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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash Flows from Operating Activities    
Net income $ 39,940 $ 22,207
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 50,406 49,775
Amortization / write off of discounts and deferred financing costs 11,682 1,955
Deferred taxes 3,646 (2,909)
Provision (recovery) for credit losses 1,552 (446)
Provision for slowing-moving and excess inventory 3,898 353
Equity-based compensation 5,544 1,272
Reduction in carrying amount of ROU asset, operating leases 6,990 6,037
Changes in assets and liabilities:    
Accounts receivable (116,174) (49,811)
Inventory (65,817) (26,689)
Prepaid and other assets (3,987) (16,044)
Accounts payable 42,750 24,717
Accrued expenses 37,071 8,689
Deferred revenue 22,619 34,823
Lease liabilities, operating leases (4,940) (1,698)
Net Cash Provided by Operating Activities 35,180 52,231
Cash Flows from Investing Activities    
Purchases of property and equipment (84,604) (43,088)
Net Cash Used in Investing Activities (84,604) (43,088)
Cash Flows from Financing Activities    
Proceeds from long-term debt 594,000 0
Payments on long-term debt (511,110) (3,879)
Debt financing costs (11,757) 0
Distribution to member (1,440) 0
Payment of payable pursuant to the acquisitions (16,145) (13,066)
Deferred offering costs (21,615) (3,310)
Net Cash Provided by (Used in) Financing Activities 31,933 (20,255)
Net Decrease in Cash and Cash Equivalents (17,491) (11,112)
Cash and Cash Equivalents - Beginning of Period 111,322 186,396
Cash and Cash Equivalents - End of Period 93,831 175,284
Supplemental Cash Flows Information:    
Cash paid for interest 34,525 42,431
Cash paid for taxes 1,960 1,879
Non-cash financing activities:    
Recording of deferred tax assets related to exchanges of Class B common stock to Class A common stock 196,324 0
Recording of amounts payable pursuant to tax receivable agreement 207,286 0
Capital contribution related to tax receivable agreement exchanges of Class B common stock to Class A common stock 8,647 0
Reclassification of deferred offering costs to additional paid-in capital 4,472 0
IPO    
Cash Flows from Financing Activities    
Purchase of OpCo LLC Interests from Existing Shareholders (491,833) 0
Follow-On Offering    
Cash Flows from Financing Activities    
Purchase of OpCo LLC Interests from Existing Shareholders (308,561) 0
Class A Common Stock    
Cash Flows from Financing Activities    
Proceeds from issuance of Class A common stock, net of underwriting discounts and commissions 491,833 0
Proceeds from issuance of Class A common stock sold in follow-on offering, net of underwriting discounts and commissions $ 308,561 $ 0