Income Taxes (Tables)

12 Months Ended

Jun. 30, 2025

Income Tax Disclosure [Abstract]

Domestic and foreign components of income (loss)

The domestic and foreign components of income before taxes are:

	Year Ended June 30,
	2025		2024		2023
	(in thousands)
U.S. operations	$	8,229	$	9,079	$	19,001
Non-U.S. operations	(36,025)		(11,722)		711
Net income (loss) before income taxes	$	(27,796)	$	(2,643)	$	19,712

Provision for (benefit from) income taxes

The provision for income taxes is comprised of:

	Year Ended June 30,
	2025		2024		2023
	(in thousands)
U.S. federal taxes:
Current	$	721	$	485	$	1,093
Deferred	190		1,652		549
Non-U.S. taxes:
Current	3,972		3,187		4,620
Deferred	(13,502)		(1,669)		(404)
State taxes, net of federal benefit:
Current	(6)		(6)		79
Total provision (benefit) for income taxes	$	(8,625)	$	3,649	$	5,937

Effective income tax rate reconciliation

The reconciliation of the federal statutory income tax rate to our effective income tax rate is as follows (in percentage):

	Year Ended June 30,
	2025		2024		2023
United States statutory rate	21.0	%	21.0	%	21.0	%
Stock-based compensation	(0.3)		(3.7)		0.2
Foreign taxes, net	(38.9)		(186.9)		13.5
Outside basis difference on equity method investment	45.1		27.4		(1)
Tax credits	7.7		86.2		(13.3)
Non-deductible expenses	(1.0)		(6.9)		1.5
Tax exempt income	—		2.8		(1.5)
Withholding taxes	—		—		9.0
Non-deductible executive compensation	(6.0)		(78.6)		7.3
Foreign derived intangible income deduction	2.0		0.0		(7.2)
Other	1.4		0.6		0.6
	31.0	%	(138.1)	%	30.1	%

Components of deferred tax assets and liabilities

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred tax assets and liabilities are as follows:

	June 30,
	2025		2024
	(in thousands)
Deferred tax assets:
Accrued compensation	$	2,327	$	2,188
Net operating loss carryforwards	—		—
Depreciation	7,210		6,286
Tax credits	16,957		16,161
Operating lease liabilities	3,953		4,574
Capitalized R&D costs	1,302		1,398
Accruals and reserves	434		445
Total deferred tax assets	32,183		31,052
Valuation allowance	(8,751)		(7,266)
Total deferred tax assets, net of valuation allowance	23,432		23,786
Deferred tax liabilities:
Depreciation and amortization	(18,538)		(19,062)
Right of use assets	(3,724)		(4,328)
Investments	(13,763)		(26,263)
Total deferred tax liabilities	(36,025)		(49,653)
Net deferred tax liabilities	$	(12,593)	$	(25,867)

Schedule of deferred tax assets and liabilities, current and noncurrent

The breakdown between deferred tax assets and liabilities is as follows:

	June 30,
	2025		2024
	(in thousands)
Deferred tax assets	$	599	$	549
Deferred tax liabilities	(13,192)		(26,416)
Net deferred tax liabilities	$	(12,593)	$	(25,867)

Unrecognized tax benefits rollforward

A reconciliation of the beginning and ending amount of unrecognized tax benefits from July 1, 2022 to June 30, 2025 is as follows:

	Year Ended June 30,
	2025		2024		2023
	(in thousands)
Balance at beginning of year	$	10,088	$	9,335	$	8,609
Additions based on tax positions related to the current year	826		764		804
Reductions based on tax positions related to prior years	(5)		(11)		(68)
Reductions due to lapse of applicable statute of limitations	(167)		—		(10)
Balance at end of year	$	10,742	$	10,088	$	9,335