v3.25.4
Employee Benefit Plans (Tables)
6 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement, Noncash Expense [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):

 

 

December 31, 2025

 

 

June 30, 2025

 

2013 Equity Incentive Plan shares available for grant

 

 

13,153

 

 

 

10,935

 

Employee stock options and awards outstanding

 

 

8,509

 

 

 

7,566

 

2014 Employee Stock Purchase Plan

 

 

5,418

 

 

 

5,952

 

Total shares reserved for issuance

 

 

27,080

 

 

 

24,453

 

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

 

 

Six Months Ended

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2025

 

 

December 31, 2024

 

Cost of product revenues

 

$

796

 

 

$

680

 

 

$

1,548

 

 

$

1,298

 

Cost of subscription and support revenues

 

 

759

 

 

 

798

 

 

 

1,486

 

 

 

1,487

 

Research and development

 

 

4,639

 

 

 

4,467

 

 

 

9,086

 

 

 

8,680

 

Sales and marketing

 

 

8,009

 

 

 

7,596

 

 

 

15,522

 

 

 

14,478

 

General and administrative

 

 

8,696

 

 

 

7,911

 

 

 

17,037

 

 

 

15,276

 

Total share-based compensation expense

 

$

22,899

 

 

$

21,452

 

 

$

44,679

 

 

$

41,219

 

Summary of Stock Option Activity

The following table summarizes stock option activity for the six months ended December 31, 2025 (in thousands, except per share amount 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, 2025

 

 

496

 

 

$

6.70

 

 

 

1.16

 

 

$

5,580

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

(121

)

 

 

 

 

 

 

 

 

 

Canceled

 

 

 

 

 

 

 

 

 

 

 

 

Options outstanding at December 31, 2025

 

 

375

 

 

$

6.70

 

 

 

0.66

 

 

$

3,727

 

Vested and expected to vest at December 31, 2025

 

 

375

 

 

$

6.70

 

 

 

0.66

 

 

$

3,727

 

Exercisable at December 31, 2025

 

 

375

 

 

$

6.70

 

 

 

0.66

 

 

$

3,727

 

Summary of Stock Award Activity

The following table summarizes stock award activity for the six months ended December 31, 2025 (in thousands, except grant date fair value):

 

 

Number of Shares

 

 

Weighted- Average Grant Date Fair Value

 

 

Aggregate Fair Value

 

Non-vested stock awards outstanding at June 30, 2025

 

 

7,070

 

 

$

19.53

 

 

 

 

Granted

 

 

4,351

 

 

 

20.87

 

 

 

 

Released

 

 

(3,185

)

 

 

18.86

 

 

 

Canceled

 

 

(102

)

 

 

19.84

 

 

 

 

Non-vested stock awards outstanding at December 31, 2025

 

 

8,134

 

 

$

20.57

 

 

 

 

Stock awards expected to vest at December 31, 2025

 

 

8,134

 

 

$

20.57

 

 

$

167,311

 

Schedule of Fair Value Assumptions for Employee Stock Purchase Plan Awards The following assumptions used to determine the grant-date fair values of the MSU during the following periods:

 

 

Equity Incentive Plan

 

 

 

 

Six Months Ended

 

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

Expected term

 

3.0 years

 

 

3.0 years

 

 

Risk-free interest rate

 

 

3.70

%

 

 

3.86

%

 

Volatility

 

 

45

%

 

 

48

%

 

Dividend yield

 

 

%

 

 

%

 

The following assumptions were used to determine the grant-date fair values of the ESPP shares during the following periods:

 

 

Employee Stock Purchase Plan

 

 

 

 

Six Months Ended

 

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

Expected term

 

0.5 years

 

 

0.5 years

 

 

Risk-free interest rate

 

 

4.12

%

 

 

5.04

%

 

Volatility

 

 

50

%

 

 

36

%

 

Dividend yield

 

 

%

 

 

%