v3.25.4

Balance Sheet Components (Tables) | 6 Months Ended
--- | ---
Dec. 31, 2025
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, 2025 |  | June 30, 2025
Internally developed software |  | $ | 1,180,344 |  |  | $ | 987,399 |
Leasehold improvements |  | 25,690 |  |  | 21,990 |
Computer equipment |  | 11,178 |  |  | 9,555 |
Furniture and equipment |  | 9,692 |  |  | 9,007 |
Total property, equipment and software, at cost |  | $ | 1,226,904 |  |  | $ | 1,027,952 |
Less: Accumulated depreciation and amortization |  | (587,014) |  |  | (455,315) |
Total property, equipment and software, net |  | $ | 639,891 |  |  | $ | 572,637 |
Schedule of Changes in the Carrying Amount of Goodwill | The changes in the carrying amount of goodwill during the six months ended December 31, 2025 were as follows (in thousands):
Balance as of June 30, 2025 |  | $ | 534,156 |
Adjustments (1) |  | (715) |
Balance as of December 31, 2025 |  | $ | 533,441 |
(1)Adjustments to goodwill during the six months ended December 31, 2025 primarily pertained to foreign currency translation adjustments.
Schedule of Finite-Lived Intangible Assets | Intangible assets consisted of the following (in thousands):
|  | December 31, 2025
|  | Gross |  | Accumulated Amortization |  | Net |  | Weighted Average Remaining Useful Life (in years)
Merchant relationships |  | $ | 37,826 |  |  | $ | (37,826) |  |  | $ | — |  |  | 0.0
Developed technology |  | 39,431 |  |  | (39,387) |  |  | 44 |  |  | 0.8
Assembled workforce |  | 12,490 |  |  | (12,490) |  |  | — |  |  | 0.0
Trademarks and domains |  | 1,448 |  |  | (1,448) |  |  | — |  |  | 0.0
Trademarks, licenses and domains |  | 12,225 |  |  | — |  |  | 12,225 |  |  | Indefinite
Other intangibles |  | 350 |  |  | — |  |  | 350 |  |  | Indefinite
Total intangible assets |  | $ | 103,770 |  |  | $ | (91,151) |  |  | $ | 12,619 |  |  |
|  | June 30, 2025
|  | Gross |  | Accumulated Amortization |  | Net |  | Weighted Average Remaining Useful Life (in years)
Merchant relationships |  | $ | 37,845 |  |  | $ | (37,845) |  |  | $ | — |  |  | 0.0
Developed technology |  | 39,443 |  |  | (39,369) |  |  | 74 |  |  | 1.3
Assembled workforce |  | 12,490 |  |  | (12,490) |  |  | — |  |  | 0.0
Trademarks and domains |  | 1,450 |  |  | (1,355) |  |  | 95 |  |  | 0.6
Trademarks, licenses and domains |  | 12,416 |  |  | — |  |  | 12,416 |  |  | Indefinite
Other intangibles |  | 350 |  |  | — |  |  | 350 |  |  | Indefinite
Total intangible assets |  | $ | 103,994 |  |  | $ | (91,059) |  |  | $ | 12,935 |  |  |
Schedule of Indefinite-Lived Intangible Assets | Intangible assets consisted of the following (in thousands):
|  | December 31, 2025
|  | Gross |  | Accumulated Amortization |  | Net |  | Weighted Average Remaining Useful Life (in years)
Merchant relationships |  | $ | 37,826 |  |  | $ | (37,826) |  |  | $ | — |  |  | 0.0
Developed technology |  | 39,431 |  |  | (39,387) |  |  | 44 |  |  | 0.8
Assembled workforce |  | 12,490 |  |  | (12,490) |  |  | — |  |  | 0.0
Trademarks and domains |  | 1,448 |  |  | (1,448) |  |  | — |  |  | 0.0
Trademarks, licenses and domains |  | 12,225 |  |  | — |  |  | 12,225 |  |  | Indefinite
Other intangibles |  | 350 |  |  | — |  |  | 350 |  |  | Indefinite
Total intangible assets |  | $ | 103,770 |  |  | $ | (91,151) |  |  | $ | 12,619 |  |  |
|  | June 30, 2025
|  | Gross |  | Accumulated Amortization |  | Net |  | Weighted Average Remaining Useful Life (in years)
Merchant relationships |  | $ | 37,845 |  |  | $ | (37,845) |  |  | $ | — |  |  | 0.0
Developed technology |  | 39,443 |  |  | (39,369) |  |  | 74 |  |  | 1.3
Assembled workforce |  | 12,490 |  |  | (12,490) |  |  | — |  |  | 0.0
Trademarks and domains |  | 1,450 |  |  | (1,355) |  |  | 95 |  |  | 0.6
Trademarks, licenses and domains |  | 12,416 |  |  | — |  |  | 12,416 |  |  | Indefinite
Other intangibles |  | 350 |  |  | — |  |  | 350 |  |  | Indefinite
Total intangible assets |  | $ | 103,994 |  |  | $ | (91,059) |  |  | $ | 12,935 |  |  |
Schedule of Other Assets | Other assets consisted of the following (in thousands):
|  | December 31, 2025 |  | June 30, 2025 |  |
Processing reserves |  | $ | 125,197 |  |  | $ | 90,826 |  |  |
Prepaid expenses |  | 61,128 |  |  | 47,027 |  |  |
Equity securities held at cost |  | 40,396 |  |  | 40,277 |  |  |
Risk sharing assets |  | 38,992 |  |  | 43,179 |  |  |
Operating lease right-of-use assets |  | 25,904 |  |  | 19,124 |  |  |
Prepaid payroll taxes for stock-based compensation |  | 25,470 |  |  | 25,188 |  |  |
Foreign deferred tax asset |  | 9,574 |  |  | 13,929 |  |  |
Other assets |  | 18,325 |  |  | 15,810 |  |  |
Total other assets |  | $ | 344,986 |  |  | $ | 295,360 |  |  |
Schedule of Accrued Expenses and Other Liabilities | Accrued expenses and other liabilities consisted of the following (in thousands):
|  | December 31, 2025 |  | June 30, 2025
Accrued expenses |  | $ | 85,398 |  |  | $ | 72,813 |
Operating lease liability |  | 42,277 |  |  | 31,943 |
Other liabilities |  | 56,783 |  |  | 52,516 |
Total accrued expenses and other liabilities |  | $ | 184,459 |  |  | $ | 157,272 |

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