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Stockholders' Equity and Stock-Based Compensation (Tables)
6 Months Ended
Dec. 31, 2024
Stockholders Equity And Stock Based Compensation [Abstract]  
Summary of Stock Option Activity

Stock option activity under the Company’s equity incentive plans during the six months ended December 31, 2024 was as follows (in thousands, except per share data):

 

 

 

Number of
Options

 

 

Weighted-
Average
Exercise
Price

 

 

Weighted-
Average
Remaining
Contractual
Term
(in years)

 

 

Aggregate
Intrinsic
Value
(1)

 

Balance as of June 30, 2024

 

 

6,866

 

 

$

10.40

 

 

 

4.4

 

 

$

180,360

 

Exercised

 

 

(3,161

)

 

 

10.31

 

 

 

 

 

 

 

Forfeited

 

 

(24

)

 

 

22.61

 

 

 

 

 

 

 

Balance as of December 31, 2024

 

 

3,681

 

 

$

10.40

 

 

 

3.9

 

 

$

197,632

 

Vested and exercisable as of December 31, 2024

 

 

3,604

 

 

$

10.14

 

 

 

3.8

 

 

$

194,412

 

Vested and expected to vest as of December 31, 2024

 

 

3,681

 

 

$

10.40

 

 

 

3.9

 

 

$

197,632

 

 

(1)
Aggregate intrinsic value for stock options represents the difference between the exercise price and the per share fair value of the Company’s common stock as of the end of the period, multiplied by the number of stock options outstanding.
Schedule of PSU Activity

PSU activity during the six months ended December 31, 2024 was as follows (in thousands, except per share data):

 

 

 

Number of Shares

 

 

Weighted-
Average
Grant Date
Fair Value

 

Balance as of June 30, 2024

 

 

2,550

 

 

$

29.48

 

Granted

 

 

1,091

 

 

 

38.45

 

Vested

 

 

(731

)

 

 

25.34

 

Forfeited

 

 

(166

)

 

 

29.22

 

Balance as of December 31, 2024

 

 

2,744

 

 

$

34.16

 

Schedule of RSU Activity

RSU activity during the six months ended December 31, 2024 was as follows (in thousands, except per share data):

 

 

 

Number of Shares

 

 

Weighted-
Average
Grant Date
Fair Value

 

Balance as of June 30, 2024

 

 

2,524

 

 

$

30.84

 

Granted

 

 

1,940

 

 

 

44.35

 

Vested

 

 

(651

)

 

 

33.33

 

Forfeited

 

 

(177

)

 

 

33.16

 

Balance as of December 31, 2024

 

 

3,636

 

 

$

37.49

 

Summary of Stock-Based Compensation Expense

The Company recorded stock-based compensation expense in the unaudited condensed consolidated statements of operations as follows (in thousands):

 

 

 

Three Months Ended December 31,

 

 

Six Months Ended December 31,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Cost of revenues

 

 

 

 

 

 

 

 

 

 

 

 

Cost of SaaS

 

$

851

 

 

$

427

 

 

$

1,515

 

 

$

840

 

Cost of license

 

 

199

 

 

 

159

 

 

 

388

 

 

 

287

 

Cost of professional services

 

 

1,652

 

 

 

1,432

 

 

 

3,031

 

 

 

2,765

 

Research and development

 

 

6,800

 

 

 

4,468

 

 

 

11,424

 

 

 

9,114

 

Sales and marketing

 

 

7,232

 

 

 

4,888

 

 

 

12,970

 

 

 

10,227

 

General and administrative

 

 

8,677

 

 

 

5,134

 

 

 

16,072

 

 

 

12,032

 

Total stock-based compensation

 

$

25,411

 

 

$

16,508

 

 

$

45,400

 

 

$

35,265