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Income Taxes (Tables)

12 Months Ended

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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