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Debt (Tables) | 6 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Components of Debt / Convertible Senior Notes Outstanding | The following table summarizes the components and terms of our secured and unsecured debt as of December 31, 2024 (in thousands):
| Total Capital Capacity |  | Interest Rate Spread (2) |  | Unused Commitment Fees |  | Maturity by Fiscal Year |  | Pledged Collateral (3) |  | Total Outstanding
| Min - Max |  | Weighted Average |  |  |  |
Funding debt |  |  |  |  |  |  |  |  |  |  |  |  |
US warehouse facilities | 4,731,418 |  |  | 1.65% - 2.05% |  | 1.87% |  | 0.00% - 0.75% |  | 2025 - 2027 |  | 1,976,582 |  |  | 1,696,273 |
International warehouse facilities (1) | 598,718 |  |  | 1.25% - 4.25% |  | 1.70% |  | 0.30% - 0.45% |  | 2028 - 2030 |  | 453,846 |  |  | 372,147 |
Variable funding notes | 350,000 |  |  | 1.50% |  |  |  | 0.30% |  | 2032 |  | 66,954 |  |  | 61,336 |
Sales and repurchase agreements |  |  | 5.79% - 6.66% |  |  |  |  |  | 2025 -2029 |  | 66,933 |  |  | 48,751 |
Notes issued by securitization trusts | 4,000,000 |  |  | 4.62% - 11.32% |  | 6.28% |  |  |  | 2028 - 2030 |  | 4,217,842 |  |  | 4,000,000 |
Convertible senior notes: |  |  |  |  |  |  |  |  |  |  |  |  |
2026 Notes |  |  | —% |  |  |  |  |  | 2027 |  |  |  | 248,704 |
2029 Notes |  |  | 0.75% |  |  |  |  |  | 2030 |  |  |  | 920,000 |
Revolving credit facility (4) | 330,000 |  |  | 0.75% - 1.75% |  |  |  | 0.20% |  | 2027 |  |  |  | — |
Total, before unamortized debt issuance costs, premiums and discounts |  |  |  | $ | 7,347,212 |
Less: unamortized debt issuance costs, premiums and discounts (5) |  |  |  | (40,471) |
Total |  |  |  | $ | 7,306,741 |
(1)As of December 31, 2024, international facilities finance the origination of loan receivables in Canada and are denominated in CAD. (2)Reference rates as of December 31, 2024 under our U.S. facilities bear interest at an annual benchmark rate of Secured Overnight Financing Rate (“SOFR”) or an alternative commercial paper rate plus an applicable spread. Reference rates as of December 31, 2024 under our international facilities bear interest at an annual benchmark rate of the Canadian Overnight Repo Rate Average (“CORRA”), Government of Canadian benchmark bond yields, or an alternative commercial paper rate plus an applicable spread. As debt arrangements are renewed, the reference rate and/or spread are subject to change. (3)As of December 31, 2024, represents the unpaid principal balance of loans, pledged as collateral for borrowings in our facilities, except for our sales and repurchase agreements which are collateralized by the retained securitization notes receivables and certificates. (4)This facility bears interest at a rate equal to, either (a) for SOFR borrowing, a SOFR rate determined by reference to the forward-looking term SOFR rate for the interest period, plus an applicable margin of 1.75% per annum or (b) for alternative base rate borrowings, a base rate determined by reference to the highest of (i) the federal funds rate plus 0.50% per annum, (ii) the rate last quoted by the Wall Street Journal as the U.S. prime rate and (iii) the one-month forward-looking term SOFR rate plus 1.00% per annum, in each case, plus an applicable margin of 0.75% per annum. (5)As of December 31, 2024, includes convertible senior notes debt issuance costs for the 2026 and 2029 Notes of $1.1 million and $16.5 million, respectively.
Schedule of the Interest Expense Recognized Related to the Convertible Senior Notes | The following table summarizes the interest expense recognized related to the convertible senior notes (in thousands):
|  | Three Months Ended December 31, |  | Six Months Ended December 31,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Amortization of debt issuance costs (1) |  |  |  |  |  |  |  |
2026 Notes |  | $ | 658 |  |  | $ | 872 |  |  | $ | 1,427 |  |  | $ | 1,745 |
2029 Notes |  | 110 |  |  | — |  |  | 110 |  |  | — |
Total amortization of debt issuance costs |  | $ | 768 |  |  | $ | 872 |  |  | $ | 1,537 |  |  | $ | 1,745 |
Coupon interest expense (1) (2) |  | 227 |  |  | — |  |  | 227 |  |  | — |
Total interest expenses related to the convertible notes |  | $ | 995 |  |  | $ | 872 |  |  | $ | 1,764 |  |  | $ | 1,745 |
(1)Included in our interim condensed consolidated statement of operations and comprehensive income (loss) within other income, net. (2)The coupon interest expense is related to the 2029 Notes.
Schedule of Aggregate Future Maturities | The aggregate future maturities of our funding debt, notes issued by securitization trusts and convertible notes consists of the following (in thousands):
Maturity Fiscal Year |  | December 31, 2024
2025 |  | $ | 340,152 |
2026 |  | 809,118 |
2027 (1) |  | 502,373 |
2028 |  | 1,445,282 |
2029 |  | 2,409,177 |
Thereafter (1) |  | 1,841,110 |
Total |  | $ | 7,347,212 |
Deferred debt issuance costs |  | (40,471) |
Total funding debt, net of deferred debt issuance costs |  | $ | 7,306,741 |
(1)As of December 31, 2024, includes convertible senior notes due 2026 and 2029 with a carrying amounts of $248.7 million and $920.0 million, respectively.

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