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Revenue | 3 Months Ended
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Sep. 30, 2024
Revenue From Contract With Customer [Abstract] |
Revenue | 3. Revenue Disaggregation of Revenue The following table presents the Company’s net revenue disaggregated by vertical (in thousands):
|  | Three Months Ended |
|  | September 30, |
|  | 2024 |  |  | 2023 |
Net revenue: |  |  |  |  |  |
Financial Services |  | $ | 210,891 |  |  | $ | 72,125 |
Home Services |  |  | 65,075 |  |  |  | 49,394 |
Other Revenue |  |  | 3,253 |  |  |  | 2,404 |
Total net revenue |  | $ | 279,219 |  |  | $ | 123,923 |
Contract Balances The contract liabilities representing client deposits from the Company’s contracts with its clients were $1.4 million and $1.3 million as of September 30, 2024 and June 30, 2024. The Company’s contract liabilities result from payments received in advance of revenue recognition and advance consideration received from clients, which precede the Company’s satisfaction of the associated performance obligation. The changes in the liability balances during the three months ended September 30, 2024 was related to advance consideration received from clients of $60.1 million, offset by revenue recognized of $60.1 million. Accounts Receivable and Allowances The allowance for credit losses on accounts receivable was $1.4 million and $0.8 million as of September 30, 2024 and June 30, 2024. The revenue reserve was $1.2 million and $1.3 million as of September 30, 2024 and June 30, 2024. The total allowance for credit losses and revenue reserve was $2.6 million and $2.1 million as of September 30, 2024 and June 30, 2024. Concentrations of Credit Risk The Company had two clients that accounted for 20% and 14% of net revenue for the three months ended September 30, 2024 and no clients that accounted for more than 10% of net revenue for the three months ended September 30, 2023. The same clients accounted for 22% and 16% of accounts receivable as of September 30, 2024, and 13% and 11% of accounts receivable as of June 30, 2024.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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