XML 59 R41.htm IDEA: XBRL DOCUMENT v3.22.2.2

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The U.S. and foreign components of income (loss) before income taxes for the years ended June 30, 2022, 2021, and 2020 are as follows (in thousands):

						Year Ended June 30,
						2022						2021						2020
U.S.						$	(780,699)					$	(330,313)					$	(112,080)
Foreign						55,868						(113,057)						(142)
Total loss before income taxes						$	(724,831)					$	(443,370)					$	(112,222)

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense (benefit) for the years ended June 30, 2022, 2021, and 2020 is summarized as follows (in thousands):

						Year Ended June 30,
						2022						2021						2020
Current
State						$	145					$	(10)					$	351
Foreign						230						(410)						436
Total current expense						$	375					$	(420)					$	787
Deferred
Federal						113						88						6
State						281						(2,570)						28
Foreign						(18,183)						559						(445)
Total deferred expense						(17,789)						(1,923)						(411)
Income tax (benefit) expense						$	(17,414)					$	(2,343)					$	376

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation of the U.S. statutory federal income tax rate to our effective tax rate for the years ended June 30, 2022, 2021, and 2020:

						Year Ended June 30,
						2022						2021						2020
U.S. statutory federal income tax rate						21.0		%				21.0		%				21.0		%
State and local income taxes, net of federal tax benefit						8.3		%				9.1		%				10.5		%
Foreign rate differential						(0.4)		%				1.5		%				—		%
Stock-based compensation						64.0		%				66.4		%				(0.4)		%
Non-deductible compensation expense						(12.4)		%				(8.4)		%				—		%
Tax benefit related to tax credits, net						15.4		%				0.5		%				—		%
Impact of change in fair value of contingent consideration						3.3		%				(5.6)		%				—		%
Change in unrecognized tax benefits						(6.2)		%				—		%				—		%
Other						0.2		%				1.6		%				(1.9)		%
Change in valuation allowance						(90.8)		%				(85.6)		%				(29.6)		%
Effective income tax rate						2.4		%				0.5		%				(0.4)		%

Schedule of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities are as follows (in thousands):

						Year Ended June 30,
						2022						2021
Net operating loss carryforwards						$	1,056,403					$	430,464
Allowance for credit losses						55,154						41,155
Stock-based compensation						51,288						51,126
Operating lease liabilities						19,840						23,914
Tax credit carryforwards						69,144						2,054
Other						7,581						4,837
Total deferred tax assets						$	1,259,410					$	553,550
Internally developed software						(47,217)						(15,214)
Purchased intangible assets						(11,386)						(18,150)
Right-of-use lease assets						(15,289)						(18,386)
Stock warrants						(7,200)						—
Other						(2,920)						(2,460)
Total deferred tax liabilities						$	(84,012)					$	(54,210)
Valuation allowance						(1,158,246)						(499,828)
Deferred tax assets (liabilities), net of valuation allowance						$	17,152					$	(488)

Schedule of Unrecognized Tax Benefits

The following table provides a reconciliation of the beginning and ending amounts of gross unrecognized tax benefits (in thousands):

						Year ended June 30,
						2022						2021						2020
Beginning balance						$	—					$	—					$	—
Gross increase for tax positions related to the current year						28,407						—						—
Gross increase for tax positions related to prior years						19,460						—						—
Ending balance						$	47,867					$	—					$	—

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 55
-Paragraph 217
-URI https://asc.fasb.org/extlink&oid=126976462&loc=d3e36027-109320

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI https://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration