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Non-marketable Equity Securities
 12 Months Ended
Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Non-marketable Equity Securities
Note 3. Non-marketable Equity Securities

Our non-marketable equity securities, included in other assets in the consolidated balance sheets, consist of investments in privately held companies without readily determinable fair values. The following table shows our non-marketable equity securities that were measured using the measurement alternative (in thousands):

June 30,
20252024
Non-marketable equity securities under measurement alternative:
Opening gross investment balance
$66,217 $1,728 
Investment made during the year
56,000 64,489
Cumulative impairment adjustment
(11,600)(11,600)
Carrying value
$110,617 $54,617 

We performed qualitative assessments to identify impairment indicators and no impairment was recognized during fiscal year ended June 30, 2025. During the fiscal year ended June 30, 2024, we recognized an impairment of $11.6 million and no impairment was recognized during fiscal year ended June 30, 2023.