v3.25.2
DISCONTINUED OPERATIONS AND EXIT ACTIVITIES (Tables)
 12 Months Ended
Jun. 30, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Major Classes of Assets and Liabilities and Major Components of Net Income (Loss) From Discontinued Operations
The following table summarizes the major classes of assets and liabilities classified as discontinued operations at June 30, 2025 and June 30, 2024 (in thousands):
June 30, 2025June 30, 2024
Assets
Accounts receivable$— $25,730 
Inventory— 79,799 
Prepaid expenses and other current assets— 6,893 
Deferred income tax assets
— 3,200 
Other assets
— 4,040 
Current assets of discontinued operations
$— $119,662 
Liabilities
Accounts payable$— $37,750 
Accrued expenses14 7,003 
Accrued compensation and benefits82 971 
Current liabilities of discontinued operations
$96 $45,724 
The following table summarizes the major components of net (loss) income from discontinued operations for the years ended June 30, 2025, 2024 and 2023 (in thousands):
Year Ended June 30,
202520242023
Net revenue$50,485 $210,352 $240,758 
Cost of revenue46,055 189,464 221,719 
Gross profit4,430 20,888 19,039 
Operating expenses:
Selling, general, and administrative7,671 19,314 20,537 
Amortization of purchased intangible assets— 248 541 
Operating expenses7,671 19,562 21,078 
Operating (loss) income from discontinued operations(3,241)1,326 (2,039)
Other (expense) income(53,156)1,943 177 
Net (loss) income from discontinued operations before income taxes(56,397)3,269 (1,862)
Income tax (benefit) expense(14,496)769 (972)
Net (loss) income from discontinued operations, net of tax, attributable to stockholders$(41,901)$2,500 $(890)