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Stock Benefit Plans (Tables)
9 Months Ended
Mar. 31, 2022
Stock options [Member]  
Schedule of Weighted Average Assumptions

The Company estimates the fair value of stock options at the date of grant using the Black-Scholes option-pricing model. Options are granted with an exercise price equal to the closing price of the Company’s common stock on the date of grant. The weighted-average Black-Scholes model assumptions for the three and nine months ended March 31, 2022 and 2021 were as follows:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

March 31,

 

 

March 31,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Expected term (in years)

 

 

3.5

 

 

 

3.5

 

 

 

4.4

 

 

 

4.4

 

Expected volatility

 

 

57

%

 

 

62

%

 

 

58

%

 

 

62

%

Expected dividend yield

 

 

 

 

 

 

 

 

 

 

 

 

Risk-free interest rate

 

 

1.3

%

 

 

0.2

%

 

 

0.9

%

 

 

0.3

%

Grant date fair value

 

$

4.61

 

 

$

10.76

 

 

$

8.35

 

 

$

5.99

 

Employee Stock Purchase Plan [Member]  
Schedule of Fair Value of Purchase Rights

The fair value of the purchase rights for the ESPP are estimated on the date of grant using the Black-Scholes model with the following assumptions:

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

March 31, 2022

 

 

March 31, 2022

 

Expected term (in years)

 

0.5 - 2.0

 

 

0.5 - 2.0

 

Expected volatility

 

48% - 64%

 

 

48% - 64%

 

Expected dividend yield

 

 

 

 

 

 

Risk-free interest rate

 

0.3% - 1.0%

 

 

0.3% - 1.0%

 

Grant date fair value

 

$3.72 - $5.33

 

 

$3.72 - $5.33