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Balance Sheet Components (Tables) | 6 Months Ended
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Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract] |
Schedule of Property, Equipment and Software, Net | Property, equipment and software, net consisted of the following (in thousands):
|  |  |  | December 31, 2024 |  | June 30, 2024
Internally developed software |  |  |  | $ | 804,651 |  |  | $ | 630,129 |
Leasehold improvements |  |  |  | 21,085 |  |  | 21,023 |
Computer equipment |  |  |  | 10,373 |  |  | 9,827 |
Furniture and equipment |  |  |  | 9,001 |  |  | 8,913 |
Total property, equipment and software, at cost |  |  |  | $ | 845,111 |  |  | $ | 669,892 |
Less: Accumulated depreciation and amortization |  |  |  | (338,777) |  |  | (242,206) |
Total property, equipment and software, net |  |  |  | $ | 506,334 |  |  | $ | 427,686 |
Schedule of Goodwill | The changes in the carrying amount of goodwill during the six months ended December 31, 2024 were as follows (in thousands):
Balance as of June 30, 2024 |  | $ | 533,439 |
Adjustments (1) |  | (11,740) |
Balance as of December 31, 2024 |  | $ | 521,699 |
(1)Adjustments to goodwill during the six months ended December 31, 2024 primarily pertained to foreign currency translation adjustments.
Schedule of Finite-Lived Intangible Assets | Intangible assets consisted of the following (in thousands):
|  | December 31, 2024
|  | Gross |  | Accumulated Amortization |  | Net |  | Weighted Average Remaining Useful Life (in years)
Merchant relationships |  | $ | 37,417 |  |  | $ | (37,417) |  |  | $ | — |  |  | 0.0
Developed technology |  | 39,167 |  |  | (39,064) |  |  | 103 |  |  | 0.1
Assembled workforce |  | 12,490 |  |  | (12,490) |  |  | — |  |  | 0.0
Trademarks and domains, definite |  | 1,404 |  |  | (1,223) |  |  | 181 |  |  | 0.7
Trademarks, licenses and domains, indefinite |  | 11,559 |  |  | — |  |  | 11,559 |  |  | Indefinite
Other intangibles |  | 350 |  |  | — |  |  | 350 |  |  | Indefinite
Total intangible assets |  | $ | 102,387 |  |  | $ | (90,194) |  |  | $ | 12,193 |  |  |
|  | June 30, 2024
|  | Gross |  | Accumulated Amortization |  | Net |  | Weighted Average Remaining Useful Life (in years)
Merchant relationships |  | $ | 37,847 |  |  | $ | (36,741) |  |  | $ | 1,106 |  |  | 0.1
Developed technology |  | 39,444 |  |  | (39,311) |  |  | 133 |  |  | 0.0
Assembled workforce |  | 12,490 |  |  | (12,490) |  |  | — |  |  | 0.0
Trademarks and domains, definite |  | 1,450 |  |  | (1,165) |  |  | 285 |  |  | 1.0
Trademarks, licenses and domains, indefinite |  | 11,628 |  |  | — |  |  | 11,628 |  |  | Indefinite
Other intangibles |  | 350 |  |  | — |  |  | 350 |  |  | Indefinite
Total intangible assets |  | $ | 103,209 |  |  | $ | (89,707) |  |  | $ | 13,502 |  |  |
Schedule of Indefinite-Lived Intangible Assets | Intangible assets consisted of the following (in thousands):
|  | December 31, 2024
|  | Gross |  | Accumulated Amortization |  | Net |  | Weighted Average Remaining Useful Life (in years)
Merchant relationships |  | $ | 37,417 |  |  | $ | (37,417) |  |  | $ | — |  |  | 0.0
Developed technology |  | 39,167 |  |  | (39,064) |  |  | 103 |  |  | 0.1
Assembled workforce |  | 12,490 |  |  | (12,490) |  |  | — |  |  | 0.0
Trademarks and domains, definite |  | 1,404 |  |  | (1,223) |  |  | 181 |  |  | 0.7
Trademarks, licenses and domains, indefinite |  | 11,559 |  |  | — |  |  | 11,559 |  |  | Indefinite
Other intangibles |  | 350 |  |  | — |  |  | 350 |  |  | Indefinite
Total intangible assets |  | $ | 102,387 |  |  | $ | (90,194) |  |  | $ | 12,193 |  |  |
|  | June 30, 2024
|  | Gross |  | Accumulated Amortization |  | Net |  | Weighted Average Remaining Useful Life (in years)
Merchant relationships |  | $ | 37,847 |  |  | $ | (36,741) |  |  | $ | 1,106 |  |  | 0.1
Developed technology |  | 39,444 |  |  | (39,311) |  |  | 133 |  |  | 0.0
Assembled workforce |  | 12,490 |  |  | (12,490) |  |  | — |  |  | 0.0
Trademarks and domains, definite |  | 1,450 |  |  | (1,165) |  |  | 285 |  |  | 1.0
Trademarks, licenses and domains, indefinite |  | 11,628 |  |  | — |  |  | 11,628 |  |  | Indefinite
Other intangibles |  | 350 |  |  | — |  |  | 350 |  |  | Indefinite
Total intangible assets |  | $ | 103,209 |  |  | $ | (89,707) |  |  | $ | 13,502 |  |  |
Schedule of Intangible Assets, Future Amortization Expense | The expected future amortization expense of these intangible assets as of December 31, 2024 is as follows, by fiscal year (in thousands):
2025 (remaining six months) |  | $ | 120 |
2026 |  | 149 |
2027 |  | 15 |
2028 |  | — |
2029 and thereafter |  | — |
Total amortization expense |  | $ | 284 |
Schedule of Other Assets | Other assets consisted of the following (in thousands):
|  | December 31, 2024 |  | June 30, 2024 |  |
Processing reserves |  | $ | 92,550 |  |  | $ | 55,754 |  |  |
Risk sharing asset |  | 44,969 |  |  | 33,884 |  |  |
Equity securities, at cost |  | 41,927 |  |  | 37,806 |  |  |
Prepaid expenses |  | 33,381 |  |  | 28,799 |  |  |
Prepaid payroll taxes for stock-based compensation |  | 23,219 |  |  | 21,395 |  |  |
Fixed term deposit |  | 22,028 |  |  | 35,203 |  |  |
Foreign deferred tax asset |  | 17,881 |  |  | 21,206 |  |  |
Operating lease right-of-use assets |  | 17,472 |  |  | 21,863 |  |  |
Other receivables |  | 13,164 |  |  | 18,263 |  |  |
Derivative instruments |  | 7,676 |  |  | 17,207 |  |  |
Other assets |  | 10,690 |  |  | 7,960 |  |  |
Total other assets |  | $ | 324,957 |  |  | $ | 299,340 |  |  |
Schedule of Accrued Expenses and Other Liabilities | Accrued expenses and other liabilities consisted of the following (in thousands):
|  | December 31, 2024 |  | June 30, 2024
Accrued expenses |  | $ | 74,200 |  |  | $ | 59,613 |
Operating lease liability |  | 32,033 |  |  | 39,493 |
Collateral held for derivative instruments |  | 8,174 |  |  | 17,643 |
Other liabilities |  | 41,161 |  |  | 30,680 |
Total accrued expenses and other liabilities |  | $ | 155,568 |  |  | $ | 147,429 |

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