Segment Information (Tables)

12 Months Ended

Jun. 30, 2025

Significant Components of Segment Costs and Expenses, Along With a Reconciliation to Net Income (Loss)

The significant components of segment costs and expenses, along with a reconciliation to net income (loss) are presented below (in thousands):


	Fiscal Year Ended June 30,
	2025		2024			2023
Net revenue	$	1,093,711	$	613,514		$	580,624
Less:
DMS expense (1)	$	989,570	$	572,650		$	541,462
General and administrative expense (2)		20,683		19,194			19,747
Corporate systems expense (2)		2,197		2,078			2,290
Other segment cost and expense (3)		76,554		50,925			85,991
Net income (loss)	$	4,707	$	(31,331	)	$	(68,866	)

(1) Digital marketing services (“DMS”) expense primarily includes media and marketing expense, personnel-related costs, general facilities, and professional fees.

(2) General and administrative expense and Corporate systems expense are primarily comprised of personnel-related costs, professional fees, general facilities, office-related costs and technology service costs.

(3) Other segment cost and expense primarily includes non-cash depreciation, amortization, stock-based compensation and other non-recurring expenses, as well as interest income and income taxes, which are included in net income (loss).

Net Revenue and Long-Lived Assets by Geographic Area

The following tables summarize the net revenue and long-lived assets by geographic area (in thousands):


	Fiscal Year Ended June 30,
	2025		2024		2023
Net revenue:
United States	$	1,080,730	$	607,373	$	570,703
International		12,981		6,141		9,921
Total net revenue	$	1,093,711	$	613,514	$	580,624


	June 30,
	2025		2024
Property and equipment, net:
United States	$	16,590	$	19,643
International		228		215
Total property and equipment, net	$	16,818	$	19,858


	June 30,
	2025		2024
Intangible assets, net:
United States	$	28,475	$	38,008
International		—		—
Total intangible assets, net	$	28,475	$	38,008

QUINSTREET, INC 10-K