| Segment Reporting |
The following tables summarize key financial information by segment:
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Year Ended June 30, 2025 |
|
(In thousands) |
|
United States |
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|
Canada |
|
|
Total |
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Revenue |
|
$ |
792,182 |
|
|
$ |
110,897 |
|
|
$ |
903,079 |
|
Elimination from intersegment revenue |
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|
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(383 |
) |
Total consolidated revenue |
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$ |
902,696 |
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Less segment expenses: |
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Cost of transportation and other services |
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|
(588,976 |
) |
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(74,684 |
) |
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|
Operating partner commissions |
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|
(78,493 |
) |
|
|
— |
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|
Personnel costs |
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|
(58,078 |
) |
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(18,293 |
) |
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Other segment expenses |
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(26,616 |
) |
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(8,281 |
) |
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Segment adjusted EBITDA |
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$ |
40,019 |
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$ |
9,639 |
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$ |
49,658 |
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Year Ended June 30, 2024 |
|
(In thousands) |
|
United States |
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|
Canada |
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Total |
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Revenue |
|
$ |
683,955 |
|
|
$ |
118,756 |
|
|
$ |
802,711 |
|
Elimination from intersegment revenue |
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|
|
|
|
|
|
|
(241 |
) |
Total consolidated revenue |
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$ |
802,470 |
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|
|
|
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Less segment expenses: |
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Cost of transportation and other services |
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|
(487,416 |
) |
|
|
(78,772 |
) |
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|
|
Operating partner commissions |
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|
(92,668 |
) |
|
|
— |
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Personnel costs |
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|
(52,957 |
) |
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(19,270 |
) |
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Other segment expenses |
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(22,231 |
) |
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(7,763 |
) |
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Segment adjusted EBITDA |
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$ |
28,683 |
|
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$ |
12,951 |
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$ |
41,634 |
|
The following table presents a reconciliation of Segment adjusted EBITDA to income before income taxes:
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Year ended June 30, |
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(In thousands) |
|
2025 |
|
|
2024 |
|
Segment adjusted EBITDA |
|
$ |
49,658 |
|
|
$ |
41,634 |
|
Depreciation and amortization |
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|
(18,493 |
) |
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|
(18,552 |
) |
Share-based compensation |
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|
819 |
|
|
|
(2,611 |
) |
Change in fair value of contingent consideration |
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|
2,491 |
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|
450 |
|
Change in fair value of interest rate swap contracts |
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|
(1,032 |
) |
|
|
(1,197 |
) |
Lease termination costs |
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|
(1,491 |
) |
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|
(76 |
) |
Interest income (expense), net |
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|
(39 |
) |
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|
1,277 |
|
Other |
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|
311 |
|
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|
655 |
|
Unallocated corporate costs |
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|
(11,021 |
) |
|
|
(11,860 |
) |
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Income before income taxes |
|
$ |
21,203 |
|
|
$ |
9,720 |
|
The following table presents depreciation and amortization expense by segment:
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Year ended June 30, |
|
(In thousands) |
|
2025 |
|
|
2024 |
|
United States |
|
$ |
3,790 |
|
|
$ |
4,127 |
|
Canada |
|
|
4,058 |
|
|
|
3,948 |
|
Corporate/Eliminations |
|
|
10,645 |
|
|
|
10,477 |
|
|
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Total |
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$ |
18,493 |
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|
$ |
18,552 |
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|