Stockholders' Equity |
12 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Equity [Abstract] | |
| Stockholders' Equity | 13. Stockholders’ Equity Stock Repurchases In April 2022, the Board of Directors authorized the 2022 Stock Repurchase Program allowing the repurchase of up to $40.0 million worth of common stock. During the second quarter of fiscal year 2026, the Company had fully utilized the $40.0 million authorized for repurchase under the 2022 Stock Repurchase Program. In October 2025, the Board of Directors authorized the 2025 Stock Repurchase Program allowing the Company to repurchase up to $40.0 million of the outstanding shares of common stock. In fiscal year 2026, the Company repurchased and retired 2,308,491 shares of its common stock at an average price of $13.59 per share, at a total cost of $31.4 million (including a broker commission of $0.03 per share). Repurchases under these programs took place in the open market. The repurchased shares of common stock were recorded as treasury stock and were accounted for under the cost method. As of June 30, 2026, approximately $25.4 million remained available for stock repurchases pursuant to the board authorization. There were no repurchases made during the fiscal year 2025. Retirement of Treasury Stock In fiscal year 2026, the Company retired 2,308,491 shares of its common stock with a carrying value of $31.4 million under the 2022 and 2025 Stock Repurchase Programs. In fiscal year 2025, the Company retired no shares of its common stock. The Company’s accounting policy upon the retirement of treasury stock is to deduct its par value from common stock and to reflect any excess of cost over par value as a deduction from additional paid-in capital. |