Income Taxes

6 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

Note 11: Income Taxes

The effective tax rate was 25% and 32% for the three months ending December 31, 2024, and 2023, respectively. The difference between the Company’s effective tax rate for the three months ended December 31, 2024, and the federal statutory rate primarily resulted from state income taxes and Foreign Derived Intangible Income.

The effective tax rate was 14% and 32% for the six months ending December 31, 2024, and 2023, respectively. The difference between the Company’s effective tax rate for the six months ended December 31, 2024, and the federal statutory rate primarily resulted from state income taxes, Foreign Derived Intangible Income, and a discrete item from an out-of-measurement period adjustment to the deferred tax liability related to software costs.