Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.21.2
Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Sep. 30, 2021
Accounting Policies [Abstract]  
Components of Operating Lease Expense Components of operating lease expense for the three months ended September 30, 2021 and 2020 were as follows:

in thousands

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

September 30,

2021

 

 

 

September 30,

2020

 

Operating lease costs

 

$

449

 

 

 

$

349

 

Variable lease costs

 

 

115

 

 

 

 

98

 

Short term lease costs

 

 

22

 

 

 

 

27

 

Finance lease costs

 

 

5

 

 

 

 

5

 

Total lease costs, net

 

$

591

 

 

 

$

479

 
Schedule of Future Undiscounted Cash Flows for Each of Next Five Years and Thereafter and Reconciliation to Lease Liabilities

The following represents our future undiscounted cash flows for each of the next five years and thereafter and reconciliation to the lease liabilities, as of September 30, 2021:

 

Years ending June 30,

 

Operating

Leases

 

 

2022 (9 months remaining)

 

 

1,315

 

 

2023

 

 

1,646

 

 

2024

 

 

1,692

 

 

2025

 

 

1,669

 

 

2026

 

 

1,244

 

 

Thereafter

 

 

2,102

 

 

Total lease payments

 

 

9,668

 

 

Imputed interest

 

 

(1,357

)

 

 

 

$

8,311

 

(1)

Operating lease liability - current

 

$

1,353

 

(2)

Operating lease liability - long-term

 

 

6,958

 

(3)

 

 

$

8,311

 

(1)

 

(1)

Represents the present value of the capitalized operating lease liabilities as of September 30, 2021.

(2)

Current operating lease liabilities are presented within accrued liabilities on our condensed consolidated balance sheets.

(3)

Long-term operating lease liabilities are presented within other liabilities on our condensed consolidated balance sheets.
Reconciliation of Shares Used in Calculating Basic and Diluted Earnings per Common Shares

A reconciliation of shares used in calculating basic and diluted earnings per common share for the three months ended September 30, 2021 and 2020, is presented below.

 

in thousands

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

September 30,

2021

 

 

 

September 30,

2020

 

Basic weighted average shares outstanding

 

 

11,263

 

 

 

 

7,035

 

Effect of common stock equivalents — stock issuable

   under outstanding equity awards

 

 

746

 

 

 

 

440

 

Diluted weighted average shares outstanding

 

 

12,009

 

 

 

 

7,475