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Shareholders' Equity (Tables)

3 Months Ended

Sep. 30, 2020

Equity [Abstract]

Schedule of Stock by Class

As of September 30, 2020, the Company has reserved the following authorized, but unissued, shares of common stock:

Employee Stock Purchase Plan ("ESPP")						1,400,000
Stock awards outstanding under 2020 Plan						1,858,343
Stock awards available for grant under 2020 Plan						7,741,657
Options outstanding under 2003 Plan						3,265,989
Options available for grant under 2003 Plan						—
Total						14,265,989

Schedule of Share-Based Compensation Activity

Total share-based compensation included in general and administrative expense in our consolidated statements of comprehensive income was as follows:

						Three Months Ended September 30,
(in thousands)						2020						2019
Share-based compensation related to:
Equity classified stock options						$	362					22
Equity classified restricted stock units						415						—
Equity classified performance stock units						128						—
Total share-based compensation						$	905					$	22

Schedule of Stock Options, Valuation Assumptions

The Company used the following weighted-average assumptions for the stock options granted during the three months ended September 30, 2020. There were no stock options granted during the three months ended September 30, 2019.

			2020
Volatility			25.0%
Risk-free interest rate			0.3%
Dividend yield			—%
Assumed forfeitures			—%
Expected lives (in years)			6.25
Weighted-average fair value (per share)			$4.84

Schedule of Stock Options Roll Forward

The following table summarizes stock option activity under the Stock Plans for the three months ended September 30, 2020:

			Number of Options			Weighted- Average Exercise Price			Weighted- Average Remaining Contractual Term (in Years)			Aggregate Intrinsic Value (in Thousands)
Outstanding—June 30, 2020			4,067,417			$	2.69
Options granted			993,675			19.09
Options exercised			(440,428)			0.86
Options forfeited/expired/cancelled			—			—
Outstanding—September 30, 2020			4,620,664			$	6.39		5.92			$	64,536
Vested and exercisable—September 30, 2020			2,970,757			$	0.91		3.94			$	57,469

Schedule of Restricted Stock Unit Activity

The following table summarizes restricted stock unit activity under the 2020 Stock Plan for the three months ended September 30, 2020:

			Number of Restricted Stock Units						Weighted-Average Grant Date Fair Value
Unvested as of June 30, 2020			150,000						$	20.00
Granted			221,294						17.94
Vested			—
Cancelled			—
Unvested as of September 30, 2020			371,294						$	18.77

Schedule of Performance Stock Activity

The following table summarizes performance stock unit activity under the 2020 Stock Plan for the three months ended September 30, 2020:

			Number of Performance Stock Units						Weighted-Average Grant Date Fair Value
Unvested as of June 30, 2020			—
Granted			132,374						$	17.92
Vested			—
Cancelled			—
Unvested as of September 30, 2020			132,374						$	17.92

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