v3.26.1
Accrued Expenses (Tables)
 12 Months Ended
Jun. 30, 2026
Payables and Accruals [Abstract]  
Schedule of Accrued Expenses
Accrued expenses consisted of the following:
As of June 30,
20262025
Warranties$41,239 $40,970 
Dealer incentives15,200 7,057 
Accrued compensation21,110 15,438 
Current operating lease liabilities4,899 2,408 
Accrued legal and professional fees 1
25,569 33,729 
Customer deposits49,442 3,508 
Government grant 2
4,089 4,089 
Current contingent consideration 3
4,052 — 
Other accrued expenses2,537 2,571 
Total accrued expenses$168,137 $109,770 
1 Accrued legal and professional fees include approximately $21,000 in insurance coverage proceeds that are subject in certain cases to reservations of rights by the insurance carriers. The proceeds will be considered a liability in accrued expenses until the resolution of the litigation. For more information, refer to Note 18 of our consolidated financial statements included elsewhere in this report.
2 Government grant includes approximately $4,089 related to an Economic Development Grant to be paid by the State of Tennessee in relation to the Company's 2023 purchase of a production facility in Roane County, Tennessee and the moving production of certain models of Cobalt boats from Kansas to Tennessee. The grant requires the Company to create and maintain a specified number of jobs in order to retain the grant. The accrued liability will be relieved as the Company satisfies headcount requirements.
3 Contingent consideration related to the Saxdor acquisition are to be paid out in calendar year 2027, 2028, and 2029 based on the results of the remainder of calendar year 2026 and the subsequent two calendar years, respectively, if certain requirements are met. $4.1 million of the contingent consideration was recognized as a current liability given expected settlement within one year from the balance sheet date. The remaining $24.1 million is recognized in other long term liabilities on our audited balance sheet for fiscal year end 2026. See further details on the Saxdor acquisition at Note 4 — Acquisition.