v3.25.4

Leases | 6 Months Ended
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Dec. 31, 2025
Leases [Abstract] |
Leases | LEASES The majority of the Company’s leases are operating leases related to office space for which the Company recognizes lease expense on a straight-line basis over the respective lease term. The Company leases office facilities in the United States in San Diego, CA; Centennial, CO; Overland Park, KS; Olathe, KS; Oakland, CA; Indianapolis, IN; and Monaca, PA. The Company's operating leases have remaining lease terms of less than one year up to twelve years. SelectRx leases the Monaca facility from an Executive Vice President of SelectRx. The Company expects to incur $3.6 million in total rental payments over the initial ten-year term plus an additional five-year extension option that it is reasonably certain to exercise. During the six months ended December 31, 2025, the Company entered into one finance lease and added equipment to two existing finance leases, resulting in new right-of-use assets obtained in exchange for new lease liabilities of $0.4 million. During the six months ended December 31, 2024, the Company entered into four finance leases for equipment with commencement dates August 1, 2024 and September 19, 2024, resulting in new right-of-use assets obtained in exchange for new lease liabilities of $1.3 million. Lease Costs—The components of lease costs were as follows for the periods presented:
| Three Months Ended December 31, |  | Six Months Ended December 31,
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Finance lease costs(1) | $ | 221 |  |  | $ | 151 |  |  | $ | 447 |  |  | $ | 249 |
Operating lease costs(2) | 1,890 |  |  | 1,767 |  |  | 3,819 |  |  | 3,517 |
Short-term lease costs | 66 |  |  | 63 |  |  | 133 |  |  | 125 |
Variable lease costs(3) | 189 |  |  | 135 |  |  | 424 |  |  | 282 |
Sublease income | (432) |  |  | (550) |  |  | (958) |  |  | (1,113) |
Total net lease costs | $ | 1,934 |  |  | $ | 1,566 |  |  | $ | 3,865 |  |  | $ | 3,060 |
(1) Primarily consists of amortization of finance lease right-of-use assets and an immaterial amount of interest on finance lease liabilities recorded in selling, general, and administrative expense and interest expense, net in the condensed consolidated statements of comprehensive income. (2) Recorded in selling, general, and administrative expense in the condensed consolidated statements of comprehensive income. (3) Variable lease costs are not included in the measurement of the lease liability or right-of-use asset as they are not based on an index or rate and primarily represents common area maintenance charges and real estate taxes recorded in operating costs and expenses in the condensed consolidated statements of comprehensive income. Maturities of Lease Liabilities—As of December 31, 2025, remaining maturities of lease liabilities for each of the next five fiscal years and thereafter are as follows:
(in thousands) |  | Operating leases |  | Finance leases |  | Total
Remainder fiscal 2026 |  | $ | 3,929 |  |  | $ | 379 |  |  | $ | 4,308 |
2027 |  | 7,267 |  |  | 722 |  |  | 7,989 |
2028 |  | 6,906 |  |  | 690 |  |  | 7,596 |
2029 |  | 7,006 |  |  | 417 |  |  | 7,423 |
2030 |  | 4,615 |  |  | 30 |  |  | 4,645 |
Thereafter |  | 12,985 |  |  | — |  |  | 12,985 |
Total undiscounted lease payments |  | 42,708 |  |  | 2,238 |  |  | 44,946 |
Less: interest |  | 14,246 |  |  | 433 |  |  | 14,679 |
Present value of lease liabilities |  | $ | 28,462 |  |  | $ | 1,805 |  |  | $ | 30,267 |
Sublease income—The Company subleases portions of its office facilities in Overland Park, KS and Centennial, CO, which run through July 31, 2029, and November 30, 2026, respectively. Sublease income is recorded on a straight-line basis as a reduction of lease expense in the condensed consolidated statements of comprehensive income. The Company may consider entering into additional sublease arrangements in the future. As of December 31, 2025, the future minimum fixed sublease receipts under non-cancelable operating lease agreements are as follows:
(in thousands) |  | Total
Remainder fiscal 2026 |  | $ | 1,207 |
2027 |  | 2,102 |
2028 |  | 1,931 |
2029 |  | 1,931 |
2030 |  | 161 |
Total sublease income |  | $ | 7,332 |
Leases | LEASES The majority of the Company’s leases are operating leases related to office space for which the Company recognizes lease expense on a straight-line basis over the respective lease term. The Company leases office facilities in the United States in San Diego, CA; Centennial, CO; Overland Park, KS; Olathe, KS; Oakland, CA; Indianapolis, IN; and Monaca, PA. The Company's operating leases have remaining lease terms of less than one year up to twelve years. SelectRx leases the Monaca facility from an Executive Vice President of SelectRx. The Company expects to incur $3.6 million in total rental payments over the initial ten-year term plus an additional five-year extension option that it is reasonably certain to exercise. During the six months ended December 31, 2025, the Company entered into one finance lease and added equipment to two existing finance leases, resulting in new right-of-use assets obtained in exchange for new lease liabilities of $0.4 million. During the six months ended December 31, 2024, the Company entered into four finance leases for equipment with commencement dates August 1, 2024 and September 19, 2024, resulting in new right-of-use assets obtained in exchange for new lease liabilities of $1.3 million. Lease Costs—The components of lease costs were as follows for the periods presented:
| Three Months Ended December 31, |  | Six Months Ended December 31,
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Finance lease costs(1) | $ | 221 |  |  | $ | 151 |  |  | $ | 447 |  |  | $ | 249 |
Operating lease costs(2) | 1,890 |  |  | 1,767 |  |  | 3,819 |  |  | 3,517 |
Short-term lease costs | 66 |  |  | 63 |  |  | 133 |  |  | 125 |
Variable lease costs(3) | 189 |  |  | 135 |  |  | 424 |  |  | 282 |
Sublease income | (432) |  |  | (550) |  |  | (958) |  |  | (1,113) |
Total net lease costs | $ | 1,934 |  |  | $ | 1,566 |  |  | $ | 3,865 |  |  | $ | 3,060 |
(1) Primarily consists of amortization of finance lease right-of-use assets and an immaterial amount of interest on finance lease liabilities recorded in selling, general, and administrative expense and interest expense, net in the condensed consolidated statements of comprehensive income. (2) Recorded in selling, general, and administrative expense in the condensed consolidated statements of comprehensive income. (3) Variable lease costs are not included in the measurement of the lease liability or right-of-use asset as they are not based on an index or rate and primarily represents common area maintenance charges and real estate taxes recorded in operating costs and expenses in the condensed consolidated statements of comprehensive income. Maturities of Lease Liabilities—As of December 31, 2025, remaining maturities of lease liabilities for each of the next five fiscal years and thereafter are as follows:
(in thousands) |  | Operating leases |  | Finance leases |  | Total
Remainder fiscal 2026 |  | $ | 3,929 |  |  | $ | 379 |  |  | $ | 4,308 |
2027 |  | 7,267 |  |  | 722 |  |  | 7,989 |
2028 |  | 6,906 |  |  | 690 |  |  | 7,596 |
2029 |  | 7,006 |  |  | 417 |  |  | 7,423 |
2030 |  | 4,615 |  |  | 30 |  |  | 4,645 |
Thereafter |  | 12,985 |  |  | — |  |  | 12,985 |
Total undiscounted lease payments |  | 42,708 |  |  | 2,238 |  |  | 44,946 |
Less: interest |  | 14,246 |  |  | 433 |  |  | 14,679 |
Present value of lease liabilities |  | $ | 28,462 |  |  | $ | 1,805 |  |  | $ | 30,267 |
Sublease income—The Company subleases portions of its office facilities in Overland Park, KS and Centennial, CO, which run through July 31, 2029, and November 30, 2026, respectively. Sublease income is recorded on a straight-line basis as a reduction of lease expense in the condensed consolidated statements of comprehensive income. The Company may consider entering into additional sublease arrangements in the future. As of December 31, 2025, the future minimum fixed sublease receipts under non-cancelable operating lease agreements are as follows:
(in thousands) |  | Total
Remainder fiscal 2026 |  | $ | 1,207 |
2027 |  | 2,102 |
2028 |  | 1,931 |
2029 |  | 1,931 |
2030 |  | 161 |
Total sublease income |  | $ | 7,332 |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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