In April 2022, the Board of Directors authorized a stock repurchase program allowing the repurchase of up to $40.0 million of the Company's common stock (the "2022 Stock Repurchase Program"). During the nine months ended March 31, 2026, the Company repurchased and retired 1,121,745 shares of its common stock at an average price of $14.94 per share, at a total cost of $16.8 million (including a broker commission of $0.03 per share). As of March 31, 2026, the $40.0 million authorized for repurchase under the 2022 Stock Repurchase Program was fully utilized.

In October 2025, the Board of Directors authorized a new stock repurchase program allowing the Company to repurchase up to $40.0 million of its outstanding shares of common stock (the "2025 Stock Repurchase Program"). As of March 31, 2026, no repurchases have been made under the 2025 Stock Repurchase Program.

Repurchase of shares of common stock are recorded as treasury stock and are accounted for under the cost method. The Company’s accounting policy upon the retirement of treasury stock is to deduct its par value from common stock and reduce additional paid-in capital by the amount recorded in additional paid-in capital when the stock was originally issued.

The Company may grant nonstatutory stock options (“NQSOs”), restricted stock, service-based restricted stock units (“Service-based RSUs”), stock appreciation rights, performance-based stock awards (“Performance-based RSUs”), and other forms of equity compensation, as well as performance cash awards, under its 2010 Equity Incentive Plan (the “2010 Incentive Plan”). The Company may grant NQSOs and Service-based RSUs to non-employee directors under the 2010 Non-Employee Directors’ Stock Award Plan (the “Directors’ Plan”).

As of March 31, 2026, 23,125,612 shares were reserved and 11,522,246 shares were available for issuance under the 2010 Incentive Plan; 4,598,838 shares were reserved and 1,802,275 shares were available for issuance under the Directors’ Plan.

The following table summarizes the components of stock-based compensation by grant type:


	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2026		2025		2026		2025
Stock options	$	—	$	58	$	8	$	181
Restricted stock units		7,821		6,759		25,482		23,470
Employee stock purchase plan		669		256		1,755		881
Total stock-based compensation expense	$	8,490	$	7,073	$	27,245	$	24,532

The Company estimates the fair value of stock options at the date of grant using the Black-Scholes option-pricing model. Options are granted with an exercise price equal to the closing price of the Company’s common stock on the date of grant. The outstanding stock options as of March 31, 2026 totaled 114,938 shares.

The Company estimates the fair value of service-based RSUs based on the closing price of the Company’s common stock on the grant date. The following table summarizes the service-based RSU activity under the plans:


	Shares			Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Life (In years)		Aggregate Intrinsic Value (In thousands)
Outstanding at June 30, 2025		3,445,245		$	14.33		1.17	$	55,469
Granted		1,598,782
Vested		(1,279,363	)
Forfeited		(130,427	)
Outstanding at March 31, 2026		3,634,237		$	14.90		1.30	$	43,648

Performance-based RSUs vest variably subject to the achievement of performance targets, consisting of both revenue growth and adjusted EBITDA targets. The Company evaluates the portion of the awards that are probable to vest quarterly until the performance criteria are met. The Company estimates the fair value of performance-based RSUs based on the closing price of the Company’s common stock on the grant date. As some of the components that comprise the performance targets have not been fully established, a grant date as defined by ASC 718 has not been determined. The Company will re-measure the compensation expense associated with the performance-based RSUs at each reporting date based on the closing price of the Company’s common stock at each reporting date until the grant date has been established.

The following table summarizes the performance-based RSU activity under the plans:


	Shares			Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Life (In years)		Aggregate Intrinsic Value (In thousands)
Outstanding at June 30, 2025		1,293,353		$	16.09		1.18	$	20,824
Granted		944,750			12.01
Vested		(446,463	)		16.46
Forfeited		(80,663	)		10.19
Outstanding at March 31, 2026		1,710,977		$	14.06		1.34	$	20,549

In October 2021, the Company adopted the 2021 Employee Stock Purchase Plan (the “2021 ESPP”), with 2,164,999 shares of common stock reserved for future issuance under the plan. During the three months ended March 31, 2026, 199,361 shares of common stock were purchased under the 2021 ESPP at a weighted-average price of $9.38. During the nine months ended March 31, 2026, 341,692 shares of common stock were purchased under the 2021 ESPP at a weighted-average price of $9.37. As of March 31, 2026, 884,251 shares were available for issuance under the 2021 ESPP. The fair value of the purchase rights for the ESPP are estimated on the date of grant using the Black-Scholes model.