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Equity Incentive Plans (Tables)

12 Months Ended

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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