The Company leases office spaces in Boston, Massachusetts, Palm Beach Gardens, Florida and Charleston, South Carolina under operating leases. The Company’s office leases have a remaining term of three to ten years, some of which provide a five-year extension period. As the Company is not reasonably certain to exercise the options, the periods covered by the options are not included in the respective lease terms or the measurement of the respective lease liabilities. The following table summarizes operating and variable lease cost and cash paid for amounts included in the measurement of lease liabilities for the three months ended September 30, 2026 and September 30, 2025:


	For the three months ended September 30,
(in thousands)	2026		2025
Operating lease cost	$	208	$	121
Variable lease cost		32		10
Cash paid for operating leases		214		117

The following table provides details on the leases presented in the condensed consolidated balance sheets as of September 30, 2026 and June 30, 2026:


	September 30, 2026			June 30, 2026
Weighted-average remaining life	7.2 years			3.4 years
Weighted-average discount rate		7.9	%		8.1	%

The following table provides a maturity analysis of the Company's operating lease liabilities as of September 30, 2026:


(in thousands)	September 30, 2026
Remainder of fiscal year 2027		661
For the year ending June 30, 2028		902
For the year ending June 30, 2029		924
For the year ending June 30, 2030		517
For the year ending June 30, 2031		357
Thereafter		1,949
Total lease payments	$	5,310
Imputed interest		(1,272	)
Total lease liabilities	$	4,038