FAIR VALUE OF FINANCIAL INSTRUMENTS

12 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

FAIR VALUE OF FINANCIAL INSTRUMENTS

The carrying amounts of certain of the Company’s financial instruments, including cash equivalents, accounts receivable, accounts payable and accrued expenses, are carried at cost which approximates fair value due to their liquid or short-term nature. We have not identified material factors that would significantly impact the fair value of our financial assets and liabilities. The Company’s obligations under its long-term debt agreements are carried at amortized cost, which approximates their fair value as of June 30, 2025, as the debt facility was recently amended in January 2025 and the interest rates applicable are variable in nature. The fair value of the Company’s obligations under its long-term debt agreement with JPMorgan and Capital One was considered Level 2 liabilities of the fair value hierarchy because the instruments have interest rates that reset frequently. As described in Note 10 - Acquisitions, the purchase price of SB Software includes contingent consideration which is considered Level 3 liabilities of the fair value hierarchy due to the use of significant unobservable inputs in its valuation.