6. LEASES

During our fiscal year ended June 30, 2026, we leased our office facilities under non-cancelable operating leases that expire on various dates through the fiscal year 2033. On September 29, 2025, the Company entered into a lease agreement in Sunnyvale, California. The term of the lease expires on March 31, 2027 and requires an average monthly rent of approximately $21,000 for 18 months from the lease commencement date in October 2025. In January 2026, the Company entered into a sublease agreement as a sublessor for a certain office space and which sublease agreement is set to expire in January 2031. In April 2026, we modified one of our existing operating leases, which resulted in a decrease in operating lease ROU assets and operating lease liabilities in the amount of approximately $47,000 during the fiscal year ended June 30, 2026. All of our office leases are classified as operating leases with lease expense recognized on a straight-line basis over the lease term. Lease ROU assets and liabilities are recognized on the commencement date at the present value of lease payments over the lease term. As our leases do not provide an implicit rate, we use our incremental borrowing rate based on information available at the commencement date to determine the present value of lease payments.

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The following table presents information about the weighted average lease term and discount rate as follows:

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The following table presents information about leases on our consolidated statement of operations (in thousands):

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The following table presents supplemental cash flow information about our leases (in thousands):

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As of June 30, 2026, remaining maturities of lease liabilities are as follows (in thousands):

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