Income Taxes |
9 Months Ended |
|---|---|
Mar. 31, 2025 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes Effective Tax Rate During the three and nine months ended March 31, 2025, our effective tax rates were zero and (0.1)%, respectively. During the three and nine months ended March 31, 2024 our effective tax rates were zero. The effective tax rates during fiscal 2025 were impacted by valuation allowances of $1.2 million and $4.3 million, respectively, placed on deferred tax assets generated during the three and nine months ended March 31, 2025. The effective tax rates during fiscal 2024 were impacted by valuation allowances of $4.4 million and $5.8 million, respectively, placed on deferred tax assets during the three and nine months ended March 31, 2024. Valuation Allowance We placed a valuation allowance on our deferred tax assets in fiscal 2022 due to the existence of a cumulative loss over a three-year period. Currently, we place valuation allowances on newly generated deferred tax assets. We will realize the benefit associated with the deferred tax assets for which the valuation allowance has been provided as we generate taxable income.
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