XML 76 R48.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Summary of Significant Accounting Policies (Details) - USD ($)
$ / shares in Units, $ in Thousands
12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2022
Accounting Policies [Line Items]      
Restricted Cash $ 563 $ 558  
Capitalized Computer Software, Amortization 62,590 57,086 $ 54,646
Capitalized Computer Software, Accumulated Amortization 286,605 279,490  
Impairment of goodwill 0 5,609 0
Advertising Expense 436,494 417,886 408,566
Research and Development Expense 62,655 58,819 56,996
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [1] 3,915 3,311 58,148
Foreign Currency Transaction Gain (Loss), Realized [2] (2,818) 16,350 244
Other Nonoperating Gains (Losses) 486 (1,163) 3,071
Other income, net 1,583 18,498 61,463
Realized gain (loss) on derivatives not designated as hedging instruments $ (1,078) $ 39,133 $ 9,955
Class of Warrant or Right, Exercise Price of Warrants or Rights $ 60    
Net Income (Loss) Per Share Attributable to Cimpress plc [Line Items]      
Weighted average shares outstanding — basic 26,151,968 26,252,860 26,094,842
Weighted average shares issuable upon exercise/vesting of outstanding share options/RSUs/warrants (1)(2) [3] 852,719    
Weighted average shares outstanding — diluted 27,004,687 26,252,860 26,094,842
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount [3],[4] 96,207 2,834,351 762,086
Warrant [Member]      
Net Income (Loss) Per Share Attributable to Cimpress plc [Line Items]      
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements 220,668   138,088
Foreign Exchange Forward [Member]      
Accounting Policies [Line Items]      
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net $ 3,915 $ 3,311 $ 51,784
Interest Rate Swap [Member]      
Accounting Policies [Line Items]      
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net $ 0 $ 0 $ 6,364
[1] Includes realized and unrealized gains and losses on derivative currency forward and option contracts not designated as hedging instruments, as well as the ineffective portion of certain interest rate swap contracts that have been de-designated from hedge accounting. For contracts not designated as hedging instruments, we realized (losses) gains of ($1,078), $39,133 and $9,955, respectively, for the fiscal years ended June 30, 2024, 2023 and 2022. Refer to Note 4 for additional details relating to our derivative contracts.
[2] Currency-related (losses) gains, net primarily relates to significant non-functional currency intercompany financing relationships that we may change at times and are subject to currency exchange rate volatility. In addition, during all fiscal years presented, we had certain cross-currency swaps designated as cash flow hedges, which hedge the remeasurement of certain intercompany loans; refer to Note 4 for additional details relating to these cash flow hedges.
[3] In the periods in which a net loss is recognized, the impact of share options, PSUs, RSUs and warrants is excluded from shares used in computed diluted net income (loss) per share as it is anti-dilutive. Any equity awards that have a performance condition are not included in dilutive or anti-dilutive shares until the performance condition would have been met as of the end of the reporting period.
[4] On May 1, 2020, we entered into a financing arrangement, which included 7-year warrants to purchase 1,055,377 of our ordinary shares with a strike price of $60 that have a potentially dilutive impact on our weighted average shares outstanding. For the years ended June 30, 2024 and 2022, the average market price of our ordinary shares was higher than the strike price of the warrants. The weighted average dilutive effect of the warrants was 220,668 for the year ended June 30, 2024 and for the year ended June 30, 2022, due to our net loss position, 138,088 outstanding warrants were considered anti-dilutive. For the year ended June 30, 2023, the average share price was below the strike price for the full fiscal year; therefore, the total 1,055,377 outstanding warrants were considered anti-dilutive.