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Debt (Tables)
 6 Months Ended
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 - MaxWeighted Average
Funding debt
US warehouse facilities
4,731,418 
1.65% - 2.05%
1.87%
0.00% - 0.75%
2025 - 20271,976,582 1,696,273 
International warehouse facilities (1)
598,718 
1.25% - 4.25%
1.70%
0.30% - 0.45%
2028 - 2030453,846 372,147 
Variable funding notes
350,000 1.50%0.30%203266,954 61,336 
Sales and repurchase agreements
5.79% - 6.66%
2025 -202966,933 48,751 
Notes issued by securitization trusts
4,000,000 
4.62% - 11.32%
6.28%2028 - 20304,217,842 4,000,000 
Convertible senior notes:
2026 Notes—%2027248,704 
2029 Notes0.75%2030920,000 
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,
2024202320242023
Amortization of debt issuance costs (1)
2026 Notes$658 $872 $1,427 $1,745 
2029 Notes110 — 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 YearDecember 31, 2024
2025$340,152 
2026809,118 
2027 (1)
502,373 
20281,445,282 
20292,409,177 
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.