The following table summarizes the Company's cash and cash equivalents (in thousands):


	June 30, 2026		June 30, 2025
Cash	$	209,029	$	225,656
Cash equivalents		2,729		6,089
Total cash and cash equivalents	$	211,758	$	231,745

The following table summarizes the Company's accounts receivable (in thousands):


	June 30, 2026			June 30, 2025
Accounts receivable	$	349,523		$	327,067
Customer rebates		(165,734	)		(176,002	)
Allowance for credit losses		(475	)		(691	)
Allowance for product returns		(18,721	)		(23,666	)
Accounts receivable, net	$	164,593		$	126,708

The Company is party to an agreement (the “Accounts Receivable Purchase Agreement”) with a financial institution to sell selected trade accounts receivable on a nonrecourse basis. Under this agreement, up to $25.0 million of the Company's trade accounts receivable may be sold to the financial institution and remain outstanding at any point in time. The Company removes the sold balances from “Accounts receivable, net” in its balance sheet at the time of sale. The Company does not retain any interests in the sold trade accounts receivable under the Accounts Receivable Purchase Agreement. Sale proceeds are representative of the fair value of factored receivables, less a factoring fee, and are reflected in cash flows from operating activities on the consolidated statement of cash flows. During fiscal year 2026, the Company sold approximately $20.0 million of trade accounts receivable in exchange for cash. Factoring fees incurred during fiscal year 2026 were not material.

The following table summarizes the Company's allowance for credit losses (in thousands):


Description	Balance at beginning of period		Provision for expected credit losses		Deductions (1)			Balance at end of period
Year Ended June 30, 2026:
Allowance for credit losses	$	691	$	565	$	(781	)	$	475
Year Ended June 30, 2025:
Allowance for credit losses	$	915	$	157	$	(381	)	$	691
Year Ended June 30, 2024:
Allowance for credit losses	$	882	$	210	$	(177	)	$	915

(1)Uncollectible accounts written off, net of recoveries.

The following table summarizes the Company’s allowance for product returns (in thousands):


Description	Balance at beginning of period		Additions		Deductions			Balance at end of period
Year Ended June 30, 2026:
Allowance for product returns	$	23,666	$	21,801	$	(26,746	)	$	18,721
Year Ended June 30, 2025:
Allowance for product returns	$	52,336	$	23,716	$	(52,386	)	$	23,666
Year Ended June 30, 2024:
Allowance for product returns	$	35,125	$	149,161	$	(131,950	)	$	52,336

The following table summarizes the Company’s inventory by category (in thousands):


	June 30, 2026		June 30, 2025
Finished goods	$	45,223	$	57,770
Raw materials		24,727		44,808
Total inventories	$	69,950	$	102,578

Property and Equipment, Net

The following table summarizes the Company’s property and equipment by category (in thousands):


	June 30, 2026			June 30, 2025
Computers and equipment	$	76,932		$	80,782
Software		68,302			62,089
Office equipment, furniture and fixtures		7,543			8,031
Leasehold improvements		53,708			47,962
Total property and equipment		206,485			198,864
Less: accumulated depreciation and amortization		(148,390	)		(154,498	)
Property and equipment, net	$	58,095		$	44,366

The Company recognized depreciation expense of $15.6 million, $14.5 million and $23.9 million related to property and equipment during the years ended June 30, 2026, 2025 and 2024, respectively.

The following table summarizes the Company's contract liabilities which are shown as deferred revenue (in thousands):


	June 30, 2026		June 30, 2025
Deferred subscription and support	$	637,038	$	603,363
Other deferred revenue		15,752		14,130
Total deferred revenue	$	652,790	$	617,493
Less: current portion	$	329,713	$	325,078
Non-current deferred revenue	$	323,077	$	292,415

The following table summarizes the activity related to the Company’s product warranty liability during the following periods (in thousands):


	Year Ended
	June 30, 2026			June 30, 2025			June 30, 2024
Balance at beginning of period	$	9,684		$	10,942		$	12,322
New warranties issued		12,544			11,540			13,010
Warranty expenditures		(11,275	)		(12,798	)		(14,390	)
Balance at end of period	$	10,953		$	9,684		$	10,942