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Property and Equipment, net
9 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
Property and Equipment, net Property and Equipment, net
Property and equipment, net consisted of the following (in thousands):
Estimated Useful
Lives (Years)
March 31,
2026
June 30,
2025
Machines and equipment
3-10
$78,047 $41,067 
Leasehold improvements
7-10
69,715 40,422 
Vehicles51,491 1,386 
Furniture and fixtures
3-7
3,651 1,253 
Software74,035 3,501 
Construction in progress41,504 27,891 
198,443 115,520 
Less: accumulated depreciation(19,069)(7,350)
Property and equipment, net$179,374 $108,170 
Construction in progress is primarily related to the expansion of both new and currently leased manufacturing campuses. These assets will be placed in service and reclassified to machinery and equipment and leasehold improvements when the related projects are complete.
Depreciation expense for the three months ended March 31, 2026 and 2025 was $6.4 million and $1.4 million, respectively. During the three months ended March 31, 2026, $4.8 million and $1.6 million were allocated to cost of revenues and operating expenses, respectively. During the three months ended March 31, 2025, $1.1 million and $0.3 million were allocated to cost of revenues and operating expenses, respectively.
Depreciation expense for the nine months ended March 31, 2026 and 2025 was $13.4 million and $3.9 million, respectively. During the nine months ended March 31, 2026, $10.4 million and $3.0 million were allocated to cost of revenues and operating expenses, respectively. During the nine months ended March 31, 2025, $3.1 million and $0.8 million were allocated to cost of revenues and operating expenses, respectively.