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Income Taxes (Tables) | 12 Months Ended
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Jun. 30, 2026
Income Taxes |
Schedule of deferred tax assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30,
​ | ​ ​ ​ | 2026 | ​ ​ ​ | 2025
​ | ​ | (In thousands)
Deferred tax assets | ​ | ​ | ​ | ​ | ​ | ​
Net operating loss carryforward | ​ | $ | 13,524 | ​ | $ | 13,888
Reserves | ​ |  | 10,545 | ​ |  | 9,154
Accrued expenses | ​ |  | 11,916 | ​ |  | 15,441
Stock compensation expense | ​ |  | 7,320 | ​ |  | 6,881
Other assets | ​ |  | 2,170 | ​ |  | 3,308
Convertible debt | ​ |  | 9,085 | ​ |  | 4,059
Deferred revenue | ​ |  | 122 | ​ |  | 260
Capitalized software and website development costs | ​ | ​ | — | ​ | ​ | 4,680
Lease liability | ​ | ​ | 2,659 | ​ | ​ | 11,136
Total deferred tax assets | ​ |  | 57,341 | ​ |  | 68,807
Deferred tax liabilities | ​ | ​ | ​ | ​ | ​ | ​
Capitalized curriculum development | ​ |  | (9,758) | ​ |  | (10,071)
Capitalized software and website development costs | ​ |  | (24,023) | ​ |  | —
Property and equipment | ​ |  | (18,259) | ​ |  | (11,460)
Right-of-use assets | ​ | ​ | (1,755) | ​ | ​ | (3,832)
Returned materials | ​ |  | (2,220) | ​ |  | (2,722)
Purchased intangibles | ​ | ​ | (6,943) | ​ | ​ | (6,717)
Total deferred tax liabilities | ​ |  | (62,958) | ​ |  | (34,802)
Net deferred tax (liability) asset before valuation allowance | ​ |  | (5,617) | ​ |  | 34,005
Valuation allowance | ​ |  | (7,416) | ​ |  | (7,628)
Net deferred tax (liability) asset | ​ | $ | (13,033) | ​ | $ | 26,377
Reported as: | ​ | ​ | ​ | ​ | ​ | ​
Long-term deferred tax (liability) asset | ​ | $ | (13,033) | ​ | $ | 26,377
Schedule of components of income before income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended June 30,
​ | ​ ​ ​ | 2026 | ​ ​ ​ | 2025 | ​ ​ ​ | 2024
​ | ​ | (In thousands)
Domestic | ​ | $ | 435,108 | ​ | $ | 374,932 | ​ | $ | 262,802
Foreign | ​ |  | 5,850 | ​ |  | 6,016 | ​ |  | 5,863
Total income before income taxes | ​ | $ | 440,958 | ​ | $ | 380,948 | ​ | $ | 268,665
Schedule of reconciliation of provision for income taxes to the income tax from applying the statutory rate | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended June 30, 2026 | ​
​ | ​ | Amount | ​ | Percent | ​
​ | ​ | (In thousands)
U.S. Federal Statutory Tax Rate | ​ | $ | 92,601 | ​ | 21.0 | %
State and Local Income Tax Effects, net of federal tax benefit (a) |  | ​ | 14,705 | ​ | 3.3 | ​
Foreign Tax Effects |  | ​ | (18) | ​ | - | ​
Tax Credits | ​ | ​ | ​ | ​ | ​ | ​
Research and development tax credits |  | ​ | (2,866) | ​ | (0.7) | ​
Changes in Valuation Allowance |  | ​ | 31 | ​ | - | ​
Nontaxable or Nondeductible Items |  | ​ | ​ | ​ | ​ | ​
Stock-based compensation |  | ​ | (20,007) | ​ | (4.5) | ​
Non-deductible compensation |  | ​ | 17,329 | ​ | 3.9 | ​
Other |  | ​ | 85 | ​ | - | ​
Changes in Unrecognized Tax Benefits |  | ​ | 583 | ​ | 0.2 | ​
Other Adjustments |  | ​ | 322 | ​ | 0.1 | ​
Effective Tax Rate | ​ | $ | 102,765 | ​ | 23.3 | %
(a) State taxes in California, Texas, and Virginia made up the majority (greater than 50 percent) of the tax effect in this category. ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended June 30, | ​
​ | ​ ​ ​ | 2025 | ​ ​ ​ | 2024 | ​ ​ ​
U.S. federal tax at statutory rates | ​ | 21.0 | % | 21.0 | %
Lobbying |  | - | ​ | 0.1 | ​
Non-deductible compensation | ​ | 2.7 | ​ | 0.8 | ​
State taxes, net of federal benefit |  | 3.4 | ​ | 3.2 | ​
Research and development tax credits |  | (1.2) | ​ | (1.5) | ​
Effects of foreign operations |  | - | ​ | 0.1 | ​
Reserve for unrecognized tax benefits |  | 0.4 | ​ | 0.5 | ​
Noncontrolling interests |  | - | ​ | - | ​
Other |  | (0.2) | ​ | 0.1 | ​
Stock-based compensation | ​ | (1.7) | ​ | (0.3) | ​
Provision for income taxes |  | 24.4 | % | 24.0 | %
Schedule of related components of the income tax expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended June 30,
​ | ​ | 2026 | ​ | 2025 | ​ | 2024
​ | ​ | (In thousands)
Current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | $ | 47,321 | ​ | $ | 91,696 | ​ | $ | 52,678
State | ​ |  | 14,213 | ​ |  | 17,921 | ​ |  | 7,660
Foreign | ​ |  | 1,238 | ​ |  | 1,173 | ​ |  | 1,254
Total current | ​ |  | 62,772 | ​ |  | 110,790 | ​ |  | 61,592
Deferred: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ |  | 38,372 | ​ |  | (16,047) | ​ |  | (667)
State | ​ |  | 1,621 | ​ |  | (1,736) | ​ |  | 3,557
Total deferred | ​ |  | 39,993 | ​ |  | (17,783) | ​ |  | 2,890
Total income tax expense | ​ | $ | 102,765 | ​ | $ | 93,007 | ​ | $ | 64,482
​
Schedule of unrecognized tax benefits | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended June 30,
​ | ​ | 2026 | ​ | 2025 | ​ | 2024
​ | ​ | (In thousands)
Balance at beginning of the year | ​ | $ | 5,514 | ​ | $ | 4,286 | ​ | $ | 3,156
Additions for prior year tax positions | ​ |  | 277 | ​ |  | 486 | ​ |  | 591
Additions for current year tax positions | ​ |  | 1,236 | ​ |  | 1,635 | ​ |  | 1,205
Reductions for prior year tax positions | ​ | ​ | (1,047) | ​ | ​ | (893) | ​ | ​ | (666)
Balance at end of the year | ​ | $ | 5,980 | ​ | $ | 5,514 | ​ | $ | 4,286

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