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Employee Benefit Plans (Tables)
6 Months Ended
Dec. 31, 2018
Share Based Compensation [Abstract]  
Shares Reserved for Issuance

The Company had reserved for issuance for the periods noted (in thousands):

 

 

 

December 31,

2018

 

 

June 30,

2018

 

2013 Equity Incentive Plan shares available for grant

 

 

7,558

 

 

 

9,957

 

Employee stock options and awards outstanding

 

 

11,577

 

 

 

12,060

 

2014 Employee Stock Purchase Plan

 

 

4,084

 

 

 

5,365

 

Total shares reserved for issuance

 

 

23,219

 

 

 

27,382

 

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

 

 

Six Months Ended

 

 

 

December 31,

2018

 

 

December 31,

2017

 

 

December 31,

2018

 

 

December 31,

2017

 

Cost of product revenue

 

$

217

 

 

$

134

 

 

$

395

 

 

$

226

 

Cost of service revenue

 

 

677

 

 

 

296

 

 

 

1,022

 

 

 

429

 

Research and development

 

 

2,797

 

 

 

1,829

 

 

 

5,139

 

 

 

2,880

 

Sales and marketing

 

 

2,983

 

 

 

2,699

 

 

 

5,342

 

 

 

4,342

 

General and administrative

 

 

2,026

 

 

 

2,067

 

 

 

3,627

 

 

 

3,951

 

Total share-based compensation expense

 

$

8,700

 

 

$

7,025

 

 

$

15,525

 

 

$

11,828

 

Summary of Stock Award Activity

The following table summarizes stock award activity for the six months ended December 31, 2018 (in thousands, except grant date fair value):

 

 

 

Number of Shares

 

 

Weighted- Average Grant Date Fair Value

 

 

Aggregate Fair Market Value

 

Non-vested stock awards outstanding at June 30, 2018

 

 

7,764

 

 

$

8.60

 

 

$

61,804

 

Granted

 

 

4,042

 

 

 

6.40

 

 

 

 

 

Released

 

 

(2,271

)

 

 

7.75

 

 

 

 

 

Cancelled

 

 

(738

)

 

 

8.66

 

 

 

 

 

Non-vested stock awards outstanding at December 31, 2018

 

 

8,797

 

 

$

7.80

 

 

$

53,661

 

Summary of Stock Option Activity

 

The following table summarizes stock option activity for the six months ended December 31, 2018 (in thousands, except per share 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, 2018

 

 

2,193

 

 

$

3.88

 

 

 

2.90

 

 

$

8,996

 

Granted

 

 

852

 

 

 

6.40

 

 

 

 

 

 

 

 

 

Exercised

 

 

(178

)

 

 

3.56

 

 

 

 

 

 

 

 

 

Cancelled

 

 

(87

)

 

 

6.01

 

 

 

 

 

 

 

 

 

Options outstanding at December 31, 2018

 

 

2,780

 

 

$

4.60

 

 

 

3.70

 

 

$

4,414

 

Vested and expected to vest at December 31, 2018

 

 

2,780

 

 

$

4.60

 

 

 

3.70

 

 

$

4,414

 

Exercisable at December 31, 2018

 

 

1,962

 

 

$

3.94

 

 

 

2.53

 

 

$

4,234

 

Schedule of Fair Value Assumptions for Stock Options and Employee Stock Purchase Plan Awards The following assumptions were used to calculate the fair value of shares granted under the ESPP during the following periods:

 

 

 

Employee Stock Purchase Plan

 

 

 

Six Months Ended

 

 

 

December 31,

2018

 

 

December 31,

2017

 

Expected life

 

0.5 years

 

 

0.5 years

 

Risk-free interest rate

 

 

2.20

%

 

 

1.15

%

Volatility

 

 

63

%

 

 

42

%

Dividend yield

 

 

%

 

 

%