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v3.22.2.2

Balance Sheet Components (Tables) | 12 Months Ended
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Jun. 30, 2022
Balance Sheet Related Disclosures [Abstract] |
Schedule of Property, Equipment and Software, Net | Property, equipment and software, net consisted of the following (in thousands):
|  |  |  | June 30, 2022 |  | June 30, 2021
Internally developed software |  |  |  | $ | 200,621 |  |  | $ | 68,197 |
Leasehold improvements |  |  |  | 16,169 |  |  | 15,212 |
Computer equipment |  |  |  | 10,751 |  |  | 6,707 |
Furniture and equipment |  |  |  | 4,279 |  |  | 5,284 |
Total Property, equipment and software, at cost |  |  |  | $ | 231,820 |  |  | $ | 95,400 |
Less: Accumulated depreciation and amortization |  |  |  | (60,338) |  |  | (32,901) |
Total Property, equipment and software, net |  |  |  | $ | 171,482 |  |  | $ | 62,499 |
Schedule of Goodwill | The changes in the carrying amount of goodwill during the years ended June 30, 2022 and 2021 were as follows (in thousands):
Balance as of June 30, 2020 |  | $ | 1,255 |
Additions |  | 508,581 |
Effect of foreign currency translation |  | 6,679 |
Balance as of June 30, 2021 |  | $ | 516,515 |
Additions |  | 33,318 |
Effect of foreign currency translation |  | (10,299) |
Balance as of June 30, 2022 |  | $ | 539,534 |
Schedule of Finite-Lived Intangible Assets | Intangible assets consisted of the following (in thousands):
|  | June 30, 2022
|  | Gross |  | Accumulated Amortization |  | Net |  | Weighted Average Remaining Useful Life (in years)
Merchant relationships |  | $ | 38,371 |  |  | $ | (10,281) |  |  | $ | 28,090 |  |  | 3.6
Developed technology |  | 39,782 |  |  | (15,882) |  |  | 23,900 |  |  | 1.9
Assembled workforce |  | 12,490 |  |  | (1,664) |  |  | 10,826 |  |  | 1.3
Trademarks and domains, definite |  | 1,507 |  |  | (802) |  |  | 705 |  |  | 2.4
Trademarks and domains, indefinite |  | 2,146 |  |  | — |  |  | 2,146 |  |  | Indefinite
Other intangibles |  | 350 |  |  | — |  |  | 350 |  |  | Indefinite
Total intangible assets |  | $ | 94,646 |  |  | $ | (28,629) |  |  | $ | 66,017 |  |  |
In connection with the Fast asset acquisition, we also recorded a $12.9 million intangible asset representing the option to purchase developed technology as of June 30, 2022. The asset will not be amortized until the purchase is complete and the asset is placed into service. Refer to Note 5. Acquisitions for a description of the acquisition and assets acquired.
|  | June 30, 2021
|  | Gross |  | Accumulated Amortization |  | Net |  | Weighted Average Remaining Useful Life (in years)
Merchant relationships |  | $ | 38,951 |  |  | $ | (2,192) |  |  | $ | 36,759 |  |  | 4.5
Developed technology |  | 30,176 |  |  | (2,930) |  |  | 27,246 |  |  | 2.8
Trademarks and domains (1) |  | 3,769 |  |  | (194) |  |  | 3,575 |  |  | 3.3
Other intangibles |  | 350 |  |  | — |  |  | 350 |  |  | Indefinite
Total intangible assets |  | $ | 73,246 |  |  | $ | (5,316) |  |  | $ | 67,930 |  |  |
(1)As of June 30, 2021, trademarks and domains included both definite and indefinite intangible assets.
Schedule of Indefinite-Lived Intangible Assets | Intangible assets consisted of the following (in thousands):
|  | June 30, 2022
|  | Gross |  | Accumulated Amortization |  | Net |  | Weighted Average Remaining Useful Life (in years)
Merchant relationships |  | $ | 38,371 |  |  | $ | (10,281) |  |  | $ | 28,090 |  |  | 3.6
Developed technology |  | 39,782 |  |  | (15,882) |  |  | 23,900 |  |  | 1.9
Assembled workforce |  | 12,490 |  |  | (1,664) |  |  | 10,826 |  |  | 1.3
Trademarks and domains, definite |  | 1,507 |  |  | (802) |  |  | 705 |  |  | 2.4
Trademarks and domains, indefinite |  | 2,146 |  |  | — |  |  | 2,146 |  |  | Indefinite
Other intangibles |  | 350 |  |  | — |  |  | 350 |  |  | Indefinite
Total intangible assets |  | $ | 94,646 |  |  | $ | (28,629) |  |  | $ | 66,017 |  |  |
In connection with the Fast asset acquisition, we also recorded a $12.9 million intangible asset representing the option to purchase developed technology as of June 30, 2022. The asset will not be amortized until the purchase is complete and the asset is placed into service. Refer to Note 5. Acquisitions for a description of the acquisition and assets acquired.
|  | June 30, 2021
|  | Gross |  | Accumulated Amortization |  | Net |  | Weighted Average Remaining Useful Life (in years)
Merchant relationships |  | $ | 38,951 |  |  | $ | (2,192) |  |  | $ | 36,759 |  |  | 4.5
Developed technology |  | 30,176 |  |  | (2,930) |  |  | 27,246 |  |  | 2.8
Trademarks and domains (1) |  | 3,769 |  |  | (194) |  |  | 3,575 |  |  | 3.3
Other intangibles |  | 350 |  |  | — |  |  | 350 |  |  | Indefinite
Total intangible assets |  | $ | 73,246 |  |  | $ | (5,316) |  |  | $ | 67,930 |  |  |
(1)As of June 30, 2021, trademarks and domains included both definite and indefinite intangible assets.
Schedule of Intangible Assets, Future Amortization Expense | The expected future amortization expense of these intangible assets as of June 30, 2022 is as follows (in thousands):
2023 |  | $ | 29,595 |
2024 |  | 21,686 |
2025 |  | 7,232 |
2026 |  | 4,993 |
2027 and thereafter |  | 15 |
Total amortization expense |  | $ | 63,521 |
Schedule of Other Assets | Other assets consisted of the following (in thousands):
|  | June 30, 2022 |  | June 30, 2021
Operating lease right-of-use assets |  | $ | 50,671 |  |  | $ | 57,828 |
Derivative instruments |  | 49,983 |  |  | 2,880 |
Equity securities, at cost |  | 43,172 |  |  | 11,278 |
Prepaid expenses |  | 37,497 |  |  | 21,069 |
Prepaid payroll taxes for stock-based compensation |  | 35,172 |  |  | 111,278 |
Processing reserves |  | 26,483 |  |  | 14,042 |
Other receivables |  | 17,221 |  |  | 26,423 |
Other assets |  | 21,368 |  |  | 29,881 |
Total other assets |  | $ | 281,567 |  |  | $ | 274,679 |
Schedule of Accrued Expenses and Other Liabilities | Accrued expenses and other liabilities consisted of the following (in thousands)
|  | June 30, 2022 |  | June 30, 2021
Accrued expenses |  | $ | 67,343 |  |  | $ | 47,674 |
Operating lease liability |  | 65,713 |  |  | 74,952 |
Collateral held for derivative instruments |  | 55,779 |  |  | — |
Contingent consideration liability |  | 23,348 |  |  | 153,447 |
Commercial agreement liability |  | — |  |  | 25,357 |
Other liabilities |  | 25,415 |  |  | 22,147 |
Total accrued expenses and other liabilities |  | $ | 237,598 |  |  | $ | 323,577 |

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