Debt

12 Months Ended

Jun. 30, 2025

NOTE 4 —SUPPLIER FINANCE PROGRAM

We have a supplier finance program managed through two global financial institutions under which we agree to pay the financial institutions the stated amount of confirmed invoices from our participating suppliers on the invoice due date. We, or the global financial institutions, may terminate our agreements at any time upon 30 days written notice. We do not provide any forms of guarantees under these agreements. Supplier participation in the program is solely up to the supplier. We have no economic interest in a supplier’s decision to participate in the program, and their participation has no bearing on our payment terms or amounts due. The payment terms that we have with our suppliers under this program are considered commercially reasonable. As of June 30, 2025 and June 30, 2024, the obligations outstanding that the Company has confirmed as valid to the financial institutions under the program were $17.3 million and $26.1 million, respectively, and were recorded within trade accounts payable.

The following rollforward table indicates the Company's outstanding obligations under the supplier finance program for the year ended June 30, 2025:


Year Ended June 30 (in thousands)	2025
Confirmed obligations outstanding at the beginning of the year	$	26,059
Invoices confirmed during the year	66,035
Confirmed invoices paid during the year	(74,788)
Confirmed obligations outstanding at the end of the year	$	17,306