On July 3, 2025, the Company's board of directors declared a regular cash dividend of $0.20 per share of common stock to stockholders of record at the close of business on July 18, 2025. The dividend was paid on August 1, 2025 and totaled $4.9 million.

On October 28, 2025, the Company's board of directors declared a regular dividend of $0.20 per share of common stock to stockholders of record at the close of business on November 19, 2025. The dividend was paid on December 2, 2025 and totaled $4.9 million.

The Company has an ongoing share repurchase program authorizing the purchase of up to 2.0 million shares of common stock. As of December 31, 2025, 678,997 shares remain authorized for repurchase under the program. During the six months ended December 31, 2025, we did not repurchase any shares under our share repurchase program. From inception of the program through December 31, 2025, we repurchased a total of 1,321,003 shares for $37.3 million, of which 139,455 shares were repurchased from a related party (see Note 14 for further information). We are not obligated to repurchase any shares under the program, and repurchases under the program may be discontinued if management determines that additional repurchases are not warranted.

The Company's amended and restated 2014 Stock Award and Incentive Plan (the "2014 Plan") was approved most recently on October 27, 2022 by the Company's stockholders. As of December 31, 2025, 1,418,789 shares were available for issuance of new awards under the 2014 Plan. Under the 2014 Plan, the Company may grant stock options, restricted stock, RSUs, SARs, and other equity-based or cash incentive awards to employees, directors, and consultants. The plan permits performance-based and market-based conditions on awards. Authority to grant new awards under the plan expires on October 27, 2032.

The Company measures the compensation cost of stock options using the Black-Scholes option pricing model, which uses various inputs such as the market price per share of common stock and estimates that include the risk-free interest rate, volatility, expected life and dividend yield.

The Company incurred compensation expense related to stock options of $0.1 million and $0.0 million during the three months ended December 31, 2025 and 2024, respectively, and $0.2 million and $0.0 million during the six months ended December 31, 2025 and 2024, respectively. As of December 31, 2025, there was total remaining compensation expense of $1.3 million related to employee stock options, which will be recorded over a weighted-average vesting period of approximately 2.4 years. The Company recognizes forfeitures as they occur. The following table summarizes stock option activity:


	Options			Weighted-Average Exercise Price Per Share		Aggregate Intrinsic Value (in thousands)		Weighted-Average Grant Date Fair Value Per Award (1)
Fiscal 2025
Outstanding at June 30, 2024		1,158,530		$	7.10	$	29,354	$	3.53
Exercises		(230,668	)	$	14.23	$	6,828	$	6.56
Outstanding at December 31, 2024		927,862		$	5.32	$	20,607	$	2.78
Nonvested outstanding December 31, 2024		5,000		$	39.69	$	—	$	16.56
Exercisable at December 31, 2024		922,862		$	5.14	$	20,607	$	2.70

Fiscal 2026
Outstanding at June 30, 2025		1,177,862		$	9.68	$	15,728	$	4.39
Grants		30,000		$	20.57	$	404	$	7.65
Exercises		(222,183	)	$	8.30	$	4,208	$	2.98
Forfeitures		(100,000	)	$	25.24	$	—	$	10.09
Outstanding at December 31, 2025		885,679		$	8.64	$	22,563	$	4.21
Nonvested outstanding December 31, 2025		173,333		$	24.59	$	1,640	$	9.79
Exercisable at December 31, 2025		712,346		$	4.76	$	20,923	$	2.85

(1)

The Company issued the options with an exercise price per share not less than the closing market price of common stock on the grant date.


					Life (Years)					Contractual Life (Years)
$	—	$	5.00	542,562		3.67	$	1.96	542,562		3.67	$	1.96
$	5.01	$	7.50	6,000		1.07	$	6.05	6,000		1.07	$	6.05
$	7.51	$	12.50	100,117		0.14	$	9.25	100,117		0.14	$	9.25
$	12.51	$	30.00	227,000		8.51	$	23.04	53,667		5.93	$	18.05
$	30.01	$	50.00	10,000		7.09	$	39.69	10,000		7.09	$	39.69
				885,679		4.53	$	8.64	712,346		3.37	$	4.76

RSUs granted by the Company are not transferable and automatically convert to shares of common stock on a one-for-one basis as the awards vest or at a specified date after vesting. RSUs granted to a non-U.S. citizen are referred to as "deferred stock units" or "DSUs". The Company measures the compensation cost of RSUs based on the closing price of the underlying shares at the grant date. The Company recognizes forfeitures as they occur.

The Company incurred compensation expense related to RSUs of $0.3 million and $0.3 million during the three months ended December 31, 2025 and 2024, and $0.6 million and $0.6 million during the six months ended December 31, 2025 and 2024, respectively. As of December 31, 2025, there was $1.7 million of remaining compensation expense related to RSUs, which will be recorded over a weighted-average vesting period of approximately 1.9 years. The following table summarizes RSU activity:


	Awards Outstanding			Weighted-Average Fair Value per Unit at Grant Date
Fiscal 2025
Nonvested outstanding at June 30, 2024		61,317		$	30.61
Granted		15,965		$	30.06
Vested & delivered		(4,638	)	$	25.87
Vested & deferred (1)		(14,042	)	$	25.87
Nonvested outstanding at December 31, 2024		58,602		$	32.02
Vested but subject to deferred settlement at December 31, 2024 (1)		55,989		$	26.01
Outstanding at December 31, 2024		114,591		$	29.08
Fiscal 2026
Nonvested outstanding at June 30, 2025		82,690		$	26.59
Granted		30,433		$	25.02
Vested & deferred (1)		(16,100	)	$	29.93
Nonvested outstanding at December 31, 2025		97,023		$	25.57
Vested but subject to deferred settlement at December 31, 2025 (1)		70,267		$	27.48
Outstanding at December 31, 2025 (2)		167,290		$	26.37

(1)

Certain RSU holders elected to defer settlement of the RSUs to a specified date. The DSU holder is contractually obligated to defer settlement of the DSUs to a specified date following the holder’s termination of service.

(2)

Includes 3,133 RSUs that vest based on continuous employment and achievement of non-market performance goals through June 30, 2026.

Effective in the first quarter of fiscal 2024, the Company granted its chief executive officer a cash incentive bonus payable at the end of the fiscal 2024–2027 term, based on two percent of total stockholder return, net of salary and annual bonuses. The award is valued using a Black-Scholes model. The grant date fair value of this liability award was $5.7 million. The fair value of this liability award was $1.4 million as of December 31, 2025 resulting from the following assumptions: a performance bonus estimate of $1.8 million to be paid over the four-year term, a risk-free rate of 3.5%, and an equity volatility of 50.0%.

Compensation expense is recognized on a straight-line basis over the performance period, with the amount recognized fluctuating due to remeasurement of fair value at the end of each reporting period. The Company recognized compensation expense (income) related to this cash incentive bonus award of $0.7 million and ($1.3 million) during the three months ended December 31, 2025 and 2024, respectively, and $1.0 million and ($0.2 million) during the six months ended December 31, 2025 and 2024, respectively.