v3.25.4

Segment Information (Tables)

6 Months Ended

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).

X

- 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

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration