Employee Benefit Plans (Tables)
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12 Months Ended |
Jun. 30, 2025 |
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| Share-Based Payment Arrangement, Noncash Expense [Abstract] |
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| Common Stock Reserved for Future Issuance |
The Company had the following reserved shares of the Company's common stock for future issuance as of the dates noted (in thousands):
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June 30,
2025 |
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June 30,
2024 |
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2013 Equity Incentive Plan shares available for grant |
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10,935 |
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|
13,414 |
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Employee stock options and awards outstanding |
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|
7,566 |
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|
7,562 |
|
2014 Employee Stock Purchase Plan |
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|
5,952 |
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|
7,130 |
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Total shares reserved for issuance |
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24,453 |
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|
28,106 |
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| Summary of Stock Option Activity |
The following table summarizes stock option activity under all plans for the year ended June 30, 2025 (in thousands except per share amount and contractual term):
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Number of Shares |
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Weighted-Average Exercise Price Per Share |
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Weighted-Average Remaining Contractual Term (years) |
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Aggregate Intrinsic Value |
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Options outstanding at June 30, 2024 |
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1,073 |
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$ |
6.58 |
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|
1.75 |
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$ |
7,376 |
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Granted |
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— |
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— |
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Exercised |
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(577 |
) |
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6.47 |
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Canceled |
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— |
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— |
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Options outstanding at June 30, 2025 |
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|
496 |
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$ |
6.70 |
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|
1.16 |
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$ |
5,580 |
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Vested and expected to vest at June 30, 2025 |
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|
496 |
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$ |
6.70 |
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|
1.16 |
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$ |
5,580 |
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Exercisable at June 30, 2025 |
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|
496 |
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$ |
6.70 |
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|
1.16 |
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$ |
5,580 |
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| Summary of Stock Award Activity |
The following table summarizes stock award activity for the year ended June 30, 2025 (in thousands, except grant date fair value):
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Number of Shares |
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Weighted- Average Grant Date Fair Value |
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Aggregate Fair Value |
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Non-vested stock awards outstanding at June 30, 2024 |
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6,489 |
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$ |
22.65 |
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Granted |
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4,857 |
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|
15.78 |
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Released |
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(3,807 |
) |
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20.02 |
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Canceled |
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(469 |
) |
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20.27 |
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Non-vested stock awards outstanding at June 30, 2025 |
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7,070 |
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$ |
19.53 |
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$ |
126,907 |
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Stock awards expected to vest at June 30, 2025 |
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7,070 |
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$ |
19.53 |
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$ |
126,907 |
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| Schedule of Awards Performance Thresholds and Shares Expected to Vest (TSR PSUs) |
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Level |
Relative TSR |
Shares Vested |
Below Threshold |
TSR is less than the Index by more than 37.5 percentage points |
0% |
Threshold |
TSR is less than the Index by 37.5 percentage points |
25% |
Target |
TSR equals the Index |
100% |
Maximum |
TSR is greater than the Index by 25 percentage points or more |
150% |
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| Summary of Stock Awards with Market or Performance Based Conditions Granted |
The following table summarizes stock awards with market or performance-based conditions granted and the number of awards that have satisfied the relevant market or performance criteria in each period (in thousands):
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Fiscal Year 2025 |
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Fiscal Year 2024 |
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Fiscal Year 2023 |
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Performance awards granted |
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1,037 |
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|
841 |
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|
1,221 |
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Performance awards earned |
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|
899 |
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|
846 |
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|
400 |
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| Schedule of Recognized Share-based Compensation Expense |
Share-based compensation expense recognized in the financial statements by line-item caption is as follows (in thousands):
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Year Ended |
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June 30,
2025 |
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June 30,
2024 |
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June 30,
2023 |
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Cost of product revenues |
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$ |
2,661 |
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$ |
1,899 |
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$ |
1,856 |
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Cost of subscription and support revenues |
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|
2,912 |
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|
2,994 |
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|
3,513 |
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Research and development |
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17,154 |
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16,686 |
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|
14,824 |
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Sales and marketing |
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28,393 |
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26,524 |
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|
22,250 |
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General and administrative |
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|
31,194 |
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|
28,660 |
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|
21,029 |
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Total share-based compensation expense |
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|
$ |
82,314 |
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$ |
76,763 |
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$ |
63,472 |
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| Schedule of Fair Value Assumptions for Employee Stock Purchase Plan Awards |
The weighted-average estimated per share fair value of shares under the 2014 ESPP in fiscal years 2025, 2024 and 2023, was $3.99, $5.73 and $4.87, respectively.
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Employee Stock Purchase Plan |
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Year Ended |
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June 30,
2025 |
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June 30,
2024 |
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|
June 30,
2023 |
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Expected term |
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0.5 years |
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0.5 years |
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|
0.5 years |
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Risk-free interest rate |
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|
4.73 |
% |
|
|
5.42 |
% |
|
|
3.84 |
% |
|
Volatility |
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|
37 |
% |
|
|
47 |
% |
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|
55 |
% |
|
Dividend yield |
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|
— |
% |
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— |
% |
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— |
% |
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