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Equity Incentive Plans (Tables) | 12 Months Ended
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Jun. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity | The following table summarizes our stock option activity for the year ended June 30, 2023:
|  | Number of Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (in thousands)
Balance as of June 30, 2022 |  | 19,310,706 |  |  | $ | 15.22 |  |  | 6.94 |  |
Granted |  | 1,991,427 |  |  | 19.10 |  |  |  |  |
Exercised |  | (971,863) |  |  | 4.67 |  |  |  |  |
Forfeited, expired or cancelled |  | (1,825,132) |  |  | 33.94 |  |  |  |  |
Balance as of June 30, 2023 |  | 18,505,138 |  |  | 14.34 |  |  | 6.07 |  |
Vested and exercisable, June 30, 2023 |  | 14,758,426 |  |  | $ | 10.74 |  |  | 5.45 |  | $ | 112,834 |
Vested and exercisable, and expected to vest thereafter(1) June 30, 2023 |  | 18,321,690 |  |  | $ | 14.14 |  |  | 6.05 |  | $ | 115,791 |
(1)Options expected to vest reflect the application of an estimated forfeiture rate.
Tranche |  | Stock Price Hurdle |  | Number of Options
1 |  | $ | 65.66 |  |  | 1,000,000 |
2 |  | $ | 82.32 |  |  | 1,000,000 |
3 |  | $ | 98.98 |  |  | 1,000,000 |
4 |  | $ | 115.64 |  |  | 1,000,000 |
5 |  | $ | 132.30 |  |  | 1,000,000 |
6 |  | $ | 148.47 |  |  | 1,000,000 |
7 |  | $ | 165.13 |  |  | 1,000,000 |
8 |  | $ | 181.79 |  |  | 1,000,000 |
9 |  | $ | 247.94 |  |  | 2,250,000 |
10 |  | $ | 371.91 |  |  | 2,250,000 |
Total |  |  |  | 12,500,000 |
Schedule of Stock Options Valuation Assumptions | We used the simplified method to determine an estimate of the expected term of an employee share option.
|  | Year ended June 30,
|  | 2023 |  | 2022 |  | 2021
Volatility |  | 59% |  | 54% |  | 46%
Risk-free interest rate |  | 2.88% - 3.87% |  | 1.47% - 3.01% |  | 0.70% - 1.05%
Expected term (in years) |  | 6.04 |  | 5.56 |  | 6.35
Expected dividend yield |  | — |  | — |  | —
Schedule of Restricted Stock Unit Activity | The following table summarizes our RSU activity during the year ended June 30, 2023:
|  | Number of Shares |  | Weighted Average Grant Date Fair Value
Non-vested at June 30, 2022 |  | 21,387,592 |  |  | $ | 38.41 |
Granted |  | 19,025,716 |  |  | 21.34 |
Vested |  | (12,498,098) |  |  | 33.28 |
Forfeited, expired or cancelled |  | (6,262,014) |  |  | 36.28 |
Non-vested at June 30, 2023 |  | 21,653,196 |  |  | $ | 26.99 |
Schedule of Components and Classification of Stock-based Compensation | The following table presents the components and classification of stock-based compensation (in thousands):
|  | Year ended June 30,
|  | 2023 |  | 2022 | 2021
General and administrative |  | $ | 239,923 |  |  | $ | 248,797 |  | $ | 196,554 |
Technology and data analytics |  | 181,396 |  |  | 116,531 |  | 76,643 |
Sales and marketing |  | 25,914 |  |  | 23,224 |  | 17,092 |
Processing and servicing |  | 4,476 |  |  | 2,431 |  | 2,218 |
Total stock-based compensation in operating expenses |  | 451,709 |  |  | 390,983 |  | 292,507 |
Capitalized into property, equipment and software, net |  | 80,108 |  |  | 54,542 |  | 13,999 |
Total stock-based compensation |  | $ | 531,817 |  |  | $ | 445,525 |  | $ | 306,506 |

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