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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

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