v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Mar. 31, 2026
Mar. 31, 2025
OPERATING ACTIVITIES:    
Net income $ 1,052,236 $ 853,700
Reconciliation of net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 38,959 29,467
Amortization of right-of-use (“ROU”) assets 26,997 10,241
Amortization of debt discount and issuance costs 17,162 6,367
Inventory valuation adjustment write-down 239,255 159,050
Stock-based compensation expense 305,558 230,840
Impairment loss 13,747 0
Share of loss (income) from equity investee 1,293 (2,053)
Unrealized foreign currency exchange (gain) loss (4,428) 2,742
Loss on extinguishment of convertible notes 0 30,251
Deferred income taxes, net (30,920) (134,401)
Other non-cash income, net (8,302) (790)
Changes in operating assets and liabilities:    
Accounts receivable, net (including changes in related party balances of $(240) and $5,878 during the nine months ended March 31, 2026 and 2025, respectively) (6,209,831) 94,782
Inventories (6,669,560) 298,847
Prepaid expenses and other assets (including changes in related party balances of $(15,028) and $(2,782) during the nine months ended March 31, 2026 and 2025, respectively) (381,738) (284,356)
Accounts payable (including changes in related party balances of $4,300 and $(49,991) during the nine months ended March 31, 2026 and 2025, respectively) 2,406,930 (811,690)
Accrued liabilities (including changes in related party balances of $286 and $571 during the nine months ended March 31, 2026 and 2025, respectively) 232,916 52,714
Income taxes payable (11,576) 5,365
Deferred revenue 1,404,262 249,421
Other long-term liabilities (including changes in related party balances of $(114) and $729 during the nine months ended March 31, 2026 and 2025, respectively) 20,193 5,414
Net cash (used in) provided by operating activities (7,556,847) 795,911
INVESTING ACTIVITIES:    
Purchases of property, plant, and equipment (including payments to related parties of $9,366 and $10,508 during the nine months ended March 31, 2026 and 2025, respectively) (133,769) (104,536)
Investment in equity securities (42,000) 0
Net cash used in investing activities (175,769) (104,536)
FINANCING ACTIVITIES:    
Proceeds from lines of credit and term loans 4,235,265 1,357,991
Repayment of lines of credit and term loans (225,068) (1,731,366)
Payment of debt issuance costs (23,483) 0
Proceeds from exercise of stock options 18,347 14,452
Payment for withholding taxes related to settlement of equity awards (102,391) (118,960)
Debt issuance costs in connection with amended 2029 Convertibles Notes 0 (31,217)
Proceeds related to Receivables Purchase Agreement, net 4,191 0
Other (26) 22
Net cash provided by financing activities 3,906,835 174,618
Effect of exchange rate fluctuations on cash (6,554) 826
Net (decrease) increase in cash, cash equivalents and restricted cash (3,832,335) 866,819
Cash, cash equivalents and restricted cash at the beginning of the period 5,172,301 1,670,273
Cash, cash equivalents and restricted cash at the end of the period 1,339,966 2,537,092
Supplemental disclosure of cash flow information:    
Cash paid for interest 81,293 24,046
Cash paid for taxes, net of refunds 270,394 270,392
Non-cash investing and financing activities:    
Unpaid property, plant and equipment purchases (including due to related parties of $2,591 and $7,111 as of March 31, 2026 and 2025, respectively) 16,778 18,283
ROU assets obtained in exchange for operating lease commitments 94,907 128,617
Transfer of inventory to property, plant and equipment 7,304 4,889
2028 Convertible Notes    
FINANCING ACTIVITIES:    
Proceeds from issuance of 2028 Convertible Notes, net of issuance costs of $16,304 $ 0 $ 683,696