v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Jun. 30, 2025
CURRENT ASSETS:    
Cash, cash equivalents, and restricted cash $ 20,718 $ 35,733
Accounts receivable, net of allowances of $7.1 million and $11.8 million, respectively 166,825 151,388
Commissions receivable-current 138,728 132,077
Other current assets 24,676 21,844
Total current assets 350,947 341,042
COMMISSIONS RECEIVABLE—Net 852,675 818,751
PROPERTY AND EQUIPMENT—Net 12,050 14,577
SOFTWARE—Net 18,072 15,060
OPERATING LEASE RIGHT-OF-USE ASSETS 20,511 24,635
INTANGIBLE ASSETS—Net 839 1,973
GOODWILL 29,438 29,438
OTHER ASSETS 2,296 3,880
TOTAL ASSETS 1,286,828 1,249,356
CURRENT LIABILITIES:    
Accounts payable 74,033 59,205
Accrued expenses 21,049 13,856
Accrued compensation and benefits 62,265 58,788
Operating lease liabilities—current 4,448 4,820
Current portion of long-term debt 22,014 68,523
Other current liabilities 8,814 7,718
Total current liabilities 192,623 212,910
LONG-TERM DEBT, NET—less current portion 348,154 316,589
DEFERRED INCOME TAXES 49,453 37,872
OPERATING LEASE LIABILITIES 21,753 25,982
OTHER LIABILITIES 24,820 80,485
Total liabilities 636,803 673,838
COMMITMENTS AND CONTINGENCIES (Note 11)
PREFERRED STOCK:    
Senior Non-Convertible Preferred Stock, $0.01 par value, 350,000 shares issued and outstanding as of June 30, 2026 and 2025, respectively, current liquidation preference of $423.2 million and $367.1 million as of June 30, 2026 and 2025, respectively. 298,213 224,374
SHAREHOLDERS’ EQUITY:    
Common stock, $0.01 par value—700,000,000 shares authorized; 176,470,154 and 172,816,730 shares issued and outstanding as of June 30, 2026 and 2025, respectively. 1,765 1,728
Additional paid-in capital 510,047 571,605
Accumulated deficit (160,000) (222,189)
Total shareholders’ equity 351,812 351,144
TOTAL LIABILITIES, PREFERRED STOCK, AND SHAREHOLDERS’ EQUITY $ 1,286,828 $ 1,249,356