Summary of Significant Accounting Policies (Tables)
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3 Months Ended |
Sep. 30, 2026 |
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| Summary of Significant Accounting Policies |
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| Schedule of disaggregation of revenue |
| | | | | | | | | Three Months Ended September 30, | | | 2026 | | 2025 | | | | (In thousands) | General Education | | $ | 356,606 | | $ | 363,116 | Career Learning | | | | | | | Middle - High School | | | 272,098 | | | 241,500 | Adult | | | 10,674 | | | 16,268 | Total Career Learning | | | 282,772 | | | 257,768 | Total Revenues | | $ | 639,378 | | $ | 620,884 |
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| Schedule of accounts receivable, unbilled receivables and deferred revenue |
| | | | | | | | | | | | September 30, | | June 30, | | June 30, | | | 2026 | | 2026 | | 2025 | | | | (In thousands) | Accounts receivable | | $ | 854,808 | | $ | 664,788 | | $ | 559,646 | Unbilled receivables (included in accounts receivable) | | | 23,364 | | | 24,351 | | | 19,902 | Deferred revenue | | | 6,817 | | | 20,553 | | | 26,995 | Deferred revenue, long-term (included in other long-term liabilities) | | | 20 | | | 58 | | | 327 |
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| Schedule of investments in marketable securities |
The following table summarizes the amortized cost, net carrying amount, and fair value disaggregated by class of instrument (in thousands). | | | | | | | | | | | | | | | | | | | | Allowance for | | | Net Carrying | | | Gross Unrealized | | | | | | Amortized Cost | | | Credit Losses | | | Amount | | | Gains (Losses) | | | Fair Value | Corporate Bonds | $ | 145,275 | | $ | (202) | | $ | 145,073 | | $ | (902) | | $ | 144,171 | U.S. Treasury Notes | | 191,458 | | | (70) | | | 191,388 | | | (573) | | | 190,815 | Total | $ | 336,733 | | $ | (272) | | $ | 336,461 | | $ | (1,475) | | $ | 334,986 |
The following table summarizes the amortized cost, net carrying amount, and fair value disaggregated by class of instrument (in thousands). | | | | | | | | | | | | | | | | | | | | Allowance for | | | Net Carrying | | | Gross Unrealized | | | | | | Amortized Cost | | | Credit Losses | | | Amount | | | Gains (Losses) | | | Fair Value | Corporate Bonds | $ | 112,160 | | $ | (160) | | $ | 112,000 | | $ | (269) | | $ | 111,731 | U.S. Treasury Notes | | 141,689 | | | (50) | | | 141,639 | | | (259) | | | 141,380 | Commercial Paper | | 25,956 | | | (12) | | | 25,944 | | | - | | | 25,944 | Total | $ | 279,805 | | $ | (222) | | $ | 279,583 | | $ | (528) | | $ | 279,055 |
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| Schedule of useful lives of property and equipment |
| | | | | Useful Life | Computer hardware | | 3 - 5 years | Computer software | | 3 - 5 years | Financed computers and printers | | 3 years | Web site development | | 3 - 5 years | Office equipment | | 3 years | Furniture and fixtures | | 5 - 7 years | Leasehold improvements | | Shorter of useful life or term of the lease |
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| Schedule of intangible assets |
| | | | | | | | | | | | | | | | | | | | | September 30, 2026 | | June 30, 2026 | ($ in millions) | | Gross
Carrying
Amount | | Accumulated Amortization and Impairment | | Net
Carrying
Value | | Gross
Carrying
Amount | | Accumulated Amortization and Impairment | | Net
Carrying
Value | Trade names | | $ | 70.6 | | $ | (64.7) | | $ | 5.9 | | $ | 70.6 | | $ | (63.8) | | $ | 6.8 | Customer and distributor relationships | | | 37.1 | | | (36.3) | | | 0.8 | | | 37.1 | | | (35.8) | | | 1.3 | Developed technology | | | 21.7 | | | (19.5) | | | 2.2 | | | 21.7 | | | (19.1) | | | 2.6 | Other | | | 1.4 | | | (1.2) | | | 0.2 | | | 1.4 | | | (1.2) | | | 0.2 | Total | | $ | 130.8 | | $ | (121.7) | | $ | 9.1 | | $ | 130.8 | | $ | (119.9) | | $ | 10.9 |
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| Schedule of calculation of basic and diluted net income (loss) per share |
| | | | | | | | | Three Months Ended September 30, | | | 2026 | | 2025 | | | | (In thousands except share and per share data) | Basic net income per share computation: | | | | | | | | | | | | | | Net income attributable to common stockholders | | $ | 64,919 | | $ | 68,800 | Weighted average common shares — basic | | | 41,479,826 | | | 43,371,952 | Basic net income per share | | $ | 1.57 | | $ | 1.59 | | | | | | | | Diluted net income per share computation: | | | | | | | | | | | | | | Net income attributable to common stockholders | | $ | 64,919 | | $ | 68,800 | Share computation: | | | | | | | Weighted average common shares — basic | | | 41,479,826 | | | 43,371,952 | Effect of dilutive restricted stock, convertible debt, and the employee stock purchase plan | | | 3,348,266 | | | 5,850,899 | Weighted average common shares — diluted | | | 44,828,092 | | | 49,222,851 | Diluted net income per share | | $ | 1.45 | | $ | 1.40 |
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