Leases (Tables)

9 Months Ended

Mar. 31, 2026

The following table presents the classification and location of the Group’s leases on the condensed consolidated

balance sheets (in thousands):


	March 31, 2026	June 30, 2025
Right-of-use assets:
Operating lease right-of-use assets	$3,275	$1,549
Finance lease right-of-use assets	15,081	16,544
	18,356	18,093

Lease liabilities:
Current portion of operating lease obligations	2,491	391
Non-current portion of operating lease obligations	874	1,175
Current portion of finance lease obligations	13,776	15,307
Non-current portion of finance lease obligations	9,049	9,523
	$26,190	$26,396

The following table presents supplemental information for the Group’s non-cancellable leases for the nine months

ended March 31, 2026, and 2025:


	Nine months ended March 31,
	2026	2025
Operating leases:
Weighted-average remaining lease term	1.74	2.83
Weighted-average incremental borrowing rate	13.35%	11.84%
Finance leases:
Weighted-average remaining lease term	1.83	2.08
Weighted-average incremental borrowing rate	15.60%	12.76%

For the three months and nine months ended March 31, 2026, and 2025, the components of the lease costs were as

follows (in thousands):


	Three months ended March 31,		Nine months ended March 31,
	2026	2025	2026	2025
Operating leases:
Operating lease cost charged to profit and loss	$916	$127	$2,355	$414

Finance leases:
Interest on lease liabilities	867	785	2,343	2,273
Depreciation on right-of-use assets	2,131	2,227	6,647	7,293
Total finance lease cost	2,998	3,012	8,990	9,566
Less: Lease cost capitalized to unproved properties	(2,998)	(3,012)	(8,990)	(9,566)
Finance lease cost charged to profit and loss	$—	$—	$—	$—

The following table presents the cash flow information related to lease payments for the nine months ended

March 31, 2026, and 2025 (in thousands):


	Nine months ended March 31,
	2026	2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$3,634	$414
Financing cash flows for finance leases	6,906	6,508
	$10,540	$6,922

As of March 31, 2026, the Group’s undiscounted minimum cash payment obligations for its lease liabilities are as

follows (in thousands):


As of March 31, 2026	Operating leases	Finance leases
Fiscal year ending June 30, 2026 (excluding nine months period from July 1, 2025 to March 31, 2026)	$800	$3,925
Fiscal year ending June 30, 2027	2,097	14,418
Fiscal year ending June 30, 2028	353	7,545
Thereafter	495	—
Total lease payments	3,745	25,888
Less: Imputed interest	(380)	(3,062)
Present value of lease liabilities1	$3,365	$22,826

1 Includes both current and long-term portion of the lease liabilities.

As of March 31, 2026, the Group’s undiscounted minimum cash payment obligations for its lease liabilities are as

follows (in thousands):


As of March 31, 2026	Operating leases	Finance leases
Fiscal year ending June 30, 2026 (excluding nine months period from July 1, 2025 to March 31, 2026)	$800	$3,925
Fiscal year ending June 30, 2027	2,097	14,418
Fiscal year ending June 30, 2028	353	7,545
Thereafter	495	—
Total lease payments	3,745	25,888
Less: Imputed interest	(380)	(3,062)
Present value of lease liabilities1	$3,365	$22,826

1 Includes both current and long-term portion of the lease liabilities.