v3.25.4

Segment Information (Tables) | 6 Months Ended
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Dec. 31, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following tables present information about the reportable segments for the periods presented. We do not report total assets by segment as our CODM does not use this information to evaluate operating segment performance. Accordingly, we do not regularly provide such information by segment to our CODM. Three Months Ended December 31, 2025:
(in thousands) | Senior |  | Healthcare Services |  | Life |  |  |  |  |  | Total
External revenue | $ | 259,201 |  |  | $ | 230,412 |  |  | $ | 43,598 |  |  |  |  |  |  | $ | 533,211 |
Intersegment revenue | 2,338 |  |  | 242 |  |  | 25 |  |  |  |  |  |  | 2,605 |
Total revenue from reportable segments | $ | 261,539 |  |  | $ | 230,654 |  |  | $ | 43,623 |  |  |  |  |  |  | $ | 535,816 |
All other revenue (1) |  |  |  |  |  |  |  |  |  |  | 3,891 |
Eliminations of intersegment revenues |  |  |  |  |  |  |  |  |  |  | (2,605) |
Total consolidated revenue |  |  |  |  |  |  |  |  |  |  | $ | 537,102 |
(1) Represents revenue from SQAH, a non-reportable segment.
(in thousands) | Senior |  | Healthcare Services |  | Life |  |  |  | Total
Total revenue from reportable segments | $ | 261,539 |  |  | $ | 230,654 |  |  | $ | 43,623 |  |  |  |  | $ | 535,816 |
Less: |  |  |  |  |  |  |  |  |
Cost of commissions and other services revenue | (74,391) |  |  | (8,357) |  |  | (17,404) |  |  |  |  |
Cost of goods sold - pharmacy revenue | — |  |  | (203,783) |  |  | — |  |  |  |  |
Marketing expense (1) | (84,056) |  |  | (2,235) |  |  | (20,376) |  |  |  |  |
Technical development (2) | — |  |  | (311) |  |  | — |  |  |  |  |
Selling, general, and administrative (3) | (640) |  |  | (15,122) |  |  | (262) |  |  |  |  |
Adjusted Segment EBITDA | $ | 102,452 |  |  | $ | 846 |  |  | $ | 5,581 |  |  |  |  | $ | 108,879 |
Reconciliation of total segment Adjusted EBITDA |  |  |  |  |  |  |  |  |
All other Adjusted EBITDA (4) |  |  |  |  |  |  |  |  | 2,102 |
Corporate (5) |  |  |  |  |  |  |  |  | (26,250) |
Share-based compensation expense |  |  |  |  |  |  |  |  | (3,475) |
Transaction costs (6) |  |  |  |  |  |  |  |  | (662) |
Depreciation and amortization |  |  |  |  |  |  |  |  | (4,322) |
Impairment of equity-method investment (7) |  |  |  |  |  |  |  |  | (1,000) |
Change in fair value of warrants |  |  |  |  |  |  |  |  | 19,296 |
Interest expense, net |  |  |  |  |  |  |  |  | (11,613) |
Income before income tax expense (benefit) |  |  |  |  |  |  |  |  | $ | 82,955 |
(1) Primarily consists of direct advertising and lead generation costs across various marketing channels. (2) Primarily comprised of payroll and related benefits for dedicated Healthcare Services IT personnel. (3) For Senior and Life, these costs are primarily comprised of allocations from corporate related to payroll and related benefits for administrative support functions and facilities. Within Healthcare Services, it primarily consists of payroll and related benefit costs for licensed pharmacists and pharmacy technicians performing one-time customer onboarding work for enrollments that don’t actually become members. (4) Represents adjusted EBITDA from SQAH, a non-reportable segment. (5) Corporate is not an operating segment and consists primarily of unallocated corporate overhead costs, such as payroll and related benefits ($17.4 million), professional services ($5.0 million), and facilities ($1.4 million). (6) These expenses primarily consist of financing transaction costs ($0.3 million) and non-restructuring severance expenses ($0.3 million). (7) During the three months ended December 31, 2025, the Company recognized an impairment charge of $1.0 million representing a full write-off of its equity-method investment. Three Months Ended December 31, 2024:
(in thousands) | Senior |  | Healthcare Services |  | Life |  |  |  |  |  | Total
External revenue | $ | 253,805 |  |  | $ | 183,281 |  |  | $ | 39,840 |  |  |  |  |  |  | $ | 476,926 |
Intersegment revenue | 1,773 |  |  | 89 |  |  | 21 |  |  |  |  |  |  | 1,883 |
Total revenue from reportable segments | $ | 255,578 |  |  | $ | 183,370 |  |  | $ | 39,861 |  |  |  |  |  |  | $ | 478,809 |
All other revenue (1) |  |  |  |  |  |  |  |  |  |  | 4,143 |
Eliminations of intersegment revenues |  |  |  |  |  |  |  |  |  |  | (1,883) |
Total consolidated revenue |  |  |  |  |  |  |  |  |  |  | $ | 481,069 |
(1) Represents revenue from SQAH, a non-reportable segment.
(in thousands) | Senior |  | Healthcare Services |  | Life |  |  |  | Total
Total revenue from reportable segments | $ | 255,578 |  |  | $ | 183,370 |  |  | $ | 39,861 |  |  |  |  | $ | 478,809 |
Less: |  |  |  |  |  |  |  |  |
Cost of commissions and other services revenue | (75,042) |  |  | (7,932) |  |  | (15,041) |  |  |  |  |
Cost of goods sold - pharmacy revenue | — |  |  | (155,009) |  |  | — |  |  |  |  |
Marketing expense (1) | (79,398) |  |  | (1,902) |  |  | (17,172) |  |  |  |  |
Technical development (2) | — |  |  | (592) |  |  | — |  |  |  |  |
Selling, general, and administrative (3) | (617) |  |  | (15,723) |  |  | (225) |  |  |  |  |
Adjusted Segment EBITDA | $ | 100,521 |  |  | $ | 2,212 |  |  | $ | 7,423 |  |  |  |  | $ | 110,156 |
Reconciliation of total segment Adjusted EBITDA |  |  |  |  |  |  |  |  |
All other Adjusted EBITDA (4) |  |  |  |  |  |  |  |  | 2,303 |
Corporate (5) |  |  |  |  |  |  |  |  | (24,940) |
Share-based compensation expense |  |  |  |  |  |  |  |  | (4,699) |
Transaction costs (6) |  |  |  |  |  |  |  |  | (6,719) |
Depreciation and amortization |  |  |  |  |  |  |  |  | (5,060) |
Loss on disposal of property, equipment, and software, net |  |  |  |  |  |  |  |  | (122) |
Change in fair value of warrants |  |  |  |  |  |  |  |  | (7,642) |
Interest expense, net |  |  |  |  |  |  |  |  | (23,721) |
Income before income tax expense (benefit) |  |  |  |  |  |  |  |  | $ | 39,556 |
(1) Primarily consists of direct advertising and lead generation costs across various marketing channels. (2) Primarily comprised of payroll and related benefits for dedicated Healthcare Services IT personnel. (3) For Senior and Life, these costs are primarily comprised of allocations from corporate related to payroll and related benefits for administrative support functions and facilities. Within Healthcare Services, it primarily consists of payroll and related benefit costs for licensed pharmacists and pharmacy technicians performing one-time customer onboarding work for enrollments that don’t actually become members. (4) Represents adjusted EBITDA from SQAH, a non-reportable segment. (5) Corporate is not an operating segment and consists primarily of unallocated corporate overhead costs, such as payroll and related benefits ($17.3 million), professional services ($4.0 million), and facilities ($1.3 million). (6) These expenses primarily consist of financing transaction costs ($6.7 million). Six Months Ended December 31, 2025:
(in thousands) | Senior |  | Healthcare Services |  | Life |  |  |  |  |  | Total
External revenue | $ | 316,499 |  |  | $ | 451,650 |  |  | $ | 90,226 |  |  |  |  |  |  | $ | 858,375 |
Intersegment revenue | 4,037 |  |  | 355 |  |  | 43 |  |  |  |  |  |  | 4,435 |
Total revenue from reportable segments | $ | 320,536 |  |  | $ | 452,005 |  |  | $ | 90,269 |  |  |  |  |  |  | $ | 862,810 |
All other revenue (1) |  |  |  |  |  |  |  |  |  |  | 7,538 |
Eliminations of intersegment revenues |  |  |  |  |  |  |  |  |  |  | (4,435) |
Total consolidated revenue |  |  |  |  |  |  |  |  |  |  | $ | 865,913 |
(1) Represents revenue from SQAH, a non-reportable segment.
(in thousands) | Senior |  | Healthcare Services |  | Life |  |  |  | Total
Total revenue from reportable segments | $ | 320,536 |  |  | $ | 452,005 |  |  | $ | 90,269 |  |  |  |  | $ | 862,810 |
Less: |  |  |  |  |  |  |  |  |
Cost of commissions and other services revenue | (116,288) |  |  | (14,658) |  |  | (35,382) |  |  |  |  |
Cost of goods sold - pharmacy revenue | — |  |  | (395,181) |  |  | — |  |  |  |  |
Marketing expense (1) | (121,686) |  |  | (4,623) |  |  | (43,136) |  |  |  |  |
Technical development (2) | — |  |  | (749) |  |  | — |  |  |  |  |
Selling, general, and administrative (3) | (1,147) |  |  | (28,736) |  |  | (599) |  |  |  |  |
Adjusted Segment EBITDA | $ | 81,415 |  |  | $ | 8,058 |  |  | $ | 11,152 |  |  |  |  | $ | 100,625 |
Reconciliation of total segment Adjusted EBITDA |  |  |  |  |  |  |  |  |
All other Adjusted EBITDA (4) |  |  |  |  |  |  |  |  | 3,989 |
Corporate (5) |  |  |  |  |  |  |  |  | (51,962) |
Share-based compensation expense |  |  |  |  |  |  |  |  | (7,802) |
Transaction costs (6) |  |  |  |  |  |  |  |  | (846) |
Depreciation and amortization |  |  |  |  |  |  |  |  | (8,622) |
Impairment of equity-method investment (7) |  |  |  |  |  |  |  |  | (1,000) |
Change in fair value of warrants |  |  |  |  |  |  |  |  | 34,332 |
Interest expense, net |  |  |  |  |  |  |  |  | (23,421) |
Income before income tax expense (benefit) |  |  |  |  |  |  |  |  | $ | 45,293 |
(1) Primarily consists of direct advertising and lead generation costs across various marketing channels. (2) Primarily comprised of payroll and related benefits for dedicated Healthcare Services IT personnel. (3) For Senior and Life, these costs are primarily comprised of allocations from corporate related to payroll and related benefits for administrative support functions and facilities. Within Healthcare Services, it primarily consists of payroll and related benefit costs for licensed pharmacists and pharmacy technicians performing one-time customer onboarding work for enrollments that don’t actually become members. (4) Represents adjusted EBITDA from SQAH, a non-reportable segment. (5) Corporate is not an operating segment and consists primarily of unallocated corporate overhead costs, such as payroll and related benefits ($35.2 million), professional services ($9.1 million), and facilities ($2.7 million). (6) These expenses primarily consist of financing transaction costs ($0.5 million) and non-restructuring severance expenses ($0.4 million). (7) During the six months ended December 31, 2025, the Company recognized an impairment charge of $1.0 million representing a full write-off of its equity-method investment. Six Months Ended December 31, 2024:
(in thousands) | Senior |  | Healthcare Services |  | Life |  |  |  |  |  | Total
External revenue | $ | 345,169 |  |  | $ | 338,947 |  |  | $ | 79,106 |  |  |  |  |  |  | $ | 763,222 |
Intersegment revenue | 3,318 |  |  | 161 |  |  | 45 |  |  |  |  |  |  | 3,524 |
Total revenue from reportable segments | $ | 348,487 |  |  | $ | 339,108 |  |  | $ | 79,151 |  |  |  |  |  |  | $ | 766,746 |
All other revenue (1) |  |  |  |  |  |  |  |  |  |  | 10,110 |
Eliminations of intersegment revenues |  |  |  |  |  |  |  |  |  |  | (3,524) |
Total consolidated revenue |  |  |  |  |  |  |  |  |  |  | $ | 773,332 |
(1) Represents revenue from SQAH, a non-reportable segment.
(in thousands) | Senior |  | Healthcare Services |  | Life |  |  |  | Total
Total revenue from reportable segments | $ | 348,487 |  |  | $ | 339,108 |  |  | $ | 79,151 |  |  |  |  | $ | 766,746 |
Less: |  |  |  |  |  |  |  |  |
Cost of commissions and other services revenue | (116,169) |  |  | (13,812) |  |  | (29,613) |  |  |  |  |
Cost of goods sold - pharmacy revenue | — |  |  | (283,375) |  |  | — |  |  |  |  |
Marketing expense (1) | (122,775) |  |  | (4,149) |  |  | (35,667) |  |  |  |  |
Technical development (2) | — |  |  | (1,200) |  |  | — |  |  |  |  |
Selling, general, and administrative (3) | (1,296) |  |  | (29,483) |  |  | (488) |  |  |  |  |
Adjusted Segment EBITDA | $ | 108,247 |  |  | $ | 7,089 |  |  | $ | 13,383 |  |  |  |  | $ | 128,719 |
Reconciliation of total segment Adjusted EBITDA |  |  |  |  |  |  |  |  |
All other Adjusted EBITDA (4) |  |  |  |  |  |  |  |  | 6,099 |
Corporate (5) |  |  |  |  |  |  |  |  | (48,983) |
Share-based compensation expense |  |  |  |  |  |  |  |  | (8,545) |
Transaction costs (6) |  |  |  |  |  |  |  |  | (7,544) |
Depreciation and amortization |  |  |  |  |  |  |  |  | (10,659) |
Loss on disposal of property, equipment, and software, net |  |  |  |  |  |  |  |  | (157) |
Change in fair value of warrants |  |  |  |  |  |  |  |  | (7,642) |
Interest expense, net |  |  |  |  |  |  |  |  | (46,752) |
Income before income tax expense (benefit) |  |  |  |  |  |  |  |  | $ | 4,536 |
(1) Primarily consists of direct advertising and lead generation costs across various marketing channels. (2) Primarily comprised of payroll and related benefits for dedicated Healthcare Services IT personnel. (3) For Senior and Life, these costs are primarily comprised of allocations from corporate related to payroll and related benefits for administrative support functions and facilities. Within Healthcare Services, it primarily consists of payroll and related benefit costs for licensed pharmacists and pharmacy technicians performing one-time customer onboarding work for enrollments that don’t actually become members. (4) Represents adjusted EBITDA from SQAH, a non-reportable segment. (5) Corporate is not an operating segment and consists primarily of unallocated corporate overhead costs, such as payroll and related benefits ($32.8 million), professional services ($8.8 million), and facilities ($2.8 million). (6) These expenses primarily consist of non-restructuring severance expenses ($0.5 million) and financing transaction costs ($7.0 million).

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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