Income Taxes (Tables)

12 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) before Income Tax, Domestic and Foreign

Income (loss) before income taxes is as follows (in thousands):

	Year Ended
	June 30,			June 30,			June 30,
	2023			2022			2021
Domestic	$	(2,179	)	$	(1,204	)	$	(4,194	)
Foreign		96,285			53,398			14,379
Income before income taxes	$	94,106		$	52,194		$	10,185

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes for the years ended June 30, 2023, 2022 and 2021 consisted of the following (in thousands):

	Year Ended
	June 30,			June 30,			June 30,
	2023			2022			2021
Current:
Federal	$	3,221		$	—		$	—
State		3,640			1,069			1,160
Foreign		9,086			6,460			5,334
Total current		15,947			7,529			6,494
Deferred:
Federal		368			396			324
State		433			227			1,169
Foreign		(716	)		(229	)		262
Total deferred		85			394			1,755
Provision for income taxes	$	16,032		$	7,923		$	8,249

Schedule of Effective Income Tax Rate Reconciliation

The difference between the provision for income taxes and the amount computed by applying the federal statutory income tax rate (21 percent) to income before income taxes is explained below (in thousands):

	Year Ended
	June 30,			June 30,			June 30,
	2023			2022			2021
Tax at federal statutory rate	$	19,762		$	10,960		$	2,139
State income tax, net of federal benefit		3,003			844			917
Global intangible low-taxed income		22,721			15,470			—
US valuation allowance change – deferred tax movement		(24,682	)		(15,264	)		(9,387	)
Research and development credits		(1,503	)		(3,122	)		(2,423	)
Tax impact of foreign earnings		(5,627	)		(3,762	)		11,979
Foreign withholding taxes		1,082			1,032			828
Stock based compensation		(1,980	)		(5,011	)		1,162
Goodwill amortization		730			525			1,467
Nondeductible officer compensation		4,582			5,691			1,496
Nondeductible meals and entertainment		324			193			71
Foreign tax credits		(2,380	)		367			—
Provision for income taxes	$	16,032		$	7,923		$	8,249

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets are as follows (in thousands):

	June 30,
	2023			2022
Deferred tax assets:
Net operating loss carry-forwards	$	21,553		$	51,494
Tax credit carry-forwards		57,841			70,683
Depreciation		1,899			2,093
Intangible amortization		20,652			25,725
Deferred revenue		19,698			15,928
Inventory write-downs		13,616			13,121
Other allowances and accruals		38,391			23,961
Stock based compensation		6,332			2,746
Deferred intercompany gain		3,693			3,693
Ireland goodwill amortization		4,862			5,583
Capitalization of research and development		19,062			3,813
Operating lease liability		6,303			7,203
Other		634			244
Total deferred tax assets		214,536			226,287
Valuation allowance		(195,297	)		(209,727	)
Total net deferred tax assets		19,239			16,560
Deferred tax liabilities:
Goodwill amortization		(12,471	)		(10,415	)
Operating lease right of use asset		(4,543	)		(4,656	)
Prepaid commissions		(4,899	)		(3,931	)
Deferred tax liability on foreign withholdings		(747	)		(676	)
Total deferred tax liabilities		(22,660	)		(19,678	)
Net deferred tax liabilities	$	(3,421	)	$	(3,118	)
Recorded as:
Net non-current deferred tax assets		4,326			4,599
Net non-current deferred tax liabilities		(7,747	)		(7,717	)
Net deferred tax liabilities	$	(3,421	)	$	(3,118	)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of total unrecognized tax benefits is as follows (in thousands):

Balance at June 30, 2020	$	23,897
Decrease related to prior year tax positions		(4,296	)
Increase related to prior year tax positions		28
Increase related to current year tax positions		72
Lapse of statute of limitations		(637	)
Balance at June 30, 2021	$	19,064
Decrease related to prior year tax positions		(34	)
Increase related to current year tax positions		11
Lapse of statute of limitations		(674	)
Balance at June 30, 2022	$	18,367
Decrease related to prior year tax positions		(21	)
Increase related to prior year tax positions		1
Increase related to current year tax positions		15
Lapse of statute of limitations		(65	)
Balance at June 30, 2023	$	18,297