v3.26.1
Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Cash flows from operating activities:    
Net (loss) income $ (36,908) $ 15,550
Adjustments to reconcile net (loss) income to net cash flows from operating activities:    
Proceeds from sale of real estate 14,317 0
Gain on sale of real estate (1,494) (109)
Depreciation and amortization 1,299 1,249
Stock-based compensation 2,284 1,952
Unrealized loss (gain) on investments 27,344 (15,991)
Realized gain on investments (5,100) (396)
Realized gain on Convertible Notes 0 (467)
Non-cash interest and amortization of debt issuance costs 2,152 2,204
Deferred tax (benefit) expense (64) 216
Change in fair value of contingent consideration 0 (6)
Other non-cash expense, net 1,080 1,332
Adjustments to reconcile net (loss) income to net cash flows from operating activities of Consolidated Funds:    
Purchase of investments (3,339) (4,680)
Sales of investments 9,626 5,234
Amortization of premium and accretion of discount, net (61) (93)
Net realized and unrealized loss (gain) on investments 2,659 (3,321)
Changes in operating assets and liabilities:    
Receivables from managed funds 4,377 (6,072)
Prepaid and other assets 1,786 (1,551)
Real estate under development (6,203) (3,406)
Lease Liabilities 10 43
Related party payables (24) (370)
Accounts payable, accrued expenses and other liabilities (2,004) 1,191
Changes in operating assets and liabilities of Consolidated Funds:    
Cash and cash equivalents 3,794 (1,536)
Other assets 166 26
Accrued expenses and other liabilities (22) (5)
Net cash flows from operating activities 15,675 (9,006)
Cash flows from investing activities:    
Purchases of investments in held-to-maturity securities 0 (7,402)
Proceeds from settlement of held-to-maturity investments 0 17,500
Proceeds from settlement of trading securities 0 29
Sales of investments 7,681 0
Purchases of investments (3,113) 0
Investments in portfolio funds 0 (4,473)
Acquisition of business 0 (2,500)
Related party loan receivable 8,000 (8,000)
Redemption of investments 85 3,886
Other (85) (376)
Net cash flows from investing activities 12,568 (1,336)
Cash flows from financing activities:    
Proceeds from issuance of common stock 11,862 0
Equity issuance costs (1,257) 0
Redemption of Convertible Notes 0 (1,757)
Stock repurchases (6,800) (7,239)
Withholding tax payments related to restricted stock (154) 0
Redemptions of non-controlling interests in Consolidated Funds (4,132) 0
Contributions to non-controlling interests in Consolidated Funds 0 223
Distributions from non-controlling interests in Consolidated Funds (4,891) 0
Net cash flows from financing activities (5,372) (8,773)
Net increase (decrease) in cash and cash equivalents 22,871 (19,115)
Cash, cash equivalents and restricted cash at beginning of period 30,603 49,718
Cash, cash equivalents and restricted cash at end of period 53,474 30,603
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,954 1,954
Cash paid for taxes 11 139
Supplemental non-cash financing transactions:    
Fair value of warrants issued 726 0
Lease liabilities and right of use assets arising from operating leases 0 1,681
Supplemental cash flow elements    
Cash and cash equivalents 53,474 30,603
Restricted cash 0 0
Cash, cash equivalents and restricted cash $ 53,474 $ 30,603