v3.26.1
Leases
9 Months Ended
Mar. 31, 2026
Leases  
Leases
10.
Leases

The Company incurred lease costs as follows:

 

For the Three Months Ended March 31,

 

 

For the Nine Months Ended March 31,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Operating Lease Cost:

 

 

 

 

 

 

 

 

 

 

 

 

Fixed rent expense

 

$

54

 

 

$

24

 

 

$

121

 

 

$

70

 

Variable rent expense

 

 

2

 

 

 

4

 

 

 

9

 

 

 

11

 

Short-term lease cost

 

 

4

 

 

 

2

 

 

 

8

 

 

 

7

 

Sublease income

 

 

(16

)

 

 

(8

)

 

 

(43

)

 

 

(32

)

Lease cost – other operating expense:

 

$

44

 

 

$

22

 

 

$

95

 

 

$

56

 

 

The maturities of lease liabilities are as follows as of March 31, 2026:

 

Future Lease Maturities

 

Total remaining lease payments

 

$

415

 

Less portion of payments representing interest

 

 

(36

)

Present value of lease payments

 

 

379

 

Less current portion of lease payments

 

 

162

 

Non-current lease liability

 

$

217

 

 

Effective October 1, 2025, the Company executed an amendment to its existing operating lease for office space at the Company's principal executive offices in Centennial, Colorado, which extended the lease term by an additional 27 months. In accordance with ASC 842, the amendment was accounted for as a modification of the existing lease, resulting in a remeasurement of the lease liability and a corresponding adjustment to the right-of-use asset. The modification increased both the right-of-use asset and the lease liability by approximately $345. The impact of this modification is not material to the Company’s financial statements.