XML 51 R35.htm IDEA: XBRL DOCUMENT v3.23.2
Balance Sheet Components (Tables)
12 Months Ended
Jun. 30, 2023
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, 2023June 30, 2022
Internally developed software$377,301 $200,621 
Leasehold improvements20,214 16,169 
Computer equipment10,187 10,751 
Furniture and equipment6,503 4,279 
Total property, equipment and software, at cost$414,205 $231,820 
Less: Accumulated depreciation and amortization(124,070)(60,338)
Total property, equipment and software, net$290,135 $171,482 
Schedule of Goodwill
The changes in the carrying amount of goodwill during the years ended June 30, 2023 and 2022 were as follows (in thousands):

Balance as of June 30, 2021$516,515 
Additions (1)
33,318 
Adjustments (2)
(10,299)
Balance as of June 30, 2022$539,534 
Additions (1)
9,443 
Adjustments (2)
(6,406)
Balance as of June 30, 2023$542,571 
(1)Refer to Note 5. Acquisitions for a description of additions to goodwill during the years ended June 30, 2023 and 2022. 
(2)Adjustments to goodwill during the years ended June 30, 2023 and 2022 primarily pertained to foreign currency translation adjustments.
Schedule of Finite-Lived Intangible Assets
Intangible assets consisted of the following (in thousands):

June 30, 2023
GrossAccumulated AmortizationNetWeighted Average Remaining Useful Life (in years)
Merchant relationships$38,129 $(27,637)$10,492 0.6
Developed technology39,626 (30,653)8,973 0.6
Assembled workforce12,490 (9,983)2,507 0.3
Trademarks and domains, definite1,481 (990)491 1.7
Trademarks, licenses and domains, indefinite 11,621 — 11,621 Indefinite
Other intangibles350 — 350 Indefinite
Total intangible assets$103,697 $(69,263)$34,434 

June 30, 2022
GrossAccumulated AmortizationNetWeighted Average Remaining Useful Life (in years)
Merchant relationships$38,371 $(10,281)$28,090 3.6
Developed technology39,782 (15,882)23,900 1.9
Assembled workforce12,490 (1,664)10,826 1.3
Trademarks and domains, definite1,507 (802)705 2.4
Trademarks and domains, indefinite2,146 — 2,146 Indefinite
Other intangibles350 — 350 Indefinite
Total intangible assets$94,646 $(28,629)$66,017 
Schedule of Indefinite-Lived Intangible Assets
Intangible assets consisted of the following (in thousands):

June 30, 2023
GrossAccumulated AmortizationNetWeighted Average Remaining Useful Life (in years)
Merchant relationships$38,129 $(27,637)$10,492 0.6
Developed technology39,626 (30,653)8,973 0.6
Assembled workforce12,490 (9,983)2,507 0.3
Trademarks and domains, definite1,481 (990)491 1.7
Trademarks, licenses and domains, indefinite 11,621 — 11,621 Indefinite
Other intangibles350 — 350 Indefinite
Total intangible assets$103,697 $(69,263)$34,434 

June 30, 2022
GrossAccumulated AmortizationNetWeighted Average Remaining Useful Life (in years)
Merchant relationships$38,371 $(10,281)$28,090 3.6
Developed technology39,782 (15,882)23,900 1.9
Assembled workforce12,490 (1,664)10,826 1.3
Trademarks and domains, definite1,507 (802)705 2.4
Trademarks and domains, indefinite2,146 — 2,146 Indefinite
Other intangibles350 — 350 Indefinite
Total intangible assets$94,646 $(28,629)$66,017 
Schedule of Intangible Assets, Future Amortization Expense
The expected future amortization expense of these intangible assets as of June 30, 2023 is as follows (in thousands):

2024$20,895 
20251,396 
2026157 
202715 
2028 and thereafter— 
Total amortization expense$22,463 
Schedule of Other Assets Other assets consisted of the following (in thousands):
June 30, 2023June 30, 2022
Processing reserves$60,039 $26,483 
Derivative instruments50,545 49,983 
Equity securities, at cost43,172 43,172 
Prepaid expenses35,626 37,497 
Operating lease right-of-use assets30,171 50,671 
Other assets59,061 73,761 
Total other assets$278,614 $281,567 
Schedule of Accrued Expenses and Other Liabilities
Accrued expenses and other liabilities consisted of the following (in thousands):

June 30, 2023June 30, 2022
Collateral held for derivative instruments $53,267 $55,779 
Operating lease liability52,557 65,713 
Accrued expenses50,704 67,343 
Other liabilities24,355 48,763 
Total accrued expenses and other liabilities$180,883 $237,598