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Balance Sheet Components
 12 Months Ended
Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Components

5. Balance Sheet Components

Accounts Receivable, Net

The following table summarizes the Company's accounts receivable (in thousands):

 

 

June 30,
2023

 

 

June 30,
2022

 

Accounts receivable

 

$

440,298

 

 

$

368,778

 

Customer rebates

 

 

(222,246

)

 

 

(163,953

)

Allowance for credit losses

 

 

(882

)

 

 

(695

)

Allowance for product returns

 

 

(35,125

)

 

 

(20,033

)

Accounts receivable, net

 

$

182,045

 

 

$

184,097

 

 

The following table summarizes the Company's allowance for credit losses (in thousands):

Description

 

Balance at
beginning of
period

 

 

Provision for expected credit losses

 

 

Deductions (1)

 

 

Balance at
end of period

 

Year Ended June 30, 2023:

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for credit losses

 

$

695

 

 

$

464

 

 

$

(277

)

 

$

882

 

Year Ended June 30, 2022:

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for credit losses

 

$

986

 

 

$

39

 

 

$

(330

)

 

$

695

 

Year Ended June 30, 2021:

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for credit losses

 

$

1,212

 

 

$

409

 

 

$

(635

)

 

$

986

 
(1)
Uncollectible accounts written off, net of recoveries.

The following table summarizes the Company’s allowance for product returns (in thousands):

 

Description

 

Balance at
beginning of
period

 

 

Additions

 

 

Deductions

 

 

Balance at
end of period

 

Year Ended June 30, 2023:

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for product returns

 

$

20,033

 

 

$

104,028

 

 

$

(88,936

)

 

$

35,125

 

Year Ended June 30, 2022:

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for product returns

 

$

17,371

 

 

$

67,407

 

 

$

(64,745

)

 

$

20,033

 

Year Ended June 30, 2021:

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for product returns

 

$

27,963

 

 

$

67,113

 

 

$

(77,705

)

 

$

17,371

 

 

 

Inventories, Net

The following table summarizes the Company’s inventory by category (in thousands):

 

 

 

June 30,
2023

 

 

June 30,
2022

 

Finished goods

 

$

78,180

 

 

$

40,733

 

Raw materials

 

 

10,844

 

 

 

8,498

 

Total inventories

 

$

89,024

 

 

$

49,231

 

 

Property and Equipment, Net

The following table summarizes the Company’s property and equipment by category (in thousands):

 

 

 

June 30,
2023

 

 

June 30,
2022

 

Computers and equipment

 

$

81,612

 

 

$

75,387

 

Purchased software

 

 

51,444

 

 

 

47,161

 

Office equipment, furniture and fixtures

 

 

8,899

 

 

 

9,463

 

Leasehold improvements

 

 

48,943

 

 

 

52,564

 

Total property and equipment

 

 

190,898

 

 

 

184,575

 

Less: accumulated depreciation and amortization

 

 

(144,450

)

 

 

(134,997

)

Property and equipment, net

 

$

46,448

 

 

$

49,578

 

 

The Company recognized depreciation expense of $19.5 million, $19.8 million, and $23.0 million related to property and equipment during the years ended June 30, 2023, 2022 and 2021, respectively.

Deferred Revenue

The following table summarizes the Company's contract liabilities which are shown as deferred revenue (in thousands):

 

 

 

June 30,
2023

 

 

June 30,
2022

 

Deferred maintenance, support, and SaaS

 

$

486,075

 

 

$

393,289

 

Other deferred revenue

 

 

15,424

 

 

 

8,330

 

Total deferred revenue

 

 

501,499

 

 

 

401,619

 

Less: current portion

 

 

282,475

 

 

 

238,262

 

Non-current deferred revenue

 

$

219,024

 

 

$

163,357

 

 

Accrued Warranty

The following table summarizes the activity related to the Company’s product warranty liability during the following periods (in thousands):

 

 

Year Ended

 

 

June 30,
2023

 

 

June 30,
2022

 

 

June 30,
 2021

 

Balance beginning of period

$

10,852

 

 

$

11,623

 

 

$

14,035

 

Warranties assumed due to acquisition

 

—

 

 

 

41

 

 

 

—

 

New warranties issued

 

15,463

 

 

 

13,314

 

 

 

11,760

 

Warranty expenditures

 

(13,993

)

 

 

(14,126

)

 

 

(14,172

)

Balance end of period

$

12,322

 

 

$

10,852

 

 

$

11,623