Assets Held for Sale

12 Months Ended

Jun. 30, 2025

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Assets Held for Sale

7. Assets Held for Sale

An impairment loss of $10.2 million on assets held-for-sale was recorded in the fiscal year ended June 30, 2024, related to two parcels of land and building at the Fernley, Nevada location, comprising 12.44 acres and 11.55 acres, that the Company decided to sell. The fair value of the assets held-for-sale is classified within Level 3 of the fair value hierarchy and was determined based on indicative market listing prices of the assets. As of June 30, 2024, these assets had a carrying value of $8.4 million. As of June 30, 2025, the 11.55 acres of land, valued at $2.4 million, was no longer actively marketed for sale and was therefore reclassified back to property, plant, and equipment. As of June 30, 2025, the other parcel of land and building (12.44 acres) has a carrying value of $6.0 million and is subject to further impairment, if required, until the asset is sold. On July 28, 2025, a potential buyer canceled the Commercial/Investment Property Purchase Agreement and Joint Escrow Instructions.

As of March 31, 2025, the Company reclassified certain water rights with a carrying value of $3.8 million to assets held for sale in the consolidated balance sheet. This reclassification follows the company’s decision to actively market these water rights for sale to unrelated third parties.

As of June 30, 2025, there were no additional impairments on the assets held-for-sale.