v3.25.4

Equity Incentive Plans (Tables) | 6 Months Ended
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Dec. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity | The following table summarizes our stock option activity for the six months ended December 31, 2025:
|  | Number of Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (in thousands)
Balance as of June 30, 2025 |  | 12,955,978 |  |  | $ | 19.12 |  |  | 5.18 |  |
Exercised |  | (1,966,068) |  |  | 16.45 |  |  |  |  |
Forfeited, expired or canceled |  | (140,822) |  |  | 32.06 |  |  |  |  |
Balance as of December 31, 2025 |  | 10,849,088 |  |  | 19.44 |  |  | 4.76 |  |
Vested and exercisable, December 31, 2025 |  | 9,362,226 |  |  | $ | 18.01 |  |  | 4.27 |  | $ | 529,250 |
Vested and exercisable, and expected to vest thereafter(1) December 31, 2025 |  | 10,847,762 |  |  | $ | 19.46 |  |  | 4.76 |  | $ | 597,429 |
(1)Options expected to vest reflect the application of an estimated forfeiture rate. The following table summarizes our Value Creation Award activity for the six months ended December 31, 2025:
|  | Number of Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (in thousands)
Balance as of June 30, 2025 |  | 12,500,000 |  |  | $ | 49.00 |  |  | 5.29 |  |
Exercised |  | (1,333,332) |  |  | 49.00 |  |  |  |  |
Balance as of December 31, 2025 |  | 11,166,668 |  |  | 49.00 |  |  | 5.04 |  |
Vested and exercisable, December 31, 2025 |  | 2,666,668 |  |  | $ | 49.00 |  |  | 5.04 |  | $ | 67,813 |
Schedule of Restricted Stock Unit Activity | The following table summarizes our RSU activity during the six months ended December 31, 2025:
|  | Number of Shares |  | Weighted Average Grant Date Fair Value
Non-vested at June 30, 2025 |  | 13,666,035 |  |  | $ | 30.98 |
Granted |  | 5,993,867 |  |  | 67.73 |
Vested |  | (6,176,746) |  |  | 37.44 |
Forfeited, expired or canceled |  | (893,037) |  |  | 37.72 |
Non-vested at December 31, 2025 |  | 12,590,119 |  |  | $ | 44.83 |
Schedule of PSU Activity | The following table summarizes our PSU activity during the six months ended December 31, 2025:
|  | Number of Shares |  | Weighted Average Grant Date Fair Value
Non-vested at June 30, 2025 |  | — |  |  | $ | — |
Granted |  | 262,756 |  |  | 89.91 |
Non-vested at December 31, 2025 |  | 262,756 |  |  | $ | 89.91 |
Schedule of Components and Classification of Stock-Based Compensation | The following table presents the components and classification of stock-based compensation (in thousands):
|  | Three Months Ended December 31, |  | Six Months Ended December 31,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
General and administrative |  | $ | 50,588 |  |  | $ | 57,719 |  |  | $ | 106,362 |  |  | $ | 120,524 |
Technology and data analytics |  | 23,012 |  |  | 23,677 |  |  | 47,776 |  |  | 49,648 |
Sales and marketing |  | 3,984 |  |  | 4,482 |  |  | 9,060 |  |  | 9,677 |
Processing and servicing |  | 215 |  |  | 220 |  |  | 455 |  |  | 482 |
Total stock-based compensation in operating expenses |  | 77,800 |  |  | 86,098 |  |  | 163,653 |  |  | 180,331 |
Capitalized into property, equipment and software, net |  | 46,636 |  |  | 44,708 |  |  | 99,521 |  |  | 94,186 |
Total stock-based compensation |  | $ | 124,436 |  |  | $ | 130,806 |  |  | $ | 263,174 |  |  | $ | 274,517 |

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