v3.26.1
Leases
 9 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Leases LEASES
The majority of the Company’s leases are operating leases related to office space for which the Company recognizes lease expense on a straight-line basis over the respective lease term. The Company leases office facilities in the United States in San Diego, CA; Centennial, CO; Overland Park, KS; Olathe, KS; Oakland, CA; Indianapolis, IN; and Monaca, PA. The Company's operating leases have remaining lease terms of less than one year up to twelve years. SelectRx leases the Monaca facility from an Executive Vice President of SelectRx. The Company expects to incur $3.6 million in total rental payments over the initial ten-year term plus an additional five-year extension option that it is reasonably certain to exercise.

During the nine months ended March 31, 2026, the Company entered into one finance lease and added equipment to three existing finance leases, resulting in new right-of-use assets obtained in exchange for new lease liabilities of $0.5 million.

During the nine months ended March 31, 2025, the Company entered into four finance leases for equipment with commencement dates August 1, 2024 and September 19, 2024, resulting in new right-of-use assets obtained in exchange for new lease liabilities of $1.3 million.

During the three months ended March 31, 2025, the Company entered into one operating lease for the new Olathe, Kansas pharmacy with a commencement date of March 1, 2025, resulting in new right-of-use assets obtained in exchange for new lease liabilities of $3.8 million.

Lease Costs—The components of lease costs were as follows for the periods presented:

Three Months Ended March 31,Nine Months Ended March 31,
(in thousands)2026202520262025
Finance lease costs(1)
$217 $148 $663 $397 
Operating lease costs(2)
1,885 1,845 5,704 5,362 
Short-term lease costs66 63 199 188 
Variable lease costs(3)
189 199 614 481 
Sublease income(529)(559)(1,487)(1,673)
Total net lease costs$1,828 $1,696 $5,693 $4,755 
(1) Primarily consists of amortization of finance lease right-of-use assets and an immaterial amount of interest on finance lease liabilities recorded in selling, general, and administrative expense and interest expense, net in the condensed consolidated statements of comprehensive income.
(2) Recorded in selling, general, and administrative expense in the condensed consolidated statements of comprehensive income.
(3) Variable lease costs are not included in the measurement of the lease liability or right-of-use asset as they are not based on an index or rate and primarily represents common area maintenance charges and real estate taxes recorded in operating costs and expenses in the condensed consolidated statements of comprehensive income.

Maturities of Lease Liabilities—As of March 31, 2026, remaining maturities of lease liabilities for each of the next five fiscal years and thereafter are as follows:
(in thousands)Operating leasesFinance leasesTotal
Remainder fiscal 2026$1,962 $200 $2,162 
20277,267 773 8,040 
20286,906 697 7,603 
20297,006 417 7,423 
20304,615 30 4,645 
Thereafter12,985 — 12,985 
     Total undiscounted lease payments40,741 2,117 42,858 
Less: interest13,398 411 13,809 
     Present value of lease liabilities$27,343 $1,706 $29,049 

Sublease income—The Company subleases portions of its office facilities in Overland Park, KS and Centennial, CO, which run through July 31, 2029, and November 30, 2026, respectively. Sublease income is recorded on a straight-line basis as a reduction of lease expense in the condensed consolidated statements of comprehensive income. The Company may consider entering into additional sublease arrangements in the future.

As of March 31, 2026, the future minimum fixed sublease receipts under non-cancelable operating lease agreements are as follows:

(in thousands)Total
Remainder fiscal 2026$603 
20272,102 
20281,931 
20291,931 
2030161 
Total sublease income$6,728 
Leases LEASES
The majority of the Company’s leases are operating leases related to office space for which the Company recognizes lease expense on a straight-line basis over the respective lease term. The Company leases office facilities in the United States in San Diego, CA; Centennial, CO; Overland Park, KS; Olathe, KS; Oakland, CA; Indianapolis, IN; and Monaca, PA. The Company's operating leases have remaining lease terms of less than one year up to twelve years. SelectRx leases the Monaca facility from an Executive Vice President of SelectRx. The Company expects to incur $3.6 million in total rental payments over the initial ten-year term plus an additional five-year extension option that it is reasonably certain to exercise.

During the nine months ended March 31, 2026, the Company entered into one finance lease and added equipment to three existing finance leases, resulting in new right-of-use assets obtained in exchange for new lease liabilities of $0.5 million.

During the nine months ended March 31, 2025, the Company entered into four finance leases for equipment with commencement dates August 1, 2024 and September 19, 2024, resulting in new right-of-use assets obtained in exchange for new lease liabilities of $1.3 million.

During the three months ended March 31, 2025, the Company entered into one operating lease for the new Olathe, Kansas pharmacy with a commencement date of March 1, 2025, resulting in new right-of-use assets obtained in exchange for new lease liabilities of $3.8 million.

Lease Costs—The components of lease costs were as follows for the periods presented:

Three Months Ended March 31,Nine Months Ended March 31,
(in thousands)2026202520262025
Finance lease costs(1)
$217 $148 $663 $397 
Operating lease costs(2)
1,885 1,845 5,704 5,362 
Short-term lease costs66 63 199 188 
Variable lease costs(3)
189 199 614 481 
Sublease income(529)(559)(1,487)(1,673)
Total net lease costs$1,828 $1,696 $5,693 $4,755 
(1) Primarily consists of amortization of finance lease right-of-use assets and an immaterial amount of interest on finance lease liabilities recorded in selling, general, and administrative expense and interest expense, net in the condensed consolidated statements of comprehensive income.
(2) Recorded in selling, general, and administrative expense in the condensed consolidated statements of comprehensive income.
(3) Variable lease costs are not included in the measurement of the lease liability or right-of-use asset as they are not based on an index or rate and primarily represents common area maintenance charges and real estate taxes recorded in operating costs and expenses in the condensed consolidated statements of comprehensive income.

Maturities of Lease Liabilities—As of March 31, 2026, remaining maturities of lease liabilities for each of the next five fiscal years and thereafter are as follows:
(in thousands)Operating leasesFinance leasesTotal
Remainder fiscal 2026$1,962 $200 $2,162 
20277,267 773 8,040 
20286,906 697 7,603 
20297,006 417 7,423 
20304,615 30 4,645 
Thereafter12,985 — 12,985 
     Total undiscounted lease payments40,741 2,117 42,858 
Less: interest13,398 411 13,809 
     Present value of lease liabilities$27,343 $1,706 $29,049 

Sublease income—The Company subleases portions of its office facilities in Overland Park, KS and Centennial, CO, which run through July 31, 2029, and November 30, 2026, respectively. Sublease income is recorded on a straight-line basis as a reduction of lease expense in the condensed consolidated statements of comprehensive income. The Company may consider entering into additional sublease arrangements in the future.

As of March 31, 2026, the future minimum fixed sublease receipts under non-cancelable operating lease agreements are as follows:

(in thousands)Total
Remainder fiscal 2026$603 
20272,102 
20281,931 
20291,931 
2030161 
Total sublease income$6,728