In November 2025, the Board of Directors of the Company approved a new share repurchase program (the “Repurchase Program”) that authorizes the Company to repurchase its common shares from the open market pursuant to a pre-established Rule 10b5-1 trading plan or through privately negotiated transactions up to an aggregate of $30.0 million. The amount and timing of any repurchases under the Repurchase Program depend on a number of factors, including but not limited to, the trading price, volume and availability of the Company’s common shares. Shares repurchased under this program are accounted for as treasury shares and the total cost of shares repurchased is recorded as a reduction of shareholders' equity. From time to time, treasury shares may be reissued as part of the Company’s share-based compensation programs. Gains on the reissuance of treasury stock are credited to additional paid-in capital; losses are charged to additional paid-in capital to offset the net gains, if any, from previous sales or reissuance of treasury stock. Any remaining balance of the losses is charged to retained earnings.

During the nine months ended March 31, 2026, the Company repurchased an aggregate of 941,883 shares from the open market, for a total cost of $18.1 million, excluding fees and related expenses, at an average price of $19.22 per share. As of March 31, 2026, approximately $11.9 million remained available under the Repurchase Program.


	Number of Time-based Restricted Stock Units	Weighted Average Grant Date Fair Value Per Share		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Nonvested at June 30, 2025	1,491,926	$	28.50	1.66	$	38,282,821
Granted	756,381	$	22.42
Vested	(533,089)	$	30.63
Forfeited	(94,803)	$	29.27
Nonvested at March 31, 2026	1,620,415	$	24.91	1.85	$	35,908,396

During the quarters ended of December 31, 2021 and September 30, 2018, the Company granted 1.0 million and 1.3 million of MSUs to certain personnel, respectively. For additional information, refer to “Note 10 — Share-based Compensation” in the Notes to the Consolidated Financial Statements within Item 8 of the Company’s 2025 Form 10-K. In March 2026, the Company reassessed the estimated achievement of the performance conditions associated with the MSUs granted in December 2021, and concluded that a lower outcome was estimated to be achieved. As a result, the Company reversed $3.2 million of expenses previously recognized in prior periods during the quarter ended March 31, 2026. The Company recorded $(2.3) million and $0.5 million of MSUs expenses for the three and nine months ended March 31, 2026, respectively, and $1.5 million and $4.1 million of expenses during the three and nine months ended March 31, 2025, respectively.


	Number of Market-based Restricted Stock Units	Weighted Average Grant Date Fair Value Per Share		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Nonvested at June 30, 2025	1,436,000	$	32.32	2.89	$	36,847,760

Vested	(267,500)	$	5.17
Forfeited	(74,000)	$	48.44
Nonvested at March 31, 2026	1,094,500	$	37.86	2.64	$	24,254,120

In March of each year since year 2017, the Company granted PRSUs to certain personnel. The number of shares to be earned under the PRSUs is determined based on the level of attainment of predetermined financial goals. The PRSUs vest in four equal annual installments from the first anniversary date after the grant date if certain predetermined financial goals were met. The Company recorded approximately $1.1 million and $3.4 million of expenses, using the accelerated attribution method, for these PRSUs during the three and nine months ended March 31, 2026, respectively, and $1.0 million and $2.9 million for the three and nine months ended March 31, 2025, respectively.


	Number of Performance-based Restricted Stock Units	Weighted Average Grant Date Fair Value Per Share		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Nonvested at June 30, 2025	409,563	$	27.71	1.85	$	10,509,387
Granted	204,000	$	21.43
Vested	(138,808)	$	30.75
Forfeited	(11,817)	$	46.07
Nonvested at March 31, 2026	462,938	$	23.56	2.07	$	10,258,706

The assumptions used to estimate the fair values of common shares issued under the ESPP were as follows:



			Nine Months Ended March 31,
			2026
Volatility rate			76.0%
Risk-free interest rate			3.7%
Expected term			1.3 years
Dividend yield			—%


	Three Months Ended March 31,				Nine Months Ended March 31,
	2026		2025		2026		2025
	(in thousands)				(in thousands)
Cost of goods sold	$	1,071	$	1,047	$	3,368	$	3,185
Research and development	1,231		1,890		5,378		6,018
Selling, general and administrative	2,799		4,199		11,760		12,785
	$	5,101	$	7,136	$	20,506	$	21,988