
	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

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


	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.


	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.


	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


	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


	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

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.