v3.25.4
Stock-Based Compensation (Tables)
 6 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Assumptions of Grant Date Fair Value The following table summarizes the assumptions used to calculate the grant date fair value of the Tranche 3 RSUs
granted on August 6, 2024:
Expected term for performance period (in years)
4.9
Expected volatility
74.6%
Risk-free interest rate
3.7%
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award A summary of the Group's employee RSUs activity for the six months ended December 31, 2025 is as follows (in
numbers and dollars):
Balance at July 1, 2025
Granted
Vested
Forfeited
Balance at December
31, 2025
IPO Awards:
Tranche 1
395,000
—
(50,000)
(55,000)
290,000
Tranche 2
97,500
—
—
(2,500)
95,000
Tranche 3
297,500
—
—
(102,500)
195,000
Retention Awards
46,650
25,000
(46,150)
(500)
25,000
Total RSUs (1)
836,650
25,000
(96,150)
(160,500)
605,000
Weighted average grant date fair value
$20.99
$19.94
$21.73
$20.40
$20.98
(1) As of December 31, 2025, 605,000 RSU's are expected to vest.
Schedule of Stock-Based Compensation Costs Recognized The following table presents the stock-based compensation costs recognized related to our RSUs for the three months
ended December 31, 2025 (in thousands, expect remaining contractual term):
Three months ended December 31, 2025
Stock-Based
Compensation Cost
Incurred
Remaining costs to
recognize, if all
vesting conditions are
met
Weighted average
remaining
contractual term (in
years)
IPO Awards (Tranche 1)
$552
$3,246
1.50
IPO Awards (Tranche 2)
181
1,063
1.50
IPO Awards (Tranche 3)
335
1,973
1.50
Retention Awards - granted FY25
178
—
1.50
Retention Awards - granted FY26
42
414
2.50
Less: Forfeitures
—
—
Total cost incurred
$1,288
$6,696
Total stock compensation costs capitalized
$703
Total stock compensation costs expensed
585
Total cost incurred
$1,288
Six months ended December 31, 2025
Stock-Based
Compensation Cost
Incurred
Remaining costs to
recognize, if all
vesting conditions are
met
Weighted average
remaining
contractual term (in
years)
IPO Awards (Tranche 1)
$1,112
$3,246
1.50
IPO Awards (Tranche 2)
366
1,063
1.50
IPO Awards (Tranche 3)
675
1,973
1.50
Retention Awards - granted FY25
377
—
1.50
Retention Awards - granted FY26
85
414
2.50
Less: Forfeitures
(1,354)
—
Total cost incurred
$1,260
$6,696
Total stock compensation costs capitalized
$1,281
Total stock compensation costs expensed
(22)
Total cost incurred
$1,260