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Fair Value Measurements (Tables)
12 Months Ended
Jun. 30, 2018
Fair Value Disclosures [Abstract]  
Schedule of Fair Value for Financial Assets and Liabilities Measured on Recurring Basis

The following table presents the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis (in thousands):

June 30, 2018

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Marketable securities

 

$

1,459

 

 

$

 

 

$

 

 

$

1,459

 

Total assets measured at fair value

 

$

1,459

 

 

$

 

 

$

 

 

$

1,459

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Acquisition-related contingent consideration obligations

 

$

 

 

$

 

 

$

12,749

 

 

$

 

Total liabilities measured at fair value

 

$

 

 

$

 

 

$

12,749

 

 

$

 

 

June 30, 2017

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

4,291

 

 

$

 

 

$

 

 

$

4,291

 

Investment in non-marketable equity

 

 

 

 

 

 

 

 

3,000

 

 

 

3,000

 

Total assets measured at fair value

 

$

4,291

 

 

$

 

 

$

3,000

 

 

$

7,291

 

 

Schedule of Change in Acquisition-related Contingent Consideration Obligations

The change in the acquisition-related contingent consideration obligations is as follows (in thousands):

 

 

Year Ended

 

 

 

June 30, 2018

 

Beginning balance

 

$

 

Initial fair value measurements

 

 

47,030

 

Payments

 

 

(671

)

Resolution of contingency

 

 

(36,980

)

Accretion on discount

 

 

3,134

 

Change in fair value

 

 

236

 

Ending balance

 

$

12,749