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Business Combination (Tables) | 9 Months Ended
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Mar. 31, 2020
Summary of Unaudited Pro Forma Financial Information |
|  | Three Months Ended |  |  | Nine Months Ended |
|  | March 31, 2020 |  |  | March 31, 2019 |  |  | March 31, 2020 |  |  | March 31, 2019 |
Net revenues |  | $ | 210,255 |  |  | $ | 282,229 |  |  | $ | 746,301 |  |  | $ | 850,337 |
Net loss |  | $ | (37,873 | ) |  | $ | (23,272 | ) |  | $ | (66,720 | ) |  | $ | (83,051 | )
Net loss per share - basic and diluted |  | $ | (0.32 | ) |  | $ | (0.20 | ) |  | $ | (0.56 | ) |  | $ | (0.71 | )
Shares used in per share calculation - basic and diluted |  |  | 119,162 |  |  |  | 117,944 |  |  |  | 119,648 |  |  |  | 117,619 |
Aerohive Networks, Inc. |
Components of Aggregate Purchase Consideration | The components of aggregate purchase consideration are as follows (in thousands):
Estimated purchase consideration | August 9, 2019 |
Cash paid to acquire outstanding shares | $ | 263,616 |
Replacement of stock-based awards |  | 3,530 |
Aggregate estimated purchase consideration | $ | 267,146 |
Summary of Preliminary Allocation of Tangible and Identifiable Intangible Assets Acquired and Liabilities Assumed | The preliminary purchase price allocation is set forth in the table below and reflects estimated fair values (in thousands).
| Preliminary Allocation as of August 9, 2019 |  |  | Adjustments |  |  |  |  | Allocation as of March 31, 2020 |
Cash and cash equivalents | $ | 44,158 |  |  | $ | — |  |  |  |  | $ | 44,158 |
Short-term investments |  | 45,148 |  |  |  | — |  |  |  |  |  | 45,148 |
Accounts receivable, net |  | 11,753 |  |  |  | — |  |  |  |  |  | 11,753 |
Inventories |  | 16,698 |  |  |  | 2,534 |  |  | a |  |  | 19,232 |
Prepaid expenses and other current assets |  | 3,980 |  |  |  | (56 | ) |  | b |  |  | 3,924 |
Property and equipment |  | 2,185 |  |  |  | 179 |  |  | c |  |  | 2,364 |
Operating lease right-of-use assets |  | 6,336 |  |  |  | — |  |  |  |  |  | 6,336 |
Other assets |  | 2,195 |  |  |  | — |  |  |  |  |  | 2,195 |
Debt |  | (20,000 | ) |  |  | — |  |  |  |  |  | (20,000 | )
Accounts payable |  | (9,737 | ) |  |  | — |  |  |  |  |  | (9,737 | )
Accrued compensation and benefits |  | (7,129 | ) |  |  | — |  |  |  |  |  | (7,129 | )
Accrued warranty |  | (570 | ) |  |  | — |  |  |  |  |  | (570 | )
Other accrued liabilities |  | (1,960 | ) |  |  | — |  |  |  |  |  | (1,960 | )
Operating lease liabilities |  | (4,752 | ) |  |  | — |  |  |  |  |  | (4,752 | )
Deferred revenue |  | (68,415 | ) |  |  | — |  |  |  |  |  | (68,415 | )
Other liabilities |  | (408 | ) |  |  | — |  |  |  |  |  | (408 | )
Net tangible assets |  | 19,482 |  |  |  | 2,657 |  |  |  |  |  | 22,139 |
Identifiable intangible assets |  | 53,400 |  |  |  | (900 | ) |  | d |  |  | 52,500 |
Goodwill |  | 194,264 |  |  |  | (1,757 | ) |  | a,b,c,d |  |  | 192,507 |
Total intangible assets acquired |  | 247,664 |  |  |  | (2,657 | ) |  |  |  |  | 245,007 |
Total net assets acquired | $ | 267,146 |  |  |  | — |  |  |  |  | $ | 267,146 |
The changes during the period in the table above include: a) adjustment of the fair value of inventories acquired, b) write-off of an asset with no future economic value as of the Acquisition Date, c) adjustment to the value of property and equipment as of the Acquisition Date at an international location, and d) adjustment to the fair value of intangibles.
Schedule of Identifiable Intangible Assets Acquired as Part of Acquisition | The following table presents details of the identifiable intangible assets acquired as part of the Acquisition (dollars in thousands):
Intangible Assets |  | Estimated Useful Life (in years) |  |  | Amount |
Developed technology |  |  | 4 |  |  | $ | 39,100 |
Backlog |  |  | 1 |  |  |  | 400 |
Customer relationships |  |  | 7 |  |  |  | 11,400 |
Trade names |  |  | 1 |  |  |  | 1,600 |
Total identifiable intangible assets |  |  |  |  |  | $ | 52,500 |

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