v3.26.3
Fair Value Measurements
 3 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The following table presents the Company’s assets that are measured at fair value on a recurring basis, which include cash equivalents, as of September 30, 2026 and June 30, 2026:
Fair Value HierarchySeptember 30,
2026		June 30,
2026
Assets:
Money market accountsI$36,764 $147,346 
Time depositsI1,301 15,706 
Equity investmentsI42,914 43,191 
WarrantsIII1,752 3,498 
Total assets measured at fair value$82,731 $209,741 
Level I Inputs
Assets that are classified within Level I of the fair value hierarchy are valued using observable inputs that reflect quoted prices for identical assets in active markets. The carrying amount of the Company’s money market accounts and time deposits approximates fair value due to their short-term maturities. Refer to Note 10 for further details regarding equity investments.
Level III Inputs
The Company’s Level III assets consist of warrants entitling the Company to acquire additional common stock of Xtract One. The Company’s warrants are included within Investments in the accompanying consolidated balance sheets. Changes in the fair value of derivative instruments are measured at each reporting date and are recorded within Miscellaneous (expense) income, net within the accompanying consolidated statements of operations. The fair value of the Company’s warrants in Xtract One were determined using the Black-Scholes option pricing model. The following are key assumptions used to calculate the fair value of the warrants as of September 30, 2026 and June 30, 2026:
September 30,
2026		June 30,
2026
Expected term0.68 years0.80 years
Expected volatility62.36 %73.89 %
Risk-free interest rate4.39 %3.98 %
The following table presents additional information about our assets for which we utilize Level III inputs to determine fair value as of September 30, 2026 and June 30, 2026:
Three Months Ended September 30,
20262025
Balance at beginning of period$3,498 $1,604 
Unrealized (losses) gains on warrants(1,746)5,711 
Balance at end of period$1,752 $7,315 
The carrying value and fair value of the Company’s financial instruments reported in the accompanying consolidated balance sheets as of September 30, 2026 and June 30, 2026 were as follows:
September 30, 2026June 30, 2026
Carrying
Value		Fair
Value		Carrying
Value		Fair
Value
Liabilities
Debt, current (a)
$16,500 $16,500 $16,500 $16,500 
Long-term debt (b)
$282,000 $282,000 $242,000 $242,000 
_________________
(a)The Company’s debt, current is classified within Level II of the fair value hierarchy as it is valued using quoted indices of similar securities for which the inputs are readily observable. The fair value of the Company’s debt, current is the same as its carrying amount based on valuation of similar securities. See Note 13 for further details.
(b)The Company’s long-term debt is classified within Level II of the fair value hierarchy as it is valued using quoted indices of similar securities for which the inputs are readily observable. The fair value of the Company’s long-term debt is the same as its carrying amount as the debt bears interest at a variable rate indexed to current market conditions. See Note 13 for further details.