SelectQuote (SLQT) 10-Q9 May 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Mar. 31, 2024	Apr. 30, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-39295
Entity Registrant Name	SelectQuote, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3339273
Entity Address, Address Line One	6800 West 115th Street
Entity Address, Address Line Two	Suite 2511
Entity Address, City or Town	Overland Park
Entity Address, State or Province	KS
Entity Address, Postal Zip Code	66211
City Area Code	913
Local Phone Number	599-9225
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	SLQT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		169,158,740
Entity Central Index Key	0001794783
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 37,808	$ 83,156
Accounts receivable, net of allowances of $6.5 million and $2.7 million, respectively	253,083	154,565
Commissions receivable-current	69,165	111,148
Other current assets	24,115	14,355
Total current assets	384,171	363,224
COMMISSIONS RECEIVABLE—Net	763,958	729,350
PROPERTY AND EQUIPMENT—Net	22,536	27,452
SOFTWARE—Net	13,952	14,740
OPERATING LEASE RIGHT-OF-USE ASSETS	19,341	23,563
INTANGIBLE ASSETS—Net	7,926	10,200
GOODWILL	29,136	29,136
OTHER ASSETS	4,119	21,586
TOTAL ASSETS	1,245,139	1,219,251
CURRENT LIABILITIES:
Accounts payable	61,168	27,577
Accrued expenses	21,058	16,993
Accrued compensation and benefits	57,483	49,966
Operating lease liabilities—current	4,663	5,175
Current portion of long-term debt	37,717	33,883
Contract liabilities	3,655	1,691
Other current liabilities	4,227	1,972
Total current liabilities	189,971	137,257
LONG-TERM DEBT, NET—less current portion	648,331	664,625
DEFERRED INCOME TAXES	35,057	39,581
OPERATING LEASE LIABILITIES	22,326	27,892
OTHER LIABILITIES	2,649	2,926
Total liabilities	898,334	872,281
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY:
Common stock, $0.01 par value	1,692	1,669
Additional paid-in capital	577,389	567,266
Accumulated deficit	(238,752)	(235,644)
Accumulated other comprehensive income	6,476	13,679
Total shareholders’ equity	346,805	346,970
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 1,245,139	$ 1,219,251

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2024	Jun. 30, 2023
Statement of Financial Position [Abstract]
Allowance for credit loss	$ 6.5	$ 2.7
Common stock, par value, (dollars per share)	$ 0.01	$ 0.01

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Revenues [Abstract]
Total revenue	$ 376,400	$ 299,398	$ 1,014,567	$ 781,070
OPERATING COSTS AND EXPENSES:
Cost of revenue	84,315	79,186	254,250	235,827
Cost of goods sold—pharmacy revenue	106,172	62,302	284,360	154,753
Marketing and advertising	109,276	90,205	288,676	237,724
Selling, general, and administrative	34,971	27,544	97,049	86,662
Technical development	8,604	6,434	24,291	18,860
Total operating costs and expenses	343,338	265,671	948,626	733,826
INCOME FROM OPERATIONS	33,062	33,727	65,941	47,244
INTEREST EXPENSE, NET	(24,330)	(21,105)	(70,141)	(58,885)
OTHER INCOME (EXPENSE,) NET	(12)	(206)	(51)	(118)
INCOME (LOSS) BEFORE INCOME TAX EXPENSE (BENEFIT)	8,720	12,416	(4,251)	(11,759)
INCOME TAX EXPENSE (BENEFIT)	169	3,152	(1,143)	(1,053)
NET INCOME (LOSS)	$ 8,551	$ 9,264	$ (3,108)	$ (10,706)
NET INCOME (LOSS) PER SHARE:
Basic (in dollars per share)	$ 0.05	$ 0.06	$ (0.02)	$ (0.06)
Diluted (in dollars per share)	$ 0.05	$ 0.06	$ (0.02)	$ (0.06)
WEIGHTED-AVERAGE COMMON STOCK OUTSTANDING USED IN PER SHARE AMOUNTS:
Basic (in shares)	169,070	166,543	168,291	165,951
Diluted (in shares)	170,956	167,905	168,291	165,951
OTHER COMPREHENSIVE INCOME (LOSS) NET OF TAX:
Gain (loss) on cash flow hedge	$ (1,771)	$ (2,661)	$ (7,203)	$ 1,358
OTHER COMPREHENSIVE INCOME (LOSS)	(1,771)	(2,661)	(7,203)	1,358
COMPREHENSIVE INCOME (LOSS)	6,780	6,603	(10,311)	(9,348)
Commission
Revenues [Abstract]
Total revenue	230,763	197,258	611,744	533,627
Pharmacy
Revenues [Abstract]
Total revenue	120,282	66,948	323,865	159,641
Other
Revenues [Abstract]
Total revenue	$ 25,355	$ 35,192	$ 78,958	$ 87,802

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Restricted Stock Units (RSUs)	Common Stock	Common Stock Restricted Stock Units (RSUs)	Additional Paid-In Capital	Additional Paid-In Capital Restricted Stock Units (RSUs)	Accumulated Deficit	Accumulated Other Comprehensive Income
Beginning balance (in shares) at Jun. 30, 2022			164,452,000
Beginning balance at Jun. 30, 2022	$ 391,105		$ 1,644		$ 554,845		$ (177,100)	$ 11,716
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	(10,706)						(10,706)
Gain (loss) on cash flow hedge, net of tax	5,895							5,895
Amount reclassified into earnings, net tax	(4,537)							(4,537)
Exercise of employee stock options, net of shares withheld for cashless exercises and to cover tax withholdings (in shares)			1,139,000
Exercise of employee stock options, net of shares withheld for cashless exercises and to cover tax withholdings	639		$ 12		627
Issuance of common stock pursuant to employee stock purchase plan (in shares)			877,000
Issuance of common stock pursuant to employee stock purchase plan	548		$ 9		539
Vesting of restricted stock unit awards and performance stock unit awards net of shares withheld to cover tax withholdings (in shares)				189,000
Vesting of restricted stock unit awards and performance stock unit awards net of shares withheld to cover tax withholdings		$ (40)		$ 2		$ (42)
Share-based compensation expense	8,515				8,515
Ending balance (in shares) at Mar. 31, 2023			166,657,000
Ending balance at Mar. 31, 2023	391,419		$ 1,667		564,484		(187,806)	13,074
Beginning balance (in shares) at Dec. 31, 2022			166,511,000
Beginning balance at Dec. 31, 2022	381,765		$ 1,665		561,435		(197,070)	15,735
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	9,264						9,264
Gain (loss) on cash flow hedge, net of tax	(484)							(484)
Amount reclassified into earnings, net tax	(2,177)							(2,177)
Exercise of employee stock options, net of shares withheld for cashless exercises and to cover tax withholdings (in shares)			23,000
Exercise of employee stock options, net of shares withheld for cashless exercises and to cover tax withholdings	42				42
Issuance of common stock pursuant to employee stock purchase plan (in shares)			97,000
Issuance of common stock pursuant to employee stock purchase plan	64		$ 1		63
Vesting of restricted stock unit awards and performance stock unit awards net of shares withheld to cover tax withholdings (in shares)				26,000
Vesting of restricted stock unit awards and performance stock unit awards net of shares withheld to cover tax withholdings		(6)		$ 1		(7)
Share-based compensation expense	2,951				2,951
Ending balance (in shares) at Mar. 31, 2023			166,657,000
Ending balance at Mar. 31, 2023	391,419		$ 1,667		564,484		(187,806)	13,074
Beginning balance (in shares) at Jun. 30, 2023			166,867,000
Beginning balance at Jun. 30, 2023	346,970		$ 1,669		567,266		(235,644)	13,679
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	(3,108)						(3,108)
Gain (loss) on cash flow hedge, net of tax	929							929
Amount reclassified into earnings, net tax	$ (8,132)							(8,132)
Exercise of employee stock options, net of shares withheld for cashless exercises and to cover tax withholdings (in shares)	16,000		16,000
Exercise of employee stock options, net of shares withheld for cashless exercises and to cover tax withholdings	$ 8				8
Vesting of restricted stock unit awards and performance stock unit awards net of shares withheld to cover tax withholdings (in shares)				2,276,000
Vesting of restricted stock unit awards and performance stock unit awards net of shares withheld to cover tax withholdings		(374)	$ 23			(397)
Share-based compensation expense	10,512				10,512
Ending balance (in shares) at Mar. 31, 2024			169,159,000
Ending balance at Mar. 31, 2024	346,805		$ 1,692		577,389		(238,752)	6,476
Beginning balance (in shares) at Dec. 31, 2023			168,974,000
Beginning balance at Dec. 31, 2023	336,517		$ 1,690		573,883		(247,303)	8,247
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	8,551						8,551
Gain (loss) on cash flow hedge, net of tax	858							858
Amount reclassified into earnings, net tax	(2,629)							(2,629)
Vesting of restricted stock unit awards and performance stock unit awards net of shares withheld to cover tax withholdings (in shares)				169,000
Vesting of restricted stock unit awards and performance stock unit awards net of shares withheld to cover tax withholdings		$ (15)		$ 2		$ (17)
Share-based compensation expense	3,515				3,515
Ending balance (in shares) at Mar. 31, 2024			169,159,000
Ending balance at Mar. 31, 2024	$ 346,805		$ 1,692		$ 577,389		$ (238,752)	$ 6,476

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (3,108)	$ (10,706)
Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities:
Depreciation and amortization	18,591	21,087
Loss on disposal of property, equipment, and software	13	390
Share-based compensation expense	10,512	8,525
Deferred income taxes	(2,151)	(1,416)
Amortization of debt issuance costs and debt discount	4,863	6,250
Write-off of debt issuance costs	293	710
Accrued interest payable in kind	14,323	8,450
Non-cash lease expense	1,945	3,115
Changes in operating assets and liabilities:
Accounts receivable, net	(98,519)	(62,738)
Commissions receivable	7,375	17,092
Other assets	(2,620)	3,166
Accounts payable and accrued expenses	36,073	6,440
Operating lease liabilities	(3,802)	(4,331)
Other liabilities	11,453	(8,869)
Net cash used in operating activities	(4,759)	(12,835)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(3,114)	(1,056)
Proceeds from sales of property and equipment	253	0
Purchases of software and capitalized software development costs	(6,065)	(5,804)
Net cash used in investing activities	(8,926)	(6,860)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on Term Loans	(30,412)	(17,833)
Payments on other debt	(112)	(123)
Proceeds from common stock options exercised and employee stock purchase plan	8	1,187
Payments of tax withholdings related to net share settlement of equity awards	(374)	(40)
Payments of debt issuance costs	(773)	(10,110)
Payment of acquisition holdback	0	(2,335)
Net cash used in financing activities	(31,663)	(29,254)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(45,348)	(48,949)
CASH AND CASH EQUIVALENTS—Beginning of period	83,156	140,997
CASH AND CASH EQUIVALENTS—End of period	37,808	92,048
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid, net	(50,023)	(43,309)
Income taxes paid	$ (185)	$ (15)

Summary of Business and Signifi

Summary of Business and Significant Accounting Policies	9 Months Ended
Summary of Business and Significant Accounting Policies	Mar. 31, 2024
Accounting Policies [Abstract]
SUMMARY OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES Description of Business —SelectQuote, Inc. (together with its subsidiaries, the “Company” or “SelectQuote”) is a leading technology-enabled, direct-to-consumer distribution platform for insurance products and healthcare services. We contract with insurance carriers to sell senior health, life, and auto and home insurance policies by telephone to individuals throughout the United States through the use of multi-channel marketing and advertising campaigns. SelectQuote’s Senior division (“Senior”) sells Medicare Advantage, Medicare Supplement, Medicare Part D, and other ancillary senior health insurance related products. SelectQuote’s Life division (“Life”) sells term life, final expense, and other ancillary products, and SelectQuote’s Auto & Home division (“Auto & Home”) primarily sells non-commercial auto and home, property and casualty insurance products. The Healthcare Services division (“Healthcare Services”) includes SelectRx and Population Health. SelectRx is a Patient-Centered Pharmacy Home™ (“PCPH”) accredited pharmacy, which offers essential prescription medications, OTC medications, customized medication packaging, and medication therapy management, providing long-term pharmacy care that enables patients to optimize medication adherence to drive positive health outcomes while enabling patients to remain at home. Population Health helps members understand the benefits available under their health plans, contracts with insurance carriers to complete health-risk assessments (“HRA”) on members, partners with value-based care (“VBC”) providers for a variety of healthcare-related services, and introduces members to the pharmacy services offered through SelectRx. Basis of Presentation —The accompanying unaudited condensed consolidated financial statements include the accounts of SelectQuote, Inc. and its wholly owned subsidiaries: SelectQuote Insurance Services, SelectQuote Auto & Home Insurance Services, LLC, ChoiceMark Insurance Services, Inc., Tiburon Insurance Services, InsideResponse, LLC (“InsideResponse”), and SelectQuote Ventures, Inc. The unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and reflect all normal recurring adjustments that are necessary to present fairly the results for the interim periods presented. All intercompany accounts and transactions have been eliminated in consolidation. Certain information and disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted in accordance with those rules and regulations and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements in our Annual Report on Form 10-K for the year ended June 30, 2023, filed with the Securities and Exchange Commission on September 13, 2023 (the “Annual Report”), and include all adjustments necessary for the fair presentation of our financial position for the periods presented. Our results for the periods presented in our financial statements are not necessarily indicative of the results to be expected for any subsequent period, including for the year ending June 30, 2024, and therefore should not be relied upon as an indicator of future results. The accompanying unaudited condensed consolidated financial statements and related notes should be read in conjunction with the audited consolidated financial statements for the year ended June 30, 2023. Use of Estimates —The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of revenues, expenses, assets, and liabilities and disclosure of contingent assets and liabilities. The Company regularly assesses these estimates; however, actual amounts could differ from those estimates. The most significant items involving management’s estimates include estimates of revenue recognition, accounts receivable, net, commissions receivable, the provision for income taxes, share-based compensation, and valuation of intangible assets and goodwill. The impact of changes in estimates is recorded in the period in which they become known. Seasonality —Medicare-eligible individuals are permitted to change their Medicare Advantage and Medicare Part D prescription drug coverage for the following year during the Medicare annual enrollment period (“AEP”) in October through December and are allowed to switch plans from an existing plan during the open enrollment period (“OEP”) in January through March each year. As a result, the Company’s Senior segment’s commission revenue is highest in the second quarter and to a lesser extent, the third quarter during OEP. Significant Accounting Policies —There have been no material changes to the Company’s significant accounting policies as described in our Annual Report. Recent Accounting Pronouncements Adopted —The Company did not adopt any new accounting pronouncements during the nine months ended March 31, 2024.

Acquisitions

Acquisitions	9 Months Ended
Acquisitions	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Acquisitions	ACQUISITIONS In accordance with Accounting Standards Codification (“ASC”) 805, Business Combinations (“ASC 805”), the Company allocates the fair value of purchase consideration to the tangible assets, liabilities, and intangible assets acquired based on fair values. Any excess purchase price over those fair values is recorded as goodwill. The fair value assigned to intangible assets acquired is supported by valuations using estimates and assumptions provided by management. Based on the valuation inputs, the Company has recorded assets acquired and liabilities assumed according to the following fair value hierarchy: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities Level 2 Unadjusted quoted prices in active markets for similar assets or liabilities; or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs other than quoted prices that are observable for the asset or liability. Level 3 Significant unobservable inputs for the asset or liability Express Med Pharmaceuticals —On April 30, 2021, the Company acquired 100% of the outstanding shares of Express Med Pharmaceuticals, Inc., which is included in SelectRx, a closed-door, long term care pharmacy provider, for an aggregate purchase price of up to $24.0 million, as set forth in the Stock Purchase Agreement dated April 30, 2021. The aggregate purchase price of up to $24.0 million is comprised of $17.5 million in cash paid at the closing of the transaction, an additional $2.5 million of holdback for indemnification claims, if any, and an earnout of up to $4.0 million, if any. The earnout of up to $4.0 million is comprised of two separate provisions. During the year ended June 30, 2023, the Company paid the first and second earnout provisions of $3.0 million and $1.0 million, respectively, as well as the remaining holdback, net of adjustments, of $2.4 million. At the date of acquisition, the fair value of net tangible assets acquired, excluding property and equipment, approximated their carrying value. The property and equipment was valued primarily using the cost and sales comparison approach to value. For the proprietary software acquired, the replacement cost method under the cost approach was used, estimating the cost to rebuild the software. The non-compete agreement was valued using the income approach, and the customer relationships were valued using the multiple period excess earnings method. As such, all aforementioned intangible assets were valued using Level 3 inputs. Goodwill resulting from the transaction constitutes the excess of the consideration paid over the fair values of the assets acquired and liabilities assumed and primarily represents the additional value of the synergies of combining the SelectRx business with the Company's technology and existing customer base. This acquired goodwill is allocated to the Healthcare Services reporting unit, which is also a reportable segment, and $16.3 million is deductible for tax purposes after adding back acquisition costs and settling the remaining holdback. The Company is amortizing the intangible assets acquired on a straight-line basis over their estimated remaining lives, ranging from one Simple Meds —On August 31, 2021, SelectRx acquired 100% of the outstanding equity interests of Simple Meds, a full-service pharmaceutical distributor, for an aggregate purchase price of $7.0 million, as set forth in the Membership Interest Purchase Agreement dated August 31, 2021. The aggregate purchase price of $7.0 million was paid in cash at the closing of the transaction. At the date of acquisition, the fair value of net tangible assets acquired approximated their carrying value. The customer relationships were valued using the multiple period excess earnings method, and as such, were valued using Level 3 inputs. Goodwill resulting from the transaction constitutes the excess of the consideration paid over the fair values of the assets acquired and liabilities assumed and primarily represents the additional value of the synergies of combining the Simple Meds business with the Company's technology and existing customer base. This acquired goodwill is allocated to the Healthcare Services reporting unit, which is also a reportable segment, and $5.6 million is deductible for tax purposes after adding back acquisition costs.

Property And Equipment_Net

Property And Equipment—Net	9 Months Ended
Property And Equipment—Net	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Property And Equipment—Net	PROPERTY AND EQUIPMENT—NET Property and equipment—net consisted of the following: (in thousands) March 31, 2024 June 30, 2023 Computer hardware $ 20,012 $ 20,970 Machinery and equipment (1) 15,700 14,825 Leasehold improvements 19,033 20,422 Furniture and fixtures 4,669 4,591 Work in progress 3,310 338 Total 62,724 61,146 Less accumulated depreciation (40,188) (33,694) Property and equipment—net $ 22,536 $ 27,452 (1) Includes financing lease right-of-use assets. Work in progress as of March 31, 2024, primarily represents equipment utilized in SelectRx operations, computer equipment held for sale and leasehold improvements not yet put into service and not yet being depreciated. Work in progress as of June 30, 2023, primarily represents leasehold improvements and computer equipment not yet put into service and not yet being depreciated. Depreciation expense for the three months ended March 31, 2024 and 2023, was $3.3 million and $3.7 million, respectively, and $9.4 million and $10.9 million for the nine months ended March 31, 2024 and 2023, respectively.

Software_Net

Software—Net	9 Months Ended
Software—Net	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Software—Net	SOFTWARE—NET Software—net consisted of the following: (in thousands) March 31, 2024 June 30, 2023 Software $ 38,601 $ 35,945 Work in progress 95 143 Total 38,696 36,088 Less accumulated amortization (24,744) (21,348) Software—net $ 13,952 $ 14,740 Work in progress as of March 31, 2024 and June 30, 2023, represents costs incurred for software not yet put into service and not yet being amortized. For the three months ended March 31, 2024 and 2023, the Company capitalized internal-use software and website development costs of $2.2 million and $1.8 million, respectively, and recorded amortization expense of $2.6 million and $2.0 million, respectively. For the nine months ended March 31, 2024 and 2023, the Company capitalized internal-use software and website development costs of $6.1 million and $5.7 million, respectively, and recorded amortization expense of $6.9 million and $5.9 million, respectively.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	9 Months Ended
Intangible Assets and Goodwill	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	INTANGIBLE ASSETS AND GOODWILL Intangible assets — The carrying amounts, accumulated amortization, and net carrying value of our definite-lived intangible assets are presented in the table below (dollars in thousands): March 31, 2024 June 30, 2023 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Impairment Charges (1) Accumulated Amortization Net Carrying Amount Customer relationships $ 17,492 $ (10,356) $ 7,136 $ 17,492 $ — $ (8,617) $ 8,875 Trade name 2,680 (2,100) 580 2,680 — (1,697) 983 Proprietary software 1,042 (875) 167 1,042 — (758) 284 Non-compete agreements 100 (57) 43 1,292 (533) (701) 58 Vendor relationships — — — 20,400 (15,111) (5,289) — Total intangible assets $ 21,314 $ (13,388) $ 7,926 $ 42,906 $ (15,644) $ (17,062) $ 10,200 (1) During the year ended June 30, 2023, the Company recorded impairment charges for its long-lived intangible assets recognized as part of the acquisition of a lead distribution company. Refer to the consolidated financial statements in our Annual Report on Form 10-K for additional details. The Company's intangible assets include those long-lived intangible assets which were recognized at their estimated acquisition date fair values. The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. There were no impairment triggers identified with respect to the Company’s long-lived assets during the three and nine months ended March 31, 2024 and 2023. For the three months ended March 31, 2024 and 2023, amortization expense related to intangible assets totaled $0.8 million and $1.4 million, respectively, and $2.3 million and $4.2 million for the nine months ended March 31, 2024 and 2023, respectively, recorded in selling, general, and administrative expense in the condensed consolidated statements of comprehensive income (loss). The weighted-average remaining useful life of intangible assets was 2.9 and 3.6 years as of March 31, 2024 and June 30, 2023, respectively. As of March 31, 2024, expected amortization expense in future fiscal periods were as follows (in thousands): Trade Name Proprietary Software Non-Compete Agreements Customer relationships Total Remainder fiscal 2024 $ 133 $ 39 $ 5 $ 580 $ 757 2025 447 128 20 2,316 2,911 2026 — — 18 2,313 2,331 2027 — — — 1,927 1,927 Total $ 580 $ 167 $ 43 $ 7,136 $ 7,926 Goodwill— The Company recorded as goodwill the excess of the purchase price over the estimated fair values of identifiable assets and liabilities acquired as part of the acquisitions discussed in Note 2 to the condensed consolidated financial statements. Goodwill is assigned to reporting units that are expected to benefit from the synergies of the business combination as of the acquisition date and becomes identified with that reporting unit in its entirety. As such, the reporting unit as a whole supports the recovery of its goodwill. As of March 31, 2024, the Company’s goodwill balance of $29.1 million was related to the acquisitions of Express Meds and Simple Meds and is all assigned to the Healthcare Services reporting unit and reportable segment. The Company performs its annual goodwill impairment testing as of April 1, or more frequently if it believes that indicators of impairment exist. During the three and nine months ended March 31, 2024 and 2023, there were no indicators of impairment.

Leases

Leases	9 Months Ended
Leases	Mar. 31, 2024
Leases [Abstract]
Leases	LEASES The majority of the Company’s leases are operating leases related to office space for which the Company recognizes lease expense on a straight-line basis over the respective lease term. The Company leases office facilities in the United States in San Diego, California; Centennial, Colorado; Overland Park, Kansas; Oakland, California; Indianapolis, Indiana; and Monaca, Pennsylvania. SelectRx leases the Monaca facility from an Executive Vice President of SelectRx. The Company expects to incur $3.6 million in total rental payments over the initial ten-year term plus an additional five-year extension option that it is reasonably certain to exercise. The Company's operating leases have remaining lease terms from less than one year up to twelve years. During the nine months ended March 31, 2024, the Company entered into a lease amendment for the Overland Park, Kansas office which extended the lease term for a portion of its office facilities resulting in additional right-of-use assets obtained in exchange for new lease liabilities of $0.6 million. In addition, as part of the amendment, the Company leased additional office facilities with an expected commencement date on or before June 1, 2024, which will result in additional right-of-use assets in exchange for new lease liabilities of $4.5 million, and executed the early termination option for a portion of its office facilities effective on the commencement date of the additional office space, resulting in remeasurement of the operating lease liability and accelerated amortization of the right-of-use asset over the shortened remaining term of the lease. During the nine months ended March 31, 2023, operating leases commenced in San Diego, California and Indianapolis, Indiana, resulting in new right-of-use assets obtained in exchange for new lease liabilities of $1.6 million. In addition, the Company exercised an early termination option for a portion of its office facilities in Overland Park, Kansas effective July 31, 2023, which resulted in an early termination penalty of $0.9 million, which was recorded as part of the remeasurement of the operating lease liability and resulted in accelerated amortization of the right-of-use asset over the shortened remaining term of the lease. Lease Costs —The components of lease costs were as follows for the periods presented: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2024 2023 2024 2023 Finance lease costs (1) $ 41 $ 43 $ 125 $ 129 Operating lease costs (2) 1,271 1,953 4,371 5,998 Short-term lease costs 61 74 183 137 Variable lease costs (3) 203 (6) 498 404 Sublease income (574) (671) (1,721) (1,756) Total net lease costs $ 1,002 $ 1,393 $ 3,456 $ 4,912 (1) Primarily consists of amortization of finance lease right-of-use assets and an immaterial amount of interest on finance lease liabilities recorded in operating costs and expenses and interest expense, net in the condensed consolidated statements of comprehensive income (loss). (2) Recorded in operating costs and expenses in the condensed consolidated statements of comprehensive income (loss). (3) Variable lease costs are not included in the measurement of the lease liability or right-of-use asset as they are not based on an index or rate and primarily represents common area maintenance charges and real estate taxes recorded in operating costs and expenses in the condensed consolidated statements of comprehensive income (loss). Maturities of Lease Liabilities —As of March 31, 2024, remaining maturities of lease liabilities for each of the next five fiscal years and thereafter are as follows: (in thousands) Operating leases Finance leases Total Remainder fiscal 2024 $ 1,915 $ 42 $ 1,957 2025 7,257 140 7,397 2026 6,708 38 6,746 2027 5,389 32 5,421 2028 4,832 — 4,832 Thereafter 11,025 — 11,025 Total undiscounted lease payments 37,126 252 37,378 Less: interest 10,137 19 10,156 Present value of lease liabilities $ 26,989 $ 233 $ 27,222 The Company executed noncancelable subleases for portions of its office facilities in Overland Park, Kansas and Centennial, Colorado, which commenced during the fiscal years ended June 30, 2023 and 2022, and run through July 31, 2029 and November 30, 2026, respectively. Sublease income is recorded on a straight-line basis as a reduction of lease expense in the condensed consolidated statements of comprehensive income (loss). The Company may consider entering into additional sublease arrangements in the future. Sublease Income —As of March 31, 2024, the future minimum fixed sublease receipts under non-cancelable operating lease agreements are as follows: (in thousands) Total Remainder fiscal 2024 $ 632 2025 2,548 2026 2,587 2027 2,180 2028 1,931 Thereafter 2,092 Total sublease income $ 11,970
Leases	LEASES The majority of the Company’s leases are operating leases related to office space for which the Company recognizes lease expense on a straight-line basis over the respective lease term. The Company leases office facilities in the United States in San Diego, California; Centennial, Colorado; Overland Park, Kansas; Oakland, California; Indianapolis, Indiana; and Monaca, Pennsylvania. SelectRx leases the Monaca facility from an Executive Vice President of SelectRx. The Company expects to incur $3.6 million in total rental payments over the initial ten-year term plus an additional five-year extension option that it is reasonably certain to exercise. The Company's operating leases have remaining lease terms from less than one year up to twelve years. During the nine months ended March 31, 2024, the Company entered into a lease amendment for the Overland Park, Kansas office which extended the lease term for a portion of its office facilities resulting in additional right-of-use assets obtained in exchange for new lease liabilities of $0.6 million. In addition, as part of the amendment, the Company leased additional office facilities with an expected commencement date on or before June 1, 2024, which will result in additional right-of-use assets in exchange for new lease liabilities of $4.5 million, and executed the early termination option for a portion of its office facilities effective on the commencement date of the additional office space, resulting in remeasurement of the operating lease liability and accelerated amortization of the right-of-use asset over the shortened remaining term of the lease. During the nine months ended March 31, 2023, operating leases commenced in San Diego, California and Indianapolis, Indiana, resulting in new right-of-use assets obtained in exchange for new lease liabilities of $1.6 million. In addition, the Company exercised an early termination option for a portion of its office facilities in Overland Park, Kansas effective July 31, 2023, which resulted in an early termination penalty of $0.9 million, which was recorded as part of the remeasurement of the operating lease liability and resulted in accelerated amortization of the right-of-use asset over the shortened remaining term of the lease. Lease Costs —The components of lease costs were as follows for the periods presented: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2024 2023 2024 2023 Finance lease costs (1) $ 41 $ 43 $ 125 $ 129 Operating lease costs (2) 1,271 1,953 4,371 5,998 Short-term lease costs 61 74 183 137 Variable lease costs (3) 203 (6) 498 404 Sublease income (574) (671) (1,721) (1,756) Total net lease costs $ 1,002 $ 1,393 $ 3,456 $ 4,912 (1) Primarily consists of amortization of finance lease right-of-use assets and an immaterial amount of interest on finance lease liabilities recorded in operating costs and expenses and interest expense, net in the condensed consolidated statements of comprehensive income (loss). (2) Recorded in operating costs and expenses in the condensed consolidated statements of comprehensive income (loss). (3) Variable lease costs are not included in the measurement of the lease liability or right-of-use asset as they are not based on an index or rate and primarily represents common area maintenance charges and real estate taxes recorded in operating costs and expenses in the condensed consolidated statements of comprehensive income (loss). Maturities of Lease Liabilities —As of March 31, 2024, remaining maturities of lease liabilities for each of the next five fiscal years and thereafter are as follows: (in thousands) Operating leases Finance leases Total Remainder fiscal 2024 $ 1,915 $ 42 $ 1,957 2025 7,257 140 7,397 2026 6,708 38 6,746 2027 5,389 32 5,421 2028 4,832 — 4,832 Thereafter 11,025 — 11,025 Total undiscounted lease payments 37,126 252 37,378 Less: interest 10,137 19 10,156 Present value of lease liabilities $ 26,989 $ 233 $ 27,222 The Company executed noncancelable subleases for portions of its office facilities in Overland Park, Kansas and Centennial, Colorado, which commenced during the fiscal years ended June 30, 2023 and 2022, and run through July 31, 2029 and November 30, 2026, respectively. Sublease income is recorded on a straight-line basis as a reduction of lease expense in the condensed consolidated statements of comprehensive income (loss). The Company may consider entering into additional sublease arrangements in the future. Sublease Income —As of March 31, 2024, the future minimum fixed sublease receipts under non-cancelable operating lease agreements are as follows: (in thousands) Total Remainder fiscal 2024 $ 632 2025 2,548 2026 2,587 2027 2,180 2028 1,931 Thereafter 2,092 Total sublease income $ 11,970

Debt

Debt	9 Months Ended
Debt	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	DEBT Debt consisted of the following: (in thousands) March 31, 2024 June 30, 2023 Term Loans (effective interest rate 14.8%) $ 691,420 $ 707,509 Unamortized debt issuance costs and debt discount (5,372) (9,001) Total debt 686,048 698,508 Less current portion of long-term debt: (37,717) (33,883) Long-term debt $ 648,331 $ 664,625 Senior Secured Credit Facility — On November 5, 2019, the Company entered into a $425.0 million credit agreement with UMB Bank N.A. (“UMB”) as a lender and revolving agent and Morgan Stanley Capital Administrators, Inc. as a lender and the administrative agent for a syndicate of lenders party to the agreement (replaced by Wilmington Trust as administrative agent effective February 24, 2022). On February 24, 2021, November 2, 2021, December 23, 2021, August 26, 2022, May 5, 2023, September 11, 2023, November 1, 2023, and February 7, 2024, the Company entered into amendments to the credit agreement ( individually, the “First Amendment”, “Second Amendment”, “Third Amendment” , “Fourth Amendment”, “Fifth Amendment”, “Sixth Amendment”, “Seventh Amendment”, and “Eighth Amendment”, together with the original credit agreement and any subsequent amendments, the “Senior Secured Credit Facility” ) with certain of its existing lenders and new lenders. The First Amendment provided for an additional $231.0 million in term loans (together with the initial $425.0 million, the “Term Loans”) and added a $145.0 million se nior secured delayed draw term loan facility (the "DDTL Facility") . The Second Amendment provided for additional commitments of $25.0 million, in addition to the initial $75.0 million, for the s ecured revolving loan facility (the “Revolving Credit Facility”) and an additional $200.0 million under the DDTL Facility. The Third Amendment provided for additional commitments of $35.0 million under the Revolving Credit Facility. T he Fourth Amendment (1) amended the Company’s existing financial covenant to better align with its business plan and added an additional minimum liquidity covenant, (2) terminated certain DDTL commitments and reduced the Revolving Credit Facility from $135.0 million to $100.0 million, (3) introduced a minimum asset coverage ratio for any borrowing on the Revolving Credit Facility t hat would result in a total revolving exposure of more than $50.0 million, and (4) provided certain lenders with the right to appoint a representative to observe meetings of the Company’s board of directors and certain of its committees. In addition, the Fourth Amendment provided for the Company to pay a revolving credit termination fee of $0.5 million for the ratable account of each revolving lender upon the termination of all revolving loan commitments. Note that pursuant to the Fourth Amendment, upon termination of the outstanding DDTL commitments, when referring to Term Loans, it will now include the outstanding balance of the previously defined Term Loans and also the outstanding balance of the DDTL, and “DDTL” will no longer be referenced. The Fifth Amendment decreased the minimum asset coverage ratio required to be maintained by the Company as of March 31, 2024, and the Sixth Amendment decreased the minimum asset coverage ratio required to be maintained by th e Company as of June 30, 2024. The Seventh Amendment amended the Senior Secured Credit Facility to decrease the minimum asset coverage ratio and minimum liquidity covenant required to be maintained by th e Company as of September 30, 2024, and December 31, 2023, respectively. T he Eighth Amendment (1) established a new $692.0 million class of extended term loans and extended the maturity date applicable thereto to February 15, 2025, (2) reduced the aggregate revolving credit commitment amounts to an aggregate amount of $73.6 million, further reducing to $73.0 million, $72.4 million, and $71.7 million as of March 31, 2024, June 30, 2024, and September 30, 2024, respectively; and terminated an aggregate amount of $25.8 million of the non-extended revolving credit commitments, (3) created a class of non-extended term loans of $9.4 million having a maturity date of November 5, 2024, for certain Term Loan le nders that elected not to extend the maturity date applicable to those loans, (4) established a minimum asset coverage ratio covenant as of December 31, 2024, and (5) revised the minimum liquidity covenants based on the reduced revolving credit commitments. Pursuant to the amendment, the Company paid fees of $0.7 million to its lenders. After giving effect to the amendments, in aggregate, the Senior Secured Credit Facility provides for (1) an aggregate principal amount of up to $73.0 million under the Revolving Credit Facility, of which all was available to borrow as of March 31, 2024 and (2) Term Loans outstanding in an aggregate principal amount of $691.4 million as of March 31, 2024. The Term Loans bear interest on the outstanding principal amount thereof at a rate per annum equal to either (a) SOFR (subject to a floor of 0.75%) plus 6.00% in cash plus 2.00% payable in kind or (b) a base rate plus 5.00% in cash plus 2.00% payable in kind, at the Company’s option. As of October 1, 2023, the cash and paid in kind interest rate with respect to the Term Loans increased 0.50% and 1.00%, respectively. The Revolving Credit Facility accrues interest on amounts drawn at a rate per annum equal to either (a) SOFR (subject to a floor of 1.0%) plus 5.0% or (b) a base rate plus 4.0%, at the Company’s option. The Term Loans are mandatorily repayable in equal quarterly installments in an aggregate annual amount equal to 2.5% of the outstanding principal amount of the Term Loans as of the Fourth Amendment effective date, which increased to 4.75% on July 1, 2023, with the remaining balance payable on the maturity date. As of March 31, 2024, the Company has made principal payments of $235.9 million on the Term Loans. The Senior Secured Credit Facility contains customary affirmative and negative covenants and events of default and financial covenants requiring the Company and certain of its subsidiaries to maintain a minimum asset coverage ratio and minimum liquidity requirements. As of March 31, 2024, the Company was in compliance with all of the required covenants. The obligations of the Company are guaranteed by the Company’s subsidiaries and secured by a security interest in all assets of the Company, subject to certain exceptions. The Company has incurred a total of $40.9 million in debt issuance costs and debt discounts related to the Senior Secured Credit Facility, of which $33.8 million was capitalized. The costs associated with the Revolving Credit Facility are being amortized on a straight-line basis over the remaining life of the Senior Secured Credit Facility and the costs associated with the Term Loans are being amortized using the effective interest method over the same term. Total amortization of debt issuance costs was $1.5 million and $2.3 million for the three months ended March 31, 2024 and 2023, respectively, and $4.9 million and $6.3 million for the nine months ended March 31, 2024 and 2023, respectively, which was included in interest expense, net in the Company’s condensed consolidated statements of comprehensive income (loss). The Company uses derivative financial instruments to hedge against its exposure to fluctuations in interest rates associated with the Term Loans. On September 30, 2022, as a result of the Fourth Amendment, the Company terminated its existing interest rate swap indexed to 1-month LIBOR and executed a new interest rate swap indexed to 1-month SOFR. In accordance with ASC 848, Reference Rate Reform , the Company did not de-designate the interest rate swap when it was amended from LIBOR to SOFR as the Company is permitted to maintain the designation as part of the transitional relief. As of March 31, 2024, the Company’s interest rate swap is a receive-variable, pay-fixed interest rate swap on the notional amount of $325.0 million of the Company’s total outstanding Term Loans balance with a fixed rate of 6.00% plus 0.931% (the “Amended Interest Rate Swap”), which terminates on November 5, 2024. As of March 31, 2024, the Amended Interest Rate Swap had a fair value of $8.3 million and was recorded in other current assets in the condensed consolidated balance sheet. The Company classifies its Amended Interest Rate Swap as a Level 2 on the fair value hierarchy as the majority of the inputs used to value it primarily includes other than quoted prices that are observable and it uses standard calculations and models that use readily observable market data as their basis. The Company estimates that through the maturity date of November 5, 2024, $8.1 million will be reclassified into interest expense.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Lease Obligations —Refer to Note 6 to the condensed consolidated financial statements for commitments related to our operating leases. Legal Contingencies and Obligations —From time to time, the Company is subject to legal proceedings and governmental inquiries in the ordinary course of business. Such matters may include insurance regulatory claims; commercial, tax, employment, or intellectual property disputes; matters relating to competition and sales practices; claims for damages arising out of the use of the Company’s services. The Company may also become subject to lawsuits related to past or future acquisitions, divestitures, or other transactions, including matters related to representations and warranties, indemnities, and assumed or retained liabilities. The Company is not currently aware of any legal proceedings or claims that it believes will have, individually or in the aggregate, a material adverse effect on its business, financial condition, operating results, or cash flows; however, in the event of unexpected developments, it is possible that the ultimate resolution of certain ongoing matters, if unfavorable, could be materially adverse to our business, prospects, financial condition, liquidity, results of operation, cash flows, or capital levels. Securities Class Actions and Stockholder Derivative Suit On August 16, 2021, a putative securities class action lawsuit captioned Hartel v. SelectQuote, Inc., et al. , Case No. 1:21-cv-06903 (“the Hartel Action”) was filed against the Company and two of its executive officers in the U.S. District Court for the Southern District of New York. The complaint asserts securities fraud claims on behalf of a putative class of plaintiffs who purchased or otherwise acquired shares of the Company’s common stock between February 8, 2021 and May 11, 2021 (the "Hartel Relevant Period"). Specifically, the complaint alleges the defendants violated Sections 10(b) and 20(a) and Rule 10b-5 of the Exchange Act by making materially false and misleading statements and failing to disclose material adverse facts about the Company’s business, operations, and prospects, allegedly causing the Company’s common stock to trade at artificially inflated prices during the Hartel Relevant Period. The plaintiffs seek unspecified damages and reimbursement of attorneys’ fees and certain other costs. On October 7, 2021, a putative securities class action lawsuit captioned West Palm Beach Police Pension Fund v. SelectQuote, Inc., et al. , Case No. 1:21-cv-08279 (“the WPBPPF Action”), was filed in the U.S. District Court for the Southern District of New York against the Company, two of its executive officers, and six current or former members of the Company’s Board of Directors, along with the underwriters of the Company’s initial public offering of common stock (the "Offering"). The complaint asserts claims for securities law violations on behalf of a putative class of plaintiffs who purchased shares of the Company’s common stock (i) in or traceable to the Offering or (ii) between May 20, 2020 and August 25, 2021 (the "WPB Relevant Period"). Specifically, the complaint alleges the defendants violated Sections 10(b) and 20(a) and Rule 10b-5 of the Exchange Act by making materially false and misleading statements and failing to disclose material adverse facts about the Company’s financial well-being and prospects, allegedly causing the Company’s common stock to trade at artificially inflated prices during the WPB Relevant Period. The complaint also alleges the defendants violated Sections 11, 12(a)(2), and 15 of the Securities Act by making misstatements and omissions of material facts in connection with the Offering, allegedly causing a decline in the value of the Company’s common stock. The plaintiffs seek unspecified damages, rescission, and reimbursement of attorneys’ fees and certain other costs. On October 15, 2021, a motion to consolidate the Hartel Action and the WPBPPF Action was filed. On September 2, 2022, the court entered an order consolidating the Hartel and WPBPPF Actions under the caption In re SelectQuote, Inc. Securities Litigation , Case No. 1:21-cv-06903 (the “Securities Class Action”) and appointing the West Palm Beach Police Pension Fund and City of Fort Lauderdale Police & Fire Retirement System as lead plaintiffs. On November 19, 2022, plaintiffs filed an amended complaint asserting similar allegations to those alleged in the Hartel and WPBPPF Actions in addition to new allegations regarding certain defendants’ purported violation of Section 20A of the Exchange Act. The amended complaint also added Brookside Equity Partners LLC, one of the Company’s principal stockholders, as a defendant. On January 27, 2023, the Company filed a motion to dismiss the amended complaint on behalf of itself and certain of its current and former officers and directors. Plaintiffs filed an opposition to the motion to dismiss on April 5, 2023, and the Company filed its reply to plaintiffs’ opposition on May 10, 2023. On March 28, 2024, the court granted the Company’s motion to dismiss, with leave to amend. Plaintiffs’ deadline for filing a second amended complaint is May 31, 2024. On March 25, 2022, a stockholder derivative action captioned Jadlow v. Danker, et al. , Case No. 1:22-cv-00391 (“the Jadlow Action”) was filed in the U.S. District Court for the District of Delaware by an alleged stockholder of the Company, purportedly on the Company’s behalf. The lawsuit was brought against certain of the Company’s current and former directors and officers, and against the Company, as nominal defendant. The complaint alleges that certain of the defendants violated Section 14(a) of the Exchange Act by making materially false and misleading statements and failing to disclose material adverse facts about the Company’s business, operations, and prospects. The complaint also asserts claims against all defendants for breach of fiduciary duty, unjust enrichment, abuse of control, gross mismanagement, and waste of corporate assets based on the same general underlying conduct and seeks contribution under Sections 10(b) and 21D of the Exchange Act and Section 11(f) of the Securities Act from the individual defendants named in the Securities Class Actions. The complaint seeks unspecified damages for the Company, restitution, reformation and improvement of its corporate governance and internal procedures regarding compliance with laws, and reimbursement of costs and attorneys’ fees. On July 25, 2022, the Jadlow action was transferred to the U.S. District Court for the Southern District of New York, where it was assigned Case No. 1:22-cv-06290 and referred to Judge Alvin K. Hellerstein as possibly related to the Hartel Action. On August 4, 2022, Judge Hellerstein accepted the Jadlow action as related to the Hartel Action and, on August 10, 2022, granted the parties’ joint stipulation to stay the Jadlow action pending the resolution of the motion to dismiss the Securities Class Action. The Company currently believes that these matters will not have a material adverse effect on its operations, financial condition or liquidity; however, depending on how the matters progress, they could be costly to defend and could divert the attention of management and other resources from operations. The Company has not concluded that a loss related to these matters is probable and, therefore, has not accrued a liability related to these matters

Shareholders' Equity

Shareholders' Equity	9 Months Ended
Shareholders' Equity	Mar. 31, 2024
Equity [Abstract]
Shareholders' Equity	SHAREHOLDERS' EQUITY Common Stock —As of March 31, 2024, the Company has reserved the following authorized, but unissued, shares of common stock: Employee Stock Purchase Plan 159 Stock awards outstanding under 2020 Plan 18,457,999 Stock awards available for grant under 2020 Plan 2,849,703 Options outstanding under 2003 Plan 523,356 Total 21,831,217 Share-Based Compensation Plans The Company has awards outstanding from two share-based compensation plans: the 2003 Stock Incentive Plan (the “2003 Stock Plan”) and the 2020 Omnibus Incentive Plan (the “2020 Stock Plan” and, collectively with the 2003 Stock Plan, the “Stock Plans”). However, no further awards will be made under the 2003 Stock Plan. The Company's Board of Directors adopted, and shareholders approved, the 2020 Stock Plan in connection with the Company’s IPO, which provides for the grant of incentive stock options (“ISO's”), nonstatutory stock options (“NSO's”), stock appreciation rights, restricted stock awards, restricted stock unit awards (“RSU's”), performance-based restricted stock units (“PSU's”), price-vested restricted stock units (“PVU’s”), and other forms of equity compensation (collectively, “stock awards”). All stock awards (other than ISOs, which may be granted only to current employees of the Company) may be granted to employees, non-employee directors, and consultants of the Company and its subsidiaries and affiliates. The number of shares of common stock available for issuance as of March 31, 2024, pursuant to future awards under the Company's 2020 Stock Plan is 2,849,703. The number of shares of the Company's common stock reserved under the 2020 Stock Plan is subject to an annual increase on the first day of each fiscal year, beginning on July 1, 2021, equal to 3% of the total outstanding shares of common stock as of the last day of the immediately preceding fiscal year. The maximum number of shares of common stock that may be issued upon the exercise of ISO's will be 4,000,000. The shares of common stock covered by any award that is forfeited, terminated, expired, or lapsed without being exercised or settled for cash will again become available for issuance under the 2020 Stock Plan. With respect to any award, if the exercise price and/or tax withholding obligations are satisfied by delivering shares to the Company (by actual delivery or attestation), or if the exercise price and/or tax withholding obligations are satisfied by withholding shares otherwise issuable pursuant to the award, the share reserve shall nonetheless be reduced by the gross number of shares subject to the award. The Company accounts for its share-based compensation awards in accordance with ASC 718, Compensation—Stock Compensation (“ASC 718”) which requires all share-based compensation to be recognized in the income statement based on fair value and applies to all awards granted, modified, canceled, or repurchased after the effective date. Total share-based compensation for stock awards included in selling, general, and administrative expense in the condensed consolidated statements of comprehensive income (loss) was as follows for the periods presented: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2024 2023 2024 2023 Share-based compensation related to: Equity classified stock options $ 673 $ 799 $ 2,109 $ 2,495 Equity classified RSU's 1,992 1,563 5,850 4,490 Equity classified PSU's — 77 33 29 Equity classified PVU's 850 486 2,520 1,384 Total $ 3,515 $ 2,925 $ 10,512 $ 8,398 Stock Options — The stock options outstanding under the 2003 Stock Plan vest as to one-third after the vesting commencement date and as to 1/24 of the remaining shares subject to the stock option monthly thereafter, subject to the award recipient’s continued employment through the applicable vesting date. Upon a termination of employment for any reason other than for “Cause” (as defined in the 2003 Stock Plan), any unvested and outstanding stock options would generally be forfeited for no consideration, and any vested and outstanding stock options would remain exercisable for 90 days following the date of termination (and, in the case of a termination of employment due to death or disability, for 12 months following the date of termination). Stock options expire 10 years from the date of grant. The terms for ISO's and NSO's awarded in the 2020 Stock Plan are the same as in the 2003 Stock Plan with the exception that the options generally shall vest and become exercisable in four equal installments on each of the first four anniversaries of the grant date, subject to the award recipient’s continued employment through the applicable vesting date. Stock options are granted with an exercise price that is no less than 100% of the fair market value of the underlying shares on the date of the grant. The fair value of each option (for purposes of calculation of share-based compensation expense) is estimated using the Black-Scholes-Merton option pricing model that uses assumptions determined as of the date of the grant. Use of this option pricing model requires the input of subjective assumptions. These assumptions include estimating the length of time employees will retain their vested stock options before exercising them (“expected term”), the estimated volatility of the Company's common stock price over the expected term (“volatility”), the number of options that will ultimately not complete their vesting requirements (“assumed forfeitures”), the risk-free interest rate that reflects the interest rate at grant date on zero-coupon United States governmental bonds that have a remaining life similar to the expected term (“risk-free interest rate”), and the dividend yield assumption which is based on the Company's dividend payment history and management's expectations of future dividend payments (“dividend yield”). Changes in the subjective assumptions can materially affect the estimate of the fair value of share-based compensation and, consequently, the related amount recognized in the condensed consolidated statements of comprehensive loss. During the nine months ended March 31, 2024 and 2023, there were no stock options granted. The following table summarizes stock option activity under the Stock Plans for the nine months ended March 31, 2024: Number of Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (in Years) Aggregate Intrinsic Value (in Thousands) Outstanding—June 30, 2023 3,847,339 $ 11.56 Options granted — — Options exercised (16,000) 0.53 Options forfeited/expired/cancelled (64,358) 7.38 Outstanding—March 31, 2024 3,766,981 $ 11.68 6.70 $ 178 Vested and exercisable—March 31, 2024 2,505,019 $ 11.77 6.35 $ 178 As of March 31, 2024, there was $2.7 million in unrecognized compensation cost related to unvested stock options granted, which is expected to be recognized over a weighted-average period of 1.34 years. The Company received less than $0.1 million of cash in connection with stock options exercised in each of the three months ended March 31, 2024 and 2023, and less than $0.1 million and $0.6 million in connection with stock options exercised during the nine months ended March 31, 2024 and 2023, respectively. Restricted Stock —The Company grants RSU's to eligible employees, non-employee directors, and contractors. These awards generally vest over a period of one The following table summarizes restricted stock unit activity under the 2020 Stock Plan for the nine months ended March 31, 2024: Number of Restricted Stock Units Weighted-Average Grant Date Fair Value Unvested as of June 30, 2023 4,911,613 $ 2.57 Granted 6,578,688 1.49 Vested (2,468,847) 2.08 Forfeited (217,727) 2.12 Unvested as of March 31, 2024 8,803,727 $ 1.91 As of March 31, 2024, there was $11.9 million of unrecognized compensation cost related to unvested restricted stock units granted, which is expected to be recognized over a weighted-average period of 1.87 years. Performance Stock — The following table summarizes performance stock unit activity under the 2020 Stock Plan for the nine months ended March 31, 2024: Number of Performance Stock Units Weighted-Average Grant Date Fair Value Unvested as of June 30, 2023 13,365 $ 17.96 Granted — — Vested (14,477) 17.95 Forfeited — — Performance adjustment (1) 1,112 — Unvested as of March 31, 2024 — $ — (1) Represents adjustments to previously granted PSU’s to reflect changes in estimates of future financial performance against targets. If certain performance metrics are met, PSU’s vest at the end of a three-year performance period. The fiscal year 2021 tranche vested on September 13, 2023, at 13% of the target and 14,477 shares were issued. The number of shares that could be earned for the fiscal year 2022 tranche is estimated to be at 0% of the target as of March 31, 2024. As such, as of March 31, 2024, there was no unrecognized compensation cost related to unvested performance stock units granted. Price-Vested Units —The Company grants PVU's to eligible employees for which vesting is subject to the fulfillment of both a service period and the achievement of stock price hurdles during the relevant performance period. The awards are divided into four separate tranches, each with a different price hurdle which is measured as the average trading price over 60 calendar days on a rolling daily basis, over a performance period of five years. An employee is eligible to vest in one-third of the awards in each tranche after each year of service, but subject to the achievement of the stock-price hurdle attached to each tranche. As a result, share-based compensation will be recognized on a straight-line basis across twelve tranches over each tranche’s requisite service period, which is the greater of the derived service period and the explicit service period. The following table summarizes the number of shares, stock price hurdles, service periods, and performance periods for each tranche, for the PVU’s awarded during the nine months ended March 31, 2024: Number of Shares per Tranche Grant Date Fair Value (per Share) Stock Price Hurdle (per Share) Performance Period Requisite Service Period Tranche 1 559,202 $ 1.85 $ 2.50 August 1, 2023 - August 1, 2028 1 year - 3 years Tranche 2 559,175 $ 1.69 $ 5.00 August 1, 2023 - August 1, 2028 1.41 years - 3 years Tranche 3 559,213 $ 1.55 $ 7.50 August 1, 2023 - August 1, 2028 1.96 years - 3 years Tranche 4 559,185 $ 1.45 $ 10.00 August 1, 2023 - August 1, 2028 2.27 years - 3 years Tranche 5 8,439 $ 0.98 $ 2.50 February 1, 2024 - February 1, 2029 1.29 years - 3 years Tranche 6 8,437 $ 0.84 $ 5.00 February 1, 2024 - February 1, 2029 2.20 years - 3 years Tranche 7 8,441 $ 0.75 $ 7.50 February 1, 2024 - February 1, 2029 2.64 years - 3 years Tranche 8 8,438 $ 0.67 $ 10.00 February 1, 2024 - February 1, 2029 2.90 years - 3 years The following table summarizes the number of shares, stock price hurdles, service periods, and performance periods for each tranche, for the PVU’s awarded during the nine months ended March 31, 2023: Number of Shares per Tranche Grant Date Fair Value (per Share) Stock Price Hurdle (per Share) Performance Period Requisite Service Period Tranche 1 1,055,674 $ 1.52 $ 4.00 August 1, 2022 - August 1, 2027 1.39 years - 3 years Tranche 2 1,055,648 $ 1.25 $ 7.50 August 1, 2022 - August 1, 2027 2.33 years - 3 years Tranche 3 1,055,674 $ 1.11 $ 10.00 August 1, 2022 - August 1, 2027 2.66 years - 3 years Tranche 4 1,055,648 $ 1.01 $ 12.50 August 1, 2022 - August 1, 2027 2.90 years - 3 years The fair value of each PVU (for purposes of calculation of share-based compensation expense) is estimated using a Monte Carlo simulation valuation model that uses assumptions determined as of the date of the grant. Use of this model requires the input of subjective assumptions and changes in the subjective assumptions can materially affect the estimate of the fair value of share-based compensation recognized in the consolidated statements of comprehensive loss. These assumptions include estimating the volatility of the Company's common stock price over the expected term, the risk-free interest rate that reflects the interest rate at grant date on zero-coupon United States governmental bonds that have a remaining life similar to the expected term risk-free interest rate, the cost of equity, and the dividend yield assumption which is based on the Company's dividend payment history and management's expectations of future dividend payments. The Company used the following weighted-average assumptions for the PVU’s granted as of the date below: Shares Granted February 1, 2024 Shares Granted August 1, 2023 Shares Granted August 1, 2022 Share price as of grant date $1.11 $1.38 $1.80 Volatility 90.8% 94.3% 79.3% Risk-free interest rate 3.7% 4.1% 2.6% Cost of Equity 11.6% 9.2% 10.6% Dividend yield —% —% —% The following table summarizes price-vested stock unit activity under the 2020 Stock Plan for the nine months ended March 31, 2024: Number of Price-Vested Units Weighted-Average Grant Date Fair Value Unvested as of June 30, 2023 4,044,180 $ 1.22 Granted 2,270,530 1.62 Vested — — Forfeited (70,802) 1.36 Unvested as of March 31, 2024 6,243,908 $ 1.37 As of March 31, 2024, there was $4.1 million of unrecognized compensation cost related to unvested PVU’s granted, which is expected to be recognized over a weighted-average period of 1.45 years. ESPP — The purpose of the Company’s employee stock purchase plan (“ESPP”) is to provide the Company's eligible employees with an opportunity to purchase shares on the exercise date at a price equal to 85% of the fair market value of the Company’s common stock as of either the exercise date or the first day of the relevant offering period, whichever is lesser. The ESPP was suspended effective April 1, 2023, and as of March 31, 2024, there are 159 shares reserved for future issuance under the plan. During the nine months ended March 31, 2023, the Company issued 876,933 shares to its employees and recorded share-based compensation expense related to the ESPP of less than $0.1 million for the three months ended March 31, 2023 and $0.1 million for the nine months ended March 31, 2023. The Company received cash of less than $0.1 million in connection with ESPP purchases during the three months ended March 31, 2023, and $0.6 million in connection with ESPP purchases during the nine months ended March 31, 2023.

Revenues from Contracts with Cu

Revenues from Contracts with Customers	9 Months Ended
Revenues from Contracts with Customers	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenues from Contracts with Customers	REVENUES FROM CONTRACTS WITH CUSTOMERS Disaggregation of Revenue from Contracts with Customers —The disaggregation of revenue by segment and product is depicted for the periods presented below, and is consistent with how the Company evaluates its financial performance: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2024 2023 2024 2023 Senior: Commission revenue: Medicare advantage $ 184,740 $ 156,014 $ 477,081 $ 412,850 Medicare supplement 1,027 417 2,965 1,588 Prescription drug plan 324 203 697 481 Dental, vision, and health 845 1,185 2,599 3,203 Other commission revenue 588 726 1,361 2,162 Total commission revenue 187,524 158,545 484,703 420,284 Total other revenue 16,735 26,655 57,002 66,257 Total Senior revenue 204,259 185,200 541,705 486,541 Healthcare Services: Total pharmacy revenue 120,282 66,948 323,865 159,641 Total other revenue 3,925 3,777 9,419 9,629 Total Healthcare Services revenue 124,207 70,725 333,284 169,270 Life: Commission revenue: Term 17,789 17,678 55,016 49,371 Final expense 17,537 13,804 46,139 44,357 Total commission revenue 35,326 31,482 101,155 93,728 Total other revenue 5,360 5,468 14,700 14,052 Total Life revenue 40,686 36,950 115,855 107,780 Auto & Home: Total commission revenue 8,746 7,895 27,836 21,940 Total other revenue 388 343 813 1,188 Total Auto & Home revenue 9,134 8,238 28,649 23,128 Eliminations: Total commission revenue (833) (664) (1,950) (2,325) Total other revenue (1,053) (1,051) (2,976) (3,324) Total Elimination revenue (1,886) (1,715) (4,926) (5,649) Total commission revenue 230,763 197,258 611,744 533,627 Total pharmacy revenue 120,282 66,948 323,865 159,641 Total other revenue 25,355 35,192 78,958 87,802 Total revenue $ 376,400 $ 299,398 $ 1,014,567 $ 781,070 Contract Balances —The Company has contract assets related to commissions receivable from its insurance carrier partners, with the movement over time as the policy is renewed between long-term and short-term commissions receivable and accounts receivable, net being the main activity, along with commission revenue adjustments from changes in estimates. A roll forward of commissions receivable (current and long-term) is shown below for the period presented: (in thousands) Balance as of June 30, 2023 $ 840,498 Commission revenue from revenue recognized 218,136 Net commission revenue adjustment from change in estimate 1,667 Amounts recognized as accounts receivable, net (227,178) Balance as of March 31, 2024 $ 833,123 For the nine months ended March 31, 2024, the $1.7 million net commission revenue adjustment from change in estimate includes adjustments related to revenue recognized in prior fiscal years, based on the Company’s reassessment of each of its cohorts’ transaction prices. It includes a negative adjustment of $1.8 million for Senior, a positive adjustment of $3.4 million for Auto & Home, and a positive adjustment of $0.1 million for Life. The Company’s contract liabilities on the condensed consolidated balance sheets represent unamortized upfront payments received as of March 31, 2024, for commission revenue for which the performance obligations have not yet been met and are anticipated to be recognized over the next twelve months. A roll forward of contract liabilities (current and long-term) is shown below for the period presented: (in thousands) Balance as of June 30, 2023 $ 1,691 Commission revenue recognized (27,241) Other revenue recognized (515) Amounts recognized as contract liabilities 29,720 Balance as of March 31, 2024 $ 3,655

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES For the three months ended March 31, 2024 and 2023, the Company recognized income tax expense of $0.2 million and $3.2 million, respectively, representing effective tax rates of 1.9% and 25.4%, respectively. The differences from the federal statutory tax rate to the effective tax rates for the three months ended March 31, 2024, were primarily related to state income taxes and the recording of a valuation allowance for federal tax attributes that the Company does not expect to utilize prior to expiration. The differences from our federal statutory tax rate to the effective tax rate for the three months ended March 31, 2023, were primarily related to state income taxes, RSU vestings, and the recording of a valuation allowance for state tax attributes that the Company does not expect to utilize prior to expiration. For the nine months ended March 31, 2024 and 2023, the Company recognized income tax benefits of $1.1 million and $1.1 million, respectively, representing effective tax rates of 26.9% and 8.9%, respectively. The differences from the federal statutory tax rate to the effective tax rate for the nine months ended March 31, 2024, were primarily related to state income taxes and the recording of a valuation allowance for federal tax attributes that the Company does not expect to utilize prior to expiration. The differences from the federal statutory tax rate to the effective tax rate for the nine months ended March 31, 2023, were primarily related to state income taxes, RSU vestings, and the recording of a valuation allowance for state tax attributes that the Company does not expect to utilize prior to expiration. As of March 31, 2024, the Company has a valuation allowance of $3.6 million for deferred tax assets related to certain federal and state specific net operating losses and credits, as it is more likely than not that those assets will not be realized. As the Company is currently in a three-year cumulative loss position, it cannot consider the projections of future income as part of the valuation allowance analysis and have considered the other sources of future taxable income described under ASC 740 when evaluating the need for a valuation allowance. After evaluating these sources of taxable income, and considering the jurisdiction and character of the deferred tax assets, the Company continues to recognize its deferred tax assets as of March 31, 2024, as it believes it is more likely than not that the net deferred tax assets will be realized, outside of the deferred tax asset related to certain federal and state credits noted above where a valuation allowance has been established.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	9 Months Ended
Net Income (Loss) Per Share	Mar. 31, 2024
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	NET INCOME (LOSS) PER SHARE The Company calculates net loss per share as defined by ASC 260, Earnings per Share (“ASC 260”). Basic net loss per share (“Basic EPS”) is computed by dividing net loss attributable to common shareholders by the weighted-average common stock outstanding during the respective period. Diluted net loss per share (“Diluted EPS”) is computed by dividing net loss attributable to common and common equivalent shareholders by the total of the weighted-average common stock outstanding and common equivalent shares outstanding during the respective period. For the purpose of calculating the Company’s Diluted EPS, common equivalent shares outstanding include common shares issuable upon the exercise of outstanding employee stock options, unvested RSU's, PSU’s assuming the performance conditions are satisfied as of the end of the reporting period, PVU’s assuming market conditions are satisfied as of the end of the reporting period, and common shares issuable upon the conclusion of each ESPP offering period. The number of common equivalent shares outstanding has been determined in accordance with the treasury stock method for employee stock options, RSU's, PSU’s, PVU’s, and common stock issuable pursuant to the ESPP to the extent they are dilutive. Under the treasury stock method, the exercise price paid by the option holder and future share-based compensation expense that the Company has not yet recognized are assumed to be used to repurchase shares. The following table sets forth the computation of net income (loss) per share for the periods presented: Three Months Ended March 31, Nine Months Ended March 31, (in thousands, except per share amounts) 2024 2023 2024 2023 Basic: Numerator: Net income (loss) attributable to common shareholders $ 8,551 $ 9,264 $ (3,108) $ (10,706) Denominator: Weighted-average common stock outstanding 169,070 166,543 168,291 165,951 Net income (loss) per share—basic: $ 0.05 $ 0.06 $ (0.02) $ (0.06) Diluted: Numerator: Net income (loss) attributable to common and common equivalent shareholders $ 8,551 $ 9,264 $ (3,108) $ (10,706) Denominator: Weighted-average common stock outstanding 169,070 166,543 168,291 165,951 Stock options outstanding to purchase shares of common stock including unvested RSU's and from the ESPP (1) 1,886 1,362 — — Total common and common equivalent shares outstanding 170,956 167,905 168,291 165,951 Net income (loss) per share—diluted: $ 0.05 $ 0.06 $ (0.02) $ (0.06) (1) Excluded from the computation of net income (loss) per share-diluted for the nine months ended March 31, 2024 and 2023, because the effect would have been anti-dilutive. The weighted average potential shares of common stock that were excluded from the calculation of net income (loss) per share-diluted because including them would have been anti-dilutive are as follows for the periods presented: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2024 2023 2024 2023 Stock options outstanding to purchase shares of common stock including unvested RSU's and from the ESPP 6,483 4,181 12,145 8,338 The weighted average potential shares of common stock that were excluded from the calculation of net income (loss) per share-diluted because the performance or market conditions associated with these awards were not met are as follows for the periods presented: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2024 2023 2024 2023 Shares subject to outstanding PVU’s 6,244 4,100 6,268 4,158 Shares subject to outstanding PSU's — 10 — 7 Total 6,244 4,110 6,268 4,165

Segment Information

Segment Information	9 Months Ended
Segment Information	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION The Company’s operating and reportable segments have been determined in accordance with ASC 280, Segment Reporting (“ASC 280”). The Company has four reportable segments: i) Senior, ii) Healthcare Services, iii) Life, and iv) Auto & Home. The Company includes non-operating activity, share-based compensation expense, certain intersegment eliminations, and the costs of providing corporate and other administrative services in its administrative division in Corporate & Eliminations. These services and activities are not directly identifiable with the Company’s reportable segments and are shown in the tables below to reconcile the reportable segments to the condensed consolidated financial statements. The Company has not aggregated any operating segments into a reportable segment. The Company reports segment information based on how its chief operating decision maker ("CODM") regularly reviews its operating results, allocates resources, and makes decisions regarding business operations. The performance measures of the segments include total revenue and Adjusted EBITDA because management believes that such information is the most relevant in evaluating the results of the respective segments relative to other entities that operate in the same industries. Costs of revenue, cost of goods sold-pharmacy revenue, marketing and advertising, selling, general, and administrative, and technical development operating expenses that are directly attributable to a segment are reported within the applicable segment. Indirect costs of revenue, marketing and advertising, selling, general, and administrative, and technical development operating expenses are allocated to each segment based on varying metrics such as headcount. Adjusted EBITDA is calculated as total revenue for the applicable segment less direct and allocated costs of revenue, cost of goods sold, marketing and advertising, technical development, and selling, general, and administrative operating costs and expenses, excluding depreciation and amortization expense; gain or loss on disposal of property, equipment, and software; share-based compensation expense; and non-recurring expenses such as severance payments and transaction costs. Our CODM does not separately evaluate assets by segment, with the exception of commissions receivable; therefore, assets by segment are not presented. The following table presents information about the reportable segments for the three months ended March 31, 2024: (in thousands) Senior Healthcare Services Life Auto & Home Corp & Elims Consolidated Revenue $ 204,259 $ 124,207 $ 40,686 $ 9,134 $ (1,886) (1) $ 376,400 Operating expenses (142,765) (122,598) (37,548) (5,524) (21,355) (2) (329,790) Other income (expense), net — — — (1) (11) (12) Adjusted EBITDA $ 61,494 $ 1,609 $ 3,138 $ 3,609 $ (23,252) 46,598 Share-based compensation expense (3,515) Transaction costs (3) (3,325) Depreciation and amortization (6,704) Loss on disposal of property, equipment, and software (4) Interest expense, net (24,330) Income tax expense (169) Net income $ 8,551 (1) Revenue in the Corp & Elims division represents intercompany revenue eliminated between segments, including for lead generation referrals from InsideResponse (within Senior) and referrals between the other segments. (2) Operating expenses in the Corp & Elims division primarily include $16.2 million in salaries and benefits for certain general, administrative, and IT related departments and $3.9 million in professional services fees. (3) These expenses primarily consist of financing transaction costs and non-restructuring severance expenses. The following table presents information about the reportable segments for the three months ended March 31, 2023: (in thousands) Senior Healthcare Services Life Auto & Home Corp & Elims Consolidated Revenue $ 185,200 $ 70,725 $ 36,950 $ 8,238 $ (1,715) (1) $ 299,398 Operating expenses (126,034) (74,091) (31,446) (5,648) (17,947) (2) (255,166) Other income (expense), net — — (201) 1 (6) (206) Adjusted EBITDA $ 59,166 $ (3,366) $ 5,303 $ 2,591 $ (19,668) 44,026 Share-based compensation expense (2,959) Transaction costs (3) (433) Depreciation and amortization (7,098) Loss on disposal of property, equipment, and software (15) Interest expense, net (21,105) Income tax expense (3,152) Net income $ 9,264 (1) Revenue in the Corp & Elims division represents intercompany revenue eliminated between segments, including for lead generation referrals from InsideResponse (within Senior) and referrals between the other segments. (2) Operating expenses in the Corp & Elims division primarily include $12.6 million in salaries and benefits for certain general, administrative, and IT related departments and $4.6 million in professional services fees. (3) These expenses consist of costs related to the Senior Secured Credit Facility and non-restructuring severance expenses. The following table presents information about the reportable segments for the nine months ended March 31, 2024: (in thousands) Senior Healthcare Services Life Auto & Home Corp & Elims Consolidated Revenue $ 541,705 $ 333,284 $ 115,855 $ 28,649 $ (4,926) (1) $ 1,014,567 Operating expenses (402,834) (326,373) (102,910) (16,994) (62,770) (2) (911,881) Other income (expense), net — — — (1) (50) (51) Adjusted EBITDA $ 138,871 $ 6,911 $ 12,945 $ 11,654 $ (67,746) 102,635 Share-based compensation expense (10,512) Transaction costs (3) (7,629) Depreciation and amortization (18,591) Loss on disposal of property, equipment, and software (13) Interest expense, net (70,141) Income tax benefit 1,143 Net loss $ (3,108) (1) Revenue in the Corp & Elims division represents intercompany revenue eliminated between segments primarily for lead generation referrals from InsideResponse (within Senior) to the other segments. (2) Operating expenses in the Corp & Elims division primarily include $46.7 million in salaries and benefits for certain general, administrative, and IT related departments and $12.0 million in professional services fees. (3) These expenses primarily consist of financing transaction costs and non-restructuring severance expenses. The following table presents information about the reportable segments for the nine months ended March 31, 2023: (in thousands) Senior Healthcare Services Life Auto & Home Corp & Elims Consolidated Revenue $ 486,541 $ 169,270 $ 107,780 $ 23,128 $ (5,649) (1) $ 781,070 Operating expenses (347,608) (193,726) (91,409) (15,812) (52,270) (2) (700,825) Other income (expense), net — — — (1) (117) (118) Adjusted EBITDA $ 138,933 $ (24,456) $ 16,371 $ 7,315 $ (58,036) 80,127 Share-based compensation expense (8,525) Transaction costs (3) (3,003) Depreciation and amortization (21,087) Loss on disposal of property, equipment, and software (386) Interest expense, net (58,885) Income tax benefit 1,053 Net loss $ (10,706) (1) Revenue in the Corp & Elims division represents intercompany revenue eliminated between segments primarily for lead generation referrals from InsideResponse (within Senior) to the other segments. (2) Operating expenses in the Corp & Elims division primarily include $36.8 million in salaries and benefits for certain general, administrative, and IT related departments and $13.8 million in professional services fees. (3)These expenses primarily consist of costs related to the Fourth Amendment to the Senior Secured Credit Facility and non-restructuring severance expenses. Revenues from each of the reportable segments are earned from transactions in the United States and follow the same accounting policies used for the Company’s condensed consolidated financial statements. All of the Company’s long-lived assets are located in the United States. For the three months ended March 31, 2024, three customers accounted for 27% (UHC), 20% (Aetna), and 18% (Humana) of total revenue. For the three months ended March 31, 2023, three customers accounted for 31% (UHC), 24% (Humana), and 8% (Wellcare) of total revenue. For the nine months ended March 31, 2024, three customers accounted for 30% (UHC), 18% (Humana), and 15% (Aetna) of total revenue. For the nine months ended March 31, 2023, three customers accounted for 31% (UHC), 21% (Humana), and 10% (Wellcare) of total revenue. For all periods presented, the revenue was provided by both the Senior and Healthcare Services segments.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net loss	$ 8,551	$ 9,264	$ (3,108)	$ (10,706)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Business and Signi_2

Summary of Business and Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Description of Business	Description of Business —SelectQuote, Inc. (together with its subsidiaries, the “Company” or “SelectQuote”) is a leading technology-enabled, direct-to-consumer distribution platform for insurance products and healthcare services. We contract with insurance carriers to sell senior health, life, and auto and home insurance policies by telephone to individuals throughout the United States through the use of multi-channel marketing and advertising campaigns. SelectQuote’s Senior division (“Senior”) sells Medicare Advantage, Medicare Supplement, Medicare Part D, and other ancillary senior health insurance related products. SelectQuote’s Life division (“Life”) sells term life, final expense, and other ancillary products, and SelectQuote’s Auto & Home division (“Auto & Home”) primarily sells non-commercial auto and home, property and casualty insurance products. The Healthcare Services division (“Healthcare Services”) includes SelectRx and Population Health. SelectRx is a Patient-Centered Pharmacy Home™ (“PCPH”) accredited pharmacy, which offers essential prescription medications, OTC medications, customized medication packaging, and medication therapy management, providing long-term pharmacy care that enables patients to optimize medication adherence to drive positive health outcomes while enabling patients to remain at home. Population Health helps members understand the benefits available under their health plans, contracts with insurance carriers to complete health-risk assessments (“HRA”) on members, partners with value-based care (“VBC”) providers for a variety of healthcare-related services, and introduces members to the pharmacy services offered through SelectRx.
Basis of Presentation	Basis of Presentation
Use of Estimates	Use of Estimates —The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of revenues, expenses, assets, and liabilities and disclosure of contingent assets and liabilities. The Company regularly assesses these estimates; however, actual amounts could differ from those estimates. The most significant items involving management’s estimates include estimates of revenue recognition, accounts receivable, net, commissions receivable, the provision for income taxes, share-based compensation, and valuation of intangible assets and goodwill. The impact of changes in estimates is recorded in the period in which they become known.
Seasonality	Seasonality —Medicare-eligible individuals are permitted to change their Medicare Advantage and Medicare Part D prescription drug coverage for the following year during the Medicare annual enrollment period (“AEP”) in October through December and are allowed to switch plans from an existing plan during the open enrollment period (“OEP”) in January through March each year. As a result, the Company’s Senior segment’s commission revenue is highest in the second quarter and to a lesser extent, the third quarter during OEP.
Recent Accounting Pronouncements Adopted	Recent Accounting Pronouncements Adopted —The Company did not adopt any new accounting pronouncements during the nine months ended March 31, 2024.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
Acquisitions (Tables)	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Fair Value Hierarchy	Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities Level 2 Unadjusted quoted prices in active markets for similar assets or liabilities; or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs other than quoted prices that are observable for the asset or liability. Level 3 Significant unobservable inputs for the asset or liability

Property And Equipment_Net (Tab

Property And Equipment—Net (Tables)	9 Months Ended
Property And Equipment—Net (Tables)	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and equipment—net consisted of the following: (in thousands) March 31, 2024 June 30, 2023 Computer hardware $ 20,012 $ 20,970 Machinery and equipment (1) 15,700 14,825 Leasehold improvements 19,033 20,422 Furniture and fixtures 4,669 4,591 Work in progress 3,310 338 Total 62,724 61,146 Less accumulated depreciation (40,188) (33,694) Property and equipment—net $ 22,536 $ 27,452 (1) Includes financing lease right-of-use assets.

Software_Net (Tables)

Software—Net (Tables)	9 Months Ended
Software—Net (Tables)	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Capitalized Software	Software—net consisted of the following: (in thousands) March 31, 2024 June 30, 2023 Software $ 38,601 $ 35,945 Work in progress 95 143 Total 38,696 36,088 Less accumulated amortization (24,744) (21,348) Software—net $ 13,952 $ 14,740

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	9 Months Ended
Intangible Assets and Goodwill (Tables)	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Indefinite-Lived Intangible Assets	The carrying amounts, accumulated amortization, and net carrying value of our definite-lived intangible assets are presented in the table below (dollars in thousands): March 31, 2024 June 30, 2023 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Impairment Charges (1) Accumulated Amortization Net Carrying Amount Customer relationships $ 17,492 $ (10,356) $ 7,136 $ 17,492 $ — $ (8,617) $ 8,875 Trade name 2,680 (2,100) 580 2,680 — (1,697) 983 Proprietary software 1,042 (875) 167 1,042 — (758) 284 Non-compete agreements 100 (57) 43 1,292 (533) (701) 58 Vendor relationships — — — 20,400 (15,111) (5,289) — Total intangible assets $ 21,314 $ (13,388) $ 7,926 $ 42,906 $ (15,644) $ (17,062) $ 10,200 (1) During the year ended June 30, 2023, the Company recorded impairment charges for its long-lived intangible assets recognized as part of the acquisition of a lead distribution company. Refer to the consolidated financial statements in our Annual Report on Form 10-K for additional details.
Schedule of Future Amortization Expense	As of March 31, 2024, expected amortization expense in future fiscal periods were as follows (in thousands): Trade Name Proprietary Software Non-Compete Agreements Customer relationships Total Remainder fiscal 2024 $ 133 $ 39 $ 5 $ 580 $ 757 2025 447 128 20 2,316 2,911 2026 — — 18 2,313 2,331 2027 — — — 1,927 1,927 Total $ 580 $ 167 $ 43 $ 7,136 $ 7,926

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Mar. 31, 2024
Leases [Abstract]
Schedule of Lease Costs and Supplemental Information	The components of lease costs were as follows for the periods presented: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2024 2023 2024 2023 Finance lease costs (1) $ 41 $ 43 $ 125 $ 129 Operating lease costs (2) 1,271 1,953 4,371 5,998 Short-term lease costs 61 74 183 137 Variable lease costs (3) 203 (6) 498 404 Sublease income (574) (671) (1,721) (1,756) Total net lease costs $ 1,002 $ 1,393 $ 3,456 $ 4,912 (1) Primarily consists of amortization of finance lease right-of-use assets and an immaterial amount of interest on finance lease liabilities recorded in operating costs and expenses and interest expense, net in the condensed consolidated statements of comprehensive income (loss). (2) Recorded in operating costs and expenses in the condensed consolidated statements of comprehensive income (loss). (3) Variable lease costs are not included in the measurement of the lease liability or right-of-use asset as they are not based on an index or rate and primarily represents common area maintenance charges and real estate taxes recorded in operating costs and expenses in the condensed consolidated statements of comprehensive income (loss).
Schedule of Maturity of Operating Lease Liabilities	Maturities of Lease Liabilities —As of March 31, 2024, remaining maturities of lease liabilities for each of the next five fiscal years and thereafter are as follows: (in thousands) Operating leases Finance leases Total Remainder fiscal 2024 $ 1,915 $ 42 $ 1,957 2025 7,257 140 7,397 2026 6,708 38 6,746 2027 5,389 32 5,421 2028 4,832 — 4,832 Thereafter 11,025 — 11,025 Total undiscounted lease payments 37,126 252 37,378 Less: interest 10,137 19 10,156 Present value of lease liabilities $ 26,989 $ 233 $ 27,222
Schedule of Maturity of Finance Lease Liabilities	Maturities of Lease Liabilities —As of March 31, 2024, remaining maturities of lease liabilities for each of the next five fiscal years and thereafter are as follows: (in thousands) Operating leases Finance leases Total Remainder fiscal 2024 $ 1,915 $ 42 $ 1,957 2025 7,257 140 7,397 2026 6,708 38 6,746 2027 5,389 32 5,421 2028 4,832 — 4,832 Thereafter 11,025 — 11,025 Total undiscounted lease payments 37,126 252 37,378 Less: interest 10,137 19 10,156 Present value of lease liabilities $ 26,989 $ 233 $ 27,222
Sublease, Future Minimum Receipts, Fiscal Year Maturity	Sublease Income —As of March 31, 2024, the future minimum fixed sublease receipts under non-cancelable operating lease agreements are as follows: (in thousands) Total Remainder fiscal 2024 $ 632 2025 2,548 2026 2,587 2027 2,180 2028 1,931 Thereafter 2,092 Total sublease income $ 11,970

Debt (Tables)

Debt (Tables)	9 Months Ended
Debt (Tables)	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Debt consisted of the following: (in thousands) March 31, 2024 June 30, 2023 Term Loans (effective interest rate 14.8%) $ 691,420 $ 707,509 Unamortized debt issuance costs and debt discount (5,372) (9,001) Total debt 686,048 698,508 Less current portion of long-term debt: (37,717) (33,883) Long-term debt $ 648,331 $ 664,625

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
Shareholders' Equity (Tables)	Mar. 31, 2024
Equity [Abstract]
Schedule of Stock by Class	As of March 31, 2024, the Company has reserved the following authorized, but unissued, shares of common stock: Employee Stock Purchase Plan 159 Stock awards outstanding under 2020 Plan 18,457,999 Stock awards available for grant under 2020 Plan 2,849,703 Options outstanding under 2003 Plan 523,356 Total 21,831,217
Schedule of Share-Based Compensation Activity	Total share-based compensation for stock awards included in selling, general, and administrative expense in the condensed consolidated statements of comprehensive income (loss) was as follows for the periods presented: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2024 2023 2024 2023 Share-based compensation related to: Equity classified stock options $ 673 $ 799 $ 2,109 $ 2,495 Equity classified RSU's 1,992 1,563 5,850 4,490 Equity classified PSU's — 77 33 29 Equity classified PVU's 850 486 2,520 1,384 Total $ 3,515 $ 2,925 $ 10,512 $ 8,398
Schedule of Stock Options Roll Forward	The following table summarizes stock option activity under the Stock Plans for the nine months ended March 31, 2024: Number of Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (in Years) Aggregate Intrinsic Value (in Thousands) Outstanding—June 30, 2023 3,847,339 $ 11.56 Options granted — — Options exercised (16,000) 0.53 Options forfeited/expired/cancelled (64,358) 7.38 Outstanding—March 31, 2024 3,766,981 $ 11.68 6.70 $ 178 Vested and exercisable—March 31, 2024 2,505,019 $ 11.77 6.35 $ 178
Schedule of Restricted Stock Unit Activity	The following table summarizes restricted stock unit activity under the 2020 Stock Plan for the nine months ended March 31, 2024: Number of Restricted Stock Units Weighted-Average Grant Date Fair Value Unvested as of June 30, 2023 4,911,613 $ 2.57 Granted 6,578,688 1.49 Vested (2,468,847) 2.08 Forfeited (217,727) 2.12 Unvested as of March 31, 2024 8,803,727 $ 1.91
Schedule of Performance Stock Activity	The following table summarizes performance stock unit activity under the 2020 Stock Plan for the nine months ended March 31, 2024: Number of Performance Stock Units Weighted-Average Grant Date Fair Value Unvested as of June 30, 2023 13,365 $ 17.96 Granted — — Vested (14,477) 17.95 Forfeited — — Performance adjustment (1) 1,112 — Unvested as of March 31, 2024 — $ — (1) Represents adjustments to previously granted PSU’s to reflect changes in estimates of future financial performance against targets.
Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award	The following table summarizes the number of shares, stock price hurdles, service periods, and performance periods for each tranche, for the PVU’s awarded during the nine months ended March 31, 2024: Number of Shares per Tranche Grant Date Fair Value (per Share) Stock Price Hurdle (per Share) Performance Period Requisite Service Period Tranche 1 559,202 $ 1.85 $ 2.50 August 1, 2023 - August 1, 2028 1 year - 3 years Tranche 2 559,175 $ 1.69 $ 5.00 August 1, 2023 - August 1, 2028 1.41 years - 3 years Tranche 3 559,213 $ 1.55 $ 7.50 August 1, 2023 - August 1, 2028 1.96 years - 3 years Tranche 4 559,185 $ 1.45 $ 10.00 August 1, 2023 - August 1, 2028 2.27 years - 3 years Tranche 5 8,439 $ 0.98 $ 2.50 February 1, 2024 - February 1, 2029 1.29 years - 3 years Tranche 6 8,437 $ 0.84 $ 5.00 February 1, 2024 - February 1, 2029 2.20 years - 3 years Tranche 7 8,441 $ 0.75 $ 7.50 February 1, 2024 - February 1, 2029 2.64 years - 3 years Tranche 8 8,438 $ 0.67 $ 10.00 February 1, 2024 - February 1, 2029 2.90 years - 3 years The following table summarizes the number of shares, stock price hurdles, service periods, and performance periods for each tranche, for the PVU’s awarded during the nine months ended March 31, 2023: Number of Shares per Tranche Grant Date Fair Value (per Share) Stock Price Hurdle (per Share) Performance Period Requisite Service Period Tranche 1 1,055,674 $ 1.52 $ 4.00 August 1, 2022 - August 1, 2027 1.39 years - 3 years Tranche 2 1,055,648 $ 1.25 $ 7.50 August 1, 2022 - August 1, 2027 2.33 years - 3 years Tranche 3 1,055,674 $ 1.11 $ 10.00 August 1, 2022 - August 1, 2027 2.66 years - 3 years Tranche 4 1,055,648 $ 1.01 $ 12.50 August 1, 2022 - August 1, 2027 2.90 years - 3 years
Schedule of Stock Options, Valuation Assumptions	The Company used the following weighted-average assumptions for the PVU’s granted as of the date below: Shares Granted February 1, 2024 Shares Granted August 1, 2023 Shares Granted August 1, 2022 Share price as of grant date $1.11 $1.38 $1.80 Volatility 90.8% 94.3% 79.3% Risk-free interest rate 3.7% 4.1% 2.6% Cost of Equity 11.6% 9.2% 10.6% Dividend yield —% —% —%
Schedule of Nonvested Share Activity	The following table summarizes price-vested stock unit activity under the 2020 Stock Plan for the nine months ended March 31, 2024: Number of Price-Vested Units Weighted-Average Grant Date Fair Value Unvested as of June 30, 2023 4,044,180 $ 1.22 Granted 2,270,530 1.62 Vested — — Forfeited (70,802) 1.36 Unvested as of March 31, 2024 6,243,908 $ 1.37

Revenue from Contracts with Cus

Revenue from Contracts with Customers (Tables)	9 Months Ended
Revenue from Contracts with Customers (Tables)	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The disaggregation of revenue by segment and product is depicted for the periods presented below, and is consistent with how the Company evaluates its financial performance: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2024 2023 2024 2023 Senior: Commission revenue: Medicare advantage $ 184,740 $ 156,014 $ 477,081 $ 412,850 Medicare supplement 1,027 417 2,965 1,588 Prescription drug plan 324 203 697 481 Dental, vision, and health 845 1,185 2,599 3,203 Other commission revenue 588 726 1,361 2,162 Total commission revenue 187,524 158,545 484,703 420,284 Total other revenue 16,735 26,655 57,002 66,257 Total Senior revenue 204,259 185,200 541,705 486,541 Healthcare Services: Total pharmacy revenue 120,282 66,948 323,865 159,641 Total other revenue 3,925 3,777 9,419 9,629 Total Healthcare Services revenue 124,207 70,725 333,284 169,270 Life: Commission revenue: Term 17,789 17,678 55,016 49,371 Final expense 17,537 13,804 46,139 44,357 Total commission revenue 35,326 31,482 101,155 93,728 Total other revenue 5,360 5,468 14,700 14,052 Total Life revenue 40,686 36,950 115,855 107,780 Auto & Home: Total commission revenue 8,746 7,895 27,836 21,940 Total other revenue 388 343 813 1,188 Total Auto & Home revenue 9,134 8,238 28,649 23,128 Eliminations: Total commission revenue (833) (664) (1,950) (2,325) Total other revenue (1,053) (1,051) (2,976) (3,324) Total Elimination revenue (1,886) (1,715) (4,926) (5,649) Total commission revenue 230,763 197,258 611,744 533,627 Total pharmacy revenue 120,282 66,948 323,865 159,641 Total other revenue 25,355 35,192 78,958 87,802 Total revenue $ 376,400 $ 299,398 $ 1,014,567 $ 781,070
Schedule of Activity in Commissions Receivable	A roll forward of commissions receivable (current and long-term) is shown below for the period presented: (in thousands) Balance as of June 30, 2023 $ 840,498 Commission revenue from revenue recognized 218,136 Net commission revenue adjustment from change in estimate 1,667 Amounts recognized as accounts receivable, net (227,178) Balance as of March 31, 2024 $ 833,123
Contract with Customer, Contract Asset, Contract Liability, and Receivable	A roll forward of contract liabilities (current and long-term) is shown below for the period presented: (in thousands) Balance as of June 30, 2023 $ 1,691 Commission revenue recognized (27,241) Other revenue recognized (515) Amounts recognized as contract liabilities 29,720 Balance as of March 31, 2024 $ 3,655

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	9 Months Ended
Net Income (Loss) Per Share (Tables)	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Income (Loss) Per Share, Basic and Diluted	The following table sets forth the computation of net income (loss) per share for the periods presented: Three Months Ended March 31, Nine Months Ended March 31, (in thousands, except per share amounts) 2024 2023 2024 2023 Basic: Numerator: Net income (loss) attributable to common shareholders $ 8,551 $ 9,264 $ (3,108) $ (10,706) Denominator: Weighted-average common stock outstanding 169,070 166,543 168,291 165,951 Net income (loss) per share—basic: $ 0.05 $ 0.06 $ (0.02) $ (0.06) Diluted: Numerator: Net income (loss) attributable to common and common equivalent shareholders $ 8,551 $ 9,264 $ (3,108) $ (10,706) Denominator: Weighted-average common stock outstanding 169,070 166,543 168,291 165,951 Stock options outstanding to purchase shares of common stock including unvested RSU's and from the ESPP (1) 1,886 1,362 — — Total common and common equivalent shares outstanding 170,956 167,905 168,291 165,951 Net income (loss) per share—diluted: $ 0.05 $ 0.06 $ (0.02) $ (0.06) (1) Excluded from the computation of net income (loss) per share-diluted for the nine months ended March 31, 2024 and 2023, because the effect would have been anti-dilutive.
Schedule of Antidilutive Securities Excluded from Computation of Income (Loss) Per Share	The weighted average potential shares of common stock that were excluded from the calculation of net income (loss) per share-diluted because including them would have been anti-dilutive are as follows for the periods presented: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2024 2023 2024 2023 Stock options outstanding to purchase shares of common stock including unvested RSU's and from the ESPP 6,483 4,181 12,145 8,338 The weighted average potential shares of common stock that were excluded from the calculation of net income (loss) per share-diluted because the performance or market conditions associated with these awards were not met are as follows for the periods presented: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2024 2023 2024 2023 Shares subject to outstanding PVU’s 6,244 4,100 6,268 4,158 Shares subject to outstanding PSU's — 10 — 7 Total 6,244 4,110 6,268 4,165

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
Segment Information (Tables)	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table presents information about the reportable segments for the three months ended March 31, 2024: (in thousands) Senior Healthcare Services Life Auto & Home Corp & Elims Consolidated Revenue $ 204,259 $ 124,207 $ 40,686 $ 9,134 $ (1,886) (1) $ 376,400 Operating expenses (142,765) (122,598) (37,548) (5,524) (21,355) (2) (329,790) Other income (expense), net — — — (1) (11) (12) Adjusted EBITDA $ 61,494 $ 1,609 $ 3,138 $ 3,609 $ (23,252) 46,598 Share-based compensation expense (3,515) Transaction costs (3) (3,325) Depreciation and amortization (6,704) Loss on disposal of property, equipment, and software (4) Interest expense, net (24,330) Income tax expense (169) Net income $ 8,551 (1) Revenue in the Corp & Elims division represents intercompany revenue eliminated between segments, including for lead generation referrals from InsideResponse (within Senior) and referrals between the other segments. (2) Operating expenses in the Corp & Elims division primarily include $16.2 million in salaries and benefits for certain general, administrative, and IT related departments and $3.9 million in professional services fees. (3) These expenses primarily consist of financing transaction costs and non-restructuring severance expenses. The following table presents information about the reportable segments for the three months ended March 31, 2023: (in thousands) Senior Healthcare Services Life Auto & Home Corp & Elims Consolidated Revenue $ 185,200 $ 70,725 $ 36,950 $ 8,238 $ (1,715) (1) $ 299,398 Operating expenses (126,034) (74,091) (31,446) (5,648) (17,947) (2) (255,166) Other income (expense), net — — (201) 1 (6) (206) Adjusted EBITDA $ 59,166 $ (3,366) $ 5,303 $ 2,591 $ (19,668) 44,026 Share-based compensation expense (2,959) Transaction costs (3) (433) Depreciation and amortization (7,098) Loss on disposal of property, equipment, and software (15) Interest expense, net (21,105) Income tax expense (3,152) Net income $ 9,264 (1) Revenue in the Corp & Elims division represents intercompany revenue eliminated between segments, including for lead generation referrals from InsideResponse (within Senior) and referrals between the other segments. (2) Operating expenses in the Corp & Elims division primarily include $12.6 million in salaries and benefits for certain general, administrative, and IT related departments and $4.6 million in professional services fees. (3) These expenses consist of costs related to the Senior Secured Credit Facility and non-restructuring severance expenses. The following table presents information about the reportable segments for the nine months ended March 31, 2024: (in thousands) Senior Healthcare Services Life Auto & Home Corp & Elims Consolidated Revenue $ 541,705 $ 333,284 $ 115,855 $ 28,649 $ (4,926) (1) $ 1,014,567 Operating expenses (402,834) (326,373) (102,910) (16,994) (62,770) (2) (911,881) Other income (expense), net — — — (1) (50) (51) Adjusted EBITDA $ 138,871 $ 6,911 $ 12,945 $ 11,654 $ (67,746) 102,635 Share-based compensation expense (10,512) Transaction costs (3) (7,629) Depreciation and amortization (18,591) Loss on disposal of property, equipment, and software (13) Interest expense, net (70,141) Income tax benefit 1,143 Net loss $ (3,108) (1) Revenue in the Corp & Elims division represents intercompany revenue eliminated between segments primarily for lead generation referrals from InsideResponse (within Senior) to the other segments. (2) Operating expenses in the Corp & Elims division primarily include $46.7 million in salaries and benefits for certain general, administrative, and IT related departments and $12.0 million in professional services fees. (3) These expenses primarily consist of financing transaction costs and non-restructuring severance expenses. The following table presents information about the reportable segments for the nine months ended March 31, 2023: (in thousands) Senior Healthcare Services Life Auto & Home Corp & Elims Consolidated Revenue $ 486,541 $ 169,270 $ 107,780 $ 23,128 $ (5,649) (1) $ 781,070 Operating expenses (347,608) (193,726) (91,409) (15,812) (52,270) (2) (700,825) Other income (expense), net — — — (1) (117) (118) Adjusted EBITDA $ 138,933 $ (24,456) $ 16,371 $ 7,315 $ (58,036) 80,127 Share-based compensation expense (8,525) Transaction costs (3) (3,003) Depreciation and amortization (21,087) Loss on disposal of property, equipment, and software (386) Interest expense, net (58,885) Income tax benefit 1,053 Net loss $ (10,706) (1) Revenue in the Corp & Elims division represents intercompany revenue eliminated between segments primarily for lead generation referrals from InsideResponse (within Senior) to the other segments. (2) Operating expenses in the Corp & Elims division primarily include $36.8 million in salaries and benefits for certain general, administrative, and IT related departments and $13.8 million in professional services fees. (3)These expenses primarily consist of costs related to the Fourth Amendment to the Senior Secured Credit Facility and non-restructuring severance expenses.

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Millions			9 Months Ended	12 Months Ended
Acquisitions - Narrative (Details) $ in Millions	Aug. 31, 2021 USD ($)	Apr. 30, 2021 USD ($) provision	Mar. 31, 2024 USD ($)	Jun. 30, 2023 USD ($)
Business Acquisition [Line Items]
Weighted average useful life (in years)			2 years 10 months 24 days	3 years 7 months 6 days
Express Med Pharmaceutical Inc
Business Acquisition [Line Items]
Percentage of voting interests acquired (in percent)		100%
Total purchase consideration		$ 24
Cash acquired from acquisition		17.5
Holdback for indemnification claims		2.5
Contingent consideration, liability		$ 4
Number of provisions \| provision		2
Contingent consideration payment for provision one				$ 3
Contingent consideration provision two				1
Remaining holdback for indemnification claims				$ 2.4
Express Med Pharmaceutical Inc \| Minimum
Business Acquisition [Line Items]
Weighted average useful life (in years)		1 year
Express Med Pharmaceutical Inc \| Maximum
Business Acquisition [Line Items]
Total purchase consideration		$ 24
Weighted average useful life (in years)		5 years
Express Med Pharmaceutical Inc \| Senior
Business Acquisition [Line Items]
Business acquisition, goodwill, expected tax deductible amount		$ 16.3
Simple Meds
Business Acquisition [Line Items]
Percentage of voting interests acquired (in percent)	100%
Payments to acquire businesses, gross	$ 7
Simple Meds \| Senior
Business Acquisition [Line Items]
Business acquisition, goodwill, expected tax deductible amount			$ 5.6

Property And Equipment_Net - Su

Property And Equipment—Net - Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Total	$ 62,724	$ 61,146
Less accumulated depreciation	(40,188)	(33,694)
Property and equipment—net	22,536	27,452
Computer hardware
Property, Plant and Equipment [Line Items]
Property and equipment, gross	20,012	20,970
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total	15,700	14,825
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	19,033	20,422
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	4,669	4,591
Work in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,310	$ 338

Property And Equipment_Net - Na

Property And Equipment—Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation	$ 3.3	$ 3.7	$ 9.4	$ 10.9

Software_Net - Summary (Details

Software—Net - Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Total	$ 38,696	$ 36,088
Less accumulated amortization	(24,744)	(21,348)
Software—net	13,952	14,740
Software
Finite-Lived Intangible Assets [Line Items]
Total	38,601	35,945
Work in progress
Finite-Lived Intangible Assets [Line Items]
Total	$ 95	$ 143

Software_Net - Narrative (Detai

Software—Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Software—Net - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Capitalized software costs in the period	$ 2.2	$ 1.8	$ 6.1	$ 5.7
Capitalized software amortization	$ (2.6)	$ (2)	$ (6.9)	$ (5.9)

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill - Carrying Amounts Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 21,314	$ 42,906
Accumulated Amortization	(13,388)	(17,062)
Net Carrying Amount	7,926	10,200
Impairment Charges		(15,644)
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	17,492	17,492
Accumulated Amortization	(10,356)	(8,617)
Net Carrying Amount	7,136	8,875
Impairment Charges		0
Trade name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,680	2,680
Accumulated Amortization	(2,100)	(1,697)
Net Carrying Amount	580	983
Impairment Charges		0
Proprietary software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,042	1,042
Accumulated Amortization	(875)	(758)
Net Carrying Amount	167	284
Impairment Charges		0
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	100	1,292
Accumulated Amortization	(57)	(701)
Net Carrying Amount	43	58
Impairment Charges		(533)
Vendor relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	0	20,400
Accumulated Amortization	0	(5,289)
Net Carrying Amount	$ 0	0
Impairment Charges		$ (15,111)

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023
Goodwill [Line Items]
Impairment of intangible assets excluding goodwill	$ 0	$ 0	$ 0	$ 0
Amortization of intangible assets	(800,000)	(1,400,000)	$ (2,300,000)	(4,200,000)
Weighted average useful life (in years)			2 years 10 months 24 days		3 years 7 months 6 days
Goodwill	29,136,000		$ 29,136,000		$ 29,136,000
Goodwill impairment	0	$ 0	0	$ 0
Healthcare Services:
Goodwill [Line Items]
Goodwill	$ 29,100,000		$ 29,100,000

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill - Schedule of Future Amortization (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Remainder fiscal 2024	$ 757
2025	2,911
2026	2,331
2027	1,927
Net Carrying Amount	7,926	$ 10,200
Trade name
Finite-Lived Intangible Assets [Line Items]
Remainder fiscal 2024	133
2025	447
2026	0
2027	0
Net Carrying Amount	580	983
Proprietary software
Finite-Lived Intangible Assets [Line Items]
Remainder fiscal 2024	39
2025	128
2026	0
2027	0
Net Carrying Amount	167	284
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Remainder fiscal 2024	5
2025	20
2026	18
2027	0
Net Carrying Amount	43	58
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Remainder fiscal 2024	580
2025	2,316
2026	2,313
2027	1,927
Net Carrying Amount	$ 7,136	$ 8,875

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands			9 Months Ended
Leases - Narrative (Details) - USD ($) $ in Thousands	Jun. 01, 2024	Jul. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Lessee, Lease, Description [Line Items]
Expected rental payments			$ 37,126
Minimum
Lessee, Lease, Description [Line Items]
Operating lease, term			1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, term			12 years
Monaca, Pennsylvania \| Affiliated Entity
Lessee, Lease, Description [Line Items]
Expected rental payments			$ 3,600
Operating lease, term			10 years
Option to extend			5 years
San Diego, California and Indianapolis, Indiana
Lessee, Lease, Description [Line Items]
Right-of-use assets obtained in exchange for new lease liabilities				$ 1,600
Overland Park, Kansas
Lessee, Lease, Description [Line Items]
Right-of-use assets obtained in exchange for new lease liabilities			$ 600
Loss on lease termination		$ 900
Overland Park, Kansas \| Forecast
Lessee, Lease, Description [Line Items]
Right-of-use assets obtained in exchange for new lease liabilities	$ 4,500

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Finance lease costs	$ 41	$ 43	$ 125	$ 129
Operating lease costs	1,271	1,953	4,371	5,998
Short-term lease costs	61	74	183	137
Variable lease costs	203	(6)	498	404
Sublease income	(574)	(671)	(1,721)	(1,756)
Total net lease costs	$ 1,002	$ 1,393	$ 3,456	$ 4,912

Leases - Maturity of Lease Liab

Leases - Maturity of Lease Liabilities (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Operating leases
Remainder fiscal 2024	$ 1,915
2025	7,257
2026	6,708
2027	5,389
2028	4,832
Thereafter	11,025
Total undiscounted lease payments	37,126
Less: interest	10,137
Present value of lease liabilities	26,989
Finance leases
Remainder fiscal 2024	42
2025	140
2026	38
2027	32
2028	0
Thereafter	0
Total undiscounted lease payments	252
Less: interest	19
Present value of lease liabilities	233
Total
Remainder fiscal 2024	1,957
2025	7,397
2026	6,746
2027	5,421
2028	4,832
Thereafter	11,025
Total undiscounted lease payments	37,378
Less: interest	10,156
Present value of lease liabilities	$ 27,222

Leases - Sublease Income, Fisca

Leases - Sublease Income, Fiscal Year Maturity (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Leases [Abstract]
Remainder fiscal 2024	$ 632
2025	2,548
2026	2,587
2027	2,180
2028	1,931
Thereafter	2,092
Total sublease income	$ 11,970

Debt - Credit Agreement and Sen

Debt - Credit Agreement and Senior Secured Credit Facility (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Debt Instrument [Line Items]
Unamortized debt issuance costs and debt discount	$ (5,372)	$ (9,001)
Total debt	686,048	698,508
Less current portion of long-term debt:	(37,717)	(33,883)
Long-term debt	648,331	664,625
Line of Credit \| Secured Debt
Debt Instrument [Line Items]
Term Loans (effective interest rate 14.8%)	$ 691,420	$ 707,509
Effective interest rate	14.80%	14.80%

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)

3 Months Ended

9 Months Ended

Aug. 26, 2022

Mar. 31, 2024

Mar. 31, 2023

Mar. 31, 2024

Mar. 31, 2023

Sep. 30, 2024

Jun. 30, 2024

May 09, 2024

Feb. 07, 2024

Aug. 25, 2022

Dec. 23, 2021

Nov. 02, 2021

Feb. 24, 2021

Nov. 05, 2019

Line of Credit Facility [Line Items]

Line of credit facility, maximum borrowing capacity

$ 75,000,000

Unamortized debt issuance costs

$ 40,900,000

Unamortized debt issuance costs

33,800,000

Amortization of debt issuance costs and debt discount

1,500,000

$ 2,300,000

4,863,000

$ 6,250,000

Cash flow hedge to be reclassified during next 12 months

8,100,000

Interest Rate Swap

Line of Credit Facility [Line Items]

Derivative, notional amount

325,000,000

Fair value of interest rate swap

$ 8,300,000

Base Rate | Interest Rate Swap

Line of Credit Facility [Line Items]

Derivative, basis spread on variable rate

0.931%

Extended Term Loans, Due February 15, 2025

Line of Credit Facility [Line Items]

Debt instrument, face amount

$ 692,000,000

Non-Extended Term Loans, Due November 5, 2024

Line of Credit Facility [Line Items]

Debt instrument, face amount

9,400,000

Line of Credit

Line of Credit Facility [Line Items]

Increase in variable rate payable in cash

0.50%

Increase in variable rate payable in kind

Line of Credit | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate

Line of Credit Facility [Line Items]

Variable rate payable in cash

Variable rate payable in kind

Line of Credit | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum

Line of Credit Facility [Line Items]

Debt instrument, interest rate

0.75%

Line of Credit | Base Rate

Line of Credit Facility [Line Items]

Variable rate payable in cash

Variable rate payable in kind

Line of Credit | Secured Debt | DDTL Facility

Line of Credit Facility [Line Items]

Line of credit facility, maximum borrowing capacity

$ 145,000,000

Increase to maximum borrowing capacity

200,000,000

Termination fee

$ 500,000

Line of Credit | Secured Debt | Term Loans

Line of Credit Facility [Line Items]

Line of credit facility, maximum borrowing capacity

$ 691,400,000

Secured Debt | Line of Credit

Line of Credit Facility [Line Items]

Line of credit facility, maximum borrowing capacity

425,000,000

$ 425,000,000

Increase to maximum borrowing capacity

$ 231,000,000

Principal payments made

235,900,000

Secured Debt | Line of Credit | Minimum

Line of Credit Facility [Line Items]

Debt instrument, basis spread on variable rate

2.50%

Secured Debt | Line of Credit | Maximum

Line of Credit Facility [Line Items]

Debt instrument, basis spread on variable rate

4.75%

Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum

Line of Credit Facility [Line Items]

Debt instrument, interest rate

Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum

Line of Credit Facility [Line Items]

Debt instrument, basis spread on variable rate

Revolving Credit Facility | Base Rate

Line of Credit Facility [Line Items]

Debt instrument, basis spread on variable rate

Revolving Credit Facility | Line of Credit

Line of Credit Facility [Line Items]

Line of credit facility, maximum borrowing capacity

$ 100,000,000

$ 73,000,000

73,600,000

$ 135,000,000

Increase to maximum borrowing capacity

$ 35,000,000

$ 25,000,000

Minimum revolving exposure for asset coverage ratio

$ 50,000,000

Debt instrument, credit commitments terminated

25,800,000

Fees paid

$ 700,000

Revolving Credit Facility | Line of Credit | Forecast

Line of Credit Facility [Line Items]

Line of credit facility, maximum borrowing capacity

$ 71,700,000

$ 72,400,000

Senior Secured Credit Facility | Secured Debt | Subsequent Event

Line of Credit Facility [Line Items]

Fees paid

$ 700,000

Senior Secured Credit Facility | Secured Debt | Term Loans | Subsequent Event

Line of Credit Facility [Line Items]

Line of credit facility, maximum borrowing capacity

$ 683,800,000

Commitments and Contingencies (

Commitments and Contingencies (Details) - defendant	Oct. 07, 2021	Aug. 16, 2021
Hartel v. SelectQuote, Inc. \| Executive Officer
Loss Contingencies [Line Items]
Number of defendants		2
West Palm Beach Police Pension Fund v. SelectQuote, Inc. \| Executive Officer
Loss Contingencies [Line Items]
Number of defendants	2
West Palm Beach Police Pension Fund v. SelectQuote, Inc. \| Current And Former Director
Loss Contingencies [Line Items]
Number of defendants	6

Shareholders' Equity - Common S

Shareholders' Equity - Common Stock Reserved For Future Issuance (Details) - shares	Mar. 31, 2024	Jun. 30, 2023
Class of Stock [Line Items]
Options issued and outstanding under stock option plans (in shares)	3,766,981	3,847,339
Common Stock
Class of Stock [Line Items]
Number of shares available for grant (in shares)	21,831,217
ESPP \| Common Stock
Class of Stock [Line Items]
Number of shares available for grant (in shares)	159
2020 Plan \| Common Stock
Class of Stock [Line Items]
Number of shares available for grant (in shares)	2,849,703
Options issued and outstanding under stock option plans (in shares)	18,457,999
2003 Plan \| Common Stock
Class of Stock [Line Items]
Options issued and outstanding under stock option plans (in shares)	523,356

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details)		3 Months Ended		9 Months Ended
Shareholders' Equity - Narrative (Details)	Sep. 13, 2023 shares	Mar. 31, 2024 USD ($) installment shares	Mar. 31, 2023 USD ($)	Mar. 31, 2024 USD ($) tranche plan installment shares	Mar. 31, 2023 USD ($) shares
Class of Stock [Line Items]
Number of share-based compensation plans \| plan				2
Options granted (in shares)				0
Cost not yet recognized \| $		$ 2,700,000		$ 2,700,000
Cost not yet recognized, period for recognition				1 year 4 months 2 days
Proceeds from common stock options exercised and employee stock purchase plan \| $				$ 8,000	$ 1,187,000
Restricted Stock Units (RSUs)
Class of Stock [Line Items]
Share-based cost not yet recognized (Less Than for PSU's granted) \| $		11,900,000		$ 11,900,000
Weighted-average remaining service period (in years)				1 year 10 months 13 days
Restricted Stock Units (RSUs) \| Minimum
Class of Stock [Line Items]
Award performance period				1 year
Restricted Stock Units (RSUs) \| Maximum
Class of Stock [Line Items]
Award performance period				4 years
Performance Stock \| Tranche 1
Class of Stock [Line Items]
Number of potential shares earned (in percent)	13%
Shares issued to employees (in shares)	14,477
Price-Vested Units (PVUs)
Class of Stock [Line Items]
Options granted (in shares)				2,270,530
Award performance period				5 years
Share-based cost not yet recognized (Less Than for PSU's granted) \| $		$ 4,100,000		$ 4,100,000
Weighted-average remaining service period (in years)				1 year 5 months 12 days
Number of tranches \| tranche				4
Threshold days for determining the weighted average price of share				60 days
Number of tranches in straight line basis \| tranche				12
Price-Vested Units (PVUs) \| Tranche 1
Class of Stock [Line Items]
Options granted (in shares)				559,202	1,055,674
Price-Vested Units (PVUs) \| Tranche 2
Class of Stock [Line Items]
Options granted (in shares)				559,175	1,055,648
Common Stock
Class of Stock [Line Items]
Number of shares available for grant (in shares)		21,831,217		21,831,217
2020 Plan
Class of Stock [Line Items]
Percentage of outstanding stock annual increase, maximum				3%
2020 Plan \| Incentive Stock Options
Class of Stock [Line Items]
Common stock, shares reserved for future issuance (in shares)		4,000,000		4,000,000
2020 Plan \| ESPP
Class of Stock [Line Items]
Proceeds from common stock options exercised and employee stock purchase plan \| $			$ 100,000		$ 100,000
Shares issued to employees (in shares)					876,933
2020 Plan \| Common Stock
Class of Stock [Line Items]
Number of shares available for grant (in shares)		2,849,703		2,849,703
2003 Plan
Class of Stock [Line Items]
Award exercise period after termination				90 days
Award exercise period after termination due to death or disability				12 months
Award expiration period (in years)				10 years
Number of installments \| installment		4		4
Purchase price of common stock, percent				100%
Proceeds from common stock options exercised and employee stock purchase plan \| $		$ 100,000	100,000	$ 100,000	$ 600,000
ESPP \| ESPP
Class of Stock [Line Items]
Proceeds from common stock options exercised and employee stock purchase plan \| $			$ 100,000		$ 600,000
Minimum purchase price of common stock as a percent of common stock exercise date fair value, percent				85%
ESPP \| Common Stock
Class of Stock [Line Items]
Number of shares available for grant (in shares)		159		159

Shareholders' Equity - Schedule

Shareholders' Equity - Schedule of Share-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Class of Stock [Line Items]
Share-based compensation expense	$ 3,515	$ 2,925	$ 10,512	$ 8,398
Equity classified stock options
Class of Stock [Line Items]
Share-based compensation expense	673	799	2,109	2,495
Equity classified RSU's
Class of Stock [Line Items]
Share-based compensation expense	1,992	1,563	5,850	4,490
Equity classified PSU's
Class of Stock [Line Items]
Share-based compensation expense	0	77	33	29
Equity classified PVU's
Class of Stock [Line Items]
Share-based compensation expense	$ 850	$ 486	$ 2,520	$ 1,384

Shareholders' Equity - Option A

Shareholders' Equity - Option Activity (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Number of Options
Beginning balance (in shares) \| shares	3,847,339
Options granted (in shares) \| shares	0
Options exercised (in shares) \| shares	(16,000)
Options forfeited/expired/cancelled (in shares) \| shares	(64,358)
Ending balance (in shares) \| shares	3,766,981
Vested and exercisable, number of options (in shares) \| shares	2,505,019
Weighted- Average Exercise Price
Beginning balance (in dollars per share) \| $ / shares	$ 11.56
Options granted (in dollars per share) \| $ / shares	0
Options exercised (in dollars per share) \| $ / shares	0.53
Options forfeited/expired/cancelled (in dollars per share) \| $ / shares	7.38
Ending balance (in dollars per share) \| $ / shares	11.68
Vested and exercisable, weighted average exercise price (in dollars per share) \| $ / shares	$ 11.77
Weighted-average remaining contractual term, outstanding (in years)	6 years 8 months 12 days
Weighted-average remaining contractual term, vested and exercisable (in years)	6 years 4 months 6 days
Aggregate intrinsic value, outstanding \| $	$ 178
Aggregate intrinsic value, vested and exercisable \| $	$ 178

Shareholders' Equity - Restrict

Shareholders' Equity - Restricted Stock Unit and Performance Stock Activity (Details) - $ / shares	9 Months Ended
	Mar. 31, 2024	Sep. 13, 2023
Weighted-Average Grant Date Fair Value
Forfeited (in dollars per share)	$ 0
Restricted Stock Units (RSUs)
Number of Restricted Stock Units
Beginning balance (in shares)	4,911,613
Granted (in shares)	6,578,688
Vested (in shares)	(2,468,847)
Forfeited (in shares)	(217,727)
Ending balance (in shares)	8,803,727
Weighted-Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 2.57
Granted (in dollars per share)	1.49
Vested (in dollars per share)	2.08
Forfeited (in dollars per share)	2.12
Ending balance (in dollars per share)	$ 1.91
Restricted Stock Units (RSUs) \| Minimum
Weighted-Average Grant Date Fair Value
Award performance period	1 year
Restricted Stock Units (RSUs) \| Maximum
Weighted-Average Grant Date Fair Value
Award performance period	4 years
Performance Stock
Number of Restricted Stock Units
Beginning balance (in shares)	13,365
Granted (in shares)	0
Vested (in shares)	(14,477)
Forfeited (in shares)	0
Performance adjustment (in shares)	1,112
Ending balance (in shares)	0
Weighted-Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 17.96
Granted (in dollars per share)	0
Vested (in dollars per share)	17.95
Forfeited (in dollars per share)	0
Performance adjustment (in dollars per share)	0
Ending balance (in dollars per share)	$ 0
Performance Stock \| Tranche 1
Weighted-Average Grant Date Fair Value
Number of potential shares earned (in percent)		13%

Shareholders' Equity - Price Ve

Shareholders' Equity - Price Vesting Units (Details) - $ / shares	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Class of Stock [Line Items]
Number of shares per tranche (in shares)	0
Stock price hurdle (in USD per Share)	$ 0
Price-Vested Units (PVUs)
Class of Stock [Line Items]
Number of shares per tranche (in shares)	2,270,530
Grant date fair value (in USD per Share)	$ 1.62
Price-Vested Units (PVUs) \| Tranche 1
Class of Stock [Line Items]
Number of shares per tranche (in shares)	559,202	1,055,674
Grant date fair value (in USD per Share)	$ 1.85	$ 1.52
Stock price hurdle (in USD per Share)	$ 2.50	$ 4
Price-Vested Units (PVUs) \| Tranche 1 \| Minimum
Class of Stock [Line Items]
Requisite service period (in years)	1 year	1 year 4 months 20 days
Price-Vested Units (PVUs) \| Tranche 1 \| Maximum
Class of Stock [Line Items]
Requisite service period (in years)	3 years	3 years
Price-Vested Units (PVUs) \| Tranche 2
Class of Stock [Line Items]
Number of shares per tranche (in shares)	559,175	1,055,648
Grant date fair value (in USD per Share)	$ 1.69	$ 1.25
Stock price hurdle (in USD per Share)	$ 5	$ 7.50
Price-Vested Units (PVUs) \| Tranche 2 \| Minimum
Class of Stock [Line Items]
Requisite service period (in years)	1 year 4 months 28 days	2 years 3 months 29 days
Price-Vested Units (PVUs) \| Tranche 2 \| Maximum
Class of Stock [Line Items]
Requisite service period (in years)	3 years	3 years
Price-Vested Units (PVUs) \| Tranche 3
Class of Stock [Line Items]
Number of shares per tranche (in shares)	559,213	1,055,674
Grant date fair value (in USD per Share)	$ 1.55	$ 1.11
Stock price hurdle (in USD per Share)	$ 7.50	$ 10
Price-Vested Units (PVUs) \| Tranche 3 \| Minimum
Class of Stock [Line Items]
Requisite service period (in years)	1 year 11 months 15 days	2 years 7 months 28 days
Price-Vested Units (PVUs) \| Tranche 3 \| Maximum
Class of Stock [Line Items]
Requisite service period (in years)	3 years	3 years
Price-Vested Units (PVUs) \| Tranche 4
Class of Stock [Line Items]
Number of shares per tranche (in shares)	559,185	1,055,648
Grant date fair value (in USD per Share)	$ 1.45	$ 1.01
Stock price hurdle (in USD per Share)	$ 10	$ 12.50
Price-Vested Units (PVUs) \| Tranche 4 \| Minimum
Class of Stock [Line Items]
Requisite service period (in years)	2 years 3 months 7 days	2 years 10 months 24 days
Price-Vested Units (PVUs) \| Tranche 4 \| Maximum
Class of Stock [Line Items]
Requisite service period (in years)	3 years	3 years
Price-Vested Units (PVUs) \| Tranche 5
Class of Stock [Line Items]
Number of shares per tranche (in shares)	8,439
Grant date fair value (in USD per Share)	$ 0.98
Stock price hurdle (in USD per Share)	$ 2.50
Price-Vested Units (PVUs) \| Tranche 5 \| Minimum
Class of Stock [Line Items]
Requisite service period (in years)	1 year 3 months 14 days
Price-Vested Units (PVUs) \| Tranche 5 \| Maximum
Class of Stock [Line Items]
Requisite service period (in years)	3 years
Price-Vested Units (PVUs) \| Tranche 6
Class of Stock [Line Items]
Number of shares per tranche (in shares)	8,437
Grant date fair value (in USD per Share)	$ 0.84
Stock price hurdle (in USD per Share)	$ 5
Price-Vested Units (PVUs) \| Tranche 6 \| Minimum
Class of Stock [Line Items]
Requisite service period (in years)	2 years 2 months 12 days
Price-Vested Units (PVUs) \| Tranche 6 \| Maximum
Class of Stock [Line Items]
Requisite service period (in years)	3 years
Price-Vested Units (PVUs) \| Tranche 7
Class of Stock [Line Items]
Number of shares per tranche (in shares)	8,441
Grant date fair value (in USD per Share)	$ 0.75
Stock price hurdle (in USD per Share)	$ 7.50
Price-Vested Units (PVUs) \| Tranche 7 \| Minimum
Class of Stock [Line Items]
Requisite service period (in years)	2 years 7 months 20 days
Price-Vested Units (PVUs) \| Tranche 7 \| Maximum
Class of Stock [Line Items]
Requisite service period (in years)	3 years
Price-Vested Units (PVUs) \| Tranche 8
Class of Stock [Line Items]
Number of shares per tranche (in shares)	8,438
Grant date fair value (in USD per Share)	$ 0.67
Stock price hurdle (in USD per Share)	$ 10
Price-Vested Units (PVUs) \| Tranche 8 \| Minimum
Class of Stock [Line Items]
Requisite service period (in years)	2 years 10 months 24 days
Price-Vested Units (PVUs) \| Tranche 8 \| Maximum
Class of Stock [Line Items]
Requisite service period (in years)	3 years

Shareholders' Equity - Fair Val

Shareholders' Equity - Fair Value Assumptions (Details) - Price-Vested Units (PVUs) - $ / shares	Feb. 01, 2024	Aug. 01, 2023	Aug. 01, 2022
Class of Stock [Line Items]
Share price as of grant date	$ 1.11	$ 1.38	$ 1.80
Volatility	90.80%	94.30%	79.30%
Risk-free interest rate	3.70%	4.10%	2.60%
Cost of Equity	11.60%	9.20%	10.60%
Dividend yield	0%	0%	0%

Shareholders' Equity - Price-ve

Shareholders' Equity - Price-vested Stock Unit Activity (Details)	9 Months Ended
	Mar. 31, 2024 $ / shares shares
Number of Price-Vested Units
Granted (in shares)	0
Price-Vested Units (PVUs)
Number of Price-Vested Units
Beginning balance (in shares)	4,044,180
Granted (in shares)	2,270,530
Vested (in shares)	0
Forfeited (in shares)	(70,802)
Ending balance (in shares)	6,243,908
Weighted-Average Grant Date Fair Value
Beginning balance (in dollars per share) \| $ / shares	$ 1.22
Granted (in dollars per share) \| $ / shares	1.62
Vested (in dollars per share) \| $ / shares	0
Forfeited (in dollars per share) \| $ / shares	1.36
Ending balance (in dollars per share) \| $ / shares	$ 1.37

Shareholders' Equity - Employee

Shareholders' Equity - Employee Stock Purchase Plan (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Proceeds from common stock options exercised and employee stock purchase plan		$ 8	$ 1,187
Common Stock
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Number of shares available for grant (in shares)		21,831,217
ESPP \| Common Stock
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Number of shares available for grant (in shares)		159
ESPP \| ESPP
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Minimum purchase price of common stock as a percent of common stock exercise date fair value, percent		85%
Proceeds from common stock options exercised and employee stock purchase plan	$ 100		$ 600

Revenue from Contracts with C_2

Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 376,400	$ 299,398	$ 1,014,567	$ 781,070
Commission
Disaggregation of Revenue [Line Items]
Total revenue	230,763	197,258	611,744	533,627
Total pharmacy revenue
Disaggregation of Revenue [Line Items]
Total revenue	120,282	66,948	323,865	159,641
Total other revenue
Disaggregation of Revenue [Line Items]
Total revenue	25,355	35,192	78,958	87,802
Intersegment Eliminations
Disaggregation of Revenue [Line Items]
Total revenue	1,886	1,715	4,926	5,649
Intersegment Eliminations \| Commission
Disaggregation of Revenue [Line Items]
Total revenue	833	664	1,950	2,325
Intersegment Eliminations \| Total other revenue
Disaggregation of Revenue [Line Items]
Total revenue	1,053	1,051	2,976	3,324
Senior: \| Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	204,259	185,200	541,705	486,541
Senior: \| Operating Segments \| Commission
Disaggregation of Revenue [Line Items]
Total revenue	187,524	158,545	484,703	420,284
Senior: \| Operating Segments \| Medicare advantage
Disaggregation of Revenue [Line Items]
Total revenue	184,740	156,014	477,081	412,850
Senior: \| Operating Segments \| Medicare supplement
Disaggregation of Revenue [Line Items]
Total revenue	1,027	417	2,965	1,588
Senior: \| Operating Segments \| Prescription drug plan
Disaggregation of Revenue [Line Items]
Total revenue	324	203	697	481
Senior: \| Operating Segments \| Dental, vision, and health
Disaggregation of Revenue [Line Items]
Total revenue	845	1,185	2,599	3,203
Senior: \| Operating Segments \| Other commission revenue
Disaggregation of Revenue [Line Items]
Total revenue	588	726	1,361	2,162
Senior: \| Operating Segments \| Total other revenue
Disaggregation of Revenue [Line Items]
Total revenue	16,735	26,655	57,002	66,257
Healthcare Services: \| Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	124,207	70,725	333,284	169,270
Healthcare Services: \| Operating Segments \| Total pharmacy revenue
Disaggregation of Revenue [Line Items]
Total revenue	120,282	66,948	323,865	159,641
Healthcare Services: \| Operating Segments \| Total other revenue
Disaggregation of Revenue [Line Items]
Total revenue	3,925	3,777	9,419	9,629
Life: \| Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	40,686	36,950	115,855	107,780
Life: \| Operating Segments \| Commission
Disaggregation of Revenue [Line Items]
Total revenue	35,326	31,482	101,155	93,728
Life: \| Operating Segments \| Term
Disaggregation of Revenue [Line Items]
Total revenue	17,789	17,678	55,016	49,371
Life: \| Operating Segments \| Final expense
Disaggregation of Revenue [Line Items]
Total revenue	17,537	13,804	46,139	44,357
Life: \| Operating Segments \| Total other revenue
Disaggregation of Revenue [Line Items]
Total revenue	5,360	5,468	14,700	14,052
Auto & Home: \| Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	9,134	8,238	28,649	23,128
Auto & Home: \| Operating Segments \| Commission
Disaggregation of Revenue [Line Items]
Total revenue	8,746	7,895	27,836	21,940
Auto & Home: \| Operating Segments \| Total other revenue
Disaggregation of Revenue [Line Items]
Total revenue	$ 388	$ 343	$ 813	$ 1,188

Revenues from Contracts with _2

Revenues from Contracts with Customers - Commission Receivable Roll Forward (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2024 USD ($)
Activity in Commissions Receivable [Roll Forward]
Beginning balance	$ 840,498
Commission revenue from revenue recognized	218,136
Net commission revenue adjustment from change in estimate	1,667
Amounts recognized as accounts receivable, net	(227,178)
Ending balance	$ 833,123

Revenues from Contracts with _3

Revenues from Contracts with Customers - Narrative (Details) $ in Millions	9 Months Ended
	Mar. 31, 2024 USD ($)
Disaggregation of Revenue [Line Items]
Net commission revenue adjustment from change in estimate	$ 1.7
Auto & Home Segment \| Senior
Disaggregation of Revenue [Line Items]
Negative adjustment	1.8
Positive adjustment	3.4
Auto & Home Segment \| Life Segment
Disaggregation of Revenue [Line Items]
Negative adjustment	$ 0.1

Revenues from Contracts with _4

Revenues from Contracts with Customers - Contract Liabilities Roll Forward (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2024 USD ($)
Activities in Contract Liabilities [Roll Forward]
Balance as of June 30, 2023	$ 1,691
Commission revenue recognized	(27,241)
Other revenue recognized	(515)
Amounts recognized as contract liabilities	29,720
Balance as of March 31, 2024	$ 3,655

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 169	$ 3,152	$ (1,143)	$ (1,053)
Effective income tax rate reconciliation, percent	1.90%	25.40%	26.90%	8.90%
Valuation allowance	$ 3,600		$ 3,600

Net Income (Loss) Per Share - S

Net Income (Loss) Per Share - Schedule of Earnings (Loss) Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Numerator:
Net income (loss) attributable to common shareholders	$ 8,551	$ 9,264	$ (3,108)	$ (10,706)
Denominator:
Weighted average number of shares outstanding, basic (in shares)	169,070	166,543	168,291	165,951
Net income (loss) per share—basic (in dollars per	$ 0.05	$ 0.06	$ (0.02)	$ (0.06)
Numerator:
Net income (loss) attributable to common and common equivalent shareholders	$ 8,551	$ 9,264	$ (3,108)	$ (10,706)
Denominator:
Stock options outstanding to purchase shares of common stock including unvested RSU's and from the ESPP (in shares)	1,886	1,362	0	0
Total common and common equivalent shares outstanding (in shares)	170,956	167,905	168,291	165,951
Net income (loss) per share—diluted (in dollars per	$ 0.05	$ 0.06	$ (0.02)	$ (0.06)

Net Income (Loss) Per Share - A

Net Income (Loss) Per Share - Antidilutive Shares (Details) - Stock Option - shares shares in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	6,244	4,110	6,268	4,165
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	6,483	4,181	12,145	8,338
Price-Vested Units (PVUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	6,244	4,100	6,268	4,158
Phantom Share Units (PSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	0	10	0	7

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2024 USD ($) segment	Mar. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment			4
Revenue	$ 376,400	$ 299,398	$ 1,014,567	$ 781,070
Operating expenses	(329,790)	(255,166)	(911,881)	(700,825)
Other income (expense), net	(12)	(206)	(51)	(118)
Adjusted EBITDA	46,598	44,026	102,635	80,127
Share-based compensation expense	(3,515)	(2,959)	(10,512)	(8,525)
Transaction costs	(3,325)	(433)	(7,629)	(3,003)
Depreciation and amortization	(6,704)	(7,098)	(18,591)	(21,087)
Loss on disposal of property, equipment, and software			(13)	(386)
Loss on disposal of property, equipment, and software	(4)	(15)	(13)	(390)
Interest expense, net	(24,330)	(21,105)	(70,141)	(58,885)
Income tax expense	(169)	(3,152)	1,143	1,053
NET INCOME (LOSS)	8,551	9,264	(3,108)	(10,706)
Corp & Elims
Segment Reporting Information [Line Items]
Revenue	(1,886)	(1,715)	(4,926)	(5,649)
Operating expenses	(21,355)	(17,947)	(62,770)	(52,270)
Other income (expense), net	(11)	(6)	(50)	(117)
Adjusted EBITDA	(23,252)	(19,668)	(67,746)	(58,036)
Salary expense	16,200	(12,600)	46,700	(36,800)
Professional fees	3,900	(4,600)	12,000	(13,800)
Senior: \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	204,259	185,200	541,705	486,541
Operating expenses	(142,765)	(126,034)	(402,834)	(347,608)
Other income (expense), net	0	0	0	0
Adjusted EBITDA	61,494	59,166	138,871	138,933
Healthcare Services: \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	124,207	70,725	333,284	169,270
Operating expenses	(122,598)	(74,091)	(326,373)	(193,726)
Other income (expense), net	0	0	0	0
Adjusted EBITDA	1,609	(3,366)	6,911	(24,456)
Life: \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	40,686	36,950	115,855	107,780
Operating expenses	(37,548)	(31,446)	(102,910)	(91,409)
Other income (expense), net	0	(201)	0	0
Adjusted EBITDA	3,138	5,303	12,945	16,371
Auto & Home: \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	9,134	8,238	28,649	23,128
Operating expenses	(5,524)	(5,648)	(16,994)	(15,812)
Other income (expense), net	(1)	1	(1)	(1)
Adjusted EBITDA	$ 3,609	$ 2,591	$ 11,654	$ 7,315

Segment Information - Narrative

Segment Information - Narrative (Details) - Revenue from Contract with Customer Benchmark - Customer Concentration Risk - Senior and Healthcare Services Segments	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
UHC
Segment Reporting Information [Line Items]
Concentration risk, percentage	27%	31%	30%	31%
Aetna
Segment Reporting Information [Line Items]
Concentration risk, percentage	20%		15%
Humana
Segment Reporting Information [Line Items]
Concentration risk, percentage	18%	24%	18%	21%
Wellcare
Segment Reporting Information [Line Items]
Concentration risk, percentage		8%		10%