Restructuring Expense

3 Months Ended

Sep. 30, 2026

Restructuring and Related Activities [Abstract]

Restructuring Expense

5. Restructuring Expense

During the three months ended September 30, 2026 and 2025, Covista recorded restructuring expense primarily driven by prior real estate consolidations at Covista’s home office. We continue to incur restructuring charges or reversals related to exited leased space from previous restructuring actions. When estimating costs of exiting lease space, estimates are made which could differ materially from actual results and may result in additional restructuring charges or reversals in future periods. Termination benefit charges represent severance pay and benefits for employees impacted by workforce reductions. Restructuring expense was as follows (in thousands):

	Three Months Ended September 30, 2026
	Real Estate and Other		Termination Benefits		Total
Home Office	$	100	$	63	$	163
Total	$	100	$	63	$	163

	Three Months Ended September 30, 2025
	Real Estate and Other		Termination Benefits		Total
Medical and Veterinary	$	44	$	—	$	44
Home Office		145		121		266
Total	$	189	$	121	$	310

The following table summarizes the separation and restructuring plan activity for fiscal years 2026 and 2027, for which cash payments are required (in thousands):

Liability balance as of June 30, 2025	$	—
Increase in liability (termination and other charges)		5,592
Reduction in liability (payments and adjustments)		(4,068)
Liability balance as of June 30, 2026		1,524
Increase in liability (termination and other charges)		63
Reduction in liability (payments and adjustments)		(1,356)
Liability balance as of September 30, 2026	$	231

These liability balances are recorded within accrued liabilities on the Consolidated Balance Sheets.