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Loans Held For Investment | 6 Months Ended
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Dec. 31, 2025
Receivables [Abstract] |
Loans Held For Investment | LOANS HELD FOR INVESTMENT Loans held for investment represent funds advanced under a 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):
| December 31, 2025 |  | June 30, 2025
Unpaid principal balance | $ | 62,079 |  |  | $ | 61,938 |
Less: Discount at loan purchase, net of amortization | (1,785) |  |  | (1,527) |
Less: Allowance for expected credit losses | (13,413) |  |  | (14,853) |
Loans held for investment, net | $ | 46,881 |  |  | $ | 45,558 |
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. Below is a summary of the loans held for investment by class (i.e., past due status) as of the dates presented (in thousands):
| December 31, 2025 |  | June 30, 2025
Current and less than 30 days past due | $ | 55,289 |  |  | $ | 55,540 |
30 ~ 59 days past due | 1,747 |  |  | 1,471 |
60 ~ 89 days past due | 1,535 |  |  | 1,461 |
90 ~ 119 days past due | 1,541 |  |  | 1,685 |
Over 119 days past due | 181 |  |  | 254 |
Total | $ | 60,293 |  |  | $ | 60,411 |
Allowance for Credit Losses Below is a summary of the changes in allowance for credit losses presented (in thousands):
| Three Months Ended December 31, |  | Six Months Ended December 31,
| 2025 |  | 2024 |  | 2025 |  | 2024
Balance, beginning | $ | 14,653 |  |  | $ | 6,230 |  |  | $ | 14,853 |  |  | $ | 4,700 |
Provision for expected credit losses | 3,128 |  |  | 11,349 |  |  | 7,035 |  |  | 16,622 |
Charge-off amounts | (4,739) |  |  | (4,315) |  |  | (9,103) |  |  | (8,212) |
Recoveries collected | 371 |  |  | 76 |  |  | 628 |  |  | 230 |
Balance, ending | $ | 13,413 |  |  | $ | 13,340 |  |  | $ | 13,413 |  |  | $ | 13,340 |
The provision for expected credit losses related to loans held for investment decreased during the three and six months ended December 31, 2025 compared to the same prior year periods due to improvements in delinquency performance, a decrease to estimated loss rates in the current period and an increase to estimated loss rates during the prior year periods, which were partially offset by portfolio growth. The charge-off amounts related to loans held for investment increased during the three and six months ended December 31, 2025 compared to the same prior periods due to portfolio growth.

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