Employee Benefit Plans (Tables)

9 Months Ended

Mar. 31, 2024

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):

	March 31, 2024		June 30, 2023
2013 Equity Incentive Plan shares available for grant		12,973		9,995
Employee stock options and awards outstanding		8,291		10,038
2014 Employee Stock Purchase Plan		7,130		8,467
Total shares reserved for issuance		28,394		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				Nine Months Ended
	March 31, 2024		March 31, 2023		March 31, 2024		March 31, 2023
Cost of product revenues	$	405	$	492	$	1,352	$	1,365
Cost of subscription and support revenues		679		930		2,294		2,568
Research and development		4,226		3,883		13,038		10,935
Sales and marketing		5,683		5,777		20,206		16,326
General and administrative		6,840		4,294		21,819		15,367
Total share-based compensation expense	$	17,833	$	15,376	$	58,709	$	46,561

Summary of Stock Option Activity

The following table summarizes stock option activity for the nine months ended March 31, 2024 (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		(114	)		6.40
Canceled		—			—
Options outstanding at March 31, 2024		1,073		$	6.58		2.00	$	5,326
Vested and expected to vest at March 31, 2024		1,073		$	6.58		2.00	$	5,326
Exercisable at March 31, 2024		1,073		$	6.58		2.00	$	5,326

Summary of Stock Award Activity

The following table summarizes stock award activity for the nine months ended March 31, 2024 (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		3,939			27.78
Released		(4,735	)		12.65
Canceled		(837	)		19.54
Non-vested stock awards outstanding at March 31, 2024		7,218		$	22.07	$	159,301
Stock awards expected to vest at March 31, 2024		7,218		$	22.07	$	159,301

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						Employee Stock Purchase Plan
	Three Months Ended						Nine Months Ended
	March 31, 2024			March 31, 2023			March 31, 2024			March 31, 2023
Expected term	0.5 years			0.5 years			0.5 years			0.5 years
Risk-free interest rate		5.31	%		4.98	%		5.42	%		3.84	%
Volatility		52	%		49	%		47	%		55	%
Dividend yield		—	%		—	%		—	%		—	%