v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 79,031 $ 34,712
Adjustments to reconcile net income to net cash, cash equivalents, and restricted cash provided by operating activities:    
Depreciation and amortization 13,007 15,584
Loss on disposal of property, equipment, and software 0 160
Impairment of equity-method investment 1,000 0
Loss on extinguishment of debt 8,659 0
Share-based compensation expense 11,480 13,505
Deferred income taxes 7,340 4,424
Amortization of debt issuance costs and debt discount 3,343 3,880
Write-off of debt issuance costs 0 93
Accrued interest payable in kind 0 13,301
Change in fair value of warrants (61,821) (25,344)
Non-cash lease expense 3,070 2,849
Bad debt expense 0 4,203
Changes in operating assets and liabilities:    
Accounts receivable, net (82,903) (39,047)
Commissions receivable (8,702) (33,765)
Other assets 1,261 (343)
Accounts payable and accrued expenses 53,583 41,163
Operating lease liabilities (3,459) (3,574)
Other liabilities 10,315 (5,985)
Net cash provided by operating activities 35,204 25,816
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (3,093) (1,690)
Purchases of software and capitalized software development costs (8,490) (6,513)
Net cash used in investing activities (11,583) (8,203)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from revolving credit facility 270,000 166,900
Payments on revolving credit facility (270,000) (166,900)
Net proceeds from Term Loan 315,234 0
Payments on Term Loans (314,000) (384,644)
Proceeds on ABS Notes 0 99,095
Payments on ABS Notes (15,016) (11,723)
Payments on other debt (380) (202)
Proceeds from common stock options exercised and employee stock purchase plan 0 112
Proceeds from issuance of Senior Non-Convertible Preferred Stock 0 337,855
Senior Non-Convertible Preferred Stock issuance costs 0 (7,076)
Payments of tax withholdings related to net share settlement of equity awards (2,539) (5,019)
Payments of debt issuance costs (7,730) (2,479)
Net cash (used in) provided by financing activities (24,431) 25,919
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (810) 43,532
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period 37,066 42,690
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period 36,256 86,222
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest paid, net (27,617) (50,737)
Payment of income taxes, net (220) (3,115)
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Capital expenditures in accounts payable and accrued expenses 1,114 314
Issuance of liability-classified warrants 0 137,581
Senior Non-Convertible Preferred Stock accretion 13,000 1,417
Senior Non-Convertible Preferred Stock accumulated dividends $ 41,382 $ 4,370