Income Taxes (Tables)

12 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Summary of Components of (loss) Income Before Income Taxes

The components of (loss) income before income taxes and equity in net loss of equity-method investees were as follows:

	Fiscal Year Ended June 30,
	2024			2023			2022
Domestic	$	(148,014	)	$	(183,601	)	$	24,541
Foreign		67,733			54,020			78,950
Total	$	(80,281	)	$	(129,581	)	$	103,491

Summary of the (Benefit) Provision for Income Taxes

The (benefit) provision for income taxes consisted of the following:

	Fiscal Year Ended June 30,
	2024			2023			2022
Current:
Federal	$	(55	)	$	3,103		$	(197	)
State and local		616			953			179
Foreign		14,980			7,719			13,714
		15,541			11,775			13,696
Deferred:
Federal		(23,403	)		(23,551	)		6,237
State and local		(2,386	)		271			(463	)
Foreign		2,428			(2,673	)		3,246
		(23,361	)		(25,953	)		9,020
Total	$	(7,820	)	$	(14,178	)	$	22,716

Schedule of Reconciliation of U.S Federal Statutory Rate to Effective Rate on (loss) Income before (Benefit) Provision for Income Taxes

The reconciliation of the U.S. federal statutory rate to the Company’s effective rate on (loss) income before (benefit) provision for income taxes is as follows:

	Fiscal Year Ended June 30,
	2024			%			2023			%			2022			%
Expected United States federal income tax at statutory rate	$	(16,857	)		21.0	%	$	(27,233	)		21.0	%	$	21,733			21.0	%
State income taxes, net of federal (benefit) provision		(5,060	)		6.3	%		(4,866	)		3.8	%		1,227			1.2	%
U.S. tax on foreign earnings		266			(0.3	)%		1,946			(1.5	)%		2,404			2.3	%
Foreign income at different rates		(313	)		0.3	%		(905	)		0.7	%		(576	)		(0.6	)%
Change in valuation allowance(a)		15,075			(18.8	)%		14,935			(11.5	)%		(220	)		(0.2	)%
Change in reserves for uncertain tax positions		2,044			(2.5	)%		637			(0.5	)%		(997	)		(1.0	)%
Change in foreign tax rate		—			—	%		—			—	%		(341	)		(0.3	)%
Loss on disposal of subsidiary		(1,116	)		1.4	%		—			—	%		—			—	%
Stock-based compensation	945				(1.2	)%		—			—	%		—			—	%
Return to provision		(4,274	)		5.3	%		—			—	%		—			—	%
Other		1,470			(1.8	)%		1,308			(1.1	)%		(514	)		(0.4	)%
(Benefit) provision for income taxes	$	(7,820	)		9.7	%	$	(14,178	)		10.9	%	$	22,716			22.0	%

(a) The Company estimated that it would not be able to utilize certain of its federal tax credit, federal tax losses and state tax loss carryovers due to its history of pretax losses and inability to carry back tax losses or credits for refunds. This negative evidence resulted in the Company increasing the valuation allowance on worldwide deferred tax assets in the year ended June 30, 2024 by $15,075, and in the year ended June 30, 2023 by $14,935.

Components of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities consisted of the following:

	Fiscal Year Ended June 30,
	2024			2023
Noncurrent deferred tax assets (liabilities):
Basis difference on inventory	$	4,884		$	5,130
Reserves not currently deductible		8,386			11,045
Basis difference on intangible assets		(62,549	)		(73,635	)
Basis difference on property and equipment		(14,946	)		(20,255	)
Other comprehensive income		(2,887	)		(3,498	)
Net operating loss and tax credit carryforwards		67,186			50,807
Stock-based compensation		1,591			1,937
Unremitted earnings of foreign subsidiaries		(1,873	)		(1,989	)
Operating lease liability		18,615			20,203
Lease ROU assets		(17,309	)		(19,113	)
Other		18,702			9,833
Valuation allowances		(67,626	)		(52,551	)
Noncurrent deferred tax liabilities, net	$	(47,826	)	$	(72,086	)

Summary of Changes in Valuation Allowances

The changes in valuation allowances against deferred income tax assets were as follows:

	Fiscal Year Ended June 30,
	2024			2023
Balance at beginning of year	$	52,551		$	36,891
Additions charged to income tax expense		18,998			23,212
Reductions credited to income tax expense		(3,858	)		(8,514	)
THWR purchase accounting		—			291
Currency translation adjustments		(65	)		671
Balance at end of year	$	67,626		$	52,551

Schedule of Unrecognized Tax Benefits, Including Interest and Penalties Activity

Unrecognized tax benefits activity, including interest and penalties, is summarized below:

	Fiscal Year Ended June 30,
	2024		2023			2022
Balance at beginning of year	$	23,967	$	21,901		$	22,870
Additions based on tax positions related to the current year		1,906		1,519			273
Additions based on tax positions related to prior years		187		815			304
Reductions due to lapse in statute of limitations and settlements		—		(268	)		(1,546	)
Balance at end of year	$	26,060	$	23,967		$	21,901