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Income Taxes
 3 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes

5. INCOME TAXES

The provision for income taxes for the interim periods is based on an estimate of the Company’s annual effective tax rate adjusted to reflect the impact of discrete items. Management judgment is required in projecting ordinary income to estimate the Company’s annual effective tax rate. The Company’s effective tax rate for the three months ended September 30, 2025, and September 30, 2024, was 21.9% and 31.0%, respectively. For the three months ended September 30, 2025, the effective tax rate differs from the statutory tax rate of 21% primarily due to state taxes and the impact of foreign operations, offset by credit for research and development and the impact associated with uncertain tax positions. For the three months ended September 30, 2024, the effective tax rate differs from the statutory tax rate of 21% due to state taxes and the impact of foreign operations.

On July 4, 2025, new tax legislation was enacted under the One Big Beautiful Bill Act (the “OBBBA”). The OBBBA includes a wide range of tax provisions that will impact the Company’s financial results in fiscal 2026 and future periods. Significant impacts stemming from the OBBBA include the future expensing of U.S. based research and development expenditures under Internal Revenue Code Section 174, coupled with the option to deduct previously capitalized research and development expenditures. The OBBBA also reestablished elective 100% initial-year bonus depreciation. Due to the timing of enactment within our current period end, the Company has undergone efforts to reasonably estimate the impact of the OBBBA to our condensed consolidated financial statements. The Company does not expect the OBBBA to have an impact on income tax expense.