v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:      
Net income $ 269,741 $ 227,127 $ 206,766
Adjustments to reconcile net income to net cash provided by operating activities      
Stock-based compensation expense 138,657 142,820 146,032
Depreciation and amortization expense 111,797 99,636 76,426
Deferred income tax expense (benefit) 82,947 (3,208) 27,835
Provision for credit losses 1,905 1,382 1,565
Net amortization of premiums (accretion of discounts) on available-for-sale securities (1,498) (2,025) (4,378)
Other 1,350 1,045 (962)
Changes in operating assets and liabilities:      
Accounts receivable (7,929) (3,557) (8,186)
Deferred contract costs (47,933) (62,922) (70,337)
Prepaid expenses and other (11,205) (7,819) (5,829)
Accounts payable (6,472) 7,287 2,423
Accrued expenses and other 1,892 18,460 13,315
Net cash provided by operating activities 533,252 418,226 384,670
Cash flows from investing activities:      
Purchases of available-for-sale securities (271,378) (260,997) (304,465)
Proceeds from sales and maturities of available-for-sale securities 272,115 160,067 294,438
Capitalized internal-use software costs (69,302) (62,402) (60,726)
Purchases of property and equipment (36,152) (13,073) (18,028)
Acquisitions of businesses, net of cash and funds held for clients acquired (49,183) (277,851) (12,031)
Other investing activities (893) (1,292) (1,079)
Net cash used in investing activities (154,793) (455,548) (101,891)
Cash flows from financing activities:      
Net change in client fund obligations 514,173 (297,923) 325,056
Borrowings under credit facility 0 325,000 0
Repayment of credit facility (81,250) (162,500) 0
Repurchases of common shares (398,113) (149,638) (150,000)
Proceeds from employee stock purchase plan 18,222 19,682 19,143
Taxes paid related to net share settlement of equity awards (43,686) (60,034) (52,549)
Other financing activities (365) (408) (72)
Net cash provided by (used in) financing activities 8,981 (325,821) 141,578
Net change in cash, cash equivalents and funds held for clients' cash and cash equivalents 387,440 (363,143) 424,357
Cash, cash equivalents and funds held for clients' cash and cash equivalents—beginning of year 2,482,526 2,845,669 2,421,312
Cash, cash equivalents and funds held for clients' cash and cash equivalents—end of year 2,869,966 2,482,526 2,845,669
Supplemental Disclosure of Non-Cash Investing and Financing Activities      
Purchases of property and equipment and internal-use software, accrued but not paid 1,328 1,833 1,118
Liabilities assumed for acquisitions 4,037 55,730 378
Supplemental Disclosure of Cash Flow Information      
Cash paid for interest 5,570 12,758 494
Reconciliation of cash, cash equivalents and funds held for clients' cash and cash equivalents to the Consolidated Balance Sheets      
Cash and cash equivalents 271,917 398,070 401,811
Funds held for clients' cash and cash equivalents 2,598,049 2,084,456 2,443,858
Total cash, cash equivalents and funds held for clients' cash and cash equivalents $ 2,869,966 $ 2,482,526 $ 2,845,669