Employee Benefit Plans (Tables)

3 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Common Stock Reserved for Future Issuance

The Company had the following reserved shares of common stock for future issuance as of the dates noted (in thousands):

	September 30, 2023		June 30, 2023
2013 Equity Incentive Plan shares available for grant		7,409		9,995
Employee stock options and awards outstanding		9,656		10,038
2014 Employee Stock Purchase Plan		7,948		8,467
Total shares reserved for issuance		25,013		28,500

Schedule of Recognized Share-based Compensation Expense

Share-based compensation expense recognized in the condensed consolidated financial statements by line-item caption is as follows (in thousands):

	Three Months Ended
	September 30, 2023		September 30, 2022
Cost of product revenues	$	483	$	374
Cost of subscription and support revenues		866		672
Research and development		4,377		3,090
Sales and marketing		6,988		4,639
General and administrative		7,205		5,014
Total share-based compensation expense	$	19,919	$	13,789

Summary of Stock Option Activity

The following table summarizes stock option activity for the three months ended September 30, 2023 (in thousands, except per share amount and contractual term):

	Number of Shares		Weighted-Average Exercise Price Per Share		Weighted-Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Options outstanding at June 30, 2023		1,187	$	6.56		2.70	$	23,136
Granted		—		—
Exercised		—		—
Canceled		—		—
Options outstanding at September 30, 2023		1,187	$	6.56		2.45	$	20,952
Vested and expected to vest at September 30, 2023		1,187	$	6.56		2.45	$	20,952
Exercisable at September 30, 2023		1,187	$	6.56		2.45	$	20,952

Summary of Stock Award Activity

The following table summarizes stock award activity for the three months ended September 30, 2023 (in thousands, except grant date fair value):

	Number of Shares			Weighted- Average Grant Date Fair Value		Aggregate Fair Value
Non-vested stock awards outstanding at June 30, 2023		8,851		$	14.25
Granted		3,126			30.69
Exercised		(3,335	)		12.33
Canceled		(173	)		14.53
Non-vested stock awards outstanding at September 30, 2023		8,469		$	21.06	$	205,023
Stock awards expected to vest at September 30, 2023		8,469		$	21.06	$	205,023

Schedule of Awards Performance Thresholds and Shares Expected to Vest (TSR PSUs)

The MSU award represents the right to receive a target number of shares of common stock of up to 150% of the original grant, as indicated in the table below. The MSUs vest based on the Company’s TSR relative to the TSR of the Index over performance periods of three years from the grant date, subject to the grantees’ continued service through the certification of performance.

Level	Relative TSR	Shares Vested
Below Threshold	TSR is less than the Index by more than 37.5 percentage points	0%
Threshold	TSR is less than the Index by 37.5 percentage points	25%
Target	TSR equals the Index	100%
Maximum	TSR is greater than the Index by 25 percentage points or more	150%

Schedule of Fair Value Assumptions for Employee Stock Purchase Plan Awards

The following assumptions were used to determine the grant-date fair values of the ESPP shares during the following periods:

	Employee Stock Purchase Plan
	Three Months Ended
	September 30, 2023			September 30, 2022
Expected term	0.5 years			0.5 years
Risk-free interest rate		5.54	%		3.12	%
Volatility		42	%		60	%
Dividend yield		—	%		—	%