10-Q – 2026-05-06 – R10.htm

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REVENUE RECOGNITION

9 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]
 

REVENUE RECOGNITION
NOTE 2: REVENUE RECOGNITION
The majority of our revenues are from our United States (U.S.) tax services business. The following table disaggregates our U.S. revenues by major service line, with revenues from our international tax services businesses and from Wave included as separate lines:

(in 000s)
Three months ended March 31, Nine months ended March 31,
2026 2025 2026 2025
Revenues:
U.S. assisted tax preparation $ 1,742,135   $ 1,635,877  $ 1,846,698   $ 1,727,220 
U.S. royalties 128,182   133,961  139,139   143,312 
U.S. DIY tax preparation 215,245   214,666  235,797   231,646 
Refund Transfers 119,935   113,732  121,416   115,229 
Peace of Mind® Extended Service Plan 14,347   15,625  54,087   54,867 
Tax Identity Shield® 8,485   7,025  16,851   14,947 
Emerald Card® and Spruce SM
39,590   40,195  56,566   59,169 
Interest and fee income on Emerald Advance® 15,198   14,286  28,644   26,594 
International 70,119   60,438  170,498   157,104 
Wave 29,871   26,717  89,506   79,681 
Other 15,000   14,582  41,321   40,215 
Total revenues $ 2,398,107   $ 2,277,104  $ 2,800,523   $ 2,649,984 

Changes in the balances of deferred revenue and wages for our Peace of Mind® Extended Service Plan (POM) are as follows:

(in 000s)
POM Deferred Revenue Deferred Wages
Nine months ended March 31, 2026 2025 2026 2025
Balance, beginning of the period $ 149,302   $ 156,610  $ 19,884   $ 20,212 
Amounts deferred 83,409   70,536  9,355   7,222 
Amounts recognized on previous deferrals (61,743) (64,885) (7,925) (8,396)
Balance, end of the period $ 170,968   $ 162,261  $ 21,314   $ 19,038 

As of March 31, 2026, deferred revenue related to POM was $171.0 million. W e expect that $91.9 million will be recognized over the next twelve months, while the remaining balance will be recognized over the following five years.
As of March 31, 2026 and 2025, Tax Identity Shield® (TIS) deferred revenue was $37.6 million and $31.2 million, respectively. Deferred revenue related to TIS was $22.6 million and $21.4 million as of June 30, 2025 and 2024, respectively. All deferred revenue related to TIS will be recognized by April 2027.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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