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Balance Sheet Components | 12 Months Ended
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Jun. 30, 2025
Balance Sheet Related Disclosures [Abstract] |
Balance Sheet Components | Note 6. Balance Sheet Components The following tables provide details of the selected balance sheet items (in thousands): Cash, Cash Equivalents, and Restricted Cash
| June 30,
| 2025 |  | 2024
Cash and cash equivalents | $ | 5,169,911 |  |  | $ | 1,669,766 |
Restricted cash included in other assets | 2,390 |  |  | 507 |
Total cash, cash equivalents, and restricted cash | $ | 5,172,301 |  |  | $ | 1,670,273 |
Allowance for credit losses We have established an allowance for credit losses. The allowance for credit losses is based upon the age of outstanding receivables, credit risk of specific customers, historical trends related to past losses and other relevant factors. Accounts receivable allowances as of June 30, 2025, 2024, and 2023 consisted of the following:
| Beginning Balance |  | Credit Loss Recoveries, net |  | Write-offs |  | Ending Balance
Allowance for credit losses |  |  |  |  |  |  |
Year Ended June 30, 2025 | $ | 73 |  |  | $ | (4) |  |  | $ | (69) |  |  | $ | — |
Year Ended June 30, 2024 | $ | 82 |  |  | $ | (9) |  |  | $ | — |  |  | $ | 73 |
Year Ended June 30, 2023 | $ | 1,753 |  |  | $ | (13) |  |  | $ | (1,659) |  |  | $ | 82 |
Inventories
| June 30,
| 2025 |  | 2024
Finished goods | $ | 3,465,352 |  |  | $ | 3,312,768 |
Work in process | 674,613 |  |  | 450,993 |
Purchased parts and raw materials | 540,410 |  |  | 569,268 |
Total inventories | $ | 4,680,375 |  |  | $ | 4,333,029 |
During the fiscal years ended June 30, 2025, 2024, and 2023, we recorded write down adjustments for excess and obsolete inventory and lower of cost and net realizable value adjustments to cost of sales totaling $232.0 million, $83.0 million, and $30.8 million, respectively. Property, Plant, and Equipment, net
| June 30,
| 2025 |  | 2024
Land | $ | 162,848 |  |  | $ | 150,137 |
Buildings | 182,466 |  |  | 163,764 |
Machinery and equipment | 111,331 |  |  | 156,496 |
Building and leasehold improvements | 121,665 |  |  | 72,075 |
Furniture and fixtures | 36,268 |  |  | 46,241 |
Software | 7,117 |  |  | 24,363 |
Construction in progress | 1,038 |  |  | 14,828 |
Property, plant, and equipment, gross | 622,733 |  |  | 627,904 |
Accumulated depreciation and amortization | (118,245) |  |  | (213,896) |
Property, plant, and equipment, net | $ | 504,488 |  |  | $ | 414,008 |
Depreciation expense for the fiscal years ended June 30, 2025, 2024, and 2023 was $41.0 million, $30.1 million, and $26.9 million, respectively. During the fiscal year ended June 30, 2025, $128.3 million of fully depreciated assets were written off from the cost and accumulated depreciation amounts in the table above. These assets had a zero net book value, thus, no gain or loss was recognized on the consolidated statements of operations from the write off. Other Assets
| June 30,
| 2025 |  | 2024
Non-current accounts receivable | $ | 166,405 |  |  | $ | — |
Operating lease right-of-use asset | 293,692 |  |  | 34,566 |
Long-term investments | 112,367 |  |  | 60,996 |
Deferred service costs, non-current | 10,713 |  |  | 11,035 |
Deposits | 4,980 |  |  | 4,508 |
Restricted cash, non-current | 2,390 |  |  | 507 |
Other | 14,324 |  |  | 3,340 |
Total other assets | $ | 604,871 |  |  | $ | 114,952 |
Accrued Liabilities
| June 30,
| 2025 |  | 2024
Accrued payroll and related expenses | $ | 82,156 |  |  | $ | 62,006 |
Customer deposits | 260,131 |  |  | 46,942 |
Accrued professional fees | 8,098 |  |  | 1,699 |
Accrued warranty costs | 9,753 |  |  | 10,009 |
Accrued cooperative marketing expenses | 26,775 |  |  | 15,967 |
Operating lease liability | 21,189 |  |  | 9,248 |
Accrued Interest - Convertible Notes | 27,701 |  |  | — |
Customer-related liabilities | 32,858 |  |  | 42,370 |
Input Tax Payable | 39,161 |  |  | 14,064 |
Other | 57,815 |  |  | 57,369 |
Total accrued liabilities | $ | 565,637 |  |  | $ | 259,674 |
Product Warranties
| Years Ended June 30,
| 2025 |  | 2024 |  | 2023
Balance, beginning of the year | $ | 17,815 |  |  | $ | 14,859 |  |  | $ | 12,137 |
Provision for warranty | 59,164 |  |  | 52,253 |  |  | 35,407 |
Costs utilized | (56,572) |  |  | (49,204) |  |  | (33,784) |
Change in estimated liability for pre-existing warranties | (3,453) |  |  | (93) |  |  | 1,099 |
Balance, end of the year | $ | 16,954 |  |  | $ | 17,815 |  |  | $ | 14,859 |
Current portion | 9,753 |  |  | 10,009 |  |  | 9,079 |
Non-current portion | $ | 7,201 |  |  | $ | 7,806 |  |  | $ | 5,780 |
The portion of the accrued warranty costs expected to be incurred within the next 12 months is included within accrued liabilities, while the remaining balance is included within other long-term liabilities on the consolidated balance sheets Offsetting of Financial Assets and Liabilities We have agreements with certain contract manufacturers that allow us to offset receivables and payables with those counterparties. As of June 30, 2025, the gross amount recorded within our consolidated balance sheets in prepaid expenses and other current assets and accounts payable was $16.2 million and $40.0 million, respectively. As of June 30, 2024, the gross amount recorded within our consolidated balance sheets in prepaid expenses and other current assets and accounts payable was $14.0 million and $38.3 million, respectively.

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