Income Taxes (Tables) |
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| Income Taxes | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Components of Income Tax Expense (Benefit) | There was no provision for current federal or state taxes for either of the fiscal years ended June 30, 2026 and June 30, 2025 as a result of taxable losses incurred in these jurisdictions. The components of the provision (benefit) for income taxes consist of the following (in thousands):
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| Schedule of Deferred Tax Assets and Deferred Tax Liabilities | The components of the Company’s deferred tax assets and liabilities are as follows (in thousands):
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| Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the effective tax rate on loss from operations and the US federal statutory rate is presented below for the fiscal year ended June 30, 2026 (in thousands):
The rate reconciliation above has been adjusted to be presented in compliance with the guidance under ASU 2023-09. The Company has adopted this guidance on a prospective basis. As previously disclosed for the year ended June 30, 2025, prior to the adoption of ASU 2023-09, the following is a reconciliation of the Company’s income tax rate computed using the federal statutory rate to its actual income tax rate.
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