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Employee Benefit Plans (Tables)
6 Months Ended
Dec. 31, 2019
Share Based Compensation [Abstract]  
Shares Reserved for Issuance

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

 

 

 

December 31,

2019

 

 

June 30,

2019

 

2013 Equity Incentive Plan shares available for grant

 

 

10,435

 

 

 

8,462

 

Employee stock options and awards outstanding

 

 

13,541

 

 

 

10,455

 

2014 Employee Stock Purchase Plan

 

 

8,862

 

 

 

10,085

 

Total shares reserved for issuance

 

 

32,838

 

 

 

29,002

 

Schedule of Recognized Share-based Compensation Expense

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,

2019

 

 

December 31,

2018

 

 

December 31,

2019

 

 

December 31,

2018

 

Cost of product revenue

 

$

402

 

 

$

217

 

 

$

652

 

 

$

395

 

Cost of service revenue

 

 

505

 

 

 

677

 

 

 

852

 

 

 

1,022

 

Research and development

 

 

3,260

 

 

 

2,797

 

 

 

5,695

 

 

 

5,139

 

Sales and marketing

 

 

3,511

 

 

 

2,983

 

 

 

7,230

 

 

 

5,342

 

General and administrative

 

 

2,801

 

 

 

2,026

 

 

 

4,884

 

 

 

3,627

 

Integration costs

 

 

479

 

 

 

 

 

 

479

 

 

 

 

Total share-based compensation expense

 

$

10,958

 

 

$

8,700

 

 

$

19,792

 

 

$

15,525

 

Summary of Stock Award Activity

The following table summarizes stock award activity for the six months ended December 31, 2019 (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, 2019

 

 

7,736

 

 

$

7.67

 

 

 

 

 

Granted

 

 

6,017

 

 

 

6.86

 

 

 

 

 

Released

 

 

(2,474

)

 

 

7.08

 

 

 

 

 

Cancelled

 

 

(890

)

 

 

7.08

 

 

 

 

 

Non-vested stock awards outstanding at December 31, 2019

 

 

10,389

 

 

$

7.39

 

 

$

76,570

 

Vested and expected to vest at December 31, 2019

 

 

9,729

 

 

$

7.30

 

 

$

71,705

 

Summary of Stock Option Activity

 

The following table summarizes stock option activity for the six months ended December 31, 2019 (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, 2019

 

 

2,719

 

 

$

4.61

 

 

 

3.26

 

 

$

5,070

 

Granted

 

 

637

 

 

 

6.70

 

 

 

 

 

 

 

 

 

Exercised

 

 

(181

)

 

 

4.55

 

 

 

 

 

 

 

 

 

Cancelled

 

 

(23

)

 

 

4.75

 

 

 

 

 

 

 

 

 

Options outstanding at December 31, 2019

 

 

3,152

 

 

$

5.03

 

 

 

3.66

 

 

$

7,374

 

Vested and expected to vest at December 31, 2019

 

 

3,152

 

 

$

5.03

 

 

 

3.66

 

 

$

7,374

 

Exercisable at December 31, 2019

 

 

1,735

 

 

$

3.80

 

 

 

1.65

 

 

$

6,194

 

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,

2019

 

 

December 31,

2018

 

Expected life

 

0.5 years

 

 

0.5 years

 

Risk-free interest rate

 

 

1.85

%

 

 

2.20

%

Volatility

 

 

43

%

 

 

63

%

Dividend yield

 

 

%

 

 

%