XML 56 R39.htm IDEA: XBRL DOCUMENT
v3.26.1

Equity-Based Compensation (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity | The following summary sets forth the stock option activity under the 2019 Plan:
| Options Outstanding
| Number of Stock Options |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term (years) |  | Aggregate Intrinsic Value (in millions)
Outstanding — June 30, 2025 | 20,958,757 |  |  | $ | 21.51 |  |  | 3.8 |  | $ | 6.8 |
Granted | — |  |  | $ | — |  |  |  |  |
Exercised | (81,817) |  |  | $ | 1.30 |  |  |  |  | $ | 0.4 |
Forfeited or expired | (2,162,245) |  |  | $ | 11.16 |  |  |  |  |
Outstanding — June 30, 2026 | 18,714,695 |  |  | $ | 22.79 |  |  | 2.6 |  | $ | 4.3 |
Vested and Exercisable— June 30, 2026 | 18,102,794 |  |  | $ | 23.28 |  |  | 2.4 |  | $ | 4.3 |
Unvested option activity is as follows:
| Options |  | Weighted-Average Grant Date Fair Value
Unvested - June 30, 2025 | 1,735,457 |  |  | $ | 9.39 |
Granted | — |  |  | $ | — |
Vested | (1,005,585) |  |  | $ | 11.27 |
Forfeited or expired | (117,971) |  |  | $ | 8.81 |
Unvested - June 30, 2026 | 611,901 |  |  | $ | 6.39 |
Schedule of Fair Value Assumptions | The fair value of each option was estimated at the grant date using the Black-Scholes method with the following assumptions:
|  |  | Fiscal Year Ended June 30,
|  |  | 2025 |  | 2024
Weighted average risk-free interest rate (1) |  |  | 4.3 | % |  | 4.5 | %
Weighted average expected term (in years) (1) |  |  | 5.5 |  | 3.6
Weighted average expected volatility (1) |  |  | 87.0 | % |  | 87.5 | %
Expected dividend yield (1) |  |  | — |  |  | — |
____________________________ (1) Refer to 2019 Equity Incentive Plan within Note 2, Summary of Significant Accounting Policies for further details regarding how these assumptions are calculated.
Schedule of Restricted Stock and Restricted Stock Units | The following table summarizes the activity related to the Company's restricted stock units:
| Restricted Stock Units Outstanding
| Number of Awards |  | Weighted-Average Grant Date Fair Value
Outstanding — June 30, 2025 (1) | 54,154,272 |  |  | $ | 5.92 |
Granted | 23,136,469 |  |  | $ | 6.44 |
Vested and converted to shares | (29,512,773) |  |  | $ | 6.10 |
Cancelled | (11,033,217) |  |  | $ | 6.07 |
Outstanding — June 30, 2026 | 36,744,751 |  |  | $ | 6.06 |
____________________________ (1) During the fiscal year ended June 30, 2026, the Company updated its equity-based compensation disclosures to separately present the activity of RSUs and PSUs. Outstanding awards as of June 30, 2025, and weighted-average grant-date fair values for the prior year have been reclassified to conform to the current-year presentation. This change in presentation had no impact on previously reported consolidated net loss, total cash flows, or financial position.
Schedule of Nonvested Performance-Based Units Activity | The following table summarizes the activity related to the Company's performance stock units, inclusive of awards with performance conditions and market conditions:
| Performance Stock Units Outstanding
| Number of Awards |  | Weighted-Average Grant Date Fair Value
Outstanding — June 30, 2025 (1) | 1,147,446 |  |  | $ | 5.76 |
Granted | 5,242,805 |  |  | $ | 7.30 |
Performance adjustment | 1,719,709 |  |  | $ | 6.79 |
Vested and converted to shares | (1,999,524) |  |  | $ | 5.77 |
Cancelled | (321,267) |  |  | $ | 7.58 |
Outstanding — June 30, 2026 | 5,789,169 |  |  | $ | 7.36 |
____________________________ (1) During the fiscal year ended June 30, 2026, the Company updated its equity-based compensation disclosures to separately present the activity of RSUs and PSUs. Outstanding awards as of June 30, 2025, and weighted-average grant-date fair values for the prior year have been reclassified to conform to the current-year presentation. This change in presentation had no impact on previously reported consolidated net loss, total cash flows, or financial position.
Schedule of Stock-based Compensation Expense | The Company's total stock-based compensation expense was as follows:
| Fiscal Year Ended June 30,
| 2026 |  | 2025 |  | 2024
| (in millions)
Cost of revenue |  |  |  |  |
Connected Fitness Products | $ | 8.9 |  |  | $ | 9.3 |  |  | $ | 10.1 |
Subscription | 40.8 |  |  | 36.3 |  |  | 39.3 |
Total cost of revenue | 49.6 |  |  | 45.7 |  |  | 49.5 |
Sales and marketing | 25.1 |  |  | 16.4 |  |  | 19.7 |
General and administrative | 77.5 |  |  | 121.9 |  |  | 177.1 |
Research and development | 45.6 |  |  | 44.8 |  |  | 58.8 |
Restructuring expense | 0.8 |  |  | 0.8 |  |  | 6.6 |
Total stock-based compensation expense | $ | 198.6 |  |  | $ | 229.6 |  |  | $ | 311.7 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfNonvestedPerformanceBasedUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration