XML 24 R11.htm IDEA: XBRL DOCUMENT v3.22.1
Balance Sheet Information
9 Months Ended
Mar. 31, 2022
Balance Sheet Related Disclosures [Abstract]  
Balance Sheet Information
(5) Balance Sheet Information
The following tables provide details of selected consolidated balance sheet items:
Activity in the allowance for credit losses related to accounts receivable was as follows:
Balance at June 30, 2021
$800
Charged to expense238
Write-offs (183)
Balance at March 31, 2022
$855
Capitalized internal-use software and accumulated amortization were as follows:
June 30,
2021
March 31,
2022
Capitalized internal-use software$150,922 $182,140 
Accumulated amortization(105,904)(124,427)
Capitalized internal-use software, net$45,018 $57,713 
Amortization of capitalized internal-use software costs is included in Cost of revenues and amounted to $6,005 and $6,308 for the three months ended March 31, 2021 and 2022, respectively, and $17,273 and $18,523 for the nine months ended March 31, 2021 and 2022, respectively.
Property and equipment, net consist of the following:
June 30,
2021
March 31,
2022
Office equipment $5,211 $4,365 
Computer equipment 45,420 54,172 
Furniture and fixtures 13,104 12,791 
Software 6,641 8,278 
Leasehold improvements 46,814 47,255 
Time clocks rented by clients 5,399 6,423 
Total122,589 133,284 
Accumulated depreciation(62,754)(69,280)
Property and equipment, net $59,835 $64,004 
Depreciation expense amounted to $3,966 and $4,098 for the three months ended March 31, 2021 and 2022, respectively, and $11,985 and $11,914 for the nine months ended March 31, 2021 and 2022, respectively.
The following table summarizes changes in goodwill during the nine months ended March 31, 2022:
March 31,
2022
Balance at June 30, 2021
$33,650
Additions attributable to acquisitions68,533
Balance at March 31, 2022
$102,183
Refer to Note 4 for further details on current year acquisitions.
The Company’s amortizable intangible assets and estimated useful lives are as follows:
June 30,
2021
March 31,
2022
Weighted
average
useful
life (years)
Proprietary technology$6,129 $43,129 6.0
Client relationships 19,200 22,200 7.8
Non-solicitation agreements1,600 1,600 3.1
Trade names440 1,640 5.0
Total 27,369 68,569 
Accumulated amortization (14,342)(20,324)
Intangible assets, net $13,027 $48,245 
Amortization expense for acquired intangible assets was $1,028 and $2,630 for the three months ended March 31, 2021 and 2022, respectively, and $2,812 and $5,982 for the nine months ended March 31, 2021 and 2022, respectively.
Future amortization expense for acquired intangible assets as of March 31, 2022 is as follows:
Remainder of fiscal 2022
$2,770 
Fiscal 2023
10,948 
Fiscal 2024
9,943 
Fiscal 2025
8,888 
Fiscal 2026
7,269 
Thereafter8,427 
Total $48,245 
The components of accrued expenses were as follows:
June 30,
2021
March 31,
2022
Accrued payroll and personnel costs $73,969$67,965
Operating lease liabilities7,5498,270
Deferred revenue9,44214,326
Other 12,14918,259
Total accrued expenses $103,109$108,820