v3.26.1
Segment Reporting
 9 Months Ended 12 Months Ended
Mar. 31, 2026
Jun. 30, 2025
Segment Reporting [Abstract]    
Segment Reporting
17.
Segment Reporting

The Company is organized and operates as one reportable segment, which carries out business activities related to the design, development, manufacturing, and marketing of products and services. The Company’s chief operating decision maker (“CODM”), the Chief Executive Officer, reviews operating results and profitability metrics at a consolidated entity level for purposes of making resource allocation decisions and for evaluating financial performance.

The CODM assesses performance of the Company and decides how to allocate resources based on net income (loss) that is also reported on the consolidated income statement. Significant segment expenses are consistent with those presented on the consolidated statements of operations. The measure of segment assets is reported on the consolidated balance sheets as total assets, and total capital expenditures, depreciation, and amortization are reported on the consolidated statements of cash flows. The CODM is involved in determining and reviewing projected net income and income from operations as part of the annual operating plan process. Throughout the year, the CODM considers forecast to actual results and variances on a monthly and quarterly basis to allocate resources for the Company.

The following table presents selected financial information with respect to the Company’s single reportable segment as follows (in thousands):

 

 

 

Three Months Ended
March 31,

 

 

Nine Months Ended
March 31,

 

 

 

2025

 

 

2026

 

 

2025

 

 

2026

 

Revenues

 

$

186,224

 

 

$

378,709

 

 

$

515,575

 

 

$

958,387

 

Cost of Revenues

 

 

118,059

 

 

 

247,513

 

 

 

317,210

 

 

 

627,483

 

Gross Profit

 

 

68,165

 

 

 

131,196

 

 

 

198,365

 

 

 

330,904

 

Operating Expenses

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

 

32,108

 

 

 

78,518

 

 

 

87,911

 

 

 

200,246

 

Depreciation and amortization

 

 

13,657

 

 

 

13,342

 

 

 

46,508

 

 

 

40,069

 

Total operating expenses

 

 

45,765

 

 

 

91,860

 

 

 

134,419

 

 

 

240,315

 

Income from Operations

 

 

22,400

 

 

 

39,336

 

 

 

63,946

 

 

 

90,589

 

Total Other Expense, net

 

 

(12,065

)

 

 

(10,457

)

 

 

(37,786

)

 

 

(43,711

)

Income Tax Expense

 

 

(1,896

)

 

 

(4,404

)

 

 

(3,953

)

 

 

(6,938

)

Net Income

 

$

8,439

 

 

$

24,475

 

 

$

22,207

 

 

$

39,940

 
14.
Segment Reporting

The Company is organized and operates as one reportable segment, which carries out business activities related to the design, development, manufacture and marketing of products and services. The Company’s chief operating decision maker (“CODM”), the Chief Executive Officer, reviews operating results and profitability metrics at a consolidated entity level for purposes of making resource allocation decisions and for evaluating financial performance.

The accounting policies of the consolidated segment are the same as those described in the summary of significant accounting policies. The CODM assesses performance of the Company and decides how to allocate resources based on net income (loss) that is also reported on the consolidated income statement. Significant segment expenses are consistent with those presented on the consolidated statements of operations. The measure of segment assets is reported on the consolidated balance sheets as total assets, and total capital expenditures and depreciation and amortization is reported on the consolidated statements of cash flows. The CODM is involved in determining and reviewing projected net income and income from operations as part of the annual operating plan process.

Throughout the year, the CODM considers forecast to actual results and variances on a monthly and quarterly basis to allocate resources for the Company.

The following table presents selected financial information with respect to the Company’s single operating segment as follows (in thousands):

 

 

Predecessor

 

 

 

Successor

 

 

Period from
July 1, 2023
to October 31,
2023

 

 

 

Period from
Inception to
June 30,
2024

 

 

Year Ended
June 30,
2025

 

Revenues

 

$

64,478

 

 

 

$

181,310

 

 

$

753,188

 

Cost of Revenues

 

 

40,664

 

 

 

 

113,570

 

 

 

475,122

 

Gross Profit

 

 

23,814

 

 

 

 

67,740

 

 

 

278,066

 

Operating Expenses

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

 

11,321

 

 

 

 

52,077

 

 

 

146,270

 

Depreciation and amortization

 

 

93

 

 

 

 

20,418

 

 

 

59,559

 

Total Operating Expenses

 

 

11,414

 

 

 

 

72,495

 

 

 

205,829

 

Income (Loss) from Operations

 

 

12,400

 

 

 

 

(4,755

)

 

 

72,237

 

Total Other Expense, net

 

 

(749

)

 

 

 

(20,404

)

 

 

(49,451

)

Income Tax (Expense) Benefit

 

 

(3,190

)

 

 

 

5,957

 

 

 

(5,340

)

Net Income (Loss)

 

$

8,461

 

 

 

$

(19,202

)

 

$

17,446

 

 

All of the Company’s long-lived tangible assets, as well as the Company’s operating lease right-of-use assets recognized on the consolidated balance sheets were located within North America. Substantially all of the Company’s revenues are generated in North America.