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Stockholders' Equity | 3 Months Ended
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Sep. 30, 2025
Stockholders' Equity |
Stockholders' Equity | 9. Stockholders’ Equity ​ Stock-based Compensation ​ As of September 30, 2025, we maintained the Amended and Restated 2012 Incentive Award Plan (the “OSI Plan”) as a stock-based employee compensation plan. ​ We recorded stock-based compensation expense in the consolidated statements of operations as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30,
​ |  | 2024 |  | 2025
Cost of goods sold | ​ | $ | 244 | ​ | $ | 285
Selling, general and administrative | ​ | ​ | 6,024 | ​ | ​ | 5,753
Research and development | ​ | ​ | 154 | ​ | ​ | 161
Stock-based compensation expense | ​ | $ | 6,422 | ​ | $ | 6,199
​ As of September 30, 2025, total unrecognized compensation cost related to share-based compensation grants under the OSI Plan were estimated at $0.9 million for stock options and $19.9 million for restricted stock units (“RSUs”). We expect to recognize these costs over a weighted average period of 1.8 years with respect to the stock options and 2.2 years with respect to the RSUs. ​ The following summarizes stock option activity during the three months ended September 30, 2025: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Average | ​ | Weighted-Average | ​ | Aggregate
​ | ​ | Number of | ​ | Exercise | ​ | Remaining Contractual | ​ | Intrinsic Value
​ |  | Options |  | Price |  | Term |  | (in thousands)
Outstanding at June 30, 2025 |  | 60,253 |  | $ | 121.41 |  | ​ | ​ | ​ | ​
Granted |  | — | ​ | ​ | — | ​ | ​ | ​ | ​ | ​
Exercised |  | (2,215) | ​ | ​ | 98.27 | ​ | ​ | ​ | ​ | ​
Expired or forfeited |  | — | ​ | ​ | — | ​ | ​ | ​ | ​ | ​
Outstanding at September 30, 2025 |  | 58,038 | ​ | $ | 122.29 | ​ | 7.7 years | ​ | $ | 7,368
Exercisable at September 30, 2025 | ​ | 20,387 | ​ | $ | 95.92 |  | 6.5 years | ​ | $ | 3,126
​ The following summarizes RSU award activity during the three months ended September 30, 2025: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted-
​ | ​ | ​ | ​ | Average
​ |  | Shares |  | Fair Value
Nonvested at June 30, 2025 |  | 355,396 | ​ | $ | 116.34
Granted |  | 213,773 | ​ | ​ | 223.88
Vested |  | (313,580) | ​ | ​ | 165.91
Forfeited |  | (1,507) | ​ | ​ | 110.42
Nonvested at September 30, 2025 |  | 254,082 | ​ | $ | 145.67
​ As of September 30, 2025, there were approximately 1.6 million shares available for grant under the OSI Plan. Under the terms of the OSI Plan, RSUs granted from the pool of shares available for grant reduce the pool by 1.87 shares for each award granted. RSUs forfeited and returned to the pool of shares available for grant increase the pool by 1.87 shares for each award forfeited. ​ We granted 54,563 and 48,185 performance-based RSUs during the three months ended September 30, 2024 and 2025, respectively. These performance-based RSU awards are contingent on the achievement of certain performance metrics. The payout related to these awards can range from zero to 280% of the original number of shares or units awarded. Compensation cost associated with these performance-based RSUs are recognized based on the estimated number of shares that we ultimately expect will vest. If the estimated number of shares to vest is revised in the future, then stock-based compensation expense will be adjusted accordingly. ​ Stock Repurchase Program ​ In September 2022, our Board of Directors increased the stock repurchase authorization to a total of 2 million shares. This program does not expire unless our Board of Directors acts to terminate the program. The timing and actual numbers of shares to be purchased under this program will depend on a variety of factors, including stock price, general business and market conditions and other investment opportunities. Repurchases may be made from time to time under the program through open-market purchases or privately-negotiated transactions at our discretion. Upon repurchase, the shares are restored to the status of authorized but unissued shares, and we record them in our consolidated financial statements as a reduction in the number of shares of common stock issued and outstanding, with the excess purchase price over par value recorded as a reduction of additional paid-in capital. If additional paid-in capital were to be reduced to zero, we would record the remainder of the excess purchase price over par value as a reduction of retained earnings. ​ During the three months ended September 30, 2025, we did not repurchase any shares of common stock. As of September 30, 2025, there were 1,190,556 shares remaining available for repurchase under the authorized repurchase program. ​ Dividends ​ We have not paid any dividends since the consummation of our initial public offering in 1997 and we do not currently intend to pay any dividends in the foreseeable future. Our Board of Directors will determine the payment of future dividends, if any. Certain of our current bank credit facilities restrict the payment of dividends and future borrowings may contain similar restrictions.

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