0001157408 us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember 2025-07-01 2026-06-30 0001157408 us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember 2024-07-01 2025-06-30 0001157408 us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember 2023-07-01 2024-06-30 0001157408 us-gaap:InventoryValuationReserveMember 2025-07-01 2026-06-30 0001157408 us-gaap:AllowanceForCreditLossMember 2025-07-01 2026-06-30 0001157408 lrn:StudentComputerReserveMember 2025-07-01 2026-06-30 0001157408 us-gaap:InventoryValuationReserveMember 2024-07-01 2025-06-30 0001157408 us-gaap:AllowanceForCreditLossMember 2024-07-01 2025-06-30 0001157408 lrn:StudentComputerReserveMember 2024-07-01 2025-06-30 0001157408 us-gaap:InventoryValuationReserveMember 2023-07-01 2024-06-30 0001157408 us-gaap:AllowanceForCreditLossMember 2023-07-01 2024-06-30 0001157408 lrn:StudentComputerReserveMember 2023-07-01 2024-06-30 0001157408 us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember 2026-06-30 0001157408 us-gaap:InventoryValuationReserveMember 2026-06-30 0001157408 us-gaap:AllowanceForCreditLossMember 2026-06-30 0001157408 lrn:StudentComputerReserveMember 2026-06-30 0001157408 us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember 2025-06-30 0001157408 us-gaap:InventoryValuationReserveMember 2025-06-30 0001157408 us-gaap:AllowanceForCreditLossMember 2025-06-30 0001157408 lrn:StudentComputerReserveMember 2025-06-30 0001157408 us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember 2024-06-30 0001157408 us-gaap:InventoryValuationReserveMember 2024-06-30 0001157408 us-gaap:AllowanceForCreditLossMember 2024-06-30 0001157408 lrn:StudentComputerReserveMember 2024-06-30 0001157408 us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember 2023-06-30 0001157408 us-gaap:InventoryValuationReserveMember 2023-06-30 0001157408 us-gaap:AllowanceForCreditLossMember 2023-06-30 0001157408 lrn:StudentComputerReserveMember 2023-06-30 0001157408 us-gaap:TreasuryStockCommonMember 2025-07-01 2026-06-30 0001157408 us-gaap:TreasuryStockCommonMember 2026-06-30 0001157408 us-gaap:RetainedEarningsMember 2026-06-30 0001157408 us-gaap:AdditionalPaidInCapitalMember 2026-06-30 0001157408 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2026-06-30 0001157408 us-gaap:TreasuryStockCommonMember 2025-06-30 0001157408 us-gaap:RetainedEarningsMember 2025-06-30 0001157408 us-gaap:AdditionalPaidInCapitalMember 2025-06-30 0001157408 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-06-30 0001157408 us-gaap:TreasuryStockCommonMember 2024-06-30 0001157408 us-gaap:RetainedEarningsMember 2024-06-30 0001157408 us-gaap:AdditionalPaidInCapitalMember 2024-06-30 0001157408 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-06-30 0001157408 us-gaap:TreasuryStockCommonMember 2023-06-30 0001157408 us-gaap:RetainedEarningsMember 2023-06-30 0001157408 us-gaap:AdditionalPaidInCapitalMember 2023-06-30 0001157408 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-06-30 0001157408 us-gaap:CommonStockMember 2026-06-30 0001157408 us-gaap:CommonStockMember 2025-06-30 0001157408 us-gaap:CommonStockMember 2024-06-30 0001157408 us-gaap:CommonStockMember 2023-06-30 0001157408 lrn:EquityAwardIncentivePlan2016Member 2025-12-04 2025-12-04 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2023LongTermIncentivePlanMember us-gaap:ShareBasedCompensationAwardTrancheOneMember 2024-09-01 2024-09-30 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2023LongTermIncentivePlanMember us-gaap:ShareBasedCompensationAwardTrancheOneMember 2024-07-01 2024-07-31 0001157408 lrn:EquityAwardIncentivePlan2016Member 2026-06-30 0001157408 us-gaap:RestrictedStockMember 2025-06-30 0001157408 us-gaap:PerformanceSharesMember 2025-06-30 0001157408 lrn:DeferredStockUnitsMember 2025-06-30 0001157408 us-gaap:RestrictedStockMember 2024-06-30 0001157408 us-gaap:PerformanceSharesMember 2024-06-30 0001157408 lrn:DeferredStockUnitsMember 2024-06-30 0001157408 us-gaap:RestrictedStockMember 2023-06-30 0001157408 us-gaap:PerformanceSharesMember 2023-06-30 0001157408 lrn:DeferredStockUnitsMember 2023-06-30 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2026LongTermIncentivePlanMember us-gaap:ShareBasedCompensationAwardTrancheTwoMember 2025-07-01 2026-06-30 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2026LongTermIncentivePlanMember us-gaap:ShareBasedCompensationAwardTrancheOneMember 2025-07-01 2026-06-30 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2025LongTermIncentivePlanMember us-gaap:ShareBasedCompensationAwardTrancheTwoMember 2025-07-01 2026-06-30 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2025LongTermIncentivePlanMember us-gaap:ShareBasedCompensationAwardTrancheOneMember 2025-07-01 2026-06-30 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2024LongTermIncentivePlanMember us-gaap:ShareBasedCompensationAwardTrancheTwoMember 2025-07-01 2026-06-30 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2024LongTermIncentivePlanMember us-gaap:ShareBasedCompensationAwardTrancheOneMember 2025-07-01 2026-06-30 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2023LongTermIncentivePlanMember us-gaap:ShareBasedCompensationAwardTrancheTwoMember 2025-07-01 2026-06-30 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2023LongTermIncentivePlanMember us-gaap:ShareBasedCompensationAwardTrancheOneMember 2025-07-01 2026-06-30 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2022LongTermIncentivePlanMember us-gaap:ShareBasedCompensationAwardTrancheTwoMember 2025-07-01 2026-06-30 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2022LongTermIncentivePlanMember us-gaap:ShareBasedCompensationAwardTrancheOneMember 2025-07-01 2026-06-30 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2021ManagementIncentivePlanMember 2023-10-01 2023-12-31 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2021LongTermIncentivePlanMember 2020-07-01 2021-06-30 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2021LongTermIncentivePlanMember 2021-06-30 0001157408 lrn:FiscalYear2021LongTermIncentivePlanMember 2022-12-01 2022-12-31 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2021ManagementIncentivePlanMember 2022-10-01 2022-12-31 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2021ManagementIncentivePlanMember 2021-10-01 2021-12-31 0001157408 lrn:FiscalYear2021LongTermIncentivePlanMember us-gaap:ShareBasedCompensationAwardTrancheTwoMember 2021-07-01 2022-06-30 0001157408 lrn:FiscalYear2021LongTermIncentivePlanMember us-gaap:ShareBasedCompensationAwardTrancheOneMember 2021-07-01 2022-06-30 0001157408 lrn:TimeBasedAwardMember lrn:TechElevatorIncMember lrn:FiscalYear2021ManagementIncentivePlanMember us-gaap:ShareBasedCompensationAwardTrancheTwoMember 2020-07-01 2021-06-30 0001157408 lrn:TimeBasedAwardMember lrn:TechElevatorIncMember lrn:FiscalYear2021ManagementIncentivePlanMember us-gaap:ShareBasedCompensationAwardTrancheOneMember 2020-07-01 2021-06-30 0001157408 lrn:ExecutivesAndOtherEmployeesMember 2025-07-01 2026-06-30 0001157408 lrn:ExecutivesAndOtherEmployeesMember 2024-07-01 2025-06-30 0001157408 lrn:ExecutivesAndOtherEmployeesMember 2023-07-01 2024-06-30 0001157408 lrn:PrimaryObligorMember 2025-07-01 2026-06-30 0001157408 lrn:CareerLearningMember 2025-07-01 2026-06-30 0001157408 lrn:AdultMember 2025-07-01 2026-06-30 0001157408 lrn:PrimaryObligorMember 2024-07-01 2025-06-30 0001157408 lrn:CareerLearningMember 2024-07-01 2025-06-30 0001157408 lrn:AdultMember 2024-07-01 2025-06-30 0001157408 lrn:PrimaryObligorMember 2023-07-01 2024-06-30 0001157408 lrn:CareerLearningMember 2023-07-01 2024-06-30 0001157408 lrn:AdultMember 2023-07-01 2024-06-30 0001157408 srt:MinimumMember us-gaap:SoftwareAndSoftwareDevelopmentCostsMember 2026-06-30 0001157408 srt:MinimumMember us-gaap:FurnitureAndFixturesMember 2026-06-30 0001157408 srt:MinimumMember us-gaap:ComputerEquipmentMember 2026-06-30 0001157408 srt:MinimumMember lrn:SoftwareDevelopmentCostsInternetDomainMember 2026-06-30 0001157408 srt:MaximumMember us-gaap:SoftwareAndSoftwareDevelopmentCostsMember 2026-06-30 0001157408 srt:MaximumMember us-gaap:FurnitureAndFixturesMember 2026-06-30 0001157408 srt:MaximumMember us-gaap:ComputerEquipmentMember 2026-06-30 0001157408 srt:MaximumMember lrn:SoftwareDevelopmentCostsInternetDomainMember 2026-06-30 0001157408 us-gaap:SoftwareAndSoftwareDevelopmentCostsMember 2026-06-30 0001157408 us-gaap:LeaseholdImprovementsMember 2026-06-30 0001157408 us-gaap:FurnitureAndFixturesMember 2026-06-30 0001157408 us-gaap:ComputerEquipmentMember 2026-06-30 0001157408 lrn:StateTestingComputersMember 2026-06-30 0001157408 lrn:SoftwareDevelopmentCostsInternetDomainMember 2026-06-30 0001157408 lrn:OfficeEquipmentExcludingComputersMember 2026-06-30 0001157408 lrn:FinancedComputersAndPrintersMember 2026-06-30 0001157408 us-gaap:SoftwareAndSoftwareDevelopmentCostsMember 2025-06-30 0001157408 us-gaap:LeaseholdImprovementsMember 2025-06-30 0001157408 us-gaap:FurnitureAndFixturesMember 2025-06-30 0001157408 us-gaap:ComputerEquipmentMember 2025-06-30 0001157408 lrn:StateTestingComputersMember 2025-06-30 0001157408 lrn:SoftwareDevelopmentCostsInternetDomainMember 2025-06-30 0001157408 lrn:OfficeEquipmentExcludingComputersMember 2025-06-30 0001157408 lrn:FinancedComputersAndPrintersMember 2025-06-30 0001157408 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-07-01 2026-06-30 0001157408 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-07-01 2025-06-30 0001157408 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-07-01 2024-06-30 0001157408 us-gaap:RetainedEarningsMember 2025-07-01 2026-06-30 0001157408 us-gaap:RetainedEarningsMember 2024-07-01 2025-06-30 0001157408 us-gaap:RetainedEarningsMember 2023-07-01 2024-06-30 0001157408 srt:MinimumMember us-gaap:BuildingMember 2026-06-30 0001157408 srt:MaximumMember us-gaap:BuildingMember 2026-06-30 0001157408 srt:MinimumMember 2026-06-30 0001157408 srt:MaximumMember 2026-06-30 0001157408 lrn:CsiLeasingMember 2026-06-30 0001157408 us-gaap:FairValueInputsLevel2Member 2026-06-30 0001157408 stpr:CA 2025-07-01 2026-06-30 0001157408 us-gaap:TradeNamesMember 2025-07-01 2026-06-30 0001157408 us-gaap:DevelopedTechnologyRightsMember 2025-07-01 2026-06-30 0001157408 2025-12-01 2025-12-31 0001157408 us-gaap:TradeNamesMember 2026-06-30 0001157408 us-gaap:OtherIntangibleAssetsMember 2026-06-30 0001157408 us-gaap:DevelopedTechnologyRightsMember 2026-06-30 0001157408 us-gaap:CustomerRelationshipsMember 2026-06-30 0001157408 us-gaap:TradeNamesMember 2025-06-30 0001157408 us-gaap:OtherIntangibleAssetsMember 2025-06-30 0001157408 us-gaap:DevelopedTechnologyRightsMember 2025-06-30 0001157408 us-gaap:CustomerRelationshipsMember 2025-06-30 0001157408 lrn:InstructionalCostsAndServicesMember 2025-07-01 2026-06-30 0001157408 lrn:InstructionalCostsAndServicesMember 2024-07-01 2025-06-30 0001157408 lrn:InstructionalCostsAndServicesMember 2023-07-01 2024-06-30 0001157408 lrn:BancOfAmericaLeasingCapitalLlcMember 2025-06-30 0001157408 us-gaap:FairValueInputsLevel1Member 2026-06-30 0001157408 us-gaap:RestrictedStockMember 2026-06-30 0001157408 lrn:DeferredStockUnitsMember 2026-06-30 0001157408 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2025-07-01 2026-06-30 0001157408 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2024-07-01 2025-06-30 0001157408 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2023-07-01 2024-06-30 0001157408 lrn:TimeBasedAwardMember 2026-06-30 0001157408 us-gaap:USTreasurySecuritiesMember 2025-06-30 0001157408 us-gaap:CorporateDebtSecuritiesMember 2025-06-30 0001157408 us-gaap:CommercialPaperMember 2025-06-30 0001157408 us-gaap:USTreasurySecuritiesMember 2026-06-30 0001157408 us-gaap:CorporateDebtSecuritiesMember 2026-06-30 0001157408 us-gaap:CommercialPaperMember 2026-06-30 0001157408 lrn:CsiLeasingMember srt:MinimumMember 2026-06-30 0001157408 lrn:BancOfAmericaLeasingCapitalLlcMember srt:MinimumMember 2026-06-30 0001157408 lrn:BancOfAmericaLeasingCapitalLlcMember srt:MaximumMember 2026-06-30 0001157408 lrn:ConvertibleSeniorNotesDue2027Member 2026-06-30 0001157408 lrn:ConvertibleSeniorNotesDue2027Member 2025-06-30 0001157408 us-gaap:EmployeeStockMember 2026-06-30 0001157408 2023-06-30 0001157408 us-gaap:OtherNoncurrentAssetsMember lrn:CapitalizedComputerSoftwareAsServiceMember 2026-06-30 0001157408 lrn:PrepaidExpensesMember lrn:CapitalizedComputerSoftwareAsServiceMember 2026-06-30 0001157408 us-gaap:OtherNoncurrentAssetsMember lrn:CapitalizedComputerSoftwareAsServiceMember 2025-06-30 0001157408 lrn:PrepaidExpensesMember lrn:CapitalizedComputerSoftwareAsServiceMember 2025-06-30 0001157408 lrn:CapitalizedComputerSoftwareAsServiceMember 2025-07-01 2026-06-30 0001157408 lrn:CapitalizedComputerSoftwareAsServiceMember 2024-07-01 2025-06-30 0001157408 lrn:CapitalizedComputerSoftwareAsServiceMember 2023-07-01 2024-06-30 0001157408 us-gaap:SoftwareDevelopmentMember us-gaap:SellingGeneralAndAdministrativeExpensesMember 2025-07-01 2026-06-30 0001157408 us-gaap:SoftwareDevelopmentMember us-gaap:CostOfSalesMember 2025-07-01 2026-06-30 0001157408 lrn:CapitalizedComputerSoftwareAsServiceMember us-gaap:SellingGeneralAndAdministrativeExpensesMember 2025-07-01 2026-06-30 0001157408 lrn:CapitalizedComputerSoftwareAsServiceMember us-gaap:CostOfSalesMember 2025-07-01 2026-06-30 0001157408 us-gaap:SoftwareDevelopmentMember us-gaap:SellingGeneralAndAdministrativeExpensesMember 2024-07-01 2025-06-30 0001157408 us-gaap:SoftwareDevelopmentMember us-gaap:CostOfSalesMember 2024-07-01 2025-06-30 0001157408 lrn:CapitalizedComputerSoftwareAsServiceMember us-gaap:SellingGeneralAndAdministrativeExpensesMember 2024-07-01 2025-06-30 0001157408 lrn:CapitalizedComputerSoftwareAsServiceMember us-gaap:CostOfSalesMember 2024-07-01 2025-06-30 0001157408 us-gaap:SoftwareDevelopmentMember us-gaap:SellingGeneralAndAdministrativeExpensesMember 2023-07-01 2024-06-30 0001157408 us-gaap:SoftwareDevelopmentMember us-gaap:CostOfSalesMember 2023-07-01 2024-06-30 0001157408 lrn:CapitalizedComputerSoftwareAsServiceMember us-gaap:SellingGeneralAndAdministrativeExpensesMember 2023-07-01 2024-06-30 0001157408 lrn:CapitalizedComputerSoftwareAsServiceMember us-gaap:CostOfSalesMember 2023-07-01 2024-06-30 0001157408 lrn:StockOptionsAndRestrictedStockMember 2025-07-01 2026-06-30 0001157408 lrn:StockOptionsAndRestrictedStockMember 2024-07-01 2025-06-30 0001157408 lrn:StockOptionsAndRestrictedStockMember 2023-07-01 2024-06-30 0001157408 lrn:ConvertibleSeniorNotesDue2027Member 2025-07-01 2026-06-30 0001157408 lrn:ConvertibleSeniorNotesDue2027Member 2024-07-01 2025-06-30 0001157408 lrn:ConvertibleSeniorNotesDue2027Member 2023-07-01 2024-06-30 0001157408 us-gaap:PerformanceSharesMember lrn:TechElevatorIncMember 2025-07-01 2026-06-30 0001157408 lrn:DeferredStockUnitsMember 2025-07-01 2026-06-30 0001157408 us-gaap:PerformanceSharesMember 2024-07-01 2025-06-30 0001157408 lrn:DeferredStockUnitsMember 2024-07-01 2025-06-30 0001157408 us-gaap:PerformanceSharesMember lrn:TechElevatorIncMember 2023-07-01 2024-06-30 0001157408 us-gaap:PerformanceSharesMember 2023-07-01 2024-06-30 0001157408 lrn:DeferredStockUnitsMember 2023-07-01 2024-06-30 0001157408 2024-06-30 0001157408 2025-11-03 0001157408 us-gaap:PerformanceSharesMember 2025-07-01 2026-06-30 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2023LongTermIncentivePlanMember us-gaap:ShareBasedCompensationAwardTrancheOneMember 2025-09-01 2025-09-30 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2023LongTermIncentivePlanMember us-gaap:ShareBasedCompensationAwardTrancheOneMember 2025-07-01 2025-07-31 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2022LongTermIncentivePlanMember us-gaap:ShareBasedCompensationAwardTrancheOneMember 2024-09-01 2024-09-30 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2022LongTermIncentivePlanMember us-gaap:ShareBasedCompensationAwardTrancheOneMember 2024-07-01 2024-07-31 0001157408 us-gaap:RestrictedStockMember 2025-07-01 2026-06-30 0001157408 us-gaap:RestrictedStockMember 2024-07-01 2025-06-30 0001157408 us-gaap:RestrictedStockMember 2023-07-01 2024-06-30 0001157408 us-gaap:PerformanceSharesMember 2026-06-30 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2026LongTermIncentivePlanMember 2025-07-01 2026-06-30 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2025LongTermIncentivePlanMember 2025-07-01 2026-06-30 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2024LongTermIncentivePlanMember 2025-07-01 2026-06-30 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2023LongTermIncentivePlanMember 2025-07-01 2026-06-30 0001157408 us-gaap:PerformanceSharesMember lrn:FiscalYear2022LongTermIncentivePlanMember 2025-07-01 2026-06-30 0001157408 us-gaap:PerformanceSharesMember lrn:TechElevatorIncMember lrn:FiscalYear2021ManagementIncentivePlanMember 2020-07-01 2021-06-30 0001157408 lrn:TimeBasedAwardMember lrn:TechElevatorIncMember lrn:FiscalYear2021ManagementIncentivePlanMember 2020-07-01 2021-06-30 0001157408 us-gaap:EmployeeStockMember 2026-02-01 2026-02-01 0001157408 us-gaap:CommonStockMember 2025-07-01 2026-06-30 0001157408 us-gaap:CommonStockMember 2024-07-01 2025-06-30 0001157408 us-gaap:CommonStockMember 2023-07-01 2024-06-30 0001157408 us-gaap:AdditionalPaidInCapitalMember 2025-07-01 2026-06-30 0001157408 us-gaap:AdditionalPaidInCapitalMember 2024-07-01 2025-06-30 0001157408 us-gaap:AdditionalPaidInCapitalMember 2023-07-01 2024-06-30 0001157408 lrn:MiddleHighSchoolMember 2025-07-01 2026-06-30 0001157408 lrn:GeneralEducationMember 2025-07-01 2026-06-30 0001157408 lrn:MiddleHighSchoolMember 2024-07-01 2025-06-30 0001157408 lrn:GeneralEducationMember 2024-07-01 2025-06-30 0001157408 lrn:MiddleHighSchoolMember 2023-07-01 2024-06-30 0001157408 lrn:GeneralEducationMember 2023-07-01 2024-06-30 0001157408 2022-07-01 2023-06-30 0001157408 lrn:FiscalYear2021LongTermIncentivePlanMember 2022-12-31 0001157408 lrn:BancOfAmericaLeasingCapitalLlcMember 2026-06-30 0001157408 2023-07-01 2024-06-30 0001157408 lrn:ConvertibleSeniorNotesDue2027Member 2020-09-30 0001157408 lrn:ConvertibleSeniorNotesDue2027Member 2020-08-01 2020-09-30 0001157408 lrn:FoundationForOnlineAndBlendedLearningMember 2025-07-01 2026-06-30 0001157408 lrn:FoundationForOnlineAndBlendedLearningMember 2024-07-01 2025-06-30 0001157408 lrn:FoundationForOnlineAndBlendedLearningMember 2023-07-01 2024-06-30 0001157408 srt:MinimumMember 2025-07-01 2026-06-30 0001157408 srt:MaximumMember 2025-07-01 2026-06-30 0001157408 us-gaap:RevenueFromContractWithCustomerMember us-gaap:CustomerConcentrationRiskMember 2025-07-01 2026-06-30 0001157408 us-gaap:RevenueFromContractWithCustomerMember us-gaap:CustomerConcentrationRiskMember 2024-07-01 2025-06-30 0001157408 us-gaap:RevenueFromContractWithCustomerMember us-gaap:CustomerConcentrationRiskMember 2023-07-01 2024-06-30 0001157408 us-gaap:SoftwareDevelopmentMember 2025-07-01 2026-06-30 0001157408 srt:MinimumMember lrn:CapitalizedComputerSoftwareAsServiceMember 2025-07-01 2026-06-30 0001157408 srt:MaximumMember lrn:CapitalizedComputerSoftwareAsServiceMember 2025-07-01 2026-06-30 0001157408 us-gaap:CostOfSalesMember 2025-07-01 2026-06-30 0001157408 us-gaap:CostOfSalesMember 2024-07-01 2025-06-30 0001157408 us-gaap:CostOfSalesMember 2023-07-01 2024-06-30 0001157408 2026-06-30 0001157408 2025-06-30 0001157408 lrn:FoundationForOnlineAndBlendedLearningMember 2021-06-30 0001157408 lrn:FoundationForOnlineAndBlendedLearningMember 2019-06-30 0001157408 lrn:StudentComputersAndPrintersMember 2025-07-01 2026-06-30 0001157408 lrn:StudentComputersAndPrintersMember 2024-07-01 2025-06-30 0001157408 lrn:StudentComputersAndPrintersMember 2023-07-01 2024-06-30 0001157408 2026-04-01 2026-06-30 0001157408 2025-12-31 0001157408 2026-07-31 0001157408 2024-07-01 2025-06-30 0001157408 2025-07-01 2026-06-30 shares iso4217:USD lrn:contract iso4217:USD shares pure lrn:facility lrn:item lrn:tranche lrn:segment

0001157408 --06-30 2026 FY

http://fasb.org/us-gaap/2025#OtherAssetsNoncurrent

P1Y P1Y P2Y P1Y P2Y P3Y

P3Y

P5Y

P3Y

P1Y

http://fasb.org/us-gaap/2025#AssetImpairmentCharges

http://xbrl.sec.gov/stpr/2025#CA http://xbrl.sec.gov/stpr/2025#TX http://xbrl.sec.gov/stpr/2025#VA

http://xbrl.sec.gov/country/2025#US

P36M

P3Y

0.003333

0.00333

P30D false 10-K true 2026-06-30 false 001-33883 Stride, Inc. DE 95-4774688 11720 Plaza America Drive, 9th Floor Reston VA 20190 703 483-7000 Common Stock, $0.0001 par value LRN NYSE No No Yes Yes Large Accelerated Filer false false true false false 1974309000 41559845 Portions of the registrant’s definitive proxy statement for its 2026 annual meeting of stockholders to be filed pursuant to Regulation 14A with the Securities and Exchange Commission not later than 120 days after the registrant’s fiscal year ended June 30, 2026, are incorporated by reference into Part III of this Form 10-K. Cybersecurity Risk Management and StrategyWe have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and information. Our cybersecurity risk management program is guided by the National Institute of Standards and Technology Cybersecurity Framework (NIST CSF) and the National Institute of Standards and Technology Special Publication (SP) 800-53. This does not imply that we meet any particular technical standards, specifications, or requirements, only that we use the NIST CSF and SP 800-53 as a framework to help us identify, assess, and manage cybersecurity risks relevant to our business.Our cybersecurity risk management program is integrated into our overall enterprise risk management program, and shares common methodologies, reporting channels and governance processes that apply across the enterprise risk management program to other legal, compliance, strategic, operational, and financial risk areas.Key elements of our cybersecurity risk management program include:<table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">risk assessments designed to help identify material cybersecurity risks to our critical systems, information, products, services, and our broader enterprise IT environment;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">a security team principally responsible for managing (1) our cybersecurity risk assessment processes, (2) our security controls, and (3) our response to cybersecurity incidents;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the use of external service providers, where appropriate, to assess, test or otherwise assist with aspects of our security controls and processes;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">cybersecurity awareness training of our employees, including incident response personnel, and senior management; </td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">a cybersecurity incident response plan that includes procedures for responding to cybersecurity incidents; and</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">a third-party risk management process for key service providers, suppliers, and vendors based on our assessment of their criticality to our operations and respective risk profile.</td></tr></table> We have not identified risks from known cybersecurity threats, including as a result of any prior cybersecurity incidents, that have materially affected us, including our operations, business strategy, results of operations, or financial condition. We face certain ongoing risks from cybersecurity threats that, if realized, are reasonably likely to materially affect us, including our operations, business strategy, results of operations, or financial condition. See “Risk Factors – We operate in markets that are dependent on IT Systems and technological change. Failure to maintain and support customer-facing services, systems, and platforms, including addressing quality issues and execution on time of new products and enhancements, could negatively impact our revenues and reputation” and “Risk Factors – The failure to prevent a cybersecurity incident affecting our systems could result in the disruption of our services and the disclosure or misappropriation of sensitive information, which could harm our reputation, decrease demand for our services and products, expose us to liability, penalties, and remedial costs, or otherwise adversely affect our financial performance.” Our cybersecurity risk management program is integrated into our overall enterprise risk management program, and shares common methodologies, reporting channels and governance processes that apply across the enterprise risk management program to other legal, compliance, strategic, operational, and financial risk areas.Key elements of our cybersecurity risk management program include:<table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">risk assessments designed to help identify material cybersecurity risks to our critical systems, information, products, services, and our broader enterprise IT environment;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">a security team principally responsible for managing (1) our cybersecurity risk assessment processes, (2) our security controls, and (3) our response to cybersecurity incidents;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the use of external service providers, where appropriate, to assess, test or otherwise assist with aspects of our security controls and processes;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">cybersecurity awareness training of our employees, including incident response personnel, and senior management; </td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">a cybersecurity incident response plan that includes procedures for responding to cybersecurity incidents; and</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">a third-party risk management process for key service providers, suppliers, and vendors based on our assessment of their criticality to our operations and respective risk profile.</td></tr></table> true true true false Our Board considers cybersecurity risk as part of its risk oversight function and has delegated to its Audit Committee (the “Committee”) oversight of cybersecurity and other information technology risks, including oversight of management’s implementation of our cybersecurity risk management program. The Committee receives regular reports from management on our cybersecurity risks. In addition, management updates the Committee on any incidents it considers to be significant or potentially significant. Audit Committee The Committee receives regular reports from management on our cybersecurity risks. In addition, management updates the Committee on any incidents it considers to be significant or potentially significant. true Our management team, including our Chief Information Security Officer (CISO), is responsible for assessing and managing our material risks from cybersecurity threats. The team has primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. Our CISO has more than 20 years of experience managing the security and compliance organization for global companies, providing online and cloud-based services to more than a majority of the Fortune 500 and the United States Government.Our management team works closely with our CISO to stay informed about and monitor efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us; and alerts and reports produced by security tools deployed in our IT environment. Our management team, including our Chief Information Security Officer (CISO) true Our CISO has more than 20 years of experience managing the security and compliance organization for global companies, providing online and cloud-based services to more than a majority of the Fortune 500 and the United States Government. Our management team works closely with our CISO to stay informed about and monitor efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us; and alerts and reports produced by security tools deployed in our IT environment. 185 243 KPMG LLP McLean, Virginia BDO USA, P.C. Potomac, Maryland

754501000

782497000

31302000

31124000

664788000

559646000

38250000

37570000

43052000

35579000

203499000

202769000

12033000

14673000

1716123000

1632734000

102042000 78582000 95002000 75314000 56895000 58584000

10876000

18227000

246676000

26377000

207938000

157465000

2435552000

2293959000

46742000

43962000

95446000

103276000

62896000

74939000

20553000

26995000

60477000

42316000

2737000

11391000

288851000

302879000

56455000

44567000

8316000

35164000

417995000

416322000

13033000

18573000

15408000

803223000

814340000

0.0001

10000000

0.0001

100000000

49126917

48852419

41477230

43517676

4000

739829000

735711000

-59000

-67000

1184645000

846453000

7649687

5334743

292090000

102482000

1632329000

1479619000

2435552000

2293959000

2518081000

2405317000

2040069000

1567481000

1461398000

1276466000

950600000

943919000

763603000

499833000

524347000

514003000

59478000

450767000

360094000

249600000

-11778000

-10504000

-8812000

2173000

33629000

26900000

441162000

383219000

267688000

102765000

93007000

64482000

-205000

-2271000

977000

338192000

287941000

204183000

7.92

6.69

4.79

7.14

5.95

4.69

42717156

43041274

42626588

47332855

48413717

43535441

338192000

287941000

204183000

8000

-25000

-7000

338200000

287916000

204176000

48339048

4000

695480000

-35000

354329000

-5334743

-102482000

947296000

204183000

-7000

32810000

31426

507443

153728

148025 8257000 8257000

48576164

4000

720033000

-42000

558512000

-5334743

-102482000

1176025000

287941000

-25000

37295000

173804

317490

84389

130650 21617000 21617000

48852419

4000

735711000

-67000

846453000

-5334743

-102482000

1479619000

338192000

8000

40370000

2314944

189608000

245412

206518

64562

112870 36252000 36252000

49126917

4000

739829000

-59000

1184645000

-7649687

-292090000

1632329000

338192000

287941000

204183000

126562000

114669000

109683000

40255000

36794000

31462000

39993000

-17783000

2890000

16463000

15267000

22844000

1673000

1647000

1640000

5063000

12265000

14246000

59478000

20514000

-596000

849000

121370000

102188000

32056000

-6538000 6239000 8877000

2164000

310000

-6844000

-10188000

40915000

-16556000

-11828000

9913000

7394000

-16943000 -12396000 -14990000 -3274000 -7181000 -37071000

433814000

432816000

278797000

587000

1781000

2270000

61591000

36428000

40653000

16668000 21801000 18666000

55538000

20682000

5196000

279497000

252930000

204487000

324941000

260233000

277573000

-179828000

-87995000

-139871000

56856000

41469000

40919000

188659000

36467000 21469000 8200000

-281982000

-62938000

-49119000

-27996000

281883000

89807000

782497000

500614000

410807000

754501000

782497000

500614000

1. Description of the BusinessStride, Inc., together with its subsidiaries (“Stride” or the “Company”), is a technology company providing an educational platform to deliver online learning to students throughout the U.S. The brand reflects the Company’s continued growth into lifelong learning, regardless of a student’s age or location. The Company’s platform hosts products and services to attract, enroll, educate, track progress, and support students. These products and services, spanning curriculum, systems, instruction, and support services, are designed to help learners of all ages reach their full potential through inspired teaching and personalized learning. The Company’s clients are primarily public and private schools, school districts, and charter boards. Additionally, it provides solutions to employers, government agencies and consumers. These products and services are provided through two lines of revenue:<table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">General Education products and services are predominantly focused on core subjects, including math, English, science and history, for kindergarten through twelfth grade students to help build a common foundation of knowledge. These programs provide an alternative to traditional school options and address a range of student needs. Products and services are delivered as a comprehensive school-as-a-service offering for schools or as stand-alone products and services. A student enrolled in a school that offers Stride’s General Education program may elect to take career courses, but that student and the associated revenue is reported as a General Education enrollment and General Education revenue.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Career Learning products and services are focused on developing skills to enter and succeed in careers in high-growth, in-demand industries—including information technology, healthcare and general business. The Company provides middle and high school students with Career Learning programs that complement their core general education coursework. Stride offers multiple career pathways through a broad catalog of courses. The middle school program exposes students to a variety of career options and introduces career skill development. In high school, students may engage in industry content pathway courses, project-based learning in virtual teams, and career development services. High school students have the opportunity to progress toward certifications, connect with industry professionals, earn college credits while in high school, and participate in job shadowing and/or work-based learning experiences that facilitate success in today’s digital, tech-enabled economy. A student is reported as a Career Learning enrollment and associated Career Learning revenue only if the student is enrolled in a Career Learning program. Like General Education products and services, the products and services for Career Learning are sold as a comprehensive school-as-a-service offering or as stand-alone products and services. The Company also provides focused post-secondary career learning programs to adult learners, for the software engineering, healthcare, and medical fields. These programs are sold directly to consumers, employers and government agencies.</td></tr></table>

2. Basis of PresentationThe consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated.

3. Summary of Significant Accounting PoliciesRecent Accounting PronouncementsAccounting Standards AdoptedIn December 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09 is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in ASU 2023-09 address investor requests for enhanced income tax information primarily through changes to the rate reconciliation and income taxes paid information. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, and for interim periods for fiscal years beginning after December 15, 2025. The Company adopted this guidance prospectively, as permitted by ASU 2023-09, in the fourth quarter of 2026. The adoption is reflected in Note 5, “Income Taxes.”Accounting Standards Not Yet AdoptedIn November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40) ("ASU 2024-03"). This update provides investors with enhanced detail regarding components of expenses presented in the income statement, aiming to improve transparency and enable precise understanding of a company’s cost structure. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. The Company will review the extent of new disclosures necessary in the coming quarters, prior to implementation during fiscal year 2028. Other than additional disclosure, the Company does not expect a change to its consolidated financial statements.In July 2025, the FASB issued ASU 2025-05, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025-05”). The update provides an optional practical expedient for public companies to estimate expected credit losses on current accounts receivable and contract assets arising from ASC 606 transactions by assuming that conditions at the balance sheet date remain unchanged over the assets’ remaining lives. ASU 2025-05 is effective for fiscal years beginning after December 15, 2025 (including interim periods), with early adoption permitted. The Company is assessing the impact of the ASU and whether to elect the practical expedient upon adoption in fiscal year 2027.In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software (“ASU 2025-06”). ASU 2025-06 is intended to modernize and clarify the accounting for internal-use software, including updates to capitalization guidance that removes references to project stages and replaces them with the concept of a probable-to-complete recognition threshold. ASU 2025-06 is effective for fiscal years beginning after December 15, 2027, and early adoption is permitted as of the beginning of an annual period. The Company is currently evaluating the impact of this ASU on its consolidated financial statements.Segment Reporting Stride, Inc. operates in one operating and reportable business segment as a technology company providing an educational platform to deliver proprietary and third-party curriculum, software systems and educational services designed to facilitate individualized learning for students and adults. The Company’s primary revenue source is derived from educational products and services provided through its General Education and Career Learning lines of revenue.Operating as a cohesive technology company, the Company offers its products and services across the United States via an integrated online platform, using a centralized management approach for all educational and support functions.The Chief Executive Officer (“CEO”) serves as the Chief Operating Decision Maker (“CODM”). The CODM evaluates the Company’s performance based on consolidated net income. This measure aligns with Stride’s consolidated financial statements and serves as the basis for resource allocation and performance assessment. The measure of segment assets is reported on the balance sheet as total consolidated assets. The CODM monitors profitability and strategic growth initiatives on a consolidated basis without disaggregating profit or loss into separate operating segments. The Company determined there are no significant segment expenses that require a separate disclosure. The consolidated net income is used to assess overall company performance, benchmark against industry standards, and identify profitability trends, which guides resource allocation and investment in expansion and technology upgrades. The CODM also evaluates company performance using operating income. Operating income provides the CODM with a focused view of the company’s profitability excluding the effects of financing activities, tax strategies, and other non-operating items. This measure enables the CODM to assess operational efficiency, monitor performance trends, and evaluate the effectiveness of strategies aimed at revenue generation and cost management.Use of EstimatesThe preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions affecting the reported amounts of assets and liabilities and contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to the allowance for credit losses, inventory reserves, amortization periods, the allocation of the purchase price to the fair value of net assets and liabilities acquired in business combinations, fair values used in asset impairment evaluations, valuation of long-lived assets, accrual for incurred but not reported (“IBNR”) claims, contingencies, income taxes, fair value of contingent consideration, and stock-based compensation expense. The Company bases its estimates on historical experience and various assumptions that it believes are reasonable under the circumstances. The results of the analysis form the basis for making assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates.Revenue RecognitionRevenue is recognized when control of the promised goods or services is transferred to the Company’s customers in an amount that reflects the consideration it expects to be entitled to in exchange for those goods or services using the following steps:<table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">identify the contract, or contracts, with a customer;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">identify the performance obligations in the contract;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">determine the transaction price;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">allocate the transaction price to the performance obligations in the contract; and</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">recognize revenue when, or as, the Company satisfies a performance obligation.</td></tr></table>Revenues related to the products and services that the Company provides to students in kindergarten through twelfth grade or adult learners are considered to be General Education or Career Learning based on the school or adult program in which the student is enrolled. General Education products and services are focused on core subjects, including math, English, science and history, for kindergarten through twelfth grade students to help build a common foundation of knowledge. Career Learning products and services are focused on developing skills to enter and succeed in careers in high-growth, in-demand industries—including information technology, healthcare and general business, for students in middle school through high school and adult learners.The majority of the Company’s contracts are with the following types of customers:<table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">a virtual or blended school whereby the amount of revenue is primarily determined by funding the school receives;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">a school or individual who licenses certain curriculum on a subscription or course-by-course basis; or</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">an enterprise that contracts with the Company to provide online job training.</td></tr></table>Funding-based ContractsThe Company provides an integrated package of systems, services, products, and professional expertise that is administered together to support a virtual or blended public school. Contracts generally span multiple years with performance obligations being isolated to annual periods which generally coincide with the fiscal year. Customers of these programs can obtain administrative support, information technology, academic support services, online curriculum, learning systems platforms and instructional services under the terms of a negotiated service agreement. The schools receive funding on a per student basis from the state in which the public school or school district is located. Shipments of materials for schools that occur in the fourth fiscal quarter and the upcoming school year are recorded in deferred revenue.The Company generates revenues under contracts with virtual and blended public schools and includes the following components, where required:<table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">providing each of a school’s students with access to the Company’s online school and lessons;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">offline learning kits, which include books and materials to supplement the online lessons; </td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the use of a personal computer and associated reclamation services;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">internet access and technology support services; </td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">instruction by a state-certified teacher; and</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">management and technology services necessary to support a virtual or blended school. In certain contracts, revenues are determined directly by per enrollment funding.</td></tr></table>To determine the ratable amount of revenue to recognize in a fiscal quarter, the Company estimates the total expected funds each school will receive in a particular school year. Total funds for a school are primarily a function of the number of students enrolled in the school and established per enrollment funding levels, which are generally published on an annual basis by the state or school district. The Company reviews its estimates of funding periodically, and updates as necessary, by adjusting its year-to-date earned revenues to be proportional to the total expected revenues to be earned during the fiscal year. Actual school funding may vary from these estimates and the impact of these differences could impact the Company’s results of operations. Since the end of the school year coincides with the end of the fiscal year, annual revenues are generally based on actual school funding and actual costs incurred (including costs for the Company’s services to the schools plus other costs the schools may incur). The Company’s reported results are subject to annual school district financial audits, which incorporate enrollment counts, funding and other routine financial audit considerations. The results of these audits are incorporated into the Company’s monthly funding estimates. Historically, aggregate funding estimates have differed from actual reimbursements, generally in the range of 2% of annual revenue or less, which may vary from year to year. For the years ended June 30, 2025, 2024 and 2023, the Company’s aggregate funding estimates differed from actual reimbursements impacting total reported revenue by approximately 0.8%, 1.8%, and 2.8%, respectively.Each state and/or school district has variations in the school funding formulas and methodologies that it uses to estimate funding for revenue recognition at its respective schools. As the Company estimates funding for each school, it takes into account the state definition for count dates on which reported enrollment numbers will be used for per pupil funding. The parameters the Company considers in estimating funding for revenue recognition purposes include school district count definitions, withdrawal rates, new registrations, average daily attendance, special needs enrollment, academic progress, historical completion, student location, funding caps and other state specified categorical program funding.Under the contracts where the Company provides products and services to schools, the Company is responsible for substantially all of the expenses incurred by the school and has generally agreed to absorb any operating losses of the schools in a given school year. These school operating losses represent the excess of costs incurred over revenues earned by the virtual or blended public school (the school’s expected funding), as reflected in its respective financial statements, including Company charges to the schools. To the extent a school does not receive sufficient funding for each student enrolled in the school, the school would still incur costs associated with serving the unfunded enrollment. If losses due to unfunded enrollments result in a net operating loss for the year that loss is reflected as a reduction in the revenues and net receivables that the Company collects from the school. A school net operating loss in one year does not necessarily mean the Company anticipates losing money on the entire contract with the school. However, a school’s net operating loss may reduce the Company’s ability to collect its management fees in full and revenues recognized are constrained to reflect the expected cash collections from such schools. The Company records the school’s estimated net operating loss against revenues based upon the percentage of actual revenues in the period to total estimated revenues for the fiscal year. Actual school net operating losses may vary from these estimates or revisions, and the impact of these differences could have a material impact on results of operations. For the years ended June 30, 2026, 2025 and 2024, the Company’s revenues included an adjustment for net school operating losses at the schools of $17.2 million, $14.5 million, and $17.0 million, respectively. Because the Company has agreed to absorb any operating losses of the schools, the Company records the expenses incurred by the school as both revenue and expense in the consolidated statements of operations. For the years ended June 30, 2026, 2025 and 2024, the Company recognized revenue associated with these schools of $683.6 million, $662.6 million and $576.4 million, respectively.Subscription-based ContractsThe Company provides certain online curriculum and services to schools and school districts under subscription agreements. Revenues from the licensing of curriculum under subscription arrangements are recognized on a ratable basis over the subscription period. Revenues from professional consulting, training and support services are deferred and recognized ratably over the service period.In addition, the Company contracts with individual customers who have access for one to two years to company-provided online curriculum and generally prepay for services to be received. Adult learners enroll in courses that provide specialized training in a specific industry. Each of these contracts is considered to be one performance obligation. The Company recognizes these revenues ratably over the maximum term of the customer contract based on the defined contract price.Enterprise ContractsThe Company provides online job training over a specified contract period to enterprises. Each of these contracts is considered to be one performance obligation. The Company recognizes these revenues based on the number of students trained during the term of the contract based on the defined contract price.Disaggregated RevenuesThe revenue recognition related to the types of contracts discussed above can span both of the Company’s lines of revenue as shown below. For example, a funding-based contract may include both General Education and Career Learning students. In total, there is one performance obligation and revenue is recognized over the fiscal year. The revenue is then disaggregated between General Education and Career Learning based on the Company’s estimated full-year enrollment totals of each category. During the years ended June 30, 2026, 2025 and 2024, approximately 96%, 95%, and 93%, respectively, of the Company’s General Education revenues, and 100%, 100% and 100%, respectively, of the Company’s Middle – High School Career Learning revenues, were from funding-based contracts. The following table presents the Company’s revenues disaggregated based on its two lines of revenue for the years ended June 30, 2026, 2025 and 2024:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:42.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Years Ended June 30, </td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.05%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="10" style="padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:42.49%;margin:0pt;padding:0pt;">(In thousands)</td></tr><tr style=""><td style="vertical-align:top;width:56%;background:#cceeff;margin:0pt;padding:0pt;">General Education</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;margin:0pt;padding:0pt;"> 1,417,785</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;margin:0pt;padding:0pt;"> 1,448,676</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;background:#cceeff;margin:0pt;padding:0pt;"> 1,289,193</td></tr><tr style=""><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;">Career Learning</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:56%;background:#cceeff;margin:0pt;padding:0pt;">Middle - High School</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;margin:0pt;padding:0pt;"> 1,043,726</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;margin:0pt;padding:0pt;"> 876,287</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;background:#cceeff;margin:0pt;padding:0pt;"> 651,191</td></tr><tr style=""><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;">Adult</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 56,570</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 80,354</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 99,685</td></tr><tr style=""><td style="vertical-align:top;width:56%;background:#cceeff;margin:0pt;padding:0pt;">Total Career Learning</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,100,296</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 956,641</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 750,876</td></tr><tr style=""><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;">Total Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,518,081</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,405,317</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,040,069</td></tr></table>Concentration of CustomersDuring each of the years ended June 30, 2026, 2025 and 2024, the Company had no contracts that represented greater than 10% of total revenues. Contract BalancesThe timing of revenue recognition, invoicing, and cash collection results in accounts receivable, unbilled receivables (a contract asset) and deferred revenue (a contract liability) in the consolidated balance sheets. Accounts receivable are recorded when there is an executed customer contract and the customer is billed. An allowance is recorded to reflect expected losses at the time the receivable is recorded. The collectability of outstanding receivables is evaluated regularly by the Company to determine if additional allowances are needed. Unbilled receivables are created when revenue is earned prior to the customer being billed. Deferred revenue is recorded when customers are billed or cash is collected in advance of services being provided. The opening and closing balances of the Company’s accounts receivable, unbilled receivables and deferred revenue are as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:42.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, </td></tr><tr style=""><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.05%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="10" style="padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:42.49%;margin:0pt;padding:0pt;">(In thousands)</td></tr><tr style=""><td style="vertical-align:top;width:56%;background:#cceeff;margin:0pt;padding:0pt;">Accounts receivable</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;margin:0pt;padding:0pt;"> 664,788</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;margin:0pt;padding:0pt;"> 559,646</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;background:#cceeff;margin:0pt;padding:0pt;"> 472,754</td></tr><tr style=""><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;">Unbilled receivables (included in accounts receivable)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"> 24,351</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"> 19,902</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;margin:0pt;padding:0pt;"> 19,499</td></tr><tr style=""><td style="vertical-align:top;width:56%;background:#cceeff;margin:0pt;padding:0pt;">Deferred revenue</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;margin:0pt;padding:0pt;"> 20,553</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;margin:0pt;padding:0pt;"> 26,995</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;background:#cceeff;margin:0pt;padding:0pt;"> 35,742</td></tr><tr style=""><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;">Deferred revenue, long-term (included in other long-term liabilities)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"> 58</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"> 327</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;margin:0pt;padding:0pt;"> 1,097</td></tr></table>The difference between the opening and closing balance of the accounts receivable and unbilled receivables relates to the timing of the Company’s billing in relation to month end and its contracts. The difference between the opening and closing balance of the deferred revenue relates to the timing difference between billings to customers and the term of the contract, as well as changes in the estimates of variable consideration. Typically, each of these balances is at its highest during the first quarter of the fiscal year and lowest at the end of the fiscal year. The amount of revenue recognized during the years ended June 30, 2026, 2025 and 2024, that was included in the previous July 1st deferred revenue balance was $25.8 million, $32.0 million, and $74.4 million, respectively. During the years ended June 30, 2026, 2025 and 2024, the Company recorded revenues of $18.4 million, $35.9 million and $51.0 million, respectively, related to performance obligations satisfied in prior periods.Performance ObligationsA performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. For the majority of its contracts, the Company’s performance obligations are satisfied over time, as the Company delivers, and the customer receives the services, over the service period of the contract. The Company’s payment terms are generally net 30 or net 45, but can vary depending on the customer or when the school receives its funding from the state.The Company has elected, as a practical expedient, not to report the value of unsatisfied performance obligations for contracts with customers that have an expected duration of one year or less. The amount of unsatisfied performance obligations for contracts with customers which extend beyond one year as of June 30, 2026 was $0.1 million.Significant JudgmentsThe Company determined that the majority of its contracts with customers contain one performance obligation. The Company markets the products and services as an integrated package building off its curriculum offerings. It does not market distinct products or services to be sold independently from the curriculum offering. The Company provides the significant service of integrating the goods and services into the operation of the school and education of its students, for which the customer has contracted.The Company has determined that the time elapsed method is the most appropriate measure of progress towards the satisfaction of the performance obligation. Generally, the Company delivers the integrated products and services package over the course of the Company’s fiscal year. This package includes enrollment, marketing, teacher training, etc. in addition to the core curriculum and instruction. All of these activities are necessary and contribute to the overall education of its students, which occurs evenly throughout the year. Accordingly, the Company recognizes revenue on a straight-line basis.The Company determined that the expected value method is the most appropriate method to account for variable consideration and the Company’s forecasting method is an estimation process that uses probability to determine expected funding. On a monthly basis, the Company estimates the total funds each school will receive in a particular school year and the amount of full-year school revenues and operating expenses to determine the amount of revenue the Company will recognize. Enrollment and state funding rates are key inputs to this estimate. The estimates are adjusted monthly, and a cumulative catch-up adjustment is recorded to revenue as necessary to reflect the total revenues earned to date to be proportional to the total revenues to be earned in the fiscal year. The Company builds in known constraints (i.e., enrollment, funding, net operating losses, etc.) into the estimate of the variable consideration to record the most probable amount.Sales TaxesSales tax collected from customers is excluded from revenues. Collected but unremitted sales tax is included as part of accrued liabilities in the consolidated balance sheets. Revenues do not include sales tax as the Company considers itself a pass-through conduit for collecting and remitting sales tax.Shipping and Handling CostsShipping and handling costs are expensed when incurred and are classified as instructional costs and services in the consolidated statements of operations. Shipping and handling charges invoiced to a customer are included in revenues.Research and Development CostsAll research and development costs, including patent application costs, are expensed as incurred. Research and development costs totaled $22.0 million, $16.6 million and $16.7 million for the years ended June 30, 2026, 2025 and 2024, respectively, and are included within selling, general and administrative expenses in the consolidated statements of operations.Cash, Cash Equivalents and Restricted CashCash and cash equivalents generally consist of cash on hand and cash held in money market and demand deposit accounts. The Company considers all highly liquid investments with maturities of three months or less when purchased to be cash equivalents. The Company periodically has cash balances which exceed federally insured limits.Investments in Marketable SecuritiesThe Company’s marketable securities generally consist of bonds and other securities which are classified as held-to-maturity. The securities with maturities between three months and one year are classified as short-term and are included in marketable securities on the consolidated balance sheets. The securities with maturities greater than one year are classified as long-term and are included in deposits and other assets on the consolidated balance sheets. Held-to-maturity securities are recorded at their amortized cost. The Company recorded interest income of $30.4 million, $31.6 million and $25.6 million for the years ended June 30, 2026, 2025 and 2024, respectively. This activity is recorded within other income (expense) within the consolidated statements of operations.The Company reviews the held-to-maturity debt securities for declines in fair value below the amortized cost basis under the credit loss model of Accounting Standards Codification (“ASC”) Topic 326, Financial Instruments – Credit Losses (“ASC 326”). Any decline in fair value related to a credit loss is recognized in the consolidated statements of operations, with the amount of the loss limited to the difference between fair value and amortized cost. As of June 30, 2026 and 2025, the allowance for credit losses recognized related to held-to-maturity debt securities was $0.2 million and zero, respectively.As of June 30, 2026, the Company’s marketable securities consisted of investments in corporate bonds, U.S. Treasury notes and commercial paper. The short-term and long-term portions were $203.6 million and $76.2 million, respectively. The maturities of the Company’s long-term marketable debt securities range from one to two years.The following table summarizes the amortized cost, net carrying amount, and fair value disaggregated by class of instrument (in thousands).<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:29.31%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:29.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;">Allowance for</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;">Net Carrying</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;">Gross Unrealized</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amortized Cost</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Credit Losses</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Gains (Losses)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;background:#cceeff;margin:0pt;padding:0pt;">Corporate Bonds</td><td style="vertical-align:bottom;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;background:#cceeff;margin:0pt;padding:0pt;"> 112,160</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;background:#cceeff;margin:0pt;padding:0pt;"> (160)</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;background:#cceeff;margin:0pt;padding:0pt;"> 112,000</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13%;background:#cceeff;margin:0pt;padding:0pt;"> (269)</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;background:#cceeff;margin:0pt;padding:0pt;"> 111,731</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;margin:0pt;padding:0pt;">U.S. Treasury Notes</td><td style="vertical-align:bottom;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"> 141,689</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;"> (50)</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;"> 141,639</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;"> (259)</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"> 141,380</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;background:#cceeff;margin:0pt;padding:0pt;">Commercial Paper</td><td style="vertical-align:bottom;width:2.24%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 25,956</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (12)</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 25,944</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> -</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 25,944</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"> 279,805</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;"> (222)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;"> 279,583</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;"> (528)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"> 279,055</td></tr></table>As of June 30, 2025, the Company’s marketable securities consisted of investments in corporate bonds, U.S. Treasury notes, and commercial paper. The short-term and long-term portions were $202.8 million and $26.1 million, respectively. The maturities of the Company’s long-term marketable debt securities range from one to two years. The following table summarizes the amortized cost, net carrying amount, and fair value disaggregated by class of instrument (in thousands).<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:29.31%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:29.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;">Allowance for</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;">Net Carrying</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;">Gross Unrealized</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amortized Cost</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Credit Losses</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Gains (Losses)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;background:#cceeff;margin:0pt;padding:0pt;">Corporate Bonds</td><td style="vertical-align:bottom;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;background:#cceeff;margin:0pt;padding:0pt;"> 48,837</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;background:#cceeff;margin:0pt;padding:0pt;"> -</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;background:#cceeff;margin:0pt;padding:0pt;"> 48,837</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13%;background:#cceeff;margin:0pt;padding:0pt;"> 97</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;background:#cceeff;margin:0pt;padding:0pt;"> 48,934</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;margin:0pt;padding:0pt;">U.S. Treasury Notes</td><td style="vertical-align:bottom;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"> 35,816</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;"> -</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;"> 35,816</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;"> 27</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"> 35,843</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;background:#cceeff;margin:0pt;padding:0pt;">Commercial Paper</td><td style="vertical-align:bottom;width:2.24%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 144,257</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> -</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 144,257</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (6)</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 144,251</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"> 228,910</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;"> -</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;"> 228,910</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;"> 118</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"> 229,028</td></tr></table>In addition to bonds and other held-to-maturity securities, the Company’s marketable securities also include investments in publicly held equity securities. The publicly held equity securities have readily determinable fair values, are included in deposits and other assets on the consolidated balance sheets, and are measured at fair value with changes recognized in other income (expense) within the consolidated statement of operations.As of June 30, 2026 and 2025, the Company’s investments in publicly held equity securities were $42.3 million and $19.9 million, respectively. For the years ended June 30, 2026, 2025 and 2024, the Company recorded a net unrealized (losses) gains of ($24.0) million, $1.0 million, and zero, respectively, related to changes in the fair value of the underlying securities of its publicly held equity securities. Allowance for Credit LossesThe Company maintains an allowance for credit losses primarily for estimated losses resulting from the inability or failure of individual customers to make required payments. The Company maintains an allowance under ASC 326 based on historical losses, changes in payment history, customer-specific information, current economic conditions, and reasonable and supportable forecasts of future economic conditions. The allowance under ASC 326 is updated as additional losses are incurred or information becomes available related to the customer or economic conditions. The Company’s allowance for credit losses increased from $31.1 million as of June 30, 2025 to $31.3 million as of June 30, 2026. The increase of $0.2 million is due primarily to a $16.4 million current year provision, less $16.2 million in adjustments and amounts written off. The Company’s allowance for credit losses decreased from $31.3 million as of June 30, 2024 to $31.1 million as of June 30, 2025. The decrease of $0.2 million is due primarily to a $15.3 million current year provision, less $15.5 million in amounts written off.The Company writes off accounts receivable based on the age of the receivable and the facts and circumstances surrounding the customer and reasons for non-payment. Actual write-offs might differ from the recorded allowance. InventoriesInventories consist primarily of textbooks and curriculum materials, a majority of which are supplied to virtual and blended public schools, and utilized directly by students. Inventories represent items that are purchased and held for sale and are recorded at the lower of cost (first-in, first-out method) or net realizable value. The Company classifies its inventory as current or long-term based on the holding period. As of June 30, 2026 and 2025, $14.7 million and $13.6 million, respectively, of inventory, net of reserves, was deemed long-term and included in deposits and other assets on the consolidated balance sheets. The provision for excess and obsolete inventory is established based upon the evaluation of the quantity on hand relative to demand. The excess and obsolete inventory reserve was $9.4 million and $6.8 million at June 30, 2026 and 2025, respectively.Other Current AssetsOther current assets primarily include textbooks, curriculum materials and other supplies which are expected to be returned upon the completion of the school year. Materials not returned are expensed as part of instructional costs and services. Capitalized Software-as-a-Service CostsThe Company capitalizes Software-as-a-Service (“SaaS”) license and implementation costs incurred in cloud computing contracts that are service contracts if they meet certain requirements. Those requirements are similar to the requirements for capitalizing costs incurred to develop internal-use software. Capitalization of SaaS costs ceases once the project is substantially complete and the software is ready for its intended purpose. Amortization is computed using the straight-line method over the term of the associated hosting contract, usually between three and five years. The Company classifies its SaaS implementation costs as current or long-term based on the terms of the associated hosting contract. SaaS implementation costs deemed short-term are included in prepaid expenses, and those deemed long-term are included in deposits and other assets, on the consolidated balance sheets. Impairment is recognized when it is no longer probable that the SaaS project will be completed and placed in service.As of June 30, 2026 and 2025, the Company recorded $18.0 million and $17.5 million, respectively, of costs related to SaaS implementation within prepaid expenses in the consolidated balance sheets. As of June 30, 2026 and 2025, the Company recorded $28.1 million and $43.3 million, respectively, of costs related to SaaS implementation within deposits and other assets in the consolidated balance sheets.During the years ended June 30, 2026, 2025 and 2024, the Company amortized $13.8 million, $3.4 million, and zero, respectively, of SaaS implementation costs to instructional costs and services. SaaS implementation costs amortized to selling, general and administrative expenses were $17.3 million, $16.0 million, and $15.8 million, during the years ended June 30, 2026, 2025 and 2024, respectively. There were no material impairments of SaaS implementation costs for the years ended June 30, 2026, 2025 and 2024.Property and EquipmentProperty and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization expense is calculated using the straight-line method over the estimated useful life of the asset (or the lesser of the term of the lease and the estimated useful life of the asset under the finance lease). Amortization of assets capitalized under finance lease arrangements is included in depreciation expense. Leasehold improvements are amortized over the lesser of the lease term or the estimated useful life of the asset. The determination of the lease term is discussed below under “Leases.”Property and equipment are depreciated over the following useful lives:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:46.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:51.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:46.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.74%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:51.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Useful Life</td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:46.09%;background:#cceeff;margin:0pt;padding:0pt;">Computer hardware</td><td style="vertical-align:bottom;white-space:nowrap;width:2.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.16%;background:#cceeff;margin:0pt;padding:0pt;">3 - 5 years</td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:46.09%;margin:0pt;padding:0pt;">Computer software</td><td style="vertical-align:bottom;white-space:nowrap;width:2.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.16%;margin:0pt;padding:0pt;">3 - 5 years</td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:46.09%;background:#cceeff;margin:0pt;padding:0pt;">Financed computers and printers</td><td style="vertical-align:bottom;white-space:nowrap;width:2.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.16%;background:#cceeff;margin:0pt;padding:0pt;">3 years </td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:46.09%;margin:0pt;padding:0pt;">Web site development</td><td style="vertical-align:bottom;white-space:nowrap;width:2.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.16%;margin:0pt;padding:0pt;">3 - 5 years</td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:46.09%;background:#cceeff;margin:0pt;padding:0pt;">Office equipment</td><td style="vertical-align:bottom;white-space:nowrap;width:2.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.16%;background:#cceeff;margin:0pt;padding:0pt;">3 years </td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:46.09%;margin:0pt;padding:0pt;">Furniture and fixtures</td><td style="vertical-align:bottom;white-space:nowrap;width:2.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.16%;margin:0pt;padding:0pt;">5 - 7 years </td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:46.09%;background:#cceeff;margin:0pt;padding:0pt;">Leasehold improvements</td><td style="vertical-align:bottom;white-space:nowrap;width:2.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:51.16%;background:#cceeff;margin:0pt;padding:0pt;">Shorter of useful life or term of the lease</td></tr></table>The Company makes an estimate of unreturned student computers and printers based on an analysis of recent trends of returns. The Company recorded accelerated depreciation of $5.4 million, $4.3 million and $4.0 million for the years ended June 30, 2026, 2025 and 2024, respectively, related to unreturned student computers and printers.The Company fully expenses computer peripheral equipment (e.g., keyboards, mouses) upon purchase as recovery has been determined to be uneconomical. These expenses totaled $4.4 million, $3.8 million and $4.0 million for the years ended June 30, 2026, 2025 and 2024, respectively, and are recorded as instructional costs and services.Capitalized Software CostsThe Company develops software for internal use. Software development costs incurred during the application development stage are capitalized. The Company amortizes these costs over the estimated useful life of the software, which is generally three years. Capitalized software development costs are stated at cost less accumulated amortization.Capitalized software additions totaled $61.6 million, $36.4 million and $40.7 million for the years ended June 30, 2026, 2025 and 2024, respectively. There were no material write-downs of capitalized software projects for the years ended June 30, 2026, 2025 and 2024.Capitalized Curriculum Development CostsThe Company internally develops curriculum, which is primarily provided as online content and accessed via the Internet. The Company also creates textbooks and other materials that are complementary to online content.The Company capitalizes curriculum development costs incurred during the application development stage, as well as the design and deployment phases of the project. As a result, a significant portion of the Company’s courseware development costs qualify for capitalization due to the concentration of its development efforts on the content of the courseware. Capitalization ends when a course is available for general release to its customers, at which time amortization of the capitalized costs begins. The period of time over which these development costs are amortized is generally five years.Total capitalized curriculum development additions were $16.7 million, $21.8 million and $18.7 million for the years ended June 30, 2026, 2025 and 2024, respectively. These amounts are recorded on the consolidated balance sheets, net of amortization charges. There were no material write-downs of capitalized curriculum development costs for the years ended June 30, 2026, 2025 and 2024.Leases The Company’s principal leasing activities include computers and peripherals, classified as finance leases, and facilities, classified as operating leases.Leases are classified as operating leases unless they meet any of the criteria below to be classified as a finance lease:<table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the lease transfers ownership of the asset at the end of the lease; </td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the lease grants an option to purchase the asset which the lessee is expected to exercise; </td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the lease term reflects a major part of the asset’s economic life; </td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the present value of the lease payments equals or exceeds the fair value of the asset; or </td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the asset is specialized with no alternative use to the lessor at the end of the term. </td></tr></table>Finance Leases The Company enters into agreements to finance the purchase of computers and peripherals. Individual leases typically include 3-year payment terms. The Company pledges the assets financed to secure the outstanding leases. Operating Leases The Company enters into agreements for facilities that serve as offices for its headquarters and school operations. Lease terms vary between 1 and 7 years. Certain leases include renewal options, usually based upon current market rates, as well as termination rights. The Company performs an evaluation of each lease to determine if the lease payments included in the renewal option should be included in the initial measurement of the lease liability.Discount Rate The present value of the lease payments is calculated using either the rate implicit in the lease, or the lessee’s incremental borrowing rate, over the lease term. For the majority of the Company’s finance and operating leases, the stated rate is not defined within the lease terms. Therefore, the Company uses its incremental borrowing rate as the discount rate. The incremental borrowing rate is defined as the rate of interest that a lessee would have to pay to borrow on a collateralized basis over a similar term for an amount equal to the lease payments in a similar economic environment and is calculated using comparative credit ratings.Policy Elections Short-term Leases The Company has elected as an ongoing accounting policy election not to record a right-of-use asset or lease liability on its short-term facility leases of 12 months or less, and will expense its lease payments on a straight-line basis over the lease term. The accounting policy election is made by class of underlying asset to which the right of use relates. The Company has elected to apply the accounting policy election only to operating leases.Goodwill and Intangible AssetsThe Company records as goodwill the excess of the purchase price over the fair value of the identifiable net assets acquired. Finite-lived intangible assets acquired in business combinations subject to amortization are recorded at their fair value. Finite-lived intangible assets include trade names, acquired customers and distributors, developed technology, and non-compete agreements. Such intangible assets are amortized on a straight-line basis over their estimated useful lives. Amortization expense for the years ended June 30, 2026, 2025 and 2024 was $7.4 million, $9.9 million and $12.9 million, respectively, and is included within selling, general, and administrative expenses in the consolidated statements of operations. Future amortization of intangible assets is expected to be $5.9 million, $4.1 million, $0.3 million, $0.2 million and $0.1 million in the fiscal years ending June 30, 2027 through June 30, 2031, respectively, and $0.1 million thereafter.The Company reviews its finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable. If the total of the expected undiscounted future cash flows is less than the carrying amount of the asset, a loss is recognized for the difference between fair value and the carrying value of the asset. As part of the Company’s review of its long-lived assets for impairment (discussed in more detail in Note 3, “Summary of Significant Accounting Policies – Impairment of Long-Lived Assets”) during the year ended June 30, 2025, the Company recorded an aggregate impairment loss of $32.2 million, of which $32.0 million related to trade names and $0.2 million related to developed technology. The $32.2 million is recorded under impairment of long-lived assets within the consolidated statements of operations. The Company has one reporting unit. The process for testing goodwill and intangible assets with indefinite lives for impairment is performed annually, as well as when an event triggering impairment may have occurred. Companies are also allowed to qualitatively assess goodwill impairment through a screening process which would permit companies to forgo the quantitative impairment test as part of their annual goodwill impairment process. The Company performs its annual assessment on May 31st, which is then updated for any changes in condition as of June 30th. During the years ended June 30, 2026, 2025 and 2024, there were no events or changes in circumstances that would indicate that the carrying amount of the goodwill was impaired. The following table represents the balance of the Company’s goodwill for the years ended June 30, 2026, 2025 and 2024:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:88.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.79%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.34%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:88.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">($ in millions)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.79%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:88.1%;background:#cceeff;margin:0pt;padding:0pt;">Goodwill</td><td style="vertical-align:bottom;white-space:nowrap;width:2.79%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.34%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:88.1%;margin:0pt;padding:0pt;">Balance as of June 30, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:2.79%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.34%;margin:0pt;padding:0pt;"> 246.7</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:88.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.79%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.34%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:88.1%;margin:0pt;padding:0pt;">Balance as of June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.79%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.34%;margin:0pt;padding:0pt;"> 246.7</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:88.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.79%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.34%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:88.1%;margin:0pt;padding:0pt;">Balance as of June 30, 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.79%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.34%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 246.7</td></tr></table>The following table represents the balance of the Company’s intangible assets as of June 30, 2026 and 2025:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:33.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;white-space:nowrap;width:4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.92%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:6.26%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:6.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:6.01%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:top;width:33.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:4%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:32.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:28.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td></tr><tr style=""><td style="vertical-align:bottom;width:33.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">($ in millions)</td><td style="vertical-align:bottom;white-space:nowrap;width:4%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:9.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Gross Carrying Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:12.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Accumulated Amortization and Impairment</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:7.35%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Net Carrying Value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:7.96%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Gross Carrying Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:9.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Accumulated Amortization and Impairment</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:7.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Net Carrying Value</td></tr><tr style=""><td style="vertical-align:top;width:33.52%;background:#cceeff;margin:0pt;padding:0pt;">Trade names</td><td style="vertical-align:top;white-space:nowrap;width:4%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.92%;background:#cceeff;margin:0pt;padding:0pt;"> 70.6</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;background:#cceeff;margin:0pt;padding:0pt;"> (63.8)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.26%;background:#cceeff;margin:0pt;padding:0pt;"> 6.8</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.86%;background:#cceeff;margin:0pt;padding:0pt;"> 70.6</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;background:#cceeff;margin:0pt;padding:0pt;"> (60.4)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.01%;background:#cceeff;margin:0pt;padding:0pt;"> 10.2</td></tr><tr style=""><td style="vertical-align:bottom;width:33.52%;margin:0pt;padding:0pt;">Customer and distributor relationships</td><td style="vertical-align:bottom;width:4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.92%;margin:0pt;padding:0pt;"> 37.1</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;margin:0pt;padding:0pt;"> (35.8)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.26%;margin:0pt;padding:0pt;"> 1.3</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.86%;margin:0pt;padding:0pt;"> 37.1</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;margin:0pt;padding:0pt;"> (33.7)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.01%;margin:0pt;padding:0pt;"> 3.4</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:33.52%;background:#cceeff;margin:0pt;padding:0pt;">Developed technology</td><td style="vertical-align:bottom;white-space:nowrap;width:4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.92%;background:#cceeff;margin:0pt;padding:0pt;"> 21.7</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;background:#cceeff;margin:0pt;padding:0pt;"> (19.1)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.26%;background:#cceeff;margin:0pt;padding:0pt;"> 2.6</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.86%;background:#cceeff;margin:0pt;padding:0pt;"> 21.7</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;background:#cceeff;margin:0pt;padding:0pt;"> (17.3)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.01%;background:#cceeff;margin:0pt;padding:0pt;"> 4.4</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:33.52%;margin:0pt;padding:0pt;">Other</td><td style="vertical-align:bottom;white-space:nowrap;width:4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.92%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1.4</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1.2)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.26%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 0.2</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.86%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1.4</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1.2)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 0.2</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:33.52%;background:#cceeff;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.92%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 130.8</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (119.9)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.26%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 10.9</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.86%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 130.8</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (112.6)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.01%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 18.2</td></tr></table>Impairment of Long-Lived AssetsLong-lived assets include property, equipment, right-of-use assets, capitalized curriculum and software developed or obtained for internal use. Management reviews the Company’s recorded long-lived assets for impairment annually or whenever events or changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable. The Company determines the extent to which an asset may be impaired based upon its expectation of the asset’s future usability as well as reasonable assurance that the future cash flows associated with the asset will be in excess of its carrying amount. If the total of the expected undiscounted future cash flows is less than the carrying amount of the asset, a loss is recognized for the difference between fair value and the carrying value of the asset. During the year ended June 30, 2025, the Company reviewed an asset group unrelated to its core operations, comprised entirely of Galvanize, a wholly-owned subsidiary, for impairment and determined that the carrying value exceeded its fair value. This review was prompted by changes in the expected use of certain long-lived assets as the Company decided to exit specific leased facilities. The fair value of the asset group was determined using a discounted cash flow methodology based on expected future cash flows. The Company recorded an impairment loss of $59.5 million, which is separately disclosed in the consolidated statements of operations under impairment of long-lived assets and included in income from operations. This loss comprises $32.2 million associated with intangible assets and $27.3 million related to operating lease right-of-use assets. During the years ended June 30, 2026 and 2024, there were no events or changes in circumstances that may indicate that the carrying amount of the long-lived assets may not be recoverable. Income TaxesDeferred tax assets and liabilities are computed based on the difference between the financial reporting and income tax bases of assets and liabilities using the enacted marginal tax rate. The net deferred tax asset is reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some portion or all of the net deferred tax asset will not be realized.Stock-Based CompensationThe Company estimates the fair value of share-based awards on the date of grant. The fair value of restricted stock awards is based on the closing price of the Company’s common stock on the date of grant. Certain restricted stock awards with a market-based performance component are valued using a Monte Carlo simulation model that considers a variety of factors, including, but not limited to, the Company’s common stock price, risk-free rate, and expected stock price volatility over the expected life of awards. The Company recognizes forfeitures of share-based awards as they occur in the period of forfeiture.Advertising and Marketing CostsAdvertising and marketing costs consist primarily of internet advertising and online marketing, and are expensed when incurred. Advertising costs totaled $92.1 million, $103.6 million and $96.5 million for the years ended June 30, 2026, 2025 and 2024, respectively, and are included within selling, general, and administrative expenses in the consolidated statements of operations. Fair Value MeasurementsFair value is the price that would be received to sell an asset or paid to transfer a liability, in the principal or most advantageous market for the asset or liability, in an orderly transaction between market participants at the measurement date. Measurements are described in a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.The three levels of inputs used to measure fair value are:<table style="border-collapse:collapse;border:0;"><tr><td style="width:36pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:43.2pt;padding:0pt;">Level 1: </td><td style="padding:0pt;">Inputs based on quoted market prices for identical assets or liabilities in active markets at the measurement date;</td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="width:36pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:43.2pt;padding:0pt;">Level 2: </td><td style="padding:0pt;">Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data; and</td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="width:36pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:43.2pt;padding:0pt;">Level 3: </td><td style="padding:0pt;">Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. The inputs are unobservable in the market and significant to the instrument’s valuation.</td></tr></table>The carrying values reflected in the consolidated balance sheets for cash and cash equivalents, receivables, and short-term obligations approximate their fair values, as they are largely short-term in nature. As of June 30, 2026, the estimated fair value of the long-term debt was $747.6 million. The Company estimated the fair value based on the quoted market prices in an inactive market (Level 2). The long-term debt, comprised of the Company’s convertible senior notes due 2027, is recorded at face value less the unamortized debt issuance costs on its consolidated balance sheet, and is discussed in more detail in Note 7, “Debt.” As of June 30, 2026, the estimated fair value of the Company’s held-to-maturity marketable securities based on the quoted market prices in an inactive market (Level 2) was $266.2 million. As of June 30, 2026, the estimated fair value of the Company’s held-to-maturity marketable securities based on quoted prices in an active market (Level 1) was $12.9 million. As of June 30, 2026, the fair value of the Company’s publicly held equity securities was $42.3 million. The fair value was determined using quoted prices in an active market (Level 1). The held-to-maturity marketable securities and publicly held equity securities are discussed in more detail in Note 3, “Summary of Significant Accounting Policies - Investments in Marketable Securities.”There was no activity related to the Company’s fair value measurements categorized as Level 3 in the valuation hierarchy, valued on a recurring basis, for the years ended June 30, 2026, 2025 and 2024.Net Income (Loss) Per Common ShareBasic net income (loss) per common share is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding during the reporting period. The weighted average number of shares of common stock outstanding includes vested restricted stock awards. Diluted net income (loss) per share (“EPS”) reflects the potential dilution that could occur assuming vesting of all dilutive unvested restricted stock awards. The dilutive effect of restricted stock awards is determined using the treasury stock method. Under the treasury stock method, the proceeds received from the vesting of restricted stock awards, the amount of compensation cost for future service not yet recognized by the Company and the amount of tax benefits that would be recorded as income tax expense when the stock options become deductible for income tax purposes are all assumed to be used to repurchase shares of the Company’s common stock. Restricted stock awards are not included in the computation of diluted net income (loss) per share when they are anti-dilutive. Common stock outstanding reflected in the Company’s consolidated balance sheets includes restricted stock awards outstanding. The dilutive effect of the Company’s convertible debt is determined using the if-converted method when the Company’s stock is trading above the conversion price. However, based on the structure of the instrument and how it is settled upon conversion, it would produce a similar result as the previously applied treasury stock method. The dilutive effect of the Company’s employee stock purchase plan shares is also determined by the treasury stock method. Under the treasury stock method, the total expected employee payroll contributions and unrecognized compensation cost are assumed to be used to repurchase shares of the Company’s common stock.The following schedule presents the calculation of basic and diluted net income (loss) per share:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:55.39%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:top;width:55.39%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:top;width:42.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Years Ended June 30, </td></tr><tr style=""><td style="vertical-align:top;width:55.39%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:top;width:13.63%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:top;width:12.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:top;width:11.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="12" style="padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:55.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:42.38%;margin:0pt;padding:0pt;">(In thousands except share and per share data)</td></tr><tr style=""><td style="vertical-align:top;width:55.39%;background:#cceeff;margin:0pt;padding:0pt;">Basic net income per share computation:</td><td style="vertical-align:bottom;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:55.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:55.39%;background:#cceeff;margin:0pt;padding:0pt;">Net income attributable to common stockholders</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 338,192</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 287,941</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 204,183</td></tr><tr style=""><td style="vertical-align:bottom;width:55.39%;margin:0pt;padding:0pt;">Weighted average common shares — basic</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 42,717,156</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 43,041,274</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 42,626,588</td></tr><tr style=""><td style="vertical-align:top;width:55.39%;background:#cceeff;margin:0pt;padding:0pt;">Basic net income per share</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;background:#cceeff;margin:0pt;padding:0pt;"> 7.92</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;background:#cceeff;margin:0pt;padding:0pt;"> 6.69</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;background:#cceeff;margin:0pt;padding:0pt;"> 4.79</td></tr><tr style=""><td style="vertical-align:bottom;width:55.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:55.39%;background:#cceeff;margin:0pt;padding:0pt;">Diluted net income per share computation:</td><td style="vertical-align:bottom;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:55.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:middle;width:55.39%;background:#cceeff;margin:0pt;padding:0pt;">Net income attributable to common stockholders</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:12.01%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 338,192</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:10.66%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 287,941</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:10.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 204,183</td></tr><tr style=""><td style="vertical-align:top;width:55.39%;margin:0pt;padding:0pt;">Share computation:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:55.39%;background:#cceeff;margin:0pt;padding:0pt;">Weighted average common shares — basic</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:12.01%;background:#cceeff;margin:0pt;padding:0pt;"> 42,717,156</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.66%;background:#cceeff;margin:0pt;padding:0pt;"> 43,041,274</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.4%;background:#cceeff;margin:0pt;padding:0pt;"> 42,626,588</td></tr><tr style=""><td style="vertical-align:top;width:55.39%;margin:0pt;padding:0pt;">Effect of dilutive restricted stock, convertible debt, and the employee stock purchase plan</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:12.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 4,615,699</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 5,372,443</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 908,853</td></tr><tr style=""><td style="vertical-align:top;width:55.39%;background:#cceeff;margin:0pt;padding:0pt;">Weighted average common shares — diluted</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:12.01%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 47,332,855</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.66%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 48,413,717</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 43,535,441</td></tr><tr style=""><td style="vertical-align:top;width:55.39%;margin:0pt;padding:0pt;">Diluted net income per share</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"> 7.14</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;margin:0pt;padding:0pt;"> 5.95</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"> 4.69</td></tr></table>For the years ended June 30, 2026, 2025 and 2024, shares issuable in connection with restricted stock, convertible debt, and the 2025 Employee Stock Purchase Plan (the “2025 ESPP”) of 2,778,431, 2,400,621 and 7,658 respectively, were excluded from the diluted income per common share calculation because the effect would have been anti-dilutive. In connection with the issuance of the 1.125% Convertible Senior Notes due 2027 (“Notes”), the Company entered into capped call transactions (the “Capped Call Transactions”) as described further in Note 7, “Debt.” The Capped Call Transactions are intended to reduce the potential dilution to the Company’s common stock upon conversion of the Notes and/or to offset any cash payments the Company may be required to make in excess of the principal amount of the Notes.ReclassificationCertain previous year amounts have been reclassified to conform with current year presentation, as related to the balance sheets.

Recent Accounting PronouncementsAccounting Standards AdoptedIn December 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09 is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in ASU 2023-09 address investor requests for enhanced income tax information primarily through changes to the rate reconciliation and income taxes paid information. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, and for interim periods for fiscal years beginning after December 15, 2025. The Company adopted this guidance prospectively, as permitted by ASU 2023-09, in the fourth quarter of 2026. The adoption is reflected in Note 5, “Income Taxes.”Accounting Standards Not Yet AdoptedIn November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40) ("ASU 2024-03"). This update provides investors with enhanced detail regarding components of expenses presented in the income statement, aiming to improve transparency and enable precise understanding of a company’s cost structure. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. The Company will review the extent of new disclosures necessary in the coming quarters, prior to implementation during fiscal year 2028. Other than additional disclosure, the Company does not expect a change to its consolidated financial statements.In July 2025, the FASB issued ASU 2025-05, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025-05”). The update provides an optional practical expedient for public companies to estimate expected credit losses on current accounts receivable and contract assets arising from ASC 606 transactions by assuming that conditions at the balance sheet date remain unchanged over the assets’ remaining lives. ASU 2025-05 is effective for fiscal years beginning after December 15, 2025 (including interim periods), with early adoption permitted. The Company is assessing the impact of the ASU and whether to elect the practical expedient upon adoption in fiscal year 2027.In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software (“ASU 2025-06”). ASU 2025-06 is intended to modernize and clarify the accounting for internal-use software, including updates to capitalization guidance that removes references to project stages and replaces them with the concept of a probable-to-complete recognition threshold. ASU 2025-06 is effective for fiscal years beginning after December 15, 2027, and early adoption is permitted as of the beginning of an annual period. The Company is currently evaluating the impact of this ASU on its consolidated financial statements.

Revenue RecognitionRevenue is recognized when control of the promised goods or services is transferred to the Company’s customers in an amount that reflects the consideration it expects to be entitled to in exchange for those goods or services using the following steps:<table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">identify the contract, or contracts, with a customer;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">identify the performance obligations in the contract;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">determine the transaction price;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">allocate the transaction price to the performance obligations in the contract; and</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">recognize revenue when, or as, the Company satisfies a performance obligation.</td></tr></table>Revenues related to the products and services that the Company provides to students in kindergarten through twelfth grade or adult learners are considered to be General Education or Career Learning based on the school or adult program in which the student is enrolled. General Education products and services are focused on core subjects, including math, English, science and history, for kindergarten through twelfth grade students to help build a common foundation of knowledge. Career Learning products and services are focused on developing skills to enter and succeed in careers in high-growth, in-demand industries—including information technology, healthcare and general business, for students in middle school through high school and adult learners.The majority of the Company’s contracts are with the following types of customers:<table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">a virtual or blended school whereby the amount of revenue is primarily determined by funding the school receives;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">a school or individual who licenses certain curriculum on a subscription or course-by-course basis; or</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">an enterprise that contracts with the Company to provide online job training.</td></tr></table>Funding-based ContractsThe Company provides an integrated package of systems, services, products, and professional expertise that is administered together to support a virtual or blended public school. Contracts generally span multiple years with performance obligations being isolated to annual periods which generally coincide with the fiscal year. Customers of these programs can obtain administrative support, information technology, academic support services, online curriculum, learning systems platforms and instructional services under the terms of a negotiated service agreement. The schools receive funding on a per student basis from the state in which the public school or school district is located. Shipments of materials for schools that occur in the fourth fiscal quarter and the upcoming school year are recorded in deferred revenue.The Company generates revenues under contracts with virtual and blended public schools and includes the following components, where required:<table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">providing each of a school’s students with access to the Company’s online school and lessons;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">offline learning kits, which include books and materials to supplement the online lessons; </td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the use of a personal computer and associated reclamation services;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">internet access and technology support services; </td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">instruction by a state-certified teacher; and</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">management and technology services necessary to support a virtual or blended school. In certain contracts, revenues are determined directly by per enrollment funding.</td></tr></table>To determine the ratable amount of revenue to recognize in a fiscal quarter, the Company estimates the total expected funds each school will receive in a particular school year. Total funds for a school are primarily a function of the number of students enrolled in the school and established per enrollment funding levels, which are generally published on an annual basis by the state or school district. The Company reviews its estimates of funding periodically, and updates as necessary, by adjusting its year-to-date earned revenues to be proportional to the total expected revenues to be earned during the fiscal year. Actual school funding may vary from these estimates and the impact of these differences could impact the Company’s results of operations. Since the end of the school year coincides with the end of the fiscal year, annual revenues are generally based on actual school funding and actual costs incurred (including costs for the Company’s services to the schools plus other costs the schools may incur). The Company’s reported results are subject to annual school district financial audits, which incorporate enrollment counts, funding and other routine financial audit considerations. The results of these audits are incorporated into the Company’s monthly funding estimates. Historically, aggregate funding estimates have differed from actual reimbursements, generally in the range of 2% of annual revenue or less, which may vary from year to year. For the years ended June 30, 2025, 2024 and 2023, the Company’s aggregate funding estimates differed from actual reimbursements impacting total reported revenue by approximately 0.8%, 1.8%, and 2.8%, respectively.Each state and/or school district has variations in the school funding formulas and methodologies that it uses to estimate funding for revenue recognition at its respective schools. As the Company estimates funding for each school, it takes into account the state definition for count dates on which reported enrollment numbers will be used for per pupil funding. The parameters the Company considers in estimating funding for revenue recognition purposes include school district count definitions, withdrawal rates, new registrations, average daily attendance, special needs enrollment, academic progress, historical completion, student location, funding caps and other state specified categorical program funding.Under the contracts where the Company provides products and services to schools, the Company is responsible for substantially all of the expenses incurred by the school and has generally agreed to absorb any operating losses of the schools in a given school year. These school operating losses represent the excess of costs incurred over revenues earned by the virtual or blended public school (the school’s expected funding), as reflected in its respective financial statements, including Company charges to the schools. To the extent a school does not receive sufficient funding for each student enrolled in the school, the school would still incur costs associated with serving the unfunded enrollment. If losses due to unfunded enrollments result in a net operating loss for the year that loss is reflected as a reduction in the revenues and net receivables that the Company collects from the school. A school net operating loss in one year does not necessarily mean the Company anticipates losing money on the entire contract with the school. However, a school’s net operating loss may reduce the Company’s ability to collect its management fees in full and revenues recognized are constrained to reflect the expected cash collections from such schools. The Company records the school’s estimated net operating loss against revenues based upon the percentage of actual revenues in the period to total estimated revenues for the fiscal year. Actual school net operating losses may vary from these estimates or revisions, and the impact of these differences could have a material impact on results of operations. For the years ended June 30, 2026, 2025 and 2024, the Company’s revenues included an adjustment for net school operating losses at the schools of $17.2 million, $14.5 million, and $17.0 million, respectively. Because the Company has agreed to absorb any operating losses of the schools, the Company records the expenses incurred by the school as both revenue and expense in the consolidated statements of operations. For the years ended June 30, 2026, 2025 and 2024, the Company recognized revenue associated with these schools of $683.6 million, $662.6 million and $576.4 million, respectively.Subscription-based ContractsThe Company provides certain online curriculum and services to schools and school districts under subscription agreements. Revenues from the licensing of curriculum under subscription arrangements are recognized on a ratable basis over the subscription period. Revenues from professional consulting, training and support services are deferred and recognized ratably over the service period.In addition, the Company contracts with individual customers who have access for one to two years to company-provided online curriculum and generally prepay for services to be received. Adult learners enroll in courses that provide specialized training in a specific industry. Each of these contracts is considered to be one performance obligation. The Company recognizes these revenues ratably over the maximum term of the customer contract based on the defined contract price.Enterprise ContractsThe Company provides online job training over a specified contract period to enterprises. Each of these contracts is considered to be one performance obligation. The Company recognizes these revenues based on the number of students trained during the term of the contract based on the defined contract price.Disaggregated RevenuesThe revenue recognition related to the types of contracts discussed above can span both of the Company’s lines of revenue as shown below. For example, a funding-based contract may include both General Education and Career Learning students. In total, there is one performance obligation and revenue is recognized over the fiscal year. The revenue is then disaggregated between General Education and Career Learning based on the Company’s estimated full-year enrollment totals of each category. During the years ended June 30, 2026, 2025 and 2024, approximately 96%, 95%, and 93%, respectively, of the Company’s General Education revenues, and 100%, 100% and 100%, respectively, of the Company’s Middle – High School Career Learning revenues, were from funding-based contracts. The following table presents the Company’s revenues disaggregated based on its two lines of revenue for the years ended June 30, 2026, 2025 and 2024:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:42.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Years Ended June 30, </td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.05%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="10" style="padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:42.49%;margin:0pt;padding:0pt;">(In thousands)</td></tr><tr style=""><td style="vertical-align:top;width:56%;background:#cceeff;margin:0pt;padding:0pt;">General Education</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;margin:0pt;padding:0pt;"> 1,417,785</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;margin:0pt;padding:0pt;"> 1,448,676</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;background:#cceeff;margin:0pt;padding:0pt;"> 1,289,193</td></tr><tr style=""><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;">Career Learning</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:56%;background:#cceeff;margin:0pt;padding:0pt;">Middle - High School</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;margin:0pt;padding:0pt;"> 1,043,726</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;margin:0pt;padding:0pt;"> 876,287</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;background:#cceeff;margin:0pt;padding:0pt;"> 651,191</td></tr><tr style=""><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;">Adult</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 56,570</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 80,354</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 99,685</td></tr><tr style=""><td style="vertical-align:top;width:56%;background:#cceeff;margin:0pt;padding:0pt;">Total Career Learning</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,100,296</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 956,641</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 750,876</td></tr><tr style=""><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;">Total Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,518,081</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,405,317</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,040,069</td></tr></table>Concentration of CustomersDuring each of the years ended June 30, 2026, 2025 and 2024, the Company had no contracts that represented greater than 10% of total revenues. Contract BalancesThe timing of revenue recognition, invoicing, and cash collection results in accounts receivable, unbilled receivables (a contract asset) and deferred revenue (a contract liability) in the consolidated balance sheets. Accounts receivable are recorded when there is an executed customer contract and the customer is billed. An allowance is recorded to reflect expected losses at the time the receivable is recorded. The collectability of outstanding receivables is evaluated regularly by the Company to determine if additional allowances are needed. Unbilled receivables are created when revenue is earned prior to the customer being billed. Deferred revenue is recorded when customers are billed or cash is collected in advance of services being provided. The opening and closing balances of the Company’s accounts receivable, unbilled receivables and deferred revenue are as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:42.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, </td></tr><tr style=""><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.05%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="10" style="padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:42.49%;margin:0pt;padding:0pt;">(In thousands)</td></tr><tr style=""><td style="vertical-align:top;width:56%;background:#cceeff;margin:0pt;padding:0pt;">Accounts receivable</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;margin:0pt;padding:0pt;"> 664,788</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;margin:0pt;padding:0pt;"> 559,646</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;background:#cceeff;margin:0pt;padding:0pt;"> 472,754</td></tr><tr style=""><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;">Unbilled receivables (included in accounts receivable)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"> 24,351</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"> 19,902</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;margin:0pt;padding:0pt;"> 19,499</td></tr><tr style=""><td style="vertical-align:top;width:56%;background:#cceeff;margin:0pt;padding:0pt;">Deferred revenue</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;margin:0pt;padding:0pt;"> 20,553</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;margin:0pt;padding:0pt;"> 26,995</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;background:#cceeff;margin:0pt;padding:0pt;"> 35,742</td></tr><tr style=""><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;">Deferred revenue, long-term (included in other long-term liabilities)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"> 58</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"> 327</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;margin:0pt;padding:0pt;"> 1,097</td></tr></table>The difference between the opening and closing balance of the accounts receivable and unbilled receivables relates to the timing of the Company’s billing in relation to month end and its contracts. The difference between the opening and closing balance of the deferred revenue relates to the timing difference between billings to customers and the term of the contract, as well as changes in the estimates of variable consideration. Typically, each of these balances is at its highest during the first quarter of the fiscal year and lowest at the end of the fiscal year. The amount of revenue recognized during the years ended June 30, 2026, 2025 and 2024, that was included in the previous July 1st deferred revenue balance was $25.8 million, $32.0 million, and $74.4 million, respectively. During the years ended June 30, 2026, 2025 and 2024, the Company recorded revenues of $18.4 million, $35.9 million and $51.0 million, respectively, related to performance obligations satisfied in prior periods.Performance ObligationsA performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. For the majority of its contracts, the Company’s performance obligations are satisfied over time, as the Company delivers, and the customer receives the services, over the service period of the contract. The Company’s payment terms are generally net 30 or net 45, but can vary depending on the customer or when the school receives its funding from the state.The Company has elected, as a practical expedient, not to report the value of unsatisfied performance obligations for contracts with customers that have an expected duration of one year or less. The amount of unsatisfied performance obligations for contracts with customers which extend beyond one year as of June 30, 2026 was $0.1 million.Significant JudgmentsThe Company determined that the majority of its contracts with customers contain one performance obligation. The Company markets the products and services as an integrated package building off its curriculum offerings. It does not market distinct products or services to be sold independently from the curriculum offering. The Company provides the significant service of integrating the goods and services into the operation of the school and education of its students, for which the customer has contracted.The Company has determined that the time elapsed method is the most appropriate measure of progress towards the satisfaction of the performance obligation. Generally, the Company delivers the integrated products and services package over the course of the Company’s fiscal year. This package includes enrollment, marketing, teacher training, etc. in addition to the core curriculum and instruction. All of these activities are necessary and contribute to the overall education of its students, which occurs evenly throughout the year. Accordingly, the Company recognizes revenue on a straight-line basis.The Company determined that the expected value method is the most appropriate method to account for variable consideration and the Company’s forecasting method is an estimation process that uses probability to determine expected funding. On a monthly basis, the Company estimates the total funds each school will receive in a particular school year and the amount of full-year school revenues and operating expenses to determine the amount of revenue the Company will recognize. Enrollment and state funding rates are key inputs to this estimate. The estimates are adjusted monthly, and a cumulative catch-up adjustment is recorded to revenue as necessary to reflect the total revenues earned to date to be proportional to the total revenues to be earned in the fiscal year. The Company builds in known constraints (i.e., enrollment, funding, net operating losses, etc.) into the estimate of the variable consideration to record the most probable amount.Sales TaxesSales tax collected from customers is excluded from revenues. Collected but unremitted sales tax is included as part of accrued liabilities in the consolidated balance sheets. Revenues do not include sales tax as the Company considers itself a pass-through conduit for collecting and remitting sales tax.

0.02 0.008 0.018 0.028 17200000 14500000 17000000

683600000

662600000

576400000

P2Y 0.96 0.95 0.93 1 1 1 2

<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:42.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Years Ended June 30, </td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.05%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="10" style="padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:42.49%;margin:0pt;padding:0pt;">(In thousands)</td></tr><tr style=""><td style="vertical-align:top;width:56%;background:#cceeff;margin:0pt;padding:0pt;">General Education</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;margin:0pt;padding:0pt;"> 1,417,785</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;margin:0pt;padding:0pt;"> 1,448,676</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;background:#cceeff;margin:0pt;padding:0pt;"> 1,289,193</td></tr><tr style=""><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;">Career Learning</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:56%;background:#cceeff;margin:0pt;padding:0pt;">Middle - High School</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;margin:0pt;padding:0pt;"> 1,043,726</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;margin:0pt;padding:0pt;"> 876,287</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;background:#cceeff;margin:0pt;padding:0pt;"> 651,191</td></tr><tr style=""><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;">Adult</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 56,570</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 80,354</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 99,685</td></tr><tr style=""><td style="vertical-align:top;width:56%;background:#cceeff;margin:0pt;padding:0pt;">Total Career Learning</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,100,296</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 956,641</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 750,876</td></tr><tr style=""><td style="vertical-align:top;width:56%;margin:0pt;padding:0pt;">Total Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,518,081</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,405,317</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.82%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,040,069</td></tr></table>

1417785000

1448676000

1289193000

1043726000

876287000

651191000

56570000

80354000

99685000

1100296000

956641000

750876000

2518081000

2405317000

2040069000

0 0 0

664788000

559646000

472754000

24351000

19902000

19499000

20553000

26995000

35742000

58000

327000

1097000

25800000

32000000

74400000

18400000

35900000

51000000

P30D P45D

true

100000

22000000

16600000

16700000

Investments in Marketable SecuritiesThe Company’s marketable securities generally consist of bonds and other securities which are classified as held-to-maturity. The securities with maturities between three months and one year are classified as short-term and are included in marketable securities on the consolidated balance sheets. The securities with maturities greater than one year are classified as long-term and are included in deposits and other assets on the consolidated balance sheets. Held-to-maturity securities are recorded at their amortized cost. The Company recorded interest income of $30.4 million, $31.6 million and $25.6 million for the years ended June 30, 2026, 2025 and 2024, respectively. This activity is recorded within other income (expense) within the consolidated statements of operations.The Company reviews the held-to-maturity debt securities for declines in fair value below the amortized cost basis under the credit loss model of Accounting Standards Codification (“ASC”) Topic 326, Financial Instruments – Credit Losses (“ASC 326”). Any decline in fair value related to a credit loss is recognized in the consolidated statements of operations, with the amount of the loss limited to the difference between fair value and amortized cost. As of June 30, 2026 and 2025, the allowance for credit losses recognized related to held-to-maturity debt securities was $0.2 million and zero, respectively.As of June 30, 2026, the Company’s marketable securities consisted of investments in corporate bonds, U.S. Treasury notes and commercial paper. The short-term and long-term portions were $203.6 million and $76.2 million, respectively. The maturities of the Company’s long-term marketable debt securities range from one to two years.The following table summarizes the amortized cost, net carrying amount, and fair value disaggregated by class of instrument (in thousands).<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:29.31%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:29.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;">Allowance for</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;">Net Carrying</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;">Gross Unrealized</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amortized Cost</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Credit Losses</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Gains (Losses)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;background:#cceeff;margin:0pt;padding:0pt;">Corporate Bonds</td><td style="vertical-align:bottom;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;background:#cceeff;margin:0pt;padding:0pt;"> 112,160</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;background:#cceeff;margin:0pt;padding:0pt;"> (160)</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;background:#cceeff;margin:0pt;padding:0pt;"> 112,000</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13%;background:#cceeff;margin:0pt;padding:0pt;"> (269)</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;background:#cceeff;margin:0pt;padding:0pt;"> 111,731</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;margin:0pt;padding:0pt;">U.S. Treasury Notes</td><td style="vertical-align:bottom;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"> 141,689</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;"> (50)</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;"> 141,639</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;"> (259)</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"> 141,380</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;background:#cceeff;margin:0pt;padding:0pt;">Commercial Paper</td><td style="vertical-align:bottom;width:2.24%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 25,956</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (12)</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 25,944</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> -</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 25,944</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"> 279,805</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;"> (222)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;"> 279,583</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;"> (528)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"> 279,055</td></tr></table>As of June 30, 2025, the Company’s marketable securities consisted of investments in corporate bonds, U.S. Treasury notes, and commercial paper. The short-term and long-term portions were $202.8 million and $26.1 million, respectively. The maturities of the Company’s long-term marketable debt securities range from one to two years. The following table summarizes the amortized cost, net carrying amount, and fair value disaggregated by class of instrument (in thousands).<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:29.31%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:29.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;">Allowance for</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;">Net Carrying</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;">Gross Unrealized</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amortized Cost</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Credit Losses</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Gains (Losses)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;background:#cceeff;margin:0pt;padding:0pt;">Corporate Bonds</td><td style="vertical-align:bottom;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;background:#cceeff;margin:0pt;padding:0pt;"> 48,837</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;background:#cceeff;margin:0pt;padding:0pt;"> -</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;background:#cceeff;margin:0pt;padding:0pt;"> 48,837</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13%;background:#cceeff;margin:0pt;padding:0pt;"> 97</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;background:#cceeff;margin:0pt;padding:0pt;"> 48,934</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;margin:0pt;padding:0pt;">U.S. Treasury Notes</td><td style="vertical-align:bottom;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"> 35,816</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;"> -</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;"> 35,816</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;"> 27</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"> 35,843</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;background:#cceeff;margin:0pt;padding:0pt;">Commercial Paper</td><td style="vertical-align:bottom;width:2.24%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 144,257</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> -</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 144,257</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (6)</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 144,251</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"> 228,910</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;"> -</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;"> 228,910</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;"> 118</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"> 229,028</td></tr></table>In addition to bonds and other held-to-maturity securities, the Company’s marketable securities also include investments in publicly held equity securities. The publicly held equity securities have readily determinable fair values, are included in deposits and other assets on the consolidated balance sheets, and are measured at fair value with changes recognized in other income (expense) within the consolidated statement of operations.As of June 30, 2026 and 2025, the Company’s investments in publicly held equity securities were $42.3 million and $19.9 million, respectively. For the years ended June 30, 2026, 2025 and 2024, the Company recorded a net unrealized (losses) gains of ($24.0) million, $1.0 million, and zero, respectively, related to changes in the fair value of the underlying securities of its publicly held equity securities.

30400000

31600000

25600000

-200000

203600000

76200000

The following table summarizes the amortized cost, net carrying amount, and fair value disaggregated by class of instrument (in thousands).<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:29.31%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:29.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;">Allowance for</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;">Net Carrying</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;">Gross Unrealized</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amortized Cost</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Credit Losses</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Gains (Losses)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;background:#cceeff;margin:0pt;padding:0pt;">Corporate Bonds</td><td style="vertical-align:bottom;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;background:#cceeff;margin:0pt;padding:0pt;"> 112,160</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;background:#cceeff;margin:0pt;padding:0pt;"> (160)</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;background:#cceeff;margin:0pt;padding:0pt;"> 112,000</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13%;background:#cceeff;margin:0pt;padding:0pt;"> (269)</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;background:#cceeff;margin:0pt;padding:0pt;"> 111,731</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;margin:0pt;padding:0pt;">U.S. Treasury Notes</td><td style="vertical-align:bottom;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"> 141,689</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;"> (50)</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;"> 141,639</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;"> (259)</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"> 141,380</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;background:#cceeff;margin:0pt;padding:0pt;">Commercial Paper</td><td style="vertical-align:bottom;width:2.24%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 25,956</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (12)</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 25,944</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> -</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 25,944</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"> 279,805</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;"> (222)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;"> 279,583</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;"> (528)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"> 279,055</td></tr></table>The following table summarizes the amortized cost, net carrying amount, and fair value disaggregated by class of instrument (in thousands).<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:29.31%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:29.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;">Allowance for</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;">Net Carrying</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;">Gross Unrealized</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amortized Cost</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Credit Losses</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Gains (Losses)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;background:#cceeff;margin:0pt;padding:0pt;">Corporate Bonds</td><td style="vertical-align:bottom;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;background:#cceeff;margin:0pt;padding:0pt;"> 48,837</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;background:#cceeff;margin:0pt;padding:0pt;"> -</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;background:#cceeff;margin:0pt;padding:0pt;"> 48,837</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13%;background:#cceeff;margin:0pt;padding:0pt;"> 97</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;background:#cceeff;margin:0pt;padding:0pt;"> 48,934</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;margin:0pt;padding:0pt;">U.S. Treasury Notes</td><td style="vertical-align:bottom;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"> 35,816</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;"> -</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;"> 35,816</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;"> 27</td><td style="vertical-align:bottom;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"> 35,843</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;background:#cceeff;margin:0pt;padding:0pt;">Commercial Paper</td><td style="vertical-align:bottom;width:2.24%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 144,257</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> -</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 144,257</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (6)</td><td style="vertical-align:bottom;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 144,251</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.31%;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"> 228,910</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.37%;margin:0pt;padding:0pt;"> -</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.98%;margin:0pt;padding:0pt;"> 228,910</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13%;margin:0pt;padding:0pt;"> 118</td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.11%;margin:0pt;padding:0pt;"> 229,028</td></tr></table>

112160000

-160000

112000000

269000

111731000

141689000

-50000

141639000

259000

141380000

25956000

-12000

25944000

279805000

-222000

279583000

528000

279055000

202800000

26100000

48837000

97000

48934000

35816000

27000

35843000

144257000

6000

144251000

228910000

118000

229028000

42300000

19900000

-24000000

1000000

31100000

31300000

200000

16400000 16200000

31300000

31100000

200000

15300000 15500000

14700000

13600000

9400000

6800000

18000000

17500000

28100000

43300000

13800000

3400000

17300000

16000000

15800000

Property and EquipmentProperty and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization expense is calculated using the straight-line method over the estimated useful life of the asset (or the lesser of the term of the lease and the estimated useful life of the asset under the finance lease). Amortization of assets capitalized under finance lease arrangements is included in depreciation expense. Leasehold improvements are amortized over the lesser of the lease term or the estimated useful life of the asset. The determination of the lease term is discussed below under “Leases.”Property and equipment are depreciated over the following useful lives:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:46.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:51.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:46.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.74%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:51.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Useful Life</td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:46.09%;background:#cceeff;margin:0pt;padding:0pt;">Computer hardware</td><td style="vertical-align:bottom;white-space:nowrap;width:2.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.16%;background:#cceeff;margin:0pt;padding:0pt;">3 - 5 years</td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:46.09%;margin:0pt;padding:0pt;">Computer software</td><td style="vertical-align:bottom;white-space:nowrap;width:2.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.16%;margin:0pt;padding:0pt;">3 - 5 years</td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:46.09%;background:#cceeff;margin:0pt;padding:0pt;">Financed computers and printers</td><td style="vertical-align:bottom;white-space:nowrap;width:2.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.16%;background:#cceeff;margin:0pt;padding:0pt;">3 years </td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:46.09%;margin:0pt;padding:0pt;">Web site development</td><td style="vertical-align:bottom;white-space:nowrap;width:2.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.16%;margin:0pt;padding:0pt;">3 - 5 years</td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:46.09%;background:#cceeff;margin:0pt;padding:0pt;">Office equipment</td><td style="vertical-align:bottom;white-space:nowrap;width:2.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.16%;background:#cceeff;margin:0pt;padding:0pt;">3 years </td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:46.09%;margin:0pt;padding:0pt;">Furniture and fixtures</td><td style="vertical-align:bottom;white-space:nowrap;width:2.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.16%;margin:0pt;padding:0pt;">5 - 7 years </td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:46.09%;background:#cceeff;margin:0pt;padding:0pt;">Leasehold improvements</td><td style="vertical-align:bottom;white-space:nowrap;width:2.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:51.16%;background:#cceeff;margin:0pt;padding:0pt;">Shorter of useful life or term of the lease</td></tr></table>The Company makes an estimate of unreturned student computers and printers based on an analysis of recent trends of returns. The Company recorded accelerated depreciation of $5.4 million, $4.3 million and $4.0 million for the years ended June 30, 2026, 2025 and 2024, respectively, related to unreturned student computers and printers.The Company fully expenses computer peripheral equipment (e.g., keyboards, mouses) upon purchase as recovery has been determined to be uneconomical. These expenses totaled $4.4 million, $3.8 million and $4.0 million for the years ended June 30, 2026, 2025 and 2024, respectively, and are recorded as instructional costs and services.

P5Y

P3Y

P5Y

P3Y

P7Y

5400000 4300000 4000000

4400000

3800000

4000000

61600000

36400000

40700000

Leases The Company’s principal leasing activities include computers and peripherals, classified as finance leases, and facilities, classified as operating leases.Leases are classified as operating leases unless they meet any of the criteria below to be classified as a finance lease:<table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the lease transfers ownership of the asset at the end of the lease; </td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the lease grants an option to purchase the asset which the lessee is expected to exercise; </td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the lease term reflects a major part of the asset’s economic life; </td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the present value of the lease payments equals or exceeds the fair value of the asset; or </td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the asset is specialized with no alternative use to the lessor at the end of the term. </td></tr></table>Finance Leases The Company enters into agreements to finance the purchase of computers and peripherals. Individual leases typically include 3-year payment terms. The Company pledges the assets financed to secure the outstanding leases. Operating Leases The Company enters into agreements for facilities that serve as offices for its headquarters and school operations. Lease terms vary between 1 and 7 years. Certain leases include renewal options, usually based upon current market rates, as well as termination rights. The Company performs an evaluation of each lease to determine if the lease payments included in the renewal option should be included in the initial measurement of the lease liability.Discount Rate The present value of the lease payments is calculated using either the rate implicit in the lease, or the lessee’s incremental borrowing rate, over the lease term. For the majority of the Company’s finance and operating leases, the stated rate is not defined within the lease terms. Therefore, the Company uses its incremental borrowing rate as the discount rate. The incremental borrowing rate is defined as the rate of interest that a lessee would have to pay to borrow on a collateralized basis over a similar term for an amount equal to the lease payments in a similar economic environment and is calculated using comparative credit ratings.Policy Elections Short-term Leases The Company has elected as an ongoing accounting policy election not to record a right-of-use asset or lease liability on its short-term facility leases of 12 months or less, and will expense its lease payments on a straight-line basis over the lease term. The accounting policy election is made by class of underlying asset to which the right of use relates. The Company has elected to apply the accounting policy election only to operating leases.

P7Y

P12M

Goodwill and Intangible AssetsThe Company records as goodwill the excess of the purchase price over the fair value of the identifiable net assets acquired. Finite-lived intangible assets acquired in business combinations subject to amortization are recorded at their fair value. Finite-lived intangible assets include trade names, acquired customers and distributors, developed technology, and non-compete agreements. Such intangible assets are amortized on a straight-line basis over their estimated useful lives. Amortization expense for the years ended June 30, 2026, 2025 and 2024 was $7.4 million, $9.9 million and $12.9 million, respectively, and is included within selling, general, and administrative expenses in the consolidated statements of operations. Future amortization of intangible assets is expected to be $5.9 million, $4.1 million, $0.3 million, $0.2 million and $0.1 million in the fiscal years ending June 30, 2027 through June 30, 2031, respectively, and $0.1 million thereafter.The Company reviews its finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable. If the total of the expected undiscounted future cash flows is less than the carrying amount of the asset, a loss is recognized for the difference between fair value and the carrying value of the asset. As part of the Company’s review of its long-lived assets for impairment (discussed in more detail in Note 3, “Summary of Significant Accounting Policies – Impairment of Long-Lived Assets”) during the year ended June 30, 2025, the Company recorded an aggregate impairment loss of $32.2 million, of which $32.0 million related to trade names and $0.2 million related to developed technology. The $32.2 million is recorded under impairment of long-lived assets within the consolidated statements of operations. The Company has one reporting unit. The process for testing goodwill and intangible assets with indefinite lives for impairment is performed annually, as well as when an event triggering impairment may have occurred. Companies are also allowed to qualitatively assess goodwill impairment through a screening process which would permit companies to forgo the quantitative impairment test as part of their annual goodwill impairment process. The Company performs its annual assessment on May 31st, which is then updated for any changes in condition as of June 30th. During the years ended June 30, 2026, 2025 and 2024, there were no events or changes in circumstances that would indicate that the carrying amount of the goodwill was impaired. The following table represents the balance of the Company’s goodwill for the years ended June 30, 2026, 2025 and 2024:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:88.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.79%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.34%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:88.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">($ in millions)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.79%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:88.1%;background:#cceeff;margin:0pt;padding:0pt;">Goodwill</td><td style="vertical-align:bottom;white-space:nowrap;width:2.79%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.34%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:88.1%;margin:0pt;padding:0pt;">Balance as of June 30, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:2.79%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.34%;margin:0pt;padding:0pt;"> 246.7</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:88.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.79%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.34%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:88.1%;margin:0pt;padding:0pt;">Balance as of June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.79%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.34%;margin:0pt;padding:0pt;"> 246.7</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:88.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.79%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.34%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:88.1%;margin:0pt;padding:0pt;">Balance as of June 30, 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.79%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.34%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 246.7</td></tr></table>The following table represents the balance of the Company’s intangible assets as of June 30, 2026 and 2025:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:33.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;white-space:nowrap;width:4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.92%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:6.26%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:6.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:6.01%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:top;width:33.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:4%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:32.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:28.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td></tr><tr style=""><td style="vertical-align:bottom;width:33.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">($ in millions)</td><td style="vertical-align:bottom;white-space:nowrap;width:4%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:9.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Gross Carrying Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:12.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Accumulated Amortization and Impairment</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:7.35%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Net Carrying Value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:7.96%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Gross Carrying Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:9.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Accumulated Amortization and Impairment</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:7.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Net Carrying Value</td></tr><tr style=""><td style="vertical-align:top;width:33.52%;background:#cceeff;margin:0pt;padding:0pt;">Trade names</td><td style="vertical-align:top;white-space:nowrap;width:4%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.92%;background:#cceeff;margin:0pt;padding:0pt;"> 70.6</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;background:#cceeff;margin:0pt;padding:0pt;"> (63.8)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.26%;background:#cceeff;margin:0pt;padding:0pt;"> 6.8</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.86%;background:#cceeff;margin:0pt;padding:0pt;"> 70.6</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;background:#cceeff;margin:0pt;padding:0pt;"> (60.4)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.01%;background:#cceeff;margin:0pt;padding:0pt;"> 10.2</td></tr><tr style=""><td style="vertical-align:bottom;width:33.52%;margin:0pt;padding:0pt;">Customer and distributor relationships</td><td style="vertical-align:bottom;width:4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.92%;margin:0pt;padding:0pt;"> 37.1</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;margin:0pt;padding:0pt;"> (35.8)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.26%;margin:0pt;padding:0pt;"> 1.3</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.86%;margin:0pt;padding:0pt;"> 37.1</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;margin:0pt;padding:0pt;"> (33.7)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.01%;margin:0pt;padding:0pt;"> 3.4</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:33.52%;background:#cceeff;margin:0pt;padding:0pt;">Developed technology</td><td style="vertical-align:bottom;white-space:nowrap;width:4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.92%;background:#cceeff;margin:0pt;padding:0pt;"> 21.7</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;background:#cceeff;margin:0pt;padding:0pt;"> (19.1)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.26%;background:#cceeff;margin:0pt;padding:0pt;"> 2.6</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.86%;background:#cceeff;margin:0pt;padding:0pt;"> 21.7</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;background:#cceeff;margin:0pt;padding:0pt;"> (17.3)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.01%;background:#cceeff;margin:0pt;padding:0pt;"> 4.4</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:33.52%;margin:0pt;padding:0pt;">Other</td><td style="vertical-align:bottom;white-space:nowrap;width:4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.92%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1.4</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1.2)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.26%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 0.2</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.86%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1.4</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1.2)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 0.2</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:33.52%;background:#cceeff;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.92%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 130.8</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (119.9)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.09%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.26%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 10.9</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.86%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 130.8</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (112.6)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.01%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 18.2</td></tr></table>

7400000

9900000

12900000

5900000

4100000

300000

200000

100000

32200000

32000000

200000

32200000

246700000

70600000

63800000

6800000

70600000

60400000

10200000

37100000

35800000

1300000

37100000

33700000

3400000

21700000

19100000

2600000

21700000

17300000

4400000

1400000

1200000

200000

1400000

1200000

200000

130800000

119900000

10900000

130800000

112600000

18200000

59500000

32200000

27300000

92100000

103600000

96500000

747600000

266200000

12900000

42300000

Net Income (Loss) Per Common ShareBasic net income (loss) per common share is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding during the reporting period. The weighted average number of shares of common stock outstanding includes vested restricted stock awards. Diluted net income (loss) per share (“EPS”) reflects the potential dilution that could occur assuming vesting of all dilutive unvested restricted stock awards. The dilutive effect of restricted stock awards is determined using the treasury stock method. Under the treasury stock method, the proceeds received from the vesting of restricted stock awards, the amount of compensation cost for future service not yet recognized by the Company and the amount of tax benefits that would be recorded as income tax expense when the stock options become deductible for income tax purposes are all assumed to be used to repurchase shares of the Company’s common stock. Restricted stock awards are not included in the computation of diluted net income (loss) per share when they are anti-dilutive. Common stock outstanding reflected in the Company’s consolidated balance sheets includes restricted stock awards outstanding. The dilutive effect of the Company’s convertible debt is determined using the if-converted method when the Company’s stock is trading above the conversion price. However, based on the structure of the instrument and how it is settled upon conversion, it would produce a similar result as the previously applied treasury stock method. The dilutive effect of the Company’s employee stock purchase plan shares is also determined by the treasury stock method. Under the treasury stock method, the total expected employee payroll contributions and unrecognized compensation cost are assumed to be used to repurchase shares of the Company’s common stock.The following schedule presents the calculation of basic and diluted net income (loss) per share:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:55.39%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:top;width:55.39%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:top;width:42.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Years Ended June 30, </td></tr><tr style=""><td style="vertical-align:top;width:55.39%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:top;width:13.63%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:top;width:12.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:top;width:11.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="12" style="padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:55.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:42.38%;margin:0pt;padding:0pt;">(In thousands except share and per share data)</td></tr><tr style=""><td style="vertical-align:top;width:55.39%;background:#cceeff;margin:0pt;padding:0pt;">Basic net income per share computation:</td><td style="vertical-align:bottom;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:55.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:55.39%;background:#cceeff;margin:0pt;padding:0pt;">Net income attributable to common stockholders</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 338,192</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 287,941</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 204,183</td></tr><tr style=""><td style="vertical-align:bottom;width:55.39%;margin:0pt;padding:0pt;">Weighted average common shares — basic</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 42,717,156</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 43,041,274</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 42,626,588</td></tr><tr style=""><td style="vertical-align:top;width:55.39%;background:#cceeff;margin:0pt;padding:0pt;">Basic net income per share</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;background:#cceeff;margin:0pt;padding:0pt;"> 7.92</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;background:#cceeff;margin:0pt;padding:0pt;"> 6.69</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;background:#cceeff;margin:0pt;padding:0pt;"> 4.79</td></tr><tr style=""><td style="vertical-align:bottom;width:55.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:55.39%;background:#cceeff;margin:0pt;padding:0pt;">Diluted net income per share computation:</td><td style="vertical-align:bottom;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:55.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:middle;width:55.39%;background:#cceeff;margin:0pt;padding:0pt;">Net income attributable to common stockholders</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:12.01%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 338,192</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:10.66%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 287,941</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:10.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 204,183</td></tr><tr style=""><td style="vertical-align:top;width:55.39%;margin:0pt;padding:0pt;">Share computation:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:55.39%;background:#cceeff;margin:0pt;padding:0pt;">Weighted average common shares — basic</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:12.01%;background:#cceeff;margin:0pt;padding:0pt;"> 42,717,156</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.66%;background:#cceeff;margin:0pt;padding:0pt;"> 43,041,274</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.4%;background:#cceeff;margin:0pt;padding:0pt;"> 42,626,588</td></tr><tr style=""><td style="vertical-align:top;width:55.39%;margin:0pt;padding:0pt;">Effect of dilutive restricted stock, convertible debt, and the employee stock purchase plan</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:12.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 4,615,699</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 5,372,443</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 908,853</td></tr><tr style=""><td style="vertical-align:top;width:55.39%;background:#cceeff;margin:0pt;padding:0pt;">Weighted average common shares — diluted</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:12.01%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 47,332,855</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.66%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 48,413,717</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 43,535,441</td></tr><tr style=""><td style="vertical-align:top;width:55.39%;margin:0pt;padding:0pt;">Diluted net income per share</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"> 7.14</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;margin:0pt;padding:0pt;"> 5.95</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"> 4.69</td></tr></table>For the years ended June 30, 2026, 2025 and 2024, shares issuable in connection with restricted stock, convertible debt, and the 2025 Employee Stock Purchase Plan (the “2025 ESPP”) of 2,778,431, 2,400,621 and 7,658 respectively, were excluded from the diluted income per common share calculation because the effect would have been anti-dilutive. In connection with the issuance of the 1.125% Convertible Senior Notes due 2027 (“Notes”), the Company entered into capped call transactions (the “Capped Call Transactions”) as described further in Note 7, “Debt.” The Capped Call Transactions are intended to reduce the potential dilution to the Company’s common stock upon conversion of the Notes and/or to offset any cash payments the Company may be required to make in excess of the principal amount of the Notes.

<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:55.39%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:top;width:55.39%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:top;width:42.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Years Ended June 30, </td></tr><tr style=""><td style="vertical-align:top;width:55.39%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:top;width:13.63%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:top;width:12.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:top;width:11.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="12" style="padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:55.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:42.38%;margin:0pt;padding:0pt;">(In thousands except share and per share data)</td></tr><tr style=""><td style="vertical-align:top;width:55.39%;background:#cceeff;margin:0pt;padding:0pt;">Basic net income per share computation:</td><td style="vertical-align:bottom;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:55.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:55.39%;background:#cceeff;margin:0pt;padding:0pt;">Net income attributable to common stockholders</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 338,192</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 287,941</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 204,183</td></tr><tr style=""><td style="vertical-align:bottom;width:55.39%;margin:0pt;padding:0pt;">Weighted average common shares — basic</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 42,717,156</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 43,041,274</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 42,626,588</td></tr><tr style=""><td style="vertical-align:top;width:55.39%;background:#cceeff;margin:0pt;padding:0pt;">Basic net income per share</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;background:#cceeff;margin:0pt;padding:0pt;"> 7.92</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;background:#cceeff;margin:0pt;padding:0pt;"> 6.69</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;background:#cceeff;margin:0pt;padding:0pt;"> 4.79</td></tr><tr style=""><td style="vertical-align:bottom;width:55.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:55.39%;background:#cceeff;margin:0pt;padding:0pt;">Diluted net income per share computation:</td><td style="vertical-align:bottom;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:55.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:middle;width:55.39%;background:#cceeff;margin:0pt;padding:0pt;">Net income attributable to common stockholders</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:12.01%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 338,192</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:10.66%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 287,941</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:10.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 204,183</td></tr><tr style=""><td style="vertical-align:top;width:55.39%;margin:0pt;padding:0pt;">Share computation:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:55.39%;background:#cceeff;margin:0pt;padding:0pt;">Weighted average common shares — basic</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:12.01%;background:#cceeff;margin:0pt;padding:0pt;"> 42,717,156</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.66%;background:#cceeff;margin:0pt;padding:0pt;"> 43,041,274</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.4%;background:#cceeff;margin:0pt;padding:0pt;"> 42,626,588</td></tr><tr style=""><td style="vertical-align:top;width:55.39%;margin:0pt;padding:0pt;">Effect of dilutive restricted stock, convertible debt, and the employee stock purchase plan</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:12.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 4,615,699</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 5,372,443</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 908,853</td></tr><tr style=""><td style="vertical-align:top;width:55.39%;background:#cceeff;margin:0pt;padding:0pt;">Weighted average common shares — diluted</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:12.01%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 47,332,855</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.66%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 48,413,717</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:10.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 43,535,441</td></tr><tr style=""><td style="vertical-align:top;width:55.39%;margin:0pt;padding:0pt;">Diluted net income per share</td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"> 7.14</td><td style="vertical-align:bottom;white-space:nowrap;width:2.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.66%;margin:0pt;padding:0pt;"> 5.95</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.47%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"> 4.69</td></tr></table>

338192000

287941000

204183000

42717156

43041274

42626588

7.92

6.69

4.79

338192000

287941000

204183000

42717156

43041274

42626588

4615699

5372443

908853

47332855

48413717

43535441

7.14

5.95

4.69

2778431

2400621

7658

0.01125

ReclassificationCertain previous year amounts have been reclassified to conform with current year presentation, as related to the balance sheets.

4. Property and Equipment and Capitalized Software and CurriculumProperty and equipment consists of the following at:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:auto;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:normal;width:62.18%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:normal;width:3.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:normal;width:12.73%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:normal;width:3.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:normal;width:13.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:62.18%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:3.65%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:normal;width:34.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, </td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:62.18%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:3.65%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:15.05%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:normal;width:3.65%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:15.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="7" style="padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:62.18%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:3.65%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:normal;width:34.15%;margin:0pt;padding:0pt;">(In thousands)</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:62.18%;background:#cceeff;margin:0pt;padding:0pt;">Financed computers and printers</td><td style="vertical-align:bottom;white-space:normal;width:3.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:12.73%;background:#cceeff;margin:0pt;padding:0pt;"> 225,777</td><td style="vertical-align:bottom;white-space:normal;width:3.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:13.12%;background:#cceeff;margin:0pt;padding:0pt;"> 173,009</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:62.18%;margin:0pt;padding:0pt;">Computer software</td><td style="vertical-align:bottom;white-space:normal;width:3.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:12.73%;margin:0pt;padding:0pt;"> 3,927</td><td style="vertical-align:bottom;white-space:normal;width:3.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:13.12%;margin:0pt;padding:0pt;"> 5,568</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:62.18%;background:#cceeff;margin:0pt;padding:0pt;">Computer hardware</td><td style="vertical-align:bottom;white-space:normal;width:3.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:12.73%;background:#cceeff;margin:0pt;padding:0pt;"> 3,722</td><td style="vertical-align:bottom;white-space:normal;width:3.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:13.12%;background:#cceeff;margin:0pt;padding:0pt;"> 4,604</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:62.18%;margin:0pt;padding:0pt;">Leasehold improvements</td><td style="vertical-align:bottom;white-space:normal;width:3.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:12.73%;margin:0pt;padding:0pt;"> 8,587</td><td style="vertical-align:bottom;white-space:normal;width:3.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:13.12%;margin:0pt;padding:0pt;"> 10,327</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:62.18%;background:#cceeff;margin:0pt;padding:0pt;">State testing computers</td><td style="vertical-align:bottom;white-space:normal;width:3.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:12.73%;background:#cceeff;margin:0pt;padding:0pt;"> 7,149</td><td style="vertical-align:bottom;white-space:normal;width:3.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:13.12%;background:#cceeff;margin:0pt;padding:0pt;"> 7,151</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:62.18%;margin:0pt;padding:0pt;">Furniture and fixtures</td><td style="vertical-align:bottom;white-space:normal;width:3.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:12.73%;margin:0pt;padding:0pt;"> 2,252</td><td style="vertical-align:bottom;white-space:normal;width:3.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:13.12%;margin:0pt;padding:0pt;"> 3,107</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:62.18%;background:#cceeff;margin:0pt;padding:0pt;">Office equipment</td><td style="vertical-align:bottom;white-space:normal;width:3.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:12.73%;background:#cceeff;margin:0pt;padding:0pt;"> 79</td><td style="vertical-align:bottom;white-space:normal;width:3.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:13.12%;background:#cceeff;margin:0pt;padding:0pt;"> 129</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:62.18%;margin:0pt;padding:0pt;">Web site development</td><td style="vertical-align:bottom;white-space:normal;width:3.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:12.73%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,626</td><td style="vertical-align:bottom;white-space:normal;width:3.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:13.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 436</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:62.18%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:3.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:12.73%;background:#cceeff;margin:0pt;padding:0pt;"> 254,119</td><td style="vertical-align:bottom;white-space:normal;width:3.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:13.12%;background:#cceeff;margin:0pt;padding:0pt;"> 204,331</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:62.18%;margin:0pt;padding:0pt;">Less accumulated depreciation and amortization</td><td style="vertical-align:bottom;white-space:normal;width:3.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:12.73%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (152,077)</td><td style="vertical-align:bottom;white-space:normal;width:3.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:13.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (125,749)</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:62.18%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:3.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:12.73%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 102,042</td><td style="vertical-align:bottom;white-space:normal;width:3.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.31%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:13.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 78,582</td></tr></table>The Company recorded depreciation expense related to property and equipment reflected in selling, general, and administrative expenses of $3.0 million, $2.8 million and $3.8 million during the years ended June 30, 2026, 2025 and 2024, respectively. Depreciation expense of $54.6 million, $39.3 million and $32.9 million related to property and equipment is reflected in instructional costs and services during the years ended June 30, 2026, 2025 and 2024, respectively.The Company incurs maintenance and repair expenses, which are expensed as incurred, and are generally recorded in selling, general, and administrative expenses. Capitalized software costs consist of the following at:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:auto;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:normal;width:70.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:10.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:10.67%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:70.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.58%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:normal;width:26.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, </td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:70.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.58%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:12.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:normal;width:2.57%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:11.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="7" style="padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:70.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.58%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:normal;width:26.54%;margin:0pt;padding:0pt;">(In thousands)</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:70.86%;background:#cceeff;margin:0pt;padding:0pt;">Capitalized software</td><td style="vertical-align:bottom;white-space:normal;width:2.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:10.74%;background:#cceeff;margin:0pt;padding:0pt;"> 276,089</td><td style="vertical-align:bottom;white-space:normal;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:10.67%;background:#cceeff;margin:0pt;padding:0pt;"> 323,782</td></tr><tr style="height:20.8pt;"><td style="vertical-align:bottom;white-space:normal;width:70.86%;margin:0pt;padding:0pt;">Less accumulated depreciation and amortization</td><td style="vertical-align:bottom;white-space:normal;width:2.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:10.74%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (181,087)</td><td style="vertical-align:bottom;white-space:normal;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:10.67%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (248,468)</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:70.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.27%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:10.74%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 95,002</td><td style="vertical-align:bottom;white-space:normal;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.27%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:10.67%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 75,314</td></tr></table>The Company recorded amortization expense of $29.8 million, $35.6 million and $34.4 million related to capitalized software reflected in instructional costs and services and $13.0 million, $9.5 million and $7.9 million reflected in selling, general, and administrative expenses during the years ended June 30, 2026, 2025 and 2024, respectively.Capitalized curriculum development costs consist of the following at:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:70.79%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:70.79%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:26.63%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, </td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:70.79%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.02%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.02%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="7" style="padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:70.79%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:26.63%;margin:0pt;padding:0pt;">(In thousands)</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:70.79%;background:#cceeff;margin:0pt;padding:0pt;">Capitalized curriculum development costs</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.74%;background:#cceeff;margin:0pt;padding:0pt;"> 204,674</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.74%;background:#cceeff;margin:0pt;padding:0pt;"> 187,641</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:70.79%;margin:0pt;padding:0pt;">Less accumulated depreciation and amortization</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.74%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (147,779)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.74%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (129,057)</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:70.79%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.74%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 56,895</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.74%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 58,584</td></tr></table>The Company recorded amortization expense of $18.9 million, $17.5 million and $17.7 million related to capitalized curriculum development costs reflected in instructional costs and services during the years ended June 30, 2026, 2025 and 2024, respectively.

225777000

173009000

3927000

5568000

3722000

4604000

8587000

10327000

7149000

7151000

2252000

3107000

79000

129000

2626000

436000

254119000

204331000

152077000

125749000

102042000

78582000

3000000

2800000

3800000

54600000

39300000

32900000

276089000

323782000

181087000

248468000

95002000

75314000

29800000

35600000

34400000

13000000

9500000

7900000

5. Income TaxesThe provision for income taxes is based on earnings reported in the consolidated financial statements. A deferred income tax asset or liability is determined by applying currently enacted tax laws and rates to the expected reversal of the cumulative temporary differences between the carrying value of assets and liabilities for financial statement and income tax purposes. Deferred income tax expense or benefit is measured by the change in the deferred income tax asset or liability during the year.Deferred tax assets and liabilities result primarily from temporary differences in book versus tax basis accounting. Deferred tax assets and liabilities consist of the following:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:24.05%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, </td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.74%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.74%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="7" style="padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:24.05%;margin:0pt;padding:0pt;">(In thousands)</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;background:#cceeff;margin:0pt;padding:0pt;">Deferred tax assets</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;margin:0pt;padding:0pt;">Net operating loss carryforward</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;margin:0pt;padding:0pt;"> 13,524</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;margin:0pt;padding:0pt;"> 13,888</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;background:#cceeff;margin:0pt;padding:0pt;">Reserves</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;margin:0pt;padding:0pt;"> 10,545</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;margin:0pt;padding:0pt;"> 9,154</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;margin:0pt;padding:0pt;">Accrued expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;margin:0pt;padding:0pt;"> 11,916</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;margin:0pt;padding:0pt;"> 15,441</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;background:#cceeff;margin:0pt;padding:0pt;">Stock compensation expense</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;margin:0pt;padding:0pt;"> 7,320</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;margin:0pt;padding:0pt;"> 6,881</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;margin:0pt;padding:0pt;">Other assets</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;margin:0pt;padding:0pt;"> 2,170</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;margin:0pt;padding:0pt;"> 3,308</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;background:#cceeff;margin:0pt;padding:0pt;">Convertible debt</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;margin:0pt;padding:0pt;"> 9,085</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;margin:0pt;padding:0pt;"> 4,059</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;margin:0pt;padding:0pt;">Deferred revenue</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;margin:0pt;padding:0pt;"> 122</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;margin:0pt;padding:0pt;"> 260</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;background:#cceeff;margin:0pt;padding:0pt;">Capitalized software and website development costs</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;margin:0pt;padding:0pt;"> 4,680</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;margin:0pt;padding:0pt;">Lease liability</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,659</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 11,136</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;background:#cceeff;margin:0pt;padding:0pt;">Total deferred tax assets</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 57,341</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 68,807</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;margin:0pt;padding:0pt;">Deferred tax liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;background:#cceeff;margin:0pt;padding:0pt;">Capitalized curriculum development </td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;margin:0pt;padding:0pt;"> (9,758)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;margin:0pt;padding:0pt;"> (10,071)</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;margin:0pt;padding:0pt;">Capitalized software and website development costs </td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;margin:0pt;padding:0pt;"> (24,023)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;background:#cceeff;margin:0pt;padding:0pt;">Property and equipment</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;margin:0pt;padding:0pt;"> (18,259)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;margin:0pt;padding:0pt;"> (11,460)</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;margin:0pt;padding:0pt;">Right-of-use assets</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;margin:0pt;padding:0pt;"> (1,755)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;margin:0pt;padding:0pt;"> (3,832)</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;background:#cceeff;margin:0pt;padding:0pt;">Returned materials</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;margin:0pt;padding:0pt;"> (2,220)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;margin:0pt;padding:0pt;"> (2,722)</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;margin:0pt;padding:0pt;">Purchased intangibles</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (6,943)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (6,717)</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;background:#cceeff;margin:0pt;padding:0pt;">Total deferred tax liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (62,958)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (34,802)</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;margin:0pt;padding:0pt;">Net deferred tax (liability) asset before valuation allowance</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;margin:0pt;padding:0pt;"> (5,617)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;margin:0pt;padding:0pt;"> 34,005</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;background:#cceeff;margin:0pt;padding:0pt;">Valuation allowance</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (7,416)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (7,628)</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;margin:0pt;padding:0pt;">Net deferred tax (liability) asset </td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (13,033)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 26,377</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;background:#cceeff;margin:0pt;padding:0pt;">Reported as:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:73.36%;margin:0pt;padding:0pt;">Long-term deferred tax (liability) asset </td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (13,033)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.45%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 26,377</td></tr></table>The Company maintained a valuation allowance on net noncurrent deferred tax assets of $7.4 million and $7.6 million as of June 30, 2026 and 2025, respectively, predominantly related to foreign and state income tax net operating losses ("NOL"). At June 30, 2026, the Company had approximately $24.5 million of available federal NOL carryforwards solely related to the acquisition of Galvanize in January 2020. The available federal NOL carryforwards were generated after 2017 and have an indefinite carryforward period due to the Tax Cuts and Jobs Act (the “Tax Act”). Section 382 of the Internal Revenue Code limits the utilization of NOL carryforwards following a change of control. The Company has performed an analysis of the Section 382 ownership changes and have determined that it will be able to fully utilize its available NOLs subject to the Section 382 limitation.At June 30, 2026, the Company had tax effected state NOL carryforwards of $1.0 million, net of valuation allowances, and will expire on various dates.The components of the income before income taxes for the years ended June 30, 2026, 2025 and 2024 were as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:40.73%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.05%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.05%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:40.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.85%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:48.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Years Ended June 30, </td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:40.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.85%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:3.05%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:3.05%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="10" style="padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:40.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.85%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:48.4%;margin:0pt;padding:0pt;">(In thousands)</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:40.73%;background:#cceeff;margin:0pt;padding:0pt;">Domestic</td><td style="vertical-align:bottom;white-space:nowrap;width:10.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.85%;background:#cceeff;margin:0pt;padding:0pt;"> 435,108</td><td style="vertical-align:bottom;white-space:nowrap;width:3.05%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.85%;background:#cceeff;margin:0pt;padding:0pt;"> 374,932</td><td style="vertical-align:bottom;white-space:nowrap;width:3.05%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;background:#cceeff;margin:0pt;padding:0pt;"> 262,802</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:40.73%;margin:0pt;padding:0pt;">Foreign</td><td style="vertical-align:bottom;white-space:nowrap;width:10.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.85%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 5,850</td><td style="vertical-align:bottom;white-space:nowrap;width:3.05%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.85%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 6,016</td><td style="vertical-align:bottom;white-space:nowrap;width:3.05%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 5,863</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:40.73%;background:#cceeff;margin:0pt;padding:0pt;">Total income before income taxes</td><td style="vertical-align:bottom;white-space:nowrap;width:10.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.85%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 440,958</td><td style="vertical-align:bottom;white-space:nowrap;width:3.05%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.85%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 380,948</td><td style="vertical-align:bottom;white-space:nowrap;width:3.05%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 268,665</td></tr></table>The components of the income tax expense (benefit) for the years ended June 30, 2026, 2025 and 2024 were as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:auto;width:85.86%;"><tr style="height:1.05pt;"><td style="vertical-align:bottom;white-space:normal;width:62.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:8.79%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:8.79%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:8.54%;margin:0pt;padding:0pt;"></td></tr><tr style="height:9.65pt;"><td style="vertical-align:bottom;white-space:normal;width:62.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.51%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:normal;width:35%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Years Ended June 30, </td></tr><tr style="height:11.95pt;"><td style="vertical-align:bottom;white-space:normal;width:62.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.51%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:10.05%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:normal;width:2.49%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:10.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:normal;width:2.54%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:9.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="10" style="padding:0pt;"></td></tr><tr style="height:9.65pt;"><td style="vertical-align:bottom;white-space:normal;width:62.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.51%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:normal;width:35%;margin:0pt;padding:0pt;">(In thousands)</td></tr><tr style="height:12.45pt;"><td style="vertical-align:bottom;white-space:normal;width:62.47%;background:#cceeff;margin:0pt;padding:0pt;">Current:</td><td style="vertical-align:bottom;white-space:normal;width:2.51%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.25%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:8.79%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:8.79%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:8.54%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style="height:11.95pt;"><td style="vertical-align:bottom;white-space:normal;width:62.47%;margin:0pt;padding:0pt;">Federal</td><td style="vertical-align:bottom;white-space:normal;width:2.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.25%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:8.79%;margin:0pt;padding:0pt;"> 47,321</td><td style="vertical-align:bottom;white-space:normal;width:2.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:8.79%;margin:0pt;padding:0pt;"> 91,696</td><td style="vertical-align:bottom;white-space:normal;width:2.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:8.54%;margin:0pt;padding:0pt;"> 52,678</td></tr><tr style="height:12.45pt;"><td style="vertical-align:bottom;white-space:normal;width:62.47%;background:#cceeff;margin:0pt;padding:0pt;">State</td><td style="vertical-align:bottom;white-space:normal;width:2.51%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.25%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.79%;background:#cceeff;margin:0pt;padding:0pt;"> 14,213</td><td style="vertical-align:bottom;white-space:normal;width:2.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.79%;background:#cceeff;margin:0pt;padding:0pt;"> 17,921</td><td style="vertical-align:bottom;white-space:normal;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.54%;background:#cceeff;margin:0pt;padding:0pt;"> 7,660</td></tr><tr style="height:11.95pt;"><td style="vertical-align:bottom;white-space:normal;width:62.47%;margin:0pt;padding:0pt;">Foreign</td><td style="vertical-align:bottom;white-space:normal;width:2.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.25%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.79%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,238</td><td style="vertical-align:bottom;white-space:normal;width:2.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.79%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,173</td><td style="vertical-align:bottom;white-space:normal;width:2.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,254</td></tr><tr style="height:11.95pt;"><td style="vertical-align:bottom;white-space:normal;width:62.47%;background:#cceeff;margin:0pt;padding:0pt;">Total current</td><td style="vertical-align:bottom;white-space:normal;width:2.51%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.25%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.79%;background:#cceeff;margin:0pt;padding:0pt;"> 62,772</td><td style="vertical-align:bottom;white-space:normal;width:2.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.79%;background:#cceeff;margin:0pt;padding:0pt;"> 110,790</td><td style="vertical-align:bottom;white-space:normal;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.54%;background:#cceeff;margin:0pt;padding:0pt;"> 61,592</td></tr><tr style="height:12.45pt;"><td style="vertical-align:bottom;white-space:normal;width:62.47%;margin:0pt;padding:0pt;">Deferred:</td><td style="vertical-align:bottom;white-space:normal;width:2.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:8.79%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:8.79%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:8.54%;margin:0pt;padding:0pt;"></td></tr><tr style="height:11.95pt;"><td style="vertical-align:bottom;white-space:normal;width:62.47%;background:#cceeff;margin:0pt;padding:0pt;">Federal</td><td style="vertical-align:bottom;white-space:normal;width:2.51%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.25%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.79%;background:#cceeff;margin:0pt;padding:0pt;"> 38,372</td><td style="vertical-align:bottom;white-space:normal;width:2.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.79%;background:#cceeff;margin:0pt;padding:0pt;"> (16,047)</td><td style="vertical-align:bottom;white-space:normal;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.54%;background:#cceeff;margin:0pt;padding:0pt;"> (667)</td></tr><tr style="height:12.45pt;"><td style="vertical-align:bottom;white-space:normal;width:62.47%;margin:0pt;padding:0pt;">State</td><td style="vertical-align:bottom;white-space:normal;width:2.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.25%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.79%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,621</td><td style="vertical-align:bottom;white-space:normal;width:2.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.79%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1,736)</td><td style="vertical-align:bottom;white-space:normal;width:2.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 3,557</td></tr><tr style="height:13.1pt;"><td style="vertical-align:bottom;white-space:normal;width:62.47%;background:#cceeff;margin:0pt;padding:0pt;">Total deferred</td><td style="vertical-align:bottom;white-space:normal;width:2.51%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.25%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.79%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 39,993</td><td style="vertical-align:bottom;white-space:normal;width:2.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.79%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (17,783)</td><td style="vertical-align:bottom;white-space:normal;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.54%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,890</td></tr><tr style="height:11.95pt;"><td style="vertical-align:bottom;white-space:normal;width:62.47%;margin:0pt;padding:0pt;">Total income tax expense</td><td style="vertical-align:bottom;white-space:normal;width:2.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.25%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:8.79%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 102,765</td><td style="vertical-align:bottom;white-space:normal;width:2.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:8.79%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 93,007</td><td style="vertical-align:bottom;white-space:normal;width:2.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:8.54%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 64,482</td></tr></table>Following the adoption of ASU 2023-09, the provision for income taxes can be reconciled to the income tax that would result from applying the statutory rate to the net income before income taxes as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:60.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:60.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td colspan="4" style="vertical-align:middle;white-space:nowrap;width:34.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ended June 30, 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:3.14%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:60.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:19.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:13.09%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Percent </td><td style="vertical-align:bottom;white-space:nowrap;width:3.14%;margin:0pt;padding:0pt;"></td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="7" style="padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:60.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:middle;white-space:nowrap;width:37.51%;margin:0pt;padding:0pt;">(In thousands)</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:60.74%;background:#cceeff;margin:0pt;padding:0pt;">U.S. Federal Statutory Tax Rate</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.27%;background:#cceeff;margin:0pt;padding:0pt;"> 92,601</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.09%;background:#cceeff;margin:0pt;padding:0pt;"> 21.0</td><td style="vertical-align:bottom;white-space:nowrap;width:3.14%;background:#cceeff;margin:0pt;padding:0pt;">%</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:60.74%;margin:0pt;padding:0pt;">State and Local Income Tax Effects, net of federal tax benefit (a)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.27%;margin:0pt;padding:0pt;"> 14,705</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.09%;margin:0pt;padding:0pt;"> 3.3</td><td style="vertical-align:bottom;white-space:nowrap;width:3.14%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:60.74%;background:#cceeff;margin:0pt;padding:0pt;">Foreign Tax Effects</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.27%;background:#cceeff;margin:0pt;padding:0pt;"> (18)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.09%;background:#cceeff;margin:0pt;padding:0pt;"> -</td><td style="vertical-align:bottom;white-space:nowrap;width:3.14%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:60.74%;margin:0pt;padding:0pt;">Tax Credits</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.14%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:60.74%;background:#cceeff;margin:0pt;padding:0pt;"> Research and development tax credits</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.27%;background:#cceeff;margin:0pt;padding:0pt;"> (2,866)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.09%;background:#cceeff;margin:0pt;padding:0pt;"> (0.7)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.14%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:60.74%;margin:0pt;padding:0pt;">Changes in Valuation Allowance</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.27%;margin:0pt;padding:0pt;"> 31</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.09%;margin:0pt;padding:0pt;"> -</td><td style="vertical-align:bottom;white-space:nowrap;width:3.14%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:60.74%;background:#cceeff;margin:0pt;padding:0pt;">Nontaxable or Nondeductible Items</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.14%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:60.74%;margin:0pt;padding:0pt;"> Stock-based compensation</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.27%;margin:0pt;padding:0pt;"> (20,007)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.09%;margin:0pt;padding:0pt;"> (4.5)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.14%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:60.74%;background:#cceeff;margin:0pt;padding:0pt;"> Non-deductible compensation</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.27%;background:#cceeff;margin:0pt;padding:0pt;"> 17,329</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.09%;background:#cceeff;margin:0pt;padding:0pt;"> 3.9</td><td style="vertical-align:bottom;white-space:nowrap;width:3.14%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:60.74%;margin:0pt;padding:0pt;"> Other</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.27%;margin:0pt;padding:0pt;"> 85</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.09%;margin:0pt;padding:0pt;"> -</td><td style="vertical-align:bottom;white-space:nowrap;width:3.14%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:60.74%;background:#cceeff;margin:0pt;padding:0pt;">Changes in Unrecognized Tax Benefits</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.27%;background:#cceeff;margin:0pt;padding:0pt;"> 583</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.09%;background:#cceeff;margin:0pt;padding:0pt;"> 0.2</td><td style="vertical-align:bottom;white-space:nowrap;width:3.14%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:60.74%;margin:0pt;padding:0pt;">Other Adjustments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 322</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.09%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 0.1</td><td style="vertical-align:bottom;white-space:nowrap;width:3.14%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:60.74%;background:#cceeff;margin:0pt;padding:0pt;">Effective Tax Rate</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.27%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 102,765</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.09%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 23.3</td><td style="vertical-align:bottom;white-space:nowrap;width:3.14%;background:#cceeff;margin:0pt;padding:0pt;">%</td></tr></table>(a) State taxes in California, Texas, and Virginia made up the majority (greater than 50 percent) of the tax effect in this category.Prior to the adoption of ASU 2023-09, the provision for income taxes can be reconciled to the income tax that would result from applying the statutory rate to the net income before income taxes as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:62.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.36%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:62.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:28.86%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Years Ended June 30, </td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:62.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.36%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;width:62.88%;background:#cceeff;margin:0pt;padding:0pt;">U.S. federal tax at statutory rates</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.36%;background:#cceeff;margin:0pt;padding:0pt;"> 21.0</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;background:#cceeff;margin:0pt;padding:0pt;">% </td><td style="vertical-align:bottom;white-space:nowrap;width:12.38%;background:#cceeff;margin:0pt;padding:0pt;"> 21.0</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;background:#cceeff;margin:0pt;padding:0pt;">% </td></tr><tr style=""><td style="vertical-align:bottom;width:62.88%;margin:0pt;padding:0pt;">Lobbying</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.36%;margin:0pt;padding:0pt;"> -</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.38%;margin:0pt;padding:0pt;"> 0.1</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:62.88%;background:#cceeff;margin:0pt;padding:0pt;">Non-deductible compensation</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.36%;background:#cceeff;margin:0pt;padding:0pt;"> 2.7</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.38%;background:#cceeff;margin:0pt;padding:0pt;"> 0.8</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:62.88%;margin:0pt;padding:0pt;">State taxes, net of federal benefit</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.36%;margin:0pt;padding:0pt;"> 3.4</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.38%;margin:0pt;padding:0pt;"> 3.2</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:62.88%;background:#cceeff;margin:0pt;padding:0pt;">Research and development tax credits</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.36%;background:#cceeff;margin:0pt;padding:0pt;"> (1.2)</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.38%;background:#cceeff;margin:0pt;padding:0pt;"> (1.5)</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:62.88%;margin:0pt;padding:0pt;">Effects of foreign operations</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.36%;margin:0pt;padding:0pt;"> -</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.38%;margin:0pt;padding:0pt;"> 0.1</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:62.88%;background:#cceeff;margin:0pt;padding:0pt;">Reserve for unrecognized tax benefits</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.36%;background:#cceeff;margin:0pt;padding:0pt;"> 0.4</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.38%;background:#cceeff;margin:0pt;padding:0pt;"> 0.5</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:62.88%;margin:0pt;padding:0pt;">Noncontrolling interests</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.36%;margin:0pt;padding:0pt;"> -</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.38%;margin:0pt;padding:0pt;"> -</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:62.88%;background:#cceeff;margin:0pt;padding:0pt;">Other</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.36%;background:#cceeff;margin:0pt;padding:0pt;"> (0.2)</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.38%;background:#cceeff;margin:0pt;padding:0pt;"> 0.1</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:62.88%;margin:0pt;padding:0pt;">Stock-based compensation</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.36%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1.7)</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (0.3)</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:62.88%;background:#cceeff;margin:0pt;padding:0pt;">Provision for income taxes</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.36%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 24.4</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;background:#cceeff;margin:0pt;padding:0pt;">% </td><td style="vertical-align:bottom;white-space:nowrap;width:12.38%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 24.0</td><td style="vertical-align:bottom;white-space:nowrap;width:4.12%;background:#cceeff;margin:0pt;padding:0pt;">% </td></tr></table>The decrease in the effective income tax rate for the year ended June 30, 2026, as compared to the effective tax rate for the year ended June 30, 2025, was primarily due to stock-based compensation. As of June 30, 2026 and 2025, the balance of income taxes payable was $27.5 million and $52.6 million, respectively. Income taxes payable is recorded within accrued liabilities on the consolidated balance sheets.Tax UncertaintiesThe Company follows the provisions of ASC 740, Income Taxes (“ASC 740”) which applies to all tax positions related to income taxes. ASC 740 provides a comprehensive model for how a company should recognize, measure, present and disclose in its financial statements uncertain tax positions that the Company has taken or expects to take on a tax return. ASC 740 clarifies accounting for income taxes by prescribing a minimum probability threshold that a tax position must meet before a financial statement benefit is recognized. If the probability for sustaining a tax position is greater than 50%, then the tax position is warranted and recognition should be at the highest amount which would be expected to be realized upon ultimate settlement related to unrecognized tax benefits.The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense. As of June 30, 2026, 2025 and 2024, the Company had $0.7 million, $0.5 million and $0.4 million in accrued interest and penalties, respectively.The unrecognized tax benefits for the years ended June 30, 2026, 2025 and 2024 were as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:auto;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:normal;width:63.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:8.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:8.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:8.17%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:63.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.58%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:normal;width:33.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Years Ended June 30, </td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:63.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.58%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:9.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:normal;width:2.57%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:9.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:normal;width:2.57%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:9.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="10" style="padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:63.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:2.58%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:normal;width:33.52%;margin:0pt;padding:0pt;">(In thousands)</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:63.88%;background:#cceeff;margin:0pt;padding:0pt;">Balance at beginning of the year</td><td style="vertical-align:bottom;white-space:normal;width:2.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:8.17%;background:#cceeff;margin:0pt;padding:0pt;"> 5,514</td><td style="vertical-align:bottom;white-space:normal;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:8.17%;background:#cceeff;margin:0pt;padding:0pt;"> 4,286</td><td style="vertical-align:bottom;white-space:normal;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:8.17%;background:#cceeff;margin:0pt;padding:0pt;"> 3,156</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:63.88%;margin:0pt;padding:0pt;">Additions for prior year tax positions</td><td style="vertical-align:bottom;white-space:normal;width:2.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.17%;margin:0pt;padding:0pt;"> 277</td><td style="vertical-align:bottom;white-space:normal;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.27%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.17%;margin:0pt;padding:0pt;"> 486</td><td style="vertical-align:bottom;white-space:normal;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.27%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.17%;margin:0pt;padding:0pt;"> 591</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:63.88%;background:#cceeff;margin:0pt;padding:0pt;">Additions for current year tax positions</td><td style="vertical-align:bottom;white-space:normal;width:2.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.17%;background:#cceeff;margin:0pt;padding:0pt;"> 1,236</td><td style="vertical-align:bottom;white-space:normal;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.17%;background:#cceeff;margin:0pt;padding:0pt;"> 1,635</td><td style="vertical-align:bottom;white-space:normal;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:8.17%;background:#cceeff;margin:0pt;padding:0pt;"> 1,205</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:63.88%;margin:0pt;padding:0pt;">Reductions for prior year tax positions</td><td style="vertical-align:bottom;white-space:normal;width:2.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:8.17%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1,047)</td><td style="vertical-align:bottom;white-space:normal;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:8.17%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (893)</td><td style="vertical-align:bottom;white-space:normal;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:8.17%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (666)</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:63.88%;background:#cceeff;margin:0pt;padding:0pt;">Balance at end of the year</td><td style="vertical-align:bottom;white-space:normal;width:2.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.28%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:8.17%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 5,980</td><td style="vertical-align:bottom;white-space:normal;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.27%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:8.17%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 5,514</td><td style="vertical-align:bottom;white-space:normal;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.27%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:8.17%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,286</td></tr></table>If recognized, all of the $6.0 million balance of unrecognized tax benefits as of June 30, 2026 would affect the effective tax rate. The Company does not anticipate a significant increase or decrease in unrecognized tax benefits in the next twelve months.The Company remains subject to audit by the Internal Revenue Service for federal tax purposes for tax years after June 30, 2022. Certain state and foreign tax jurisdictions are also either currently under audit or remain open under the statute of limitations for the tax years after June 30, 2021.Income Taxes PaidDisclosed below is a summary of income taxes paid by jurisdiction pursuant to the disclosure requirements of ASU 2023-09 for the year ended June 30, 2026:<div style="padding-left:49.5pt;"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:80.68%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:29.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:5.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:65.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.2%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:70.79%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ended June 30, 2026</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.2%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:70.79%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.2%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:70.79%;margin:0pt;padding:0pt;">(In thousands)</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.2%;background:#cceeff;margin:0pt;padding:0pt;">Federal</td><td style="vertical-align:bottom;white-space:nowrap;width:5.51%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:65.27%;background:#cceeff;margin:0pt;padding:0pt;"> 67,201</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.2%;margin:0pt;padding:0pt;">State and Local</td><td style="vertical-align:bottom;white-space:nowrap;width:5.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:65.27%;margin:0pt;padding:0pt;"> 19,963</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.2%;background:#cceeff;margin:0pt;padding:0pt;">Foreign</td><td style="vertical-align:bottom;white-space:nowrap;width:5.51%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:65.27%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 859</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:29.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:5.51%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:65.27%;margin:0pt;padding:0pt;"> 88,023</td></tr></table></div>Income taxes paid (net of refunds) exceed 5 percent of total income taxes paid (net of refunds) in the following jurisdictions:<div style="padding-left:49.5pt;"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:80.68%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:54.05%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:43.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:54.05%;margin:0pt;padding:0pt;">State</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:43.65%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:54.05%;background:#cceeff;margin:0pt;padding:0pt;"> California</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:43.65%;background:#cceeff;margin:0pt;padding:0pt;"> 6,475</td></tr></table></div>

13524000

13888000

10545000

9154000

11916000

15441000

7320000

6881000

2170000

3308000

9085000 4059000

122000

260000

4680000 2659000 11136000

57341000

68807000

9758000

10071000

24023000

18259000

11460000

1755000 3832000 2220000 2722000

6943000

6717000

62958000

34802000

-5617000 34005000

7416000

7628000

13033000

26377000

13033000

26377000

7400000

7600000

24500000

1000000

435108000

374932000

262802000

5850000

6016000

5863000

440958000

380948000

268665000

47321000

91696000

52678000

14213000

17921000

7660000

1238000

1173000

1254000

62772000

110790000

61592000

38372000

-16047000

-667000

1621000

-1736000

3557000

39993000

-17783000

2890000

102765000

93007000

64482000

92601000

0.21

14705000

0.033

-18000

2866000

0.007

31000

-20007000

-0.045

17329000

0.039

85000

583000

0.002

322000

0.001

102765000

0.233

0.21

0.001

0.027

0.008

0.034

0.032

0.012

0.015

0.001

0.004 0.005

-0.002

0.001

-0.017

-0.003

0.244

0.24

27500000

52600000

700000

500000

400000

5514000

4286000

3156000

277000

486000

591000

1236000

1635000

1205000

1047000

893000

666000

5980000

5514000

4286000

6000000

67201000

19963000

859000

88023000

6475000

6. Finance and Operating LeasesFinance LeasesThe Company is a lessee under finance leases for computers and peripherals under agreements with Banc of America Leasing & Capital, LLC (“BALC”) and CSI Leasing, Inc. (“CSI Leasing”). As of June 30, 2026 and 2025, the finance lease liability was $116.9 million and $86.9 million, respectively, with lease interest rates ranging from 4.12% to 6.72%. As of June 30, 2026 and 2025, the balance of the associated right-of-use assets was $95.3 million and $69.5 million, respectively. The right-of-use asset is recorded within property and equipment, net on the consolidated balance sheets. Lease amortization expense associated with the Company’s finance leases is recorded within both instructional costs and services and selling, general, and administrative expenses on the consolidated statements of operations.The Company entered into agreements with BALC and CSI Leasing in April 2020 and August 2022, respectively, to provide financing for its computers and peripherals. Individual leases with BALC include 36-month payment terms, fixed rates ranging from 4.75% to 6.72%, and a $1 purchase option at the end of each lease term. The Company has pledged the assets financed to secure the outstanding leases. Individual leases under the agreement with CSI Leasing include 36-month payment terms, but do not include a stated interest rate. The Company uses its incremental borrowing rate as the implied interest rate and the total lease payments to calculate its lease liability.The following is a summary, as of June 30, 2026 and 2025, respectively, of the present value of the net minimum lease payments under the Company’s finance leases:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;white-space:nowrap;width:61.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.92%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:3.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.92%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:61.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:36.33%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, </td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:61.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:16.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:3.98%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:16.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:61.16%;background:#cceeff;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.92%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;width:3.98%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.92%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;background:#cceeff;margin:0pt;padding:0pt;"> 45,781</td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:61.16%;margin:0pt;padding:0pt;">2027</td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;margin:0pt;padding:0pt;"> 64,471</td><td style="vertical-align:bottom;width:3.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;margin:0pt;padding:0pt;"> 33,864</td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:61.16%;background:#cceeff;margin:0pt;padding:0pt;">2028</td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;background:#cceeff;margin:0pt;padding:0pt;"> 42,580</td><td style="vertical-align:bottom;width:3.98%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;background:#cceeff;margin:0pt;padding:0pt;"> 12,095</td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:61.16%;margin:0pt;padding:0pt;">2029</td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;margin:0pt;padding:0pt;"> 15,356</td><td style="vertical-align:bottom;width:3.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;margin:0pt;padding:0pt;"> 297</td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:61.16%;background:#cceeff;margin:0pt;padding:0pt;">2030</td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 373</td><td style="vertical-align:bottom;width:3.98%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:top;width:61.16%;margin:0pt;padding:0pt;">Total minimum payments </td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;margin:0pt;padding:0pt;"> 122,780</td><td style="vertical-align:bottom;width:3.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;margin:0pt;padding:0pt;"> 92,037</td></tr><tr style=""><td style="vertical-align:top;width:61.16%;background:#cceeff;margin:0pt;padding:0pt;">Less: imputed interest</td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (5,848)</td><td style="vertical-align:bottom;width:3.98%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (5,154)</td></tr><tr style=""><td style="vertical-align:top;width:61.16%;margin:0pt;padding:0pt;">Finance lease liability</td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;margin:0pt;padding:0pt;"> 116,932</td><td style="vertical-align:bottom;width:3.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;margin:0pt;padding:0pt;"> 86,883</td></tr><tr style=""><td style="vertical-align:top;width:61.16%;background:#cceeff;margin:0pt;padding:0pt;">Less: current portion of finance lease liability</td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (60,477)</td><td style="vertical-align:bottom;width:3.98%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (42,316)</td></tr><tr style=""><td style="vertical-align:top;width:61.16%;margin:0pt;padding:0pt;">Long-term finance lease liability</td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 56,455</td><td style="vertical-align:bottom;width:3.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 44,567</td></tr></table>Operating LeasesThe Company is a lessee under operating leases for various facilities to support the Company’s operations. As of June 30, 2026 and 2025, the operating lease liability was $11.1 million and $46.6 million, respectively. As of June 30, 2026 and 2025, the balance of the associated right-of-use assets was $7.3 million and $16.0 million, respectively. The right-of-use asset is recorded within deposits and other assets on the consolidated balance sheets. Lease expense associated with the Company’s operating leases is recorded within both instructional costs and services and selling, general, and administrative expenses on the consolidated statements of operations. Individual operating leases range in terms of 1 to 7 years and expire on various dates through fiscal year 2034 and the minimum lease payments are discounted using the Company’s incremental borrowing rate. The following is a summary as of June 30, 2026 and 2025, respectively, of the present value of the minimum lease payments under the Company’s operating leases:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;white-space:nowrap;width:61.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.92%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.92%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:61.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:36.33%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, </td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:61.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:16.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:3.98%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:16.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="7" style="padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:61.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:36.33%;margin:0pt;padding:0pt;">(in thousands)</td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:61.16%;background:#cceeff;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:3.98%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;background:#cceeff;margin:0pt;padding:0pt;"> 12,957</td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:61.16%;margin:0pt;padding:0pt;">2027</td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;margin:0pt;padding:0pt;"> 3,128</td><td style="vertical-align:bottom;white-space:nowrap;width:3.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;margin:0pt;padding:0pt;"> 8,942</td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:61.16%;background:#cceeff;margin:0pt;padding:0pt;">2028</td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;background:#cceeff;margin:0pt;padding:0pt;"> 2,066</td><td style="vertical-align:bottom;white-space:nowrap;width:3.98%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;background:#cceeff;margin:0pt;padding:0pt;"> 7,957</td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:61.16%;margin:0pt;padding:0pt;">2029</td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;margin:0pt;padding:0pt;"> 1,684</td><td style="vertical-align:bottom;white-space:nowrap;width:3.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;margin:0pt;padding:0pt;"> 7,776</td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:61.16%;background:#cceeff;margin:0pt;padding:0pt;">2030</td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;background:#cceeff;margin:0pt;padding:0pt;"> 1,590</td><td style="vertical-align:bottom;white-space:nowrap;width:3.98%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;background:#cceeff;margin:0pt;padding:0pt;"> 7,878</td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:61.16%;margin:0pt;padding:0pt;">2031</td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;margin:0pt;padding:0pt;"> 1,406</td><td style="vertical-align:bottom;white-space:nowrap;width:3.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;margin:0pt;padding:0pt;"> 4,748</td></tr><tr style=""><td style="vertical-align:top;white-space:nowrap;width:61.16%;background:#cceeff;margin:0pt;padding:0pt;">Thereafter</td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.92%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,443</td><td style="vertical-align:bottom;white-space:nowrap;width:3.98%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.92%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:top;width:61.16%;margin:0pt;padding:0pt;">Total minimum payments </td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;margin:0pt;padding:0pt;"> 12,317</td><td style="vertical-align:bottom;white-space:nowrap;width:3.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;margin:0pt;padding:0pt;"> 50,258</td></tr><tr style=""><td style="vertical-align:top;width:61.16%;background:#cceeff;margin:0pt;padding:0pt;">Less: imputed interest</td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1,264)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.98%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (3,703)</td></tr><tr style=""><td style="vertical-align:top;width:61.16%;margin:0pt;padding:0pt;">Operating lease liability</td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;margin:0pt;padding:0pt;"> 11,053</td><td style="vertical-align:bottom;white-space:nowrap;width:3.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;margin:0pt;padding:0pt;"> 46,555</td></tr><tr style=""><td style="vertical-align:top;width:61.16%;background:#cceeff;margin:0pt;padding:0pt;">Less: current portion of operating lease liability</td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (2,737)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.98%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (11,391)</td></tr><tr style=""><td style="vertical-align:top;width:61.16%;margin:0pt;padding:0pt;">Long-term operating lease liability</td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.26%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 8,316</td><td style="vertical-align:bottom;white-space:nowrap;width:3.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.92%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.24%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 35,164</td></tr></table>The Company was subleasing one of its facilities through December 2025. Sublease income is recorded as an offset to the related lease expense within both instructional costs and services and selling, general, and administrative expenses on the consolidated statements of operations. In December 2025, the Company signed an agreement with the landlord of its San Francisco lease to terminate the lease prior its expiration date and recorded a lease termination gain of $14.3 million as a result of eliminating its remaining lease liability and right-of-use asset. The lease termination gain is recorded within instructional costs and services within the consolidated statements of operations.The following is a summary of the Company’s lease cost, weighted-average remaining lease term, weighted-average discount rate and certain other cash flows as it relates to its operating and finance leases for the years ended June 30, 2026, 2025 and 2024:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:51.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;width:43.32%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Years Ended June 30, </td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:51.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:13.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:13.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:9.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="11" style="padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:51.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;width:43.32%;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;">Lease cost</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;">Finance lease cost:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;"> Instructional costs and services:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;"> Amortization of right-of-use assets </td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 52,326</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 37,400</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"> 31,099</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;"> Selling, general, and administrative expenses:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;"> Amortization of right-of-use assets </td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 918</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 237</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;">Interest on lease liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 5,686</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 4,280</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"> 2,639</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;">Operating lease cost:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;"> Instructional costs and services:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;"> Operating lease cost</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 3,867</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 9,154</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"> 9,605</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;"> Short-term lease cost</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 82</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 83</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"> 56</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;"> Sublease income</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> (126)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> (262)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"> (328)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;"> Selling, general, and administrative expenses:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;"> Operating lease cost</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 1,318</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 4,077</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"> 6,019</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;"> Short-term lease cost</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 94</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 93</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"> 150</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;"> Sublease income</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (149)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (491)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;">Total lease cost</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.58%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 64,165</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.58%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 54,913</td><td style="vertical-align:bottom;width:3.15%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.95%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 48,749</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;">Other information</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;">Cash paid for amounts included in the measurement of lease liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;">Operating cash flows from operating leases</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> (16,943)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> (12,396)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"> (14,990)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;">Financing cash flows from finance leases</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> (56,856)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> (41,469)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"> (40,919)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;">Right-of-use assets obtained in exchange for new finance lease liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 82,500</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 68,995</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"> 35,652</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;">Right-of-use assets obtained in exchange for new operating lease liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 1,325</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 1,012</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"> 864</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;">Weighted-average remaining lease term - finance leases</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 2.00</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;">yrs.</td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 2.07</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;">yrs.</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"> 2.02</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;">yrs.</td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;">Weighted-average remaining lease term - operating leases</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 5.58</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;">yrs.</td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 5.13</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;">yrs.</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"> 5.66</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;">yrs.</td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;">Weighted-average discount rate - finance leases</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 4.71</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 5.34</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"> 5.62</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;">%</td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;">Weighted-average discount rate - operating leases</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 4.05</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 2.95</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"> 2.92</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;">%</td></tr></table>

116900000

86900000

0.0412

0.0672

95300000

69500000

0.0475

0.0672

45781000

64471000

33864000

42580000

12095000

15356000

297000

373000

122780000

92037000

5848000

5154000

116932000

86883000

60477000

42316000

56455000

44567000

11100000

46600000

7300000

16000000

P1Y

P7Y

12957000

3128000

8942000

2066000

7957000

1684000

7776000

1590000

7878000

1406000

4748000

2443000

12317000

50258000

1264000

3703000

11053000

46555000

2737000

11391000

8316000

35164000

14300000

<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:51.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;width:43.32%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Years Ended June 30, </td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:51.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:13.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:13.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:9.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="11" style="padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:51.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;width:43.32%;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;">Lease cost</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;">Finance lease cost:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;"> Instructional costs and services:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;"> Amortization of right-of-use assets </td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 52,326</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 37,400</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"> 31,099</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;"> Selling, general, and administrative expenses:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;"> Amortization of right-of-use assets </td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 918</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 237</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;">Interest on lease liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 5,686</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 4,280</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"> 2,639</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;">Operating lease cost:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;"> Instructional costs and services:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;"> Operating lease cost</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 3,867</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 9,154</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"> 9,605</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;"> Short-term lease cost</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 82</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 83</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"> 56</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;"> Sublease income</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> (126)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> (262)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"> (328)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;"> Selling, general, and administrative expenses:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;"> Operating lease cost</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 1,318</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 4,077</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"> 6,019</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;"> Short-term lease cost</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 94</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 93</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"> 150</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;"> Sublease income</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (149)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (491)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;">Total lease cost</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.58%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 64,165</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.58%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 54,913</td><td style="vertical-align:bottom;width:3.15%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.95%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 48,749</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;">Other information</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;">Cash paid for amounts included in the measurement of lease liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;">Operating cash flows from operating leases</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> (16,943)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> (12,396)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"> (14,990)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;">Financing cash flows from finance leases</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> (56,856)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> (41,469)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"> (40,919)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;">Right-of-use assets obtained in exchange for new finance lease liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 82,500</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 68,995</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"> 35,652</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;">Right-of-use assets obtained in exchange for new operating lease liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 1,325</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 1,012</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"> 864</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;">Weighted-average remaining lease term - finance leases</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 2.00</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;">yrs.</td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 2.07</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;">yrs.</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"> 2.02</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;">yrs.</td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;">Weighted-average remaining lease term - operating leases</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 5.58</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;">yrs.</td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 5.13</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;">yrs.</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"> 5.66</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;">yrs.</td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;margin:0pt;padding:0pt;">Weighted-average discount rate - finance leases</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 4.71</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;margin:0pt;padding:0pt;"> 5.34</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"> 5.62</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;margin:0pt;padding:0pt;">%</td></tr><tr style=""><td style="vertical-align:bottom;width:51.28%;background:#cceeff;margin:0pt;padding:0pt;">Weighted-average discount rate - operating leases</td><td style="vertical-align:bottom;white-space:nowrap;width:2.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 4.05</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.93%;background:#cceeff;margin:0pt;padding:0pt;"> 2.95</td><td style="vertical-align:bottom;white-space:nowrap;width:3.15%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"> 2.92</td><td style="vertical-align:bottom;white-space:nowrap;width:3.31%;background:#cceeff;margin:0pt;padding:0pt;">%</td></tr></table>

52326000

37400000

31099000

918000

237000

5686000

4280000

2639000

3867000

9154000

9605000

82000

83000

56000

126000

262000

328000

1318000

4077000

6019000

94000

93000

150000

149000

491000

64165000

54913000

48749000

16943000

12396000

14990000

56856000

41469000

40919000

82500000

68995000

35652000

1325000

1012000

864000

P2Y

P2Y25D

P2Y7D

P5Y6M29D

P5Y1M17D

P5Y7M28D

0.0471

0.0534

0.0562

0.0405

0.0295

0.0292

7. Debt The following is a summary, as of June 30, 2026 and 2025, respectively, of the components of the Company’s outstanding long-term debt:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:48.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:21.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:20.73%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:48.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"> </td><td colspan="5" style="vertical-align:bottom;width:49.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, </td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:48.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:24.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:23.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="7" style="padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:48.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:49.14%;margin:0pt;padding:0pt;">(in thousands)</td></tr><tr style=""><td style="vertical-align:top;width:48.57%;background:#cceeff;margin:0pt;padding:0pt;">Convertible Senior Notes due 2027 </td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:21.54%;background:#cceeff;margin:0pt;padding:0pt;"> 420,000</td><td style="vertical-align:bottom;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:20.73%;background:#cceeff;margin:0pt;padding:0pt;"> 420,000</td></tr><tr style=""><td style="vertical-align:top;width:48.57%;margin:0pt;padding:0pt;">Less: unamortized debt issuance costs</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (2,005)</td><td style="vertical-align:bottom;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.73%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (3,678)</td></tr><tr style=""><td style="vertical-align:top;width:48.57%;background:#cceeff;margin:0pt;padding:0pt;">Total debt</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.54%;background:#cceeff;margin:0pt;padding:0pt;"> 417,995</td><td style="vertical-align:bottom;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.73%;background:#cceeff;margin:0pt;padding:0pt;"> 416,322</td></tr><tr style=""><td style="vertical-align:top;width:48.57%;margin:0pt;padding:0pt;">Less: current portion of debt</td><td style="vertical-align:bottom;width:2.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.73%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:top;width:48.57%;background:#cceeff;margin:0pt;padding:0pt;">Long-term debt</td><td style="vertical-align:bottom;width:2.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.65%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:21.54%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 417,995</td><td style="vertical-align:bottom;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.48%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:20.73%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 416,322</td></tr></table>Future maturities of long-term debt are expected to be $420.0 million in the fiscal year ending June 30, 2028 and zero in each of the fiscal years ending June 30, 2027, 2029 and 2030.Convertible Senior Notes due 2027In August and September 2020, the Company issued $420.0 million aggregate principal amount of Notes. The Notes are governed by an indenture (the “Indenture”) between the Company and U.S. Bank National Association, as trustee. The net proceeds from the offering of the Notes were approximately $408.6 million after deducting the underwriting fees and other expenses paid by the Company.The Notes bear interest at a rate of 1.125% per annum, payable semi-annually in arrears on March 1st and September 1st of each year, beginning on March 1, 2021. The Notes will mature on September 1, 2027. The Company recorded coupon interest expense of $4.7 million during each of the years ended June 30, 2026, 2025 and 2024.The Company incurred debt issuance costs of $11.4 million which are amortized over the contractual term of the Notes. The Company recorded interest expense of $1.7 million, $1.6 million, and $1.6 million, respectively, related to the amortization of the debt issuance costs during each of the years ended June 30, 2026, 2025 and 2024. Before June 1, 2027, noteholders will have the right to convert their Notes only upon the occurrence of certain events. After June 1, 2027, noteholders may convert their Notes at any time at their election until two days prior to the maturity date. The Company will settle conversions by paying cash up to the outstanding principal amount, and at the Company’s election, will settle the conversion spread by paying or delivering cash or shares of its common stock, or a combination of cash and shares of its common stock. The initial conversion rate is 18.9109 shares of common stock per $1,000 principal amount of Notes, which represents an initial conversion price of approximately $52.88 per share of common stock (lower strike price). The Notes are redeemable at the Company’s option at any time after September 6, 2024 at a cash redemption price equal to the principal amount of the Notes, plus accrued and unpaid interest, subject to certain stock price hurdles as discussed in the Indenture.In connection with the Notes, the Company entered into privately negotiated Capped Call Transactions with certain counterparties. The Capped Call Transactions are expected to cover the aggregate number of shares of the Company’s common stock that initially underlie the Notes, and are expected to reduce potential dilution to the Company’s common stock upon any conversion of Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of converted Notes. The upper strike price of the Capped Call Transactions is $86.174 per share. The cost of the Capped Call Transactions was $60.4 million and was recorded within additional paid-in capital.

420000000

2005000

3678000

417995000

416322000

417995000

416322000

420000000

408600000

0.01125

4700000

11400000

1700000

1600000

P2D

18.9109

1000

52.88

86.174 60400000

8. Equity Incentive PlanOn December 4, 2025, the Company’s stockholders approved a second amendment and restatement of the 2016 Equity Incentive Award Plan (the “amended and restated 2016 Plan”). The amended and restated 2016 Plan reflects an additional increase in the number of shares of common stock available for issuance by 740,000 shares and an extension of the term of the amended and restated 2016 Plan to October 17, 2035. The amended and restated 2016 Plan is designed to attract, retain and motivate employees who make important contributions to the Company by providing such individuals with equity ownership opportunities. Awards granted under the amended and restated 2016 Plan may include stock options, stock appreciation rights, restricted stock, restricted stock units, and other stock-based awards. Under the amended and restated 2016 Plan, unissued shares related to forfeited or canceled awards granted under the amended and restated 2016 Plan or awards granted under the Company’s 2007 Equity Incentive Award Plan (the “Prior Plan”) (to the extent such awards granted under the Prior Plan were outstanding as of December 15, 2016 and were forfeited or canceled prior to September 19, 2022), will again be available for issuance under the amended and restated 2016 Plan. Notwithstanding the foregoing, shares tendered to pay the exercise price or tax withholding with respect to a stock option, or shares that are not issued in connection with the settlement of a stock appreciation right on exercise thereof, or shares purchased on the open market with the cash proceeds from the exercise of options will not again be available for issuance under the amended and restated 2016 Plan.At June 30, 2026, the remaining aggregate number of shares of the Company’s common stock authorized for future issuance under the amended and restated 2016 Plan was 2,406,929. At June 30, 2026, there were 1,106,316 shares of the Company’s common stock that remain outstanding or nonvested under the amended and restated 2016 Plan and Prior Plan.Compensation expense for all equity-based compensation awards is based on the grant-date fair value. The Company recognizes these compensation costs on a straight-line basis over the requisite service period, which is generally the vesting period of the award. The vesting of performance-based awards is contingent on the achievement of certain performance metrics. Compensation expense is recognized retroactively, through a cumulative catch-up adjustment, when the performance conditions are satisfied or when the Company determines that it is probable that the performance conditions will be satisfied. The amount of compensation expense recognized for a performance-based award is affected by the level of achievement attained. Management has established three levels of attainment: threshold, target, and outperform. Stock-based compensation expense is recorded within selling, general, and administrative expenses on the consolidated statements of operations.Restricted Stock AwardsThe Company has approved grants of restricted stock awards (“RSA”) pursuant to the amended and restated 2016 Plan and Prior Plan. Under the amended and restated 2016 Plan and Prior Plan, employees, outside directors and independent contractors are able to participate in the Company’s future performance through the awards of restricted stock. Each RSA vests pursuant to the vesting schedule set forth in the restricted stock agreement granting such RSAs, generally over three years. Restricted stock award activity during the years ended June 30, 2026, 2025 and 2024 was as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:61.93%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:61.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.86%;margin:0pt;padding:0pt;">Weighted</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:61.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.86%;margin:0pt;padding:0pt;">Average</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:61.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.86%;margin:0pt;padding:0pt;">Grant-Date</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:61.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Shares</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.86%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value</td></tr><tr style=""><td style="vertical-align:bottom;width:61.93%;background:#cceeff;margin:0pt;padding:0pt;">Nonvested, June 30, 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;background:#cceeff;margin:0pt;padding:0pt;"> 815,233</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.62%;background:#cceeff;margin:0pt;padding:0pt;"> 36.91</td></tr><tr style=""><td style="vertical-align:bottom;width:61.93%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 507,443</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.62%;margin:0pt;padding:0pt;"> 43.43</td></tr><tr style=""><td style="vertical-align:bottom;width:61.93%;background:#cceeff;margin:0pt;padding:0pt;">Vested</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;background:#cceeff;margin:0pt;padding:0pt;"> (437,724)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.62%;background:#cceeff;margin:0pt;padding:0pt;"> 36.36</td></tr><tr style=""><td style="vertical-align:bottom;width:61.93%;margin:0pt;padding:0pt;">Canceled</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (153,728)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 37.37</td></tr><tr style=""><td style="vertical-align:bottom;width:61.93%;background:#cceeff;margin:0pt;padding:0pt;">Nonvested, June 30, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;background:#cceeff;margin:0pt;padding:0pt;"> 731,224</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.62%;background:#cceeff;margin:0pt;padding:0pt;"> 40.60</td></tr><tr style=""><td style="vertical-align:bottom;width:61.93%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 317,490</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.62%;margin:0pt;padding:0pt;"> 85.79</td></tr><tr style=""><td style="vertical-align:bottom;width:61.93%;background:#cceeff;margin:0pt;padding:0pt;">Vested</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;background:#cceeff;margin:0pt;padding:0pt;"> (387,471)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.62%;background:#cceeff;margin:0pt;padding:0pt;"> 42.79</td></tr><tr style=""><td style="vertical-align:bottom;width:61.93%;margin:0pt;padding:0pt;">Canceled</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (84,389)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 49.39</td></tr><tr style=""><td style="vertical-align:bottom;width:61.93%;background:#cceeff;margin:0pt;padding:0pt;">Nonvested, June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;background:#cceeff;margin:0pt;padding:0pt;"> 576,854</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.62%;background:#cceeff;margin:0pt;padding:0pt;"> 62.72</td></tr><tr style=""><td style="vertical-align:bottom;width:61.93%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;margin:0pt;padding:0pt;"> 206,518</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.62%;margin:0pt;padding:0pt;"> 137.82</td></tr><tr style=""><td style="vertical-align:bottom;width:61.93%;background:#cceeff;margin:0pt;padding:0pt;">Vested</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;background:#cceeff;margin:0pt;padding:0pt;"> (317,612)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.62%;background:#cceeff;margin:0pt;padding:0pt;"> 59.04</td></tr><tr style=""><td style="vertical-align:bottom;width:61.93%;margin:0pt;padding:0pt;">Canceled</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (64,562)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 82.44</td></tr><tr style=""><td style="vertical-align:bottom;width:61.93%;background:#cceeff;margin:0pt;padding:0pt;">Nonvested, June 30, 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.11%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 401,198</td><td style="vertical-align:bottom;white-space:nowrap;width:3.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.62%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 101.11</td></tr></table>Summary of All Restricted Stock AwardsAs of June 30, 2026, there was $28.2 million of total unrecognized compensation expense related to nonvested restricted stock awards. The cost is expected to be recognized over a weighted average period of 1.4 years. The fair value of restricted stock awards granted for the years ended June 30, 2026, 2025 and 2024, was $28.5 million, $27.2 million and $22.0 million, respectively. The total fair value of shares vested for the years ended June 30, 2026, 2025 and 2024, was $38.5 million, $43.6 million and $23.3 million, respectively. During the years ended June 30, 2026, 2025 and 2024, the Company recognized $21.5 million, $19.8 million and $16.0 million, respectively, of stock-based compensation expense related to restricted stock awards.Performance Share UnitsThe Company has approved grants of performance share units (“PSUs”) pursuant to the amended and restated 2016 Plan. Each PSU is earned through the achievement of a performance-based metric, combined with the continuation of employee service over a defined period. The level of performance determines the number of PSUs earned, and is generally measured against threshold, target and outperform achievement levels of the award. Each PSU represents the right to receive one share of the Company’s common stock, or at the option of the Company, an equivalent amount of cash, and is classified as an equity or liability award. When the grant is a fixed monetary amount, and the number of shares is not determined until achievement and the value of the Company’s stock on that day, the PSU is a liability-classified award. Each PSU vests pursuant to the vesting schedule found in the respective PSU agreement.In addition to the performance conditions of the PSUs, there is a service vesting condition which is dependent upon continuing service by the grantee as an employee of the Company, unless the grantee is eligible for earlier vesting upon a change in control and qualifying termination, as defined by the PSU agreement. PSUs are generally subject to graduated vesting schedules and stock-based compensation expense is computed by tranche and recognized on a straight-line basis over the tranches’ applicable vesting period based on the expected achievement level.Performance share unit activity during the years ended June 30, 2026, 2025 and 2024 was as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:51.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:51.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:19.93%;margin:0pt;padding:0pt;">Weighted</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:51.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:19.93%;margin:0pt;padding:0pt;">Average</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:51.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:19.93%;margin:0pt;padding:0pt;">Grant-Date</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:51.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Shares</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:19.93%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;background:#cceeff;margin:0pt;padding:0pt;">Nonvested, June 30, 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;background:#cceeff;margin:0pt;padding:0pt;"> 496,869</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;background:#cceeff;margin:0pt;padding:0pt;"> 34.99</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;margin:0pt;padding:0pt;"> 375,725</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;margin:0pt;padding:0pt;"> 41.85</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;background:#cceeff;margin:0pt;padding:0pt;">Vested</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;background:#cceeff;margin:0pt;padding:0pt;"> (22,468)</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;background:#cceeff;margin:0pt;padding:0pt;"> 49.62</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;margin:0pt;padding:0pt;">Canceled</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (90,595)</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 36.94</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;background:#cceeff;margin:0pt;padding:0pt;">Nonvested, June 30, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;background:#cceeff;margin:0pt;padding:0pt;"> 759,531</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;background:#cceeff;margin:0pt;padding:0pt;"> 37.73</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;margin:0pt;padding:0pt;"> 299,908</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;margin:0pt;padding:0pt;"> 71.40</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;background:#cceeff;margin:0pt;padding:0pt;">Vested</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;background:#cceeff;margin:0pt;padding:0pt;"> (223,241)</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;background:#cceeff;margin:0pt;padding:0pt;"> 37.44</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;margin:0pt;padding:0pt;">Canceled</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (134,291)</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 42.60</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;background:#cceeff;margin:0pt;padding:0pt;">Nonvested, June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;background:#cceeff;margin:0pt;padding:0pt;"> 701,907</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;background:#cceeff;margin:0pt;padding:0pt;"> 51.27</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;margin:0pt;padding:0pt;"> 354,664</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;margin:0pt;padding:0pt;"> 83.87</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;background:#cceeff;margin:0pt;padding:0pt;">Vested</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;background:#cceeff;margin:0pt;padding:0pt;"> (413,681)</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;background:#cceeff;margin:0pt;padding:0pt;"> 34.90</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;margin:0pt;padding:0pt;">Canceled</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (18,875)</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 80.15</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;background:#cceeff;margin:0pt;padding:0pt;">Nonvested, June 30, 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 624,015</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 79.78</td></tr></table>The Company has granted PSUs under a Long-Term Incentive Plan (“LTIP”) which are tied to operating income targets (“Tranche #1”) and compounded annual stock price growth (“Tranche #2”) over a three-year performance period. The level of performance will determine the number of PSUs earned as measured against threshold (50%), target (100%) and outperform (200%) achievement levels. The Company begins to amortize the fair value of Tranche #1 over the vesting period when it assesses that achievement is probable at the threshold level. The fair value of Tranche #2 is determined using a Monte Carlo simulation model and is amortized over the vesting period. Tranche #2 is a market-based award and therefore is not subject to any probability assessment by the Company. The following table is a summary of the PSUs outstanding:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:middle;width:14.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:0.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:11.19%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:1.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:7.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:1.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:11.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:3.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:9.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:11.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:11.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:11.19%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:middle;width:14.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fiscal Year</td><td style="vertical-align:middle;width:0.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Grant Date Fair Value</td><td style="vertical-align:middle;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:7.85%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Number of Target Shares</td><td style="vertical-align:middle;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Weighted Average Grant Date Fair Value</td><td style="vertical-align:middle;width:3.44%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:9.03%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Tranche #1</td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Tranche #2</td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Vest Date</td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Tranche #1 Probability Assessment</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:14.8%;background:#cceeff;margin:0pt;padding:0pt;">Fiscal Year 2026</td><td style="vertical-align:middle;white-space:nowrap;width:0.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.19%;background:#cceeff;margin:0pt;padding:0pt;">$22.2 million</td><td style="vertical-align:middle;white-space:nowrap;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.85%;background:#cceeff;margin:0pt;padding:0pt;"> 146,911</td><td style="vertical-align:middle;white-space:nowrap;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.21%;background:#cceeff;margin:0pt;padding:0pt;">$151.16 </td><td style="vertical-align:middle;white-space:nowrap;width:3.44%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:9.03%;background:#cceeff;margin:0pt;padding:0pt;">81,093 shares based on FY28 Operating Income</td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;background:#cceeff;margin:0pt;padding:0pt;">65,818 shares based on Stock Price Growth in September 2029</td><td style="vertical-align:middle;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;background:#cceeff;margin:0pt;padding:0pt;">First Quarter of Fiscal Year 2029</td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.19%;background:#cceeff;margin:0pt;padding:0pt;">Not Yet Determinable</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:14.8%;margin:0pt;padding:0pt;">Fiscal Year 2025</td><td style="vertical-align:middle;white-space:nowrap;width:0.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.19%;margin:0pt;padding:0pt;">$17.0 million</td><td style="vertical-align:middle;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.85%;margin:0pt;padding:0pt;"> 210,620</td><td style="vertical-align:middle;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.21%;margin:0pt;padding:0pt;">$80.89 </td><td style="vertical-align:middle;white-space:nowrap;width:3.44%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:9.03%;margin:0pt;padding:0pt;">158,470 shares based on FY27 Operating Income</td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;margin:0pt;padding:0pt;">52,150 shares based on Stock Price Growth in September 2028</td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;margin:0pt;padding:0pt;">First Quarter of Fiscal Year 2028</td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.19%;margin:0pt;padding:0pt;">Outperform</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:14.8%;background:#cceeff;margin:0pt;padding:0pt;">Fiscal Year 2024</td><td style="vertical-align:middle;white-space:nowrap;width:0.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.19%;background:#cceeff;margin:0pt;padding:0pt;">$14.4 million</td><td style="vertical-align:middle;white-space:nowrap;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.85%;background:#cceeff;margin:0pt;padding:0pt;"> 354,090</td><td style="vertical-align:middle;white-space:nowrap;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.21%;background:#cceeff;margin:0pt;padding:0pt;">$40.84 </td><td style="vertical-align:middle;white-space:nowrap;width:3.44%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:9.03%;background:#cceeff;margin:0pt;padding:0pt;">265,630 shares based on FY26 Operating Income</td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;background:#cceeff;margin:0pt;padding:0pt;">88,460 shares based on Stock Price Growth in September 2027</td><td style="vertical-align:middle;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;background:#cceeff;margin:0pt;padding:0pt;">First Quarter of Fiscal Year 2027</td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.19%;background:#cceeff;margin:0pt;padding:0pt;">Outperform</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:14.8%;margin:0pt;padding:0pt;">Fiscal Year 2023</td><td style="vertical-align:middle;white-space:nowrap;width:0.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.19%;margin:0pt;padding:0pt;">$10.0 million</td><td style="vertical-align:middle;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.85%;margin:0pt;padding:0pt;"> 289,640</td><td style="vertical-align:middle;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.21%;margin:0pt;padding:0pt;">$34.41 </td><td style="vertical-align:middle;white-space:nowrap;width:3.44%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:9.03%;margin:0pt;padding:0pt;">144,820 shares based on FY25 Operating Income</td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;margin:0pt;padding:0pt;">144,820 shares based on Stock Price Growth in September 2026</td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;margin:0pt;padding:0pt;">First Quarter of Fiscal Year 2026</td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.19%;margin:0pt;padding:0pt;">Achieved</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:14.8%;background:#cceeff;margin:0pt;padding:0pt;">Fiscal Year 2022</td><td style="vertical-align:middle;white-space:nowrap;width:0.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.19%;background:#cceeff;margin:0pt;padding:0pt;">$9.1 million</td><td style="vertical-align:middle;white-space:nowrap;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.85%;background:#cceeff;margin:0pt;padding:0pt;"> 250,250</td><td style="vertical-align:middle;white-space:nowrap;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.21%;background:#cceeff;margin:0pt;padding:0pt;">$36.30 </td><td style="vertical-align:middle;white-space:nowrap;width:3.44%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:9.03%;background:#cceeff;margin:0pt;padding:0pt;">125,125 shares based on FY24 Gross Margin</td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;background:#cceeff;margin:0pt;padding:0pt;">125,125 shares based on Stock Price Growth in September 2025</td><td style="vertical-align:middle;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;background:#cceeff;margin:0pt;padding:0pt;">First Quarter of Fiscal Year 2025</td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.19%;background:#cceeff;margin:0pt;padding:0pt;">Achieved</td></tr></table>Fiscal Year 2023 LTIPIn July 2025, achievement was certified at 200% of target for Tranche #1, which resulted in the vesting of 204,340 shares. In September 2025, achievement was certified at 200% of target for Tranche #2, which resulted in the vesting of 204,340 shares.Fiscal Year 2022 LTIPIn July 2024, achievement was certified at 70% of target for Tranche #1, which resulted in the vesting of 62,379 shares. In September 2024, achievement was certified at 175.0% of target for Tranche #2, which resulted in the vesting of 155,946 shares.Fiscal Year 2021 Tech Elevator MIPDuring fiscal year 2021, the Company granted to the executive team of Tech Elevator a time-based award with a value of $4.0 million and a performance-based award with a target value of $4.0 million under a Management Incentive Plan (“MIP”). The time-based award vests equally over three years on the anniversary of the closing date of the acquisition of Tech Elevator which was November 30, 2020. During the second quarter of fiscal year 2022, one-third vested and was settled with the issuance of 38,575 PSUs. During the second quarter of fiscal year 2023, an additional one-third vested and was settled with the issuance of 37,886 PSUs. During the second quarter of fiscal year 2024, the final third vested and was settled with the issuance of 13,066 PSUs. The performance-based award is tied to the achievement of certain revenue and EBITDA targets of Tech Elevator. Seventy percent of the award is based on Tech Elevator’s revenues for the calendar year 2023 (“Tranche #1”) and thirty percent of the earned award is based on Tech Elevator’s EBITDA for the calendar year 2023 (“Tranche #2”), both of which were expected to vest after achievement in January 2024. The level of performance determined the number of PSUs earned as measured against threshold and target achievement levels. In all cases, vesting was dependent upon continuing service by the grantee as an employee of the Company. The MIP was a liability-classified award. In January 2024, the Company determined that the performance award metrics for calendar year 2023 were not met and Tranches #1 and #2 were forfeited.Fiscal Year 2021 LTIPDuring fiscal year 2021, the Company granted 111,450 PSUs at target under an LTIP which are tied to the achievement of certain individualized financial and non-financial performance targets. These PSUs had a grant date fair value of $2.7 million, or a weighted average grant-date fair value of $24.15 per share. In December 2022, achievement was certified related to two metrics – one at threshold and one at 123% of target. Forty percent, or 4,533 shares vested immediately and an additional sixty percent, or 6,797 shares vested in December 2023. The remaining shares tied to metrics that were not achieved were forfeited. The fiscal year 2021 LTIP is an equity-classified award.Summary of All Performance Share UnitsAs of June 30, 2026, there was $18.2 million of total unrecognized compensation expense related to nonvested PSUs that are expected to vest based on the Company’s probability assumptions discussed above. The cost is expected to be recognized over a weighted average period of 1.0 years. During the years ended June 30, 2026, 2025 and 2024, the Company recognized $18.5 million, $16.9 million, and $15.4 million, respectively, of stock-based compensation expense related to PSUs. Included in the stock-based compensation expense above, for the years ended June 30, 2026, 2025 and 2024 is zero, zero, and $0.3 million, respectively, related to the Tech Elevator time-based portion of the MIP. The time-based portion of the MIP fully vested during the second quarter of fiscal year 2024 and was settled with the issuance of PSUs. Therefore, the amount recorded in accrued liabilities for future issuances is zero.Deferred Stock Units (“DSUs”)The DSUs vest on the grant-date anniversary and are settled in the form of shares of common stock issued to the holder upon separation from the Company. DSUs are specific only to board members.Deferred stock unit activity during the years ended June 30, 2026, 2025 and 2024 was as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:52.13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:18.29%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.9%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:22.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:52.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.29%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:25.44%;margin:0pt;padding:0pt;">Weighted</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:52.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.29%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:25.44%;margin:0pt;padding:0pt;">Average</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:52.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.29%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:25.44%;margin:0pt;padding:0pt;">Grant-Date</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:52.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:18.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Shares</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:25.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value</td></tr><tr style=""><td style="vertical-align:bottom;width:52.13%;background:#cceeff;margin:0pt;padding:0pt;">Nonvested, June 30, 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.29%;background:#cceeff;margin:0pt;padding:0pt;"> 99,535</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.9%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:22.54%;background:#cceeff;margin:0pt;padding:0pt;"> 27.38</td></tr><tr style=""><td style="vertical-align:bottom;width:52.13%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.29%;margin:0pt;padding:0pt;"> 13,171</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.9%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:22.54%;margin:0pt;padding:0pt;"> 59.43</td></tr><tr style=""><td style="vertical-align:bottom;width:52.13%;background:#cceeff;margin:0pt;padding:0pt;">Vested</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.29%;background:#cceeff;margin:0pt;padding:0pt;"> (16,102)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.9%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:22.54%;background:#cceeff;margin:0pt;padding:0pt;"> 22.91</td></tr><tr style=""><td style="vertical-align:bottom;width:52.13%;margin:0pt;padding:0pt;">Canceled</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.9%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:22.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:bottom;width:52.13%;background:#cceeff;margin:0pt;padding:0pt;">Nonvested, June 30, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.29%;background:#cceeff;margin:0pt;padding:0pt;"> 96,604</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.9%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:22.54%;background:#cceeff;margin:0pt;padding:0pt;"> 32.49</td></tr><tr style=""><td style="vertical-align:bottom;width:52.13%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.29%;margin:0pt;padding:0pt;"> 6,621</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.9%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:22.54%;margin:0pt;padding:0pt;"> 108.92</td></tr><tr style=""><td style="vertical-align:bottom;width:52.13%;background:#cceeff;margin:0pt;padding:0pt;">Vested</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.29%;background:#cceeff;margin:0pt;padding:0pt;"> (34,446)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.9%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:22.54%;background:#cceeff;margin:0pt;padding:0pt;"> 27.03</td></tr><tr style=""><td style="vertical-align:bottom;width:52.13%;margin:0pt;padding:0pt;">Canceled</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.9%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:22.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:bottom;width:52.13%;background:#cceeff;margin:0pt;padding:0pt;">Nonvested, June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.29%;background:#cceeff;margin:0pt;padding:0pt;"> 68,779</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.9%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:22.54%;background:#cceeff;margin:0pt;padding:0pt;"> 42.58</td></tr><tr style=""><td style="vertical-align:bottom;width:52.13%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.29%;margin:0pt;padding:0pt;"> 12,324</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.9%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:22.54%;margin:0pt;padding:0pt;"> 61.22</td></tr><tr style=""><td style="vertical-align:bottom;width:52.13%;background:#cceeff;margin:0pt;padding:0pt;">Vested</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.29%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.9%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:22.54%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:bottom;width:52.13%;margin:0pt;padding:0pt;">Canceled</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.9%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:22.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:52.13%;background:#cceeff;margin:0pt;padding:0pt;">Nonvested, June 30, 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.29%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 81,103</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.9%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:22.54%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 45.41</td></tr></table>Summary of All Deferred Stock UnitsAs of June 30, 2026, there was $0.3 million of total unrecognized compensation expense related to nonvested DSUs. The cost is expected to be recognized over a weighted average period of 0.4 years. During the years ended June 30, 2026, 2025 and 2024, the Company recognized $0.7 million, $0.8 million and $0.9 million, respectively, of stock-based compensation expense related to DSUs.

740000

2406929

1106316

P3Y

815233

36.91

507443

43.43

437724

36.36

153728

37.37

731224

40.6

317490

85.79

387471

42.79

84389

49.39

576854

62.72

206518

137.82

317612

59.04

64562

82.44

401198

101.11

28200000

P1Y4M24D

28500000 27200000 22000000

38500000

43600000

23300000

21500000

19800000

16000000

<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:51.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:51.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:19.93%;margin:0pt;padding:0pt;">Weighted</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:51.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:19.93%;margin:0pt;padding:0pt;">Average</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:51.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:19.93%;margin:0pt;padding:0pt;">Grant-Date</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:51.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Shares</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:19.93%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;background:#cceeff;margin:0pt;padding:0pt;">Nonvested, June 30, 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;background:#cceeff;margin:0pt;padding:0pt;"> 496,869</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;background:#cceeff;margin:0pt;padding:0pt;"> 34.99</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;margin:0pt;padding:0pt;"> 375,725</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;margin:0pt;padding:0pt;"> 41.85</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;background:#cceeff;margin:0pt;padding:0pt;">Vested</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;background:#cceeff;margin:0pt;padding:0pt;"> (22,468)</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;background:#cceeff;margin:0pt;padding:0pt;"> 49.62</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;margin:0pt;padding:0pt;">Canceled</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (90,595)</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 36.94</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;background:#cceeff;margin:0pt;padding:0pt;">Nonvested, June 30, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;background:#cceeff;margin:0pt;padding:0pt;"> 759,531</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;background:#cceeff;margin:0pt;padding:0pt;"> 37.73</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;margin:0pt;padding:0pt;"> 299,908</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;margin:0pt;padding:0pt;"> 71.40</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;background:#cceeff;margin:0pt;padding:0pt;">Vested</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;background:#cceeff;margin:0pt;padding:0pt;"> (223,241)</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;background:#cceeff;margin:0pt;padding:0pt;"> 37.44</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;margin:0pt;padding:0pt;">Canceled</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (134,291)</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 42.60</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;background:#cceeff;margin:0pt;padding:0pt;">Nonvested, June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;background:#cceeff;margin:0pt;padding:0pt;"> 701,907</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;background:#cceeff;margin:0pt;padding:0pt;"> 51.27</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;margin:0pt;padding:0pt;"> 354,664</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;margin:0pt;padding:0pt;"> 83.87</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;background:#cceeff;margin:0pt;padding:0pt;">Vested</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;background:#cceeff;margin:0pt;padding:0pt;"> (413,681)</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;background:#cceeff;margin:0pt;padding:0pt;"> 34.90</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;margin:0pt;padding:0pt;">Canceled</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (18,875)</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 80.15</td></tr><tr style=""><td style="vertical-align:bottom;width:51.49%;background:#cceeff;margin:0pt;padding:0pt;">Nonvested, June 30, 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.21%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 624,015</td><td style="vertical-align:bottom;white-space:nowrap;width:4.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.97%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 79.78</td></tr></table><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:middle;width:14.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:0.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:11.19%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:1.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:7.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:1.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:11.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:3.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:9.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:11.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:11.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:11.19%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:middle;width:14.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fiscal Year</td><td style="vertical-align:middle;width:0.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Grant Date Fair Value</td><td style="vertical-align:middle;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:7.85%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Number of Target Shares</td><td style="vertical-align:middle;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Weighted Average Grant Date Fair Value</td><td style="vertical-align:middle;width:3.44%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:9.03%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Tranche #1</td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Tranche #2</td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Vest Date</td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Tranche #1 Probability Assessment</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:14.8%;background:#cceeff;margin:0pt;padding:0pt;">Fiscal Year 2026</td><td style="vertical-align:middle;white-space:nowrap;width:0.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.19%;background:#cceeff;margin:0pt;padding:0pt;">$22.2 million</td><td style="vertical-align:middle;white-space:nowrap;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.85%;background:#cceeff;margin:0pt;padding:0pt;"> 146,911</td><td style="vertical-align:middle;white-space:nowrap;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.21%;background:#cceeff;margin:0pt;padding:0pt;">$151.16 </td><td style="vertical-align:middle;white-space:nowrap;width:3.44%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:9.03%;background:#cceeff;margin:0pt;padding:0pt;">81,093 shares based on FY28 Operating Income</td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;background:#cceeff;margin:0pt;padding:0pt;">65,818 shares based on Stock Price Growth in September 2029</td><td style="vertical-align:middle;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;background:#cceeff;margin:0pt;padding:0pt;">First Quarter of Fiscal Year 2029</td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.19%;background:#cceeff;margin:0pt;padding:0pt;">Not Yet Determinable</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:14.8%;margin:0pt;padding:0pt;">Fiscal Year 2025</td><td style="vertical-align:middle;white-space:nowrap;width:0.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.19%;margin:0pt;padding:0pt;">$17.0 million</td><td style="vertical-align:middle;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.85%;margin:0pt;padding:0pt;"> 210,620</td><td style="vertical-align:middle;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.21%;margin:0pt;padding:0pt;">$80.89 </td><td style="vertical-align:middle;white-space:nowrap;width:3.44%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:9.03%;margin:0pt;padding:0pt;">158,470 shares based on FY27 Operating Income</td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;margin:0pt;padding:0pt;">52,150 shares based on Stock Price Growth in September 2028</td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;margin:0pt;padding:0pt;">First Quarter of Fiscal Year 2028</td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.19%;margin:0pt;padding:0pt;">Outperform</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:14.8%;background:#cceeff;margin:0pt;padding:0pt;">Fiscal Year 2024</td><td style="vertical-align:middle;white-space:nowrap;width:0.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.19%;background:#cceeff;margin:0pt;padding:0pt;">$14.4 million</td><td style="vertical-align:middle;white-space:nowrap;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.85%;background:#cceeff;margin:0pt;padding:0pt;"> 354,090</td><td style="vertical-align:middle;white-space:nowrap;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.21%;background:#cceeff;margin:0pt;padding:0pt;">$40.84 </td><td style="vertical-align:middle;white-space:nowrap;width:3.44%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:9.03%;background:#cceeff;margin:0pt;padding:0pt;">265,630 shares based on FY26 Operating Income</td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;background:#cceeff;margin:0pt;padding:0pt;">88,460 shares based on Stock Price Growth in September 2027</td><td style="vertical-align:middle;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;background:#cceeff;margin:0pt;padding:0pt;">First Quarter of Fiscal Year 2027</td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.19%;background:#cceeff;margin:0pt;padding:0pt;">Outperform</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:14.8%;margin:0pt;padding:0pt;">Fiscal Year 2023</td><td style="vertical-align:middle;white-space:nowrap;width:0.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.19%;margin:0pt;padding:0pt;">$10.0 million</td><td style="vertical-align:middle;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.85%;margin:0pt;padding:0pt;"> 289,640</td><td style="vertical-align:middle;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.21%;margin:0pt;padding:0pt;">$34.41 </td><td style="vertical-align:middle;white-space:nowrap;width:3.44%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:9.03%;margin:0pt;padding:0pt;">144,820 shares based on FY25 Operating Income</td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;margin:0pt;padding:0pt;">144,820 shares based on Stock Price Growth in September 2026</td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;margin:0pt;padding:0pt;">First Quarter of Fiscal Year 2026</td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.19%;margin:0pt;padding:0pt;">Achieved</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:14.8%;background:#cceeff;margin:0pt;padding:0pt;">Fiscal Year 2022</td><td style="vertical-align:middle;white-space:nowrap;width:0.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.19%;background:#cceeff;margin:0pt;padding:0pt;">$9.1 million</td><td style="vertical-align:middle;white-space:nowrap;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.85%;background:#cceeff;margin:0pt;padding:0pt;"> 250,250</td><td style="vertical-align:middle;white-space:nowrap;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.21%;background:#cceeff;margin:0pt;padding:0pt;">$36.30 </td><td style="vertical-align:middle;white-space:nowrap;width:3.44%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:9.03%;background:#cceeff;margin:0pt;padding:0pt;">125,125 shares based on FY24 Gross Margin</td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;background:#cceeff;margin:0pt;padding:0pt;">125,125 shares based on Stock Price Growth in September 2025</td><td style="vertical-align:middle;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:11.21%;background:#cceeff;margin:0pt;padding:0pt;">First Quarter of Fiscal Year 2025</td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.19%;background:#cceeff;margin:0pt;padding:0pt;">Achieved</td></tr></table>

496869

34.99

375725

41.85

22468

49.62

90595

36.94

759531

37.73

299908

71.4

223241

37.44

134291

42.6

701907

51.27

354664

83.87

413681

34.9

18875

80.15

624015

79.78

-0.50 -1 -2 22200000

146911

151.16

81093

65818

17000000

210620

80.89

158470

52150

14400000

354090

40.84

265630

88460

10000000

289640

34.41

144820

9100000

250250

36.3

125125

204340

0.70

62379

1.75

155946

4000000 4000000

P3Y

38575

37886

13066

0.70

0.30

111450

2700000

24.15

2 1 1

1.23

0.40

4533

0.60

6797

18200000

P1Y

18500000

16900000

15400000

300000

99535

27.38

13171

59.43

16102

22.91

96604

32.49

6621

108.92

34446

27.03

68779

42.58

12324

61.22

81103

45.41

300000

P0Y4M24D

700000

800000

900000

9. Employee Stock Purchase PlanOn December 4, 2025, the Company’s stockholders approved the 2025 ESPP, which became effective February 1, 2026 with the beginning of the first purchase period (the “enrollment date”). The 2025 ESPP allows eligible employees to purchase shares of the Company’s common stock through payroll deductions during 12-month offering periods with semi-annual purchase dates. The purchase price is 85% of the lower of the fair market value of the Company’s common stock on the enrollment date or the applicable purchase date. Employees may contribute up to 10% of eligible compensation, subject to plan limits. A total of 4,000,000 shares of common stock were authorized for issuance under the 2025 ESPP. No shares were purchased during the year ended June 30, 2026, as the initial purchase date had not occurred as of June 30, 2026. The impact of the 2025 ESPP purchase rights on stock-based compensation expense for the year ended June 30, 2026 was immaterial.

0.85

0.10

4000000

10. Stock Repurchase ProgramOn November 3, 2025, the Company’s Board of Directors authorized a stock repurchase program for the purchase of up to $500 million of the Company’s common stock until October 31, 2026. Share repurchases may be made for cash in open market transactions at prevailing market prices or in privately negotiated transactions or otherwise. During the year ended June 30, 2026, the Company repurchased 2,314,944 shares of its common stock for an aggregate purchase price of approximately $188.7 million, or an average price of $ 81.50 per share. As of June 30, 2026, $311.3 million remained available for repurchases under the stock repurchase program.

500000000

2314944

188700000

81.5

311300000

11. Commitments and ContingenciesLitigationIn the ordinary conduct of the Company’s business, the Company is subject to lawsuits, arbitrations, disputes and administrative proceedings from time to time. The Company vigorously defends these claims; however, no assurances can be given as to the outcome of any pending legal proceedings or disputes. The Company believes, based on currently available information, that the outcome of any existing or known threatened proceedings, even if determined adversely, should not have a material adverse effect on its business, financial condition, liquidity or results of operations.Securities LitigationOn November 11, 2025, a putative securities class action lawsuit captioned Vivienne MacMahon v. Stride, Inc., et al., Case No. 1:25-cv-02019 was filed against the Company and two of its officers in the United States District Court for the Eastern District of Virginia, purportedly on behalf of a class of persons who purchased or otherwise acquired the Company’s common stock between October 22, 2024 and October 28, 2025. The Court appointed lead plaintiffs filed an amended complaint on March 16, 2026. The amended complaint asserts violations by the Company and the individual defendants of Section 10(b) of the Exchange Act, and Rule 10b-5 promulgated under the Exchange Act, and violations by the individual defendants of Section 20(a) of the Exchange Act. The amended complaint alleges, among other things, that the Company and the individual defendants made false or misleading statements and/or omitted to disclose material facts concerning the Company’s legacy technology platform and the rollout of a new platform for Fiscal Year 2026. The amended complaint seeks unspecified monetary damages and other relief. The Company moved to dismiss the amended complaint on April 21, 2026. On June 18, 2026, the Court granted the Company’s motion to dismiss all claims against the Company and the individual defendants.Employment ArrangementsThe Company has entered into employment arrangements with certain executive officers that provide for severance payments and, in some cases, other benefits, upon certain terminations of employment. All arrangements provide for employment on an “at-will” basis. If the employee resigns for “good reason” or is terminated without cause, the employee is entitled to salary continuation, and in some cases benefit continuation, for varying periods depending on the arrangement.Off-Balance Sheet ArrangementsThe Company contractually guarantees that certain schools under the Company’s management will not have annual operating deficits and the Company’s management fees from these schools may be reduced accordingly to cover any school operating deficits.Other than the operating deficit guarantees, the Company did not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company’s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.

12. SeveranceDuring the years ended June 30, 2026, 2025 and 2024, the Company recorded severance of $3.2 million, $6.6 million and $4.6 million, respectively. Included in severance expense for the years ended June 30, 2026, 2025 and 2024 is $0.1 million, $1.6 million and $0.5 million, respectively, associated with accelerated vesting of equity awards to former executives and other employees.

3200000

6600000

4600000

100000

1600000

500000

13. Related Party TransactionsThe Company contributed to Future of School, a charity focused on access to quality education. Future of School was a related party because a former executive officer of the Company formerly served on its Board of Directors. During the years ended June 30, 2026, 2025 and 2024, contributions made by the Company to Future of School were zero. In fiscal year 2019 and 2021, the Company accrued $2.5 million and $3.5 million, respectively, for contributions to be made in subsequent years. In October 2022, a lawsuit was filed regarding future contributions, and in January 2024, a Virginia trial court found that the Company was not obligated to make any additional contributions. The trial court’s decision was affirmed by an intermediate appellate court, and in December 2025, the Supreme Court of Virginia declined Future of School’s petition for appeal, resulting in a confirmation of the trial court’s ruling. As a result, in December 2025, the Company reversed the remaining $2.3 million that had been accrued.

0 0 0 2500000 3500000 2300000

14. Employee BenefitsThe Company maintains a 401(k) salary deferral plan (the “401(k) Plan”) for its employees. Employees who have been employed for at least 30 days may voluntarily contribute to the 401(k) Plan on a pretax basis, up to the maximum allowed by the Internal Revenue Service. The 401(k) Plan provides for a matching Company contribution of 50%, up to the first 5% of each participant’s contribution. The Company expensed $9.3 million, $8.5 million and $7.7 million during the years ended June 30, 2026, 2025 and 2024, respectively, under the 401(k) Plan.

0.50

0.05

9300000

8500000

7700000

15. Supplemental Disclosure of Cash Flow Information<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-0.23181534%;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:61.9%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.63%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:61.9%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:35.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Years Ended June 30, </td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:61.9%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.34%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.33%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.32%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="10" style="padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:61.9%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"></td><td colspan="7" style="vertical-align:middle;width:33.69%;margin:0pt;padding:0pt;">(In thousands)</td></tr><tr style=""><td style="vertical-align:top;width:61.9%;background:#cceeff;margin:0pt;padding:0pt;">Cash paid for interest </td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.64%;background:#cceeff;margin:0pt;padding:0pt;"> 10,437</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.63%;background:#cceeff;margin:0pt;padding:0pt;"> 9,144</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.62%;background:#cceeff;margin:0pt;padding:0pt;"> 7,521</td></tr><tr style=""><td style="vertical-align:top;width:61.9%;margin:0pt;padding:0pt;">Cash paid for taxes (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.64%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.63%;margin:0pt;padding:0pt;"> 67,901</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.62%;margin:0pt;padding:0pt;"> 85,228</td></tr><tr style=""><td style="vertical-align:bottom;width:61.9%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.63%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.62%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:61.9%;margin:0pt;padding:0pt;">Supplemental disclosure of non-cash financing activities: </td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.62%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:61.9%;background:#cceeff;margin:0pt;padding:0pt;">Right-of-use assets obtained in exchange for new finance lease liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.64%;background:#cceeff;margin:0pt;padding:0pt;"> 82,500</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.63%;background:#cceeff;margin:0pt;padding:0pt;"> 68,995</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.62%;background:#cceeff;margin:0pt;padding:0pt;"> 35,652</td></tr><tr style=""><td style="vertical-align:bottom;width:61.9%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.62%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:61.9%;background:#cceeff;margin:0pt;padding:0pt;">Supplemental disclosure of non-cash investing activities: </td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.63%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.62%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:61.9%;margin:0pt;padding:0pt;">Stock-based compensation expense capitalized on software development</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.64%;margin:0pt;padding:0pt;"> 774</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.63%;margin:0pt;padding:0pt;"> 551</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.62%;margin:0pt;padding:0pt;"> 816</td></tr><tr style=""><td style="vertical-align:top;width:61.9%;background:#cceeff;margin:0pt;padding:0pt;">Stock-based compensation expense capitalized on curriculum development</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.64%;background:#cceeff;margin:0pt;padding:0pt;"> 163</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.63%;background:#cceeff;margin:0pt;padding:0pt;"> 128</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.62%;background:#cceeff;margin:0pt;padding:0pt;"> 76</td></tr></table>

<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-0.23181534%;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:61.9%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.63%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:61.9%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:35.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Years Ended June 30, </td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:61.9%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.34%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.33%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.32%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="10" style="padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:61.9%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"></td><td colspan="7" style="vertical-align:middle;width:33.69%;margin:0pt;padding:0pt;">(In thousands)</td></tr><tr style=""><td style="vertical-align:top;width:61.9%;background:#cceeff;margin:0pt;padding:0pt;">Cash paid for interest </td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.64%;background:#cceeff;margin:0pt;padding:0pt;"> 10,437</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.63%;background:#cceeff;margin:0pt;padding:0pt;"> 9,144</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.62%;background:#cceeff;margin:0pt;padding:0pt;"> 7,521</td></tr><tr style=""><td style="vertical-align:top;width:61.9%;margin:0pt;padding:0pt;">Cash paid for taxes (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.64%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.63%;margin:0pt;padding:0pt;"> 67,901</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.62%;margin:0pt;padding:0pt;"> 85,228</td></tr><tr style=""><td style="vertical-align:bottom;width:61.9%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.63%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.62%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:61.9%;margin:0pt;padding:0pt;">Supplemental disclosure of non-cash financing activities: </td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.62%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:61.9%;background:#cceeff;margin:0pt;padding:0pt;">Right-of-use assets obtained in exchange for new finance lease liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.64%;background:#cceeff;margin:0pt;padding:0pt;"> 82,500</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.63%;background:#cceeff;margin:0pt;padding:0pt;"> 68,995</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.62%;background:#cceeff;margin:0pt;padding:0pt;"> 35,652</td></tr><tr style=""><td style="vertical-align:bottom;width:61.9%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.62%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:61.9%;background:#cceeff;margin:0pt;padding:0pt;">Supplemental disclosure of non-cash investing activities: </td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.63%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.62%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:top;width:61.9%;margin:0pt;padding:0pt;">Stock-based compensation expense capitalized on software development</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.64%;margin:0pt;padding:0pt;"> 774</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.63%;margin:0pt;padding:0pt;"> 551</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.62%;margin:0pt;padding:0pt;"> 816</td></tr><tr style=""><td style="vertical-align:top;width:61.9%;background:#cceeff;margin:0pt;padding:0pt;">Stock-based compensation expense capitalized on curriculum development</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.64%;background:#cceeff;margin:0pt;padding:0pt;"> 163</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.63%;background:#cceeff;margin:0pt;padding:0pt;"> 128</td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.62%;background:#cceeff;margin:0pt;padding:0pt;"> 76</td></tr></table>

10437000

9144000

7521000

67901000

85228000

82500000 68995000 35652000 774000 551000 816000 163000 128000 76000 SCHEDULE IISTRIDE, INC.VALUATION AND QUALIFYING ACCOUNTSYears Ending June 30, 2026, 2025 and 20241. ALLOWANCE FOR CREDIT LOSSES<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:auto;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:normal;width:47.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:0.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:10.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:10.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:13.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:0.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:10.19%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:47.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.64%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:0.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:10.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:10.52%;margin:0pt;padding:0pt;">Additions</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:13.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:0.48%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:1.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:10.19%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:47.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.64%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:11.61%;margin:0pt;padding:0pt;">Balance at</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:10.52%;margin:0pt;padding:0pt;">Charged to</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:13.47%;margin:0pt;padding:0pt;">Deductions from</td><td style="vertical-align:bottom;white-space:normal;width:0.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:10.19%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:47.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.64%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:11.61%;margin:0pt;padding:0pt;">Beginning</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:10.52%;margin:0pt;padding:0pt;">Cost and</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:13.47%;margin:0pt;padding:0pt;">(Net Increases to)</td><td style="vertical-align:bottom;white-space:normal;width:0.48%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:11.55%;margin:0pt;padding:0pt;">Balance at</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:47.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.64%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:11.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">of Period</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:10.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Expenses</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:13.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Allowance</td><td style="vertical-align:bottom;white-space:normal;width:0.48%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:11.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">End of Period</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:47.42%;background:#cceeff;margin:0pt;padding:0pt;">June 30, 2026</td><td style="vertical-align:bottom;white-space:normal;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:0.93%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:10.67%;background:#cceeff;margin:0pt;padding:0pt;"> 31,123,755</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:10.52%;background:#cceeff;margin:0pt;padding:0pt;"> 16,430,560</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"> 16,252,780</td><td style="vertical-align:bottom;white-space:normal;width:0.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.35%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:10.19%;background:#cceeff;margin:0pt;padding:0pt;"> 31,301,535</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:47.42%;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:normal;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:0.93%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:10.67%;margin:0pt;padding:0pt;"> 31,297,967</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:10.52%;margin:0pt;padding:0pt;"> 15,266,692</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:13.47%;margin:0pt;padding:0pt;"> 15,440,904</td><td style="vertical-align:bottom;white-space:normal;width:0.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.35%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:10.19%;margin:0pt;padding:0pt;"> 31,123,755</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:47.42%;background:#cceeff;margin:0pt;padding:0pt;">June 30, 2024</td><td style="vertical-align:bottom;white-space:normal;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:0.93%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:10.67%;background:#cceeff;margin:0pt;padding:0pt;"> 30,031,273</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:10.52%;background:#cceeff;margin:0pt;padding:0pt;"> 22,843,961</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"> 21,577,267</td><td style="vertical-align:bottom;white-space:normal;width:0.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.35%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:10.19%;background:#cceeff;margin:0pt;padding:0pt;"> 31,297,967</td></tr></table>2. INVENTORY RESERVES<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:auto;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:normal;width:50%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:10.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:10.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:10.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:10.16%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:50%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.86%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:12.03%;margin:0pt;padding:0pt;">Balance at</td><td style="vertical-align:bottom;white-space:normal;width:1.08%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:10.16%;margin:0pt;padding:0pt;">Charged to</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:10.4%;margin:0pt;padding:0pt;">Deductions,</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:1.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:10.16%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:50%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.86%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:12.03%;margin:0pt;padding:0pt;">Beginning</td><td style="vertical-align:bottom;white-space:normal;width:1.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:10.16%;margin:0pt;padding:0pt;">Cost and</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:10.4%;margin:0pt;padding:0pt;">Shrinkage and</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:11.18%;margin:0pt;padding:0pt;">Balance at</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:50%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.86%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:12.03%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">of Period</td><td style="vertical-align:bottom;white-space:normal;width:1.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:10.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Expenses</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:10.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Obsolescence</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:11.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">End of Period</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:50%;background:#cceeff;margin:0pt;padding:0pt;">June 30, 2026</td><td style="vertical-align:bottom;white-space:normal;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:10.17%;background:#cceeff;margin:0pt;padding:0pt;"> 6,832,904</td><td style="vertical-align:bottom;white-space:normal;width:1.08%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:10.16%;background:#cceeff;margin:0pt;padding:0pt;"> 3,433,448</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:10.4%;background:#cceeff;margin:0pt;padding:0pt;"> 859,845</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.01%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:10.16%;background:#cceeff;margin:0pt;padding:0pt;"> 9,406,507</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:50%;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:normal;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.86%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:10.17%;margin:0pt;padding:0pt;"> 5,921,239</td><td style="vertical-align:bottom;white-space:normal;width:1.08%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:10.16%;margin:0pt;padding:0pt;"> 942,397</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:10.4%;margin:0pt;padding:0pt;"> 30,732</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.01%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:10.16%;margin:0pt;padding:0pt;"> 6,832,904</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:50%;background:#cceeff;margin:0pt;padding:0pt;">June 30, 2024</td><td style="vertical-align:bottom;white-space:normal;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:10.17%;background:#cceeff;margin:0pt;padding:0pt;"> 4,145,280</td><td style="vertical-align:bottom;white-space:normal;width:1.08%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:10.16%;background:#cceeff;margin:0pt;padding:0pt;"> 1,778,825</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:10.4%;background:#cceeff;margin:0pt;padding:0pt;"> 2,867</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.01%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:10.16%;background:#cceeff;margin:0pt;padding:0pt;"> 5,921,239</td></tr></table>3. COMPUTER RESERVE (1)<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:auto;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:normal;width:33.73%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:normal;width:3.17%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:normal;width:11.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:normal;width:1.58%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:normal;width:12.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:normal;width:1.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:normal;width:15.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:normal;width:1.25%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:normal;width:1.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:normal;width:14.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:33.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:3.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:11.37%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:12.98%;margin:0pt;padding:0pt;">Additions</td><td style="vertical-align:bottom;white-space:normal;width:1.82%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:15.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:14.82%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:33.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:3.17%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:13.37%;margin:0pt;padding:0pt;">Balance at</td><td style="vertical-align:bottom;white-space:normal;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:12.98%;margin:0pt;padding:0pt;">Charged to</td><td style="vertical-align:bottom;white-space:normal;width:1.82%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:15.4%;margin:0pt;padding:0pt;">Deductions,</td><td style="vertical-align:bottom;white-space:normal;width:1.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:14.82%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:33.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:3.17%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:13.37%;margin:0pt;padding:0pt;">Beginning</td><td style="vertical-align:bottom;white-space:normal;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:12.98%;margin:0pt;padding:0pt;">Cost and</td><td style="vertical-align:bottom;white-space:normal;width:1.82%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:15.4%;margin:0pt;padding:0pt;">Shrinkage and</td><td style="vertical-align:bottom;white-space:normal;width:1.25%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:16.66%;margin:0pt;padding:0pt;">Balance at</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:33.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:3.17%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:13.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">of Period</td><td style="vertical-align:bottom;white-space:normal;width:1.58%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:12.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Expenses</td><td style="vertical-align:bottom;white-space:normal;width:1.82%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:15.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Obsolescence</td><td style="vertical-align:bottom;white-space:normal;width:1.25%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:16.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">End of Period</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:33.73%;background:#cceeff;margin:0pt;padding:0pt;">June 30, 2026</td><td style="vertical-align:bottom;white-space:normal;width:3.17%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.99%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:11.37%;background:#cceeff;margin:0pt;padding:0pt;"> 3,274,432</td><td style="vertical-align:bottom;white-space:normal;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:12.98%;background:#cceeff;margin:0pt;padding:0pt;"> 3,091,844</td><td style="vertical-align:bottom;white-space:normal;width:1.82%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:15.4%;background:#cceeff;margin:0pt;padding:0pt;"> 1,037,764</td><td style="vertical-align:bottom;white-space:normal;width:1.25%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.84%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:14.82%;background:#cceeff;margin:0pt;padding:0pt;"> 5,328,512</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:33.73%;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:normal;width:3.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:11.37%;margin:0pt;padding:0pt;"> 1,786,225</td><td style="vertical-align:bottom;white-space:normal;width:1.58%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:12.98%;margin:0pt;padding:0pt;"> 2,499,889</td><td style="vertical-align:bottom;white-space:normal;width:1.82%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:15.4%;margin:0pt;padding:0pt;"> 1,011,682</td><td style="vertical-align:bottom;white-space:normal;width:1.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.84%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:14.82%;margin:0pt;padding:0pt;"> 3,274,432</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:33.73%;background:#cceeff;margin:0pt;padding:0pt;">June 30, 2024</td><td style="vertical-align:bottom;white-space:normal;width:3.17%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.99%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:11.37%;background:#cceeff;margin:0pt;padding:0pt;"> 1,345,832</td><td style="vertical-align:bottom;white-space:normal;width:1.58%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:12.98%;background:#cceeff;margin:0pt;padding:0pt;"> 1,129,323</td><td style="vertical-align:bottom;white-space:normal;width:1.82%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:15.4%;background:#cceeff;margin:0pt;padding:0pt;"> 688,930</td><td style="vertical-align:bottom;white-space:normal;width:1.25%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.84%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:14.82%;background:#cceeff;margin:0pt;padding:0pt;"> 1,786,225</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"></div></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">A reserve account is maintained against potential obsolescence of, and damage beyond economic repair to computers. The reserve is calculated based upon several factors, including historical percentages, the net book value and the remaining useful life. During fiscal years 2026, 2025 and 2024, certain computers were written off against the reserve.</td></tr></table><div style="margin-top:12pt;"></div>4. INCOME TAX VALUATION ALLOWANCE<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:auto;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:normal;width:53.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:9.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:9.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:9.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:9.46%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:53.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:1.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:9.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:9.46%;margin:0pt;padding:0pt;">Additions to</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:9.66%;margin:0pt;padding:0pt;">Deductions in</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:1.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:9.46%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:53.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:10.51%;margin:0pt;padding:0pt;">Balance at</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:9.46%;margin:0pt;padding:0pt;">Net Deferred</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:9.66%;margin:0pt;padding:0pt;">Net Deferred</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:9.46%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:53.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:10.51%;margin:0pt;padding:0pt;">Beginning</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:9.46%;margin:0pt;padding:0pt;">Tax Asset</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:9.66%;margin:0pt;padding:0pt;">Tax Asset</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:10.48%;margin:0pt;padding:0pt;">Balance at</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:53.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:10.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">of Period</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:9.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Allowance</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:9.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Allowance</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:normal;width:10.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">End of Period</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:53.33%;background:#cceeff;margin:0pt;padding:0pt;">June 30, 2026</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.01%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:9.49%;background:#cceeff;margin:0pt;padding:0pt;"> 7,627,642</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:9.46%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:9.66%;background:#cceeff;margin:0pt;padding:0pt;"> 211,881</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.01%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:9.46%;background:#cceeff;margin:0pt;padding:0pt;"> 7,415,761</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:53.33%;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.01%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:9.49%;margin:0pt;padding:0pt;"> 7,387,179</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:9.46%;margin:0pt;padding:0pt;"> 240,463</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:9.66%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.01%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:9.46%;margin:0pt;padding:0pt;"> 7,627,642</td></tr><tr style=""><td style="vertical-align:bottom;white-space:normal;width:53.33%;background:#cceeff;margin:0pt;padding:0pt;">June 30, 2024</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.01%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:9.49%;background:#cceeff;margin:0pt;padding:0pt;"> 6,790,724</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:9.46%;background:#cceeff;margin:0pt;padding:0pt;"> 596,455</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:normal;width:9.66%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:normal;width:1.63%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:normal;width:1.01%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:normal;width:9.46%;background:#cceeff;margin:0pt;padding:0pt;"> 7,387,179</td></tr></table>

31123755

16430560

16252780

31301535

31297967

15266692

15440904

31123755

30031273

22843961

21577267

31297967

6832904

3433448

859845

9406507

5921239

942397

30732

6832904

4145280

1778825

2867

5921239

3274432

3091844

1037764

5328512

1786225

2499889

1011682

3274432

1345832

1129323

688930

1786225

7627642

211881

7415761

7387179

240463

7627642

6790724

596455

7387179

false false false false true