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Loans Held For Investment | 9 Months Ended
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Mar. 31, 2025
Receivables [Abstract] |
Loans Held For Investment | LOANS HELD FOR INVESTMENT Loans held for investment represent funds advanced under either a term loan or line of credit agreement, through a partnership with a third-party bank (the Originating Bank Partner). Loans held for investment are included in prepaid expenses and other current assets in the accompanying consolidated balance sheets and consisted of the following as of the dates presented (in thousands):
| March 31, 2025 |  | June 30, 2024
Unpaid principal balance (1) | $ | 60,886 |  |  | $ | 44,491 |
Less: Discount at loan purchase, net of amortization | (1,500) |  |  | (1,120) |
Less: Allowance for expected credit losses | (14,030) |  |  | (4,700) |
Loans held for investment, net | $ | 45,356 |  |  | $ | 38,671 |
(1) The outstanding balance of term loans, originated during fiscal 2024, was $0.9 million and $24.2 million as of March 31, 2025 and June 30, 2024, respectively. There were no term loans originated during the three and nine months ended March 31, 2025. Credit Quality Information The Company conducts an eligibility assessment prior to loan origination by the Originating Bank Partner. This process is performed at the invoice level and involves evaluating the invoice repayment likelihood by the respective network members associated with each invoice. Subsequently, the credit quality of these loans is monitored based on the delinquency trends or past due status of the loans held for investment, which are considered the credit quality indicators. Loans held for investment are considered past due if payment is not received within the terms set by the term loan or line of credit agreement. The outstanding balance of loans held for investment considered past due was not material as of March 31, 2025 and June 30, 2024.

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