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REVENUE RECOGNITION

9 Months Ended

Mar. 31, 2025

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,
2025 2024 2025 2024
Revenues:
U.S. assisted tax preparation $ 1,635,877   $ 1,534,825  $ 1,727,220   $ 1,622,430 
U.S. royalties 133,961   141,915  143,312   153,070 
U.S. DIY tax preparation 214,666   198,570  231,646   215,529 
Refund Transfers 113,732   118,937  115,229   120,892 
Peace of Mind® Extended Service Plan 15,625   16,813  54,867   59,100 
Tax Identity Shield® 7,025   7,536  14,947   16,810 
Emerald Card® and Spruce SM
40,195   41,160  59,169   61,493 
Interest and fee income on Emerald Advance® 14,286   21,169  26,594   36,702 
International 60,438   68,264  157,104   158,398 
Wave 26,717   23,580  79,681   70,656 
Other 14,582   12,065  40,215   32,637 
Total revenues $ 2,277,104   $ 2,184,834  $ 2,649,984   $ 2,547,717 

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, 2025 2024 2025 2024
Balance, beginning of the period $ 156,610   $ 167,257  $ 20,212   $ 21,828 
Amounts deferred 70,536   72,369  7,222   8,324 
Amounts recognized on previous deferrals (64,885) (68,445) (8,396) (8,324)
Balance, end of the period $ 162,261   $ 171,181  $ 19,038   $ 21,828 

As of March 31, 2025, deferred revenue related to POM was $162.3 million. We expect that $91.8 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, 2025 and 2024, Tax Identity Shield® (TIS) deferred revenue was $31.2 million and $31.6 million, respectively. Deferred revenue related to TIS was $21.4 million and $25.2 million as of June 30, 2024 and 2023, respectively. All deferred revenue related to TIS will be recognized through April 2026.

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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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