v3.26.1
Receivables Purchase Agreement
 9 Months Ended
Mar. 31, 2026
Transfers and Servicing [Abstract]  
Receivables Purchase Agreement
Note 7. Receivables Purchase Agreement

On July 16, 2025, we entered into a Receivables Purchase Agreement (as amended, supplemented or otherwise modified from time to time, the “Receivables Purchase Agreement”), by and among, us, as seller and guarantor, MUFG Bank, Ltd. (“MUFG”), Crédit Agricole Corporate and Investment Bank, and certain other entities from time to time party thereto as purchasers (the “Purchasers”), and MUFG as administrative agent (in such capacity, the “Administrative Agent”).
Pursuant to the Receivables Purchase Agreement, we may, subject to the terms and conditions set out therein, sell certain of our accounts receivable and related rights to the Purchasers (the “Purchased Receivables”). The Receivables Purchase Agreement provides for an uncommitted facility with an initial aggregate facility limit of $1,790.0 million. The Purchasers may elect in their sole direction to purchase eligible accounts receivable offered by us under the Receivables Purchase Agreement at the applicable purchase discount. The purchase price for any Purchased Receivable will be the net invoice amount of the Purchased Receivable, minus the applicable discount, which is set at Term Secured Overnight Financing Rate (“SOFR”) (as defined in the Receivables Purchase Agreement) plus a specified discount assigned to each account debtor in the range of 1.15% - 2.80%, and calculated on the basis of a specified discount period. In the event the purchase of such Purchased Receivables is not characterized as a sale, we will be deemed to have granted a security interest in such Purchased Receivables and the proceeds thereof in favor of the Purchasers.

Trade receivables sold and discount on trade receivables sold under this program were as follows (in thousands):

Three Months Ended
March 31,		Nine Months Ended
March 31,
 20262026
Trade receivables sold$831,674 $831,674 
Discount on trade receivables (1)
$5,737 $5,737 

(1) Included in general and administrative expenses in the condensed consolidated statements of operations.

Trade receivables sold under the Receivables Purchase Agreement and subject to servicing by us that remained outstanding and uncollected, and collected as of March 31, 2026, are as follows (in thousands):

 March 31, 2026
Outstanding and uncollected$123,628 
Outstanding and collected (1)
$4,191 

(1) Amount collected but not yet remitted to purchasers as of March 31, 2026 is classified in accrued liabilities on the condensed consolidated balance sheet.