v3.25.4

Shareholders' Equity (Tables) | 6 Months Ended
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Dec. 31, 2025
Equity [Abstract] |
Schedule of Stock by Class | As of December 31, 2025, the Company has reserved the following authorized, but unissued, shares of common stock:
ESPP |  | 159 |
Stock awards outstanding under 2020 Plan |  | 21,130,811 |
Stock awards available for grant under 2020 Plan |  | 1,568,809 |
Options outstanding under 2003 Plan |  | 424,295 |
Total |  | 23,124,074 |
Schedule of Share-Based Compensation Activity | Total share-based compensation for stock awards included in selling, general and administrative expense in the condensed consolidated statements of comprehensive income was as follows for the periods presented:
|  | Three Months Ended December 31, | Six Months Ended December 31,
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |
Share-based compensation related to: |  |  |  |  |  |  |  |  |  |
Equity classified stock options |  | $ | 60 |  |  | $ | 374 |  |  | $ | 237 |  |  | $ | 850 |  |  |
Equity classified RSUs |  | 2,417 |  |  | 2,641 |  |  | 4,944 |  |  | 4,934 |  |  |
Equity classified PVUs |  | 999 |  |  | 1,684 |  |  | 2,621 |  |  | 2,761 |  |  |
Total |  | $ | 3,476 |  |  | $ | 4,699 |  |  | $ | 7,802 |  |  | $ | 8,545 |  |  |
Schedule of Stock Option Activity | The following table summarizes stock option activity under the Stock Plans for the six months ended December 31, 2025:
| Number of Options | Weighted- Average Exercise Price | Weighted- Average Remaining Contractual Term (in Years) | Aggregate Intrinsic Value (in Thousands)
Outstanding—June 30, 2025 | 3,338,025 |  | $ | 12.30 |  |  |
Options forfeited/expired/cancelled | (15,931) |  | 7.87 |  |  |
Outstanding—December 31, 2025 | 3,322,094 |  | $ | 12.32 |  | 4.94 | $ | 19,503 |
Vested and exercisable—December 31, 2025 | 3,104,079 |  | $ | 13.01 |  | 4.86 | $ | 19,503 |
Schedule of Restricted Stock Unit Activity | The following table summarizes restricted stock unit activity under the 2020 Stock Plan for the six months ended December 31, 2025:
| Number of Restricted Stock Units |  | Weighted-Average Grant Date Fair Value
Unvested as of June 30, 2025 | 8,389,188 |  |  | $ | 2.30 |
Granted | 5,853,713 |  |  | 1.72 |
Vested | (4,149,166) |  |  | 2.29 |
Forfeited | (273,130) |  |  | 2.16 |
Unvested as of December 31, 2025 | 9,820,605 |  |  | $ | 1.97 |
Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award | The following table summarizes the number of shares, stock price hurdles, service periods, and performance periods for each tranche, for the PVUs granted during the six months ended December 31, 2025:
|  | Number of Shares per Tranche |  | Grant Date Fair Value (per Share) |  | Stock Price Hurdle (per Share) |  | Performance Period |  | Requisite Service Period
Tranche 1 |  | 636,666 |  |  | $ | 1.67 |  |  | $ | 2.50 |  |  | August 1, 2025 - August 1, 2030 |  | 1 year - 3 years
Tranche 2 |  | 636,668 |  |  | $ | 1.59 |  |  | $ | 4.00 |  |  | August 1, 2025 - August 1, 2030 |  | 1.14 years - 3 years
Tranche 3 |  | 636,666 |  |  | $ | 1.49 |  |  | $ | 6.00 |  |  | August 1, 2025 - August 1, 2030 |  | 1.62 years - 3 years
The following table summarizes the number of shares, stock price hurdles, service periods, and performance periods for each tranche, for the PVUs awarded during the six months ended December 31, 2024:
|  | Number of Shares per Tranche |  | Grant Date Fair Value (per Share) |  | Stock Price Hurdle (per Share) |  | Performance Period |  | Requisite Service Period
Tranche 1 |  | 772,027 |  |  | $ | 3.98 |  |  | $ | 3.13 |  |  | August 1, 2024 - August 1, 2029 |  | 1 year - 3 years
Tranche 2 |  | 772,020 |  |  | $ | 3.75 |  |  | $ | 6.00 |  |  | August 1, 2024 - August 1, 2029 |  | 1 year - 3 years
Tranche 3 |  | 772,027 |  |  | $ | 3.49 |  |  | $ | 9.00 |  |  | August 1, 2024 - August 1, 2029 |  | 1.31 years - 3 years
Schedule of Stock Options, Valuation Assumptions | The Company used the following weighted-average assumptions for the PVUs granted during the period presented below:
|  | Shares Granted August 1, 2025 |  | Shares Granted August 1, 2024
Share price as of grant date |  | $1.74 |  | $4.01
Volatility |  | 104.2% |  | 88.8%
Risk-free interest rate |  | 3.7% |  | 3.8%
Cost of Equity |  | 15.8% |  | 12.6%
Dividend yield |  | —% |  | —%
Schedule of Nonvested Share Activity | The following table summarizes price-vested stock unit activity under the 2020 Stock Plan for the six months ended December 31, 2025:
| Number of Price-Vested Units |  | Weighted-Average Grant Date Fair Value
Unvested as of June 30, 2025 | 7,481,813 |  |  | $ | 2.11 |
Granted | 1,910,000 |  |  | $ | 1.58 |
Vested | (752,732) |  |  | $ | 2.18 |
Forfeited | (226,674) |  |  | $ | 2.01 |
Unvested as of December 31, 2025 | 8,412,407 |  |  | $ | 1.99 |

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