Summary of Significant Accounting Policies (Tables)

3 Months Ended

Sep. 30, 2024

Summary of Significant Accounting Policies

Schedule of disaggregation of revenue

	Three Months Ended September 30,
	2024		2023
	(In thousands)
General Education	$	329,407	$	299,338
Career Learning
Middle - High School		198,885		150,974
Adult		22,792		29,869
Total Career Learning		221,677		180,843
Total Revenues	$	551,084	$	480,181

Schedule of accounts receivables, unbilled receivables and deferred revenue

	September 30,		June 30,		June 30,
	2024		2024		2023
	(In thousands)
Accounts receivable	$	675,709	$	472,754	$	463,722
Unbilled receivables (included in accounts receivable)		37,144		19,499		20,647
Deferred revenue		32,330		35,742		76,159
Deferred revenue, long-term (included in other long-term liabilities)		870		1,097		2,061

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	$	48,246	$	-	$	48,246	$	224	$	48,470
U.S. Treasury Notes		55,337		-		55,337		123		55,460
Commercial Paper		118,010		-		118,010		-		118,010
Total	$	221,593	$	-	$	221,593	$	347	$	221,940

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	$	45,752	$	-	$	45,752	$	(95)	$	45,657
U.S. Treasury Notes		46,760		-		46,760		(71)		46,689
Commercial Paper		121,077		-		121,077		2		121,079
Total	$	213,589	$	-	$	213,589	$	(164)	$	213,425

Schedule of useful lives of property and equipment

	Useful Life
Computer hardware	3 - 7 years
Computer software	3 - 5 years
Student and state testing computers and printers	3 years
Web site development	3 years
Office equipment	5 years
Furniture and fixtures	7 years
Leasehold improvements	Shorter of useful life or term of the lease

Schedule of intangible assets

	September 30, 2024						June 30, 2024
($ in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value		Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
Trade names	$	70.6	$	(24.7)	$	45.9	$	70.6	$	(23.5)	$	47.1
Customer and distributor relationships		37.1		(31.8)		5.3		37.1		(31.1)		6.0
Developed technology		21.7		(15.5)		6.2		21.7		(14.8)		6.9
Other		1.4		(1.1)		0.3		1.4		(1.1)		0.3
Total	$	130.8	$	(73.1)	$	57.7	$	130.8	$	(70.5)	$	60.3

Schedule of calculation of basic and diluted net income (loss) per share

	Three Months Ended September 30,
	2024		2023
	(In thousands except share and per share data)
Basic net income per share computation:
Net income attributable to common stockholders	$	40,882	$	4,878
Weighted average common shares  — basic		42,868,310		42,500,011
Basic net income per share	$	0.95	$	0.11
Diluted net income per share computation:
Net income attributable to common stockholders	$	40,882	$	4,878
Share computation:
Weighted average common shares  — basic		42,868,310		42,500,011
Effect of dilutive stock options and restricted stock awards		840,657		482,374
Weighted average common shares  — diluted		43,708,967		42,982,385
Diluted net income per share	$	0.94	$	0.11