v3.26.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2026
Jun. 30, 2026
CURRENT ASSETS:    
Cash, cash equivalents, and restricted cash $ 13,444 $ 20,718
Accounts receivable, net of allowances of $5.5 million and $7.1 million, respectively 128,449 166,825
Commissions receivable-current 201,919 138,728
Other current assets 22,176 24,676
Total current assets 365,988 350,947
COMMISSIONS RECEIVABLE—Net 805,283 852,675
PROPERTY AND EQUIPMENT—Net 10,803 12,050
SOFTWARE—Net 18,371 18,072
OPERATING LEASE RIGHT-OF-USE ASSETS 19,514 20,511
GOODWILL 29,438 29,438
OTHER ASSETS 2,587 3,135
TOTAL ASSETS 1,251,984 1,286,828
CURRENT LIABILITIES:    
Accounts payable 59,188 74,033
Accrued expenses 24,718 21,049
Accrued compensation and benefits 48,038 62,265
Operating lease liabilities—current 4,246 4,448
Current portion of long-term debt 21,593 22,014
Other current liabilities 25,540 8,814
Total current liabilities 183,323 192,623
LONG-TERM DEBT, NET—less current portion 364,255 348,154
DEFERRED INCOME TAXES 40,078 49,453
OPERATING LEASE LIABILITIES 20,788 21,753
OTHER LIABILITIES 12,203 24,820
Total liabilities 620,647 636,803
COMMITMENTS AND CONTINGENCIES (Note 11)
PREFERRED STOCK:    
Senior Non-Convertible Preferred Stock, $0.01 par value, 350,000 shares issued and outstanding as of September 30, 2026 and June 30, 2026, respectively, current liquidation preference of $438.6 million and $423.2 million as of September 30, 2026 and June 30, 2026, respectively. 318,374 298,213
SHAREHOLDERS’ EQUITY:    
Common stock, $0.01 par value—700,000,000 shares authorized; 179,420,695 and 176,470,154 shares issued and outstanding as of September 30, 2026 and June 30, 2026, respectively. 1,794 1,765
Additional paid-in capital 491,470 510,047
Accumulated deficit (180,301) (160,000)
Total shareholders’ equity 312,963 351,812
TOTAL LIABILITIES, PREFERRED STOCK, AND SHAREHOLDERS’ EQUITY $ 1,251,984 $ 1,286,828