v3.22.2.2
Property and Equipment
 12 Months Ended
Jun. 30, 2022
Property, Plant and Equipment [Abstract]  
Property and equipment

Note 6. Property and equipment

 

Property and equipment consisted of the following as of June 30, 2022 and 2021 (in thousands):

 

   June 30,
2022		   June 30,
2021		   Estimated
Useful Life
Land  $1,000   $1,000   n/a
Building   3,000    3,000   11 years
Equipment   57,750    35,120   2-10 years
Leasehold Improvements   4,715    1,946   *
Computer equipment and software   1,966    963   3-5 years
Total   68,431    42,029    
Less: Accumulated depreciation   (17,274)   (11,299)   
Total  $51,157   $30,730    

 

(*)Leasehold improvements which are amortized on a straight-line basis over the term of the lease or the estimated useful lives, whichever is shorter.

 

The Company recorded depreciation expense of $6.8 million and $4.6 million for the years ended June 30, 2022 and 2021, respectively.

 

As of June 30, 2022, equipment with a net book value totaling $14.5 million had not been placed in service and therefore was not depreciated during the period. As of June 30, 2021, fixed assets with a net book value totaling $4.9 million had not been placed in service and therefore was not depreciated during the period.