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Income Taxes (Tables) | 12 Months Ended
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Jun. 30, 2023
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, 2023, 2022, and 2021 are as follows (in thousands):
|  | Year Ended June 30,
|  | 2023 |  | 2022 |  | 2021
U.S. |  | $ | (974,074) |  |  | $ | (780,699) |  |  | $ | (330,313) |
Foreign |  | (15,171) |  |  | 55,868 |  |  | (113,057) |
Total loss before income taxes |  | $ | (989,245) |  |  | $ | (724,831) |  |  | $ | (443,370) |
Schedule of Components of Income Tax Expense (Benefit) | Income tax expense (benefit) for the years ended June 30, 2023, 2022, and 2021 is summarized as follows (in thousands):
|  | Year Ended June 30,
|  | 2023 |  | 2022 |  | 2021
Current |  |  |  |  |  |
State |  | $ | 759 |  |  | $ | 145 |  |  | $ | (10) |
Foreign |  | 408 |  |  | 230 |  |  | (410) |
Total current expense |  | $ | 1,167 |  |  | $ | 375 |  |  | $ | (420) |
Deferred |  |  |  |  |  |
Federal |  | $ | 137 |  |  | $ | 113 |  |  | $ | 88 |
State |  | 249 |  |  | 281 |  |  | (2,570) |
Foreign |  | (5,453) |  |  | (18,183) |  |  | 559 |
Total deferred expense |  | (5,067) |  |  | (17,789) |  |  | (1,923) |
Income tax (benefit) expense |  | $ | (3,900) |  |  | $ | (17,414) |  |  | $ | (2,343) |
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, 2023, 2022, and 2021:
|  | Year Ended June 30,
|  | 2023 |  | 2022 |  | 2021
U.S. statutory federal income tax rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State and local income taxes, net of federal tax benefit |  | 7.7 | % |  | 8.3 | % |  | 9.1 | %
Foreign rate differential |  | 0.1 | % |  | (0.4) | % |  | 1.5 | %
Stock-based compensation |  | (14.9) | % |  | 64.0 | % |  | 66.4 | %
Non-deductible compensation expense |  | (2.2) | % |  | (12.4) | % |  | (8.4) | %
Tax benefit related to tax credits, net |  | 0.9 | % |  | 15.4 | % |  | 0.5 | %
Impact of change in fair value of contingent consideration |  | 0.2 | % |  | 3.3 | % |  | (5.6) | %
Change in unrecognized tax benefits |  | (0.4) | % |  | (6.2) | % |  | — | %
Other |  | (0.1) | % |  | 0.2 | % |  | 1.6 | %
Change in valuation allowance |  | (11.9) | % |  | (90.8) | % |  | (85.6) | %
Effective income tax rate |  | 0.4 | % |  | 2.4 | % |  | 0.5 | %
Schedule of Deferred Tax Assets and Liabilities | Significant components of deferred tax assets and liabilities are as follows (in thousands):
|  | Year Ended June 30,
|  | 2023 |  | 2022 |  |
Net operating loss carryforwards |  | $ | 1,070,325 |  |  | $ | 1,056,403 |  |  |
Allowance for credit losses |  | 65,699 |  |  | 55,154 |  |  |
Stock-based compensation |  | 45,974 |  |  | 51,288 |  |  |
Stock warrants |  | 50,097 |  |  | — |  |  |
Operating lease liabilities |  | 15,253 |  |  | 19,840 |  |  |
Purchased intangible assets |  | 315 |  |  | — |  |  |
Tax credit carryforwards |  | 74,589 |  |  | 69,144 |  |  |
Other |  | 10,338 |  |  | 7,581 |  |  |
Total deferred tax assets |  | $ | 1,332,590 |  |  | $ | 1,259,410 |  |  |
Capitalized R&E including internally developed software |  | (21,304) |  |  | (47,217) |  |  |
Purchased intangible assets |  | — |  |  | (11,386) |  |  |
Right-of-use lease assets |  | (8,751) |  |  | (15,289) |  |  |
Stock warrants |  | — |  |  | (7,200) |  |  |
Other |  | (2,670) |  |  | (2,920) |  |  |
Total deferred tax liabilities |  | $ | (32,725) |  |  | $ | (84,012) |  |  |
Valuation allowance |  | (1,280,216) |  |  | (1,158,246) |  |  |
Deferred tax assets (liabilities), net of valuation allowance |  | $ | 19,649 |  |  | $ | 17,152 |  |  |
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,
|  | 2023 |  | 2022 |  | 2021
Beginning balance |  | $ | 47,867 |  |  | $ | — |  |  | $ | — |
Gross increase for tax positions related to the current year |  | 5,828 |  |  | 28,407 |  |  | — |
Gross increase for tax positions related to prior years |  | — |  |  | 19,460 |  |  | — |
Gross decrease for tax positions related to prior years |  | (1,845) |  |  | — |  |  | — |
Ending balance |  | $ | 51,850 |  |  | $ | 47,867 |  |  | $ | — |

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