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Strategic Investments | 3 Months Ended
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Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract] |
Strategic Investments | NOTE 5: STRATEGIC INVESTMENTS Cash Converters International Limited As of December 31, 2023, we owned 273,939,157 shares, or approximately 43.7%, of Cash Converters. We acquired our original investment (representing approximately 30% of the outstanding shares) in November 2009 and have increased our ownership through the acquisition of additional shares periodically since that time. We received cash dividends from Cash Converters of $1.7 million and $1.8 million, during the three months ended December 31, 2023 and 2022, respectively. The following tables present summary financial information for Cash Converters most recently reported results at June 30, 2023 after translation to U.S. dollars:
| June 30,
(in thousands) | 2023 |  | 2022
Current assets | $ | 189,563 |  |  | $ | 158,987 |
Non-current assets | 103,595 |  |  | 170,798 |
Total assets | $ | 293,158 |  |  | $ | 329,785 |
Current liabilities | $ | 97,630 |  |  | $ | 59,256 |
Non-current liabilities | 58,777 |  |  | 53,045 |
Shareholders’ equity | 136,751 |  |  | 217,484 |
Total liabilities and shareholders’ equity | $ | 293,158 |  |  | $ | 329,785 |
| Full-Year Ended June 30,
(in thousands) | 2023 |  | 2022
Gross revenues | $ | 203,608 |  |  | $ | 178,215 |
Gross profit | $ | 125,709 |  |  | $ | 116,106 |
Net (loss) profit | $ | (65,351) |  |  | $ | 8,099 |
During the three months ended December 31, 2023 and 2022, we recorded our share of income of $1.2 million and $1.6 million, respectively, from Cash Converters, included in “Equity in net income of unconsolidated affiliates” in the condensed consolidated statements of operations. See Note 6: Fair Value Measurements for the fair value and carrying value of our investment in Cash Converters. Founders One, LLC In October 2021, we invested $15.0 million in exchange for a non-redeemable voting participating preferred equity interest in Founders One, LLC (“Founders”), a then newly-formed entity with one other member. On December 2, 2022, we contributed an additional $15.0 million to Founders associated with our preferred interest. In addition, we loaned $15.0 million to Founders in exchange for a Demand Promissory Note secured by the common interest in Founders held by the other member. In October 2023, we contributed an additional $15.0 million to Founders associated with our preferred interest, bringing our total equity investment in Founders to $45.0 million. We have an interest in Founders, a variable interest entity, but because the Company is not the primary beneficiary, we do not consolidate Founders. Further, as we are not the appointed manager, we do not have the ability to direct the activities of the investment entity that most significantly impact its economic performance. Consequently, our equity investment in Founders is accounted for utilizing the measurement alternative within ASC 321, Investments — Equity Securities. As of December 31, 2023, our $45.0 million carrying value of the investment and $15.0 million Demand Promissory Note are included in “Other investments” and “Prepaid expenses and other current assets” in our condensed consolidated balance sheets, respectively. As of December 31, 2023, our maximum exposure for losses related to our investment in Founders was our $45.0 million equity investment and $15.0 million Demand Promissory Note plus accrued and unpaid interest. See Note 6: Fair Value Measurements for the fair value and carrying value of our loan to Founders

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 323 -SubTopic 740 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481543/323-740-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org//323/tableOfContent + Details
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