XML 50 R36.htm IDEA: XBRL DOCUMENT
v3.20.2

Income Taxes (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2020
Income Taxes |
Schedule of income tax expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended June 30, |
​ |  | 2018 |  | 2019 |  | 2020 |
Current taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. federal | ​ | $ | 294 | ​ | $ | — | ​ | $ | — | ​
State and local | ​ |  | 364 | ​ |  | 90 | ​ |  | (92) | ​
Deferred taxes: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. federal | ​ |  | (15,167) | ​ |  | 5,449 | ​ |  | 403 | ​
State and local | ​ |  | (7,338) | ​ |  | (1,316) | ​ |  | 2,352 | ​
Total income tax expense (benefit) | ​ | $ | (21,847) | ​ | $ | 4,223 | ​ | $ | 2,663 | ​
Schedule of tax rate reconciliation by applying the U.S. federal income tax rate to pretax income (loss) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended June 30, |
​ |  | 2018 |  | 2019 |  | 2020 |
Income tax expense (benefit) at statutory federal rate | ​ | ​ | 27.6 | % | ​ | 21.0 | % | ​ | 21.0 | %
Increase (reduction) in income taxes resulting from: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Research and development and other credits | ​ |  | (6.6) | ​ |  | (3.0) | ​ | ​ | (3.2) | ​
Non-deductible expenses | ​ |  | 4.6 | ​ |  | 1.3 | ​ | ​ | 1.6 | ​
Change in valuation allowance | ​ |  | (136.0) | ​ |  | 0.3 | ​ | ​ | 5.2 | ​
Effect of Tax Cuts and Jobs Act | ​ | ​ | 51.5 | ​ | ​ | — | ​ | ​ | — | ​
Stock-based compensation expense | ​ | ​ | (58.3) | ​ | ​ | (10.4) | ​ | ​ | (18.3) | ​
State and local income taxes, net of federal income tax benefit | ​ |  | (13.5) | ​ |  | (2.0) | ​ | ​ | (1.8) | ​
Other | ​ | ​ | 0.3 | ​ | ​ | 0.1 | ​ | ​ | (0.5) | ​
​ | ​ | ​ | (130.4) | % | ​ | 7.3 | % | ​ | 4.0 | %
Schedule of tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended June 30, |
​ |  | 2019 |  | 2020 |
Deferred tax assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred rent | ​ | $ | 1,963 | ​ | $ | — | ​
Operating lease liability | ​ | ​ | — | ​ | ​ | 21,041 | ​
Accrued expenses | ​ |  | 4,344 | ​ |  | 9,915 | ​
Stock-based compensation | ​ |  | 10,373 | ​ |  | 13,351 | ​
Net operating loss carryforwards | ​ |  | 9,980 | ​ |  | 13,596 | ​
Federal and state tax credits | ​ |  | 11,977 | ​ |  | 16,714 | ​
Intangible assets | ​ | ​ | 385 | ​ | ​ | — | ​
Total deferred tax assets | ​ |  | 39,022 | ​ |  | 74,617 | ​
Valuation allowance | ​ |  | (502) | ​ |  | (3,967) | ​
Net deferred tax assets | ​ |  | 38,520 | ​ |  | 70,650 | ​
Deferred tax liabilities: | ​ | ​ | ​ | ​ |  | ​ | ​
Deferred contract costs | ​ | ​ | (27,116) | ​ | ​ | (41,229) | ​
Operating lease right-of-use assets | ​ | ​ | — | ​ | ​ | (12,607) | ​
Research and development costs | ​ |  | (6,294) | ​ | ​ | (8,563) | ​
Intangible assets | ​ |  | — | ​ |  | (781) | ​
Depreciation | ​ |  | (5,581) | ​ |  | (11,269) | ​
Total deferred tax liabilities | ​ |  | (38,991) | ​ |  | (74,449) | ​
Net deferred tax asset (liability) | ​ | $ | (471) | ​ | $ | (3,799) | ​

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration