XML 45 R22.htm IDEA: XBRL DOCUMENT v3.23.2
Stockholders' Equity
12 Months Ended
Jun. 30, 2023
Equity [Abstract]  
Stockholders' Equity STOCKHOLDERS’ EQUITY
AOCI
The following table presents changes by component:
Foreign
Currency
Translation
Adjustment
Derivative
Valuation
Defined
Benefit Plan
Total
Balance as of June 30, 2020(1,095)(518)(474)(2,087)
Foreign currency translation(477)— — (477)
Actuarial gain / (losses) on defined benefit plan— — (26)(26)
Unrealized gains / (losses) on cash flow hedges— 202 — 202 
Reclassifications to earnings(173)— 163 (10)
Balance as of June 30, 2021(1,745)(316)(337)(2,398)
Foreign currency translation(2,281)— — (2,281)
Actuarial gain / (losses) on defined benefit plan— — 287 287 
Unrealized gains / (losses) on cash flow hedges— (905)— (905)
Reclassifications to earnings— 364 153 517 
Tax provision— 218 — 218 
Balance as of June 30, 2022(4,026)(639)103 (4,562)
Foreign currency translation(2,234) — (2,234)
Actuarial gain / (losses) on defined benefit plan— — (120)(120)
Unrealized gains / (losses) on cash flow hedges— (479)— (479)
Reclassifications to earnings— 1,156 89 1,245 
Tax provision— (162)— (162)
Balance as of June 30, 2023(6,260)(124)72 (6,312)
The following table presents the reclassifications from AOCI to the consolidated statements of comprehensive income:
For the year ended June 30,
Description of AOCI components202320222021Statement of Other
Comprehensive Income
Classification
Foreign currency translation gain173 — — Selling, general and administrative expense
Gains / (losses) on foreign currency hedges(1,201)(319)— Cost of services
Gains / (losses) on interest rate swap45 (45)— Interest expense, net
Tax provision162 (218)— Provision for income taxes
Total derivative valuation(994)(582)— 
Amortization related to defined benefit plan(89)(153)(163)Cost of services
Share buyback
In December 2021, the Company’s board of directors authorized the repurchase of up to $20 million of its common shares. The Company’s proposed repurchases may be made from time to time through open market transactions at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legal permissible means, depending on the market conditions and in accordance with applicable rules and regulations. The actual timing, number, and dollar amount of repurchase transactions will be determined by management at its discretion and will depend on a number of factors including, but not limited to, the market price of the Company’s common shares, general market and economic conditions, and compliance with Rule 10b-18 and/or Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. The repurchase program does not obligate the Company to acquire any particular amount of common shares, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion. For the years ended June 30, 2023 and 2022, the Company repurchased 17,558 and 227,889 shares, respectively, of its common shares totaling $0.3 million, and $3.4 million, respectively. The repurchase program expired December 9, 2022.

Dividend distribution
Prior to our initial public offering in fiscal year 2021, our board of directors approved a one-time dividend of $4.0 million reflecting a portion of the cash generation from the business during fiscal year 2020. The dividend was paid on July 24, 2020 to TRGI, the holder of our Series A preferred share, which was entitled to a dividend preference that expired upon conversion of the Series A preferred share to common shares upon the completion of our IPO.