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Employee Benefit Plans (Tables) | 9 Months Ended
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Mar. 31, 2021
Share Based Compensation [Abstract] |
Common Stock Reserved for Future Issuance | The Company had the following reserved shares of common stock for future issuance as of the dates noted (in thousands):
|  | March 31, 2021 |  |  | June 30, 2020 |
2013 Equity Incentive Plan shares available for grant |  |  | 6,518 |  |  |  | 13,118 |
Employee stock options and awards outstanding |  |  | 11,327 |  |  |  | 10,396 |
2014 Employee Stock Purchase Plan |  |  | 4,414 |  |  |  | 7,364 |
Total shares reserved for issuance |  |  | 22,259 |  |  |  | 30,878 |
Schedule of Recognized Share-based Compensation Expense | Share-based compensation expense recognized in the condensed consolidated financial statements by line item caption is as follows (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | March 31, 2021 |  |  | March 31, 2020 |  |  | March 31, 2021 |  |  | March 31, 2020 |
Cost of product revenues |  | $ | 297 |  |  | $ | 280 |  |  | $ | 869 |  |  | $ | 932 |
Cost of service and subscription revenues |  |  | 412 |  |  |  | 368 |  |  |  | 1,223 |  |  |  | 1,220 |
Research and development |  |  | 2,414 |  |  |  | 2,518 |  |  |  | 7,380 |  |  |  | 8,213 |
Sales and marketing |  |  | 3,150 |  |  |  | 1,338 |  |  |  | 9,036 |  |  |  | 8,568 |
General and administrative |  |  | 2,925 |  |  |  | 2,639 |  |  |  | 9,087 |  |  |  | 7,523 |
Integration costs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 479 |
Total share-based compensation expense |  | $ | 9,198 |  |  | $ | 7,143 |  |  | $ | 27,595 |  |  | $ | 26,935 |
Summary of Stock Option Activity | The following table summarizes stock option activity for the nine months ended March 31, 2021 (in thousands, except per share and contractual term):
|  | Number of Shares |  |  | Weighted-Average Exercise Price Per Share |  |  | Weighted-Average Remaining Contractual Term (years) |  |  | Aggregate Intrinsic Value |
Options outstanding at June 30, 2020 |  |  | 2,922 |  |  | $ | 4.95 |  |  |  | 3.09 |  |  | $ | 1,688 |
Granted |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Exercised |  |  | (415 | ) |  |  | 3.44 |  |  |  |  |  |  |  |  |
Cancelled |  |  | (655 | ) |  |  | 5.39 |  |  |  |  |  |  |  |  |
Options outstanding at March 31, 2021 |  |  | 1,852 |  |  | $ | 5.14 |  |  |  | 3.55 |  |  | $ | 6,687 |
Vested and expected to vest at March 31, 2021 |  |  | 1,852 |  |  | $ | 5.14 |  |  |  | 3.55 |  |  | $ | 6,687 |
Exercisable at March 31, 2021 |  |  | 903 |  |  | $ | 3.69 |  |  |  | 2.21 |  |  | $ | 4,577 |
Summary of Stock Award Activity | The following table summarizes stock award activity for the nine months ended March 31, 2021 (in thousands, except grant date fair value):
|  | Number of Shares |  |  | Weighted- Average Grant Date Fair Value |  |  | Aggregate Fair Market Value |
Non-vested stock awards outstanding at June 30, 2020 |  |  | 7,474 |  |  | $ | 6.83 |  |  |  |  |
Granted |  |  | 6,015 |  |  |  | 4.87 |  |  |  |  |
Released |  |  | (3,047 | ) |  |  | 7.16 |  |  |  |  |
Cancelled |  |  | (967 | ) |  |  | 8.13 |  |  |  |  |
Non-vested stock awards outstanding at March 31, 2021 |  |  | 9,475 |  |  | $ | 5.36 |  |  | $ | 82,907 |
Vested and expected to vest at March 31, 2021 |  |  | 9,032 |  |  | $ | 5.29 |  |  | $ | 78,993 |
Schedule of Awards Performance Thresholds and Shares Expected to Vest (TSR PSUs) | The MSU award represents the right to receive a target number of shares of common stock up to 150% of the original grant. The MSUs vest based on the Company’s TSR relative to the TSR of the Index over performance periods from August 15, 2020 through August 15, 2023, subject to the grantees’ continued service through the certification of performance.
Level | Relative TSR | Shares Vested |
Below Threshold | TSR is less than the Index by more than 37.5 percentage points | 0% |
Threshold | TSR is less than the Index by 37.5 percentage points | 25% |
Target | TSR equals the Index | 100% |
Maximum | TSR is greater than the Index by 25 percentage points or more | 150% |
Schedule of Fair Value Assumptions for Employee Stock Purchase Plan Awards | The following assumptions were used to determine the grant-date fair values of the ESPP shares during the following periods:
|  | Employee Stock Purchase Plan |  |  | Employee Stock Purchase Plan |
|  | Three Months Ended |  |  | Nine Months Ended |
|  | March 31, 2021 |  |  | March 31, 2020 |  |  | March 31, 2021 |  |  | March 31, 2020 |
Expected life |  | 0.5 years |  |  | 0.5 years |  |  | 0.5 years |  |  | 0.5 years |
Risk-free interest rate |  |  | 0.05 | % |  |  | 1.56 | % |  |  | 0.09 | % |  |  | 1.71 | %
Volatility |  |  | 55 | % |  |  | 43 | % |  |  | 95 | % |  |  | 43 | %
Dividend yield |  |  | — | % |  |  | — | % |  |  | — | % |  |  | — | %

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + Details
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