v3.25.2
Information about Segments and Geographic Areas
 12 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Information about Segments and Geographic Areas

12. Information about Segments and Geographic Areas

The Company has one reportable segment, the development, marketing, and sale of network infrastructure equipment and related software. The Company conducts business globally and is managed geographically. Revenues are attributed to a geographical area. The Company operates in three geographical areas: Americas, EMEA, and APAC. See Note 3, Revenues, for additional information on the Company's revenues by geographic region.

Measure of segment profit or loss:

The Company’s chief operating decision maker (“CODM”), who is its Chief Executive Officer, reviews financial information presented on a consolidated basis and uses consolidated non-GAAP net income to measure segment profit or loss and to monitor period-over-period results to decide where to allocate and invest additional resources within the business.

Consolidated non-GAAP net income is exclusive of certain items that are non-recurring or not consistent with the Company's operations. The CODM reviews and utilizes functional expenses (costs of revenue, research and development, sales and marketing, and general and administrative) at the consolidated level to manage and assess the Company's operations. Other segment items included in consolidated non-GAAP net income are interest income, interest expense, other income (expense), net, and the provision for (benefit from) income taxes, which are reflected in the consolidated statements of operations.

A reconciliation of consolidated GAAP net income (loss) to consolidated non-GAAP net income is shown in the table below:

 

 

Year Ended

 

 

 

June 30,
2025

 

 

June 30,
2024

 

 

June 30,
 2023

 

GAAP net income (loss)

 

$

(7,467

)

 

$

(85,964

)

 

$

78,074

 

Adjustments:

 

 

 

 

 

 

 

 

 

Share-based compensation expense

 

 

82,314

 

 

 

76,763

 

 

 

63,472

 

Acquisition and integration costs

 

 

—

 

 

 

—

 

 

 

390

 

Restructuring and related charges

 

 

1,492

 

 

 

36,321

 

 

 

2,860

 

Litigation charges(1)

 

 

34,722

 

 

 

10,545

 

 

 

8,026

 

System transition costs

 

 

21,550

 

 

 

5,262

 

 

 

957

 

Amortization of intangibles

 

 

4,443

 

 

 

5,243

 

 

 

14,916

 

Debt refinancing charges, Other income (expense)

 

 

79

 

 

 

—

 

 

 

1,543

 

Tax effect of non-GAAP adjustments

 

 

(24,709

)

 

 

(4,815

)

 

 

(23,933

)

Total adjustments to GAAP net income (loss)

 

$

119,891

 

 

$

129,319

 

 

$

68,231

 

Non-GAAP net income

 

$

112,424

 

 

$

43,355

 

 

$

146,305

 

(1)Litigation charges consist of estimated settlement and related legal expenses for non-recurring litigation offset by any proceeds received or expected to be received from insurance.

Measure of segment assets:

The measure of segment assets that is reviewed by the CODM is reported within the consolidated balance sheets as “Total assets”. Depreciation expense recorded for fiscal years ended June 30, 2025, 2024, and 2023 was $14.5 million, $23.9 million and $19.5 million, respectively. Total expenditures for additions to property, plant and equipment recorded for fiscal years ended June 30, 2025, 2024 and 2023 were $24.7 million, $18.1 million, and $13.8 million respectively.

The Company’s long-lived assets are attributed to the geographic regions as follows (in thousands):

 

 

 

Year Ended

 

 

 

June 30,
2025

 

 

June 30,
2024

 

Segment long-lived assets:

 

 

 

 

 

 

Americas

 

$

167,499

 

 

$

136,745

 

EMEA

 

 

40,299

 

 

 

33,715

 

APAC

 

 

10,550

 

 

 

11,499

 

Total segment long-lived assets

 

$

218,348

 

 

$

181,959