	6,657	$	1,607

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

	Year ended June 30,
	2025		2024
Weighted-average remaining lease term (years)
Operating leases	7.2		7.3
Weighted-average discount rate
Operating leases	8.7	%	8.2	%

Maturities of operating lease liabilities by fiscal year for our leases as of June 30, 2025 are as follows:

($ in thousands)	Amount
2026	$	2,442
2027	2,249
2028	1,654
2029	1,493
2030	978
Thereafter	4,744
Total lease payments	$	13,560
Less: Imputed interest	(3,626)
Present value of lease liabilities	$	9,934

In connection with the acquisition of 32M described in Note 10 - Acquisitions, the Company entered into additional operating leases for office space located in River Falls, Wisconsin and Birmingham, U.K. These leases commenced on December 31, 2022, which expire November 2026. During the year ended June 30, 2025, the River Falls lease was extended through November 2027.

In February 2023, the Company extended its existing Atlanta, Georgia office operating lease for an additional 73-months period including rent free periods.

In May 2023, the Company signed a new lease for its corporate office in Malvern, Pennsylvania. The new lease commenced on February 15, 2024 with a term of 133-months.

Lessor accounting

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

	As of June 30,
($ in thousands)	2025		2024
Cost	$	34,522	$	32,513
Accumulated depreciation	(26,818)		(24,742)
Net	$	7,704	$	7,771

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 June 30, 2025 are disclosed within Note 4, Finance Receivables.

The Company also is the sublessor for office space in Denver, Colorado and Metairie, Louisiana. Sublessor rental income was $0.7 million, $0.8 million, and $0.8 million for the years ended June 30, 2025, 2024, and 2023, respectively.

LEASES

LEASES

Lessee accounting

We have operating leases which are primarily real estate leases used for corporate functions, product development, sales, and other purposes. The following table provides supplemental balance sheet information related to the Company's operating leases:

($ in thousands)	Balance Sheet Classification	As of June 30, 2025		As of June 30, 2024
Assets
Operating leases	Operating lease right-of-use assets	$	7,735	$	7,986
Liabilities
Current	Accrued expenses	1,655		1,320
Long-term	Other noncurrent liabilities	8,279		8,457
Total lease liabilities		$	9,934	$	9,777

Components of lease cost are as follows:

	Year ended June 30,
($ in thousands)	2025		2024		2023
Operating lease costs*	$	2,314	$	2,520	$	2,490

* Includes variable lease costs of $0.3 million, $0.4 million, $0.4 million for the years ended June 30, 2025, 2024 and 2023.

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

	Year ended June 30,
($ in thousands)	2025		2024		2023
Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	2,247	$	2,278	$	2,522
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations
Operating lease	$	1,050	$	6,657	$	1,607

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

	Year ended June 30,
	2025		2024
Weighted-average remaining lease term (years)
Operating leases	7.2		7.3
Weighted-average discount rate
Operating leases	8.7	%	8.2	%

Maturities of operating lease liabilities by fiscal year for our leases as of June 30, 2025 are as follows:

($ in thousands)	Amount
2026	$	2,442
2027	2,249
2028	1,654
2029	1,493
2030	978
Thereafter	4,744
Total lease payments	$	13,560
Less: Imputed interest	(3,626)
Present value of lease liabilities	$	9,934

In connection with the acquisition of 32M described in Note 10 - Acquisitions, the Company entered into additional operating leases for office space located in River Falls, Wisconsin and Birmingham, U.K. These leases commenced on December 31, 2022, which expire November 2026. During the year ended June 30, 2025, the River Falls lease was extended through November 2027.

In February 2023, the Company extended its existing Atlanta, Georgia office operating lease for an additional 73-months period including rent free periods.

In May 2023, the Company signed a new lease for its corporate office in Malvern, Pennsylvania. The new lease commenced on February 15, 2024 with a term of 133-months.

Lessor accounting

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

	As of June 30,
($ in thousands)	2025		2024
Cost	$	34,522	$	32,513
Accumulated depreciation	(26,818)		(24,742)
Net	$	7,704	$	7,771

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 June 30, 2025 are disclosed within Note 4, Finance Receivables.

The Company also is the sublessor for office space in Denver, Colorado and Metairie, Louisiana. Sublessor rental income was $0.7 million, $0.8 million, and $0.8 million for the years ended June 30, 2025, 2024, and 2023, respectively.

LEASES

LEASES

Lessee accounting

We have operating leases which are primarily real estate leases used for corporate functions, product development, sales, and other purposes. The following table provides supplemental balance sheet information related to the Company's operating leases:

($ in thousands)	Balance Sheet Classification	As of June 30, 2025		As of June 30, 2024
Assets
Operating leases	Operating lease right-of-use assets	$	7,735	$	7,986
Liabilities
Current	Accrued expenses	1,655		1,320
Long-term	Other noncurrent liabilities	8,279		8,457
Total lease liabilities		$	9,934	$	9,777

Components of lease cost are as follows:

	Year ended June 30,
($ in thousands)	2025		2024		2023
Operating lease costs*	$	2,314	$	2,520	$	2,490

* Includes variable lease costs of $0.3 million, $0.4 million, $0.4 million for the years ended June 30, 2025, 2024 and 2023.

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

	Year ended June 30,
($ in thousands)	2025		2024		2023
Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	2,247	$	2,278	$	2,522
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations
Operating lease	$	1,050	$	6,657	$	1,607

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

	Year ended June 30,
	2025		2024
Weighted-average remaining lease term (years)
Operating leases	7.2		7.3
Weighted-average discount rate
Operating leases	8.7	%	8.2	%

Maturities of operating lease liabilities by fiscal year for our leases as of June 30, 2025 are as follows:

($ in thousands)	Amount
2026	$	2,442
2027	2,249
2028	1,654
2029	1,493
2030	978
Thereafter	4,744
Total lease payments	$	13,560
Less: Imputed interest	(3,626)
Present value of lease liabilities	$	9,934

In connection with the acquisition of 32M described in Note 10 - Acquisitions, the Company entered into additional operating leases for office space located in River Falls, Wisconsin and Birmingham, U.K. These leases commenced on December 31, 2022, which expire November 2026. During the year ended June 30, 2025, the River Falls lease was extended through November 2027.

In February 2023, the Company extended its existing Atlanta, Georgia office operating lease for an additional 73-months period including rent free periods.

In May 2023, the Company signed a new lease for its corporate office in Malvern, Pennsylvania. The new lease commenced on February 15, 2024 with a term of 133-months.

Lessor accounting

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

	As of June 30,
($ in thousands)	2025		2024
Cost	$	34,522	$	32,513
Accumulated depreciation	(26,818)		(24,742)
Net	$	7,704	$	7,771

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 June 30, 2025 are disclosed within Note 4, Finance Receivables.

The Company also is the sublessor for office space in Denver, Colorado and Metairie, Louisiana. Sublessor rental income was $0.7 million, $0.8 million, and $0.8 million for the years ended June 30, 2025, 2024, and 2023, respectively.