Business Combinations (Tables)

12 Months Ended

Jun. 30, 2022

Summary of Unaudited Pro Forma Financial Information

The following table summarizes the unaudited pro forma financial information (in thousands, except per share amounts):

	Year Ended
	June 30, 2022		June 30, 2021
Net revenues	$	1,115,942	$	1,031,825
Net income (loss)	$	53,659	$	(6,755	)
Net income (loss) per share - basic	$	0.41	$	(0.05	)
Net income (loss) per share - diluted	$	0.40	$	(0.05	)
Shares used in per share calculation - basic		129,437		124,019
Shares used in per share calculation - diluted		133,494		124,019

Ipanema

Summary of Allocation of Tangible and Identifiable Intangible Assets Acquired and Liabilities Assumed

The purchase price allocation is set forth in the table below and reflects estimated fair values (in thousands):

	Preliminary Allocation as of September 14, 2021			Adjustments				Final Allocation as of June 30, 2022
Cash and cash equivalents	$	1,364		$	—			$	1,364
Accounts receivable, net		1,440			(6	)	a		1,434
Inventories		337			(63	)	a		274
Prepaid expenses and other current assets		1,841			(1,231	)	a		610
Property and equipment		46			—				46
Other assets		21			—				21
Accounts payable		(1,220	)		244		a		(976	)
Accrued compensation and benefits		(2,304	)		467		a		(1,837	)
Accrued warranty		(41	)		—				(41	)
Other accrued liabilities		(71	)		(51	)	a		(122	)
Deferred revenue		(2,758	)		(7,376	)	a,b		(10,134	)
Deferred taxes		-			(4,320	)	c		(4,320	)
Other liabilities		(723	)		—				(723	)
Net tangible liabilities		(2,068	)		(12,336	)			(14,404	)
Identifiable intangible assets		16,300			—				16,300
Goodwill		56,649			12,336		a,b,c		68,985
Total intangible assets acquired		72,949			12,336				85,285
Total net assets acquired	$	70,881		$	—			$	70,881

Schedule of Identifiable Intangible Assets Acquired as Part of Acquisition

The following table presents details of the identifiable intangible assets acquired as part of the acquisition (in thousands):

Intangible Assets	Weighted Average Estimated Useful Life (in years)		Amount
Developed technologies		6	$	14,500
Customer relationships		4		1,800
Total identifiable intangible assets			$	16,300

Aerohive Networks, Inc.

Summary of Allocation of Tangible and Identifiable Intangible Assets Acquired and Liabilities Assumed

The purchase price allocation is set forth in the table below and reflects estimated fair values (in thousands).

	Final Allocation as of June 30, 2020
Cash and cash equivalents	$	44,158
Short-term investments		45,148
Accounts receivable, net		11,753
Inventories		19,232
Prepaid expenses and other current assets		3,924
Property and equipment		2,364
Operating lease right-of-use assets		6,336
Other assets		2,195
Debt		(20,000	)
Accounts payable		(9,737	)
Accrued compensation and benefits		(7,129	)
Accrued warranty		(570	)
Other accrued liabilities		(1,960	)
Operating lease liabilities		(4,752	)
Deferred revenue		(68,415	)
Other liabilities		(483	)
Net tangible assets		22,064
Identifiable intangible assets		52,500
Goodwill		192,582
Total intangible assets acquired		245,082
Total net assets acquired	$	267,146

Schedule of Identifiable Intangible Assets Acquired as Part of Acquisition

The following table presents details of the identifiable intangible assets acquired as part of the Aerohive acquisition (dollars in thousands):

Intangible Assets	Estimated Useful Life (in years)		Amount
Developed technology		4	$	39,100
Backlog		1		400
Customer relationships		7		11,400
Trade names		1		1,600
Total identifiable intangible assets			$	52,500

Components of Aggregate Purchase Consideration

The components of aggregate purchase consideration are as follows (in thousands):

Purchase consideration	August 9, 2019
Cash paid to acquire outstanding shares	$	263,616
Replacement of stock-based awards		3,530
Aggregate purchase consideration	$	267,146