v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net loss $ (31,137) $ (8,798)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 781 811
Deferred income taxes (2,261) (8,448)
Share-based compensation expense 3,953 4,844
Unrealized loss (gain) on equity investments with readily determinable fair value and warrants 3,315 (15,500)
Other non-cash adjustments 1,721 1,612
Change in assets and liabilities:    
Accounts receivable (8,314) (16,763)
Net related party receivables (29,230) (23,102)
Prepaid expenses and other assets (78,671) (75,787)
Investments (1,292) (2,181)
Accounts payable (12,482) (4,190)
Net related party payables 384 (497)
Accrued and other liabilities (184,302) (95,300)
Deferred revenue 200,971 166,381
Operating lease right-of-use assets and lease liabilities (9,704) (8,036)
Net cash used in operating activities (146,268) (84,954)
Cash flows from investing activities:    
Capital expenditures (666) (371)
Purchases of investments (565) (1,477)
Net cash used in investing activities (1,231) (1,848)
Cash flows from financing activities:    
Dividends paid 0 (340)
Taxes paid in lieu of shares issued for equity-based compensation (16,966) (8,770)
Proceeds from revolving credit facilities 40,000 0
Net cash provided by (used in) financing activities 23,034 (9,110)
Net decrease in cash, cash equivalents and restricted cash (124,465) (95,912)
Cash, cash equivalents and restricted cash at beginning of period 164,511 153,188
Cash, cash equivalents and restricted cash at end of period 40,046 57,276
Non-cash investing and financing activities:    
Capital expenditures incurred but not yet paid $ 81 $ 233