We have a Board-approved stock repurchase program authorizing repurchases of up to $150.0 million of our common stock. This program does not have an expiration date; however, we will periodically review the authorization to assess its continued appropriateness in light of our capital allocation priorities and market conditions. The number of shares repurchased and the timing of repurchases depend on the level of our cash balances, general business and market conditions and other factors, including alternative investment opportunities.

During the three and six months ended December 2025, we repurchased $36.4 million and $43.6 million of our common stock, respectively, and $106.4 million remains available for future stock repurchases under the stock repurchase program.


	Three Months Ended				Six Months Ended
	December				December
	2025		2024		2025		2024
Cost of revenue	$	0.2	$	0.3	$	0.6	$	(2.4)
Research and development	21.6		15.6		42.4		30.1
Selling, general, and administrative	16.9		18.7		32.4		34.1
Total	$	38.7	$	34.6	$	75.4	$	61.8


	RSU Awards Outstanding	Weighted-Average Grant Date Fair Value per Share
Balance as of June 2025	3.0	$	66.3
Granted	1.6	$	66.9
Vested	(0.7)	$	83.7
Forfeited	(0.1)	$	76.0
Balance as of December 2025	3.8	$	63.1

The unrecognized share-based compensation cost of our outstanding RSUs was approximately $197.4 million as of December 2025, which will be recognized over a weighted average period of approximately 1.86 years.

An MSU is a promise to deliver shares of our common stock at a future date based on the achievement of market-based performance requirements in accordance with the terms of the MSU grant agreement.


	MSU Awards Outstanding	Weighted-Average Grant Date Fair Value per Share
Balance as of June 2025	0.1	$	179.1
Granted	0.1	$	100.0
Delivered	—	$	187.0
Forfeited	—	$	174.9
Balance as of December 2025	0.2	$	127.8

We value MSUs using a Monte Carlo simulation model on the date of grant and amortize the compensation expense over the three-year performance and service period on a ratable basis by tranche. The unrecognized share-based compensation cost of our outstanding MSUs was approximately $16.1 million as of December 2025, which will be recognized over a weighted average period of approximately 1.90 years.

A PSU is a promise to deliver shares of our common stock at a future date based on the achievement of performance-based requirements in accordance with the terms of the PSU grant agreement.


	PSU Awards Outstanding	Weighted-Average Grant Date Fair Value per Share
Balance as of June 2025	0.2	$	81.5
Granted	0.2	$	73.8
Delivered	(0.1)	$	76.5
Forfeited	—	$	92.7
Balance as of December 2025	0.3	$	75.6

We value PSUs using the intrinsic value on the date of grant adjusted for estimated performance achievement during the performance period and amortize the compensation expense over the three-year service period on a ratable basis. The amount of stock-based compensation expense recognized in any period related to PSUs can vary based on the achievement or anticipated achievement of the performance conditions. If the performance conditions are not met, or not expected to be met, no compensation cost would be recognized on the underlying PSUs, and any previously recognized compensation expense related to those PSUs would be reversed. The unrecognized share-based compensation cost of our outstanding PSUs was approximately $14.9 million as of December 2025, which will be recognized over a weighted average period of approximately 1.24 years.

Shares purchased, weighted average purchase price, cash received, and the aggregate intrinsic value for employee stock purchase plan purchases during the six months ended December 2025, were as follows: