We have a supplier finance program managed through two global financial institutions under which we agree to pay the financial institutions the stated amount of confirmed invoices from our participating suppliers on the invoice due date. We, or the global financial institutions, may terminate our agreements at any time upon 30 days written notice. We do not provide any forms of guarantees under these agreements. Supplier participation in the program is solely up to the supplier. We have no economic interest in a supplier’s decision to participate in the program, and their participation has no bearing on our payment terms or amounts due. The payment terms that we have with our suppliers under this program are considered commercially reasonable. As of June 30, 2026 and 2025, the obligations outstanding that the Company has confirmed as valid to the financial institutions under the program were $96.8 million and $17.3 million, respectively, and were recorded within trade accounts payable. Obligations outstanding under the supplier finance program increased during 2026 primarily due to higher purchasing activity as well as an increase in the program capacity.


Year ended June 30 (in thousands)	2026
Confirmed obligations outstanding at the beginning of the year	$	17,306
Invoices confirmed during the year	170,103
Confirmed invoices paid during the year	(90,654)
Confirmed obligations outstanding at the end of the year	$	96,755