EVI Industries (EVI) 10-Q 10 Feb 25 2025 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Dec. 31, 2024	Feb. 04, 2025
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Period End Date	Dec. 31, 2024
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q2
Entity Information [Line Items]
Entity Registrant Name	EVI Industries, Inc.
Entity Central Index Key	0000065312
Entity File Number	001-14757
Entity Tax Identification Number	11-2014231
Entity Incorporation, State or Country Code	DE
Current Fiscal Year End Date	--06-30
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	4500 Biscayne Blvd.
Entity Address, Address Line Two	Suite 340
Entity Address, City or Town	Miami
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33137
Entity Phone Fax Numbers [Line Items]
City Area Code	(305)
Local Phone Number	402-9300
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, $.025 par value
Trading Symbol	EVI
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		12,755,642

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Income Statement [Abstract]
Revenues	$ 92,711	$ 91,364	$ 186,336	$ 179,438
Cost of sales	65,189	64,958	129,959	127,340
Gross profit	27,522	26,406	56,377	52,098
Selling, general and administrative expenses	25,132	23,455	48,998	46,530
Operating income	2,390	2,951	7,379	5,568
Interest expense, net	670	823	1,152	1,593
Income before income taxes	1,720	2,128	6,227	3,975
Provision for income taxes	591	787	1,867	1,352
Net income	$ 1,129	$ 1,341	$ 4,360	$ 2,623
Net earnings per share – basic (in Dollars per share)	$ 0.08	$ 0.09	$ 0.29	$ 0.18
Net earnings per share – diluted (in Dollars per share)	$ 0.07	$ 0.09	$ 0.29	$ 0.17

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Current assets
Cash	$ 3,905	$ 4,558
Accounts receivable, net of allowance for expected credit losses of $2.6 million and $2.1 million, respectively	46,663	40,932
Inventories, net	50,487	47,901
Vendor deposits	2,835	1,657
Contract assets	978	1,222
Other current assets	8,231	5,671
Total current assets	113,099	101,941
Equipment and improvements, net	14,648	13,950
Operating lease assets	8,207	8,078
Intangible assets, net	24,124	22,022
Goodwill	79,473	75,102
Other assets	9,251	9,566
Total assets	248,802	230,659
Current liabilities
Accounts payable and accrued expenses	31,240	30,904
Accrued employee expenses	10,779	11,370
Customer deposits	26,247	24,419
Current portion of operating lease liabilities	3,426	3,110
Total current liabilities	71,692	69,803
Deferred tax liabilities, net	5,537	5,498
Long-term operating lease liabilities	5,644	5,849
Long-term debt, net	27,920	12,903
Total liabilities	110,793	94,053
Commitments and contingencies (Note 11)
Shareholders’ equity
Preferred stock, $1.00 par value; authorized shares – 200,000; none issued and outstanding
Common stock, $.025 par value; authorized shares - 20,000,000; 12,974,816 shares issued at December 31, 2024 and 12,868,709 shares issued at June 30, 2024, including shares held in treasury	324	322
Additional paid-in capital	108,857	106,540
Treasury stock, 219,905 shares at December 31, 2024 and 184,672 shares at June 30, 2024, at cost	(5,122)	(4,439)
Retained earnings	33,950	34,183
Total shareholders’ equity	138,009	136,606
Total liabilities and shareholders’ equity	$ 248,802	$ 230,659

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Millions	Dec. 31, 2024	Jun. 30, 2024
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance for expected credit losses (in Dollars)	$ 2.6	$ 2.1
Preferred stock, par value (in Dollars per share)	$ 1	$ 1
Preferred stock, shares authorized	200,000	200,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value (in Dollars per share)	$ 0.025	$ 0.025
Common stock, shares authorized	12,974,816	12,868,709
Common stock, shares issued	12,974,816	12,868,709
Treasury stock, shares	219,905	184,672

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Shareholders’ Equity (Unaudited) - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Total
Balance at Jun. 30, 2023	$ 318	$ 101,225	$ (3,195)	$ 32,608	$ 130,956
Balance (in Shares) at Jun. 30, 2023	12,711,558		134,001
Share repurchases			$ (1,144)		(1,144)
Share repurchases (in Shares)			45,851
Vesting of restricted shares	$ 3	(3)
Vesting of restricted shares (in Shares)	130,773
Issuance of shares under employee stock plan		63			$ 63
Issuance of shares under employee stock plan (in Shares)	2,636				2,636
Issuances of shares in connection with acquisitions		229			$ 229
Issuances of shares in connection with acquisitions (in Shares)	8,621
Amount of dividends paid				(4,071)	(4,071)
Stock compensation		2,924			2,924
Net income				2,623	2,623
Balance at Dec. 31, 2023	$ 321	104,438	$ (4,339)	31,160	131,580
Balance (in Shares) at Dec. 31, 2023	12,853,588		179,852
Balance at Sep. 30, 2023	$ 319	103,309	$ (3,509)	33,890	134,009
Balance (in Shares) at Sep. 30, 2023	12,754,532		146,826
Share repurchases			$ (830)		(830)
Share repurchases (in Shares)			33,026
Vesting of restricted shares	$ 2	(2)
Vesting of restricted shares (in Shares)	96,420
Issuance of shares under employee stock plan		63			63
Issuance of shares under employee stock plan (in Shares)	2,636
Amount of dividends paid				(4,071)	(4,071)
Stock compensation		1,068			1,068
Net income				1,341	1,341
Balance at Dec. 31, 2023	$ 321	104,438	$ (4,339)	31,160	131,580
Balance (in Shares) at Dec. 31, 2023	12,853,588		179,852
Balance at Jun. 30, 2024	$ 322	106,540	$ (4,439)	34,183	136,606
Balance (in Shares) at Jun. 30, 2024	12,868,709		184,672
Share repurchases			$ (683)		(683)
Share repurchases (in Shares)			35,233
Vesting of restricted shares	$ 2	(2)
Vesting of restricted shares (in Shares)	102,462
Issuance of shares under employee stock plan		56			$ 56
Issuance of shares under employee stock plan (in Shares)	3,645				3,645
Amount of dividends paid				(4,593)	$ (4,593)
Stock compensation		2,263			2,263
Net income				4,360	4,360
Balance at Dec. 31, 2024	$ 324	108,857	$ (5,122)	33,950	138,009
Balance (in Shares) at Dec. 31, 2024	12,974,816		219,905
Balance at Sep. 30, 2024	$ 323	107,606	$ (4,693)	32,821	136,057
Balance (in Shares) at Sep. 30, 2024	12,903,061		197,624
Share repurchases			$ (429)		(429)
Share repurchases (in Shares)			22,281
Vesting of restricted shares	$ 1	(1)
Vesting of restricted shares (in Shares)	68,110
Issuance of shares under employee stock plan		56			56
Issuance of shares under employee stock plan (in Shares)	3,645
Stock compensation		1,196			1,196
Net income				1,129	1,129
Balance at Dec. 31, 2024	$ 324	$ 108,857	$ (5,122)	$ 33,950	$ 138,009
Balance (in Shares) at Dec. 31, 2024	12,974,816		219,905

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders’ Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]
Dividends declared	$ 0.28	$ 0.31	$ 0.28

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Operating activities:
Net income	$ 4,360	$ 2,623
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	3,107	3,000
Amortization of debt discount	17	17
Provision for expected credit losses	602	283
Non-cash lease expense	(18)	49
Stock compensation	2,263	2,924
Inventory reserve	647	274
Provision (benefit) for deferred income taxes	39	(19)
Other	(104)	25
(Increase) decrease in operating assets:
Accounts receivable	(5,952)	3,910
Inventories	(518)	3,193
Vendor deposits	(1,178)	562
Contract assets	244	(2,388)
Other assets	(2,100)	1,269
(Decrease) increase in operating liabilities:
Accounts payable and accrued expenses	(7)	(4,172)
Accrued employee expenses	(591)	104
Customer deposits	1,365	(349)
Contract liabilities		(447)
Net cash provided by operating activities	2,176	10,858
Investing activities:
Capital expenditures	(2,124)	(2,376)
Cash paid for acquisitions, net of cash acquired	(10,485)	(987)
Net cash used by investing activities	(12,609)	(3,363)
Financing activities:
Dividends paid	(4,593)	(4,071)
Proceeds from long-term debt	45,000	35,500
Debt repayments	(30,000)	(39,500)
Repurchases of common stock in satisfaction of employee tax withholding obligations	(683)	(1,144)
Issuances of common stock under employee stock purchase plan	56	63
Net cash provided (used) by financing activities	9,780	(9,152)
Net decrease in cash	(653)	(1,657)
Cash at beginning of period	4,558	5,921
Cash at end of period	3,905	4,264
Supplemental disclosures of cash flow information:
Cash paid during the period for interest	1,017	1,578
Cash paid during the period for income taxes	1,090	3,631
Supplemental disclosures of non-cash financing activities:
Issuances of common stock for acquisitions		$ 229

General

General	6 Months Ended
	Dec. 31, 2024
General [Abstract]
General	Note (1) - General: The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements and the instructions to Form 10-Q and Article 10 of Regulation S-X related to interim period financial statements. Accordingly, the accompanying unaudited condensed consolidated financial statements do not include certain information and footnotes required by GAAP for complete financial statements. However, in management’s opinion, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of normal recurring accruals and adjustments) which are necessary in order to state fairly the Company’s results of operations, financial position, shareholders’ equity and cash flows as of and for the periods presented. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year or any other future period. The unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related notes, including the Summary of Significant Accounting Policies, included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2024. The June 30, 2024 balance sheet information contained herein was derived from the Company’s audited consolidated financial statements as of that date included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2024. The preparation of the Company’s unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The estimates and assumptions made may not prove to be correct, and actual results could differ from the estimates. The Company, through its wholly-owned subsidiaries, is a value-added distributor, and provides advisory and technical services. Through its sales organization, the Company provides its customers with planning, designing, and consulting services related to their commercial laundry operations. The Company sells and/or leases its customers commercial laundry equipment, specializing in washing, drying, finishing, material handling, water heating, power generation, and water reuse applications. In support of the suite of products it offers, the Company sells related parts and accessories. Additionally, through the Company’s network of commercial laundry technicians, the Company provides its customers with installation, maintenance, and repair services. The Company’s customers include government, institutional, industrial, commercial and retail customers. Product purchases made by customers range from parts and accessories, to single or multiple units of equipment, to large complex systems. The Company also provides its customers with the services described above. The Company’s growth strategy includes organic growth initiatives and business acquisitions pursuant to the Company’s “buy-and-build” growth strategy.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Dec. 31, 2024
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note (2) – Summary of Significant Accounting Policies:

Recently Issued Accounting Guid

Recently Issued Accounting Guidance	6 Months Ended
	Dec. 31, 2024
Recently Issued Accounting Guidance [Abstract]
Recently Issued Accounting Guidance	Note (3) – Recently Issued Accounting Guidance In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), which is designed to enhance the transparency and decision usefulness of income tax disclosures. ASU 2023-09 requires greater standardization and disaggregation of categories within an entity’s tax rate reconciliation disclosure, as well as disclosure of income taxes paid by jurisdiction, among other requirements. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, with early adoption permitted. ASU 2023-09 will be effective on a prospective basis, with retrospective application permitted. The Company is currently evaluating the effect of this ASU on its income tax disclosures. Management does not believe that accounting standards and updates which have been issued but are not yet effective will have a material impact on the Company’s consolidated financial statements upon adoption.

Acquisitions

Acquisitions	6 Months Ended
	Dec. 31, 2024
Acquisitions [Abstract]
Acquisitions	Note (4) – Acquisitions: On July 1, 2024, the Company completed the acquisition of Laundry Pro of Florida, Inc. (“LPF”), a Florida based distributor of commercial laundry products and a provider of related technical installation and maintenance services to the on-premise and vended laundry segments of the commercial laundry industry. The consideration paid by the Company in connection with the acquisition consisted of $5.9 million in cash. The Company funded the acquisition with borrowings under its credit facility. Fees and expenses related to the acquisition of LPF, consisting primarily of legal and other professional fees, were not material and are classified as selling, general and administrative expenses in the Company’s consolidated statement of operations for the six months ended December 31, 2024. The acquisition of LPF was treated for accounting purposes as a purchase of LPF using the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) 805, Business Combinations (“ASC 805”), pursuant to which the consideration paid by the Company was allocated to the acquired assets and assumed liabilities, in each case, based on their respective fair values as of the closing date, with the excess of the consideration transferred over the fair value of the net assets acquired being allocated to goodwill. The computation of the purchase price consideration and the preliminary allocation of the consideration to the net assets acquired are presented in the following table (in thousands): Allocation of purchase price consideration: Inventories $ 1,672 Other assets 145 Equipment and improvements 380 Intangible assets 1,470 Accounts payable and accrued expenses (16 ) Customer deposits (156 ) Total identifiable net assets 3,495 Goodwill 2,390 Total $ 5,885 While, as of the date of this Quarterly Report on Form 10-Q, the Company has finalized its assessment of certain of the assets acquired and liabilities assumed, the Company is continuing its valuation of certain working capital items, including inventories, other assets and accounts payable and accrued expenses, which is subject to adjustment in accordance with the asset purchase agreement. Accordingly, the purchase price allocation set forth above reflects preliminary fair value estimates based on preliminary work and analyses performed by management and is subject to change as additional information to assist in determining the fair value of those assets as of the closing date is obtained during the post-closing measurement period of up to one year. Intangible assets consist of $550,000 allocated to the Laundry Pro of Florida trade name and $920,000 allocated to customer-related intangible assets. The Laundry Pro of Florida trade name is indefinite-lived and therefore not subject to amortization. The Laundry Pro of Florida trade name will be evaluated for impairment annually, or more frequently if an event occurs or circumstances change that indicate that it may be impaired, by comparing its fair value to its carrying amount to determine if a write-down to fair value is required. Customer-related intangible assets are being amortized over 10 years. Goodwill is attributable primarily to the assembled workforce acquired, as well as benefits from the increased scale of the Company as a result of the acquisition. The goodwill from the acquisition is deductible for income tax purposes. On November 1, 2024, the Company completed the acquisition of O’Dell Equipment & Supply, Inc. (“ODL”), an Indiana based distributor of commercial laundry products and a provider of related technical installation and maintenance services to the on-premise and vended laundry segments of the commercial laundry industry. The consideration paid by the Company in connection with the acquisition consisted of $4.6 million in cash. The Company funded the acquisition with borrowings under its credit facility. Fees and expenses related to the acquisition of ODL, consisting primarily of legal and other professional fees, were not material and are classified as selling, general and administrative expenses in the Company’s consolidated statement of operations for the three and six months ended December 31, 2024. The acquisition of ODL was treated for accounting purposes as a purchase of ODL using the acquisition method of accounting in accordance with ASC 805, pursuant to which the consideration paid by the Company was allocated to the acquired assets and assumed liabilities, in each case, based on their respective fair values as of the closing date, with the excess of the consideration transferred over the fair value of the net assets acquired being allocated to goodwill. The computation of the purchase price consideration and the preliminary allocation of the consideration to the net assets acquired are presented in the following table (in thousands): Allocation of purchase price consideration: Accounts receivable $ 409 Inventories 1,043 Equipment and improvements 183 Intangible assets 1,750 Accounts payable and accrued expenses (355 ) Customer deposits (307 ) Total identifiable net assets 2,723 Goodwill 1,877 Total $ 4,600 While, as of the date of this Quarterly Report on Form 10-Q, the Company has finalized its assessment of certain of the assets acquired and liabilities assumed, the Company is continuing its valuation of certain working capital items, including inventories, other assets and accounts payable and accrued expenses, which is subject to adjustment in accordance with the asset purchase agreement. Accordingly, the purchase price allocation set forth above reflects preliminary fair value estimates based on preliminary work and analyses performed by management and is subject to change as additional information to assist in determining the fair value of those assets as of the closing date is obtained during the post-closing measurement period of up to one year. Intangible assets consist of $530,000 allocated to the O’Dell Equipment & Supply trade name and $1,220,000 allocated to customer-related intangible assets. The O’Dell Equipment & Supply trade name is indefinite-lived and therefore not subject to amortization. The O’Dell Equipment & Supply trade name will be evaluated for impairment annually, or more frequently if an event occurs or circumstances change that indicate that it may be impaired, by comparing its fair value to its carrying amount to determine if a write-down to fair value is required. Customer-related intangible assets are being amortized over 10 years. Goodwill is attributable primarily to the assembled workforce acquired, as well as benefits from the increased scale of the Company as a result of the acquisition. The goodwill from the acquisition is deductible for income tax purposes. On February 1, 2025, the Company acquired Illinois-based Haiges Machinery, Inc. for total consideration of $2.0 million in cash. The Company is in the process of determining the respective fair values of the assets acquired and liabilities assumed. The amounts for these items are subject to change as additional information to assist in determining their respective fair values as of the closing date is obtained during the post-closing measurement period of up to one year.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Note (5) - Earnings Per Share: For the six months ended For the three months ended 2024 2023 2024 2023 Net income $ 4,360 $ 2,623 $ 1,129 $ 1,341 Less: distributed and undistributed income allocated to unvested restricted common stock 617 336 160 172 Net income allocated to EVI Industries, Inc. shareholders $ 3,743 $ 2,287 $ 969 $ 1,169 Weighted average shares outstanding used in basic earnings per share 12,712 12,621 12,739 12,659 Dilutive common share equivalents 412 624 443 614 Weighted average shares outstanding used in diluted earnings per share 13,124 13,245 13,182 13,273 Basic earnings per share $ 0.29 $ 0.18 $ 0.08 $ 0.09 Diluted earnings per share $ 0.29 $ 0.17 $ 0.07 $ 0.09 During the six and three months ended December 31, 2024, other than 703,109 and 602,995 shares, respectively, of common stock subject to unvested restricted stock awards or restricted stock units, there were no potentially dilutive securities outstanding. During the six and three months ended December 31, 2023, other than 287,338 and 355,964 shares, respectively, of common stock subject to unvested restricted stock awards or restricted stock units, there were no potentially dilutive securities outstanding.

Debt

Debt	6 Months Ended
	Dec. 31, 2024
Debt [Abstract]
Debt	Note (6) – Debt: December 31, June 30, Revolving credit facility $ 28,000 $ 13,000 Less: unamortized discount and deferred financing costs (80 ) (97 ) Total long-term debt, net $ 27,920 $ 12,903 The Company is party, as borrower, to a syndicated credit agreement (the “Credit Agreement”) which allows for borrowings in the maximum aggregate principal amount of up to $100 million, with an accordion feature to increase the revolving credit facility by up to $40 million for a total of $140 million. A portion of the revolving credit facility is available for swingline loans of up to a sublimit of $5 million and for the issuance of standby letters of credit of up to a sublimit of $10 million. Pursuant to the terms of the Credit Agreement, in connection with the discontinuation of the Bloomberg Short-Term Bank Yield Index rate (the “BSBY rate”), during October 2024, the BSBY rate was replaced as the reference rate under the Credit Agreement by the Secured Overnight Financing Rate (“SOFR”) plus a SOFR adjustment ranging from a minimum of 0.11% to a maximum of 0.43%. As a result, borrowings (other than swingline loans) under the Credit Agreement now bear interest, at a rate, at the Company’s election at the time of borrowing, equal to (a) SOFR plus 0.11% to 0.43%, plus an additional adjustment margin that ranges between 1.25% and 1.75% depending on the Company’s consolidated leverage ratio, which is a ratio of consolidated funded indebtedness to consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) (the “Consolidated Leverage Ratio”) or (b) the highest of (i) prime, (ii) the federal funds rate plus 50 basis points, and (iii) SOFR plus 100 basis points (such highest rate, the “Base Rate”), plus a margin that ranges between 0.25% and 0.75% depending on the Consolidated Leverage Ratio. Swingline loans generally bear interest at the Base Rate plus a margin that ranges between 0.25% and 0.75% depending on the Consolidated Leverage Ratio. The maturity date of the Credit Agreement is May 6, 2027. As of December 31, 2024, the Company had approximately $28.0 million of outstanding borrowings under the Credit Agreement, which accrued interest at a weighted average rate of 5.88%. The Credit Agreement contains certain covenants, including financial covenants requiring the Company to comply with maximum leverage ratios and minimum interest coverage ratios. The Credit Agreement also contains other provisions which may restrict the Company’s ability to, among other things, dispose of or acquire assets or businesses, incur additional indebtedness, make certain investments and capital expenditures, pay dividends, repurchase shares and enter into transactions with affiliates. At December 31, 2024, the Company was in compliance with its covenants under the Credit Agreement and $58.4 million was available to borrow under the revolving credit facility. The obligations of the Company under the Credit Agreement are secured by substantially all of the assets of the Company and certain of its subsidiaries, and are guaranteed, jointly and severally, by certain of the Company’s subsidiaries. The carrying value of the Company’s long-term debt reported in the condensed consolidated balance sheets herein approximates its fair value since it bears interest at variable rates approximating market rates.

Leases

Leases	6 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	Note (7) - Leases: Company as Lessee As of December 31, 2024, the Company had 34 facilities, consisting of warehouse facilities and administrative offices, financed under operating leases with lease term expirations between 2025 and 2030. Operating lease cost consists of monthly rental payments under the terms of the Company’s lease agreements recognized on a straight-line basis. Short-term lease costs were not material during the six or three months ended December 31, 2024 or 2023. The following table provides details of the Company’s future minimum lease payments under operating lease liabilities recorded on the Company’s condensed consolidated balance sheet as of December 31, 2024. The table below does not include commitments that are contingent on events or other factors that are currently uncertain or unknown. Fiscal years ending June 30, Total Operating (in thousands) 2025 (remainder of) $ 1,908 2026 3,452 2027 2,114 2028 1,086 2029 374 Thereafter 778 Total minimum lease payments 9,712 Less: amounts representing interest 642 Present value of minimum lease payments 9,070 Less: current portion 3,426 Long-term portion $ 5,644 The table below presents additional information related to the Company’s operating leases (in thousands): Six months ended December 31, Three months ended December 31, 2024 2023 2024 2023 Operating lease cost Operating lease cost (1) $ 1,897 $ 2,036 $ 941 $ 1,035 Variable lease cost (2) 2,488 2,218 705 1,143 Total lease cost $ 4,385 $ 4,254 $ 1,646 $ 2,178 (1) Expenses are classified as selling, general and administrative expenses in the Company’s condensed consolidated statements of operations. (2) Certain of the Company’s subsidiaries lease space at locations where (i) they install laundry equipment and customers pay for the use of equipment and (ii) the leased space is paid for as part of a revenue sharing arrangement. These expenses are classified within cost of sales in the Company’s condensed consolidated statements of operations. The table below presents lease-related terms and discount rates as of December 31, 2024: December 31, 2024 Weighted average remaining lease terms Operating leases 3.3 years Weighted average discount rate Operating leases 3.65 % The table below presents supplemental cash flow information related to the Company’s long-term operating lease liabilities for the six months ended December 31, 2024 and 2023 (in thousands): Six months ended December 31, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: $ 1,897 $ 2,036 Operating lease right-of-use assets obtained in exchange for operating lease liabilities: $ 1,781 $ 3,095 Company as Lessor The Company derives a portion of its revenue from equipment leasing arrangements. Such arrangements provide for monthly payments covering the equipment provided, maintenance, and interest. These arrangements meet the criteria to be accounted for as sales type leases. Accordingly, revenue from the provision of the equipment is recognized upon delivery of the equipment and its acceptance by the customer. Upon the recognition of such revenue, an asset is established for the investment in sales type leases. Maintenance revenue and interest are recognized monthly over the lease term. The future minimum lease payments receivable for sales type leases are as follows (in thousands): Fiscal years ending June 30, Total Minimum Amortization Net Investment 2025 (remainder of) $ 2,723 $ 1,769 $ 954 2026 4,538 2,942 1,596 2027 3,603 2,191 1,412 2028 2,571 1,413 1,158 2029 1,634 789 845 Thereafter 1,811 869 942 $ 6,907 * * Excludes residual values of $2.8 million. The total net investments in sales type leases, including stated residual values, was $9.7 million as of both December 31, 2024 and June 30, 2024. The current portion of $1.6 million and $1.7 million is included in other current assets in the condensed consolidated balance sheets as of December 31, 2024 and June 30, 2024, respectively, and the long term portion of $8.1 million and $8.0 million is included in other assets in the condensed consolidated balance sheets as of December 31, 2024 and June 30, 2024, respectively.

Income Taxes

Income Taxes	6 Months Ended
	Dec. 31, 2024
Income Taxes [Abstract]
Income Taxes	Note (8) - Income Taxes: The Company’s effective tax rate was 30.0% and 34.4% for the six and three-month periods ended December 31, 2024, respectively, and 34.0% and 37.0% for the six and three-month periods ended December 31, 2023, respectively. The decreases in the effective tax rate are attributable to a decrease in the net impact of permanent book-tax differences resulting primarily from nondeductible compensation. As of December 31, 2024 and June 30, 2024, the Company had net deferred tax liabilities of approximately $5.5 million. Consistent with the guidance of the FASB regarding accounting for income taxes, the Company regularly estimates its ability to recover deferred tax assets and establishes a valuation allowance against deferred tax assets to reduce the balance to amounts expected to be recoverable. This evaluation includes the consideration of several factors, including an estimate of the likelihood of generating sufficient taxable income in future periods over which temporary differences reverse, the expected reversal of deferred tax liabilities, past and projected taxable income, and available tax planning strategies. As of December 31, 2024, management believed that it was more-likely-than-not that the results of future operations will generate sufficient taxable income to realize the amount of the Company’s deferred tax assets over the periods during which temporary differences reverse. The Company follows ASC Topic 740-10-25, “Accounting for Uncertainty in Income Taxes” (“ASC 740”). ASC 740 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The Company’s accounting for income taxes in accordance with this standard did not result in a material adjustment to the Company’s provision for income taxes during the three or six months ended December 31, 2024 or 2023. On August 16, 2022, the Inflation Reduction Act of 2022 (the “IR Act”) was signed into federal law. The IR Act includes the largest-ever U.S. investment committed to combat climate change, allocating $369 billion to energy security and clean energy programs over 10 years, including provisions incentivizing manufacturing of clean energy equipment. Starting on January 1, 2023, the IR Act imposed a 15% alternative minimum tax (AMT) on corporations with book income in excess of $1 billion and a 1% federal excise tax on certain stock repurchases. The Company is not expected to be subject to the new AMT requirements, and the 1% federal excise tax imposed by the IR Act is not expected to have a significant impact on the Company’s financial statements. As of December 31, 2024, the Company was subject to potential federal and state tax examinations for the tax years including and subsequent to 2020.

Equity Plans and Dividends

Equity Plans and Dividends	6 Months Ended
	Dec. 31, 2024
Equity Plans and Dividends [Abstract]
Equity Plans and Dividends	Note (9) – Equity Plans and Dividends: Equity Incentive Plan In November 2015, the Company’s stockholders approved the Company’s 2015 Equity Incentive Plan (the “Plan”). During December 2020, the Company’s stockholders approved an amendment to the Plan to increase the number of shares of the Company’s common stock authorized for issuance pursuant to awards granted under the Plan to 3,000,000 shares. During December 2024, the Company’s stockholders approved an amendment to the Plan to, among other things, further increase the number of shares of the Company’s common stock authorized for issuance pursuant to awards granted under the Plan to 3,500,000 shares. The fair value of awards granted under the Plan is expensed on a straight-line basis over the vesting period of the awards. Stock compensation expense is included in selling, general and administrative expenses in the Company’s condensed consolidated statements of operations. During the six months ended December 31, 2024, there were 263,974 restricted stock awards and 100,449 restricted stock units granted under the Plan. During the three months ended December 31, 2024, there were 75,605 restricted stock units granted under the Plan. No no For the six and three months ended December 31, 2024, non-cash stock compensation expense related to awards granted under the Plan totaled $2.3 million and $1.2 million, respectively. For the six and three months ended December 31, 2023, non-cash stock compensation expense related to awards granted under the Plan totaled $2.9 million and $1.1 million, respectively. Included within the non-cash stock compensation expense for the six months ended December 31, 2023 is a $1.2 million expense related to the acceleration of the vesting of 120,851 restricted stock awards and 30,000 restricted stock units, in each case, pursuant to the terms of the applicable award agreement. As of December 31, 2024, the Company had $24.0 million and $11.3 million of total unrecognized compensation expense related to restricted stock awards and restricted stock units, respectively, granted under the Plan, which is expected to be recognized over the weighted-average period of 12.3 years and 9.61 years, respectively. The following is a summary of non-vested restricted stock activity as of, and for the six months ended, December 31, 2024: Restricted Stock Awards Restricted Stock Units Shares Weighted- Shares Weighted- Non-vested awards or units outstanding at June 30, 2024 1,295,824 $ 21.06 548,524 $ 24.20 Granted 263,974 16.10 100,449 18.45 Vested (73,227 ) 24.17 (29,235 ) 26.12 Forfeited — — (2,016 ) 12.14 Non-vested awards or units outstanding at December 31, 2024 1,486,571 $ 20.03 617,722 $ 23.21 Employee Stock Purchase Plan During 2017, the Company’s stockholders approved the Company’s 2017 Employee Stock Purchase Plan (the “ESPP”). Subject to the terms and conditions thereof, the ESPP allows eligible employees the opportunity to purchase shares of the Company’s common stock at a 5% discount. The ESPP provides for six-month offering periods ending on December 31 and June 30 of each year. During the six and three months ended December 31, 2024, 3,645 shares of common stock were issued under the ESPP for which the Company received net proceeds of $56,000. During the six and three months ended December 31, 2023, 2,636 shares of common stock were issued under the ESPP for which the Company received net proceeds of $63,000. Dividends The declaration and payment of cash dividends on the Company’s common stock is determined by the Company’s Board of Directors based on the Company’s financial condition and results, including, but not limited to, cash flow generated by operations and profitability, the Company’s prospects and liquidity needs, and other factors deemed relevant by the Company’s Board of Directors. The Company has not historically paid regular dividends on its common stock. However, the Company has from time to time paid special cash dividends on its common stock. On September 11, 2024, the Company’s Board of Directors declared a special cash dividend on the Company’s common stock of $0.31 per share (an aggregate of $4.6 million), which was paid on October 7, 2024 to stockholders of record at the close of business on September 26, 2024. The payment of dividends, if any, in the future will be in the discretion of the Company’s Board of Directors, as described above. The payment of dividends may also be subject to restrictions contained in the Company’s debt instruments. As described elsewhere in this Report, including under “Liquidity and Capital Resources” in Item 2 of this Report, the Company’s Credit Agreement contains certain covenants which may, among other things, restrict the Company’s ability to pay dividends, and any future facilities may contain similar or more stringent requirements. The Company’s management does not believe that the covenants contained in the Company’s Credit Agreement currently materially limit the Company’s ability to pay dividends or are reasonably likely to materially limit the Company’s ability to pay dividends in the future.

Transactions with Related Parti

Transactions with Related Parties	6 Months Ended
	Dec. 31, 2024
Transactions with Related Parties [Abstract]
Transactions with Related Parties	Note (10) – Transactions with Related Parties: On October 10, 2016, the Company’s wholly-owned subsidiary, Western State Design, entered into a lease agreement pursuant to which it leases 17,600 square feet of warehouse and office space from an affiliate of Dennis Mack, a director and employee of the Company, and Tom Marks, Executive Vice President, Business Development and President of the West Region of the Company. The lease had an initial term of five years and provides for two successive three On November 1, 2018, the Company’s wholly-owned subsidiary, AAdvantage Laundry Systems, entered into a lease agreement pursuant to which it leases warehouse and office space from an affiliate of Mike Zuffinetti, former Chief Executive Officer of AAdvantage. Monthly base rental payments under this lease were $26,000 initially. Pursuant to the lease agreement, on January 1, 2019, the lease expanded to cover additional warehouse space and, in connection therewith, monthly base rental payments under this lease increased to $36,000. In addition to base rent, AAdvantage is responsible under the lease for costs related to real estate taxes, utilities, maintenance, repairs and insurance. The lease had an initial term of five years and provides for two successive three-year renewal terms at the option of the Company. The Company exercised its option to renew the lease for the first three-year renewal term, which commenced in November 2023. Base rent for the first renewal term is $40,000 per month. Payments under the lease totaled approximately $240,000 and $224,000 during the six months ended December 31, 2024 and 2023, respectively, and $120,000 and $116,000 during the three months ended December 31, 2024 and 2023, respectively. On November 3, 2020, the Company’s wholly-owned subsidiary, Yankee Equipment Systems, entered into a lease agreement pursuant to which it leases a total of 12,500 square feet of warehouse and office space from an affiliate of Peter Limoncelli, President of Yankee Equipment Systems. Monthly base rental payments were $11,000 during the initial term of the lease. In addition to base rent, Yankee Equipment Systems is responsible under the lease for costs related to real estate taxes, utilities, maintenance, repairs and insurance. The lease had an initial term of three years and provides for three successive three-year renewal terms at the option of the Company. The Company exercised its option to renew this lease for the first three-year renewal term, which commenced in November 2023. Base rent for the first year of the renewal term was $12,500 per month. Base rent for the second year of the renewal term is $12,750 per month. Payments under this lease totaled approximately $76,000 and $74,000 during the six months ended December 31, 2024 and 2023, respectively, and $38,000 and $36,000 during the three months ended December 31, 2024 and 2023, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Dec. 31, 2024
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note (11) – Commitments and Contingencies The Company may from time to time become subject to, or involved in, litigation and other legal proceedings. Litigation and other legal proceedings may require the Company to incur significant expenses, including those relating to legal and other professional fees, as well as damages or other payments. Litigation and other legal proceedings are inherently uncertain, and adverse outcomes in litigation or other legal proceedings could adversely affect the Company’s financial condition, cash flows, and operating results.

Goodwill

Goodwill	6 Months Ended
	Dec. 31, 2024
Goodwill [Abstract]
Goodwill	Note (12) – Goodwill Balance at June 30, 2024 $ 75,102 Goodwill from acquisition (1) 4,267 Working capital adjustments (2) 104 Balance at December 31, 2024 $ 79,473 (1) Relates to the acquisitions of LPF and ODL, which were consummated during the six months ended December 31, 2024, as described in Note 4, “Acquisitions.” (2) Represents working capital adjustments related to the acquisitions of ALCO Washer Center and Ed Brown Distributors, each of which was consummated by the Company during the fiscal year ended June 30, 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 1,129	$ 1,341	$ 4,360	$ 2,623

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 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

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Dec. 31, 2024
Laundry Pro of Florida, Inc. (“LPF”) [Member]
Acquisitions [Line Items]
Schedule of Purchase Price Consideration	Allocation of purchase price consideration: Inventories $ 1,672 Other assets 145 Equipment and improvements 380 Intangible assets 1,470 Accounts payable and accrued expenses (16 ) Customer deposits (156 ) Total identifiable net assets 3,495 Goodwill 2,390 Total $ 5,885
O’Dell Equipment & Supply, Inc [Member]
Acquisitions [Line Items]
Schedule of Purchase Price Consideration	Allocation of purchase price consideration: Accounts receivable $ 409 Inventories 1,043 Equipment and improvements 183 Intangible assets 1,750 Accounts payable and accrued expenses (355 ) Customer deposits (307 ) Total identifiable net assets 2,723 Goodwill 1,877 Total $ 4,600

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Share	Basic and diluted earnings per share for the six and three months ended December 31, 2024 and 2023 are computed as follows (in thousands, except per share data): For the six months ended For the three months ended 2024 2023 2024 2023 Net income $ 4,360 $ 2,623 $ 1,129 $ 1,341 Less: distributed and undistributed income allocated to unvested restricted common stock 617 336 160 172 Net income allocated to EVI Industries, Inc. shareholders $ 3,743 $ 2,287 $ 969 $ 1,169 Weighted average shares outstanding used in basic earnings per share 12,712 12,621 12,739 12,659 Dilutive common share equivalents 412 624 443 614 Weighted average shares outstanding used in diluted earnings per share 13,124 13,245 13,182 13,273 Basic earnings per share $ 0.29 $ 0.18 $ 0.08 $ 0.09 Diluted earnings per share $ 0.29 $ 0.17 $ 0.07 $ 0.09

Debt (Tables)

Debt (Tables)	6 Months Ended
	Dec. 31, 2024
Debt [Abstract]
Schedule of Long-Term Debt	Long-term debt as of December 31, 2024 and June 30, 2024 are as follows (in thousands): December 31, June 30, Revolving credit facility $ 28,000 $ 13,000 Less: unamortized discount and deferred financing costs (80 ) (97 ) Total long-term debt, net $ 27,920 $ 12,903

Leases (Tables)

Leases (Tables)	6 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Maturity of Operating Lease Liabilities	The table below does not include commitments that are contingent on events or other factors that are currently uncertain or unknown. Fiscal years ending June 30, Total Operating (in thousands) 2025 (remainder of) $ 1,908 2026 3,452 2027 2,114 2028 1,086 2029 374 Thereafter 778 Total minimum lease payments 9,712 Less: amounts representing interest 642 Present value of minimum lease payments 9,070 Less: current portion 3,426 Long-term portion $ 5,644
Schedule of Operating Leases	The table below presents additional information related to the Company’s operating leases (in thousands): Six months ended December 31, Three months ended December 31, 2024 2023 2024 2023 Operating lease cost Operating lease cost (1) $ 1,897 $ 2,036 $ 941 $ 1,035 Variable lease cost (2) 2,488 2,218 705 1,143 Total lease cost $ 4,385 $ 4,254 $ 1,646 $ 2,178 (1) Expenses are classified as selling, general and administrative expenses in the Company’s condensed consolidated statements of operations. (2) Certain of the Company’s subsidiaries lease space at locations where (i) they install laundry equipment and customers pay for the use of equipment and (ii) the leased space is paid for as part of a revenue sharing arrangement. These expenses are classified within cost of sales in the Company’s condensed consolidated statements of operations. December 31, 2024 Weighted average remaining lease terms Operating leases 3.3 years Weighted average discount rate Operating leases 3.65 % Six months ended December 31, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: $ 1,897 $ 2,036 Operating lease right-of-use assets obtained in exchange for operating lease liabilities: $ 1,781 $ 3,095
Schedule of Future Minimum Lease Payments Receivable	The future minimum lease payments receivable for sales type leases are as follows (in thousands): Fiscal years ending June 30, Total Minimum Amortization Net Investment 2025 (remainder of) $ 2,723 $ 1,769 $ 954 2026 4,538 2,942 1,596 2027 3,603 2,191 1,412 2028 2,571 1,413 1,158 2029 1,634 789 845 Thereafter 1,811 869 942 $ 6,907 * * Excludes residual values of $2.8 million.

Equity Plans and Dividends (Tab

Equity Plans and Dividends (Tables)	6 Months Ended
	Dec. 31, 2024
Equity Plans and Dividends [Abstract]
Schedule of Non-vested Restricted Stock Activity	The following is a summary of non-vested restricted stock activity as of, and for the six months ended, December 31, 2024: Restricted Stock Awards Restricted Stock Units Shares Weighted- Shares Weighted- Non-vested awards or units outstanding at June 30, 2024 1,295,824 $ 21.06 548,524 $ 24.20 Granted 263,974 16.10 100,449 18.45 Vested (73,227 ) 24.17 (29,235 ) 26.12 Forfeited — — (2,016 ) 12.14 Non-vested awards or units outstanding at December 31, 2024 1,486,571 $ 20.03 617,722 $ 23.21

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Dec. 31, 2024
Goodwill [Abstract]
Schedule of Carrying Amount of Goodwill	The changes in the carrying amount of goodwill are as follows (in thousands): Balance at June 30, 2024 $ 75,102 Goodwill from acquisition (1) 4,267 Working capital adjustments (2) 104 Balance at December 31, 2024 $ 79,473 (1) Relates to the acquisitions of LPF and ODL, which were consummated during the six months ended December 31, 2024, as described in Note 4, “Acquisitions.” (2) Represents working capital adjustments related to the acquisitions of ALCO Washer Center and Ed Brown Distributors, each of which was consummated by the Company during the fiscal year ended June 30, 2024.

Acquisitions (Details)

Acquisitions (Details) - USD ($)	Feb. 01, 2025	Nov. 01, 2024	Jul. 01, 2024	Dec. 31, 2024
Acquisitions [Line Items]
Acquisition cash			$ 5,900,000
Customer-related intangible assets amortized period				10 years
Total consideration cash		$ 4,600,000
Laundry Pro of Florida, Inc. [Member]
Acquisitions [Line Items]
Intangible assets				$ 550,000
Customer-related intangible assets				920,000
O’Dell Equipment & Supply, Inc [Member]
Acquisitions [Line Items]
Intangible assets				530,000
Customer-related intangible assets				$ 1,220,000
Subsequent Event [Member]
Acquisitions [Line Items]
Total consideration	$ 2,000,000

Acquisitions - Schedule of Purc

Acquisitions - Schedule of Purchase Price Consideration (Details) - Laundry Pro of Florida, Inc. (“LPF”) [Member] $ in Thousands	Dec. 31, 2024 USD ($)
Allocation of purchase price consideration:
Inventories	$ 1,672
Other assets	145
Equipment and improvements	380
Intangible assets	1,470
Accounts payable and accrued expenses	(16)
Customer deposits	(156)
Total identifiable net assets	3,495
Goodwill	2,390
Total	$ 5,885

Acquisitions - Schedule of Pu_2

Acquisitions - Schedule of Purchase Price Consideration (Details) - O’Dell Equipment & Supply, Inc [Member] $ in Thousands	Dec. 31, 2024 USD ($)
Allocation of purchase price consideration:
Accounts receivable	$ 409
Inventories	1,043
Equipment and improvements	183
Intangible assets	1,750
Accounts payable and accrued expenses	(355)
Customer deposits	(307)
Total identifiable net assets	2,723
Goodwill	1,877
Total	$ 4,600

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Earnings Per Share [Abstract]
Number of potentially dilutive securities outstanding	602,995	355,964	703,109	287,338

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Schedule of Basic and Diluted Earnings Per Share [Abstract]
Net income	$ 1,129	$ 1,341	$ 4,360	$ 2,623
Less: distributed and undistributed income allocated to unvested restricted common stock	160	172	617	336
Net income allocated to EVI Industries, Inc. shareholders	$ 969	$ 1,169	$ 3,743	$ 2,287
Weighted average shares outstanding used in basic earnings per share	12,739	12,659	12,712	12,621
Dilutive common share equivalents	443	614	412	624
Weighted average shares outstanding used in diluted earnings per share	13,182	13,273	13,124	13,245
Basic earnings per share	$ 0.08	$ 0.09	$ 0.29	$ 0.18
Diluted earnings per share	$ 0.07	$ 0.09	$ 0.29	$ 0.17

Debt (Details)

Debt (Details) $ in Millions	6 Months Ended
	Dec. 31, 2024 USD ($)
Revolving Credit Facility [Member]
Debt [Line Items]
Aggregate principal amount (in Dollars)	$ 100
Revolving line of credit facility amount outstanding (in Dollars)	40
Available for borrow amount (in Dollars)	$ 58.4
Maturity date	May 06, 2027
Swingline Loans [Member]
Debt [Line Items]
Available for borrow amount (in Dollars)	$ 5
Standby Letters of Credit [Member]
Debt [Line Items]
Available for borrow amount (in Dollars)	10
Credit Agreement [Member]
Debt [Line Items]
Outstanding borrowings (in Dollars)	$ 28
Weighted average rate, percentage	5.88%
Maximum [Member]
Debt [Line Items]
Consolidated leverage ratio	1.75%
Bear interest percentage	0.75%
Maximum [Member] | Revolving Credit Facility [Member]
Debt [Line Items]
Revolving line of credit facility amount outstanding (in Dollars)	$ 140
Minimum [Member]
Debt [Line Items]
Consolidated leverage ratio	1.25%
Bear interest percentage	0.25%
SOFR [Member] | Maximum [Member]
Debt [Line Items]
Credit agreement rate	0.43%
SOFR [Member] | Minimum [Member]
Debt [Line Items]
Credit agreement rate	0.11%
Base Rate [Member] | Maximum [Member]
Debt [Line Items]
Consolidated leverage ratio	0.75%
Base Rate [Member] | Minimum [Member]
Debt [Line Items]
Consolidated leverage ratio	0.25%

Debt - Schedule of Long-Term De

Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Schedule of Long-Term Debt [Abstract]
Revolving credit facility	$ 28,000	$ 13,000
Less: unamortized discount and deferred financing costs	(80)	(97)
Total long-term debt, net	$ 27,920	$ 12,903

Leases (Details)

Leases (Details) - USD ($) $ in Millions	6 Months Ended
	Dec. 31, 2024	Jun. 30, 2024
Leases [Abstract]
Lease term expirations, description	lease term expirations between 2025 and 2030
Residual value	$ 2.8
Total net investment in sales type leases	9.7	$ 9.7
Current portion sales type leases	1.6	1.7
Long term portion sales type leases	$ 8.1	$ 8

Leases - Schedule of Maturity o

Leases - Schedule of Maturity of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Schedule of Maturity of Operating Lease Liabilities [Abstract]
2025 (remainder of)	$ 1,908
2026	3,452
2027	2,114
2028	1,086
2029	374
Thereafter	778
Total minimum lease payments	9,712
Less: amounts representing interest	642
Present value of minimum lease payments	9,070
Less: current portion	3,426	$ 3,110
Long-term portion	$ 5,644	$ 5,849

Leases - Schedule of Operating

Leases - Schedule of Operating Leases (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Operating lease cost
Operating lease cost	[1]	$ 941	$ 1,035	$ 1,897	$ 2,036
Variable lease cost	[2]	705	1,143	2,488	2,218
Total lease cost		$ 1,646	$ 2,178	$ 4,385	4,254
Weighted average remaining lease terms
Operating leases		3 years 3 months 18 days		3 years 3 months 18 days
Weighted average discount rate
Operating leases		3.65%		3.65%
Cash paid for amounts included in the measurement of lease liabilities:				$ 1,897	2,036
Operating lease right-of-use assets obtained in exchange for operating lease liabilities:				$ 1,781	$ 3,095
[1]Expenses are classified as selling, general and administrative expenses in the Company’s condensed consolidated statements of operations.[2]Certain of the Company’s subsidiaries lease space at locations where (i) they install laundry equipment and customers pay for the use of equipment and (ii) the leased space is paid for as part of a revenue sharing arrangement. These expenses are classified within cost of sales in the Company’s condensed consolidated statements of operations.

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments Receivable (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Total Minimum Lease Payments to be Received [Member]
Schedule of Future Minimum Lease Payments Receivable [Line Items]
2025 (remainder of)	$ 2,723
2026	4,538
2027	3,603
2028	2,571
2029	1,634
Thereafter	1,811
Amortization of Unearned Income [Member]
Schedule of Future Minimum Lease Payments Receivable [Line Items]
2025 (remainder of)	1,769
2026	2,942
2027	2,191
2028	1,413
2029	789
Thereafter	869
Net Investment in Sales Type Leases [Member]
Schedule of Future Minimum Lease Payments Receivable [Line Items]
2025 (remainder of)	954
2026	1,596
2027	1,412
2028	1,158
2029	845
Thereafter	942
Future minimum lease payments receivable	$ 6,907	[1]
[1]Excludes residual values of $2.8 million.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions			3 Months Ended			6 Months Ended
	Jan. 01, 2023	Aug. 16, 2022	Dec. 31, 2024	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2024
Income Taxes [Abstract]
Effective Income Tax Rate Reconciliation, Tax Settlement, State and Local, Percent			34.40%		37%	30%	34%
Net of deferred tax liabilities (in Dollars)			$ 5.5			$ 5.5		$ 5.5
Investment committed (in Dollars)		$ 369,000
Investment committed team		10 years
Percentage of alternative minimum tax	15%
Income excess amount (in Dollars)	$ 1,000
Federal excise tax	1%			1%

Equity Plans and Dividends (Det

Equity Plans and Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended		6 Months Ended
	Sep. 11, 2024	Dec. 31, 2020	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Equity Plans and Dividends [Line Items]
Number of shares authorized under 2015 Equity Incentive Plan		3,000,000
Number of shares granted		3,500,000
Non-cash share-based compensation expense (in Dollars)			$ 1,200	$ 1,100	$ 2,300	$ 2,900
Additional expense (in Dollars)						$ 1,200
Common stock discount percentage					5%
Issuance of shares under employee stock plan					3,645	2,636
Net proceeds received (in Dollars)			$ 56	$ 63	$ 56	$ 63
Cash dividend per share (in Dollars per share)	$ 0.31
Aggregate common stock (in Dollars)	$ 4,600
Restricted Stock Awards [Member]
Equity Plans and Dividends [Line Items]
Number of shares granted
Number of stock Forfeited
Number of shares acceleration of vesting						120,851
Unrecognized restricted stock (in Dollars)			$ 24,000		$ 24,000
Weighted-average period					12 years 3 months 18 days
Restricted Stock Units (RSUs) [Member]
Equity Plans and Dividends [Line Items]
Number of shares granted			75,605	79,218
Number of stock Forfeited			1,911	7,952	2,016	20,485
Number of shares acceleration of vesting						30,000
Unrecognized restricted stock (in Dollars)			$ 11,300		$ 11,300
Weighted-average period					9 years 7 months 9 days
Equity Incentive Plan [Member] | Restricted Stock Awards [Member]
Equity Plans and Dividends [Line Items]
Number of shares granted					263,974	175,801
Equity Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member]
Equity Plans and Dividends [Line Items]
Number of shares granted					100,449

Equity Plans and Dividends - Sc

Equity Plans and Dividends - Schedule of Non-vested Restricted Stock Activity (Details) - $ / shares	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Restricted Stock Awards [Member]
Schedule of Non-vested Restricted Stock Activity [Line Items]
Non-vested awards or units outstanding, Beginning balance			1,295,824
Weighted-Average Grant Date Fair Value, Beginning balance			$ 21.06
Restricted Stock Awards, Granted			263,974
Restricted Stock Units, Granted			$ 16.1
Restricted Stock Awards, Vested			(73,227)
Restricted Stock Units, Vested			$ 24.17
Restricted Stock Awards, Forfeited
Restricted Stock Units, Forfeited
Non-vested awards or units outstanding, Ending balance	1,486,571		1,486,571
Weighted-Average Grant Date Fair Value, Ending balance	$ 20.03		$ 20.03
Restricted Stock Units [Member]
Schedule of Non-vested Restricted Stock Activity [Line Items]
Non-vested awards or units outstanding, Beginning balance			548,524
Weighted-Average Grant Date Fair Value, Beginning balance			$ 24.2
Restricted Stock Awards, Granted			100,449
Restricted Stock Units, Granted			$ 18.45
Restricted Stock Awards, Vested			(29,235)
Restricted Stock Units, Vested			$ 26.12
Restricted Stock Awards, Forfeited	(1,911)	(7,952)	(2,016)	(20,485)
Restricted Stock Units, Forfeited			$ 12.14
Non-vested awards or units outstanding, Ending balance	617,722		617,722
Weighted-Average Grant Date Fair Value, Ending balance	$ 23.21		$ 23.21

Transactions with Related Par_2

Transactions with Related Parties (Details)						3 Months Ended		6 Months Ended
	Nov. 03, 2020 USD ($) ft²	Jan. 01, 2019 USD ($)	Nov. 01, 2018 USD ($)	Oct. 31, 2017 USD ($)	Oct. 10, 2016 USD ($) ft²	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Transactions with Related Parties [Line Items]
Initial term					5 years
Dennis Mack and Tom Marks [Member]
Transactions with Related Parties [Line Items]
Lease agreement (in Square Feet) | ft²					17,600
Renewal term					3 years
Monthly base rental payment during initial terms					$ 12,000
Lease totaled						$ 61,000	$ 57,000	$ 118,000	$ 114,000
Dennis Mack and Tom Marks [Member] | First Renewal Term [Member]
Transactions with Related Parties [Line Items]
Base rent					19,000
Dennis Mack and Tom Marks [Member] | Second Renewal Term [Member]
Transactions with Related Parties [Line Items]
Base rent					$ 21,000
Mike Zuffinetti [Member]
Transactions with Related Parties [Line Items]
Monthly base rental payment during initial terms			$ 26,000
Lease totaled		$ 36,000				120,000	116,000	240,000	224,000
Matt Stephenson [Member]
Transactions with Related Parties [Line Items]
Base rent				$ 40,000
Peter Limoncelli [Member]
Transactions with Related Parties [Line Items]
Lease agreement (in Square Feet) | ft²	12,500
Monthly base rental payment during initial terms	$ 11,000
Lease totaled						$ 38,000	$ 36,000	$ 76,000	$ 74,000
Peter Limoncelli [Member] | First Renewal Term [Member]
Transactions with Related Parties [Line Items]
Base rent	12,500
Peter Limoncelli [Member] | Second Renewal Term [Member]
Transactions with Related Parties [Line Items]
Base rent	$ 12,750

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Dec. 31, 2024	Jun. 30, 2024
Commitments and Contingencies [Abstract]
Total outstanding performance bonds	$ 1.2	$ 1.2

Goodwill - Schedule of Carrying

Goodwill - Schedule of Carrying Amount of Goodwill (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2024 USD ($)
Schedule of Carrying Amount of Goodwill [Abstract]
Balance, beginning	$ 75,102
Goodwill from acquisition	4,267	[1]
Working capital adjustments	104	[2]
Balance, ending	$ 79,473
[1]Relates to the acquisitions of LPF and ODL, which were consummated during the six months ended December 31, 2024, as described in Note 4, “Acquisitions.”[2]Represents working capital adjustments related to the acquisitions of ALCO Washer Center and Ed Brown Distributors, each of which was consummated by the Company during the fiscal year ended June 30, 2024.