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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net income (loss) $ 4,878 $ (22,672)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization expense 28,017 26,251
Stock-based compensation expense 8,426 5,510
Deferred income taxes 7,901 17,223
Provision for credit losses 9,350 1,503
Amortization of fees on debt 416 410
Noncash operating lease expense 4,372 3,866
Other 853 (3,918)
Changes in assets and liabilities:    
Accounts receivable (175,215) (126,521)
Inventories, prepaid expenses, deposits and other current and long-term assets (14,330) (34,695)
Accounts payable 28,747 8,425
Accrued liabilities (26,895) (9,971)
Accrued compensation and benefits (17,402) (32,805)
Operating lease liability (3,619) (2,605)
Deferred revenue and other liabilities 9,196 26,853
Net cash used in operating activities (135,305) (143,146)
Cash flows from investing activities    
Purchase of property and equipment (1,694) (913)
Capitalized software development costs (10,041) (9,793)
Capitalized curriculum development costs (4,414) (6,145)
Sale of other investments   60
Acquisition of assets   (1,409)
Other acquisitions, loans and investments, net of distributions (166) (213)
Proceeds from the maturity of marketable securities 40,734 12,044
Purchases of marketable securities (31,484) (20,126)
Net cash used in investing activities (7,065) (26,495)
Cash flows from financing activities    
Repayments on finance lease obligations (11,721) (9,314)
Payments of contingent consideration   (7,024)
Proceeds from exercise of stock options   10
Repurchase of restricted stock for income tax withholding (2,090) (8,905)
Net cash used in financing activities (13,811) (25,233)
Net change in cash, cash equivalents and restricted cash (156,181) (194,874)
Cash, cash equivalents and restricted cash, beginning of period 410,807 389,398
Cash, cash equivalents and restricted cash, end of period $ 254,626 $ 194,524