Debt

9 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Debt

Note 8. Debt

The Company's outstanding debt as of March 31, 2025, and June 30, 2024, is as follows (in thousands):

	March 31, 2025							June 30, 2024
	Principal Amount		Unamortized Debt Costs			Net Carrying Amount		Principal Amount		Unamortized Debt Costs			Net Carrying Amount
3.75% Convertible Senior Notes due June 1, 2026	$	100,000	$	(753	)	$	99,247	$	100,000	$	(1,218	)	$	98,782
Term Loan Facility		58,000		(464	)		57,536		64,000		(626	)		63,374
Revolving Credit Facility		17,000		—			17,000		10,000		—			10,000
Total debt	$	175,000	$	(1,217	)	$	173,783	$	174,000	$	(1,844	)	$	172,156
Reported as:
Short-term debt						$	7,574						$	7,756
Long-term debt							166,209							164,400
Total debt						$	173,783						$	172,156

3.75% Convertible Senior Notes due June 1, 2026

In May 2021, the Company issued $100.0 million aggregate principal amount of its 3.75% Convertible Senior Notes due June 1, 2026 (the “3.75% Convertible Notes due June 2026”) under an indenture agreement between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee. As of March 31, 2025, the if-converted value of its 3.75% Convertible Notes due June 2026 did not exceed the outstanding principal amount.

Credit Facilities

The Company has a $40.0 million revolving credit facility (the “Revolving Credit Facility”) and a five-year $80.0 million term loan (the “Term Loan Facility” and together with the Revolving Credit Facility, the “Credit Facilities”). The Company’s Credit Facilities will mature on May 6, 2026. On the maturity date, the Company will be required to pay $50.0 million on its Term Loan Facility and any outstanding balance on its Revolving Credit Facility.

Interest on the borrowings under the Credit Facilities is payable in arrears on the applicable interest payment date, at an annual interest rate of reserve-adjusted, 90-day term Secured Overnight Financing Rate (subject to a 0.50% floor) plus a margin between 2.50% and 3.25% margin, determined by the Consolidated Senior Net Leverage Ratio (as defined in the Credit Agreement). On September 12, 2024, the Company entered into the Fourth Amendment to (i) change the requirements of certain financial maintenance covenants under the Credit Agreement for the fiscal quarter ending September 30, 2024, (ii) add a minimum liquidity covenant to the Credit Agreement and (iii) reduce the available revolving commitments available under the Credit Agreement to no more than $20.0 million through end of the agreement.

The Credit Agreement requires the Company to pay the lenders an unused commitment fee equal to the average unused portion of the Revolving Credit Facility. The Company pays a rate of 0.25% to 0.40% per annum of the average unused portion of the Revolving Credit Facility, determined by the Consolidated Senior Net Leverage Ratio (as defined in the Credit Agreement). If all or a portion of the loans under the Term Loan Facility are prepaid, then the Company will be required to pay a fee equal to 1% of the aggregate amount of the loans so prepaid, subject to certain exceptions.

The Credit Agreement contains restrictions and covenants applicable to the Company and its subsidiaries. Among other requirements, the Company may not permit the Fixed Charge Coverage Ratio (as defined in the Credit Agreement) to be less than a certain specified ratio for each fiscal quarter during the term of the Credit Agreement or the consolidated senior net leverage ratio to be greater than a certain specified ratio for each fiscal quarter during the term of the Credit Agreement.

A summary of interest expense on the 3.75% Convertible Senior Notes due June 1, 2026, the Revolving Credit Facility, and the Term Loan Facility is as follows (in thousands):

	Three Months Ended March 31,				Nine Months Ended March 31,
	2025		2024		2025		2024
Interest expense related to contractual interest coupon	$	2,390	$	2,623	$	7,510	$	7,945
Interest expense related to amortization of debt issuance costs		270		236		799		711
Total	$	2,660	$	2,859	$	8,309	$	8,656