XML 12 R6.htm IDEA: XBRL DOCUMENT v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited)
$ in Thousands
 9 Months Ended
Mar. 31, 2026
USD ($)
Mar. 31, 2025
USD ($)
Cash flows from operating activities:    
Net loss $ (37,972) $ (173)
Adjustments to reconcile net loss to net cash flows from operating activities:    
Proceeds from sale of real estate 7,021 0
Gain on sale of real estate (606) (109)
Depreciation and amortization 967 918
Stock-based compensation 1,798 1,512
Unrealized loss (gain) on investments 27,631 (4,105)
Realized (gain) loss on investments (3,536) 338
Non-cash interest and amortization of debt issuance costs 1,612 1,631
Change in fair value of contingent consideration 0 (6)
Other non-cash expense, net 709 1,276
Adjustments to reconcile net loss to net cash flows from operating activities of Consolidated Funds:    
Purchase of investments (3,966) (3,514)
Sales of investments 9,420 3,725
Amortization of premium and accretion of discount, net (59) (70)
Net realized and unrealized loss on investments 3,315 89
Changes in operating assets and liabilities:    
Receivables from managed funds 4,177 (5,985)
Prepaid and other assets 1,447 (1,506)
Real estate under development (4,547) (2,262)
Lease Liabilities 9 39
Related party payables (67) (374)
Accounts payable, accrued expenses and other liabilities (2,226) (1,768)
Changes in operating assets and liabilities of Consolidated Funds:    
Cash and cash equivalents 2,424 (850)
Other assets 146 17
Accrued expenses and other liabilities 53 1
Net cash flows from operating activities 7,750 (11,176)
Cash flows from investing activities:    
Purchases of investments in held-to-maturity securities 0 (7,403)
Proceeds from settlement of held-to-maturity investments 0 17,500
Proceeds from settlement of trading securities 0 34
Sales of investments 5,524 0
Purchases of investments (1,585) (4,450)
Acquisition of business 0 (2,500)
Related party loan receivable 8,000 (7,500)
Redemption of investments 85 3,886
Other (70) (370)
Net cash flows from investing activities 11,954 (803)
Cash flows from financing activities:    
Proceeds from issuance of common stock 11,860 0
Equity issuance costs (1,257) 0
Stock repurchases (6,204) (6,317)
Withholding tax payments related to restricted stock (154) 0
Redemptions of non-controlling interests in Consolidated Funds (4,132) 0
Contributions to non-controlling interests in Consolidated Funds 0 106
Distributions from non-controlling interests in Consolidated Funds (4,891) 0
Net cash provided by (used in) financing activities (4,778) (6,211)
Net increase (decrease) in cash and cash equivalents 14,926 (18,190)
Cash, cash equivalents and restricted cash at beginning of period 30,603 49,718
Cash, cash equivalents and restricted cash at end of period 45,529 31,528
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,471 1,471
Supplemental non-cash financing transactions:    
Fair value of warrants issued 726 0
Payable for securities purchased 13 $ 0
Supplemental cash flow elements    
Cash and cash equivalents 45,529  
Restricted cash 0  
Cash, cash equivalents and restricted cash $ 45,529