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Stock-based Compensation (Tables)

12 Months Ended

Jun. 30, 2021

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of stock-based compensation expense

​

​	​	​	​	​	​	​
​	​	Year ended June 30,
​		2021			2020
​	​	in thousands
​	​	​	​	​	​	​
Stock options (a)	​	$	45,387	​	$	543
Profits interests units	​		1,629	​		—
Restricted stock units	​	​	35	​	​	—
Total stock-based compensation expense	​	$	47,051	​	$	543

​

(a) The amount for 2021 relates to stock-based compensation expense recognized as a result of the Cancellation Agreement transaction, as defined and described below.

Summary of weighted-average assumptions

​

​	​	​	​	​
​		2020
Expected volatility	​	​	34.9% - 39.3	%
Expected life (years)	​	​	5.8 - 6.2	​
Interest rate		​	0.51% - 1.8	%
Dividend yield		​	—	%
Weighted-average fair value	​	$	0.48	​
Fair value of underlying stock	​	$	4.82	​

Summary of stock option activity

​

​	​	​	​	​	​	​	​	​	​
​		​		​		Weighted			Average
​	​	Number of	​	Option	​	average		​	remaining
Time-based option awards	​	options	​	price range	​	exercise price		​	term (in years)
​	​	​	​	​	​	​	​	​	​
Outstanding balance, June 30, 2020		8,497,488	​	$1.00 - $2.35	​	$	1.26		6.76
Canceled		(8,497,488)	​	$1.00 - $2.35	​	$	1.26		6.76
Outstanding balance, June 30, 2021		—	​	​	​	​	​	​	​

​

​	​	​	​	​	​	​	​
​		​		Weighted			Average
​	​	Number of	​	average		​	remaining
Performance-based option awards	​	options	​	exercise price		​	term (in years)
​	​	​	​	​	​	​	​
Outstanding balance, June 30, 2020		8,497,488	​	$	0.78		6.76
Canceled		(8,497,488)	​	$	0.78		6.76
Outstanding balance, June 30, 2021		—	​		​		​

Summary of profits interests transactions and number of units outstanding

​

​	​	​	​	​	​
​		​			​
​	​	Number of	​	Weighted average
Time-based unit awards	​	units	​	grant date fair value
​	​	​	​	​	​
Outstanding balance, June 30, 2020		—	​	$	—
Granted	​	6,686,568	​	$	1.28
Forfeited		(99,307)	​	$	1.17
Outstanding balance, June 30, 2021		6,587,261	​	$	1.28

​

​	​	​	​	​	​
​	​	Number of	​	Weighted average
Performance-based unit awards	​	units	​	grant date fair value
​	​	​	​	​	​
Outstanding balance, June 30, 2020		—	​	$	—
Granted	​	6,322,569	​	$	0.57
Forfeited		(99,307)	​	$	0.44
Outstanding balance, June 30, 2021		6,223,262	​	$	0.57

Summary of restricted stock units activity

​

​	​	​	​	​	​
​	​	​	​	​	Weighted
​		​		​	average
​	​	Number of	​	​	grant-date fair
Restricted stock units	​	awards	​	​	value per share
​	​	​	​	​	​
Outstanding balance, June 30, 2020		—	​	$	—
Granted		48,470	​	$	22.87
Outstanding balance, June 30, 2021		48,470	​	$	22.87

2020 Equity Incentive Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of weighted-average assumptions

​

​	​	​	​	​
​		2021
Expected volatility	​	​	44	%
Expected life (years) - time vesting units	​	​	1.8	​
Interest rate		​	0.16	%
Dividend yield		​	—	%
Weighted-average fair value	​	$	1.28	​
Fair value of underlying stock	​	$	5.49	​

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Tabular disclosure of activity for outstanding award under share-based payment arrangement excluding share and unit options and nonvested award.

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