v3.26.1
Statements of Operations-Additional Information
12 Months Ended
Jun. 30, 2026
Income Statement Related Disclosures [Abstract]  
Disaggregated Revenue, Deferred Revenue and Customer Payment Terms

4.   Statements of Operations—Additional Information

Disaggregated revenue and customer payment terms

We develop, manufacture and market a broad range of products for food animals including poultry, beef and dairy cattle, swine, aquaculture and dogs. The products help prevent, control and treat diseases and enhance nutrition to help improve animal health and well-being. We sell animal health and mineral nutrition products directly to integrated poultry, cattle and swine customers and through commercial animal feed manufacturers, distributors and veterinarians The animal health industry and demand for many of the animal health products in a particular region are affected by changing disease pressures and by weather conditions, as product usage follows varying weather patterns and seasons. Our operations are primarily focused on regions where the majority of livestock production is consolidated in large commercial farms.

We have a diversified portfolio of products that are classified within our three reportable business segments — Animal Health, Mineral Nutrition and Performance Products. Each segment has its own dedicated management and sales team.

Animal Health

The Animal Health business develops, manufactures and markets products in three main categories:

●MFAs and other: MFAs and other products primarily consist of concentrated medicated products administered through animal feeds, commonly referred to as Medicated Feed Additives (“MFAs”). Specific product classifications include antibacterials, which inhibit the growth of pathogenic bacteria that cause infections in animals; anticoccidials, which inhibit the growth of coccidia (parasites) that damage the intestinal tract of animals; and other related products. The MFAs and other category also includes antibacterials and other processing aids used in the ethanol fermentation industry.
●Nutritional specialties: Nutritional specialty products enhance nutrition to help improve health and performance in areas such as immune system function and digestive health. We are also a developer, manufacturer and marketer of microbial products and bioproducts for a variety of applications serving animal health and nutrition, environmental, industrial and agricultural customers.
●Vaccines: Vaccine products are primarily focused on preventing diseases in poultry, beef and dairy cattle, swine, and aquaculture. They protect animals from either viral or bacterial disease challenges. We develop, manufacture and market conventionally licensed and autogenous vaccine products, as well as adjuvants for animal vaccine manufacturers. We have developed and market an innovative and proprietary delivery platform for vaccines.

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Mineral Nutrition

The Mineral Nutrition business is comprised of formulations and concentrations of trace minerals such as zinc, manganese, copper, iron and other compounds, with a focus on customers in North America. Our customers use these products to fortify the daily feed requirements of their livestock’s diets and maintain an optimal balance of trace elements in each animal. We manufacture and market a broad range of mineral nutrition products for food animals including poultry, beef and dairy cattle and swine.

Performance Products

The Performance Products business manufactures and markets specialty ingredients for use in the personal care, industrial chemical and chemical catalyst industries.

The following tables present our revenues disaggregated by major product category and geographic region:

Net Sales by Product Type

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​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

​

​

​

For the Year Ended June 30

​

2026

​

2025

​

2024

Animal Health

​

​

  ​

 

​

  ​

​

​

​

MFAs and other

​

$

810,728

​

$

646,354

​

$

420,959

Nutritional specialties

​

 

195,072

​

 

179,289

​

 

164,671

Vaccines

​

 

156,419

​

 

137,153

​

 

120,852

Total Animal Health

​

$

1,162,219

​

$

962,796

​

$

706,482

Mineral Nutrition

​

 

282,341

​

 

253,240

​

 

243,663

Performance Products

​

 

73,533

​

 

80,179

​

 

67,534

Total

​

$

1,518,093

​

$

1,296,215

​

$

1,017,679

​

Net Sales by Region

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the Year Ended June 30

​

2026

  ​ ​ ​

2025

 

2024

United States

​

$

877,127

​

$

739,919

​

$

584,763

Latin America and Canada

​

 

340,668

​

 

298,649

​

 

247,705

Europe, Middle East and Africa

​

 

187,942

​

 

160,232

​

 

121,977

Asia Pacific

​

 

112,356

​

 

97,415

​

 

63,234

Total

​

$

1,518,093

​

$

1,296,215

​

$

1,017,679

 

​

Net sales by region are based on country of destination.

Our customer payment terms generally range from 30 to 120 days globally and do not include any significant financing components. Payment terms vary based on industry and business practices within the regions in which we operate. Our average worldwide collection period for accounts receivable is approximately 60 days after the revenue is recognized.

 

 

Additional Information

Additional Information

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For the Year Ended June 30

​

2026

  ​ ​ ​

2025

  ​ ​ ​

2024

Interest expense, net

​

​

​

​

​

​

​

​

​

Credit Facilities

​

$

43,815

​

$

32,779

​

$

20,646

2022 Term loan

​

​

—

​

​

12

​

​

862

Amortization of debt issuance costs

​

 

2,317

​

 

2,015

​

 

1,040

Refinancing expense

​

​

—

​

​

1,960

​

​

—

Other

​

 

284

​

 

458

​

 

462

Interest expense

​

 

46,416

​

 

37,224

​

 

23,010

Interest income

​

 

(1,987)

​

 

(2,622)

​

 

(4,474)

​

​

$

44,429

​

$

34,602

​

$

18,536

 

 

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the Year Ended June 30

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2024

Depreciation and amortization

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​

​

 

​

​

 

  ​

Depreciation of property, plant and equipment

​

$

44,635

​

$

37,762

​

$

26,517

Amortization of intangible assets

​

 

6,879

​

 

7,843

​

 

9,661

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​

$

51,514

​

$

45,605

​

$

36,178

 

 

Depreciation of property, plant and equipment includes amortization of capitalized software costs of $1,523, $1,421 and $1,436 during 2026, 2025 and 2024, respectively.

Future amortization of intangible assets as of June 30, 2026 is expected to be:

​

​

​

​

​

For the Years Ending June 30

  ​ ​ ​

​

  ​ ​ ​

2027

​

$

6,453

2028

​

 

6,245

2029

​

 

6,245

2030

​

 

4,843

2031

​

 

3,567

Thereafter

​

 

2,699

Total

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$

30,052

 

 

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​

​

​

​

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For the Year Ended June 30

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2024

Research and development expense

​

$

24,551

​

$

23,726

​

$

29,194

 

 

Research and development expenditures are expensed as incurred and are recorded in selling, general and administrative expenses in the consolidated statements of operations.