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Equity Method Investment in Equity Investee (Tables) | 12 Months Ended
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Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of deconsolidation | The gain on deconsolidation of the JV Company was calculated as follows:
|  |  | (in thousands)
Cash received for sales of shares in the JV Company |  | $ | 16,924 |
Fair value of retained equity method investment |  | 393,124 |
Carrying amount of non-controlling interest |  | 143,889 |
Cumulative translation adjustment removal |  | 1,793 |
Carrying amount of net assets of the JV Company at December 1, 2021 |  | (156,637) |
Gain on deconsolidation of the JV Company |  | $ | 399,093 |
The net loss associated with these sales of JV Company equity interest held by the Company was recorded in the fiscal year ended June 30, 2022 as follows:
|  | (in thousands)
Gain on 1.1% equity interest sold |  | $ | 475 |
Loss on diluted equity interest from issuance of shares under the employee equity incentive plan |  | (8,116) |
Gain on 7.82% equity interest sold |  | 4,501 |
Loss on changes on equity interest of the JV Company, net |  | $ | (3,140) |
Summarized financial information of joint venture | The following table presents summarized financial information for the JV Company (in thousands):
|  | As of March 31, 2024 |  | As of March 31, 2023 |  | As of March 31, 2022 |  |
Current assets |  | $ | 86,280 |  |  | $ | 122,324 |  |  | $ | 198,323 |  |  |
Non-current assets |  | $ | 338,450 |  |  | $ | 333,165 |  |  | $ | 364,777 |  |  |
Current liabilities |  | $ | 70,776 |  |  | $ | 122,340 |  |  | $ | 251,988 |  |  |
Non-current liabilities |  | $ | 81,899 |  |  | $ | 36,525 |  |  | $ | 76,207 |  |  |
|  | For the period April 1, 2023 to March 31, 2024 |  | For the period April 1, 2022 to March 31, 2023 |  | For the period December 2, 2021 to March 31, 2022 |  |
Revenue |  | $ | 128,951 |  |  | $ | 178,974 |  |  | $ | 68,972 |  |  |
Gross loss (income) |  | $ | (1,844) |  |  | $ | (4,502) |  |  | $ | 870 |  |  |
Operating expenses |  | $ | 9,174 |  |  | $ | 5,939 |  |  | $ | 2,280 |  |  |
Net loss |  | $ | 9,477 |  |  | $ | 4,906 |  |  | $ | 6,197 |  |  |

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