v3.25.2
Income Taxes (Tables)
12 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense

The significant components of income tax expense are as follows:

 

Year ended June 30,

 

(In thousands)

2025

 

 

2024

 

Current:

 

 

 

 

 

Federal

$

1,930

 

 

$

1,265

 

State

 

944

 

 

 

341

 

Foreign

 

1,460

 

 

 

2,052

 

Total current

 

4,334

 

 

 

3,658

 

 

 

 

 

 

 

Deferred:

 

 

 

 

 

Federal

 

(244

)

 

 

(1,629

)

State

 

(165

)

 

 

(707

)

Foreign

 

(160

)

 

 

201

 

Total deferred

 

(569

)

 

 

(2,135

)

 

 

 

 

 

 

Income tax expense

$

3,765

 

 

$

1,523

 

Schedule of Effective Income Tax Rate Reconciliation

The following table reconciles income taxes based on the U.S. statutory tax rate to the Company’s income tax expense:

 

Year ended June 30,

 

(In thousands)

2025

 

 

2024

 

Income tax expense at U.S. statutory rate (21%)

$

4,453

 

 

$

2,041

 

State income taxes, net of federal benefit

 

616

 

 

 

(290

)

Foreign tax rate differential

 

143

 

 

 

404

 

Permanent differences

 

474

 

 

 

274

 

Share-based compensation

 

(358

)

 

 

(42

)

GILTI & FDII

 

(222

)

 

 

(161

)

Minority interest from partnership

 

(31

)

 

 

(107

)

Loss on subsidiary

 

(1,100

)

 

 

 

Amended tax return impact

 

 

 

 

(377

)

Return to provision true-ups

 

(12

)

 

 

(179

)

Other, net

 

(198

)

 

 

(40

)

 

 

 

 

 

 

Income tax expense

$

3,765

 

 

$

1,523

 

Schedule of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities are as follows:

 

June 30,

 

(In thousands)

2025

 

 

2024

 

Deferred tax assets (liabilities):

 

 

 

 

 

Allowance for credit losses

$

449

 

 

$

437

 

Accruals

 

1,283

 

 

 

1,075

 

Share-based compensation

 

905

 

 

 

1,664

 

Operating lease liabilities

 

15,904

 

 

 

14,376

 

Operating lease ROU asset

 

(14,158

)

 

 

(12,685

)

Property, technology, and equipment basis differences

 

(1,581

)

 

 

(2,368

)

Goodwill deductible for tax purposes

 

(7,106

)

 

 

(4,419

)

Intangible assets

 

3,427

 

 

 

2,010

 

Other, net

 

(905

)

 

 

(902

)

 

 

 

 

 

 

Net deferred tax liabilities

$

(1,782

)

 

$

(812

)