v3.26.1
Segment Reporting
 6 Months Ended 12 Months Ended
Dec. 31, 2025
Jun. 30, 2025
Segment Reporting [Abstract]    
Segment Reporting
13.
Segment Reporting
The Company is organized and operates as one reportable segment, which carries out business activities related to the design, development, manufacturing, and marketing of products and services. The Company’s chief operating decision maker (“CODM”), the Chief Executive Officer, reviews operating results and profitability metrics at a consolidated entity level for purposes of making resource allocation decisions and for evaluating financial performance.
The CODM assesses performance of the Company and decides how to allocate resources based on net income (loss) that is also reported on the consolidated income statement. Significant segment expenses are consistent with those presented on the consolidated statements of operations. The measure of segment assets is reported on the consolidated balance sheets as total assets, and total capital expenditures, depreciation, and amortization are reported on the consolidated statements of cash flows. The CODM is involved in determining and reviewing projected net income and income from operations as part of the annual operating plan process. Throughout the year, the CODM considers forecast to actual results and variances on a monthly and quarterly basis to allocate resources for the Company.
 
 
The following table presents selected financial information with respect to the Company’s single reportable segment as follows (in thousands):
 
    
Three Months Ended
December 31,
    
Six Months Ended
December 31,
  
    
2024
    
2025
    
2024
    
2025
  
Revenues
    $ 175,338     $ 296,404     $ 329,351     $ 579,678  
Cost of Revenues
      111,583       194,648       199,151       379,970  
  
 
 
    
 
 
    
 
 
    
 
 
  
Gross Profit
      63,755       101,756       130,200       199,708  
  
 
 
    
 
 
    
 
 
    
 
 
  
Operating Expenses
         
Selling, general and administrative expenses
      29,656       68,145       55,803       121,728  
Depreciation and amortization
      15,154       13,521       32,851       26,727  
  
 
 
    
 
 
    
 
 
    
 
 
  
Total operating expenses
      44,810       81,666       88,654       148,455  
  
 
 
    
 
 
    
 
 
    
 
 
  
Income from Operations
      18,945       20,090       41,546       51,253  
Total Other Expense, net
      (11,668 )      (20,581 )      (25,721 )      (33,254 ) 
Income Tax Benefit (Expense)
      (846 )      400       (2,057 )      (2,534 ) 
  
 
 
    
 
 
    
 
 
    
 
 
  
Net (Loss) Income
    $ 6,431     $ (91 )    $ 13,768     $ 15,465  
  
 
 
    
 
 
    
 
 
    
 
 
  
14.
Segment Reporting
The Company is organized and operates as one reportable segment, which carries out business activities related to the design, development, manufacture and marketing of products and services. The Company’s chief operating decision maker (“CODM”), the Chief Executive Officer, reviews operating results and profitability metrics at a consolidated entity level for purposes of making resource allocation decisions and for evaluating financial performance.
The accounting policies of the consolidated segment are the same as those described in the summary of significant accounting policies. The CODM assesses performance of the Company and decides how to allocate resources based on net income (loss) that is also reported on the consolidated income statement. Significant segment expenses are consistent with those presented on the consolidated statements of operations. The measure of segment assets is reported on the consolidated balance sheets as total assets, and total capital expenditures and depreciation and amortization is reported on the consolidated statements of cash flows. The CODM is involved in determining and reviewing projected net income and income from operations as part of the annual operating plan process. Throughout the year, the CODM considers forecast to actual results and variances on a monthly and quarterly basis to allocate resources for the Company.
 
 
The following table presents selected financial information with respect to the Company’s single operating segment as follows (in thousands):
 
    
Predecessor
           
Successor
  
    
Period from
July 1, 2023
to October 31,
2023
           
Period from
Inception to
June 30,
2024
    
Year Ended
June 30,
2025
  
Revenues
    $ 64,478          $ 181,310     $ 753,188  
Cost of Revenues
      40,664            113,570       475,122  
  
 
 
         
 
 
    
 
 
  
Gross Profit
      23,814            67,740       278,066  
  
 
 
         
 
 
    
 
 
  
Operating Expenses
            
Selling, general and administrative expenses
      11,321            52,077       146,270  
Depreciation and amortization
      93            20,418       59,559  
  
 
 
         
 
 
    
 
 
  
Total Operating Expenses
      11,414            72,495       205,829  
  
 
 
         
 
 
    
 
 
  
Income (Loss) from Operations
      12,400            (4,755 )      72,237  
Total Other Expense, net
      (749 )           (20,404 )      (49,451 ) 
Income Tax (Expense) Benefit
      (3,190 )           5,957       (5,340 ) 
  
 
 
         
 
 
    
 
 
  
Net Income (Loss)
    $ 8,461          $ (19,202 )    $ 17,446  
  
 
 
         
 
 
    
 
 
  
All of the Company’s long-lived tangible assets, as well as the Company’s operating lease
right-of-use
assets recognized on the consolidated balance sheets were located within North America. Substantially all of the Company’s revenues are generated in North America.