v3.25.4

Revenues from Contracts with Customers | 6 Months Ended
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Dec. 31, 2025
Revenue from Contract with Customer [Abstract] |
Revenues from Contracts with Customers | REVENUES FROM CONTRACTS WITH CUSTOMERS Disaggregation of Revenue from Contracts with Customers—The disaggregation of revenue by segment and product is depicted for the periods presented below, and is consistent with how the Company evaluates its financial performance:
| Three Months Ended December 31, |  | Six Months Ended December 31, |  |  |  |  |  |  |  |  |  |
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  |  |  |  |  |  |  |
Senior: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Medicare advantage commissions | $ | 224,831 |  |  | $ | 226,716 |  |  | $ | 272,908 |  |  | $ | 301,187 |  |  |  |  |  |  |  |  |  |  |
Other Senior commissions | 6,268 |  |  | 2,185 |  |  | 8,938 |  |  | 4,765 |  |  |  |  |  |  |  |  |  |  |
Other services | 30,440 |  |  | 26,677 |  |  | 38,690 |  |  | 42,535 |  |  |  |  |  |  |  |  |  |  |
Total Senior revenue | 261,539 |  |  | 255,578 |  |  | 320,536 |  |  | 348,487 |  |  |  |  |  |  |  |  |  |  |
Healthcare Services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pharmacy | 227,209 |  |  | 180,000 |  |  | 445,753 |  |  | 332,883 |  |  |  |  |  |  |  |  |  |  |
Other services | 3,445 |  |  | 3,370 |  |  | 6,252 |  |  | 6,225 |  |  |  |  |  |  |  |  |  |  |
Total Healthcare Services revenue | 230,654 |  |  | 183,370 |  |  | 452,005 |  |  | 339,108 |  |  |  |  |  |  |  |  |  |  |
Life: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Term commissions | 18,487 |  |  | 18,666 |  |  | 37,766 |  |  | 35,030 |  |  |  |  |  |  |  |  |  |  |
Final expense commissions | 20,389 |  |  | 16,283 |  |  | 42,335 |  |  | 34,607 |  |  |  |  |  |  |  |  |  |  |
Other services | 4,747 |  |  | 4,912 |  |  | 10,168 |  |  | 9,514 |  |  |  |  |  |  |  |  |  |  |
Total Life revenue | 43,623 |  |  | 39,861 |  |  | 90,269 |  |  | 79,151 |  |  |  |  |  |  |  |  |  |  |
All other: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commissions | 2,620 |  |  | 3,972 |  |  | 6,267 |  |  | 9,767 |  |  |  |  |  |  |  |  |  |  |
Other services | 1,271 |  |  | 171 |  |  | 1,271 |  |  | 343 |  |  |  |  |  |  |  |  |  |  |
Total All other revenue | 3,891 |  |  | 4,143 |  |  | 7,538 |  |  | 10,110 |  |  |  |  |  |  |  |  |  |  |
Eliminations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commissions | (1,160) |  |  | (1,022) |  |  | (1,812) |  |  | (1,665) |  |  |  |  |  |  |  |  |  |  |
Other services | (1,445) |  |  | (861) |  |  | (2,623) |  |  | (1,859) |  |  |  |  |  |  |  |  |  |  |
Total Elimination revenue | (2,605) |  |  | (1,883) |  |  | (4,435) |  |  | (3,524) |  |  |  |  |  |  |  |  |  |  |
Total Commissions and other services revenue | 309,893 |  |  | 301,069 |  |  | 420,160 |  |  | 440,449 |  |  |  |  |  |  |  |  |  |  |
Total Pharmacy revenue | 227,209 |  |  | 180,000 |  |  | 445,753 |  |  | 332,883 |  |  |  |  |  |  |  |  |  |  |
Total Revenue | $ | 537,102 |  |  | $ | 481,069 |  |  | $ | 865,913 |  |  | $ | 773,332 |  |  |  |  |  |  |  |  |  |  |
Contract Balances—The Company has contract assets related to commissions receivable from its insurance carrier partners, with the movement over time as the policy is renewed between long-term and short-term commissions receivable and accounts receivable, net being the main activity, along with commission revenue adjustments from changes in estimates. A roll forward of commissions receivable (current and long-term) is shown below for the period presented:
(in thousands) |  |  |
Balance as of June 30, 2025 |  | $ | 950,828 |  |
Commission revenue from revenue recognized |  | 164,606 |  |
Net commission revenue adjustment from change in estimate |  | 128 |  |
Amounts recognized as accounts receivable, net |  | (21,784) |  |
Balance as of December 31, 2025 |  | $ | 1,093,778 |  |
For the six months ended December 31, 2025, the $0.1 million net commission revenue adjustment from change in estimate includes adjustments related to revenue recognized in prior fiscal years, based on the Company’s reassessment of each of its cohorts’ transaction prices. It includes a positive adjustment of $0.6 million for Senior and a negative adjustment of $0.4 million for Life. The remaining negative adjustment of $0.1 million relates to the Company’s All other non-reportable segment. Refer to Note 15 to the condensed consolidated financial statements for further details on the Company’s reportable segments. The Company’s contract liabilities on the condensed consolidated balance sheets represent unamortized upfront payments received for commission revenue for which the performance obligations have not yet been met and are anticipated to be recognized over the next twelve months. A roll forward of contract liabilities (current) is shown below for the period presented:
(in thousands) |  |  |
Balance as of June 30, 2025 |  | $ | 698 |  |
Commission and other services revenue recognized |  | (12,501) |  |
Amounts recognized as contract liabilities |  | 13,640 |  |
Balance as of December 31, 2025 |  | $ | 1,837 |  |

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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 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: 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 3: 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 4: 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 5: 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 6: 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 7: 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 8: 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 9: 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 10: 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 11: 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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