v3.26.1
Loans Held for Investment and Allowance for Credit Losses (Tables)
 12 Months Ended
Jun. 30, 2026
Receivables [Abstract]  
Schedule of Loans Held for Investment Loans held for investment consisted of the following (in thousands):
June 30, 2026June 30, 2025
Unpaid principal balance$9,577,027 $7,050,446 
Accrued interest receivable94,359 67,953 
Premiums on loans held for investment11,834 9,818 
Less: Discount due to loss on loan purchase commitment(87,263)(75,124)
Less: Discount due to loss on directly originated loans(35,214)(27,559)
Total loans held for investment$9,560,742 $7,025,534 
The following table details activity for the discount included in loans held for investment, for the periods indicated:

June 30, 2026June 30, 2025June 30, 2024
(in thousands)
Balance at the beginning of the period$102,684 $98,527 $96,576 
Additions from loans purchased or originated, net of refunds490,626 356,398 268,441 
Amortization of discount(332,829)(254,964)(204,654)
Unamortized discount released on loans sold(137,055)(97,044)(60,580)
Impact of foreign currency translation(949)(233)(1,256)
Balance at the end of the period$122,477 $102,684 $98,527 
Schedule of Loans Held for Investment by Delinquency
The following tables present an aging analysis of the amortized cost basis excluding accrued interest receivable, by fiscal year of origination, of loans held for investment by delinquency status as of June 30, 2026 and June 30, 2025 (in thousands):


June 30, 2026
Amortized Cost Basis by Fiscal Year of Origination
20262025202420232022PriorTotal
Current  – 3 calendar days past due$8,524,557 $401,908 $44,161 $7,050 $252 $27 $8,977,955 
4 – 29 calendar days past due235,777 14,459 616 70 3 — 250,925 
30 – 59 calendar days past due87,890 7,826 252 26 1 — 95,995 
60 – 89 calendar days past due69,564 7,817 211 28 1 — 77,621 
90 – 119 calendar days past due(1)
54,785 8,670 330 72 20 10 63,887 
Total amortized cost basis$8,972,573 $440,680 $45,570 $7,246 $277 $37 $9,466,383 
(1)Includes $63.8 million of loan receivables as of June 30, 2026 that are 90 days or more past due, but are not on non-accrual status. 

June 30, 2025
Amortized Cost Basis by Fiscal Year of Origination
20252024202320222021PriorTotal
Current  – 3 calendar days past due$6,268,050 $294,778 $50,958 $4,170 $133 $28 $6,618,117 
4 – 29 calendar days past due156,941 9,713 1,347 145 10 — 168,156 
30 – 59 calendar days past due62,250 4,367 288 35 4 — 66,944 
60 – 89 calendar days past due51,095 5,251 255 30 2 — 56,633 
90 – 119 calendar days past due(1)
41,889 5,571 228 34 2 8 47,732 
Total amortized cost basis$6,580,225 $319,680 $53,076 $4,414 $151 $36 $6,957,582 
(1)Includes $47.6 million of loan receivables as of June 30, 2025 that are 90 days or more past due, but are not on non-accrual status.
Schedule of Net Charge Offs
The following table presents net charge-offs by fiscal year of origination as of year ended June 30, 2026 (in thousands):

June 30, 2026
Net Charge-offs by Fiscal Year of Origination
20262025202420232022PriorTotal
Current period charge-offs(278,424)(386,356)(20,287)(1,618)(442)(37)(687,164)
Current period recoveries9,130 36,290 18,970 7,287 2,972 906 75,555 
Current period net charge-offs(269,294)(350,066)(1,317)5,669 2,530 869 (611,609)
Schedule of Loans Held for Investment and Allowance for Credit Loss
The following table details activity in the allowance for credit losses, including charge-offs, recoveries and provision for loan losses (in thousands):
June 30, 2026June 30, 2025June 30, 2024
Balance at beginning of period$396,929 $309,097 $204,531 
Provision for credit losses777,975 588,624 439,581 
Charge-offs(687,164)(552,072)(365,711)
Recoveries of charged-off receivables75,555 51,280 30,696 
Balance at end of period$563,295 $396,929 $309,097 
Schedule Of Amortized Cost Basis Of Loans / Delinquency Status The following tables present the amortized cost basis of loans excluding accrued interest receivable that were modified for borrowers experiencing financial difficulty during the years ended June 30, 2026, 2025, and 2024 by type of modification (in thousands):
June 30, 2026June 30, 2025
June 30, 2024 (1)
Payment deferral$23,803 $11,642 $34,641 
Loan re-amortization310 225 1,057 
Total$24,113 $11,867 $35,698 
% of total loan receivables outstanding0.25 %0.17 %0.64 %
(1)Amounts previously disclosed excluded modifications made to borrowers where the loan was less than 30 days delinquent at the time of modification.
The following tables present the delinquency status as of June 30, 2026, 2025, and 2024, by amortized cost basis excluding accrued interest receivable, of loan receivables that have been modified within the last 12 months where the borrower was experiencing financial difficulty at the time of modification (in thousands):

June 30, 2026
Payment DeferralLoan Re-amortizationTotal
Non-delinquent loans$14,529 $148 $14,677 
4 – 29 calendar days past due3,588 55 3,643 
30 – 59 calendar days past due2,162 47 2,209 
60 – 89 calendar days past due1,730 34 1,764 
90 – 119 calendar days past due1,794 26 1,820 
Total amortized cost basis$23,803 $310 $24,113 

June 30, 2025
Payment DeferralLoan Re-amortizationTotal
Non-delinquent loans$7,240 $142 $7,382 
4 – 29 calendar days past due1,721 43 1,764 
30 – 59 calendar days past due959 17 976 
60 – 89 calendar days past due867 12 879 
90 – 119 calendar days past due855 11 866 
Total amortized cost basis$11,642 $225 $11,867 
June 30, 2024 (1)
Payment DeferralLoan Re-amortizationTotal
Non-delinquent loans$19,189 $439 $19,628 
4 – 29 calendar days past due5,028 180 5,208 
30 – 59 calendar days past due2,382 124 2,506 
60 – 89 calendar days past due4,421 153 4,574 
90 – 119 calendar days past due3,621 161 3,782 
Total amortized cost basis$34,641 $1,057 $35,698 
(1)Amounts previously disclosed excluded modifications made to borrowers where the loan was less than 30 days delinquent at the time of modification.