v3.26.1
Restructuring (Tables)
 12 Months Ended
Jun. 30, 2026
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring Charges
As a result of the Restructuring Plans, the Company incurred the charges shown in the following table. Asset write-downs and write-offs are included within Impairment expense, Write-offs of inventory related to restructuring activities are included within Connected Fitness Products Cost of revenue, and the remaining charges incurred during the relevant periods are included within Restructuring expense, in the Consolidated Statements of Operations and Comprehensive Income (Loss):
Fiscal Year Ended June 30,
202620252024
Cash restructuring charges:(1)
(in millions)
Severance and other personnel costs(2)
$5.1 $23.4 $36.5 
Exit and disposal costs and professional fees(3)
11.9 9.6 19.2 
Total cash restructuring charges17.0 33.0 55.7 
Non-cash restructuring charges:(1)
Asset write-downs and write-offs(4)
11.6 21.1 40.8 
Stock-based compensation expense(5)
0.8 0.8 6.6 
Write-offs of inventory related to restructuring activities(6)
— — 1.0 
Loss on sale of subsidiary(7)
— — 3.8 
Total non-cash restructuring charges12.4 21.9 52.2 
Total$29.5 $54.9 $107.9 
____________________________
(1) All cash and non-cash restructuring charges for the fiscal year ended June 30, 2026 related to the 2025 Restructuring Plan.
(2) Includes $0.1 million and $23.2 million of severance and other personnel costs related to the 2024 Restructuring Plan and 2025 Restructuring Plan, respectively, for the fiscal year ended June 30, 2025. Includes $7.5 million and $29.0 million of severance and other personnel costs related to the 2022 Restructuring Plan and 2024 Restructuring Plan, respectively, for the fiscal year ended June 30, 2024.
(3) All charges for the fiscal year ended June 30, 2025 relate to the 2024 Restructuring Plan. Includes $16.1 million and $3.1 million of exit and disposal costs and professional fees related to the 2022 Restructuring Plan and 2024 Restructuring Plan, respectively, for the fiscal year ended June 30, 2024.
(4) All charges for the fiscal year ended June 30, 2025 relate to the 2024 Restructuring Plan. Includes $31.1 million and $9.7 million of asset write-downs and write-offs related to the 2022 Restructuring Plan and 2024 Restructuring Plan, respectively, for the fiscal year ended June 30, 2024.
(5) All charges for the fiscal year ended June 30, 2025 relate to the 2025 Restructuring Plan. Includes $7.2 million and $(0.6) million of stock-based compensation expense related to the 2022 Restructuring Plan and 2024 Restructuring Plan, respectively, for the fiscal year ended June 30, 2024.
(6) Includes write-offs of inventory related to the 2022 Restructuring Plan.
(7) Includes loss on sale of subsidiary recognized in connection with the 2022 Restructuring Plan.
Schedule of Restructuring Related Liabilities
The following table presents a roll-forward of cash restructuring-related liabilities, which are included within Accounts payable and accrued expenses in the Consolidated Balance Sheets:
Severance and other personnel costsExit and disposal costs and professional feesTotal
(in millions)
Balance as of June 30, 2023
$13.6 $0.3 $13.9 
Cash restructuring charges(1)
36.5 19.2 55.7 
Cash payments(37.4)(15.2)(52.6)
Balance as of June 30, 2024
$12.7 $4.3 $17.0 
_________________________
(1) Includes $7.5 million and $29.0 million of cash charges for severance and other personnel costs related to the 2022 Restructuring Plan and 2024 Restructuring Plan, respectively, and $16.1 million and $3.1 million of cash charges for exit and disposal costs and professional fees related to the 2022 Restructuring Plan and 2024 Restructuring Plan, respectively, for the fiscal year ended June 30, 2024.
Severance and other personnel costsExit and disposal costs and professional feesTotal
(in millions)
Balance as of June 30, 2024
$12.7 $4.3 $17.0 
Cash restructuring charges(2)
23.4 9.6 33.0 
Cash payments(12.3)(13.1)(25.4)
Balance as of June 30, 2025
$23.8 $0.8 $24.6 
_________________________
(2) Includes $0.1 million and $23.2 million of cash charges for severance and other personnel costs related to the 2024 Restructuring Plan and 2025 Restructuring Plan, respectively, and $9.6 million of cash charges for exit and disposal costs and professional fees related to the 2024 Restructuring Plan, for the fiscal year ended June 30, 2025.
Severance and other personnel costsExit and disposal costs and professional feesTotal
(in millions)
Balance as of June 30, 2025
$23.8 $0.8 $24.6 
Cash restructuring charges(3)
5.1 11.9 17.0 
Cash payments(22.2)(12.3)(34.5)
Balance as of June 30, 2026
$6.7 $0.5 $7.2 
_________________________
(3) All cash restructuring charges for the fiscal year ended June 30, 2026 related to the 2025 Restructuring Plan.