0001786352 2025-07-01 2026-06-30 0001786352 2025-12-31 0001786352 2026-08-13 0001786352 2026-06-30 0001786352 2025-06-30 0001786352 bill:SubscriptionAndTransactionFeesMember 2025-07-01 2026-06-30 0001786352 bill:SubscriptionAndTransactionFeesMember 2024-07-01 2025-06-30 0001786352 bill:SubscriptionAndTransactionFeesMember 2023-07-01 2024-06-30 0001786352 bill:InterestOnFundsHeldForCustomersMember 2025-07-01 2026-06-30 0001786352 bill:InterestOnFundsHeldForCustomersMember 2024-07-01 2025-06-30 0001786352 bill:InterestOnFundsHeldForCustomersMember 2023-07-01 2024-06-30 0001786352 2024-07-01 2025-06-30 0001786352 2023-07-01 2024-06-30 0001786352 us-gaap:SoftwareAndSoftwareDevelopmentCostsMember 2025-07-01 2026-06-30 0001786352 us-gaap:SoftwareAndSoftwareDevelopmentCostsMember 2024-07-01 2025-06-30 0001786352 us-gaap:SoftwareAndSoftwareDevelopmentCostsMember 2023-07-01 2024-06-30 0001786352 us-gaap:CommonStockMember 2023-06-30 0001786352 us-gaap:AdditionalPaidInCapitalMember 2023-06-30 0001786352 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-06-30 0001786352 us-gaap:RetainedEarningsMember 2023-06-30 0001786352 2023-06-30 0001786352 us-gaap:CommonStockMember 2023-07-01 2024-06-30 0001786352 us-gaap:AdditionalPaidInCapitalMember 2023-07-01 2024-06-30 0001786352 us-gaap:RetainedEarningsMember 2023-07-01 2024-06-30 0001786352 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-07-01 2024-06-30 0001786352 us-gaap:CommonStockMember 2024-06-30 0001786352 us-gaap:AdditionalPaidInCapitalMember 2024-06-30 0001786352 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-06-30 0001786352 us-gaap:RetainedEarningsMember 2024-06-30 0001786352 2024-06-30 0001786352 us-gaap:CommonStockMember 2024-07-01 2025-06-30 0001786352 us-gaap:AdditionalPaidInCapitalMember 2024-07-01 2025-06-30 0001786352 us-gaap:RetainedEarningsMember 2024-07-01 2025-06-30 0001786352 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-07-01 2025-06-30 0001786352 us-gaap:CommonStockMember 2025-06-30 0001786352 us-gaap:AdditionalPaidInCapitalMember 2025-06-30 0001786352 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-06-30 0001786352 us-gaap:RetainedEarningsMember 2025-06-30 0001786352 us-gaap:CommonStockMember 2025-07-01 2026-06-30 0001786352 us-gaap:AdditionalPaidInCapitalMember 2025-07-01 2026-06-30 0001786352 us-gaap:RetainedEarningsMember 2025-07-01 2026-06-30 0001786352 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-07-01 2026-06-30 0001786352 us-gaap:CommonStockMember 2026-06-30 0001786352 us-gaap:AdditionalPaidInCapitalMember 2026-06-30 0001786352 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2026-06-30 0001786352 us-gaap:RetainedEarningsMember 2026-06-30 0001786352 bill:TwoThousandThirtyConvertibleSeniorNotesMember 2024-12-06 0001786352 bill:TwoThousandThirtyConvertibleSeniorNotesMember 2024-12-06 2024-12-06 0001786352 bill:TwoThousandTwentyFiveConvertibleSeniorNotesMember 2024-12-06 2024-12-06 0001786352 bill:TwoThousandTwentySevenConvertibleSeniorNotesMember 2024-12-06 2024-12-06 0001786352 2024-12-06 2024-12-06 0001786352

us-gaap:GeneralAndAdministrativeExpense

2025-07-01 2026-06-30 0001786352

us-gaap:GeneralAndAdministrativeExpense

2024-07-01 2025-06-30 0001786352

us-gaap:GeneralAndAdministrativeExpense

2023-07-01 2024-06-30 0001786352 srt:MinimumMember 2026-06-30 0001786352 srt:MaximumMember 2026-06-30 0001786352 srt:MinimumMember us-gaap:RestrictedStockUnitsRSUMember 2025-07-01 2026-06-30 0001786352 srt:MaximumMember us-gaap:RestrictedStockUnitsRSUMember 2025-07-01 2026-06-30 0001786352 srt:MinimumMember bill:MarketBasedRestrictedStockUnitsMember 2025-07-01 2026-06-30 0001786352 srt:MaximumMember bill:MarketBasedRestrictedStockUnitsMember 2025-07-01 2026-06-30 0001786352 bill:AccountsPayableAndAccountsReceivableSolutionsMember 2025-07-01 2026-06-30 0001786352 bill:AccountsPayableAndAccountsReceivableSolutionsMember 2024-07-01 2025-06-30 0001786352 bill:AccountsPayableAndAccountsReceivableSolutionsMember 2023-07-01 2024-06-30 0001786352 bill:SpendAndExpenseInterchangeRevenueMember 2025-07-01 2026-06-30 0001786352 bill:SpendAndExpenseInterchangeRevenueMember 2024-07-01 2025-06-30 0001786352 bill:SpendAndExpenseInterchangeRevenueMember 2023-07-01 2024-06-30 0001786352 bill:IntegratedPlatformMember 2025-07-01 2026-06-30 0001786352 bill:IntegratedPlatformMember 2024-07-01 2025-06-30 0001786352 bill:IntegratedPlatformMember 2023-07-01 2024-06-30 0001786352 bill:EmbeddedAndOtherSolutionsMember 2025-07-01 2026-06-30 0001786352 bill:EmbeddedAndOtherSolutionsMember 2024-07-01 2025-06-30 0001786352 bill:EmbeddedAndOtherSolutionsMember 2023-07-01 2024-06-30 0001786352

2026-07-01

2026-06-30 0001786352

2027-07-01

2026-06-30 0001786352

2028-07-01

2026-06-30 0001786352 bill:DeferredSalesCommissionsMember 2026-06-30 0001786352 bill:DeferredSalesCommissionsMember 2025-06-30 0001786352 bill:DeferredServiceCostsMember 2026-06-30 0001786352 bill:DeferredServiceCostsMember 2025-06-30 0001786352 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel1Member 2026-06-30 0001786352 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel1Member 2025-06-30 0001786352 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member 2026-06-30 0001786352 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member 2025-06-30 0001786352 us-gaap:CertificatesOfDepositMember us-gaap:FairValueInputsLevel2Member 2026-06-30 0001786352 us-gaap:CertificatesOfDepositMember us-gaap:FairValueInputsLevel2Member 2025-06-30 0001786352 us-gaap:FairValueInputsLevel2Member us-gaap:CorporateDebtSecuritiesMember 2026-06-30 0001786352 us-gaap:FairValueInputsLevel2Member us-gaap:CorporateDebtSecuritiesMember 2025-06-30 0001786352 us-gaap:FairValueInputsLevel2Member us-gaap:USTreasurySecuritiesMember 2026-06-30 0001786352 us-gaap:FairValueInputsLevel2Member us-gaap:USTreasurySecuritiesMember 2025-06-30 0001786352 us-gaap:FairValueInputsLevel2Member us-gaap:AssetBackedSecuritiesMember 2026-06-30 0001786352 us-gaap:FairValueInputsLevel2Member us-gaap:AssetBackedSecuritiesMember 2025-06-30 0001786352 us-gaap:FairValueInputsLevel2Member us-gaap:CertificatesOfDepositMember 2026-06-30 0001786352 us-gaap:FairValueInputsLevel2Member us-gaap:CertificatesOfDepositMember 2025-06-30 0001786352 us-gaap:FairValueInputsLevel2Member us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2026-06-30 0001786352 us-gaap:FairValueInputsLevel2Member us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2025-06-30 0001786352 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel1Member bill:RestrictedCashEquivalentsMember 2026-06-30 0001786352 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel1Member bill:RestrictedCashEquivalentsMember 2025-06-30 0001786352 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member bill:RestrictedCashEquivalentsMember 2026-06-30 0001786352 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member bill:RestrictedCashEquivalentsMember 2025-06-30 0001786352 us-gaap:FairValueInputsLevel2Member us-gaap:MunicipalBondsMember 2026-06-30 0001786352 us-gaap:FairValueInputsLevel2Member us-gaap:MunicipalBondsMember 2025-06-30 0001786352 bill:TwoThousandTwentyFiveConvertibleSeniorNotesMember 2026-06-30 0001786352 bill:TwoThousandTwentyFiveConvertibleSeniorNotesMember us-gaap:FairValueInputsLevel2Member 2026-06-30 0001786352 bill:TwoThousandTwentyFiveConvertibleSeniorNotesMember us-gaap:FairValueInputsLevel2Member 2025-06-30 0001786352 bill:TwoThousandTwentySevenConvertibleSeniorNotesMember 2026-06-30 0001786352 bill:TwoThousandTwentySevenConvertibleSeniorNotesMember us-gaap:FairValueInputsLevel2Member 2026-06-30 0001786352 bill:TwoThousandTwentySevenConvertibleSeniorNotesMember us-gaap:FairValueInputsLevel2Member 2025-06-30 0001786352 bill:TwoThousandThirtyConvertibleSeniorNotesMember 2026-06-30 0001786352 bill:TwoThousandThirtyConvertibleSeniorNotesMember us-gaap:FairValueInputsLevel2Member 2026-06-30 0001786352 bill:TwoThousandThirtyConvertibleSeniorNotesMember us-gaap:FairValueInputsLevel2Member 2025-06-30 0001786352 bill:RestrictedCashMember 2026-06-30 0001786352 bill:RestrictedCashMember 2025-06-30 0001786352 bill:RestrictedCashEquivalentsMember 2026-06-30 0001786352 bill:RestrictedCashEquivalentsMember 2025-06-30 0001786352 bill:FundsReceivableMember 2026-06-30 0001786352 bill:FundsReceivableMember 2025-06-30 0001786352 bill:AvailableForSaleDebtSecuritiesMember 2026-06-30 0001786352 bill:AvailableForSaleDebtSecuritiesMember 2025-06-30 0001786352 us-gaap:CorporateDebtSecuritiesMember 2026-06-30 0001786352 us-gaap:USTreasurySecuritiesMember 2026-06-30 0001786352 us-gaap:AssetBackedSecuritiesMember 2026-06-30 0001786352 us-gaap:CertificatesOfDepositMember 2026-06-30 0001786352 us-gaap:MunicipalBondsMember 2026-06-30 0001786352 us-gaap:CorporateDebtSecuritiesMember 2025-06-30 0001786352 us-gaap:USTreasurySecuritiesMember 2025-06-30 0001786352 us-gaap:AssetBackedSecuritiesMember 2025-06-30 0001786352 us-gaap:CertificatesOfDepositMember 2025-06-30 0001786352 us-gaap:MunicipalBondsMember 2025-06-30 0001786352 bill:AccruedInterestReceivableMember 2026-06-30 0001786352 bill:AccruedInterestReceivableMember 2025-06-30 0001786352 us-gaap:FinancingReceivables1To29DaysPastDueMember 2026-06-30 0001786352 us-gaap:FinancingReceivables1To29DaysPastDueMember 2025-06-30 0001786352 us-gaap:FinancingReceivables30To59DaysPastDueMember 2026-06-30 0001786352 us-gaap:FinancingReceivables30To59DaysPastDueMember 2025-06-30 0001786352 us-gaap:FinancingReceivables60To89DaysPastDueMember 2026-06-30 0001786352 us-gaap:FinancingReceivables60To89DaysPastDueMember 2025-06-30 0001786352 bill:FinancingReceivables90To119DaysPastDueMember 2026-06-30 0001786352 bill:FinancingReceivables90To119DaysPastDueMember 2025-06-30 0001786352 bill:FinancingReceivablesEqualToGreaterThan119DaysPastDueMember 2026-06-30 0001786352 bill:FinancingReceivablesEqualToGreaterThan119DaysPastDueMember 2025-06-30 0001786352 bill:FinancialAsset90To119DaysPastDueMember 2026-06-30 0001786352 bill:FinancialAsset90To119DaysPastDueMember 2025-06-30 0001786352 bill:FinancialAssetOver120DaysPastDueMember 2026-06-30 0001786352 bill:FinancialAssetOver120DaysPastDueMember 2025-06-30 0001786352 bill:SoftwareAndEquipmentMember 2026-06-30 0001786352 bill:SoftwareAndEquipmentMember 2025-06-30 0001786352 us-gaap:SoftwareAndSoftwareDevelopmentCostsMember 2026-06-30 0001786352 us-gaap:SoftwareAndSoftwareDevelopmentCostsMember 2025-06-30 0001786352 us-gaap:FurnitureAndFixturesMember 2026-06-30 0001786352 us-gaap:FurnitureAndFixturesMember 2025-06-30 0001786352 us-gaap:LeaseholdImprovementsMember 2026-06-30 0001786352 us-gaap:LeaseholdImprovementsMember 2025-06-30 0001786352 us-gaap:CustomerRelationshipsMember 2026-06-30 0001786352 us-gaap:CustomerRelationshipsMember 2025-07-01 2026-06-30 0001786352 us-gaap:DevelopedTechnologyRightsMember 2026-06-30 0001786352 us-gaap:DevelopedTechnologyRightsMember 2025-07-01 2026-06-30 0001786352 us-gaap:CustomerRelationshipsMember 2025-06-30 0001786352 us-gaap:CustomerRelationshipsMember 2024-07-01 2025-06-30 0001786352 us-gaap:DevelopedTechnologyRightsMember 2025-06-30 0001786352 us-gaap:DevelopedTechnologyRightsMember 2024-07-01 2025-06-30 0001786352 us-gaap:TradeNamesMember 2025-06-30 0001786352 us-gaap:TradeNamesMember 2024-07-01 2025-06-30 0001786352

us-gaap:CostOfGoodsAndServicesSold

2025-07-01 2026-06-30 0001786352

us-gaap:CostOfGoodsAndServicesSold

2024-07-01 2025-06-30 0001786352

us-gaap:SellingAndMarketingExpense

2025-07-01 2026-06-30 0001786352

us-gaap:SellingAndMarketingExpense

2024-07-01 2025-06-30 0001786352 bill:TwoThousandTwentyFiveConvertibleSeniorNotesMember 2025-06-30 0001786352 bill:TwoThousandTwentySevenConvertibleSeniorNotesMember 2025-06-30 0001786352 bill:TwoThousandTwentySevenConvertibleSeniorNotesMember 2025-07-01 2026-06-30 0001786352 bill:TwoThousandTwentyOneRevolvingCreditAgreementMember us-gaap:LineOfCreditMember 2026-06-30 0001786352 bill:TwoThousandTwentyOneRevolvingCreditAgreementMember us-gaap:LineOfCreditMember 2025-06-30 0001786352 us-gaap:LineOfCreditMember 2026-06-30 0001786352 us-gaap:LineOfCreditMember 2025-06-30 0001786352 bill:TwoThousandThirtyConvertibleSeniorNotesMember 2025-06-30 0001786352 bill:TwoThousandThirtyConvertibleSeniorNotesMember 2025-07-01 2026-06-30 0001786352 bill:TwoThousandTwentyOneRevolvingCreditAgreementMember us-gaap:LineOfCreditMember 2025-07-01 2026-06-30 0001786352 bill:TwoThousandTwentyFiveRevolvingCreditAgreementMember us-gaap:LineOfCreditMember 2026-06-30 0001786352 bill:TwoThousandTwentyFiveRevolvingCreditAgreementMember us-gaap:LineOfCreditMember 2025-06-30 0001786352 bill:TwoThousandTwentyFiveRevolvingCreditAgreementMember us-gaap:LineOfCreditMember 2025-07-01 2026-06-30 0001786352 bill:TwoThousandTwentySevenConvertibleSeniorNotesMember 2021-09-24 0001786352 bill:TwoThousandTwentySevenConvertibleSeniorNotesMember 2021-09-24 2021-09-24 0001786352 2021-09-24 2021-09-24 0001786352 bill:TwoThousandTwentySevenConvertibleSeniorNotesMember 2024-12-06 0001786352 bill:TwoThousandTwentyFiveConvertibleSeniorNotesMember 2020-11-30 0001786352 bill:TwoThousandTwentyFiveConvertibleSeniorNotesMember 2020-11-30 2020-11-30 0001786352 bill:TwoThousandTwentyFiveConvertibleSeniorNotesMember 2024-03-06 0001786352 bill:TwoThousandTwentyFiveConvertibleSeniorNotesMember 2024-03-06 2024-03-06 0001786352 bill:TwoThousandTwentyFiveConvertibleSeniorNotesMember 2024-05-29 0001786352 bill:TwoThousandTwentyFiveConvertibleSeniorNotesMember 2024-05-29 2024-05-29 0001786352 bill:TwoThousandTwentyFiveConvertibleSeniorNotesMember 2024-12-06 0001786352 bill:TwoThousandTwentyFiveConvertibleSeniorNotesMember 2025-12-01 2025-12-01 0001786352 bill:TwoThousandTwentyOneRevolvingCreditAgreementMember 2025-10-28 2025-10-28 0001786352 bill:TwoThousandTwentyOneRevolvingCreditAgreementMember 2025-10-29 2025-10-29 0001786352 bill:TwoThousandTwentyOneRevolvingCreditAgreementMember 2021-03-31 0001786352 bill:TwoThousandTwentyOneRevolvingCreditAgreementMember 2026-06-30 0001786352 bill:TwoThousandTwentyFiveRevolvingCreditAgreementMember us-gaap:LineOfCreditMember 2025-05-01 2025-05-31 0001786352 bill:TwoThousandTwentyFiveRevolvingCreditAgreementMember us-gaap:LineOfCreditMember 2025-05-31 0001786352 bill:TwoThousandTwentyFiveRevolvingCreditAgreementMember us-gaap:LineOfCreditMember 2026-06-30 0001786352 bill:TwoThousandAndNineteenEquityIncentivePlanMember 2019-11-26 0001786352 bill:TwoThousandAndNineteenEquityIncentivePlanMember 2019-11-26 2019-11-26 0001786352 bill:EquityIncentivePlansMember 2026-06-30 0001786352 us-gaap:RestrictedStockUnitsRSUMember 2025-06-30 0001786352 us-gaap:RestrictedStockUnitsRSUMember 2025-07-01 2026-06-30 0001786352 us-gaap:RestrictedStockUnitsRSUMember 2026-06-30 0001786352 us-gaap:RestrictedStockUnitsRSUMember 2024-07-01 2025-06-30 0001786352 us-gaap:RestrictedStockUnitsRSUMember 2023-07-01 2024-06-30 0001786352 us-gaap:PerformanceSharesMember 2025-07-01 2026-06-30 0001786352 us-gaap:PerformanceSharesMember 2024-07-01 2025-06-30 0001786352 us-gaap:PerformanceSharesMember 2023-07-01 2024-06-30 0001786352 us-gaap:PerformanceSharesMember 2026-06-30 0001786352 us-gaap:StockCompensationPlanMember 2025-07-01 2026-06-30 0001786352 us-gaap:StockCompensationPlanMember 2024-07-01 2025-06-30 0001786352 us-gaap:StockCompensationPlanMember 2023-07-01 2024-06-30 0001786352 us-gaap:StockCompensationPlanMember 2026-06-30 0001786352 bill:MarketBasedRestrictedStockUnitsMember 2025-07-01 2026-06-30 0001786352 bill:MarketBasedRestrictedStockUnitsMember 2024-07-01 2025-06-30 0001786352 bill:MarketBasedRestrictedStockUnitsMember 2023-07-01 2024-06-30 0001786352 bill:MarketBasedRestrictedStockUnitsMember 2026-06-30 0001786352 us-gaap:EmployeeStockOptionMember 2025-07-01 2026-06-30 0001786352 us-gaap:EmployeeStockOptionMember 2024-07-01 2025-06-30 0001786352 us-gaap:EmployeeStockOptionMember 2023-07-01 2024-06-30 0001786352 us-gaap:EmployeeStockOptionMember 2026-06-30 0001786352 bill:SubscriptionAndTransactionFeesMember

us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax

2025-07-01 2026-06-30 0001786352 bill:SubscriptionAndTransactionFeesMember

us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax

2024-07-01 2025-06-30 0001786352 bill:SubscriptionAndTransactionFeesMember

us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax

2023-07-01 2024-06-30 0001786352

us-gaap:CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization

2025-07-01 2026-06-30 0001786352

us-gaap:CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization

2024-07-01 2025-06-30 0001786352

us-gaap:CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization

2023-07-01 2024-06-30 0001786352

us-gaap:ResearchAndDevelopmentExpense

2025-07-01 2026-06-30 0001786352

us-gaap:ResearchAndDevelopmentExpense

2024-07-01 2025-06-30 0001786352

us-gaap:ResearchAndDevelopmentExpense

2023-07-01 2024-06-30 0001786352

us-gaap:SellingAndMarketingExpense

2023-07-01 2024-06-30 0001786352

bill:RestructuringChargesAndOtherShareBasedCompensationExpense

2025-07-01 2026-06-30 0001786352

bill:RestructuringChargesAndOtherShareBasedCompensationExpense

2024-07-01 2025-06-30 0001786352

bill:RestructuringChargesAndOtherShareBasedCompensationExpense

2023-07-01 2024-06-30 0001786352 bill:January2023ShareRepurchaseProgramMember 2023-01-31 0001786352 bill:August2024ShareRepurchaseProgramMember 2024-08-31 0001786352 bill:August2025ShareRepurchaseProgramMember 2025-08-31 0001786352 bill:A2026ShareRepurchaseAuthorizationMember 2026-05-31 0001786352 bill:A2026ShareRepurchaseAuthorizationMember 2026-05-01 2026-05-31 0001786352 bill:January2023ShareRepurchaseProgramMember 2023-07-01 2024-06-30 0001786352 bill:January2023ShareRepurchaseProgramMember 2024-06-30 0001786352 bill:August2024ShareRepurchaseProgramMember 2024-07-01 2025-06-30 0001786352 bill:August2024ShareRepurchaseProgramMember 2025-06-30 0001786352 bill:August2024ShareRepurchaseProgramMember 2025-07-01 2026-06-30 0001786352 bill:August2024ShareRepurchaseProgramMember 2026-06-30 0001786352 bill:August2025ShareRepurchaseProgramMember 2025-07-01 2026-06-30 0001786352 bill:August2025ShareRepurchaseProgramMember 2026-06-30 0001786352 bill:A2026ShareRepurchaseAuthorizationMember 2025-07-01 2026-06-30 0001786352 bill:A2026ShareRepurchaseAuthorizationMember 2026-06-30 0001786352 bill:December2024ShareRepurchaseProgramMember 2024-12-31 0001786352 bill:December2024ShareRepurchaseProgramMember 2024-12-01 2024-12-31 0001786352 country:AU 2025-07-01 2026-06-30 0001786352 country:US 2025-07-01 2026-06-30 0001786352 us-gaap:DomesticCountryMember 2026-06-30 0001786352 us-gaap:StateAndLocalJurisdictionMember 2026-06-30 0001786352 2025-10-15 0001786352 2026-05-31 0001786352 us-gaap:EmployeeSeveranceMember 2025-06-30 0001786352 us-gaap:OtherRestructuringMember 2025-06-30 0001786352 us-gaap:EmployeeSeveranceMember 2025-07-01 2026-06-30 0001786352 us-gaap:OtherRestructuringMember 2025-07-01 2026-06-30 0001786352 us-gaap:EmployeeSeveranceMember 2026-06-30 0001786352 us-gaap:OtherRestructuringMember 2026-06-30 0001786352 us-gaap:StockCompensationPlanMember 2025-07-01 2026-06-30 0001786352 us-gaap:StockCompensationPlanMember 2024-07-01 2025-06-30 0001786352 us-gaap:StockCompensationPlanMember 2023-07-01 2024-06-30 0001786352 us-gaap:ConvertibleDebtSecuritiesMember 2025-07-01 2026-06-30 0001786352 us-gaap:ConvertibleDebtSecuritiesMember 2024-07-01 2025-06-30 0001786352 us-gaap:ConvertibleDebtSecuritiesMember 2023-07-01 2024-06-30 0001786352 srt:MaximumMember bill:TwoThousandTwentyFiveConvertibleSeniorNotesMember 2025-07-01 2026-06-30 0001786352 2026-04-01 2026-06-30 0001786352 bill:ReneLacerteMember 2026-04-01 2026-06-30 0001786352 bill:ReneLacerteMember 2026-06-30 0001786352 bill:RohiniJainMember 2026-04-01 2026-06-30 0001786352 bill:RohiniJainMember 2026-06-30 iso4217:USD shares iso4217:USD shares pure bill:segment bill:reportingUnit bill:position bill:Tradingday utr:Rate 0001786352 2026 FY false

P02Y

P03Y

P1Y

P2Y

http://fasb.org/us-gaap/2026#AvailableForSaleSecuritiesDebtSecuritiesCurrent

P5D P5D

http://fasb.org/us-gaap/2026#NonoperatingIncomeExpense

0.0083718

0.0024108

http://xbrl.sec.gov/country/2026#US

http://fasb.org/us-gaap/2026#AccruedLiabilitiesCurrent

http://www.bill.com/20260630#RestructuringChargesAndOtherShareBasedCompensationExpense

P468D P456D 10-K true 2026-06-30 --06-30 false 001-39149 BILL HOLDINGS, INC. DE 83-2661725 6220 America Center Drive, Suite 100 San Jose CA 95002 650 621-7700 Common Stock, $0.00001 par value BILL NYSE Yes No Yes Yes Large Accelerated Filer false false true false false 4800000000 85276782 <div style="margin-top:6pt;text-align:center">DOCUMENTS INCORPORATED BY REFERENCE</div><div style="margin-top:6pt">Portions of the Registrant’s definitive proxy statement for its 2026 Annual Meeting of Stockholders (Proxy Statement), to be filed within 120 days after the end of the fiscal year covered by this Annual Report on Form 10-K, are incorporated by reference in Part III. Except with respect to information specifically incorporated by reference in this Annual Report, the Proxy Statement shall not be deemed to be filed as part hereof.</div> <div style="margin-top:12pt;text-indent:36pt">Our management and board of directors recognize the critical importance of maintaining the trust and confidence of our customers, partners, and employees, including the importance of managing cybersecurity risks, and we have integrated these policies and procedures into our overall risk management systems and processes. While everyone at our company is expected to play a part in managing cybersecurity risks, our board of directors, as discussed in more detail under “—Governance” below, through delegation to a dedicated risk committee of the board of directors (the risk committee), and key members of our senior management team, are involved in the oversight of our information security program. Our information security program is based on recognized frameworks established by the National Institute of Standards and Technology, the International Organization for Standardization and other applicable industry standards, and is integrated into our overall enterprise risk management program. We utilize an overarching framework to address enterprise information security governance, which seeks to protect information assets and systems against attacks and incidents while establishing appropriate security as a priority for our information technology infrastructure and throughout the product development process. Our information security team, including a “red team” of dedicated engineers, and certain cross-functional employees routinely assess material risks from cybersecurity threats, and assess and update our cybersecurity risk management program in response to emerging trends and changes in our operations. We also engage third parties, including consultants and auditors, to evaluate the effectiveness of our risk management program, control environment, and cybersecurity practices through security audits, penetration testing, and other engagements.</div><div style="margin-top:12pt;text-indent:36pt">Our information security program is managed by our Chief Information Security Officer (CISO), who reports to our Chief Technology Officer and oversees a team responsible for leading enterprise-wide cybersecurity strategy, policy, standards, architecture, and processes. Our foundational security engineering, governance risk and compliance, product security and security operations teams report into our CISO and provide regular updates on significant or potentially significant threats and incidents. Our CISO has nearly 20 years of experience serving in information security roles in healthcare and technology companies.</div><div style="margin-top:12pt;text-indent:36pt">Our information security program includes an incident response program that coordinates activities across multiple teams in responding to cybersecurity incidents in accordance with a defined Incident Management Policy. This program is designed to detect, analyze, and escalate cybersecurity events, and includes a cybersecurity incident response team responsible for containment and recovery activities, and a crisis response team to liaise with business stakeholders, secure priority resources, and validate completion of any post-incident activities. In addition, we have established an executive security risk management committee composed of senior representatives of our legal, finance, information security, product, and marketing teams which meets on a quarterly basis to review our information security program and any noteworthy developments in the quarter. Finally, we coordinate internal simulations and tabletop exercises periodically to test our incident response processes and validate our readiness to respond to cybersecurity events.</div><div style="margin-top:12pt;text-indent:36pt">We maintain a risk-based approach to identifying and overseeing cybersecurity risks presented by third parties, including vendors, service providers and other external users of our systems, as well as the systems of </div><div style="margin-top:12pt">third parties that could adversely impact our business in the event of a cybersecurity incident affecting those third-party systems. We conduct initial due diligence on the cybersecurity profile of our vendors as they are onboarded and provide continuous monitoring of critical third-party infrastructure and monitor any known breaches of those third-party systems. We deploy technical safeguards that are designed to protect our information systems from cybersecurity threats, including firewalls, intrusion prevention and detection systems, anti-malware functionality and access controls, which are evaluated and improved through vulnerability assessments and cybersecurity threat intelligence. We also provide regular, mandatory training for our personnel regarding cybersecurity threats as a means to equip our personnel with effective tools to address cybersecurity threats and to communicate our evolving information security policies, standards, processes and practices.</div><div style="margin-top:12pt;text-indent:36pt">Although we are subject to ongoing and evolving cybersecurity threats, we are not aware of any risks from cybersecurity threats that have materially affected or are reasonably likely to materially affect us, including our business strategy, results of operations, or financial condition. If we or our partners were to experience a material cybersecurity incident in the future, such incident could have an adverse effect on our business operations, operating results, or financial condition. For more information regarding cybersecurity risks that we face and the related potential impacts on our business, see the risk factor titled “We, our partners, our customers, and others who use our services obtain and process a large amount of sensitive data. Any real or perceived improper or unauthorized use of, disclosure of, or access to such data could harm our reputation as a trusted brand and adversely affect our business, operating results, and financial condition.”</div> <div style="margin-top:12pt;text-indent:36pt">Our management and board of directors recognize the critical importance of maintaining the trust and confidence of our customers, partners, and employees, including the importance of managing cybersecurity risks, and we have integrated these policies and procedures into our overall risk management systems and processes. While everyone at our company is expected to play a part in managing cybersecurity risks, our board of directors, as discussed in more detail under “—Governance” below, through delegation to a dedicated risk committee of the board of directors (the risk committee), and key members of our senior management team, are involved in the oversight of our information security program. Our information security program is based on recognized frameworks established by the National Institute of Standards and Technology, the International Organization for Standardization and other applicable industry standards, and is integrated into our overall enterprise risk management program. We utilize an overarching framework to address enterprise information security governance, which seeks to protect information assets and systems against attacks and incidents while establishing appropriate security as a priority for our information technology infrastructure and throughout the product development process. Our information security team, including a “red team” of dedicated engineers, and certain cross-functional employees routinely assess material risks from cybersecurity threats, and assess and update our cybersecurity risk management program in response to emerging trends and changes in our operations. We also engage third parties, including consultants and auditors, to evaluate the effectiveness of our risk management program, control environment, and cybersecurity practices through security audits, penetration testing, and other engagements.</div> true true Our information security program is managed by our Chief Information Security Officer (CISO), who reports to our Chief Technology Officer and oversees a team responsible for leading enterprise-wide cybersecurity strategy, policy, standards, architecture, and processes. true Our CISO has nearly 20 years of experience serving in information security roles in healthcare and technology companies. true false <div style="margin-top:12pt;text-indent:36pt">In light of the critical importance of cybersecurity to our business, in the spring of 2023, our board of directors formed a standing cybersecurity committee. In early 2026, in light of the increasing convergence of cybersecurity risks with third-party, AI, compliance and other risks, we consolidated the incumbent cybersecurity committee with our standing compliance and payment operations risks subcommittee of the audit committee to create a standing board-level risk committee, with broad oversight responsibilities. The risk committee meets quarterly and is responsible for reviewing with management our cybersecurity and other information technology risks, including with respect to AI, our controls and processes, including the processes used to prevent or mitigate cybersecurity risks and respond to cybersecurity events, the materiality assessment framework for SEC disclosure purposes, among other risks, controls and processes. These reports include updates on our information security risks and threats, any notable incidents, escalations or third-party risks, the status of projects to strengthen our information security systems, assessments of the information security program, the emerging threat landscape and company security culture. The CISO provides reports at least quarterly to the risk committee as well as to our Chief Executive Officer, Chief Technology Officer, and other members of our senior management, as appropriate. The risk committee also receives quarterly updates from our legal department and third-party experts. Our risk committee provides regular updates to the board of directors on such reports, and coordinates with the audit committee of the board of directors with respect to any risks with implications for our financial reporting, accounting, internal controls or other matters presenting significant financial risk.</div><div style="margin-top:12pt;text-indent:36pt">Our information security program is regularly evaluated by internal and external parties with the results of certain reviews reported to senior management and the risk committee. We also actively engage with key vendors and industry participants as part of our continuing efforts to evaluate and enhance the effectiveness of our information security policies and procedures. Our risk committee will also receive prompt and timely information regarding any material cybersecurity threats or incidents, as well as ongoing updates regarding any such threat or incident until it has been mitigated, resolved, or otherwise addressed. To mitigate the impact of any cybersecurity incidents, we maintain cybersecurity insurance in amounts that we believe are appropriate for our business, which provides coverage for such incidents.</div> <div style="margin-top:12pt;text-indent:36pt">In light of the critical importance of cybersecurity to our business, in the spring of 2023, our board of directors formed a standing cybersecurity committee. In early 2026, in light of the increasing convergence of cybersecurity risks with third-party, AI, compliance and other risks, we consolidated the incumbent cybersecurity committee with our standing compliance and payment operations risks subcommittee of the audit committee to create a standing board-level risk committee, with broad oversight responsibilities. The risk committee meets quarterly and is responsible for reviewing with management our cybersecurity and other information technology risks, including with respect to AI, our controls and processes, including the processes used to prevent or mitigate cybersecurity risks and respond to cybersecurity events, the materiality assessment framework for SEC disclosure purposes, among other risks, controls and processes. These reports include updates on our information security risks and threats, any notable incidents, escalations or third-party risks, the status of projects to strengthen our information security systems, assessments of the information security program, the emerging threat landscape and company security culture. The CISO provides reports at least quarterly to the risk committee as well as to our Chief Executive Officer, Chief Technology Officer, and other members of our senior management, as appropriate. The risk committee also receives quarterly updates from our legal department and third-party experts. Our risk committee provides regular updates to the board of directors on such reports, and coordinates with the audit committee of the board of directors with respect to any risks with implications for our financial reporting, accounting, internal controls or other matters presenting significant financial risk.</div> The risk committee meets quarterly and is responsible for reviewing with management our cybersecurity and other information technology risks, including with respect to AI, our controls and processes, including the processes used to prevent or mitigate cybersecurity risks and respond to cybersecurity events, the materiality assessment framework for SEC disclosure purposes, among other risks, controls and processes. The CISO provides reports at least quarterly to the risk committee as well as to our Chief Executive Officer, Chief Technology Officer, and other members of our senior management, as appropriate. The risk committee also receives quarterly updates from our legal department and third-party experts. The CISO provides reports at least quarterly to the risk committee as well as to our Chief Executive Officer, Chief Technology Officer, and other members of our senior management, as appropriate. true 238 PricewaterhouseCoopers LLP San Jose, California

1031053000

1038346000

906456000

1180110000

30995000

32341000

13742000 15020000 811807000 685108000

302158000

258418000

4352633000

4044470000

7435102000

7238793000

47821000

56086000

144945000

116611000

162146000

222805000

2396509000

31616000

33178000

10218139000

10063982000

9637000

16293000

32930000

39581000

19377000

22435000

387259000

252455000

180005000

123057000

33421000

4352633000

4044470000

4924893000

4588660000

333000

285000

48468000

58372000

330000000

1383066000

1501044000

777000

1581000

6687537000

6149942000

0.00001

10000000

0.00001

500000000

92063000

103012000

2000

5626327000

5414645000

-6415000

10197000

-2089312000

-1510804000

3530602000

3914040000

10218139000

10063982000

1504749000

1300804000

1122733000

148411000

161766000

167439000

1653160000

1462570000

1290172000

265808000

229805000

189894000

49487000

42298000

44722000

315295000

272103000

234616000

1337865000

1190467000

1055556000

300571000

340059000

336754000

616211000

543711000

478540000

299410000

281913000

277662000

71056000 72749000 60105000

33169000

32637000

49072000

90895000 0 27587000

1411312000

1271069000

1229720000

-73447000

-80602000

-174164000

63316000

111012000

147845000

-10131000

30410000

-26319000

1110000

6611000

2559000

-11241000

23799000

-28878000

-0.11

0.23

-0.27

-0.11

-0.07

-0.27

99918000

103568000

106102000

99918000

103912000

106102000

33900000

14500000

9400000

-11241000

23799000

-28878000

-16612000

12087000

2598000

-27853000

35886000

-26280000

106550000

2000

4946623000

-4488000

-856168000

4085969000

2754000 13002000 13002000

225000

16495000

2883000

211902000

9657000 9657000

247260000

2598000

-28878000

106646000

2000

5233037000

-1890000

-1096948000

4134201000

2843000 8986000 8986000

270000

11553000

6747000

437655000

92960000 92960000

254029000

12087000

23799000

103012000

2000

5414645000

10197000

-1510804000

3914040000

2407000 -52671000 -52671000

332000

11921000

13688000

567267000

252432000

-16612000

-11241000

92063000

2000

5626327000

-6415000

-2089312000

3530602000

-11241000

23799000

-28878000

229778000

242532000

248375000

60659000

61925000

79956000

21997000

13010000

13838000

33896000 14508000 9369000

6434000

4739000

6238000

23893000

37000000

55062000

28238000 21215000 9209000

40550000

46654000

54588000 45708000 52221000 16468000 27041000 7884000 8265000 8164000 8642000

-124000

-395000

-1395000

-1418000

4458000

-69000

-3135000

26986000

6825000

-1167000

-8417000

-7528000

-5871000

8213000

-1125000

61190000

30222000

20992000

-9950000 -9412000 -9839000

-1084000

46000

-14580000

-3010000

1546000

-5564000

415832000

350644000

278771000

1617044000 2847736000 2682659000 1790861000 2214628000 2513646000

2868000

1041055000

798926000

359654000

1051637000

787513000

326172000

150032000 129439000 185486000

3334000

4335000

976000

57822000

33767000

19917000

1809000

2460000

500000

-28598000

-817390000

-409374000

1400000000

24006000

33463000

539403000

933187000

11442000

0 92960000 0

285549000

318683000

353964000

27125000 28517000 -17901000

560485000

430002000

211902000

150000000

45000000

811000 1721000 0

2945000

3701000

8114000

55616000

7840000

3862000

11921000

11553000

16495000

10762000

-172835000

666522000

-742599000

-50000

-290000

-240000

214349000

199486000

-873442000

3550884000

3351398000

4224840000

3765233000

3550884000

3351398000

1031053000

1038346000

985941000

137635000

101620000

174101000

3304000

4885000

5297000

2593241000 2406033000 2186059000

3765233000

3550884000

3351398000

18963000

13782000

12611000

1108000

6321000

5628000

3407000

5234000

906000

40397000 9213000 105406000 9998000 5000000 0 4437000 2653000 0 0 13125000 8750000

THE COMPANY AND ITS SIGNIFICANT ACCOUNTING POLICIES <div style="margin-top:12pt;text-indent:36pt">Bill.com, Inc. was incorporated in the State of Delaware in April 2006. Bill.com Holdings, Inc. was incorporated in the State of Delaware in August 2018 (and renamed BILL Holdings, Inc. in February 2023). In November 2018, Bill.com, Inc. consummated a reorganization with BILL Holdings, Inc., resulting in the latter becoming the parent entity of Bill.com, Inc. BILL Holdings, Inc. and its wholly-owned subsidiaries are collectively referred to as the “Company”.</div><div style="margin-top:12pt;text-indent:36pt">The Company is a provider of software and payments products for small and midsized businesses, designed to simplify, digitize, and automate back-office financial processes, including cloud-based payments, accounts payable, accounts receivable, and spend and expense management.</div><div style="margin-top:12pt">Offering of Convertible Notes</div><div style="margin-top:12pt;text-indent:36pt">On December 6, 2024, the Company issued $1.4 billion in aggregate principal amount of 0% convertible senior notes due 2030 (the 2030 Notes). The Company received $1.38 billion in net proceeds from the sale of the 2030 Notes, after deducting initial purchaser discounts and other offering costs. The Company used a portion of the net proceeds to pay the cost of capped call transactions in the amount of $93.0 million, to repurchase portions of its outstanding 2025 and 2027 convertible senior notes for $130.8 million and $408.6 million, respectively, and to repurchase $200.0 million of shares of its common stock.</div><div style="margin-top:12pt">Basis of Presentation and Principles of Consolidation</div><div style="margin-top:12pt;text-indent:36pt">The accompanying consolidated financial statements include the accounts of the Company and were prepared in conformity with U.S. generally accepted accounting principles (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC). All intercompany accounts and transactions have been eliminated.</div><div style="margin-top:12pt">Segment Reporting </div><div style="margin-top:12pt;text-indent:36pt">The Company operates as one operating segment because its chief operating decision maker (CODM), who is the Chief Executive Officer, reviews its financial information on a consolidated basis with net income (loss) as the primary measure of segment profitability for purposes of making decisions regarding allocating resources and assessing performance. The CODM uses this measure to evaluate the Company’s operational efficiency and profitability, make strategic capital allocation decisions, and assess progress against financial targets, and is regularly provided with financial results comparing actual performance to budgeted targets and prior periods. The CODM does not evaluate the performance of the operating segment using asset information.</div><div style="margin-top:12pt;text-indent:36pt">On a regular basis, the Company’s CODM is provided with significant segment expenses as reported within the consolidated statements of operations, adjusted for depreciation, amortization and restructuring, as presented in the consolidated statements of operations, stock-based compensation (refer to Note 10), amortization of debt issuance costs and gain on debt extinguishment (refer to Note 11). Other items included in the segment's profit or loss measure are interest income, interest expense (refer to Note 11) and provision for income taxes presented in the consolidated statements of operations and comprehensive income (loss). In addition, on a regular basis the CODM is also provided with rewards expense (see Note 1, Accrued Rewards) and losses from fraud. Losses from fraud, which are included in general and administrative, were $20.2 million, $16.5 million, and $16.5 million during each of the years ended June 30, 2026, 2025, and 2024, respectively.</div><div style="margin-top:12pt;text-indent:36pt">Total revenue from external customers outside of the U.S. was approximately 2% of consolidated total revenue during each of the years ended June 30, 2026, 2025, and 2024. </div><div style="margin-top:12pt">Reclassification</div><div style="margin-top:12pt;text-indent:36pt">Certain accounts in the prior period consolidated statements of cash flows were reclassified to conform with the current year presentation.</div><div>Use of Estimates</div><div style="margin-top:12pt;text-indent:36pt">The preparation of consolidated financial statements in conformity with GAAP requires management to make various estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and the accompanying notes. Management regularly assesses these estimates, including, but not limited to useful lives of long-lived assets; capitalization of internal-use software costs; the estimate of expected credit losses on accounts receivable, acquired card receivables, and loans held for investment; accrual for rewards; benefit periods used to amortize deferred costs; reserve for losses on funds held for customers; and valuation of deferred tax assets. The Company evaluates these estimates and assumptions and adjusts them accordingly. Actual results could differ from those estimates, and such differences may be material to the consolidated financial statements.</div><div style="margin-top:12pt">Funds Held for Customers and Customer Fund Deposits</div><div style="margin-top:12pt;text-indent:36pt">Funds held for customers and the corresponding liability on customer fund deposits represent funds that are collected from customers for payments to their suppliers and funds that are collected on behalf of customers. Generally, these funds held for customers are initially deposited in separate bank accounts until remitted to the customers’ suppliers or to the customers. Funds held for customers also include amounts that are held by or deposited into the accounts of payment processing companies and receivables from customers. The funds held for customers are restricted for the purpose of satisfying the customers’ fund obligations and are not available for general business use by the Company. The Company partially invests funds held for customers in highly liquid investments, which include money market funds and marketable debt securities with maturities of three months or less, as well as marketable debt securities with maturities ranging from three months up to thirty-seven months at the time of purchase based on the effective maturity date. Funds held for customers that are invested in marketable debt securities are classified as available-for-sale. These investments are carried at fair value, with unrealized gains or losses included in accumulated other comprehensive income (loss) on the consolidated balance sheets and as a component of the consolidated statements of comprehensive income (loss). The Company contractually earns interest on funds held for customers with associated counterparties. </div><div style="margin-top:12pt">Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents</div><div style="margin-top:12pt;text-indent:36pt">Cash and cash equivalents consist of cash in banks, and highly liquid investments with maturities of three months or less at the time of purchase.</div><div style="margin-top:12pt;text-indent:36pt">Restricted cash consists of (i) amounts restricted under deposit account control agreements, (ii) minimum cash balances that are required to be maintained by certain banks, (iii) cash collateral required by the Company’s lessors to satisfy letter of credit requirements under its lease agreements, (iv) cash collateral required by a bank in connection with the Company’s money transmission activities, and (v) cash in bank and cash deposits held by payment processing companies included in funds held for customers. </div><div style="margin-top:12pt;text-indent:36pt">Restricted cash equivalents consist of highly liquid investments with maturities of three months or less at the time of purchase that are included in funds held for customers. </div><div style="margin-top:12pt;text-indent:36pt">Except for the restricted cash included in funds held for customers, the current and non-current portion of the restricted cash is included in prepaid expenses and other current assets, and in other assets, respectively, in the accompanying consolidated balance sheets.</div><div style="margin-top:12pt">Short–term Investments</div><div style="margin-top:12pt;text-indent:36pt">The Company invests excess cash in a diversified portfolio of highly rated marketable debt securities with maturities of more than three months. These securities are classified as available-for-sale and recorded at fair value. The Company determines the appropriate classification of investments in marketable debt securities at the time of purchase and reevaluates such designation at each balance sheet date. After consideration of risk versus reward attributes and liquidity requirements, the Company may sell these debt securities prior to their stated maturities. Because the Company views these securities as available to support current operations, including those with maturities beyond 12 months, the Company classifies these securities as current assets in the accompanying consolidated balance sheets. Unrealized gains or losses are included in accumulated other comprehensive income (loss) on the consolidated balance sheets and as a component of the consolidated </div><div style="margin-top:12pt">statements of comprehensive income (loss). If the estimated fair value of an available-for-sale debt security is below its amortized cost basis, then the Company evaluates for impairment. The Company considers its intent to sell the security or whether it is more likely than not that it will be required to sell the security before recovery of its amortized basis. If either of these criteria is met, the debt security’s amortized cost basis is written down to fair value through other income, net in the consolidated statements of operations. If neither of these criteria is met, the Company evaluates whether unrealized losses have resulted from a credit loss or other factors. When a credit loss exists, the Company compares the present value of cash flows expected to be collected from the debt security with the amortized cost basis of the security to determine what allowance amount, if any, should be recorded. An impairment relating to credit losses is recorded through an allowance for credit losses reported in other income, net in the consolidated statements of operations. The allowance is limited by the amount that the fair value of the debt security is below its amortized cost basis.</div><div style="margin-top:12pt">Concentrations of Credit Risk </div><div style="margin-top:12pt;text-indent:36pt">Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents, restricted cash, restricted cash equivalents, short-term investments, accounts receivable, acquired card receivables and loans held for investment (collectively referred to as Financial Assets). The Company maintains its cash, cash equivalents, restricted cash, restricted cash equivalents and short-term investments with large multinational financial institutions that may at times exceed federally insured limits. Management believes that the financial institutions with which the Company does business are financially sound with minimal credit risk. Management further believes the associated risk of concentration for the Company’s investments is mitigated by holding a diversified portfolio of highly rated investments consisting of money market funds and short-term debt securities.</div><div style="margin-top:12pt;text-indent:36pt">The Company performs credit evaluations to verify the credit quality of its Financial Assets and determine any at-risk financial instruments. As of June 30, 2026 and 2025, the allowance for expected credit losses related to accounts receivable, acquired card receivables and loans held for investment totaled $28.3 million and $30.3 million, respectively.</div><div style="margin-top:12pt;text-indent:36pt">There were no customers that exceeded 10% of the Company’s total revenue during each of the years ended June 30, 2026, 2025, and 2024.</div><div style="margin-top:12pt">Foreign Currency </div>The functional currency of the Company's foreign subsidiary is the U.S. dollar, which is the Company's reporting currency. Gains and losses from the remeasurement of transactions denominated in foreign currencies other than the functional currency of the foreign subsidiary are included in other income, net in the accompanying statements of operations<div style="margin-top:12pt">Accounts Receivable and Unbilled Revenue </div><div style="margin-top:12pt;text-indent:36pt">Accounts receivable, which consist primarily of fees from customers, including accounting firm and financial institution customers, are recorded at the invoiced amount, net of an allowance for expected credit losses. Unbilled revenue is recorded based on amounts that the Company expects to invoice to customers in the subsequent period. The allowance for expected credit losses related to accounts receivable and unbilled revenue is based on the Company’s assessment of the collectability of the receivables. The Company regularly reviews the adequacy of the allowance for expected credit losses by considering the age of each outstanding invoice and the collection history of each customer to determine whether a specific allowance is appropriate. Accounts receivable deemed uncollectible are charged against the allowance for expected credit losses when identified. For all periods presented, the allowance for expected credit losses related to accounts receivable and unbilled revenue was not material.</div><div style="margin-top:12pt">Loans Held for Investment</div><div style="margin-top:12pt;text-indent:36pt">Loans held for investment represent funds advanced under either a term loan or line of credit agreement, through a partnership with a third-party bank (the Originating Bank Partner) in connection with the Company's invoice financing product, with each invoice financed having a repayment term of 12 months. The Company purchases loans or lines of credit draws from the Originating Bank Partner pursuant to the terms </div><div style="margin-top:12pt">outlined in the loan sale agreement between the Company and the Originating Bank Partner. The undrawn lines of credit are unconditionally cancellable. Loans that the Company has the intent and ability to hold for the foreseeable future or until maturity or payoff are classified as held for investment and are initially recognized at their purchase price and subsequently reported at amortized cost. The loans held for investment are recorded net of the allowance for expected credit losses. Loans held for investment are included in prepaid expenses and other current assets in the accompanying consolidated balance sheets.</div><div style="margin-top:12pt;text-indent:36pt">The Company accretes discount and interest income using the effective interest method over the life of the loan. Accretion of discount and interest income on these loans is included in subscription and transaction fees revenue in the accompanying consolidated statements of operations. </div><div style="margin-top:12pt;text-indent:36pt">Loans are considered past due if payment is not received on the scheduled payment due date. The Company places loans on nonaccrual status when they become 60 days past due and applies the modified cost recovery method to record payments received on nonaccrual assets. The allowance for expected credit losses reflects the Company’s estimate of uncollectible balances resulting from credit losses and is based on the determination of the amount of expected credit losses inherent in the loans held for investment balance as of the reporting date. An estimate of lifetime expected credit losses is performed by incorporating historical loss experience, as well as current and future economic conditions over a reasonable and supportable period beyond the reporting date. In estimating expected credit losses, the Company uses models that entail a significant amount of judgment. The primary area of judgment used in measuring the quantitative components of the Company’s reserves is the historical loss experience look-back period. The Company uses these models and assumptions to determine the reserve rates applicable to the outstanding loans held for investment balances to estimate reserves for expected credit losses. The Company’s models may include past loss experience and payment history to estimate the loss rates. Additionally, management evaluates whether to include qualitative reserves to cover credit losses that are expected but may not be adequately represented by the quantitative methodology or the economic assumptions. The qualitative reserves address possible limitations within the models or factors not included within the models, such as macroeconomic conditions, changes in underwriting strategies, the nature and volume of the portfolio, and the volume and severity of past due accounts. In general, loans held for investment are charged-off on or before the loan becomes 120 days delinquent. Assumptions regarding expected losses are reviewed periodically and may be impacted by actual performance of the loans receivable and changes in any of the factors discussed above.</div><div style="margin-top:12pt">Acquired Card Receivables </div><div style="margin-top:12pt;text-indent:36pt">The portfolio of acquired card receivables consists of U.S.-based commercial accounts diversified across various geographies and industries. The Company manages credit risk based on common risk characteristics including the financial condition of the users of the spend and expense management application. </div><div style="margin-top:12pt;text-indent:36pt">Acquired card receivables are reported at their principal amounts outstanding net of allowance for expected credit losses and represent a revolving line of credit. The undrawn lines of credit are unconditionally cancellable. Acquired card receivables are deemed to be held for investment when such receivables are not acquired specifically for resale. </div><div style="margin-top:12pt;text-indent:36pt">As part of the onboarding process, users of the Company’s free spend and expense management application are provided with a credit limit subject to a credit policy and underwriting process which is periodically re-performed based on risk indicators and the size of the credit limit. </div><div style="margin-top:12pt;text-indent:36pt">Spending businesses may over fund their accounts through payments in excess of the outstanding balance. Such over funded amounts are recorded as prepaid card deposits, which are included in other accruals and current liabilities in the accompanying consolidated balance sheets.</div><div style="margin-top:12pt;text-indent:36pt">Acquired card receivables represent amounts due on card transactions integrated with the spend and expense management application. The Company is contractually obligated to purchase a 100% participation interest in all card receivables from U.S.-based card issuing banks (Issuing Banks) including authorized transactions that have not cleared at the Issuing Banks. Acquired card receivables are recorded at the time a transaction clears at the Issuing Banks and generally payment for the card receivables is made on the day the transaction clears at the Issuing Banks.</div><div style="margin-top:12pt;text-indent:36pt">The acquired card receivables portfolio consists of a large group of smaller balances from spending businesses across a wide range of industries. The allowance for expected credit losses reflects the Company’s estimate of uncollectible balances resulting from credit losses and is based on the determination of the amount of expected credit losses inherent in the acquired card receivables as of the reporting date. An estimate of lifetime expected credit losses is performed by incorporating historical loss experience, as well as current and future economic conditions over a reasonable and supportable period beyond the balance sheet date. In estimating expected credit losses, the Company uses models that entail a significant amount of judgment. The primary areas of judgment used in measuring the quantitative components of the Company’s reserves relate to the attributes used to segment the portfolio, the determination of the historical loss experience look-back period, and the weighting of historical loss experience by monthly cohort. The Company uses these models and assumptions to determine the reserve rates applicable to the outstanding acquired card receivables balances to estimate reserves for expected credit losses. Based on historical loss experience, the probability of default varies by credit limit size, therefore it is incorporated as an attribute used to segment the portfolio. The Company’s models use past loss experience to estimate the probability of default and exposure at default by credit limit size and aged balances. The Company also estimates the likelihood and magnitude of recovery of previously charged-off loans based on historical recovery experience. Additionally, management evaluates whether to include qualitative reserves to cover credit losses that are expected but may not be adequately represented by the quantitative methodology or the economic assumptions. The qualitative reserves address possible limitations within the models or factors not included within the models, such as macroeconomic conditions, changes in underwriting strategies, the nature and volume of the portfolio, and the volume and severity of past due accounts. In general, acquired card receivables are charged-off after the balance becomes 120 days delinquent. Assumptions regarding expected losses are reviewed periodically and may be impacted by actual performance of the acquired card receivables and changes in any of the factors discussed above.</div><div style="margin-top:12pt">Property and Equipment</div><div style="margin-top:12pt;text-indent:36pt">Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the respective assets, generally two to three years. Leasehold improvements are amortized over the shorter of estimated useful lives of the assets or the lease term. Expenditures for repairs and maintenance are charged to expense as incurred. Upon disposition, the cost and related accumulated depreciation and amortization are removed from the accounts and the resulting gain or loss is reflected in the consolidated statements of operations.</div><div style="margin-top:12pt;text-indent:36pt">The Company capitalizes internal and external direct costs incurred related to obtaining or developing internal-use software. Costs incurred during the application development stage are capitalized and are amortized using the straight-line method over the estimated useful lives of the software, generally three years commencing on the first day of the month following when the software is ready for its intended use. Costs related to planning and other preliminary project activities and post-implementation activities are expensed as incurred.</div><div style="margin-top:12pt">Goodwill</div><div style="margin-top:12pt;text-indent:36pt">Goodwill represents the excess of the purchase price of the acquisition over the net fair value of identifiable assets acquired and liabilities assumed. Goodwill amounts are not amortized. The Company monitors goodwill for impairment on at least an annual basis, or more frequently if events or changes in circumstances indicate that the carrying value may not be recoverable. No triggering events indicating possible impairment were identified during the fiscal year or in any prior period. The Company continually evaluates its current and estimated future financial results, macroeconomic environment and industry-specific conditions, which are subject to many uncertainties, including the impact of tariffs, volatility related to changes in rates of inflation, interest rates, the strength of the U.S. dollar, geopolitical conflicts, and the potential for a slowing economy. These conditions, if sustained or exacerbated, could negatively impact the estimated fair value of the Company’s single reporting unit. As a result, the Company may be required to perform a quantitative goodwill impairment test in a future period, which could result in a non-cash impairment charge.</div><div style="margin-top:12pt">Intangible Assets</div><div style="margin-top:12pt;text-indent:36pt">The Company generally recognizes assets for customer relationships, developed technology and finite-lived trade names from an acquisition. Finite-lived intangible assets are carried at acquisition cost less accumulated amortization. Such amortization is recorded on a straight-line basis over the estimated useful lives of the respective assets, generally from three to ten years. Amortization for developed technology is recognized in cost of revenue. Amortization for customer relationships and trade names is recognized in sales and marketing expenses.</div><div style="margin-top:12pt">Impairment</div><div style="margin-top:12pt;text-indent:36pt">Goodwill is tested annually at the reporting unit level for impairment during the fourth fiscal quarter or more frequently if facts or changes in circumstances indicate the carrying amount of goodwill may not be recoverable. The Company has one reporting unit; therefore, all of its goodwill is associated with the entire company. Management has the option to first perform a qualitative assessment to determine whether it is more likely than not that the fair value of the Company is less than the carrying amount, including goodwill. If it is determined that it is more likely than not that the fair value of the Company is less than the carrying amount, a quantitative assessment is performed by comparing the fair value of a reporting unit with its carrying amount. An impairment charge is recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value, not to exceed the total amount of goodwill allocated to that reporting unit. The Company also has the option to bypass the qualitative assessment and perform the quantitative assessment.</div><div style="margin-top:12pt;text-indent:36pt">The Company reviews the valuation of long-lived assets, including property and equipment and finite-lived intangible assets, whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. The recoverability of long-lived assets or asset groups is calculated based on the estimated undiscounted future cash flows expected to result from the use and eventual disposition of the asset. Impairment testing is performed at the asset group level.</div><div style="margin-top:12pt;text-indent:36pt">Based on management's assessment, the Company did not recognize any impairment losses on its goodwill, finite-lived intangible assets or other long-lived assets during the periods presented herein.</div><div style="margin-top:12pt">Leases</div><div style="margin-top:12pt;text-indent:36pt">The Company determines if an arrangement is a lease, or contains a lease, by evaluating whether there is an identified asset and whether the Company controls the use of the identified asset throughout the period of use. The Company determines the classification of the lease, whether operating or financing, at the lease commencement date, which is the date the leased assets are made available for use. </div><div style="margin-top:12pt;text-indent:36pt">The Company uses the non-cancelable lease term when recognizing the right-of-use (ROU) assets and lease liabilities, unless it is reasonably certain that a renewal or termination option will be exercised. The Company accounts for lease components and non-lease components as a single lease component. Modifications are assessed to determine whether incremental differences result in new contract terms and accounted for as a new lease or whether the additional right of use should be included in the original lease and continue to be accounted with the remaining ROU asset.</div><div style="margin-top:12pt;text-indent:36pt">Operating lease ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of the lease payments over the lease term. Lease payments consist of the fixed payments under the arrangement, less any lease incentives. Variable costs, such as common area maintenance costs, are not included in the measurement of the ROU assets and lease liabilities, but are expensed as incurred. As the implicit rate of the leases is not determinable, the Company uses an incremental borrowing rate in determining the present value of the lease payments. Lease expenses are recognized on a straight-line basis over the lease term. </div><div style="margin-top:12pt;text-indent:36pt">The Company does not recognize ROU assets on lease arrangements with a term of 12 months or less. Lease expense for such arrangements is recognized on a straight-line basis over the term of the lease.</div><div style="margin-top:12pt">Convertible Senior Notes, net and Capped Calls</div><div style="margin-top:12pt;text-indent:36pt">Convertible senior notes, net are accounted for as a liability and measured at amortized cost. The carrying amount of the convertible senior notes is calculated as the proceeds at issuance, net of debt discounts and debt issuance costs. The difference between the principal amount and carrying amount is amortized to interest expense over the term of the convertible senior notes using the effective interest rate method and is included within other income, net in the consolidated statements of operations. </div><div style="margin-top:12pt;text-indent:36pt">The cost of capped calls executed in connection with the offering of the convertible senior notes is recorded as a reduction to additional paid-in capital in the consolidated statements of stockholders' equity (refer to Note 9 for further details on convertible senior notes and capped calls).</div><div style="margin-top:12pt">Accrued Rewards</div><div style="margin-top:12pt;text-indent:36pt">Spending businesses participate in rewards programs based on card transactions. The Company records a rewards liability that represents the estimated cost for rewards owed to spending businesses. Rewards liabilities are impacted over time by redemption costs and by spending businesses meeting eligibility requirements. Changes in the rewards liabilities during the period are recognized as an increase or decrease to sales and marketing expense in the accompanying consolidated statements of operations. The accrued rewards liability, which was $96.5 million and $87.6 million as of June 30, 2026 and 2025, respectively, is included in other accruals and current liabilities in the accompanying consolidated balance sheets. The rewards expense, which was $347.6 million, $272.0 million, and $219.8 million, during the years ended June 30, 2026, 2025, and 2024, respectively, is included in sales and marketing expenses in the accompanying consolidated statements of operations.</div><div style="margin-top:12pt">Revenue Recognition</div><div style="margin-top:12pt;text-indent:36pt">The Company enters into contracts with small and midsize businesses (SMB) and accounting firm customers to provide access to the functionality of the Company’s cloud-based payments platform to process transactions. These contracts are either monthly contracts paid in arrears, or annual arrangements paid up front. The Company charges its SMB and accounting firm customers subscription fees for access to its platform either based on the number of users or per customer account and the level of service. The Company generally also charges customers transaction fees based on transaction volume and the category of transaction. The contractual price for subscription and transaction services is based on either negotiated fees or the rates published on the Company’s website.</div><div style="margin-top:12pt;text-indent:36pt">The Company accounts for its annual and monthly contracts as a series of distinct services that are satisfied over time. Revenues recognized exclude amounts collected on behalf of third parties, such as sales taxes collected and remitted to governmental authorities.</div><div style="margin-top:12pt;text-indent:36pt">The Company enables SMB and accounting firm customers to make virtual card payments to their suppliers. The Company also facilitates the extension of credit to spending businesses through the BILL Spend and Expense product in the form of BILL Divvy Cards. The spending businesses utilize the credit on BILL Divvy Cards as a means of payment for goods and services provided by their suppliers. Virtual card payments and BILL Divvy Cards are originated through agreements with Issuing Banks. The agreements with the Issuing Banks allow for card transactions on the Mastercard and Visa networks. For each virtual card and BILL Divvy Card transaction, suppliers are required to pay interchange fees to the issuer of the card. Based on the Company's agreements with its Issuing Banks, the Company recognizes the interchange fees as revenue gross or net of fees paid to the Issuing Bank based on the Company's determination of whether it is the principal or agent under the agreements.</div><div style="margin-top:12pt;text-indent:36pt">The Company enters into multi-year contracts with financial institution customers to provide them with access to the Company’s cloud-based payments platform. These contracts typically include fees for initial implementation services that are paid during the period the implementation services are provided as well as fees for subscription and transaction processing services, which are subject to guaranteed minimum fees that are paid over the contract term. These contracts enable the financial institutions to provide their customers with access to online bill pay services through the financial institutions’ online platforms. Implementation services are required up-front to establish an infrastructure that allows the financial institutions’ online platforms to </div><div style="margin-top:12pt">communicate with the Company’s online platform. A financial institution’s customers cannot access online bill pay services until implementation is complete.</div><div style="margin-top:12pt;text-indent:36pt">Initial implementation services and transaction processing services are not capable of being distinct from the subscription for online bill pay services and are combined into a single performance obligation. The total consideration in these contracts varies based on the number of users and transactions to be processed. The Company has determined it meets the variable consideration allocation exception and therefore recognizes guaranteed monthly payments and any overages as revenue in the month they are earned. Implementation fees are recognized based on the proportion of transactions processed to the total estimated transactions to be processed over the contract period. The Company allocates revenue to each performance obligation based on its relative standalone selling price. </div><div style="margin-top:12pt">Interest on Funds Held for Customers</div><div style="margin-top:12pt;text-indent:36pt">The Company also earns revenue from interest earned on funds held for customers that are initially deposited into the Company’s bank accounts that are separate from the Company’s operating cash accounts until remitted to the customers or their suppliers. Interest and fees earned are recognized based on the effective interest method and also include the accretion of discounts and the amortization of premiums on marketable debt securities.</div><div style="margin-top:12pt">Deferred Revenue </div><div style="margin-top:12pt;text-indent:36pt">Subscription and transaction fees from customers for which the Company has annual or multi-year contracts are generally billed in advance. These fees are initially recorded as deferred revenue and subsequently recognized as revenue as the performance obligation is satisfied. </div><div style="margin-top:12pt">Deferred Costs</div><div style="margin-top:12pt;text-indent:36pt">Deferred costs consist of (i) deferred sales commissions that are incremental costs of obtaining customer contracts and (ii) deferred service costs, primarily direct payroll costs, for implementation services provided to customers prior to the launching of the Company’s products for general availability (go-live) to customers. Deferred sales commissions are amortized ratably over the estimated life of the customer relationship aligned with the pattern of customer attrition, taking into consideration the initial contract term and expected renewal periods. Deferred service costs are amortized ratably over the estimated benefit period of the capitalized costs starting on the go-live date of the service. </div><div style="margin-top:12pt">Service Costs </div><div style="margin-top:12pt;text-indent:36pt">Service costs consist primarily of costs that are directly attributed to processing customers’ and spending businesses' transactions (such as the cost of printing checks, postage for mailing checks, fees associated with the issuance and processing of card transactions, net of card network incentives, fees for processing payments), personnel-related costs, including stock-based compensation, for the Company’s customer success and payment operations teams, outsourced support services for the Company's customer success team, direct and amortized costs for implementing and integrating the Company’s cloud-based platform into the customers’ systems, and cloud payments infrastructure costs.</div><div style="margin-top:12pt">Research and Development</div><div style="margin-top:12pt;text-indent:36pt">Costs incurred in research and development, excluding development costs eligible for capitalization as internal-use software, are expensed as incurred. </div><div style="margin-top:12pt">Stock-based Compensation</div><div style="margin-top:12pt;text-indent:36pt">The Company measures stock-based compensation for purchase rights issued under the Employee Stock Purchase Plan (ESPP) at fair value on the date of grant using the Black-Scholes option-pricing model. The Company measures stock-based compensation for restricted stock units (RSUs) and market-based RSUs based on the closing price of the Company’s stock and using the Monte Carlo simulation model, respectively, on the date of grant. The Company measures stock-based compensation for performance-based awards at fair </div><div style="margin-top:12pt">value on the date of grant. Awards that are classified as liabilities are remeasured at fair value at the end of each reporting period.</div><div style="margin-top:12pt;text-indent:36pt">The Company recognizes stock-based compensation on a straight-line basis over the requisite service period of one to four years for RSUs, the offering period of one year for purchase rights under the ESPP, and the requisite period of one to three years for market-based RSUs. The Company recognizes compensation for performance-based awards over the vesting period if it is probable that the performance condition will be achieved. The Company accounts for forfeitures as they occur.</div><div style="margin-top:12pt">Advertising</div><div style="margin-top:12pt;text-indent:36pt">The Company expenses the costs of advertising, including promotional expenses, as incurred. Advertising expenses during the years ended June 30, 2026, 2025, and 2024 were $45.0 million, $47.2 million, and $43.6 million, respectively. </div><div style="margin-top:12pt">Income Taxes </div><div style="margin-top:12pt;text-indent:36pt">The Company accounts for income taxes using the asset and liability method, which requires the recognition of taxes payable or refundable for the current year and deferred income tax assets and liabilities for the future tax consequences of temporary differences between the financial statement carrying amounts and the tax basis of the Company's assets and liabilities, net operating loss (NOL), and tax credit carryforwards. A valuation allowance is established to reduce deferred tax assets to the amount expected to be realized. </div><div style="margin-top:12pt;text-indent:36pt">The Company accounts for uncertainty in income taxes using a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. The Company classifies any liabilities for unrecognized tax benefits as current to the extent that the Company anticipates payment (or receipt) of cash within one year. Interest and penalties related to uncertain tax positions are recognized in the provision for income taxes. </div><div style="margin-top:12pt">Net Income (Loss) Per Share Attributable to Common Stockholders</div><div style="margin-top:12pt;text-indent:36pt">Basic net income (loss) per share attributable to common stockholders is calculated by dividing the net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, without consideration of potentially dilutive securities. Diluted net income per share attributable to common stockholders is calculated by dividing net income by the weighted average number of common and dilutive common stock outstanding during the period, using the treasury stock and if-converted methods. Diluted net loss per share attributable to common stock equals basic net loss per share since the effect of potentially dilutive securities is anti-dilutive given the net loss of the Company in that period.</div><div style="margin-top:12pt">Restructuring</div><div style="margin-top:12pt;text-indent:36pt">Restructuring charges consist of severance, benefits, stock-based compensation, payroll taxes, costs related to contract terminations, and other related costs. The Company recognizes a liability for involuntary employee termination benefits pursuant to a mutually understood severance benefits plan when it is probable and the termination benefits are estimable. One-time involuntary termination benefits that are not provided under the ongoing severance benefits plan or enhancements to the ongoing severance benefits plan are not accrued until the terms of the benefit arrangement have been communicated to the affected employees. Other exit-related costs are recognized as incurred.</div><div style="margin-top:12pt">New Accounting Pronouncements and Disclosure Rules Recently Adopted </div><div style="margin-top:12pt;text-indent:36pt">In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands disclosures in an entity’s income tax rate reconciliation table and regarding cash taxes paid both in the U.S. and foreign jurisdictions. The Company adopted ASU 2023-09 beginning with its Annual Report on Form 10-K for </div><div style="margin-top:12pt">the fiscal year ended June 30, 2026 on a prospective basis. For additional information, see Note 12, Income Taxes.</div><div style="margin-top:12pt">New Accounting Pronouncements and Disclosure Rules Not Adopted</div><div style="margin-top:12pt;text-indent:36pt">In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses (Topic 220), which requires additional disclosures, for interim and annual reporting, of expenses by nature, such as employee compensation, depreciation and amortization, and selling expenses. The updated standard will be effective beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. This ASU will result in the required additional disclosures being included in the consolidated financial statements on a prospective basis, with the option for retrospective application, once adopted.</div><div style="margin-top:12pt;text-indent:36pt">In November 2024, the FASB issued ASU 2024-04, Induced Conversions of Convertible Debt Instruments (Topic 470), which clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. The amendments in this update are effective for all entities for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods. Early adoption is permitted for all entities that have adopted the amendments in ASU 2020-06. The Company does not expect the adoption of this standard to have a material impact on the consolidated financial statements.</div><div style="margin-top:12pt;text-indent:36pt">In July 2025, the FASB issued ASU 2025-05, Financial Instruments - Credit Losses (Topic 326). The guidance in ASU 2025-05 provides all entities with a practical expedient to assume that current conditions as of the balance sheet date do not change for the remaining life of current accounts receivable and contract assets. ASU 2025-05 is effective for fiscal years beginning after December 15, 2025 and interim reporting periods within those annual reporting periods. Early adoption is permitted. The Company does not expect this ASU to materially impact the consolidated financial statements.</div><div style="margin-top:12pt;text-indent:36pt">In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Topic 350). The amended guidance modernizes the accounting for costs related to internal-use software to more closely align with current software development methods. The guidance removes references to project stages and clarifies when the Company is required to start capitalizing eligible costs. ASU 2025-06 is effective for fiscal years beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. Early adoption is permitted. The guidance can be applied on a prospective basis, a modified basis for in-process projects, or a retrospective basis. The Company is evaluating the impact this amended guidance may have on its consolidated financial statements.</div>

<div style="margin-top:12pt">Offering of Convertible Notes</div><div style="margin-top:12pt;text-indent:36pt">On December 6, 2024, the Company issued $1.4 billion in aggregate principal amount of 0% convertible senior notes due 2030 (the 2030 Notes). The Company received $1.38 billion in net proceeds from the sale of the 2030 Notes, after deducting initial purchaser discounts and other offering costs. The Company used a portion of the net proceeds to pay the cost of capped call transactions in the amount of $93.0 million, to repurchase portions of its outstanding 2025 and 2027 convertible senior notes for $130.8 million and $408.6 million, respectively, and to repurchase $200.0 million of shares of its common stock.</div>

1400000000

1380000000

93000000.0

130800000

408600000

200000000.0

<div style="margin-top:12pt">Basis of Presentation and Principles of Consolidation</div><div style="margin-top:12pt;text-indent:36pt">The accompanying consolidated financial statements include the accounts of the Company and were prepared in conformity with U.S. generally accepted accounting principles (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC). All intercompany accounts and transactions have been eliminated.</div>

<div style="margin-top:12pt">Segment Reporting </div><div style="margin-top:12pt;text-indent:36pt">The Company operates as one operating segment because its chief operating decision maker (CODM), who is the Chief Executive Officer, reviews its financial information on a consolidated basis with net income (loss) as the primary measure of segment profitability for purposes of making decisions regarding allocating resources and assessing performance. The CODM uses this measure to evaluate the Company’s operational efficiency and profitability, make strategic capital allocation decisions, and assess progress against financial targets, and is regularly provided with financial results comparing actual performance to budgeted targets and prior periods. The CODM does not evaluate the performance of the operating segment using asset information.</div>

20200000 16500000 16500000 0.02 0.02 0.02

<div style="margin-top:12pt">Reclassification</div><div style="margin-top:12pt;text-indent:36pt">Certain accounts in the prior period consolidated statements of cash flows were reclassified to conform with the current year presentation.</div>

<div>Use of Estimates</div><div style="margin-top:12pt;text-indent:36pt">The preparation of consolidated financial statements in conformity with GAAP requires management to make various estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and the accompanying notes. Management regularly assesses these estimates, including, but not limited to useful lives of long-lived assets; capitalization of internal-use software costs; the estimate of expected credit losses on accounts receivable, acquired card receivables, and loans held for investment; accrual for rewards; benefit periods used to amortize deferred costs; reserve for losses on funds held for customers; and valuation of deferred tax assets. The Company evaluates these estimates and assumptions and adjusts them accordingly. Actual results could differ from those estimates, and such differences may be material to the consolidated financial statements.</div>

<div style="margin-top:12pt">Funds Held for Customers and Customer Fund Deposits</div>Funds held for customers and the corresponding liability on customer fund deposits represent funds that are collected from customers for payments to their suppliers and funds that are collected on behalf of customers. Generally, these funds held for customers are initially deposited in separate bank accounts until remitted to the customers’ suppliers or to the customers. Funds held for customers also include amounts that are held by or deposited into the accounts of payment processing companies and receivables from customers. The funds held for customers are restricted for the purpose of satisfying the customers’ fund obligations and are not available for general business use by the Company. The Company partially invests funds held for customers in highly liquid investments, which include money market funds and marketable debt securities with maturities of three months or less, as well as marketable debt securities with maturities ranging from three months up to thirty-seven months at the time of purchase based on the effective maturity date. Funds held for customers that are invested in marketable debt securities are classified as available-for-sale. These investments are carried at fair value, with unrealized gains or losses included in accumulated other comprehensive income (loss) on the consolidated balance sheets and as a component of the consolidated statements of comprehensive income (loss). The Company contractually earns interest on funds held for customers with associated counterparties. P3M P3M P37M

<div style="margin-top:12pt">Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents</div><div style="margin-top:12pt;text-indent:36pt">Cash and cash equivalents consist of cash in banks, and highly liquid investments with maturities of three months or less at the time of purchase.</div><div style="margin-top:12pt;text-indent:36pt">Restricted cash consists of (i) amounts restricted under deposit account control agreements, (ii) minimum cash balances that are required to be maintained by certain banks, (iii) cash collateral required by the Company’s lessors to satisfy letter of credit requirements under its lease agreements, (iv) cash collateral required by a bank in connection with the Company’s money transmission activities, and (v) cash in bank and cash deposits held by payment processing companies included in funds held for customers. </div><div style="margin-top:12pt;text-indent:36pt">Restricted cash equivalents consist of highly liquid investments with maturities of three months or less at the time of purchase that are included in funds held for customers. </div><div style="margin-top:12pt;text-indent:36pt">Except for the restricted cash included in funds held for customers, the current and non-current portion of the restricted cash is included in prepaid expenses and other current assets, and in other assets, respectively, in the accompanying consolidated balance sheets.</div>

<div style="margin-top:12pt">Short–term Investments</div><div style="margin-top:12pt;text-indent:36pt">The Company invests excess cash in a diversified portfolio of highly rated marketable debt securities with maturities of more than three months. These securities are classified as available-for-sale and recorded at fair value. The Company determines the appropriate classification of investments in marketable debt securities at the time of purchase and reevaluates such designation at each balance sheet date. After consideration of risk versus reward attributes and liquidity requirements, the Company may sell these debt securities prior to their stated maturities. Because the Company views these securities as available to support current operations, including those with maturities beyond 12 months, the Company classifies these securities as current assets in the accompanying consolidated balance sheets. Unrealized gains or losses are included in accumulated other comprehensive income (loss) on the consolidated balance sheets and as a component of the consolidated </div><div style="margin-top:12pt">statements of comprehensive income (loss). If the estimated fair value of an available-for-sale debt security is below its amortized cost basis, then the Company evaluates for impairment. The Company considers its intent to sell the security or whether it is more likely than not that it will be required to sell the security before recovery of its amortized basis. If either of these criteria is met, the debt security’s amortized cost basis is written down to fair value through other income, net in the consolidated statements of operations. If neither of these criteria is met, the Company evaluates whether unrealized losses have resulted from a credit loss or other factors. When a credit loss exists, the Company compares the present value of cash flows expected to be collected from the debt security with the amortized cost basis of the security to determine what allowance amount, if any, should be recorded. An impairment relating to credit losses is recorded through an allowance for credit losses reported in other income, net in the consolidated statements of operations. The allowance is limited by the amount that the fair value of the debt security is below its amortized cost basis.</div>

<div style="margin-top:12pt">Concentrations of Credit Risk </div>Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents, restricted cash, restricted cash equivalents, short-term investments, accounts receivable, acquired card receivables and loans held for investment (collectively referred to as Financial Assets). The Company maintains its cash, cash equivalents, restricted cash, restricted cash equivalents and short-term investments with large multinational financial institutions that may at times exceed federally insured limits. Management believes that the financial institutions with which the Company does business are financially sound with minimal credit risk. Management further believes the associated risk of concentration for the Company’s investments is mitigated by holding a diversified portfolio of highly rated investments consisting of money market funds and short-term debt securities

28300000 30300000

<div style="margin-top:12pt">Foreign Currency </div>The functional currency of the Company's foreign subsidiary is the U.S. dollar, which is the Company's reporting currency. Gains and losses from the remeasurement of transactions denominated in foreign currencies other than the functional currency of the foreign subsidiary are included in other income, net in the accompanying statements of operations

<div style="margin-top:12pt">Accounts Receivable and Unbilled Revenue </div><div style="margin-top:12pt;text-indent:36pt">Accounts receivable, which consist primarily of fees from customers, including accounting firm and financial institution customers, are recorded at the invoiced amount, net of an allowance for expected credit losses. Unbilled revenue is recorded based on amounts that the Company expects to invoice to customers in the subsequent period. The allowance for expected credit losses related to accounts receivable and unbilled revenue is based on the Company’s assessment of the collectability of the receivables. The Company regularly reviews the adequacy of the allowance for expected credit losses by considering the age of each outstanding invoice and the collection history of each customer to determine whether a specific allowance is appropriate. Accounts receivable deemed uncollectible are charged against the allowance for expected credit losses when identified. For all periods presented, the allowance for expected credit losses related to accounts receivable and unbilled revenue was not material.</div>

<div style="margin-top:12pt">Loans Held for Investment</div><div style="margin-top:12pt;text-indent:36pt">Loans held for investment represent funds advanced under either a term loan or line of credit agreement, through a partnership with a third-party bank (the Originating Bank Partner) in connection with the Company's invoice financing product, with each invoice financed having a repayment term of 12 months. The Company purchases loans or lines of credit draws from the Originating Bank Partner pursuant to the terms </div><div style="margin-top:12pt">outlined in the loan sale agreement between the Company and the Originating Bank Partner. The undrawn lines of credit are unconditionally cancellable. Loans that the Company has the intent and ability to hold for the foreseeable future or until maturity or payoff are classified as held for investment and are initially recognized at their purchase price and subsequently reported at amortized cost. The loans held for investment are recorded net of the allowance for expected credit losses. Loans held for investment are included in prepaid expenses and other current assets in the accompanying consolidated balance sheets.</div><div style="margin-top:12pt;text-indent:36pt">The Company accretes discount and interest income using the effective interest method over the life of the loan. Accretion of discount and interest income on these loans is included in subscription and transaction fees revenue in the accompanying consolidated statements of operations. </div><div style="margin-top:12pt;text-indent:36pt">Loans are considered past due if payment is not received on the scheduled payment due date. The Company places loans on nonaccrual status when they become 60 days past due and applies the modified cost recovery method to record payments received on nonaccrual assets. The allowance for expected credit losses reflects the Company’s estimate of uncollectible balances resulting from credit losses and is based on the determination of the amount of expected credit losses inherent in the loans held for investment balance as of the reporting date. An estimate of lifetime expected credit losses is performed by incorporating historical loss experience, as well as current and future economic conditions over a reasonable and supportable period beyond the reporting date. In estimating expected credit losses, the Company uses models that entail a significant amount of judgment. The primary area of judgment used in measuring the quantitative components of the Company’s reserves is the historical loss experience look-back period. The Company uses these models and assumptions to determine the reserve rates applicable to the outstanding loans held for investment balances to estimate reserves for expected credit losses. The Company’s models may include past loss experience and payment history to estimate the loss rates. Additionally, management evaluates whether to include qualitative reserves to cover credit losses that are expected but may not be adequately represented by the quantitative methodology or the economic assumptions. The qualitative reserves address possible limitations within the models or factors not included within the models, such as macroeconomic conditions, changes in underwriting strategies, the nature and volume of the portfolio, and the volume and severity of past due accounts. In general, loans held for investment are charged-off on or before the loan becomes 120 days delinquent. Assumptions regarding expected losses are reviewed periodically and may be impacted by actual performance of the loans receivable and changes in any of the factors discussed above.</div>

<div style="margin-top:12pt">Acquired Card Receivables </div><div style="margin-top:12pt;text-indent:36pt">The portfolio of acquired card receivables consists of U.S.-based commercial accounts diversified across various geographies and industries. The Company manages credit risk based on common risk characteristics including the financial condition of the users of the spend and expense management application. </div><div style="margin-top:12pt;text-indent:36pt">Acquired card receivables are reported at their principal amounts outstanding net of allowance for expected credit losses and represent a revolving line of credit. The undrawn lines of credit are unconditionally cancellable. Acquired card receivables are deemed to be held for investment when such receivables are not acquired specifically for resale. </div><div style="margin-top:12pt;text-indent:36pt">As part of the onboarding process, users of the Company’s free spend and expense management application are provided with a credit limit subject to a credit policy and underwriting process which is periodically re-performed based on risk indicators and the size of the credit limit. </div><div style="margin-top:12pt;text-indent:36pt">Spending businesses may over fund their accounts through payments in excess of the outstanding balance. Such over funded amounts are recorded as prepaid card deposits, which are included in other accruals and current liabilities in the accompanying consolidated balance sheets.</div><div style="margin-top:12pt;text-indent:36pt">Acquired card receivables represent amounts due on card transactions integrated with the spend and expense management application. The Company is contractually obligated to purchase a 100% participation interest in all card receivables from U.S.-based card issuing banks (Issuing Banks) including authorized transactions that have not cleared at the Issuing Banks. Acquired card receivables are recorded at the time a transaction clears at the Issuing Banks and generally payment for the card receivables is made on the day the transaction clears at the Issuing Banks.</div><div style="margin-top:12pt;text-indent:36pt">The acquired card receivables portfolio consists of a large group of smaller balances from spending businesses across a wide range of industries. The allowance for expected credit losses reflects the Company’s estimate of uncollectible balances resulting from credit losses and is based on the determination of the amount of expected credit losses inherent in the acquired card receivables as of the reporting date. An estimate of lifetime expected credit losses is performed by incorporating historical loss experience, as well as current and future economic conditions over a reasonable and supportable period beyond the balance sheet date. In estimating expected credit losses, the Company uses models that entail a significant amount of judgment. The primary areas of judgment used in measuring the quantitative components of the Company’s reserves relate to the attributes used to segment the portfolio, the determination of the historical loss experience look-back period, and the weighting of historical loss experience by monthly cohort. The Company uses these models and assumptions to determine the reserve rates applicable to the outstanding acquired card receivables balances to estimate reserves for expected credit losses. Based on historical loss experience, the probability of default varies by credit limit size, therefore it is incorporated as an attribute used to segment the portfolio. The Company’s models use past loss experience to estimate the probability of default and exposure at default by credit limit size and aged balances. The Company also estimates the likelihood and magnitude of recovery of previously charged-off loans based on historical recovery experience. Additionally, management evaluates whether to include qualitative reserves to cover credit losses that are expected but may not be adequately represented by the quantitative methodology or the economic assumptions. The qualitative reserves address possible limitations within the models or factors not included within the models, such as macroeconomic conditions, changes in underwriting strategies, the nature and volume of the portfolio, and the volume and severity of past due accounts. In general, acquired card receivables are charged-off after the balance becomes 120 days delinquent. Assumptions regarding expected losses are reviewed periodically and may be impacted by actual performance of the acquired card receivables and changes in any of the factors discussed above.</div> 1 P120D

<div style="margin-top:12pt">Property and Equipment</div><div style="margin-top:12pt;text-indent:36pt">Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the respective assets, generally two to three years. Leasehold improvements are amortized over the shorter of estimated useful lives of the assets or the lease term. Expenditures for repairs and maintenance are charged to expense as incurred. Upon disposition, the cost and related accumulated depreciation and amortization are removed from the accounts and the resulting gain or loss is reflected in the consolidated statements of operations.</div><div style="margin-top:12pt;text-indent:36pt">The Company capitalizes internal and external direct costs incurred related to obtaining or developing internal-use software. Costs incurred during the application development stage are capitalized and are amortized using the straight-line method over the estimated useful lives of the software, generally three years commencing on the first day of the month following when the software is ready for its intended use. Costs related to planning and other preliminary project activities and post-implementation activities are expensed as incurred.</div>

P3Y

<div style="margin-top:12pt">Goodwill</div><div style="margin-top:12pt;text-indent:36pt">Goodwill represents the excess of the purchase price of the acquisition over the net fair value of identifiable assets acquired and liabilities assumed. Goodwill amounts are not amortized. The Company monitors goodwill for impairment on at least an annual basis, or more frequently if events or changes in circumstances indicate that the carrying value may not be recoverable. No triggering events indicating possible impairment were identified during the fiscal year or in any prior period. The Company continually evaluates its current and estimated future financial results, macroeconomic environment and industry-specific conditions, which are subject to many uncertainties, including the impact of tariffs, volatility related to changes in rates of inflation, interest rates, the strength of the U.S. dollar, geopolitical conflicts, and the potential for a slowing economy. These conditions, if sustained or exacerbated, could negatively impact the estimated fair value of the Company’s single reporting unit. As a result, the Company may be required to perform a quantitative goodwill impairment test in a future period, which could result in a non-cash impairment charge.</div>

<div style="margin-top:12pt">Intangible Assets</div><div style="margin-top:12pt;text-indent:36pt">The Company generally recognizes assets for customer relationships, developed technology and finite-lived trade names from an acquisition. Finite-lived intangible assets are carried at acquisition cost less accumulated amortization. Such amortization is recorded on a straight-line basis over the estimated useful lives of the respective assets, generally from three to ten years. Amortization for developed technology is recognized in cost of revenue. Amortization for customer relationships and trade names is recognized in sales and marketing expenses.</div>

P10Y

<div style="margin-top:12pt">Impairment</div><div style="margin-top:12pt;text-indent:36pt">Goodwill is tested annually at the reporting unit level for impairment during the fourth fiscal quarter or more frequently if facts or changes in circumstances indicate the carrying amount of goodwill may not be recoverable. The Company has one reporting unit; therefore, all of its goodwill is associated with the entire company. Management has the option to first perform a qualitative assessment to determine whether it is more likely than not that the fair value of the Company is less than the carrying amount, including goodwill. If it is determined that it is more likely than not that the fair value of the Company is less than the carrying amount, a quantitative assessment is performed by comparing the fair value of a reporting unit with its carrying amount. An impairment charge is recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value, not to exceed the total amount of goodwill allocated to that reporting unit. The Company also has the option to bypass the qualitative assessment and perform the quantitative assessment.</div><div style="margin-top:12pt;text-indent:36pt">The Company reviews the valuation of long-lived assets, including property and equipment and finite-lived intangible assets, whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. The recoverability of long-lived assets or asset groups is calculated based on the estimated undiscounted future cash flows expected to result from the use and eventual disposition of the asset. Impairment testing is performed at the asset group level.</div><div style="margin-top:12pt;text-indent:36pt">Based on management's assessment, the Company did not recognize any impairment losses on its goodwill, finite-lived intangible assets or other long-lived assets during the periods presented herein.</div>

<div style="margin-top:12pt">Leases</div><div style="margin-top:12pt;text-indent:36pt">The Company determines if an arrangement is a lease, or contains a lease, by evaluating whether there is an identified asset and whether the Company controls the use of the identified asset throughout the period of use. The Company determines the classification of the lease, whether operating or financing, at the lease commencement date, which is the date the leased assets are made available for use. </div><div style="margin-top:12pt;text-indent:36pt">The Company uses the non-cancelable lease term when recognizing the right-of-use (ROU) assets and lease liabilities, unless it is reasonably certain that a renewal or termination option will be exercised. The Company accounts for lease components and non-lease components as a single lease component. Modifications are assessed to determine whether incremental differences result in new contract terms and accounted for as a new lease or whether the additional right of use should be included in the original lease and continue to be accounted with the remaining ROU asset.</div><div style="margin-top:12pt;text-indent:36pt">Operating lease ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of the lease payments over the lease term. Lease payments consist of the fixed payments under the arrangement, less any lease incentives. Variable costs, such as common area maintenance costs, are not included in the measurement of the ROU assets and lease liabilities, but are expensed as incurred. As the implicit rate of the leases is not determinable, the Company uses an incremental borrowing rate in determining the present value of the lease payments. Lease expenses are recognized on a straight-line basis over the lease term. </div><div style="margin-top:12pt;text-indent:36pt">The Company does not recognize ROU assets on lease arrangements with a term of 12 months or less. Lease expense for such arrangements is recognized on a straight-line basis over the term of the lease.</div>

P12M

<div style="margin-top:12pt">Convertible Senior Notes, net and Capped Calls</div><div style="margin-top:12pt;text-indent:36pt">Convertible senior notes, net are accounted for as a liability and measured at amortized cost. The carrying amount of the convertible senior notes is calculated as the proceeds at issuance, net of debt discounts and debt issuance costs. The difference between the principal amount and carrying amount is amortized to interest expense over the term of the convertible senior notes using the effective interest rate method and is included within other income, net in the consolidated statements of operations. </div><div style="margin-top:12pt;text-indent:36pt">The cost of capped calls executed in connection with the offering of the convertible senior notes is recorded as a reduction to additional paid-in capital in the consolidated statements of stockholders' equity (refer to Note 9 for further details on convertible senior notes and capped calls).</div>

<div style="margin-top:12pt">Accrued Rewards</div><div style="margin-top:12pt;text-indent:36pt">Spending businesses participate in rewards programs based on card transactions. The Company records a rewards liability that represents the estimated cost for rewards owed to spending businesses. Rewards liabilities are impacted over time by redemption costs and by spending businesses meeting eligibility requirements. Changes in the rewards liabilities during the period are recognized as an increase or decrease to sales and marketing expense in the accompanying consolidated statements of operations. The accrued rewards liability, which was $96.5 million and $87.6 million as of June 30, 2026 and 2025, respectively, is included in other accruals and current liabilities in the accompanying consolidated balance sheets. The rewards expense, which was $347.6 million, $272.0 million, and $219.8 million, during the years ended June 30, 2026, 2025, and 2024, respectively, is included in sales and marketing expenses in the accompanying consolidated statements of operations.</div> 96500000 87600000 347600000 272000000.0 219800000

<div style="margin-top:12pt">Revenue Recognition</div><div style="margin-top:12pt;text-indent:36pt">The Company enters into contracts with small and midsize businesses (SMB) and accounting firm customers to provide access to the functionality of the Company’s cloud-based payments platform to process transactions. These contracts are either monthly contracts paid in arrears, or annual arrangements paid up front. The Company charges its SMB and accounting firm customers subscription fees for access to its platform either based on the number of users or per customer account and the level of service. The Company generally also charges customers transaction fees based on transaction volume and the category of transaction. The contractual price for subscription and transaction services is based on either negotiated fees or the rates published on the Company’s website.</div><div style="margin-top:12pt;text-indent:36pt">The Company accounts for its annual and monthly contracts as a series of distinct services that are satisfied over time. Revenues recognized exclude amounts collected on behalf of third parties, such as sales taxes collected and remitted to governmental authorities.</div><div style="margin-top:12pt;text-indent:36pt">The Company enables SMB and accounting firm customers to make virtual card payments to their suppliers. The Company also facilitates the extension of credit to spending businesses through the BILL Spend and Expense product in the form of BILL Divvy Cards. The spending businesses utilize the credit on BILL Divvy Cards as a means of payment for goods and services provided by their suppliers. Virtual card payments and BILL Divvy Cards are originated through agreements with Issuing Banks. The agreements with the Issuing Banks allow for card transactions on the Mastercard and Visa networks. For each virtual card and BILL Divvy Card transaction, suppliers are required to pay interchange fees to the issuer of the card. Based on the Company's agreements with its Issuing Banks, the Company recognizes the interchange fees as revenue gross or net of fees paid to the Issuing Bank based on the Company's determination of whether it is the principal or agent under the agreements.</div><div style="margin-top:12pt;text-indent:36pt">The Company enters into multi-year contracts with financial institution customers to provide them with access to the Company’s cloud-based payments platform. These contracts typically include fees for initial implementation services that are paid during the period the implementation services are provided as well as fees for subscription and transaction processing services, which are subject to guaranteed minimum fees that are paid over the contract term. These contracts enable the financial institutions to provide their customers with access to online bill pay services through the financial institutions’ online platforms. Implementation services are required up-front to establish an infrastructure that allows the financial institutions’ online platforms to </div><div style="margin-top:12pt">communicate with the Company’s online platform. A financial institution’s customers cannot access online bill pay services until implementation is complete.</div><div style="margin-top:12pt;text-indent:36pt">Initial implementation services and transaction processing services are not capable of being distinct from the subscription for online bill pay services and are combined into a single performance obligation. The total consideration in these contracts varies based on the number of users and transactions to be processed. The Company has determined it meets the variable consideration allocation exception and therefore recognizes guaranteed monthly payments and any overages as revenue in the month they are earned. Implementation fees are recognized based on the proportion of transactions processed to the total estimated transactions to be processed over the contract period. The Company allocates revenue to each performance obligation based on its relative standalone selling price. </div><div style="margin-top:12pt">Interest on Funds Held for Customers</div><div style="margin-top:12pt;text-indent:36pt">The Company also earns revenue from interest earned on funds held for customers that are initially deposited into the Company’s bank accounts that are separate from the Company’s operating cash accounts until remitted to the customers or their suppliers. Interest and fees earned are recognized based on the effective interest method and also include the accretion of discounts and the amortization of premiums on marketable debt securities.</div>

<div style="margin-top:12pt">Deferred Revenue </div>Subscription and transaction fees from customers for which the Company has annual or multi-year contracts are generally billed in advance. These fees are initially recorded as deferred revenue and subsequently recognized as revenue as the performance obligation is satisfied.

<div style="margin-top:12pt">Deferred Costs</div>Deferred costs consist of (i) deferred sales commissions that are incremental costs of obtaining customer contracts and (ii) deferred service costs, primarily direct payroll costs, for implementation services provided to customers prior to the launching of the Company’s products for general availability (go-live) to customers. Deferred sales commissions are amortized ratably over the estimated life of the customer relationship aligned with the pattern of customer attrition, taking into consideration the initial contract term and expected renewal periods. Deferred service costs are amortized ratably over the estimated benefit period of the capitalized costs starting on the go-live date of the service.

<div style="margin-top:12pt">Service Costs </div><div style="margin-top:12pt;text-indent:36pt">Service costs consist primarily of costs that are directly attributed to processing customers’ and spending businesses' transactions (such as the cost of printing checks, postage for mailing checks, fees associated with the issuance and processing of card transactions, net of card network incentives, fees for processing payments), personnel-related costs, including stock-based compensation, for the Company’s customer success and payment operations teams, outsourced support services for the Company's customer success team, direct and amortized costs for implementing and integrating the Company’s cloud-based platform into the customers’ systems, and cloud payments infrastructure costs.</div>

<div style="margin-top:12pt">Research and Development</div>Costs incurred in research and development, excluding development costs eligible for capitalization as internal-use software, are expensed as incurred.

<div style="margin-top:12pt">Stock-based Compensation</div><div style="margin-top:12pt;text-indent:36pt">The Company measures stock-based compensation for purchase rights issued under the Employee Stock Purchase Plan (ESPP) at fair value on the date of grant using the Black-Scholes option-pricing model. The Company measures stock-based compensation for restricted stock units (RSUs) and market-based RSUs based on the closing price of the Company’s stock and using the Monte Carlo simulation model, respectively, on the date of grant. The Company measures stock-based compensation for performance-based awards at fair </div><div style="margin-top:12pt">value on the date of grant. Awards that are classified as liabilities are remeasured at fair value at the end of each reporting period.</div><div style="margin-top:12pt;text-indent:36pt">The Company recognizes stock-based compensation on a straight-line basis over the requisite service period of one to four years for RSUs, the offering period of one year for purchase rights under the ESPP, and the requisite period of one to three years for market-based RSUs. The Company recognizes compensation for performance-based awards over the vesting period if it is probable that the performance condition will be achieved. The Company accounts for forfeitures as they occur.</div>

P4Y

P1Y

P3Y

<div style="margin-top:12pt">Advertising</div>The Company expenses the costs of advertising, including promotional expenses, as incurred. Advertising expenses during the years ended June 30, 2026, 2025, and 2024 were $45.0 million, $47.2 million, and $43.6 million, respectively.

45000000.0

47200000

43600000

<div style="margin-top:12pt">Income Taxes </div><div style="margin-top:12pt;text-indent:36pt">The Company accounts for income taxes using the asset and liability method, which requires the recognition of taxes payable or refundable for the current year and deferred income tax assets and liabilities for the future tax consequences of temporary differences between the financial statement carrying amounts and the tax basis of the Company's assets and liabilities, net operating loss (NOL), and tax credit carryforwards. A valuation allowance is established to reduce deferred tax assets to the amount expected to be realized. </div>The Company accounts for uncertainty in income taxes using a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. The Company classifies any liabilities for unrecognized tax benefits as current to the extent that the Company anticipates payment (or receipt) of cash within one year. Interest and penalties related to uncertain tax positions are recognized in the provision for income taxes.

<div style="margin-top:12pt">Net Income (Loss) Per Share Attributable to Common Stockholders</div><div style="margin-top:12pt;text-indent:36pt">Basic net income (loss) per share attributable to common stockholders is calculated by dividing the net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, without consideration of potentially dilutive securities. Diluted net income per share attributable to common stockholders is calculated by dividing net income by the weighted average number of common and dilutive common stock outstanding during the period, using the treasury stock and if-converted methods. Diluted net loss per share attributable to common stock equals basic net loss per share since the effect of potentially dilutive securities is anti-dilutive given the net loss of the Company in that period.</div>

<div style="margin-top:12pt">Restructuring</div><div style="margin-top:12pt;text-indent:36pt">Restructuring charges consist of severance, benefits, stock-based compensation, payroll taxes, costs related to contract terminations, and other related costs. The Company recognizes a liability for involuntary employee termination benefits pursuant to a mutually understood severance benefits plan when it is probable and the termination benefits are estimable. One-time involuntary termination benefits that are not provided under the ongoing severance benefits plan or enhancements to the ongoing severance benefits plan are not accrued until the terms of the benefit arrangement have been communicated to the affected employees. Other exit-related costs are recognized as incurred.</div>

<div style="margin-top:12pt">New Accounting Pronouncements and Disclosure Rules Recently Adopted </div><div style="margin-top:12pt;text-indent:36pt">In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands disclosures in an entity’s income tax rate reconciliation table and regarding cash taxes paid both in the U.S. and foreign jurisdictions. The Company adopted ASU 2023-09 beginning with its Annual Report on Form 10-K for </div><div style="margin-top:12pt">the fiscal year ended June 30, 2026 on a prospective basis. For additional information, see Note 12, Income Taxes.</div><div style="margin-top:12pt">New Accounting Pronouncements and Disclosure Rules Not Adopted</div><div style="margin-top:12pt;text-indent:36pt">In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses (Topic 220), which requires additional disclosures, for interim and annual reporting, of expenses by nature, such as employee compensation, depreciation and amortization, and selling expenses. The updated standard will be effective beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. This ASU will result in the required additional disclosures being included in the consolidated financial statements on a prospective basis, with the option for retrospective application, once adopted.</div><div style="margin-top:12pt;text-indent:36pt">In November 2024, the FASB issued ASU 2024-04, Induced Conversions of Convertible Debt Instruments (Topic 470), which clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. The amendments in this update are effective for all entities for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods. Early adoption is permitted for all entities that have adopted the amendments in ASU 2020-06. The Company does not expect the adoption of this standard to have a material impact on the consolidated financial statements.</div><div style="margin-top:12pt;text-indent:36pt">In July 2025, the FASB issued ASU 2025-05, Financial Instruments - Credit Losses (Topic 326). The guidance in ASU 2025-05 provides all entities with a practical expedient to assume that current conditions as of the balance sheet date do not change for the remaining life of current accounts receivable and contract assets. ASU 2025-05 is effective for fiscal years beginning after December 15, 2025 and interim reporting periods within those annual reporting periods. Early adoption is permitted. The Company does not expect this ASU to materially impact the consolidated financial statements.</div><div style="margin-top:12pt;text-indent:36pt">In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Topic 350). The amended guidance modernizes the accounting for costs related to internal-use software to more closely align with current software development methods. The guidance removes references to project stages and clarifies when the Company is required to start capitalizing eligible costs. ASU 2025-06 is effective for fiscal years beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. Early adoption is permitted. The guidance can be applied on a prospective basis, a modified basis for in-process projects, or a retrospective basis. The Company is evaluating the impact this amended guidance may have on its consolidated financial statements.</div>

REVENUE<div style="margin-top:12pt;text-indent:36pt">The Company generates revenue primarily from subscription and transaction fees. For the purpose of disaggregating revenue by solutions, the Company defines BILL AP/AR as transaction and subscription revenue derived from businesses that use its core BILL accounts payable and receivable platform; BILL Spend and Expense as interchange revenue derived from BILL Divvy Card transactions; and Embedded Solutions and Other as transaction and subscription revenue from businesses that access the Company's solutions through its embedded partners' platforms and other indirect sales channels (including financial institution partners), and Invoice2go revenue. The table below shows the Company’s revenue from subscription and transaction fees, which are disaggregated by solutions, and revenue from interest on funds held for customers (in thousands).</div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:59.960%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.475%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.475%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.478%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;text-indent:-9pt;vertical-align:top">BILL AP/AR</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">740,116 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">667,782 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">595,408 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;text-indent:-9pt;vertical-align:top">BILL Spend and Expense</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">675,552 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">555,016 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">457,309 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 23.5pt;text-align:left;text-indent:-9pt;vertical-align:top"> Integrated platform</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,415,668 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,222,798 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,052,717 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;text-indent:-9pt;vertical-align:top">Embedded Solutions and Other</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">89,081 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">78,006 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">70,016 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 23.5pt;text-align:left;text-indent:-9pt;vertical-align:top"> Total subscription and transaction fees</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,504,749 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,300,804 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,122,733 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11.5pt;text-align:left;text-indent:-9pt;vertical-align:top">Interest on funds held for customers</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">148,411 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">161,766 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">167,439 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:52.5pt;text-indent:-9pt">Total revenue (1)</div></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,653,160 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,462,570 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,290,172 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt;padding-left:18pt">(1) Total revenue includes interest on funds held for customers, accretion of discount, interest income on loans held for investment, and fees earned on acquired card receivables in the amount of $190.2 million, $195.4 million, and $184.0 million during the years ended June 30, 2026, 2025, and 2024, respectively, such revenue is excluded from the scope of ASC 606. </div><div style="margin-top:12pt">Deferred revenue</div><div style="margin-top:12pt;text-indent:36pt">Fees from customers with which the Company has annual or multi-year contracts are generally billed in advance. These fees are initially recorded as deferred revenue and subsequently recognized as revenue as the performance obligation is satisfied. During the year ended June 30, 2026, the Company recognized $22.4 million of revenue that was included in the deferred revenue balances as of June 30, 2025. </div><div style="margin-top:12pt">Remaining performance obligations</div><div style="margin-top:12pt;text-indent:36pt">The Company has performance obligations associated with commitments in customer contracts for future services that have not yet been recognized as revenue. As of June 30, 2026, the aggregate amount of transaction price allocated to performance obligations that are unsatisfied (or partially unsatisfied), including deferred revenue, was $55.6 million. Of the total remaining performance obligations, the Company expects to recognize approximately 62% over the next year, 27% between one to two years and 11% thereafter. The Company determines remaining performance obligations at a point in time based on contracts with customers. However, actual amounts and timing of revenue recognized may differ due to subsequent contract modifications, renewals and/or terminations.</div><div style="margin-top:12pt">Unbilled revenue </div><div style="margin-top:12pt;text-indent:36pt">Unbilled revenue consists of revenue recognized that has not been billed to the customers yet. Unbilled revenue was $19.6 million and $17.3 million as of June 30, 2026 and 2025, respectively, and is included in accounts receivable, net in the accompanying consolidated balance sheets.</div><div style="margin-top:12pt">Deferred costs </div><div style="margin-top:12pt;text-indent:36pt">Deferred costs consisted of the following as of the dates presented (in thousands): </div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Deferred sales commissions:</td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Current</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">10,842 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">10,094 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Non-current</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">16,687 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">16,237 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">Total deferred sales commissions</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">27,529 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">26,331 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Deferred service costs:</td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Current</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,130 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">627 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Non-current</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,341 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,418 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">Total deferred service costs</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">2,471 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">3,045 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-indent:36pt">The current portion of deferred costs is included in prepaid expenses and other current assets and the non-current portion is included in other assets in the accompanying consolidated balance sheets. The amortization of deferred sales commissions, which is included in sales and marketing in the accompanying consolidated statements of operations, was $11.4 million, $9.7 million, and $7.9 million during the years ended June 30, 2026, 2025, and 2024, respectively. The amortization of deferred service costs, which is included in service costs in the accompanying consolidated statements of operations, was $0.9 million, $0.2 million, and $2.0 million during the years ended June 30, 2026, 2025, and 2024, respectively.</div>

The table below shows the Company’s revenue from subscription and transaction fees, which are disaggregated by solutions, and revenue from interest on funds held for customers (in thousands).<div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:59.960%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.475%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.475%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.478%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;text-indent:-9pt;vertical-align:top">BILL AP/AR</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">740,116 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">667,782 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">595,408 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;text-indent:-9pt;vertical-align:top">BILL Spend and Expense</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">675,552 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">555,016 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">457,309 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 23.5pt;text-align:left;text-indent:-9pt;vertical-align:top"> Integrated platform</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,415,668 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,222,798 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,052,717 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;text-indent:-9pt;vertical-align:top">Embedded Solutions and Other</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">89,081 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">78,006 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">70,016 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 23.5pt;text-align:left;text-indent:-9pt;vertical-align:top"> Total subscription and transaction fees</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,504,749 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,300,804 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,122,733 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11.5pt;text-align:left;text-indent:-9pt;vertical-align:top">Interest on funds held for customers</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">148,411 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">161,766 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">167,439 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:52.5pt;text-indent:-9pt">Total revenue (1)</div></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,653,160 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,462,570 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,290,172 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>(1) Total revenue includes interest on funds held for customers, accretion of discount, interest income on loans held for investment, and fees earned on acquired card receivables in the amount of $190.2 million, $195.4 million, and $184.0 million during the years ended June 30, 2026, 2025, and 2024, respectively, such revenue is excluded from the scope of ASC 606.

740116000

667782000

595408000

675552000

555016000

457309000

1415668000

1222798000

1052717000

89081000

78006000

70016000

1504749000

1300804000

1122733000

148411000

161766000

167439000

1653160000

1462570000

1290172000

190200000

195400000

184000000.0

22400000

55600000

0.62

0.27

0.11

19600000

17300000

<div style="margin-top:12pt;text-indent:36pt">Deferred costs consisted of the following as of the dates presented (in thousands): </div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Deferred sales commissions:</td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Current</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">10,842 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">10,094 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Non-current</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">16,687 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">16,237 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">Total deferred sales commissions</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">27,529 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">26,331 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Deferred service costs:</td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Current</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,130 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">627 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Non-current</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,341 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,418 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">Total deferred service costs</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">2,471 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">3,045 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

10842000

10094000

16687000

16237000

27529000

26331000

1130000

627000

1341000

2418000

2471000

3045000

11400000

9700000

7900000

900000

200000

2000000.0

FAIR VALUE MEASUREMENT<div style="margin-top:12pt;text-indent:36pt">The Company measures and reports its cash equivalents, short-term investments, funds held for customers that are invested in money market funds and marketable debt securities at fair value. Fair value is defined as the exchange price that would be received for an asset or an exit price paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs.</div><div style="margin-top:12pt;text-indent:36pt">The fair value hierarchy defines a three-level valuation hierarchy for disclosure of fair value measurements as follows:</div><div style="margin-top:6pt;padding-left:108pt;text-indent:-72pt">Level 1 – Inputs are unadjusted quoted prices in active markets for identical assets or liabilities.</div><div style="margin-top:6pt;padding-left:108pt;text-indent:-72pt">Level 2 – Inputs other than quoted prices included within Level 1 that are observable, unadjusted quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities.</div><div style="margin-top:6pt;padding-left:108pt;text-indent:-72pt">Level 3 – Unobservable inputs that are supported by little or no market activity for the related assets or liabilities and typically reflect management’s estimate of assumptions that market participants would use in pricing the assets or liabilities.</div><div style="margin-top:12pt;text-indent:36pt">In determining fair value, the Company utilizes quoted market prices, or valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, and also considers counterparty credit risk in its assessment of fair value.</div><div style="margin-top:12pt;text-indent:36pt">The following table summarizes the fair values of the financial assets and liabilities, determined using quoted market prices of identical assets or market prices of similar assets from active markets as of the dates presented (in thousands): </div><div style="margin-top:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.090%"><tr><td style="width:1.0%"></td><td style="width:57.156%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.411%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.202%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.411%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.202%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.411%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.207%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Fair Value at</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Pricing Category</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Assets</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Cash equivalents:</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Money market funds</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 1</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 7pt 1.5pt 0;text-align:right;vertical-align:bottom">378,254</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 7pt 1.5pt 0;text-align:right;vertical-align:bottom">365,456</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 7pt 1.5pt 1pt;text-align:right;vertical-align:bottom">—</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 7pt 1.5pt 1pt;text-align:right;vertical-align:bottom">69,956</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Certificates of deposit</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 7pt 1.5pt 1pt;text-align:right;vertical-align:bottom">—</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 7pt 1.5pt 1pt;text-align:right;vertical-align:bottom">2,216</td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Short-term investments:</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">409,323 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">758,333 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">U.S. treasury securities</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">436,610 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">287,559 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Asset-backed securities</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">50,255 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">118,236 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Certificates of deposit</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,268 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">15,982 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">U.S. agency securities</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Funds held for customers:</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Restricted cash equivalents</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28pt;text-align:left;vertical-align:bottom">Money market funds</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 1</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,653,401 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,642,494 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 28pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">18,929 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Short-term investments</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">403,016 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">486,362 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 28pt;text-align:left;vertical-align:bottom">U.S. treasury securities</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,201,563 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">868,705 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28pt;text-align:left;vertical-align:bottom">Asset-backed securities</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">64,939 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">167,970 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 28pt;text-align:left;vertical-align:bottom">Certificates of deposit</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">47,865 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">99,138 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28pt;text-align:left;vertical-align:bottom">Municipal bonds</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">19,726 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,592 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div>Liabilities (1)</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9pt">0% 2025 Notes</div></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">32,567 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9pt">0% 2027 Notes</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">119,606 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">112,738 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9pt">0% 2030 Notes</div></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,208,480 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,185,128 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt;padding-left:18pt">(1) These liabilities are carried at par value, less the unamortized issuance costs in the accompanying consolidated balance sheets. </div><div style="margin-top:12pt;text-indent:36pt">There were no transfers of financial instruments between Level 1, Level 2, and Level 3 during the periods presented.</div><div style="margin-top:12pt;text-indent:36pt">The Company's financial instruments that are not measured and recorded at fair value, such as cash, restricted cash, acquired cards receivables, loans held for investment, interest receivables, network incentive receivables and borrowings from credit facilities, are carried at amortized cost, which approximates their fair value. If these financial instruments were measured at fair value in the financial statements, cash would be classified as Level 1; restricted cash, interest receivables, incentive receivables and borrowings from credit facilities would be classified as Level 2 and the acquired card receivables and loans held for investment would be classified as Level 3 in the fair value hierarchy.</div>

<div style="margin-top:12pt;text-indent:36pt">The Company measures and reports its cash equivalents, short-term investments, funds held for customers that are invested in money market funds and marketable debt securities at fair value. Fair value is defined as the exchange price that would be received for an asset or an exit price paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs.</div><div style="margin-top:12pt;text-indent:36pt">The fair value hierarchy defines a three-level valuation hierarchy for disclosure of fair value measurements as follows:</div><div style="margin-top:6pt;padding-left:108pt;text-indent:-72pt">Level 1 – Inputs are unadjusted quoted prices in active markets for identical assets or liabilities.</div><div style="margin-top:6pt;padding-left:108pt;text-indent:-72pt">Level 2 – Inputs other than quoted prices included within Level 1 that are observable, unadjusted quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities.</div><div style="margin-top:6pt;padding-left:108pt;text-indent:-72pt">Level 3 – Unobservable inputs that are supported by little or no market activity for the related assets or liabilities and typically reflect management’s estimate of assumptions that market participants would use in pricing the assets or liabilities.</div><div style="margin-top:12pt;text-indent:36pt">In determining fair value, the Company utilizes quoted market prices, or valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, and also considers counterparty credit risk in its assessment of fair value.</div>

<div style="margin-top:12pt;text-indent:36pt">The following table summarizes the fair values of the financial assets and liabilities, determined using quoted market prices of identical assets or market prices of similar assets from active markets as of the dates presented (in thousands): </div><div style="margin-top:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.090%"><tr><td style="width:1.0%"></td><td style="width:57.156%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.411%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.202%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.411%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.202%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.411%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.207%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Fair Value at</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Pricing Category</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Assets</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Cash equivalents:</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Money market funds</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 1</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 7pt 1.5pt 0;text-align:right;vertical-align:bottom">378,254</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 7pt 1.5pt 0;text-align:right;vertical-align:bottom">365,456</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 7pt 1.5pt 1pt;text-align:right;vertical-align:bottom">—</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 7pt 1.5pt 1pt;text-align:right;vertical-align:bottom">69,956</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Certificates of deposit</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 7pt 1.5pt 1pt;text-align:right;vertical-align:bottom">—</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 7pt 1.5pt 1pt;text-align:right;vertical-align:bottom">2,216</td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Short-term investments:</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">409,323 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">758,333 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">U.S. treasury securities</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">436,610 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">287,559 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Asset-backed securities</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">50,255 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">118,236 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Certificates of deposit</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,268 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">15,982 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">U.S. agency securities</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Funds held for customers:</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Restricted cash equivalents</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28pt;text-align:left;vertical-align:bottom">Money market funds</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 1</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,653,401 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,642,494 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 28pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">18,929 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:bottom">Short-term investments</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">403,016 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">486,362 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 28pt;text-align:left;vertical-align:bottom">U.S. treasury securities</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,201,563 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">868,705 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28pt;text-align:left;vertical-align:bottom">Asset-backed securities</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">64,939 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">167,970 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 28pt;text-align:left;vertical-align:bottom">Certificates of deposit</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">47,865 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">99,138 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28pt;text-align:left;vertical-align:bottom">Municipal bonds</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">19,726 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,592 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div>Liabilities (1)</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9pt">0% 2025 Notes</div></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">32,567 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9pt">0% 2027 Notes</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">119,606 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">112,738 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9pt">0% 2030 Notes</div></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,208,480 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,185,128 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>(1) These liabilities are carried at par value, less the unamortized issuance costs in the accompanying consolidated balance sheets.

378254000

365456000

69956000

2216000

409323000

758333000

436610000

287559000

50255000

118236000

10268000

15982000

1653401000 1642494000 0 18929000 403016000 486362000 1201563000 868705000 64939000 167970000 47865000 99138000 19726000 6592000

32567000

119606000

112738000

1208480000

1185128000

SHORT-TERM INVESTMENTS AND FUNDS HELD FOR CUSTOMERS<div style="margin-top:12pt;text-indent:36pt">The following table summarizes the assets underlying short-term investments and funds held for customers as of the dates presented (in thousands):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:73.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.475%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.477%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Short-term investments:</td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Available-for-sale debt securities</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">906,456 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,180,110 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 25pt;text-align:left;vertical-align:top">Total short-term investments</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">906,456 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,180,110 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Funds held for customers:</td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Restricted cash</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">943,618 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">749,111 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Restricted cash equivalents</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,653,401 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,661,423 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Funds receivable</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">46,346 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">25,499 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Available-for-sale debt securities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,737,109 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,628,767 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 25pt;text-align:left;vertical-align:bottom">Total funds held for customers</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,380,474 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,064,800 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:24pt">Less - interest income included in other current assets(1)</div></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(27,841)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(20,330)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 37pt;text-align:left;vertical-align:bottom">Total funds held for customers, net of income earned by the Company</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">4,352,633 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">4,044,470 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt;padding-left:18pt">(1) Represents interest income, accretion of discount, and net unrealized gains on customer funds that were invested in money market funds and short-term marketable debt securities. The Company contractually earns interest income on these investments, which is expected to be transferred into the Company’s corporate deposit account upon sale or settlement of the associated investment, and is not considered funds held for customers.</div><div style="margin-top:12pt;text-indent:36pt">The following table summarizes the estimated fair value of available-for-sale debt securities, included within short-term investments and funds held for customers, as of the dates presented (in thousands): </div><div style="margin-top:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.354%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Amortized cost</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Gross unrealized gains</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Gross unrealized losses </td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Fair value</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Short-term investments:</td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">408,649 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">703 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(29)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">409,323 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">U.S. treasury securities</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">439,718 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">11 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(3,119)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">436,610 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Asset-backed securities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">50,268 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">32 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(45)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">50,255 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Certificates of deposit</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,268 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,268 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">Total short-term investments</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">908,903 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">746 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(3,193)</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">906,456 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Funds held for customers:</td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">402,347 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">706 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(37)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">403,016 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Certificates of deposit</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">47,865 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">47,865 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Asset-backed securities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">64,788 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">166 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(15)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">64,939 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Municipal bonds</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">19,772 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(50)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">19,726 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">U.S. treasury securities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,206,130 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">817 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(5,384)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,201,563 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">Total funds held for customers</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,740,902 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,693 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(5,486)</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,737,109 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.354%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Amortized cost</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Gross unrealized gains</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Gross unrealized losses</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Fair value</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Short-term investments:</td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">756,009 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">2,598 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(274)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">758,333 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">U.S. treasury securities</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">287,356 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">261 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(58)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">287,559 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Asset-backed securities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">118,074 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">177 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(15)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">118,236 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Certificates of deposit</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">15,982 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">15,982 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">Total short-term investments</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,177,421 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">3,036 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(347)</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,180,110 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Funds held for customers:</td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">483,604 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">2,759 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(1)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">486,362 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Certificates of deposit</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">99,138 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">99,138 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Asset-backed securities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">167,179 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">791 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">167,970 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt">Municipal bonds</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,560 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">32 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,592 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">U.S. treasury securities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">864,602 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,319 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(216)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">868,705 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">Total funds held for customers</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,621,083 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">7,901 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(217)</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,628,767 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-indent:36pt">The amortized cost and fair value amounts for short-term investments include interest receivables of $7.9 million and $8.9 million as of June 30, 2026 and 2025, respectively. The amortized cost and fair value amounts for funds held for customers include interest receivables of $14.4 million and $12.4 million as of June 30, 2026 and 2025, respectively.</div><div style="margin-top:12pt;text-indent:36pt">The following table summarizes fair value of the Company's available-for-sale debt securities, included within short-term investments and funds held for customers, by remaining contractual maturity as of the dates presented (in thousands):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:73.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.475%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.477%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Due within 1 year</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,250,220 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,118,478 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Due in 1 year through 5 years</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,393,131 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,689,477 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Due in 5 years through 10 years</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">214 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">922 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:top">Total</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">2,643,565 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">2,808,877 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-indent:36pt">As of June 30, 2026, approximately 250 out of approximately 650 investments in available-for-sale debt securities were in an unrealized loss position. The following tables show gross unrealized losses and fair values for those investments that were in an unrealized loss position as of the dates presented (in thousands):</div><div style="margin-top:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:30.415%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.809%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.809%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.809%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.809%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.809%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.810%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="33" style="border-bottom:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Less than 12 months</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">12 months or longer</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Fair value</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Unrealized losses</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Fair value</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Unrealized losses</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Fair value</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Unrealized losses</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Short-term investments:</td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">60,578 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(29)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">60,578 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(29)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">U.S. treasury securities</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">391,291 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(3,119)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">391,291 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(3,119)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Asset-backed securities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">25,679 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(41)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">236 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(4)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">25,915 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(45)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">Total short-term investments</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">477,548 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(3,189)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">236 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(4)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">477,784 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(3,193)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Funds held for customers:</td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">47,958 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(37)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">47,958 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(37)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Asset-backed securities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,475 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(15)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,475 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(15)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">U.S. treasury securities</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">691,322 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(5,384)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">691,322 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(5,384)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Municipal bonds</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">13,760 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(50)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">13,760 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(50)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">Total funds held for customers</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">755,515 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(5,486)</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">755,515 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(5,486)</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:30.415%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.809%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.809%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.809%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.809%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.809%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.810%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="33" style="border-bottom:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Less than 12 months</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">12 months or longer</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Fair value</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Unrealized losses</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Fair value</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Unrealized losses</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Fair value</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Unrealized losses</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Short-term investments:</td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">209,648 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(274)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">209,648 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(274)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">U.S. treasury securities</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">139,598 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(58)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">139,598 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(58)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Asset-backed securities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">30,362 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(15)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">30,362 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(15)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">Total short-term investments</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">379,608 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(347)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">379,608 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(347)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Funds held for customers:</td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">12,867 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(1)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">12,867 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(1)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Asset-backed securities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,576 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,576 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">U.S. treasury securities</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">82,910 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(216)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">82,910 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(216)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">Total funds held for customers</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">100,353 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(217)</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">100,353 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(217)</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-indent:36pt">Unrealized losses have not been recognized into income as the Company neither intends to sell, nor anticipates that it is more likely than not that the Company will be required to sell, the securities before recovery of their amortized cost basis. The decline in fair value is due primarily to changes in market interest rates, rather than credit losses. </div><div style="margin-top:12pt;text-indent:36pt">There have been no significant realized gains or losses on the short-term investments and funds held for customers during the years ended June 30, 2026, 2025, and 2024.</div> <div style="margin-top:12pt;text-indent:36pt">The following table summarizes the assets underlying short-term investments and funds held for customers as of the dates presented (in thousands):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:73.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.475%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.477%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Short-term investments:</td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Available-for-sale debt securities</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">906,456 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,180,110 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 25pt;text-align:left;vertical-align:top">Total short-term investments</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">906,456 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,180,110 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Funds held for customers:</td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Restricted cash</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">943,618 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">749,111 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Restricted cash equivalents</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,653,401 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,661,423 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Funds receivable</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">46,346 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">25,499 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Available-for-sale debt securities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,737,109 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,628,767 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 25pt;text-align:left;vertical-align:bottom">Total funds held for customers</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,380,474 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,064,800 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:24pt">Less - interest income included in other current assets(1)</div></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(27,841)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(20,330)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 37pt;text-align:left;vertical-align:bottom">Total funds held for customers, net of income earned by the Company</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">4,352,633 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">4,044,470 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt;padding-left:18pt">(1) Represents interest income, accretion of discount, and net unrealized gains on customer funds that were invested in money market funds and short-term marketable debt securities. The Company contractually earns interest income on these investments, which is expected to be transferred into the Company’s corporate deposit account upon sale or settlement of the associated investment, and is not considered funds held for customers.</div>

906456000

1180110000

906456000

1180110000

943618000 749111000 1653401000 1661423000 46346000 25499000 1737109000 1628767000 4380474000 4064800000 27841000 20330000

4352633000

4044470000

<div style="margin-top:12pt;text-indent:36pt">The following table summarizes the estimated fair value of available-for-sale debt securities, included within short-term investments and funds held for customers, as of the dates presented (in thousands): </div><div style="margin-top:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.354%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Amortized cost</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Gross unrealized gains</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Gross unrealized losses </td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Fair value</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Short-term investments:</td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">408,649 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">703 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(29)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">409,323 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">U.S. treasury securities</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">439,718 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">11 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(3,119)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">436,610 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Asset-backed securities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">50,268 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">32 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(45)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">50,255 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Certificates of deposit</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,268 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,268 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">Total short-term investments</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">908,903 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">746 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(3,193)</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">906,456 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Funds held for customers:</td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">402,347 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">706 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(37)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">403,016 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Certificates of deposit</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">47,865 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">47,865 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Asset-backed securities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">64,788 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">166 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(15)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">64,939 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Municipal bonds</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">19,772 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(50)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">19,726 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">U.S. treasury securities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,206,130 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">817 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(5,384)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,201,563 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">Total funds held for customers</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,740,902 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,693 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(5,486)</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,737,109 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.354%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Amortized cost</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Gross unrealized gains</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Gross unrealized losses</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Fair value</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Short-term investments:</td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">756,009 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">2,598 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(274)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">758,333 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">U.S. treasury securities</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">287,356 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">261 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(58)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">287,559 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Asset-backed securities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">118,074 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">177 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(15)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">118,236 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Certificates of deposit</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">15,982 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">15,982 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">Total short-term investments</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,177,421 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">3,036 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(347)</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,180,110 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Funds held for customers:</td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">483,604 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">2,759 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(1)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">486,362 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Certificates of deposit</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">99,138 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">99,138 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Asset-backed securities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">167,179 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">791 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">167,970 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt">Municipal bonds</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,560 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">32 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,592 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">U.S. treasury securities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">864,602 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,319 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(216)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">868,705 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">Total funds held for customers</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,621,083 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">7,901 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(217)</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,628,767 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

408649000

703000

29000

409323000

439718000

11000

3119000

436610000

50268000

32000

45000

50255000

10268000

908903000

746000

3193000

906456000

402347000 706000 37000 403016000 47865000 0 0 47865000 64788000 166000 15000 64939000 19772000 4000 50000 19726000 1206130000 817000 5384000 1201563000 1740902000 1693000 5486000 1737109000

756009000

2598000

274000

758333000

287356000

261000

58000

287559000

118074000

177000

15000

118236000

15982000

1177421000

3036000

347000

1180110000

483604000 2759000 1000 486362000 99138000 0 0 99138000 167179000 791000 0 167970000 6560000 32000 0 6592000 864602000 4319000 216000 868705000 1621083000 7901000 217000 1628767000

7900000

8900000

14400000 14400000 12400000 12400000

1250220000

1118478000

1393131000

1689477000

214000

922000

2643565000

2808877000

250 650 The following tables show gross unrealized losses and fair values for those investments that were in an unrealized loss position as of the dates presented (in thousands):<div style="margin-top:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:30.415%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.809%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.809%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.809%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.809%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.809%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.810%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="33" style="border-bottom:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Less than 12 months</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">12 months or longer</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Fair value</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Unrealized losses</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Fair value</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Unrealized losses</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Fair value</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Unrealized losses</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Short-term investments:</td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">60,578 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(29)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">60,578 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(29)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">U.S. treasury securities</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">391,291 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(3,119)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">391,291 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(3,119)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Asset-backed securities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">25,679 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(41)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">236 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(4)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">25,915 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(45)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">Total short-term investments</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">477,548 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(3,189)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">236 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(4)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">477,784 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(3,193)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Funds held for customers:</td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">47,958 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(37)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">47,958 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(37)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Asset-backed securities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,475 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(15)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,475 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(15)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">U.S. treasury securities</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">691,322 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(5,384)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">691,322 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(5,384)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Municipal bonds</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">13,760 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(50)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">13,760 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(50)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">Total funds held for customers</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">755,515 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(5,486)</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">755,515 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(5,486)</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:30.415%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.809%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.809%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.809%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.809%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.809%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.810%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="33" style="border-bottom:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Less than 12 months</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">12 months or longer</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Fair value</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Unrealized losses</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Fair value</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Unrealized losses</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Fair value</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Unrealized losses</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Short-term investments:</td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">209,648 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(274)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">209,648 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(274)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">U.S. treasury securities</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">139,598 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(58)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">139,598 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(58)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Asset-backed securities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">30,362 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(15)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">30,362 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(15)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">Total short-term investments</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">379,608 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(347)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">379,608 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(347)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Funds held for customers:</td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Corporate bonds</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">12,867 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(1)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">12,867 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(1)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Asset-backed securities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,576 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,576 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">U.S. treasury securities</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">82,910 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(216)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">82,910 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(216)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">Total funds held for customers</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">100,353 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(217)</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">100,353 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(217)</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

60578000

29000

60578000

29000

391291000

3119000

391291000

3119000

25679000

41000

236000

4000

25915000

45000

477548000

3189000

236000

4000

477784000

3193000

47958000 37000 0 0 47958000 37000 2475000 15000 0 0 2475000 15000 691322000 5384000 0 0 691322000 5384000 13760000 50000 0 0 13760000 50000 755515000 5486000 0 0 755515000 5486000

209648000

274000

209648000

274000

139598000

58000

139598000

58000

30362000

15000

30362000

15000

379608000

347000

379608000

347000

12867000 1000 0 0 12867000 1000 4576000 0 0 0 4576000 0 82910000 216000 0 0 82910000 216000 100353000 217000 0 0 100353000 217000

ACQUIRED CARD RECEIVABLES<div style="margin-top:12pt;text-indent:36pt"> As of June 30, 2026, approximately $459.3 million of the acquired card receivables balance served as collateral for the Company’s borrowings from the Revolving Credit Facilities (as defined below, see Note 9).</div><div style="margin-top:12pt;text-indent:36pt">The Company incurred losses related to card transactions disputed by spending businesses. The amounts were not material during the years ended June 30, 2026 and 2025.</div><div style="margin-top:12pt;text-indent:36pt">The acquired card receivables balances do not include purchases of participation interests in card receivables from the Company's card issuing partner banks (Issuing Banks) that have not cleared at the end of the reporting period. Purchases of participation interests in card receivables that have not cleared as of June 30, 2026 totaled $78.6 million. The Company recognized an immaterial amount of expected credit losses on the card receivables that have not cleared yet as of each of June 30, 2026 and 2025.</div><div style="margin-top:12pt">Credit Quality Information</div><div style="margin-top:12pt;text-indent:36pt">The Company regularly reviews collection experience, delinquencies, and net charge-offs in determining allowance for expected credit losses related to acquired card receivables. Historical collections rates have shown that days past due is the primary indicator of the likelihood of loss. The Company uses the delinquency trends or past due status of the acquired card receivables as the credit quality indicator. Acquired card receivables are considered past due if full payment is not received on the bill date or within a grace period, which is generally limited to five days. Below is a summary of the acquired card receivables by class (i.e., past due status) as of the dates presented (in thousands):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.545%"><tr><td style="width:1.0%"></td><td style="width:72.872%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.533%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.408%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.687%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Current and less than 30 days past due</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">810,572 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">686,070 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">30 ~ 59 days past due</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">5,720 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,173 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">60 ~ 89 days past due</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">5,595 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">5,312 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">90 ~ 119 days past due</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,613 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,562 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Over 119 days past due</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">49 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">11 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:top">Total</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">825,549 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">700,128 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt">Allowance for Expected Credit Losses </div><div style="margin-top:12pt;text-indent:36pt">Below is a summary of the changes in allowance for expected credit losses (in thousands): </div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div>Balance, beginning</div></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">15,020 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">20,883 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Provision for expected credit losses</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">54,518 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">45,326 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Charge-off amounts</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(68,367)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(59,265)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Recoveries collected</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">12,571 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">8,076 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div>Balance, ending</div></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">13,742 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">15,020 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-indent:36pt">Card receivables acquired from the Issuing Banks were $26.6 billion and $21.7 billion during the years ended June 30, 2026 and 2025, respectively. The provision for expected credit losses related to acquired card receivables increased during the year ended June 30, 2026 compared to the prior year due to portfolio growth and the prior-year release of $5.7 million of the credit loss allowance related to credit loss methodology refinements, partially offset by improvements in delinquency performance. The charged-off amounts related to acquired card receivables increased during the year ended June 30, 2026 compared to the prior year due to portfolio growth, partially offset by improvements in delinquency performance. The decrease in allowance for expected credit losses as of June 30, 2026 compared to June 30, 2025, was primarily due to a decrease in delinquent balances.</div> 459300000 78600000 P5D Below is a summary of the acquired card receivables by class (i.e., past due status) as of the dates presented (in thousands):<div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.545%"><tr><td style="width:1.0%"></td><td style="width:72.872%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.533%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.408%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.687%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Current and less than 30 days past due</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">810,572 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">686,070 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">30 ~ 59 days past due</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">5,720 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,173 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">60 ~ 89 days past due</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">5,595 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">5,312 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">90 ~ 119 days past due</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,613 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,562 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Over 119 days past due</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">49 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">11 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:top">Total</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">825,549 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">700,128 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 810572000 686070000 5720000 6173000 5595000 5312000 3613000 2562000 49000 11000 825549000 700128000

<div style="margin-top:12pt;text-indent:36pt">Below is a summary of the changes in allowance for expected credit losses (in thousands): </div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div>Balance, beginning</div></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">15,020 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">20,883 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Provision for expected credit losses</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">54,518 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">45,326 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Charge-off amounts</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(68,367)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(59,265)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Recoveries collected</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">12,571 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">8,076 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div>Balance, ending</div></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">13,742 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">15,020 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-indent:36pt">Below is a summary of the changes in allowance for credit losses presented (in thousands): </div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:73.445%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.324%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.325%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Balance, beginning</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">14,853 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">4,700 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Provision for expected credit losses</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">16,468 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">27,032 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Charge-off amounts</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(18,486)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(17,382)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Recoveries collected</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,355 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">503 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Balance, end of period</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">14,190 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">14,853 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

15020000 20883000 54518000 45326000 68367000 59265000 12571000 8076000 13742000 15020000 26600000000 21700000000

-5700000

LOANS HELD FOR INVESTMENT<div style="margin-top:12pt;text-indent:36pt">Loans held for investment represent funds advanced under a line of credit agreement, through a partnership with a third-party bank (the Originating Bank Partner). Loans held for investment are included in prepaid expenses and other current assets in the accompanying consolidated balance sheets and consisted of </div><div style="margin-top:12pt">the following as of the dates presented (in thousands):<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:73.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.475%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.477%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Unpaid principal balance</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">64,925 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">61,938 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Less: Discount at loan purchase, net of amortization</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,712)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,527)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Less: Allowance for expected credit losses</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(14,190)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(14,853)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:top">Loans held for investment, net</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">49,023 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">45,558 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt">Credit Quality Information</div><div style="margin-top:12pt;text-indent:36pt">The Company conducts an eligibility assessment prior to loan origination by the Originating Bank Partner. This process is performed at the invoice level and involves evaluating the invoice repayment likelihood by the respective network members associated with each invoice. Subsequently, the credit quality of these loans is monitored based on the delinquency trends or past due status of the loans held for investment, which are considered the credit quality indicators. Below is a summary of the loans held for investment by class (i.e., past due status) as of the dates presented (in thousands):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:73.445%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.627%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.022%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Current and less than 30 days past due</td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">57,994 </td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">55,540 </td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">30 ~ 59 days past due</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,202 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,471 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">60 ~ 89 days past due</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,638 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,461 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">90 ~ 119 days past due</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,379 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,685 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Over 119 days past due</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">254 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:top">Total</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">63,213 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">60,411 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt">Allowance for Credit Losses</div><div style="margin-top:12pt;text-indent:36pt">Below is a summary of the changes in allowance for credit losses presented (in thousands): </div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:73.445%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.324%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.325%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Balance, beginning</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">14,853 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">4,700 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Provision for expected credit losses</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">16,468 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">27,032 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Charge-off amounts</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(18,486)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(17,382)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Recoveries collected</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,355 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">503 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Balance, end of period</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">14,190 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">14,853 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-indent:36pt">The provision for expected credit losses related to loans held for investment decreased during the year ended June 30, 2026 compared to the prior year due to a decrease in estimated loss rates in fiscal 2026 compared to fiscal 2025, and improved delinquency performance, partially offset by portfolio growth.</div>

Loans held for investment are included in prepaid expenses and other current assets in the accompanying consolidated balance sheets and consisted of <div style="margin-top:12pt">the following as of the dates presented (in thousands):<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:73.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.475%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.477%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Unpaid principal balance</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">64,925 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">61,938 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Less: Discount at loan purchase, net of amortization</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,712)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,527)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Less: Allowance for expected credit losses</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(14,190)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(14,853)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:top">Loans held for investment, net</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">49,023 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">45,558 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

64925000

61938000

-1712000

-1527000

14190000

14853000

49023000

45558000

Below is a summary of the loans held for investment by class (i.e., past due status) as of the dates presented (in thousands):<div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:73.445%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.627%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.022%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Current and less than 30 days past due</td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">57,994 </td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">55,540 </td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">30 ~ 59 days past due</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,202 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,471 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">60 ~ 89 days past due</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,638 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,461 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">90 ~ 119 days past due</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,379 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,685 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Over 119 days past due</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">254 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:top">Total</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">63,213 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">60,411 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

57994000

55540000

2202000

1471000

1638000

1461000

1379000

1685000

254000

63213000

60411000

14853000

4700000

16468000

27032000

18486000

17382000

1355000

503000

14190000

14853000

PROPERTY AND EQUIPMENT<div style="margin-top:12pt;text-indent:36pt">Property and equipment consisted of the following as of the dates presented (in thousands): </div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Software and equipment</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">21,604 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">21,815 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Capitalized software</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">211,369 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">129,520 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Furniture and fixtures</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">15,111 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">15,510 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Leasehold improvements</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">41,792 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">39,855 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">Property and equipment, gross</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">289,876 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">206,700 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Less: accumulated depreciation and amortization</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(144,931)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(90,089)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">Property and equipment, net</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">144,945 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">116,611 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-indent:36pt">Depreciation and amortization expense, which includes the amortization of capitalized software, during the years ended June 30, 2026, 2025, and 2024 was $55.9 million, $27.5 million, and $23.2 million, respectively.</div><div style="margin-top:12pt;text-indent:36pt">As of June 30, 2026 and 2025, the unamortized capitalized software cost was $119.7 million and $85.6 million, respectively.</div>

<div style="margin-top:12pt;text-indent:36pt">Property and equipment consisted of the following as of the dates presented (in thousands): </div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Software and equipment</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">21,604 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">21,815 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Capitalized software</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">211,369 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">129,520 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Furniture and fixtures</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">15,111 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">15,510 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Leasehold improvements</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">41,792 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">39,855 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">Property and equipment, gross</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">289,876 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">206,700 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Less: accumulated depreciation and amortization</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(144,931)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(90,089)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">Property and equipment, net</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">144,945 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">116,611 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

21604000

21815000

211369000

129520000

15111000

15510000

41792000

39855000

289876000

206700000

144931000

90089000

144945000

116611000

55900000

27500000

23200000

119700000

85600000

GOODWILL AND INTANGIBLE ASSETS<div style="margin-top:12pt">Goodwill</div><div style="margin-top:12pt;text-indent:36pt">Goodwill, which is primarily attributable to expected synergies from acquisitions and is not deductible for U.S. federal and state income tax purposes, consisted of $2.4 billion as of each of June 30, 2026 and 2025.</div><div style="margin-top:12pt">Intangible Assets</div><div style="margin-top:12pt;text-indent:36pt">Intangible assets consisted of the following as of the dates presented (amounts in thousands):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.354%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Gross Carrying Amount</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Accumulated Amortization</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Net Carrying Amount</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Weighted average remaining useful life (In years)</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Customer relationships</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">259,269 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(130,263)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">129,006 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">5.0</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Developed technology</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">219,217 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(186,077)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">33,140 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">0.9</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">Total</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">478,486 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(316,340)</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">162,146 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr></table></div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.354%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Jun 30, 2025</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Gross Carrying Amount</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Accumulated Amortization</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Net Carrying Amount</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Weighted average remaining useful life (In years)</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Customer relationships</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">259,268 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(104,336)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">154,932 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">6.0</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Developed technology</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">219,217 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(151,344)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">67,873 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">1.9</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Trade name</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">48,042 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(48,042)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">0.0</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">Total</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">526,527 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(303,722)</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">222,805 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr></table></div><div style="margin-top:12pt;text-indent:36pt">Amortization of finite-lived intangible assets was as follows during the years ended June 30, 2026 and 2025 (in thousands): </div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Cost of revenue</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">34,732 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">35,217 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Sales and marketing</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">25,927 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">26,708 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:top">Total</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">60,659 </td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">61,925 </td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-indent:36pt">As of June 30, 2026, future amortization of finite-lived intangible assets that will be recorded in cost of revenue and operating expenses is estimated as follows (in thousands): </div><div style="margin-top:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:85.112%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.082%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div>Fiscal years ending June 30:</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Amount</td></tr><tr><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">2027</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">57,990 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">2028</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">27,004 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">2029</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">25,927 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">2030</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">25,927 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">2031</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">24,277 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Thereafter</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,021 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 31pt;text-align:left;vertical-align:top">Total</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">162,146 </td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

2400000000

<div style="margin-top:12pt;text-indent:36pt">Intangible assets consisted of the following as of the dates presented (amounts in thousands):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.354%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Gross Carrying Amount</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Accumulated Amortization</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Net Carrying Amount</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Weighted average remaining useful life (In years)</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Customer relationships</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">259,269 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(130,263)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">129,006 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">5.0</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Developed technology</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">219,217 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(186,077)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">33,140 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">0.9</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">Total</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">478,486 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(316,340)</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">162,146 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr></table></div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.354%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Jun 30, 2025</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Gross Carrying Amount</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Accumulated Amortization</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Net Carrying Amount</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Weighted average remaining useful life (In years)</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Customer relationships</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">259,268 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(104,336)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">154,932 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">6.0</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Developed technology</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">219,217 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(151,344)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">67,873 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">1.9</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Trade name</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">48,042 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(48,042)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">0.0</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">Total</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">526,527 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(303,722)</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">222,805 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr></table></div>

259269000

130263000

129006000

P5Y

219217000

186077000

33140000

P0Y10M24D

478486000

316340000

162146000

259268000

104336000

154932000

P6Y

219217000

151344000

67873000

P1Y10M24D

48042000

P0Y

526527000

303722000

222805000

<div style="margin-top:12pt;text-indent:36pt">Amortization of finite-lived intangible assets was as follows during the years ended June 30, 2026 and 2025 (in thousands): </div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Cost of revenue</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">34,732 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">35,217 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Sales and marketing</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">25,927 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">26,708 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:top">Total</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">60,659 </td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">61,925 </td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

34732000

35217000

25927000

26708000

60659000

61925000

<div style="margin-top:12pt;text-indent:36pt">As of June 30, 2026, future amortization of finite-lived intangible assets that will be recorded in cost of revenue and operating expenses is estimated as follows (in thousands): </div><div style="margin-top:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:85.112%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.082%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div>Fiscal years ending June 30:</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Amount</td></tr><tr><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">2027</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">57,990 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">2028</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">27,004 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">2029</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">25,927 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">2030</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">25,927 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">2031</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">24,277 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Thereafter</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,021 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 31pt;text-align:left;vertical-align:top">Total</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">162,146 </td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

57990000

27004000

25927000

24277000

1021000

162146000

DEBT AND BORROWINGS<div style="margin-top:12pt;padding-left:36pt">Debt and borrowings consisted of the following (in thousands):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.960%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Carrying Value at</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Expected Remaining Term (years)</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Annualized Effective</div><div style="text-align:center">Interest Rate at June 30, 2026</div></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div>Current liabilities:</div></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Convertible senior notes:</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt">2025 Notes, principal</div></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">33,463 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">2027 Notes, principal</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">123,548 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">0.8</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">0.48 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">Less: unamortized debt discount and issuance costs</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(491)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(42)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 25pt;text-align:left;vertical-align:bottom">Convertible senior notes, net current</td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">123,057 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">33,421 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Revolving credit facility:</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">2021 Credit Facility</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">180,005 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24pt">Borrowings from revolving credit facility (1)</div></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">180,005 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Non-current liabilities:</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Convertible senior notes:</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">2030 Notes, principal</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,400,000 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,400,000 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">3.8</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">0.32 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">2027 Notes, principal</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">123,548 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">Less: unamortized debt discount and issuance costs</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(16,934)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(22,504)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 25pt;text-align:left;vertical-align:bottom">Convertible senior notes, net</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,383,066 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,501,044 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Revolving credit facilities:</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">2021 Credit Facility</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">180,000 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">1.8</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6.43 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">2025 Credit Facility</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">150,000 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">1.4</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6.05 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24pt">Borrowings from revolving credit facilities (1)</div></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">330,000 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Total </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,836,123 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,714,470 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr></table></div><div style="margin-top:6pt;padding-left:18pt">(1) Unamortized debt issuance costs balance for the Revolving Credit Facilities was $1.6 million and $2.1 million as of June 30, 2026 and June 30, 2025, respectively, and is included in other assets on the consolidated balance sheets.</div><div style="margin-top:12pt">Convertible senior notes</div><div style="margin-top:12pt">2030 Notes</div><div style="margin-top:12pt;text-indent:36pt">On December 6, 2024, the Company issued $1.4 billion aggregate principal amount of 0% convertible senior notes due April 1, 2030, in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The 2030 Notes are subject to the terms and conditions of the indenture governing the 2030 Notes between the Company and Computershare Trust Company, N.A., as trustee (in its capacity as trustee for each of the 2030 Notes, the 2025 Notes (as defined below) and the 2027 Notes (as defined below), as applicable, the Notes Trustee). The net proceeds from the issuance of the 2030 Notes were $1.38 billion, after deducting the debt discount and debt issuance costs totaling $24.0 million.</div><div style="margin-top:12pt;text-indent:36pt">The 2030 Notes are senior, unsecured obligations of the Company, and will not accrue interest unless the Company determines to pay special interest as a remedy for failure to timely file any reports required to be filed with the SEC, the failure to remove certain trading restrictions, or failure to deliver reports to the Notes Trustee. The 2030 Notes rank senior in right of payment to any of the Company’s indebtedness that is expressly subordinated to the 2030 Notes and rank equal in right of payment to any of the Company’s unsecured indebtedness that is not so subordinated, including the 2025 Notes and 2027 Notes. In addition, the 2030 Notes are effectively junior in right of payment to any of the Company's secured indebtedness to the extent of the </div><div style="margin-top:12pt">value of the assets securing such indebtedness, and structurally junior to all indebtedness and other liabilities (including trade payables) of the Company's subsidiaries.</div><div style="margin-top:12pt;text-indent:36pt">The 2030 Notes have an initial conversion rate of 8.3718 shares of common stock per $1,000 principal amount, which is equivalent to an initial conversion price of $119.45 per share of the Company’s common stock and 11.7 million shares issuable upon conversion. The conversion rate is subject to customary adjustments for certain events as described below. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of its common stock, or a combination of cash and shares of its common stock, at the Company's election. The Company’s current intent is to settle conversions of the 2030 Notes through a combination settlement, which involves a repayment of the principal portion in cash with any excess of the conversion value over the principal amount settled in shares of common stock.</div><div style="margin-top:12pt;text-indent:36pt">The Company may redeem for cash, all or any portion of the 2030 Notes, at the Company’s option, on or after December 1, 2027 if the last reported sale price of the Company’s common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on and including the trading day preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus any accrued and unpaid special interest to, but excluding, the redemption date. No sinking fund is provided for the 2030 Notes. The holders of the 2030 Notes may convert their notes at their option at any time prior to the close of business on the business day immediately preceding January 1, 2030 in multiples of $1,000 principal amount, under the following circumstances:</div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt">•during any calendar quarter commencing after the calendar quarter ending on December 31, 2024, and only during such calendar quarter, if the last reported sale price of the Company's common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on and including the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day;</div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt">•during the 5 business day periods after any 5 consecutive trading day period in which the trading price per $1,000 principal amount of the 2030 Notes for each trading day of that period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate on each such trading day;</div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt">•if the Company calls such notes for redemption, at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date; or</div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt">•upon the occurrence of specified corporate events.</div><div style="margin-top:12pt;text-indent:36pt">The conversion rate is subject to adjustment upon the occurrence of certain events or if the Company’s board of directors determines it is in the best interest of the Company. Additionally, holders of the 2030 Notes that convert their notes in connection with a make-whole fundamental change or during the redemption period, may be eligible to receive a make-whole premium through an increase of the conversion rate based on the estimated fair value of the 2030 Notes for the given date and stock price. The make-whole premium is designed to compensate the holder for lost “time-value” of the conversion option. The maximum number of additional shares that may be issued under the make-whole premium is 2.9301 per $1,000 principal (the lowest price of $88.48 in the make whole).</div><div style="margin-top:12pt;text-indent:36pt">The indenture governing the 2030 Notes contains customary events of default with respect to the 2030 Notes and provides that upon certain events of default occurring and continuing, the holders of the 2030 Notes will have the right, at their option, to require the Company to repurchase for cash all or a portion of their outstanding notes, at a price equal to 100% of the principal amount of the 2030 Notes to be repurchased, plus any accrued and unpaid interest.</div><div style="margin-top:12pt">2027 Notes</div><div style="margin-top:12pt;text-indent:36pt">On September 24, 2021, the Company issued $575.0 million in aggregate principal amount of its 0% convertible senior notes due on April 1, 2027, in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the 2027 Notes). The 2027 Notes are subject to the terms and conditions of the indenture governing the 2027 Notes between the Company and the Notes Trustee. </div><div style="margin-top:12pt">The net proceeds from the issuance of the 2027 Notes were $560.1 million, after deducting debt discount and debt issuance costs totaling $14.9 million.</div><div style="margin-top:12pt;text-indent:36pt">The 2027 Notes are senior, unsecured obligations of the Company, and will not accrue interest unless the Company determines to pay special interest as a remedy for failure to timely file any reports required to be filed with the SEC, certain trading restrictions or failure to deliver reports to the Notes Trustee. The 2027 Notes rank senior in right of payment to any of the Company’s indebtedness that is expressly subordinated to the 2027 Notes and rank equal in right of payment to any of the Company’s unsecured indebtedness that is not so subordinated, including the 2025 Notes. In addition, the 2027 Notes are subordinated to any of the Company’s secured indebtedness and to all indebtedness and other liabilities of the Company’s subsidiaries. </div><div style="margin-top:12pt;text-indent:36pt">The 2027 Notes have an initial conversion rate of 2.4108 shares of common stock per $1,000 principal amount, which is equivalent to an initial conversion price of approximately $414.80 per share of the Company’s common stock. The conversion rate is subject to customary adjustments for certain events as described below. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of its common stock, or a combination of cash and shares of its common stock, at its election. The Company’s current intent is to settle conversions of the 2027 Notes through a combination settlement, which involves a repayment of the principal portion in cash with any excess of the conversion value over the principal amount settled in shares of common stock.</div><div style="margin-top:12pt;text-indent:36pt">The Company may redeem for cash, all or any portion of the 2027 Notes, at the Company’s option, on or after October 5, 2024 if the last reported sale price of the Company’s common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on and including the trading day (Conversion Condition) preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus any accrued and unpaid special interest to, but excluding, the redemption date. No sinking fund is provided for the 2027 Notes. </div><div style="margin-top:12pt;text-indent:36pt">The holders of the 2027 Notes may convert their notes at their option at any time prior to the close of business on the business day immediately preceding January 1, 2027 in multiples of $1,000 principal amount, under the following circumstances:</div><div style="margin-top:12pt;padding-left:36pt;text-indent:-18pt">•during any calendar quarter commencing after the calendar quarter ending on December 31, 2021, and only during such calendar quarter, if the last reported sale price of the Company's common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on and including the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day;</div><div style="margin-top:12pt;padding-left:36pt;text-indent:-18pt">•during the five business day periods after any five consecutive trading day period in which the trading price per $1,000 principal amount of the 2027 Notes for each trading day of that period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate on each such trading day;</div><div style="margin-top:12pt;padding-left:36pt;text-indent:-18pt">•if the Company calls such notes for redemption, at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date; or</div><div style="margin-top:12pt;padding-left:36pt;text-indent:-18pt">•upon the occurrence of specified corporate events.</div><div style="margin-top:12pt;text-indent:36pt">The conversion rate is subject to adjustment upon the occurrence of certain events or if the Company’s board of directors determines it is in the best interest of the Company. Additionally, holders of the 2027 Notes that convert their notes in connection with a make-whole fundamental change or during the redemption period, may be eligible to receive a make-whole premium through an increase of the conversion rate based on the estimated fair value of the 2027 Notes for the given date and stock price. The make-whole premium is designed to compensate the holder for lost “time-value” of the conversion option. The maximum number of additional shares that may be issued under the make-whole premium is 1.2656 per $1,000 principal (the lowest price of $272.00 in the make whole).</div><div style="margin-top:12pt;text-indent:36pt">The indenture governing the 2027 Notes contains customary events of default with respect to the 2027 Notes and provides that upon certain events of default occurring and continuing, the holders of the 2027 Notes will have the right, at their option, to require the Company to repurchase for cash all or a portion of their outstanding notes, at a price equal to 100% of the principal amount of the 2027 Notes to be repurchased, plus any accrued and unpaid interest.</div><div style="margin-top:12pt;text-indent:36pt">On December 6, 2024, using proceeds from the issuance of the 2030 Notes, the Company entered into privately negotiated transactions with certain holders of its 2027 Notes to repurchase $451.5 million aggregate principal amount for an aggregate cash repurchase price of $408.6 million. The carrying amount of the extinguished 2027 Notes was $446.5 million, net of unamortized issuance cost of $5.0 million, resulting in a $37.9 million gain recorded in other income, net in the accompanying consolidated statements of operations.</div><div style="margin-top:12pt;text-indent:36pt">The shares issuable upon conversion of the remaining outstanding 2027 Notes at the initial conversion price is 0.3 million.</div><div style="margin-top:12pt;text-indent:36pt">The "if-converted" value of the 2030 and 2027 Notes did not exceed the principal amount of $1.5 billion and $1.6 billion as of June 30, 2026 and 2025, respectively.</div><div style="margin-top:12pt">2025 Notes</div><div style="margin-top:12pt;text-indent:36pt">On November 30, 2020, the Company issued $1.15 billion in aggregate principal amount of its 0% convertible senior notes due on December 1, 2025, in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the 2025 Notes, and together with the 2027 Notes and 2030 Notes, the Notes). The 2025 Notes were subject to the terms and conditions of the indenture governing the 2025 Notes between the Company and the Notes Trustee. The net proceeds from the issuance of the 2025 Notes were $1.13 billion, after deducting debt discount and debt issuance costs totaling $20.6 million.</div><div style="margin-top:12pt;text-indent:27.78pt">On March 6, 2024, the Company entered into privately-negotiated transactions with certain holders of its 2025 Notes to repurchase $748.2 million aggregate principal amount of the 2025 Notes for an aggregate cash repurchase price of $711.0 million, inclusive of transaction costs. The carrying amount of the extinguished 2025 Notes was $743.6 million, net of unamortized issuance cost of $4.6 million, resulting in a $32.6 million gain recorded in other income, net in the accompanying consolidated statements of operations, comprised of $35.7 million gain on extinguishment of debt and $3.2 million loss on mark to market derivative related to forward contract to settle the repurchase.</div><div style="margin-top:12pt;text-indent:27.78pt">On May 29, 2024, the Company entered into privately-negotiated transactions with certain holders of its 2025 Notes to repurchase $234.5 million aggregate principal amount of the 2025 Notes for an aggregate cash repurchase price of $221.6 million, inclusive of transaction costs. The carrying amount of the extinguished 2025 Notes was $233.2 million, net of unamortized issuance cost of $1.2 million, resulting in a $11.0 million gain on extinguishment of debt recorded in other income, net in the accompanying consolidated statements of operations.</div><div style="margin-top:12pt;text-indent:27.78pt">On December 6, 2024, using proceeds from the issuance of the 2030 Notes, the Company entered into privately negotiated transactions with certain holders of its 2025 Notes to repurchase $133.9 million aggregate principal amount of the 2025 Notes for an aggregate cash repurchase price of $130.8 million, inclusive of transaction costs. The carrying amount of the extinguished 2025 Notes was $133.4 million, net of unamortized issuance cost of $0.5 million, resulting in a $2.6 million gain recorded in other income, net in the accompanying consolidated statements of operations.</div><div style="margin-top:12pt;text-indent:27.78pt">On December 1, 2025, upon maturity of the 2025 Notes, the Company settled the remaining $33.5 million aggregate principal amount of the 2025 Notes in cash.</div><div style="margin-top:12pt">Capped Call Transactions</div><div style="margin-top:12pt;text-indent:36pt">In conjunction with the issuance of the 2027 Notes and 2030 Notes, the Company entered into capped call transactions (collectively, the Capped Calls) with certain financial institutions at a total cost of $130.9 million. The Capped Calls are separate transactions and are not part of the terms of the Notes. The total amount paid </div><div style="margin-top:12pt">for the Capped Calls was recorded as a reduction of additional paid-in capital. The Company used a portion of the proceeds from the Notes to pay for the cost of the applicable Capped Call premium. The cost of the Capped Calls is not expected to be tax-deductible as the Company did not elect to integrate the Capped Calls into the Notes for tax purposes.</div><div style="margin-top:12pt;text-indent:36pt">The Capped Calls associated with the 2027 Notes and 2030 Notes have an initial strike price of $414.80 and $119.45 per share, respectively, subject to certain adjustments, which corresponds to the respective initial conversion price of the 2027 Notes and 2030 Notes, and have an initial cap price of $544.00 and $154.84 per share, respectively, subject to certain adjustments; provided that such cap price shall not be reduced to an amount less than their respective strike price. The Capped Calls associated with the 2027 Notes and 2030 Notes cover, subject to anti-dilution adjustments, a total of approximately 0.3 million and 11.7 million shares, respectively, of the Company’s common stock. The Capped Calls are expected to generally reduce the potential dilution of the Company’s common stock upon any conversion of the 2027 Notes and 2030 Notes and/or offset any cash payments that the Company is required to make in excess of the principal amount of such converted notes, as the case may be, with such reduction and/or offset subject to a cap.</div><div style="margin-top:12pt;text-indent:36pt">In conjunction with the issuance of the 2025 Notes, the Company entered into similar capped call transaction. In fiscal 2024, the Company terminated such capped call transaction and received $11.4 million in cash, and also recorded a $1.7 million gain on mark to market derivative in other income, net in the accompanying consolidated statements of operations.</div><div style="margin-top:12pt">Revolving Credit Facilities</div><div style="margin-top:12pt">2021 Credit Facility</div><div style="margin-top:12pt;text-indent:36pt">The Company’s Revolving Credit and Security Agreement by and among Divvy Peach, LLC, a Delaware limited liability company and wholly-owned subsidiary of the Company (Divvy Peach), and Goldman Sachs Bank USA, as administrative agent, and the lenders party thereto (as amended from time to time, the 2021 Credit Facility) was initially executed in March 2021, amended in August 2022 to finance the acquisition of card receivables from the Company by Divvy Peach (Divvy Peach Receivables) and is secured by such Divvy Peach Receivables and certain related collateral, and subject to a limited guarantee by BILL Holdings, Inc. On October 29, 2025, the Company further amended the 2021 Credit Facility to extend the maturity date and reduce the interest rate from 2.65% to 1.95% plus SOFR (subject to a floor rate of 0.25%) per annum. The 2021 Credit Facility matures in May 2028 or earlier pursuant to the agreement and has a total commitment of $300.0 million. The required minimum utilization was $180.0 million, or 60% of the total commitment. Total outstanding borrowings were $180.0 million as of June 30, 2026. </div><div style="margin-top:12pt">2025 Credit Facility</div><div style="margin-top:12pt;text-indent:36pt">The Company's Revolving Credit and Security Agreement by and among Odin Financing, LLC, a Delaware limited liability company and wholly-owned subsidiary of the Company, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto (the 2025 Credit Facility and, together with the 2021 Credit Facility, the Revolving Credit Facilities)) was executed in May 2025 to finance the acquisition of card receivables from the Company by Odin (Odin Receivables), and is secured by such Odin Receivables and certain related collateral, and subject to a limited guarantee by BILL Holdings, Inc. Borrowings bear interest per annum based on SOFR or an adjusted benchmark rate plus an applicable margin of 1.80%. The 2025 Credit Facility matures in November 2027 or earlier pursuant to the agreement and has a total commitment of $300.0 million. The required minimum utilization is $150.0 million, or 50% of the total commitment, starting two months after execution of the agreement. Total outstanding borrowings were $150.0 million as of June 30, 2026.</div><div style="margin-top:12pt;text-indent:36pt">Under each of the Revolving Credit Facilities, the Company is required to comply with certain restricted covenants, including liquidity requirements. As of June 30, 2026, the Company was in compliance with such covenants.</div><div style="margin-top:12pt;text-indent:36pt">While the financial statements of Divvy Peach and Odin are consolidated with those of the Company in the accompanying consolidated financial statements, each of Divvy Peach and Odin are separate legal entities from the Company. The respective assets of Divvy Peach (including the Divvy Peach Receivables) and Odin (including the Odin Receivables) are owned by Divvy Peach and Odin, respectively, and are solely available to satisfy their respective creditors.</div>

<div style="margin-top:12pt;padding-left:36pt">Debt and borrowings consisted of the following (in thousands):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.960%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Carrying Value at</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Expected Remaining Term (years)</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Annualized Effective</div><div style="text-align:center">Interest Rate at June 30, 2026</div></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div>Current liabilities:</div></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Convertible senior notes:</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt">2025 Notes, principal</div></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">33,463 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">2027 Notes, principal</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">123,548 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">0.8</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">0.48 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">Less: unamortized debt discount and issuance costs</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(491)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(42)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 25pt;text-align:left;vertical-align:bottom">Convertible senior notes, net current</td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">123,057 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">33,421 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Revolving credit facility:</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">2021 Credit Facility</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">180,005 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24pt">Borrowings from revolving credit facility (1)</div></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">180,005 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Non-current liabilities:</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Convertible senior notes:</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">2030 Notes, principal</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,400,000 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,400,000 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">3.8</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">0.32 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">2027 Notes, principal</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">123,548 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">Less: unamortized debt discount and issuance costs</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(16,934)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(22,504)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 25pt;text-align:left;vertical-align:bottom">Convertible senior notes, net</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,383,066 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,501,044 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Revolving credit facilities:</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">2021 Credit Facility</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">180,000 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">1.8</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6.43 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom">2025 Credit Facility</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">150,000 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">1.4</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6.05 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24pt">Borrowings from revolving credit facilities (1)</div></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">330,000 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Total </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,836,123 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,714,470 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr></table></div><div style="margin-top:6pt;padding-left:18pt">(1) Unamortized debt issuance costs balance for the Revolving Credit Facilities was $1.6 million and $2.1 million as of June 30, 2026 and June 30, 2025, respectively, and is included in other assets on the consolidated balance sheets.</div>

33463000

123548000

P0Y9M18D

0.0048

491000

42000

123057000

33421000

180005000

1400000000

P3Y9M18D

0.0032

123548000

16934000

22504000

1383066000

1501044000

180000000

P1Y9M18D

0.0643

150000000

P1Y4M24D

0.0605

330000000

1836123000

1714470000

1600000

2100000

1400000000

1380000000

24000000.0

119.45

11700000

2027-12-01

1.30

2030-01-01

1000

1.30

P5Y P5Y 1000 0.98 2.9301 88.48 1

575000000.0

560100000

14900000

414.80

2024-10-05

1.30

2027-01-01

1000

1.30

0.98 1.2656 272.00 1

451500000

408600000

446500000

5000000.0

37900000 300000

1500000000

1600000000

1150000000

1130000000

20600000

748200000

711000000.0

743600000

4600000

32600000

35700000

3200000

234500000

221600000

233200000

1200000

11000000.0

133900000

130800000

133400000

500000

2600000

33500000

130900000 130900000 414.80 119.45 544.00 154.84 300000 11700000

11400000

1700000

0.0265

0.0195

0.0025

300000000.0

180000000.0 0.60

180000000.0

0.0180

300000000.0

150000000.0 0.50 P2M

150000000.0

STOCKHOLDERS’ EQUITY <div style="margin-top:12pt">Equity Incentive Plans</div><div style="margin-top:12pt;text-indent:36pt">On November 26, 2019, the Company’s board of directors approved the 2019 Equity Incentive Plan (2019 Plan), which became effective on December 10, 2019. The 2019 Plan authorizes the award of stock options, RSUs, restricted stock awards, stock appreciation rights, performance-based awards, market-based awards, cash awards, and stock bonus awards, as determined by the Company’s board of directors.</div><div style="margin-top:12pt;text-indent:36pt">The Company initially reserved 7,100,000 shares of its common stock, plus any reserved shares not issued or subject to outstanding grants under previous equity incentive plans, for issuance pursuant to awards granted under the 2019 Plan. The number of shares reserved for issuance under the 2019 Plan increases automatically on July 1 of each of 2020 through 2029 by the number of shares equal to the lesser of 5% of the total number of outstanding shares of the Company’s common stock as of the immediately preceding June 30, or a number as may be determined by the Company’s board of directors.</div><div style="margin-top:12pt;text-indent:36pt">The total number of shares of common stock available for future grants under the 2019 Plan was 22,761,620 shares as of June 30, 2026.</div><div style="margin-top:12pt">Restricted Stock Units</div><div style="margin-top:12pt;text-indent:36pt">The following table summarizes RSU activity for the year ended June 30, 2026.</div><div style="margin-top:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.696%"><tr><td style="width:1.0%"></td><td style="width:71.696%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.273%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.407%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.124%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Number of</div><div style="text-align:center">shares (1)</div><div style="text-align:center">(in thousands) </div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Weighted average grant date fair value</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div>Nonvested at June 30, 2025</div></td><td colspan="2" style="background-color:#ffece2;border-top:0.75pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">7,886 </td><td style="background-color:#ffece2;border-top:0.75pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:0.75pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:0.75pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">67.67 </td><td style="background-color:#ffece2;border-top:0.75pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Granted</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,276 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">46.72 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Vested</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(3,424)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">71.47 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Forfeited</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,760)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">64.14 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div>Nonvested at June 30, 2026</div></td><td colspan="2" style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:0.75pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">5,978 </td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:0.75pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">55.22 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt;padding-left:18pt">(1) Includes RSU, market-based RSUs and performance-based RSUs.</div><div style="margin-top:12pt;text-indent:36pt">The fair value of the RSU grant is determined based upon the market closing price of the Company’s common stock on the date of grant. The weighted-average grant date fair value of RSUs granted during the years ended June 30, 2026, 2025, and 2024 was $46.72, $53.03, and $90.90 per share, respectively. The RSUs vest over the requisite service period, which ranges between 1 year and 4 years from the date of grant, subject to the continued employment of the employees and services of the non-employee directors. The total fair value of RSUs that vested during the years ended June 30, 2026, 2025, and 2024 was approximately $152.0 million, $145.7 million, and $145.1 million, respectively.</div><div style="margin-top:12pt">Performance-based RSUs</div><div style="margin-top:12pt;text-indent:36pt">During the year ended June 30, 2026 the Company granted 198,512 RSUs to certain executive employees that vest based upon the achievement of designated financial metrics and continued employment with the Company over a period of three years. The fair value of the performance-based RSU grant is determined based upon the market closing price of the Company’s common stock on the date of grant. The weighted-average grant date fair value of these performance-based RSUs was $52.23 per unit. The Company recognizes expense for performance-based RSUs over the requisite service period. For any change in the estimate of the number of performance-based RSUs that are probable of vesting, the Company will cumulatively adjust compensation expense in the period that the change in estimate is made. The number of shares that ultimately vest vary with the achievement of the specified performance criteria.</div><div style="margin-top:18pt">Stock Based Compensation</div><div style="margin-top:12pt;text-indent:36pt">Stock-based compensation by award type (in thousands):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:35.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.566%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.566%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.566%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.778%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.782%"></td><td style="width:0.1%"></td></tr><tr style="height:36pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Year ended</div><div style="text-align:center">June 30,</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Unrecognized compensation </div><div style="text-align:center">(in thousands) </div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:12pt;text-align:center">Weighted-average recognition period (in years)</div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div>Restricted stock units (RSUs)</div></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top">226,383 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top">228,374 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top">217,696 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top">216,756 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">2.0</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Performance-based awards</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">14,665 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">12,911 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">13,351 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">10,726 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">1.7</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Employee stock purchase plan</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">5,974 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">6,063 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">9,129 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">3,558 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">0.9</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Market-based RSUs</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">4,934 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">6,101 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">5,912 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">9,690 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">1.7</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Stock options</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">476 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">2,964 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">10,719 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 7pt 1.5pt 1pt;text-align:right;vertical-align:top">—</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">0.0</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="text-indent:12pt">Total stock-based compensation</div></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top">252,432 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top">256,413 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top">256,807 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top">240,730 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr></table></div><div style="margin-top:12pt;text-indent:36pt">Stock-based compensation was included in the following line items in the accompanying consolidated statements of operations and consolidated balance sheets (in thousands):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.084%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Year ended June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Revenue - subscription and transaction fees</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">2,449 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">2,329 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,831 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Cost of revenue - service costs</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">8,554 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">9,627 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">9,309 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Research and development</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">92,456 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">107,603 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">103,382 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Sales and marketing</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">32,752 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">39,992 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">49,070 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">General and administrative</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">78,082 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">82,981 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">81,209 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Restructuring</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">15,485 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,574 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Total amount charged to operating loss</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">229,778 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">242,532 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">248,375 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Property and equipment (capitalized internal-use software)</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">22,654 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">13,881 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">8,432 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Total stock-based compensation</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">252,432 </td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">256,413 </td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">256,807 </td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt">Share Repurchase Program</div><div style="margin-top:12pt;text-indent:36pt">In January 2023, the Company's board of directors authorized the repurchase of up to $300.0 million of the Company's outstanding shares of common stock (the January 2023 Share Repurchase Program). The Company completed the repurchase of shares with an aggregate value equal to the full authorized amount under the January 2023 Share Repurchase Program by December 31, 2023.</div><div style="margin-top:12pt;text-indent:36pt">In August 2024, the Company's board of directors approved a share repurchase program, pursuant to which the Company announced its intention to purchase up to $300.0 million of its outstanding shares of common stock (the August 2024 Share Repurchase Program). In July 2025, the Company completed the repurchase of shares under the August 2024 Share Repurchase Program. </div><div style="margin-top:12pt;text-indent:36pt">In August 2025, the Company's board of directors authorized the repurchase of up to $300.0 million in shares of its outstanding common stock (the August 2025 Share Repurchase Program). </div><div style="margin-top:12pt;text-indent:36pt">In May 2026, the Company announced that the Company's board of directors authorized the repurchase of up to $1.0 billion in shares of its outstanding common stock, which authorization includes unused amounts under the August 2025 Share Repurchase Program (the 2026 Share Repurchase Authorization). Pursuant to this authorization, the Company may repurchase such shares from time to time through open market purchases, in privately negotiated transactions, or by other means, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, in accordance with applicable securities laws and other restrictions. The timing and total amount of stock </div><div style="margin-top:12pt">repurchases will depend upon business, economic and market conditions, corporate and regulatory requirements, prevailing stock prices, and other considerations. This authorization has a term of 24 months, may be suspended, discontinued or modified at any time, and does not obligate the Company to acquire any amount of common stock.</div><div style="margin-top:12pt;text-indent:36pt">The table below sets forth information regarding repurchases made pursuant to the Company's share repurchase programs as of June 30, 2026 (in thousands, except per share data):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.848%"><tr><td style="width:1.0%"></td><td style="width:48.520%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.039%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.039%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.039%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.045%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Period</td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Shares repurchased</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div>Total amount repurchased(1)</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div>Average price paid per share(1)</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Available for future share repurchases</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Fiscal 2024</td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:12pt;padding-left:12pt">January 2023 Share Repurchase Program</div></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,883 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">211,885 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">73.49 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 25pt;text-align:left;vertical-align:bottom">Total</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,883 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">211,885 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Fiscal 2025</td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:12pt;padding-left:12pt">August 2024 Share Repurchase Program</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,487 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">236,725 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">52.76 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 25pt;text-align:left;vertical-align:bottom">Total</td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,487 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">236,725 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Fiscal 2026</td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:12pt;padding-left:12pt">August 2024 Share Repurchase Program</div></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,392 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">65,454 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">47.02 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:12pt;padding-left:12pt">August 2025 Share Repurchase Program</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,862 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">201,340 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">52.13 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">2026 Share Repurchase Authorization</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">8,434 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">300,473 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">35.63 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">702,170 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 25pt;text-align:left;vertical-align:bottom">Total</td><td colspan="2" style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">13,688 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">567,267 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr></table></div><div style="margin-top:6pt;padding-left:18pt">(1) Amounts include an immaterial amount of accrued excise tax.</div><div style="margin-top:12pt;text-indent:36pt">In addition, in December 2024, the Company's board of directors approved the repurchase of up to an additional $200.0 million of its outstanding shares of common stock in connection with the issuance of the 2030 Notes. The Company repurchased 2,260,397 shares of its common stock for $201.4 million, which included an immaterial amount of accrued excise tax, in privately negotiated transactions concurrently with the pricing of, and using proceeds from, the issuance of the 2030 Notes.</div><div style="margin-top:12pt;text-indent:36pt">The total price of the shares repurchased and related transaction costs are reflected as a reduction of common stock and an increase to accumulated deficit on the accompanying consolidated balance sheets.</div>

7100000

0.05

22761620

<div style="margin-top:12pt;text-indent:36pt">The following table summarizes RSU activity for the year ended June 30, 2026.</div><div style="margin-top:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.696%"><tr><td style="width:1.0%"></td><td style="width:71.696%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.273%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.407%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.124%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Number of</div><div style="text-align:center">shares (1)</div><div style="text-align:center">(in thousands) </div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Weighted average grant date fair value</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div>Nonvested at June 30, 2025</div></td><td colspan="2" style="background-color:#ffece2;border-top:0.75pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">7,886 </td><td style="background-color:#ffece2;border-top:0.75pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:0.75pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:0.75pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">67.67 </td><td style="background-color:#ffece2;border-top:0.75pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Granted</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,276 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">46.72 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Vested</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(3,424)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">71.47 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Forfeited</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,760)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">64.14 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div>Nonvested at June 30, 2026</div></td><td colspan="2" style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:0.75pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">5,978 </td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:0.75pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">55.22 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt;padding-left:18pt">(1) Includes RSU, market-based RSUs and performance-based RSUs.</div>

7886000

67.67

3276000

46.72

3424000

71.47

1760000

64.14

5978000

55.22

46.72

53.03

90.90

P1Y

P4Y

152000000.0

145700000

145100000

198512

P3Y

52.23

<div style="margin-top:12pt;text-indent:36pt">Stock-based compensation by award type (in thousands):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:35.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.566%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.566%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.566%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.778%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.782%"></td><td style="width:0.1%"></td></tr><tr style="height:36pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Year ended</div><div style="text-align:center">June 30,</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Unrecognized compensation </div><div style="text-align:center">(in thousands) </div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:12pt;text-align:center">Weighted-average recognition period (in years)</div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div>Restricted stock units (RSUs)</div></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top">226,383 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top">228,374 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top">217,696 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top">216,756 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">2.0</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Performance-based awards</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">14,665 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">12,911 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">13,351 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">10,726 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">1.7</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Employee stock purchase plan</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">5,974 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">6,063 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">9,129 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">3,558 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">0.9</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Market-based RSUs</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">4,934 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">6,101 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">5,912 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">9,690 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">1.7</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Stock options</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">476 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">2,964 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top">10,719 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 7pt 1.5pt 1pt;text-align:right;vertical-align:top">—</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">0.0</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="text-indent:12pt">Total stock-based compensation</div></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top">252,432 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top">256,413 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top">256,807 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top">240,730 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr></table></div><div style="margin-top:12pt;text-indent:36pt">Stock-based compensation was included in the following line items in the accompanying consolidated statements of operations and consolidated balance sheets (in thousands):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.084%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Year ended June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Revenue - subscription and transaction fees</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">2,449 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">2,329 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,831 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Cost of revenue - service costs</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">8,554 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">9,627 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">9,309 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Research and development</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">92,456 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">107,603 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">103,382 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Sales and marketing</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">32,752 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">39,992 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">49,070 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">General and administrative</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">78,082 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">82,981 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">81,209 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Restructuring</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">15,485 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,574 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Total amount charged to operating loss</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">229,778 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">242,532 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">248,375 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Property and equipment (capitalized internal-use software)</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">22,654 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">13,881 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">8,432 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Total stock-based compensation</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">252,432 </td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">256,413 </td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">256,807 </td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

226383000

228374000

217696000

216756000

P2Y

14665000

12911000

13351000

10726000

P1Y8M12D

5974000

6063000

9129000

3558000

P0Y10M24D

4934000

6101000

5912000

9690000

P1Y8M12D

476000

2964000

10719000

P0Y

252432000

256413000

256807000

240730000

2449000

2329000

1831000

8554000

9627000

9309000

92456000

107603000

103382000

32752000

39992000

49070000

78082000

82981000

81209000

15485000

3574000

229778000

242532000

248375000

22654000

13881000

8432000

252432000

256413000

256807000

300000000.0 300000000.0 300000000.0 1000000000.0

P24M

<div style="margin-top:12pt;text-indent:36pt">The table below sets forth information regarding repurchases made pursuant to the Company's share repurchase programs as of June 30, 2026 (in thousands, except per share data):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.848%"><tr><td style="width:1.0%"></td><td style="width:48.520%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.039%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.039%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.039%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.045%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Period</td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Shares repurchased</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div>Total amount repurchased(1)</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div>Average price paid per share(1)</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Available for future share repurchases</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Fiscal 2024</td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:12pt;padding-left:12pt">January 2023 Share Repurchase Program</div></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,883 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">211,885 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">73.49 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 25pt;text-align:left;vertical-align:bottom">Total</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,883 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">211,885 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Fiscal 2025</td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:12pt;padding-left:12pt">August 2024 Share Repurchase Program</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,487 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">236,725 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">52.76 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 25pt;text-align:left;vertical-align:bottom">Total</td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,487 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">236,725 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Fiscal 2026</td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:12pt;padding-left:12pt">August 2024 Share Repurchase Program</div></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,392 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">65,454 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">47.02 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:12pt;padding-left:12pt">August 2025 Share Repurchase Program</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,862 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">201,340 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">52.13 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">2026 Share Repurchase Authorization</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">8,434 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">300,473 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">35.63 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">702,170 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 25pt;text-align:left;vertical-align:bottom">Total</td><td colspan="2" style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">13,688 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">567,267 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr></table></div><div style="margin-top:6pt;padding-left:18pt">(1) Amounts include an immaterial amount of accrued excise tax.</div>

2883000

211885000

73.49

2883000

211885000

4487000

236725000

52.76

4487000

236725000

1392000

65454000

47.02

3862000

201340000

52.13

8434000

300473000

35.63

702170000

13688000

567267000

200000000.0

2260397

201400000

OTHER INCOME, NET<div style="margin-top:12pt;text-indent:36pt">Other income, net consisted of the following for the periods presented (in thousands): </div><div style="margin-top:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.084%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Year ended</div><div style="text-align:center">June 30, </div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Interest income</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">91,413 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">90,903 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">122,298 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Gain on debt extinguishment, net of change on mark to market derivatives</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">40,550 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">45,272 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Interest expense</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(19,435)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(13,824)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(12,944)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div>Amortization of debt discount and issuance costs</div></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(6,434)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(4,739)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(6,238)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(2,228)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,878)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(543)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt">Total other income, net</div></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">63,316 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">111,012 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">147,845 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

<div style="margin-top:12pt;text-indent:36pt">Other income, net consisted of the following for the periods presented (in thousands): </div><div style="margin-top:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.084%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Year ended</div><div style="text-align:center">June 30, </div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Interest income</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">91,413 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">90,903 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">122,298 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Gain on debt extinguishment, net of change on mark to market derivatives</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">40,550 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">45,272 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Interest expense</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(19,435)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(13,824)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(12,944)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div>Amortization of debt discount and issuance costs</div></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(6,434)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(4,739)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(6,238)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(2,228)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,878)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(543)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt">Total other income, net</div></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">63,316 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">111,012 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">147,845 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

91413000 90903000 122298000 0 40550000 45272000

-19435000

-13824000

-12944000

6434000

4739000

6238000

2228000

1878000

543000

63316000

111012000

147845000

INCOME TAXES <div style="margin-top:12pt;text-indent:36pt">The components of income (loss) before provision for income taxes were as follows during the periods presented (in thousands):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.084%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Year ended </div><div style="text-align:center">June 30, </div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Domestic</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(17,325)</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(43,567)</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">5,312 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Foreign</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">7,194 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">73,977 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(31,631)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top">Total income (loss) before provision for income taxes</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(10,131)</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">30,410 </td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(26,319)</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-indent:36pt">The components of provision for income taxes were as follows during the periods presented (in thousands):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.084%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Year ended</div><div style="text-align:center">June 30, </div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Current:</td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top">Federal</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(205)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">3,850 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,650 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top">State</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,033 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,758 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,251 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top">Foreign</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">80 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">19 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Total current</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">830 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,688 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,920 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Deferred:</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top">Federal</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">205 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(32)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(262)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top">State</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">75 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(45)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(99)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Total deferred</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">280 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(77)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(361)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Provision for income taxes</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,110 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">6,611 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">2,559 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-indent:36pt">The items accounting for the difference between the income taxes computed at the U.S. federal statutory tax rate and the provision for income taxes after the adoption of ASU 2023-09 consisted of the following during the period presented (in thousands, except percentages):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-bottom:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Year e ded June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">U.S. federal statutory tax rate</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(2,127)</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">21 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">State and local income taxes, net of federal income tax effect</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">947 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(9)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Foreign tax effects</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Australia</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 25pt;text-align:left;vertical-align:top">Statutory tax rate difference</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">647 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(6)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:24pt">Internal restructuring (1)</div></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">24,227 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(239)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:24pt">Changes in valuation allowances (1)</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(26,439)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">261 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 25pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">57 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Effect of cross-border tax laws</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Tax effects of foreign disregarded entity</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,509 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(15)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Tax credits</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Research and development tax credits</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(7,355)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">73 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div>Changes in valuation allowances (1)</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(17,218)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">170 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Nontaxable or nondeductible items</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:12pt">Stock-based compensation (2)</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">20,772 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(205)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Limitation on executive compensation</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">5,588 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(55)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Nondeductible meals</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">658 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(7)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Other adjustments</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(166)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Provision for income taxes and effective tax rate</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,110 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(11)</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr></table></div><div style="margin-top:12pt;text-indent:36pt">The Company's effective tax rates for the years ended June 30, 2025, and 2024, were 22% and (10)%, respectively. The items accounting for the difference between the income taxes computed at the U.S. federal statutory tax rate and the provision for income taxes prior to adoption of ASU 2023-09 consisted of the following during the periods presented (in thousands): </div><div style="margin-top:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Year ended</div><div style="text-align:center">June 30, </div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Expected provision (benefit) at U.S. federal statutory rate</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">6,386 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(5,528)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">State income taxes, net of federal benefit</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">7,325 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">9,134 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div>Stock-based compensation (2)</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">19,204 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">24,300 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Research and development tax credits</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(23,383)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(24,039)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div>Change in valuation allowance (3)</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,939 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,943 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Restructuring</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(13,769)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Foreign rate differential</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(15,455)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,658 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,595 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">860 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:top">Provision for income taxes</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">6,611 </td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">2,559 </td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt;padding-left:18pt">(1) The rate impact during the year ended June 30, 2026 pertains to a decrease in valuation allowance due to the decrease in net deferred tax assets during the year. (2) The rate impact during the year ended June 30, 2026, 2025 and 2024 relates to the impact of non-deductible stock compensation and shortfalls related to tax deductions being smaller than the associated stock compensation expense.</div><div style="margin-top:6pt;padding-left:18pt">(3) The rate impact during the year ended June 30, 2025 and 2024 pertains to an increase in valuation allowance due to the increase in net deferred tax assets, capitalized R&D expense and tax credits generated during the year.</div><div style="margin-top:12pt;text-indent:36pt">The components of deferred tax assets and liabilities were as follows as of the dates presented (in thousands): </div><div style="margin-top:6pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Deferred tax assets:</td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Accruals and reserves</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">15,808 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">17,888 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Capitalized research and development</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">123,090 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">160,755 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Stock-based compensation</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">12,822 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">19,532 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Net operating and other loss carryforwards</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">267,807 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">280,004 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Research and development credits</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">108,218 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">99,626 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Operating lease liabilities</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">15,460 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">17,874 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:12pt">Other (1)</div></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">783 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,842 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:30pt">Total deferred tax assets before valuation allowance</div></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">543,988 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">599,521 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 31pt;text-align:left;vertical-align:top">Valuation allowance</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(455,485)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(503,692)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 31pt;text-align:left;vertical-align:top">Deferred tax assets</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">88,503 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">95,829 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Deferred tax liabilities:</td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Deferred contract costs</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(6,940)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(6,603)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Property and equipment</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(30,106)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(22,253)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Intangible assets</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(38,436)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(53,280)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Operating right of use assets</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(12,056)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(14,066)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:12pt">Other</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,617)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 31pt;text-align:left;vertical-align:top">Total deferred tax liabilities</td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(89,155)</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(96,202)</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Net deferred tax liabilities</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(652)</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(373)</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt;padding-left:18pt">(1) Fiscal 2025 amounts have been conformed to the fiscal 2026 presentation.</div><div style="margin-top:12pt;text-indent:36pt">Accounting Standards Codification 740 requires that the tax benefit of net operating losses, temporary differences, and credit carryforwards be recorded as an asset to the extent that management assesses that realization is “more likely than not.” Realization of the future tax benefits is dependent on the Company’s ability to generate sufficient taxable income within the carryforward period. Because of the Company’s recent history of operating losses, management believes that recognition of the deferred tax assets arising from the above-mentioned future tax benefits is currently not likely to be realized and, accordingly, has provided a valuation allowance. The change in valuation allowance was a decrease of $48.2 million, an increase of $9.3 million, and an increase of $15.0 million during the years ended June 30, 2026, 2025, and 2024, respectively. The decrease in the June 30, 2026 valuation allowance is primarily from the enactment of the One Big Beautiful Bill Act (OBBBA), which permanently repealed the mandatory capitalization and amortization of research and experimental expenditures under Section 174 of the Internal Revenue Code (the Code), reducing the related deferred tax asset. The net deferred tax liability is included as other long-term liabilities in the accompanying consolidated balance sheets. </div><div style="margin-top:12pt;text-indent:36pt"> On July 4, 2025, President Trump signed the OBBBA into law, which extends and modifies various domestic and international business tax framework originally enacted under the Tax Cuts and Jobs Act ("TCJA”). The legislation includes multiple effective dates, with certain provisions taking effect in fiscal 2026 and others through fiscal 2028. The Company evaluated the OBBBA and included its impact within the consolidated financial statements. The Company will continue to evaluate the full impact of these legislative changes as additional supplemental guidance becomes available. </div><div style="margin-top:12pt;text-indent:36pt">As of June 30, 2026, the Company had NOL carryforwards of $1.0 billion and $847.8 million for federal and state tax purposes, respectively, that are available to reduce future taxable income. If not utilized, $739.8 million of the state NOL carryforwards will begin to expire in fiscal 2027. As of June 30, 2026, the federal and the remaining state NOL carryforwards do not expire and will carry forward indefinitely until utilized. As of June 30, 2026, the Company also had research and development tax credit carryforwards of $99.0 million and $67.6 million for federal and state tax purposes, respectively. If not utilized, the federal tax credits will begin to </div><div style="margin-top:12pt">expire in fiscal 2041. The majority of the state tax credits do not expire and will carry forward indefinitely until utilized. </div><div style="margin-top:12pt;text-indent:36pt">Utilization of the NOL and tax credit carryforwards may be subject to a substantial annual limitation due to the ownership change limitations provided by the Code and other similar state provisions. The annual limitation may result in the expiration of NOLs and tax credits before utilization. </div><div style="margin-top:12pt;text-indent:36pt">Below is the reconciliation of the unrecognized tax benefits related to federal and state research and development credits during the periods presented (in thousands): </div><div style="margin-top:6pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.084%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Year e ded June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Balance at the beginning of the year</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">45,959 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">35,128 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">23,300 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div>Add:</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:12pt">Tax positions related to the current year</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,082 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,622 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">9,134 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Purchase of intangible assets</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">209 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:12pt">Tax positions related to the prior year</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,714 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div>Less:</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:12pt">Tax positions related to the prior year</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,997 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Statute of limitations lapse</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">20 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Balance at the end of the year</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">48,044 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">45,959 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">35,128 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-indent:36pt">The Company had unrecognized tax benefits as shown in the table above which are offset by a full valuation allowance. If the unrecognized tax benefits were recognized, they would not have an impact on the effective tax rate due to the Company’s valuation allowance.</div><div style="margin-top:12pt;text-indent:36pt">The amount of interest and penalties during the years ended June 30, 2026, 2025, and 2024 was not material.</div><div style="margin-top:12pt;text-indent:36pt">The Company files income tax returns in the U.S. for U.S. federal, California, and various states and foreign jurisdictions. The Company’s U.S. federal, state, and foreign tax returns for all years remain subject to examination by taxing authorities as a result of unused tax attributes being carried forward. The Company records liabilities related to uncertain tax positions, which provide adequate reserves for income tax uncertainties in all open tax years. Due to the Company’s history of tax losses, all years remain open to tax audit. The Company’s management evaluates the realizability of the Company’s deferred tax assets based on all available evidence, both positive and negative. The realization of net deferred tax assets is dependent on the Company’s ability to generate sufficient future taxable income during the foreseeable future.</div><div style="margin-top:12pt;text-indent:36pt">The Company regularly evaluates the realizability of its deferred tax assets (DTAs) by assessing all available evidence, both positive and negative, to determine whether it is more likely than not that some or all of the DTAs will not be realized. The Company considers its historical earnings, volatility in actual earnings, impact of permanent book to tax difference, the timing of reversal of existing temporary differences, and future profitability to assess its valuation allowance. As of June 30, 2026, substantially all of the Company's U.S. DTAs, net of deferred tax liabilities, were subject to a valuation allowance. If sufficient positive evidence emerges, some or all of the valuation allowance could be released. Such a release would result in a non-cash income tax benefit in the period of release and the recognition of additional DTAs in the accompanying consolidated statements of operations and balance sheets, respectively. There is a reasonable possibility that, within the next twelve months, sufficient positive evidence may become available to conclude that all or a significant portion of the valuation allowance against U.S. net DTAs is no longer required.</div>

<div style="margin-top:12pt;text-indent:36pt">The components of income (loss) before provision for income taxes were as follows during the periods presented (in thousands):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.084%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Year ended </div><div style="text-align:center">June 30, </div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Domestic</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(17,325)</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(43,567)</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">5,312 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Foreign</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">7,194 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">73,977 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(31,631)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top">Total income (loss) before provision for income taxes</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(10,131)</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">30,410 </td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(26,319)</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

-17325000

-43567000

5312000

7194000

73977000

-31631000

-10131000

30410000

-26319000

<div style="margin-top:12pt;text-indent:36pt">The components of provision for income taxes were as follows during the periods presented (in thousands):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.084%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Year ended</div><div style="text-align:center">June 30, </div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Current:</td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top">Federal</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(205)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">3,850 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,650 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top">State</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,033 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,758 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,251 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top">Foreign</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">80 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">19 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Total current</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">830 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,688 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,920 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Deferred:</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top">Federal</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">205 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(32)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(262)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top">State</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">75 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(45)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(99)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Total deferred</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">280 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(77)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(361)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Provision for income taxes</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,110 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">6,611 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">2,559 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

-205000

3850000

1650000

1033000

2758000

1251000

2000

80000

19000

830000

6688000

2920000

205000

-32000

-262000

75000

-45000

-99000

280000

-77000

-361000

1110000

6611000

2559000

<div style="margin-top:12pt;text-indent:36pt">The items accounting for the difference between the income taxes computed at the U.S. federal statutory tax rate and the provision for income taxes after the adoption of ASU 2023-09 consisted of the following during the period presented (in thousands, except percentages):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-bottom:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Year e ded June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">U.S. federal statutory tax rate</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(2,127)</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">21 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">State and local income taxes, net of federal income tax effect</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">947 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(9)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Foreign tax effects</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Australia</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 25pt;text-align:left;vertical-align:top">Statutory tax rate difference</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">647 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(6)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:24pt">Internal restructuring (1)</div></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">24,227 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(239)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:24pt">Changes in valuation allowances (1)</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(26,439)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">261 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 25pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">57 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Effect of cross-border tax laws</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Tax effects of foreign disregarded entity</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,509 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(15)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Tax credits</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Research and development tax credits</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(7,355)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">73 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div>Changes in valuation allowances (1)</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(17,218)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">170 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Nontaxable or nondeductible items</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:12pt">Stock-based compensation (2)</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">20,772 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(205)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Limitation on executive compensation</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">5,588 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(55)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Nondeductible meals</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">658 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(7)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Other adjustments</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(166)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Provision for income taxes and effective tax rate</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,110 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(11)</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom">%</td></tr></table></div><div style="margin-top:12pt;text-indent:36pt">The Company's effective tax rates for the years ended June 30, 2025, and 2024, were 22% and (10)%, respectively. The items accounting for the difference between the income taxes computed at the U.S. federal statutory tax rate and the provision for income taxes prior to adoption of ASU 2023-09 consisted of the following during the periods presented (in thousands): </div><div style="margin-top:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Year ended</div><div style="text-align:center">June 30, </div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Expected provision (benefit) at U.S. federal statutory rate</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">6,386 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(5,528)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">State income taxes, net of federal benefit</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">7,325 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">9,134 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div>Stock-based compensation (2)</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">19,204 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">24,300 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Research and development tax credits</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(23,383)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(24,039)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div>Change in valuation allowance (3)</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,939 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,943 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Restructuring</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(13,769)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Foreign rate differential</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(15,455)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,658 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,595 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">860 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:top">Provision for income taxes</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">6,611 </td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">2,559 </td><td style="background-color:#ffece2;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt;padding-left:18pt">(1) The rate impact during the year ended June 30, 2026 pertains to a decrease in valuation allowance due to the decrease in net deferred tax assets during the year. (2) The rate impact during the year ended June 30, 2026, 2025 and 2024 relates to the impact of non-deductible stock compensation and shortfalls related to tax deductions being smaller than the associated stock compensation expense.</div><div style="margin-top:6pt;padding-left:18pt">(3) The rate impact during the year ended June 30, 2025 and 2024 pertains to an increase in valuation allowance due to the increase in net deferred tax assets, capitalized R&D expense and tax credits generated during the year.</div>

-2127000

0.21

947000

-0.09

647000

-0.06

24227000

-2.39

-26439000

2.61

57000

-0.01

1509000

-0.15

7355000

-0.73

-17218000

1.70

20772000

-2.05

5588000 -0.55

658000

-0.07

10000

-166000

0.01

1110000

-0.11

0.22

-0.10

6386000

-5528000

7325000

9134000

19204000

24300000

23383000

24039000

10939000

4943000

-13769000

-15455000

6658000

1595000

860000

6611000

2559000

<div style="margin-top:12pt;text-indent:36pt">The components of deferred tax assets and liabilities were as follows as of the dates presented (in thousands): </div><div style="margin-top:6pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Deferred tax assets:</td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Accruals and reserves</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">15,808 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">17,888 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Capitalized research and development</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">123,090 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">160,755 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Stock-based compensation</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">12,822 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">19,532 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Net operating and other loss carryforwards</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">267,807 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">280,004 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Research and development credits</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">108,218 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">99,626 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Operating lease liabilities</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">15,460 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">17,874 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:12pt">Other (1)</div></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">783 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,842 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:30pt">Total deferred tax assets before valuation allowance</div></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">543,988 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">599,521 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 31pt;text-align:left;vertical-align:top">Valuation allowance</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(455,485)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(503,692)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 31pt;text-align:left;vertical-align:top">Deferred tax assets</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">88,503 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">95,829 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Deferred tax liabilities:</td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Deferred contract costs</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(6,940)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(6,603)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Property and equipment</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(30,106)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(22,253)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Intangible assets</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(38,436)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(53,280)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Operating right of use assets</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(12,056)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(14,066)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:12pt">Other</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,617)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 31pt;text-align:left;vertical-align:top">Total deferred tax liabilities</td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(89,155)</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(96,202)</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Net deferred tax liabilities</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(652)</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(373)</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt;padding-left:18pt">(1) Fiscal 2025 amounts have been conformed to the fiscal 2026 presentation.</div>

15808000

17888000

123090000

160755000

12822000

19532000

267807000

280004000

108218000

99626000

15460000 17874000

783000

3842000

543988000

599521000

455485000

503692000

88503000

95829000

6940000

6603000

30106000

22253000

38436000

53280000

12056000 14066000

1617000

89155000

96202000

652000

373000

-48200000

9300000

15000000.0

1000000000.0

847800000

739800000

99000000.0

67600000

<div style="margin-top:12pt;text-indent:36pt">Below is the reconciliation of the unrecognized tax benefits related to federal and state research and development credits during the periods presented (in thousands): </div><div style="margin-top:6pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.084%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Year e ded June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Balance at the beginning of the year</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">45,959 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">35,128 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">23,300 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div>Add:</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:12pt">Tax positions related to the current year</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,082 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,622 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">9,134 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Purchase of intangible assets</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">209 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:12pt">Tax positions related to the prior year</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,714 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div>Less:</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:12pt">Tax positions related to the prior year</div></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,997 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top">Statute of limitations lapse</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">20 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Balance at the end of the year</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">48,044 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">45,959 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">35,128 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

45959000

35128000

23300000

6082000

10622000

9134000

209000

2714000

3997000

20000

48044000

45959000

35128000

LEASES<div style="margin-top:12pt;text-indent:36pt">The Company has non-cancelable operating leases for office and other facilities in various locations, which expire through 2031. Also, the Company subleases part of its office facility in Draper, Utah under a non-cancellable operating lease that expires in December 2030. The Company's leases do not contain any material residual value guarantees.</div><div style="margin-top:12pt;text-indent:36pt">As of June 30, 2026, the weighted average remaining term of these operating leases is 4.9 years and the weighted-average discount rate used to estimate the net present value of the operating lease liabilities was 5.1%.</div><div style="margin-top:12pt;text-indent:36pt">The total payment for amounts included in the measurement of operating lease liabilities was $13.3 million, $13.4 million, and $13.9 million during the years ended June 30, 2026, 2025, and 2024, respectively.</div><div style="margin-top:12pt;text-indent:36pt">The total amount of ROU assets obtained in exchange for new operating lease liabilities was $4.8 million during the year ended June 30, 2025. There were no ROU assets obtained in exchange for new operating lease liabilities during the years ended June 30, 2026 and 2024.</div><div style="margin-top:12pt;text-indent:36pt">The components of lease expense during the years ended June 30, 2026, 2025, and 2024 are shown in the table below (in thousands):</div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:57.785%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.402%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.002%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.402%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.002%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.402%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.005%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Year ended June 30</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div>Operating lease expense (1)</div></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">12,169 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">12,627 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">12,877 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Variable lease expense, net of credit</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,468 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,412 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,461 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Sublease income</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(740)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(842)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(581)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 25pt;text-align:left;vertical-align:top">Total lease cost</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">13,897 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">14,197 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">14,757 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt;padding-left:18pt">(1) Includes short-term lease, which is not material for the fiscal years ended June 30, 2026, 2025, and 2024.</div>

P4Y10M24D

0.051

13300000

13400000

13900000

4800000

<div style="margin-top:12pt;text-indent:36pt">The components of lease expense during the years ended June 30, 2026, 2025, and 2024 are shown in the table below (in thousands):</div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:57.785%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.402%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.002%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.402%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.002%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.402%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.005%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Year ended June 30</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div>Operating lease expense (1)</div></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">12,169 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">12,627 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">12,877 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Variable lease expense, net of credit</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,468 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,412 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,461 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top">Sublease income</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(740)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(842)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(581)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 25pt;text-align:left;vertical-align:top">Total lease cost</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">13,897 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">14,197 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">14,757 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt;padding-left:18pt">(1) Includes short-term lease, which is not material for the fiscal years ended June 30, 2026, 2025, and 2024.</div>

12169000

12627000

12877000

2468000

2412000

2461000

740000

842000

581000

13897000

14197000

14757000

COMMITMENTS AND CONTINGENCIES<div style="margin-top:12pt">Commitments</div><div style="margin-top:12pt;text-indent:36pt">The Company has non-cancelable operating leases for office and other facilities in various locations, which expire through 2031. Future minimum lease payments as of June 30, 2026 are as follows (in thousands):</div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:85.112%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.082%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div>Fiscal years ending June 30:</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Amount</div></td></tr><tr><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:top">2027</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">13,226 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:top">2028</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">13,590 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:top">2029</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">13,974 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:top">2030</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">14,361 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:top">2031</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">14,278 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:top">Gross lease payments</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">69,429 </td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:top">Less - present value adjustments</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(8,107)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 37pt;text-align:left;vertical-align:top">Total operating lease liabilities, net</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">61,322 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-indent:36pt">The current portion of operating lease liabilities, which is included in other accruals and current liabilities in the accompanying consolidated balance sheets, was $12.9 million and $12.9 million as of June 30, 2026 and 2025, respectively. The non-current portion of operating lease liabilities was $48.5 million and $58.4 million as of June 30, 2026 and 2025, respectively.</div><div style="margin-top:12pt;text-indent:36pt">In addition to the minimum lease payments above, the Company has multi-year agreements with certain third parties and financial institution partners, expiring through 2031, which require the Company to pay fees over the term of the respective agreements. Future payments under these other agreements as of June 30, 2026 are as follows (in thousands):</div><div style="margin-top:6pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:85.112%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.082%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div>Fiscal years ending June 30:</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Amount</td></tr><tr><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:top">2027</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">42,295 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:top">2028</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">40,896 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:top">2029</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">13,758 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:top">2030</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,383 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:top">2031</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">246 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 37pt;text-align:left;vertical-align:top">Total</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">101,578 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt">Purchase of Card Receivables That Have Not Cleared</div><div style="margin-top:12pt;text-indent:36pt">The Company is contractually obligated to purchase all card receivables from the Issuing Banks including authorized transactions that have not cleared. The transactions that have been authorized but not cleared totaled $78.6 million as of June 30, 2026 and are not recorded on the accompanying consolidated balance sheets. The Company has credit exposures with these authorized but not cleared transactions; however, the expected credit losses recorded were not material as of June 30, 2026. See Note 5 for additional discussion about acquired card receivables.</div><div style="margin-top:12pt">Litigation</div><div style="margin-top:12pt;text-indent:36pt">From time to time, the Company is involved in lawsuits, claims, investigations, and proceedings that arise in the ordinary course of business. The Company records a provision for a liability when management believes that it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. As of each of June 30, 2026 and 2025, the Company’s reserve for litigation is immaterial. The Company reviews these provisions periodically and adjusts these provisions to reflect the impact of negotiations, settlements, rulings, advice of legal counsel, and other information and events pertaining to a particular case. Litigation is inherently unpredictable.</div><div style="margin-top:12pt">Unused Credit Arrangements</div><div style="margin-top:12pt;text-indent:36pt">As of June 30, 2026, the Company, in partnership with the Issuing Banks and the Originating Bank Partner, had approximately $4.4 billion in unused credit available to spending businesses using the Company's BILL Divvy Card product and borrowers using the invoice financing product. While this balance represents the total unused credit available, historical trends and current expectations indicate that the unused credit will likely not be fully utilized by spending businesses using BILL Divvy Card product and borrowers using the invoice financing product at any one time.</div><div style="margin-top:12pt;text-indent:36pt">The Company manages credit risk exposure by limiting total credit for each spending business using BILL Divvy Card product and borrowers using the invoice financing product. The Company periodically reviews credit lines to assess different factors, including account usage and creditworthiness of spending businesses using BILL Divvy Card product and borrowers using the invoice financing product. The credit lines can be terminated by the Company at any time, and they do not necessarily represent future cash requirements. The Company does not record a liability for expected credit losses for unused lines of credit as they are unconditionally cancellable.</div>

Future minimum lease payments as of June 30, 2026 are as follows (in thousands):<div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:85.112%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.082%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div>Fiscal years ending June 30:</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Amount</div></td></tr><tr><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:top">2027</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">13,226 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:top">2028</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">13,590 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:top">2029</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">13,974 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:top">2030</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">14,361 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:top">2031</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">14,278 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:top">Gross lease payments</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">69,429 </td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 19pt;text-align:left;vertical-align:top">Less - present value adjustments</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(8,107)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 37pt;text-align:left;vertical-align:top">Total operating lease liabilities, net</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">61,322 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

13226000

13590000

13974000

14361000

14278000

69429000

8107000

61322000

12900000

48500000

58400000

Future payments under these other agreements as of June 30, 2026 are as follows (in thousands):<div style="margin-top:6pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:85.112%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.082%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div>Fiscal years ending June 30:</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Amount</td></tr><tr><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:top">2027</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">42,295 </td><td style="background-color:#ffece2;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:top">2028</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">40,896 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:top">2029</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">13,758 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:top">2030</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,383 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 10pt;text-align:left;vertical-align:top">2031</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">246 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 37pt;text-align:left;vertical-align:top">Total</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">101,578 </td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

42295000

40896000

13758000

4383000

246000

101578000

78600000

4400000000

RESTRUCTURING<div style="margin-top:12pt;text-indent:36pt">The Company is committed to undertaking measures to improve organizational agility and efficiency, while also seeking to drive greater profitability. On October 15, 2025, in furtherance of this commitment, the Company announced a RIF impacting approximately 6% of employees. In March 2026, the Company undertook a smaller RIF and incurred additional restructuring charges. In May 2026, the Company announced an additional RIF impacting approximately 30% of the Company's workforce, which will be substantially complete </div><div style="margin-top:12pt">by the end of the first quarter of fiscal 2027. During the year ended June 30, 2026, the Company recorded restructuring charges of $90.9 million, including $15.5 million of accelerated stock-based compensation expense. Restructuring charges are presented as a separate line item in the accompanying consolidated statements of operations.</div><div style="margin-top:12pt;text-indent:36pt">The Company continues to consider actions to improve structural efficiencies and optimize operations in future periods.</div><div style="margin-top:12pt;text-indent:36pt">The following table summarizes the restructuring liability that is included in other accruals and current liabilities, and accounts payable on the accompanying consolidated balance sheets as of June 30, 2026:</div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:51.778%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.203%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.203%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.204%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:middle">Severance and termination benefits</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:middle">Other</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:middle">Total restructuring liability</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Balance, at June 30, 2025</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Charges</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">74,996 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">418 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">75,414 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Cash payments</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(18,880)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(294)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(19,174)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Balance, at June 30, 2026</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">56,116 </td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">124 </td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">56,240 </td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-indent:36pt">On December 5, 2023, the Company announced a restructuring plan intended to right-size the Company's organization, enhance profitability, and reallocate resources towards the most impactful initiatives, and included a reduction of the Company's global workforce and closure of its office in Sydney, Australia. The Company incurred the majority of the charges relating to such plan in the three months ended December 31, 2023. The Company completed such restructuring plan as of September 30, 2024.</div>

0.06 0.30 90900000 15500000

<div style="margin-top:12pt;text-indent:36pt">The following table summarizes the restructuring liability that is included in other accruals and current liabilities, and accounts payable on the accompanying consolidated balance sheets as of June 30, 2026:</div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:51.778%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.203%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.203%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.204%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:middle">Severance and termination benefits</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:middle">Other</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:middle">Total restructuring liability</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Balance, at June 30, 2025</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Charges</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">74,996 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">418 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">75,414 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Cash payments</td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(18,880)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(294)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(19,174)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Balance, at June 30, 2026</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">56,116 </td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">124 </td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">56,240 </td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

74996000

418000

75414000

18880000

294000

19174000

56116000

124000

56240000

NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS <div style="margin-top:12pt;text-indent:36pt">The following table presents the calculation of basic and diluted net income (loss) per share attributable to common stockholders (in thousands, except per share amounts):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:59.960%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.475%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.475%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.478%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Numerator:</td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 5.5pt;text-align:left;vertical-align:bottom">Net income (loss) attributable to common stockholders</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 14.5pt;text-align:left;vertical-align:bottom">Basic</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(11,241)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">23,799 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(28,878)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 14.5pt;text-align:left;vertical-align:bottom">Gain on debt extinguishment, net of change on mark to market derivatives and amortization of debt issuance costs</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(31,327)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 14.5pt;text-align:left;vertical-align:bottom">Diluted</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(11,241)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(7,528)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(28,878)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Denominator:</td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 5.5pt;text-align:left;vertical-align:bottom">Weighted-average shares used to compute net income (loss) per share attributable to common stockholders</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 14.5pt;text-align:left;vertical-align:bottom">Basic</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">99,918 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">103,568 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">106,102 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 14.5pt;text-align:left;vertical-align:bottom">Effect of dilutive securities:</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 23.5pt;text-align:left;vertical-align:bottom">Convertible senior notes</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">344 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 14.5pt;text-align:left;vertical-align:bottom">Diluted</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">99,918 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">103,912 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">106,102 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Net income (loss) per share attributable to common stockholders:</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 14.5pt;text-align:left;vertical-align:bottom">Basic</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(0.11)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">0.23 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(0.27)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 14.5pt;text-align:left;vertical-align:bottom">Diluted</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(0.11)</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(0.07)</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(0.27)</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-indent:36pt">Potentially dilutive securities, which were excluded from the diluted net income (loss) per share calculations because they would have been antidilutive, were as follows (in thousands):</div><div style="margin-top:6pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.084%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Equity awards</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">8,743 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">9,511 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,641 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Convertible senior notes</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">12,070 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">12,226 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,426 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">Total</td><td colspan="2" style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">20,813 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">21,737 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">9,067 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-indent:36pt">Shares issuable under the Notes is subject to adjustment up to approximately 16.3 million shares if certain corporate events occur prior to the maturity date of the Notes or if the Company issues a notice of redemption. As of June 30, 2026, no conversion was triggered for the Notes.</div>

<div style="margin-top:12pt;text-indent:36pt">The following table presents the calculation of basic and diluted net income (loss) per share attributable to common stockholders (in thousands, except per share amounts):</div><div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:59.960%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.475%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.475%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.478%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Numerator:</td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 5.5pt;text-align:left;vertical-align:bottom">Net income (loss) attributable to common stockholders</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 14.5pt;text-align:left;vertical-align:bottom">Basic</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(11,241)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">23,799 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(28,878)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 14.5pt;text-align:left;vertical-align:bottom">Gain on debt extinguishment, net of change on mark to market derivatives and amortization of debt issuance costs</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(31,327)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 14.5pt;text-align:left;vertical-align:bottom">Diluted</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(11,241)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(7,528)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(28,878)</td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Denominator:</td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 5.5pt;text-align:left;vertical-align:bottom">Weighted-average shares used to compute net income (loss) per share attributable to common stockholders</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 14.5pt;text-align:left;vertical-align:bottom">Basic</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">99,918 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">103,568 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">106,102 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 14.5pt;text-align:left;vertical-align:bottom">Effect of dilutive securities:</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 23.5pt;text-align:left;vertical-align:bottom">Convertible senior notes</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">344 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 14.5pt;text-align:left;vertical-align:bottom">Diluted</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">99,918 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">103,912 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">106,102 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Net income (loss) per share attributable to common stockholders:</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 14.5pt;text-align:left;vertical-align:bottom">Basic</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(0.11)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">0.23 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffece2;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(0.27)</td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 14.5pt;text-align:left;vertical-align:bottom">Diluted</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(0.11)</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(0.07)</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(0.27)</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

-11241000

23799000

-28878000

0 31327000 0

-11241000

-7528000

-28878000

99918000

103568000

106102000

344000

99918000

103912000

106102000

-0.11

0.23

-0.27

-0.11

-0.07

-0.27

<div style="margin-top:12pt;text-indent:36pt">Potentially dilutive securities, which were excluded from the diluted net income (loss) per share calculations because they would have been antidilutive, were as follows (in thousands):</div><div style="margin-top:6pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.084%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30,</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Equity awards</td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">8,743 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">9,511 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,641 </td><td style="background-color:#ffece2;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Convertible senior notes</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">12,070 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">12,226 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,426 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom">Total</td><td colspan="2" style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">20,813 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">21,737 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">9,067 </td><td style="background-color:#ffece2;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

8743000

9511000

6641000

12070000

12226000

2426000

20813000

21737000

9067000

16300000 <div style="margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.333%"><tr><td style="width:1.0%"></td><td style="width:13.075%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.416%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.770%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.416%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.141%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.416%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.144%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.416%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.607%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.416%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.607%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.416%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.232%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.416%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.312%"></td><td style="width:0.1%"></td></tr><tr style="height:14pt"><td colspan="3" rowspan="2" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div>Name</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Action</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Date</td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Trading Arrangement</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">Total Shares to be Sold</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Expiration Date</td></tr><tr style="height:21pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div>Title</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Rule 10b5-1 (1)</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Non-Rule 10b5-1 (2)</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div>Rene Lacerte(3)(4)</div></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Chief Executive Officer</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Adopt</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">5/30/2026</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">X</td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="2" style="background-color:#ffece2;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">710,541 </td><td style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffece2;padding:0 1pt"></td><td colspan="3" style="background-color:#ffece2;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">9/10/2027</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div>Rohini Jain(3)</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Chief Financial Officer</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Adopt</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">6/4/2026</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">X</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">82,042 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">9/03/2027</td></tr></table></div><div style="margin-top:6pt;padding-left:18pt">(1) Intended to satisfy the affirmative defense of Rule 10b5-1(c). The Rule 10b5-1 plan included a representation from the participant to the broker administering the plan that such person was not in possession of any material nonpublic information regarding us or our securities subject to the Rule 10b5-1 plan at the time the Rule 10b5-1 plan was entered into. This representation was made as of the date of adoption of the Rule 10b5-1 plan, and speaks only as of that date. In making this representation, there is no assurance with respect to any material nonpublic information of which the participant was unaware, or with respect to any material nonpublic information acquired by the participant or us after the date of the representation.</div><div style="margin-top:6pt;padding-left:18pt">(2) Not intended to satisfy the affirmative defense of Rule 10b5-1(c).</div><div style="margin-top:6pt;padding-left:18pt">(3) Includes certain shares underlying performance-based restricted stock units subject to future determination.</div><div style="margin-top:6pt;padding-left:18pt">(4) Reflects the aggregate number of shares to be sold by Mr. Lacerte and entities beneficially owned by Mr. Lacerte.</div> false false false Rene Lacerte(3)(4) Chief Executive Officer 5/30/2026 true 710541 9/10/2027 Rohini Jain(3) Chief Financial Officer 6/4/2026 true 82042 9/03/2027 true Depreciation and amortization does not include amortization of capitalized internal-use software costs paid in cash of $33.9 million, $14.5 million, and $9.4 million during each of the years ended June 30, 2026, 2025, and 2024, respectively, which are included in service costs and general and administrative in the consolidated statements of operations.