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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Jun. 30, 2023
Current assets:    
Cash and cash equivalents $ 117,958 $ 95,233
Accounts receivable, net allowance for credit losses 48,164 30,820
Deferred contract costs 70,377 54,448
Prepaid expenses 12,749 10,448
Other current assets 3,458 2,581
Current assets before funds held for clients 252,706 193,530
Funds held for clients 1,109,136 1,049,156
Total current assets 1,361,842 1,242,686
Property and equipment, net 35,220 34,573
Operating lease right-of-use assets 14,417 16,834
Goodwill 766,653 767,738
Intangible assets, net 171,493 260,472
Capitalized software, net 67,376 53,983
Long-term deferred contract costs 189,826 162,657
Other long-term assets 2,566 2,232
Total assets 2,609,393 2,541,175
Current liabilities:    
Accounts payable 27,309 28,350
Accrued expenses and other current liabilities 26,450 24,119
Accrued payroll and payroll related expenses 44,923 43,858
Deferred revenue 13,600 13,083
Current liabilities before client fund obligations 112,282 109,410
Client fund obligations 1,111,373 1,053,926
Total current liabilities 1,223,655 1,163,336
Deferred income taxes 16,019 18,047
Long-term operating leases 13,447 16,061
Other long-term liabilities 69,346 70,047
Total liabilities 1,322,467 1,267,491
Commitments and contingencies (Note 18)
Stockholders' equity:    
Common stock $0.001 par value per share, 500,000,000 shares authorized, 178,210,263 shares outstanding at June 30, 2024 and 176,535,236 shares outstanding at June 30, 2023 178 177
Treasury stock, at cost, 10,620,260 shares at June 30, 2024 and June 30, 2023 (245,074) (245,074)
Preferred stock, $0.001 par value, 50,000,000 shares authorized, — shares outstanding at June 30, 2024 and June 30, 2023 0 0
Additional paid-in capital 2,081,668 2,011,194
Accumulated deficit (548,437) (489,495)
Accumulated other comprehensive loss (1,409) (3,118)
Total stockholders' equity 1,286,926 1,273,684
Total liabilities and stockholders' equity $ 2,609,393 $ 2,541,175
Preferred stock, shares authorized (in shares) 50,000,000 50,000,000
Preferred stock, par value (in dollars per share) $ 0.001 $ 0.001