XML 54 R33.htm IDEA: XBRL DOCUMENT v3.25.2
Loans Held For Investment (Tables)
 12 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Schedule of Loans Held For Investment Loans held for investment are included in prepaid expenses and other current assets in the accompanying consolidated balance sheets and consisted of the following as of the dates presented (in thousands):
June 30,
20252024
Unpaid principal balance (1)
$61,938 $44,491 
Less: Discount at loan purchase, net of amortization(1,527)(1,120)
Less: Allowance for expected credit losses(14,853)(4,700)
Loans held for investment, net$45,558 $38,671 
(1) The Company started offering only line of credit in June 2024 through the Originating Bank Partner. There were no term loans outstanding as of June 30, 2025 or originated during the year ended June 30, 2025. As of June 30, 2024, the outstanding balance of term loans, originated during fiscal 2024, was $24.2 million.
Schedule of Loans Held for Investment by Class Below is a summary of the loans held for investment by class (i.e., past due status) as of the dates presented (in thousands):
June 30,
2025
2024(1)
Current and less than 30 days past due$55,540 $39,130 
30 ~ 59 days past due1,471 1,617 
60 ~ 89 days past due1,461 1,469 
90 ~ 119 days past due1,685 1,142 
Over 119 days past due254 13 
Total$60,411 $43,371 
(1) The Company started offering only line of credit in June 2024 through the Originating Bank Partner, as such the entire line of credit outstanding balance of $19.2 million was included under 'Current and less than 30 days past due' as of June 30, 2024. The outstanding balance of term loans, originated during fiscal 2024, was $24.2 million as of June 30, 2024.
Schedule of Change in Allowance for Credit Losses
Below is a summary of the changes in allowance for expected credit losses (in thousands):
June 30,
20252024
Balance, beginning
$20,883 $15,498 
Provision for expected credit losses45,326 52,327 
Charge-off amounts(59,265)(51,805)
Recoveries collected8,076 4,863 
Balance, ending
$15,020 $20,883 
Below is a summary of the changes in allowance for credit losses presented (in thousands):
June 30,
20252024
Balance, beginning$4,700 $— 
Provision for expected credit losses27,032 7,884 
Charge-off amounts(17,382)(3,266)
Recoveries collected503 82 
Balance, end of period$14,853 $4,700