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Stockholders' Equity | 6 Months Ended
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Dec. 31, 2025
Equity [Abstract] |
Stockholders' Equity | STOCKHOLDERS’ EQUITY Stock Based Compensation Stock-based compensation by award type (in thousands):
| Three Months Ended December 31, |  | Six Months Ended December 31, |  | As of December 31, 2025
| 2025 |  | 2024 |  | 2025 |  | 2024 |  | Unrecognized compensation |  | Weighted-average recognition period (in years)
Restricted stock units (RSUs) | $ | 60,679 |  |  | $ | 60,920 |  |  | $ | 117,462 |  |  | $ | 111,814 |  |  | $ | 368,773 |  |  | 2.4
Performance-based awards | 4,573 |  |  | 4,040 |  |  | 5,120 |  |  | 6,835 |  |  | 21,973 |  |  | 1.8
Employee stock purchase plan | 1,756 |  |  | 1,597 |  |  | 3,758 |  |  | 3,005 |  |  | 2,420 |  |  | 0.5
Market-based RSUs | 2,188 |  |  | 1,785 |  |  | 6,614 |  |  | 2,790 |  |  | 16,078 |  |  | 1.3
Stock options | 89 |  |  | 784 |  |  | 476 |  |  | 2,022 |  |  | — |  |  | 0.0
Total stock-based compensation | $ | 69,285 |  |  | $ | 69,126 |  |  | $ | 133,430 |  |  | $ | 126,466 |  |  | $ | 409,244 |  |  |
Stock-based compensation was included in the following line items in the accompanying condensed consolidated statements of operations and condensed consolidated balance sheets (in thousands):
| Three Months Ended December 31, |  | Six Months Ended December 31,
| 2025 |  | 2024 |  | 2025 |  | 2024
Revenue - subscription and transaction fees | $ | 634 |  |  | $ | 608 |  |  | $ | 1,242 |  |  | $ | 1,135 |
Cost of revenue - service costs | 2,248 |  |  | 2,579 |  |  | 4,593 |  |  | 4,732 |
Research and development | 29,161 |  |  | 29,270 |  |  | 55,061 |  |  | 52,903 |
Sales and marketing | 10,019 |  |  | 10,480 |  |  | 19,645 |  |  | 21,274 |
General and administrative | 22,164 |  |  | 22,943 |  |  | 42,489 |  |  | 40,497 |
Restructuring | 31 |  |  | — |  |  | 31 |  |  | — |
Total amount charged to operating loss | 64,257 |  |  | 65,880 |  |  | 123,061 |  |  | 120,541 |
Property and equipment (capitalized internal-use software) | 5,028 |  |  | 3,246 |  |  | 10,369 |  |  | 5,925 |
Total stock-based compensation | $ | 69,285 |  |  | $ | 69,126 |  |  | $ | 133,430 |  |  | $ | 126,466 |
Share Repurchase Program In August 2024, the Company's board of directors approved a share repurchase program, pursuant to which the Company announced its intention to purchase up to $300.0 million of its outstanding shares of common stock (the August 2024 Share Repurchase Program). In July 2025, the Company completed the repurchase of shares under the August 2024 Share Repurchase Program. In August 2025, the Company's board of directors authorized an additional share repurchase program pursuant to which the Company announced its intention to purchase up to $300.0 million of its outstanding shares of common stock (the August 2025 Share Repurchase Program). The Company may repurchase such shares from time to time through open market purchases, in privately negotiated transactions, or by other means, including through the use of trading plans. The timing and total amount of stock repurchases will depend upon business, economic and market conditions, corporate and regulatory requirements, prevailing stock prices, and other considerations. The August 2025 Share Repurchase Program has no mandated end date, may be suspended, discontinued or modified at any time, and does not obligate the Company to acquire any amount of common stock. The table below sets forth information regarding repurchases made pursuant to the Company's share repurchase programs as of December 31, 2025 (in thousands, except per share data):
| August 2024 Share Repurchase Program |  | August 2025 Share Repurchase Program
Period | Shares repurchased |  | Total amount repurchased(1) |  | Average price paid per share(1) |  | Available for future share repurchases |  | Shares repurchased |  | Total amount repurchased(1) |  | Average price paid per share(1) |  | Available for future share repurchases
Fiscal 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First quarter | 3,711 |  |  | $ | 201,709 |  |  | $ | 54.35 |  |  |  |  | — |  |  | $ | — |  |  | $ | — |  |  |
Second quarter | — |  |  | — |  |  | $ | — |  |  |  |  | — |  |  | — |  |  | $ | — |  |  |
Total | 3,711 |  |  | $ | 201,709 |  |  |  |  |  |  | — |  |  | $ | — |  |  |  |  |
Fiscal 2026 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First quarter | 1,392 |  |  | $ | 65,454 |  |  | $ | 47.02 |  |  |  |  | $ | 303 |  |  | $ | 16,258 |  |  | $ | 53.71 |  |  |
Second quarter | — |  |  | — |  |  | $ | — |  |  |  |  | 2,545 |  |  | 132,980 |  |  | $ | 52.26 |  |  |
Total | 1,392 |  |  | $ | 65,454 |  |  |  |  | $ | — |  |  | $ | 2,848 |  |  | $ | 149,238 |  |  |  |  | $ | 151,857 |
(1) Amounts include an immaterial amount of accrued excise tax. In addition, in December 2024, the Company's board of directors approved the repurchase of up to an additional $200.0 million of its outstanding shares of common stock in connection with the issuance of the 2030 Notes. During the three months ended December 31, 2024, the Company repurchased 2,260,397 shares of its common stock for $201.4 million, which included an immaterial amount of accrued excise tax, in privately negotiated transactions concurrently with the pricing of, and using proceeds from, the issuance of the 2030 Notes. The total price of the shares repurchased and related transaction costs are reflected as a reduction of common stock and an increase to accumulated deficit on the Company's condensed consolidated balance sheets.

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