Stockholders' Equity (Tables)
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12 Months Ended |
Jun. 30, 2022 |
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| Summary of Reserved Shares of Common Stock for Issuance |
We have reserved shares of common stock for issuance as of June 30, 2022 as follows: | | | | | Reserved | | | Stock | | | Options | Stock options outstanding | | 5,443,928 | Stock available for future grants or issuance: | | | 2005 Stock Incentive Plan | | 679,790 | 2005 Management Stock Option Plan | | 71,983 | 2017 Employee Stock Purchase Plan | | 1,097,360 | Total reserved shares of common stock for issuance | | 7,293,061 |
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| Summary of Stock Options Outstanding and Exercisable under All Stock Option Plans |
The following table summarizes information about stock options outstanding and exercisable under all stock option plans as of June 30, 2022: | | | | | | | | | | | | | | | | | Options Outstanding | | Options Exercisable | | | | | | Weighted | | | | | | | | | | Range of | | | | Average | | Weighted | | | | Weighted | | Exercise | | Number of | | Remaining | | Average | | Number of | | Average | | Prices | | Shares | | Contractual Life | | Exercise Price | | Shares | | Exercise Price | | $1.6-$2.13 | | 14,980 | | 4.70 | | $ | 1.80 | | 14,980 | | $ | 1.80 | | $2.50 | | 1,049,534 | | 4.37 | | $ | 2.50 | | 1,041,107 | | $ | 2.50 | | $3.4-$7.96 | | 635,227 | | 5.05 | | $ | 6.22 | | 563,071 | | $ | 6.03 | | $8.2-$10.96 | | 592,298 | | 8.66 | | $ | 9.81 | | 128,966 | | $ | 9.53 | | $11.05-$11.26 | | 129,900 | | 9.24 | | $ | 11.11 | | 8,020 | | $ | 11.24 | | $11.36 | | 2,701,365 | | 9.13 | | $ | 11.36 | | 511,788 | | $ | 11.36 | | $11.47-$13.75 | | 286,174 | | 7.82 | | $ | 12.40 | | 137,426 | | $ | 12.90 | | $14.28 | | 8,600 | | 8.21 | | $ | 14.28 | | 3,762 | | $ | 14.28 | | $14.40 | | 3,550 | | 6.12 | | $ | 14.40 | | 3,402 | | $ | 14.40 | | $19.11 | | 22,300 | | 7.75 | | $ | 19.11 | | 10,166 | | $ | 19.11 | | $1.6-$19.11 | | 5,443,928 | | 7.60 | | $ | 8.94 | | 2,422,688 | | $ | 6.29 |
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| Summary of Options Vested and Exercisable |
The summary of options vested and exercisable as of June 30, 2022 comprised: | | | | | | | | | | | | | | | | | | | | Weighted | | | | | | | | | | Average | | | | | Weighted | | Aggregate | | Remaining | | | Number of | | Average | | Intrinsic | | Contractual | | | Shares | | Exercise Price | | Value | | Term | Options outstanding | | 5,443,928 | | $ | 8.94 | | $ | 10,098,695 | | 7.60 | Fully vested and expected to vest options | | 5,173,999 | | $ | 8.83 | | $ | 10,072,808 | | 7.52 | Options exercisable | | 2,422,688 | | $ | 6.29 | | $ | 9,806,115 | | 5.70 |
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| Summary of Effect of Stock Based Compensation |
| | | | | | | | | Fiscal Year Ended June 30, | | | 2022 | | 2021 | Non-cash stock-based compensation expense | | $ | (11,380) | | $ | (1,700) | Income tax expense | | | (102) | | | (51) | Net (loss) income effect | | $ | (11,482) | | $ | (1,751) |
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| Summary of Stock Option Assumptions |
| | | | | | | | | | Fiscal Year Ended June 30, | | | 2022 | | 2021 | Dividend yield | | | — | | | — | | Expected volatility | | | 70 | % | | 72 | % | Average risk-free interest rate | | | 1.01 | % | | 0.50 | % | Expected life (in years) | | | 4.68 | | | 4.35 | |
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| 2005 Management Stock Option Plan |
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| Summary of Plan Activity |
| | | | | | | | | | Shares | | | | Weighted | | | Available for | | Options | | Average | | | Grant | | Outstanding | | Exercise Price | Balance as of June 30, 2020 | | 68,649 | | 1,278,517 | | $ | 3.58 | Options Granted | | — | | — | | $ | — | Options Exercised | | — | | (106,000) | | $ | 4.30 | Options Forfeited / Expired | | — | | — | | $ | — | Balance as of June 30, 2021 | | 68,649 | | 1,172,517 | | $ | 3.51 | Options Granted | | — | | — | | $ | — | Options Exercised | | — | | (342,466) | | $ | 4.08 | Options Forfeited / Expired | | 3,334 | | (3,334) | | $ | 1.75 | Balance as of June 30, 2022 | | 71,983 | | 826,717 | | $ | 3.29 |
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| 2005 Stock Incentive Plan |
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| Summary of Plan Activity |
| | | | | | | | | | Shares | | | | Weighted | | | Available for | | Options | | Average | | | Grant | | Outstanding | | Exercise Price | Balance as of June 30, 2020 | | 1,073,386 | | 1,607,449 | | $ | 5.60 | Options Granted | | (207,700) | | 207,700 | | $ | 12.07 | Options Exercised | | — | | (173,313) | | $ | 4.41 | Options Forfeited / Expired | | 78,841 | | (78,841) | | $ | 8.69 | Balance as of June 30, 2021 | | 944,527 | | 1,562,995 | | $ | 6.44 | Shares Added | | 3,000,000 | | — | | $ | — | Options Granted | | (3,607,661) | | 3,607,661 | | $ | 11.18 | Options Exercised | | — | | (210,521) | | $ | 3.52 | Options Forfeited / Expired | | 342,924 | | (342,924) | | $ | 10.75 | Balance as of June 30, 2022 | | 679,790 | | 4,617,211 | | $ | 9.96 |
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| Stock Options |
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| Summary of Effect of Stock Based Compensation |
| | | | | | | | | Fiscal Year Ended June 30, | | | 2022 | | 2021 | Cost of revenue | | $ | 2,916 | | $ | 222 | Research and development | | | 2,797 | | | 347 | Sales and marketing | | | 2,248 | | | 501 | General and administrative | | | 2,962 | | | 157 | Total | | $ | 10,923 | | $ | 1,227 |
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| Employee Stock Purchase Plan (ESPP) |
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| Summary of Employee Stock Purchase Plan (ESPP) assumptions |
We used the following weighted-average assumptions as inputs to estimate the fair value of the ESPP stock purchase right: | | | | | | | | | | | Fiscal Year Ended June 30, | | | 2022 | | 2021 | Dividend yield | | | — | | | | — | | Expected volatility | | | 57 | % | | | 69 | % | Average risk-free interest rate | | | 1.22 | % | | | 1.27 | % | Expected term (in years) | | | 0.50 | | | | 0.50 | | Fair Value of grants per share | | $ | 2.96 | | | $ | 3.64 | |
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