Prepaid Expenses and Other Assets

9 Months Ended

Mar. 31, 2017

Prepaid Expense And Other Assets [Abstract]

Prepaid Expenses and Other Assets

5. Prepaid Expenses and Other Assets

During the three months ended December 31, 2015, the Company entered into a 10-year partnership agreement with a large online customer acquisition marketing company focused on the U.S. insurance industry to be their exclusive click monetization partner for the majority of their insurance categories. The agreement included a one-time upfront cash payment of $10.0 million. The payment is being amortized on a straight-line basis over the life of the contract. As of March 31, 2017, the Company has recorded $1.0 million within prepaid expenses and other assets and $7.5 million within other assets, noncurrent on the condensed consolidated balance sheet. As of June 30, 2016, the Company had recorded $1.0 million within prepaid expenses and other assets and $8.3 million within other assets, noncurrent on the condensed consolidated balance sheet. Amortization expense was $0.2 million and $0.8 million for the three and nine months ended March 31, 2017 and $0.3 million and $0.5 million for the three and nine months ended March 31, 2016.