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Operating and Geographic Segment Information | 12 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Operating and Geographic Segment Information | NO TE 16 – OPERATING AND GEOGRAPHIC SEGMENT INFORMATION In conjunction with the adoption of ASU 2023-07, the Company reevaluated its measure of segment profit or loss and determined that adjusted EBITDA provides a more meaningful representation of segment performance and aligns with how the Chief Operating Decision Maker ("CODM”) evaluates operating results and allocates resources, including employees, technology investments, and capital expenditures. The Company considers adjusted EBITDA as its primary performance metric. In connection with this segment reporting change, the Company has recast previously reported amounts for the reportable segments to conform with the current segment presentation. The Company is organized in two reportable segments: United States and Canada. The Company’s segment structure is aligned with its geographic operations, as this reflects the way management assesses business performance and allocates resources. Each reportable segment derives its revenue primarily from providing transportation services, and to a lesser extent from other value-added services. Other segment expenses primarily include selling, general, and administrative expenses. Certain corporate costs, primarily the salaries and benefits of the Company’s executives, and other corporate functions, such as legal and financial reporting, amortization of intangible assets, and other corporate costs associated with operating as a public company are considered unallocated corporate costs and not reported in the segment results. The CEO, who is the CODM, uses adjusted EBITDA to assess performance and allocate resources to each segment, primarily through performance reviews of the operating segment results and periodic reviews of the segment’s budget versus actual comparisons. The segment profit measure excludes the effects of interest, income taxes, depreciation and amortization, and further adjust for such items as share-based compensation, costs unrelated to our core operations, and other non-cash charges. The accounting policies of the reportable segments are the same as those described in Note 2. The Company does not report total assets by segment as its CODM does not assess performance, make strategic decisions, or allocate resources based on assets. The following tables summarize key financial information by segment:
|  | Year Ended June 30, 2025 |
(In thousands) |  | United States |  |  | Canada |  |  | Total |
Revenue |  | $ | 792,182 |  |  | $ | 110,897 |  |  | $ | 903,079 |
Elimination from intersegment revenue |  |  |  |  |  |  |  |  | (383 | )
Total consolidated revenue |  |  |  |  |  |  |  | $ | 902,696 |
Less segment expenses: |  |  |  |  |  |  |  |  |
Cost of transportation and other services |  |  | (588,976 | ) |  |  | (74,684 | ) |  |  |
Operating partner commissions |  |  | (78,493 | ) |  |  | — |  |  |  |
Personnel costs |  |  | (58,078 | ) |  |  | (18,293 | ) |  |  |
Other segment expenses |  |  | (26,616 | ) |  |  | (8,281 | ) |  |  |
Segment adjusted EBITDA |  | $ | 40,019 |  |  | $ | 9,639 |  |  | $ | 49,658 |
|  | Year Ended June 30, 2024 |
(In thousands) |  | United States |  |  | Canada |  |  | Total |
Revenue |  | $ | 683,955 |  |  | $ | 118,756 |  |  | $ | 802,711 |
Elimination from intersegment revenue |  |  |  |  |  |  |  |  | (241 | )
Total consolidated revenue |  |  |  |  |  |  |  | $ | 802,470 |
Less segment expenses: |  |  |  |  |  |  |  |  |
Cost of transportation and other services |  |  | (487,416 | ) |  |  | (78,772 | ) |  |  |
Operating partner commissions |  |  | (92,668 | ) |  |  | — |  |  |  |
Personnel costs |  |  | (52,957 | ) |  |  | (19,270 | ) |  |  |
Other segment expenses |  |  | (22,231 | ) |  |  | (7,763 | ) |  |  |
Segment adjusted EBITDA |  | $ | 28,683 |  |  | $ | 12,951 |  |  | $ | 41,634 |
The following table presents a reconciliation of Segment adjusted EBITDA to income before income taxes:
|  | Year ended June 30, |
(In thousands) |  | 2025 |  |  | 2024 |
Segment adjusted EBITDA |  | $ | 49,658 |  |  | $ | 41,634 |
Depreciation and amortization |  |  | (18,493 | ) |  |  | (18,552 | )
Share-based compensation |  |  | 819 |  |  |  | (2,611 | )
Change in fair value of contingent consideration |  |  | 2,491 |  |  |  | 450 |
Change in fair value of interest rate swap contracts |  |  | (1,032 | ) |  |  | (1,197 | )
Lease termination costs |  |  | (1,491 | ) |  |  | (76 | )
Interest income (expense), net |  |  | (39 | ) |  |  | 1,277 |
Other |  |  | 311 |  |  |  | 655 |
Unallocated corporate costs |  |  | (11,021 | ) |  |  | (11,860 | )
Income before income taxes |  | $ | 21,203 |  |  | $ | 9,720 |
The following table presents depreciation and amortization expense by segment:
|  | Year ended June 30, |
(In thousands) |  | 2025 |  |  | 2024 |
United States |  | $ | 3,790 |  |  | $ | 4,127 |
Canada |  |  | 4,058 |  |  |  | 3,948 |
Corporate/Eliminations |  |  | 10,645 |  |  |  | 10,477 |
Total |  | $ | 18,493 |  |  | $ | 18,552 |
Long-lived tangible assets outside of the United States, including right-of-use assets, are primarily located in Canada and were $61,303 and $54,273 as of June 30, 2025 and 2024, respectively.

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- Definition The entire disclosure for reporting segments including data and tables. 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