On July 3, 2025, the Company's board of directors declared a regular cash dividend of $0.20 per share of common stock to stockholders of record at the close of business on July 18, 2025. The dividend was paid on August 1, 2025 and totaled $4.9 million.

On October 28, 2025, the Company's board of directors declared a regular dividend of $0.20 per share of common stock to stockholders of record at the close of business on November 19, 2025. The dividend was paid on December 2, 2025 and totaled $4.9 million.

On February 2, 2026, the Company's board of directors declared a regular dividend of $0.20 per share of common stock to stockholders of record at the close of business on February 20, 2026. The dividend was paid on March 4, 2026 and totaled $5.7 million.

The Company has an ongoing share repurchase program authorizing the purchase of up to 2.0 million shares of common stock as of March 31, 2026. During April 2026, the Company's board of directors authorized an additional 1.3 million shares to be repurchased under the program. As of March 31, 2026, 678,997 shares remained authorized for repurchase under the program. During the nine months ended March 31, 2026, we did not repurchase any shares under our share repurchase program. From inception of the program through March 31, 2026, we repurchased a total of 1,321,003 shares for $37.3 million, of which 139,455 shares were repurchased from a related party (see Note 14 for further information). We are not obligated to repurchase any shares under the program, and repurchases under the program may be discontinued if management determines that additional repurchases are not warranted.

In February 2026, the Company entered into a definitive agreement with TPM, S.A. de C.V. (“Tether”), whereby Tether purchased $126.4 million of the Company’s common stock. In May 2026, following the receipt of clearance under the Hart-Scott-Rodino Act, Tether purchased an additional $23.6 million of the Company’s common stock. The purchase price for the common stock was $44.50 per share. The shares purchased by Tether were subject to a 90-day resale restriction which ended May 7, 2026. The Company also entered into an investor rights agreement, under which Tether was entitled to nominate a member to the Company’s board of directors and received certain registration rights. During the three months ended March 31, 2026, the Company incurred transaction costs of $8.8 million related to the sale of common stock to Tether, resulting in net proceeds of $117.6 million.

The Company's amended and restated 2014 Stock Award and Incentive Plan (the "2014 Plan") was approved most recently on October 27, 2022 by the Company's stockholders. As of March 31, 2026, 1,414,136 shares were available for issuance of new awards under the 2014 Plan. Under the 2014 Plan, the Company may grant stock options, restricted stock, RSUs, SARs, and other equity-based or cash incentive awards to employees, directors, and consultants. The plan permits performance-based and market-based conditions on awards. Authority to grant new awards under the plan expires on October 27, 2032.

The Company measures the compensation cost of stock options using the Black-Scholes option pricing model, which uses various inputs such as the market price per share of common stock and estimates that include the risk-free interest rate, volatility, expected life and dividend yield.

The Company incurred compensation expense related to stock options of $0.1 million and $0.1 million during the three months ended March 31, 2026 and 2025, respectively, and $0.3 million and $0.1 million during the nine months ended March 31, 2026 and 2025, respectively. As of March 31, 2026, there was total remaining compensation expense of $1.3 million related to employee stock options, which will be recorded over a weighted-average vesting period of approximately 2.2 years. The Company recognizes forfeitures as they occur. The following table summarizes stock option activity:


	Options			Weighted-Average Exercise Price Per Share		Aggregate Intrinsic Value (in thousands)		Weighted-Average Grant Date Fair Value Per Award (1)
Fiscal 2025
Outstanding at June 30, 2024		1,158,530		$	7.10	$	29,354	$	3.53
Grants		40,000		$	27.18	$	—	$	11.27
Exercises		(230,668	)	$	14.23	$	6,828	$	6.56
Outstanding at March 31, 2025		967,862		$	6.23	$	18,743	$	3.13
Nonvested outstanding March 31, 2025		45,000		$	28.57	$	—	$	11.70
Exercisable at March 31, 2025		922,862		$	5.14	$	18,743	$	2.70

Fiscal 2026
Outstanding at June 30, 2025		1,177,862		$	9.68	$	15,728	$	4.39
Grants		33,000		$	22.88	$	585	$	7.65
Exercises		(357,035	)	$	9.94	$	10,891	$	3.64
Forfeitures		(100,000	)	$	25.24	$	—	$	10.09
Outstanding at March 31, 2026		753,827		$	8.07	$	24,147	$	4.19
Nonvested outstanding March 31, 2026		176,333		$	24.95	$	2,685	$	10.01
Exercisable at March 31, 2026		577,494		$	2.92	$	21,462	$	2.42

(1)

The Company issued the options with an exercise price per share not less than the closing market price of common stock on the grant date.


Exercise Price Ranges				Options Outstanding						Options Exercisable
From		To		Number of Underlying Shares		Weighted-Average Remaining Contractual Life (Years)		Weighted-Average Exercise Price		Number of Underlying Shares		Weighted-Average Remaining Contractual Life (Years)		Weighted-Average Exercise Price
$	—	$	2.50		437,294		3.65	$	1.61		437,294		3.65	$	1.61
$	2.51	$	5.00		99,200		2.40	$	3.51		99,200		2.40	$	3.51
$	5.01	$	20.00		36,000		4.29	$	13.81		36,000		4.29	$	13.81
$	20.01	$	30.00		178,333		9.05	$	24.66		5,000		8.92	$	27.18
$	30.01	$	60.00		3,000		9.97	$	46.01		—		—	$	—
					753,827		4.82	$	8.07		577,494		3.52	$	2.92

RSUs granted by the Company are not transferable and automatically convert to shares of common stock on a one-for-one basis as the awards vest or at a specified date after vesting. RSUs granted to a non-U.S. citizen are referred to as "deferred stock units" or "DSUs". The Company measures the compensation cost of RSUs based on the closing price of the underlying shares at the grant date. The Company recognizes forfeitures as they occur.

The Company incurred compensation expense related to RSUs of $0.4 million and $0.3 million during the three months ended March 31, 2026 and 2025, and $1.0 million and $0.9 million during the nine months ended March 31, 2026 and 2025, respectively. As of March 31, 2026, there was $1.5 million of remaining compensation expense related to RSUs, which will be recorded over a weighted-average vesting period of approximately 1.7 years. The following table summarizes RSU activity:


	Awards Outstanding			Weighted-Average Fair Value per Unit at Grant Date
Fiscal 2025
Nonvested outstanding at June 30, 2024		61,317		$	30.61
Granted		16,056		$	29.92
Vested & delivered		(5,407	)	$	25.77
Vested & deferred (1)		(14,118	)	$	25.90
Nonvested outstanding at March 31, 2025		57,848		$	32.11
Vested but subject to deferred settlement at March 31, 2025 (1)		56,065		$	26.02
Outstanding at March 31, 2025		113,913		$	29.11
Fiscal 2026
Nonvested outstanding at June 30, 2025		82,690		$	26.59
Granted		32,086		$	26.58
Vested & delivered		(7,316	)	$	28.42
Vested & deferred (1)		(11,903	)	$	29.25
Nonvested outstanding at March 31, 2026		95,557		$	26.08
Vested but subject to deferred settlement at March 31, 2026 (1)		57,742		$	31.90
Outstanding at March 31, 2026 (2)		153,299		$	28.27

(1)

Certain RSU holders elected to defer settlement of the RSUs to a specified date. The DSU holder is contractually obligated to defer settlement of the DSUs to a specified date following the holder’s termination of service.

(2)

Includes 3,133 RSUs that vest based on continuous employment and achievement of non-market performance goals through June 30, 2026.

Effective in the first quarter of fiscal 2024, the Company granted its chief executive officer a cash incentive bonus payable at the end of the fiscal 2024–2027 term, based on two percent of total stockholder return, net of salary and annual bonuses. The award is valued using a Black-Scholes model. The grant date fair value of this liability award was $5.7 million. The fair value of this liability award was $3.6 million as of March 31, 2026 resulting from the following assumptions: a performance bonus estimate of $2.0 million to be paid over the four-year term, a risk-free rate of 3.7%, and an equity volatility of 55.0%.

Compensation expense is recognized on a straight-line basis over the performance period, with the amount recognized fluctuating due to remeasurement of fair value at the end of each reporting period. The Company recognized compensation expense (income) related to this cash incentive bonus award of $1.1 million and $0.0 million during the three months ended March 31, 2026 and 2025, respectively, and $2.0 million and ($0.2 million) during the nine months ended March 31, 2026 and 2025, respectively.