EXTREME NETWORKS INC, 10-Q filed on 1/29/2026
Quarterly Report
v3.25.4
Document and Entity Information - shares
 6 Months Ended
Dec. 31, 2025
Jan. 23, 2026
Cover [Abstract]    
Entity Registrant Name EXTREME NETWORKS, INC.  
Entity Central Index Key 0001078271  
Current Fiscal Year End Date --06-30  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Shell Company false  
Entity Emerging Growth Company false  
Document Type 10-Q  
Document Period End Date Dec. 31, 2025  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q2  
Trading Symbol EXTR  
Amendment Flag false  
Entity Common Stock, Shares Outstanding   134,269,540
Entity File Number 000-25711  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 77-0430270  
Entity Address, Address Line One 2121 RDU Center Drive, Suite 300  
Entity Address, City or Town Morrisville  
Entity Address, State or Province NC  
Entity Address, Postal Zip Code 27560  
City Area Code 408  
Local Phone Number 579-2800  
Title of 12(b) Security Common Stock  
Security Exchange Name NASDAQ  
Document Quarterly Report true  
Document Transition Report false  
Entity Interactive Data Current Yes  
Entity Current Reporting Status Yes  
v3.25.4
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Current assets:    
Cash and cash equivalents $ 219,791 $ 231,745
Accounts receivable, net 152,427 126,708
Inventories 83,593 102,578
Prepaid expenses and other current assets 79,917 74,265
Total current assets 535,728 535,296
Property and equipment, net 50,228 44,366
Operating lease right-of-use assets, net 34,925 38,655
Goodwill 399,850 399,574
Intangible assets, net 4,682 6,541
Other assets 143,253 128,786
Total assets 1,168,666 1,153,218
Current liabilities:    
Accounts payable 64,814 63,939
Accrued compensation and benefits 66,527 62,895
Accrued warranty 9,628 9,684
Current portion of deferred revenue 328,164 325,078
Current portion of long-term debt, net of unamortized debt issuance costs of $698 and $729, respectively 16,802 14,271
Current portion of operating lease liabilities 12,233 11,456
Other accrued liabilities 66,974 100,552
Total current liabilities 565,142 587,875
Deferred revenue, less current portion 314,728 292,415
Long-term debt, less current portion, net of unamortized debt issuance costs of $937 and $1,276, respectively 154,063 163,724
Operating lease liabilities, less current portion 29,025 33,991
Deferred income taxes 7,196 7,033
Other long-term liabilities 2,600 2,596
Commitments and contingencies (Note 8)
Stockholders’ equity:    
Convertible preferred stock, $0.001 par value, issuable in series, 2,000 shares authorized; none issued
Common stock, $0.001 par value, 750,000 shares authorized; 155,339 and 152,673 shares issued, respectively; 134,153 and 132,064 shares outstanding, respectively 155 153
Additional paid-in-capital 1,328,970 1,298,791
Accumulated other comprehensive loss (9,477) (8,137)
Accumulated deficit (935,942) (949,429)
Treasury stock at cost, 21,186 shares and 20,609 shares, respectively (287,794) (275,794)
Total stockholders’ equity 95,912 65,584
Total liabilities and stockholders’ equity $ 1,168,666 $ 1,153,218
v3.25.4
Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Current liabilities:    
Net of unamortized debt issuance costs $ 698 $ 729
Noncurrent liabilities:    
Net of unamortized debt issuance costs $ 937 $ 1,276
Stockholders’ equity:    
Convertible preferred stock, par value (in dollars per share) $ 0.001 $ 0.001
Convertible preferred stock, shares authorized 2,000,000 2,000,000
Convertible preferred stock, shares issued 0 0
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized 750,000,000 750,000,000
Common stock, shares issued 155,339,000 152,673,000
Common stock, shares outstanding 134,153,000 132,064,000
Treasury stock, shares 21,186,000 20,609,000
v3.25.4
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Net revenues:        
Total net revenues $ 317,925 $ 279,355 $ 628,170 $ 548,559
Cost of revenues:        
Total cost of revenues 122,845 104,232 245,061 203,929
Gross profit:        
Total gross profit 195,080 175,123 383,109 344,630
Operating expenses:        
Research and development 57,522 54,883 115,275 109,334
Sales and marketing 89,393 79,967 178,316 161,350
General and administrative 34,599 26,064 63,786 62,665
Restructuring and related charges 167 1,035 538 2,312
Amortization of intangible assets 407 509 907 1,021
Total operating expenses 182,088 162,458 358,822 336,682
Operating income 12,992 12,665 24,287 7,948
Interest income 1,132 839 2,329 1,685
Interest expense (3,360) (4,179) (7,013) (8,601)
Other income (expense), net (360) 661 (847) (60)
Income before income taxes 10,404 9,986 18,756 972
Provision for income taxes 2,528 2,604 5,269 4,094
Net income (loss) $ 7,876 $ 7,382 $ 13,487 $ (3,122)
Basic and diluted income (loss) per share:        
Net income (loss) per share - basic $ 0.06 $ 0.06 $ 0.1 $ (0.02)
Net income (loss) per share - diluted $ 0.06 $ 0.06 $ 0.1 $ (0.02)
Shares used in per share calculation – basic 133,914 132,381 133,443 131,778
Shares used in per share calculation – diluted 135,166 134,107 135,379 131,778
Product        
Net revenues:        
Total net revenues $ 197,765 $ 172,261 $ 391,806 $ 334,545
Cost of revenues:        
Total cost of revenues 87,000 72,604 173,128 142,006
Gross profit:        
Total gross profit 110,765 99,657 218,678 192,539
Subscription and Support        
Net revenues:        
Total net revenues 120,160 107,094 236,364 214,014
Cost of revenues:        
Total cost of revenues 35,845 31,628 71,933 61,923
Gross profit:        
Total gross profit $ 84,315 $ 75,466 $ 164,431 $ 152,091
v3.25.4
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Statement of Comprehensive Income [Abstract]        
Net income (loss) $ 7,876 $ 7,382 $ 13,487 $ (3,122)
Derivatives designated as hedging instruments:        
Net realized losses reclassified into earnings on foreign currency cash flow hedges 22 0 22 0
Change in unrealized gains and losses on foreign currency cash flow hedges (204) 0 (204) 0
Net change from derivatives designated as hedging instruments (182) 0 (182) 0
Net change in foreign currency translation adjustments 288 (7,972) (1,158) (3,871)
Other comprehensive income (loss): 106 (7,972) (1,340) (3,871)
Total comprehensive income (loss) $ 7,982 $ (590) $ 12,147 $ (6,993)
v3.25.4
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Additional Paid-In-Capital
Accumulated Other Comprehensive Loss
Treasury Stock
Accumulated Deficit
Balance at Jun. 30, 2024 $ 25,282 $ 149 $ 1,220,379 $ (15,483) $ (237,801) $ (941,962)
Balance, common stock, shares at Jun. 30, 2024   148,503        
Balance, treasury stock common shares at Jun. 30, 2024         (18,219)  
Net Income (Loss) (3,122)         (3,122)
Other comprehensive income (loss) (3,871)     (3,871)    
Issuance of common stock from equity incentive plans, net of tax withholdings (8,300) $ 2 (8,302)      
Issuance of common stock from equity incentive plans, net of tax withholdings, shares   2,363        
Share-based compensation 41,219   41,219      
Balance at Dec. 31, 2024 51,208 $ 151 1,253,296 (19,354) $ (237,801) (945,084)
Balance, common stock, shares at Dec. 31, 2024   150,866        
Balance, treasury stock common shares at Dec. 31, 2024         (18,219)  
Balance at Sep. 30, 2024 32,721 $ 150 1,234,220 (11,382) $ (237,801) (952,466)
Balance, common stock, shares at Sep. 30, 2024   150,265        
Balance, treasury stock common shares at Sep. 30, 2024         (18,219)  
Net Income (Loss) 7,382         7,382
Other comprehensive income (loss) (7,972)     (7,972)    
Issuance of common stock from equity incentive plans, net of tax withholdings (2,375) $ 1 (2,376)      
Issuance of common stock from equity incentive plans, net of tax withholdings, shares   601        
Share-based compensation 21,452   21,452      
Balance at Dec. 31, 2024 51,208 $ 151 1,253,296 (19,354) $ (237,801) (945,084)
Balance, common stock, shares at Dec. 31, 2024   150,866        
Balance, treasury stock common shares at Dec. 31, 2024         (18,219)  
Balance at Jun. 30, 2025 $ 65,584 $ 153 1,298,791 (8,137) $ (275,794) (949,429)
Balance, common stock, shares at Jun. 30, 2025 152,673 152,673        
Balance, treasury stock common shares at Jun. 30, 2025 (20,609)       (20,609)  
Net Income (Loss) $ 13,487         13,487
Other comprehensive income (loss) (1,340)     (1,340)    
Issuance of common stock from equity incentive plans, net of tax withholdings (14,498) $ 2 (14,500)      
Issuance of common stock from equity incentive plans, net of tax withholdings, shares   2,666        
Repurchase of stock (12,000)       $ (12,000)  
Repurchase of stock, shares         (577)  
Share-based compensation 44,679   44,679      
Balance at Dec. 31, 2025 $ 95,912 $ 155 1,328,970 (9,477) $ (287,794) (935,942)
Balance, common stock, shares at Dec. 31, 2025 155,339 155,339        
Balance, treasury stock common shares at Dec. 31, 2025 (21,186)       (21,186)  
Balance at Sep. 30, 2025 $ 68,563 $ 155 1,309,603 (9,583) $ (287,794) (943,818)
Balance, common stock, shares at Sep. 30, 2025   154,839        
Balance, treasury stock common shares at Sep. 30, 2025         (21,186)  
Net Income (Loss) 7,876         7,876
Other comprehensive income (loss) 106     106    
Issuance of common stock from equity incentive plans, net of tax withholdings (3,532)   (3,532)      
Issuance of common stock from equity incentive plans, net of tax withholdings, shares   500        
Share-based compensation 22,899   22,899      
Balance at Dec. 31, 2025 $ 95,912 $ 155 $ 1,328,970 $ (9,477) $ (287,794) $ (935,942)
Balance, common stock, shares at Dec. 31, 2025 155,339 155,339        
Balance, treasury stock common shares at Dec. 31, 2025 (21,186)       (21,186)  
v3.25.4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net income (loss) $ 13,487 $ (3,122)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 7,793 7,804
Amortization of intangible assets 1,870 2,251
Amortization of cloud computing implementation costs 1,025  
Reduction in carrying amount of right-of-use asset 5,104 4,894
Provision for credit losses 320 27
Share-based compensation 44,679 41,219
Deferred income taxes 414 (987)
Provision for (benefit from) excess and obsolete inventory 1,270 (271)
Non-cash interest expense 609 594
Other 951 (801)
Changes in operating assets and liabilities:    
Accounts receivable, net (26,039) (28,083)
Inventories 15,821 411
Prepaid expenses and other assets (25,724) (9,969)
Accounts payable 766 1,177
Accrued compensation and benefits 3,342 16,995
Operating lease liabilities (5,554) (5,375)
Deferred revenue 27,920 17,421
Other current and long-term liabilities (31,914) (4,067)
Net cash provided by operating activities 36,140 40,118
Cash flows from investing activities:    
Capital expenditures for property, equipment and capitalized software development costs (13,922) (12,325)
Net cash used in investing activities (13,922) (12,325)
Cash flows from financing activities:    
Borrowings under revolving facility 25,000  
Payments on revolving facility (25,000)  
Payments on debt obligations (7,500) (5,000)
Payments on debt financing costs   (695)
Repurchase of common stock (12,000)  
Payments for tax withholdings, net of proceeds from issuance of common stock (14,498) (8,300)
Net cash used in financing activities (33,998) (13,995)
Foreign currency effect on cash and cash equivalents (174) (175)
Net increase (decrease) in cash and cash equivalents (11,954) 13,623
Cash and cash equivalents at beginning of period 231,745 156,699
Cash and cash equivalents at end of period $ 219,791 $ 170,322
v3.25.4
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Pay vs Performance Disclosure        
Net Income (Loss) $ 7,876 $ 7,382 $ 13,487 $ (3,122)
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Rule 10b5-1 Arrangement Modified false
Non-Rule 10b5-1 Arrangement Modified false
v3.25.4
Description of Business and Basis of Presentation
 6 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of Business and Basis of Presentation
1.
Description of Business and Basis of Presentation

Extreme Networks, Inc., together with its subsidiaries (collectively referred to as “Extreme” or the “Company”), is a leader in providing software-driven networking solutions for enterprise customers. The Company conducts its sales and marketing activities on a worldwide basis through distributors, resellers, and the Company’s field sales organization. Extreme was incorporated in California in 1996 and reincorporated in Delaware in 1999.

The unaudited condensed consolidated financial statements of Extreme included herein have been prepared under the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted under such rules and regulations. The condensed consolidated balance sheet at June 30, 2025 was derived from audited financial statements as of that date but does not include all disclosures required by generally accepted accounting principles for complete financial statements. These interim financial statements and notes should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2025.

The unaudited condensed consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments that, in the opinion of management, are necessary for a fair presentation of the results of operations and cash flows for the interim periods presented and the financial condition of Extreme at December 31, 2025. The results of operations for the three and six months ended December 31, 2025 are not necessarily indicative of the results that may be expected for fiscal 2026 or any future periods.

Fiscal Year

The Company uses a fiscal calendar year ending on June 30. All references herein to “fiscal 2026” represent the fiscal year ending June 30, 2026. All references herein to “fiscal 2025” represent the fiscal year ended June 30, 2025.

Principles of Consolidation

The unaudited condensed consolidated financial statements include the accounts of Extreme and its wholly owned subsidiaries. All inter-company accounts and transactions have been eliminated.

The Company predominantly uses the United States Dollar as its functional currency. The functional currency for certain of its foreign subsidiaries is the local currency. For those subsidiaries that operate in a local functional currency environment, all assets and liabilities are translated to United States Dollars at current month end rates of exchange and revenues, and expenses are translated using the monthly average rate.

Accounting Estimates

The preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates.
v3.25.4
Summary of Significant Accounting Policies
 6 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies
2.
Summary of Significant Accounting Policies

For a description of significant accounting policies, see Note 2, Summary of Significant Accounting Policies, to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2025. There have been no material changes to the Company’s significant accounting policies since the filing of the Annual Report on Form 10-K.

Recently Adopted Accounting Pronouncements

There were no recently adopted accounting standards which would have a material effect on the Company's condensed consolidated financial statements and accompanying disclosures.

Recently Issued Accounting Pronouncements Not Yet Adopted

In December 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements. This ASU provides clarifications intended to improve the consistency and usability of interim disclosure requirements, including a comprehensive listing of required interim disclosures. The standard introduces a new disclosure principle for interim reporting to help entities determine whether disclosures not specified in Topic 270 should be provided in interim periods. ASU 2025-11 is effective for fiscal years beginning after December 15, 2027, and interim periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the impact of adopting ASU 2025-11 on its consolidated financial statements and related disclosures.

In November 2025, the FASB issued ASU 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements. This ASU amends certain aspects of existing guidance to more closely align hedge accounting with the economics of the Company’s risk management activities. ASU 2025-09 is effective for fiscal years beginning after December 15, 2026, and interim periods within those annual reporting periods and should be applied on a prospective basis. Early adoption is permitted. The Company is currently evaluating the impact of adopting ASU 2025-09 on its consolidated financial statements and related disclosures.

In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. This ASU removes all references to prescriptive and sequential software development stages and requires entities to begin capitalizing software costs when management authorizes and commits to funding the software project, and it is probable that the project will be completed, and the software will be used for its intended purpose. The amendments in this ASU are effective for fiscal years beginning after December 15, 2027, and interim periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the impact of adopting ASU 2025-06 on its consolidated financial statements and related disclosures.

In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets to address challenges encountered when applying the guidance in Topic 326, Financial Instruments—Credit Losses, to current accounts receivable and current contract assets arising from transactions accounted for under Topic 606, Revenue from Contracts with Customers. ASU 2025-05 is effective for fiscal years beginning after December 15, 2025, and interim periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the impact of adopting ASU 2025-05 on its consolidated financial statements and related disclosures.

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses to improve disclosures about public business entities’ expenses and to provide more detailed information around the types of expenses included in commonly presented expense captions. Additionally, in January 2025 the FASB issued ASU 2025-01 to clarify the effective date of ASU 2024-03. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods for fiscal years beginning after December 15, 2027, and can be applied on a prospective basis or on a retrospective basis to all periods presented. Early adoption is permitted. The Company is currently evaluating the impact of adopting ASU 2024-03 and ASU 2025-01 on its consolidated financial statements and related disclosures.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740), Improvements to Income Tax Disclosures to enhance income tax disclosures primarily through changes in the rate reconciliation and income taxes paid information. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024 on a prospective basis. The Company will be adopting ASU 2023-09 for fiscal year ended June 30, 2026.
v3.25.4
Revenues
 6 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenues
3.
Revenues

The Company accounts for revenues in accordance with Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers. The Company derives the majority of its revenues from sales of its networking equipment, with the remaining revenues generated from sales of subscription and support, which primarily includes software subscriptions delivered as software as a service (“SaaS”) and additional revenues from maintenance contracts, professional services and training for its products. The Company sells its products, SaaS and maintenance contracts to customers and partners in two distribution channels, or tiers. The first tier consists of a limited number of independent distributors that stock the Company's products and sell primarily to resellers. The second tier of the distribution channel consists of non-stocking distributors and value-added resellers that sell primarily to end-users. Products and subscription and support may be sold separately or in bundled packages.

Revenue Recognition

Performance Obligations. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC 606. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. Certain of the Company’s contracts have multiple performance obligations, as the promise to transfer individual goods or services is separately identifiable from other promises in the contracts and, therefore, is distinct. For contracts with multiple performance obligations, the Company allocates the contract’s transaction price to each performance obligation based on its relative standalone selling price. The stand-alone selling prices are determined based on the prices at which the Company separately sells these products. For items that are not sold separately, the Company estimates the stand-alone selling prices using other observable inputs.

The Company’s performance obligations are satisfied at a point in time or over time as the customer receives and consumes the benefits provided. Substantially all of the Company’s product sales revenues are recognized at a point in time. Substantially all of the Company’s subscription and support revenues are recognized over time. For revenues recognized over time, the Company primarily uses an input measure, days elapsed, to measure progress.

As of December 31, 2025, the Company had $642.9 million of remaining performance obligations, which is primarily comprised of deferred SaaS subscription and deferred support revenues. The Company expects to recognize approximately 30% of its deferred revenue as revenue in the remainder of fiscal 2026, an additional 34% in fiscal 2027, and the remaining 36% of the balance thereafter.

Contract Balances. The timing of revenue recognition, billings and cash collections results in billed accounts receivable and deferred revenue in the condensed consolidated balance sheets. Services provided under renewable SaaS subscription and support arrangements of the Company are billed in accordance with agreed-upon contractual terms, which are either billed fully at the inception of contract or at periodic intervals (e.g., quarterly or annually). The Company generally receives payments from its customers in advance of services being provided, resulting in deferred revenues. These liabilities are reported on the condensed consolidated balance sheets on a contract-by-contract basis at the end of each reporting period.

Revenue recognized for the three months ended December 31, 2025 and 2024 that was included in the deferred revenue balance at the beginning of each period was $107.6 million and $101.3 million, respectively. Revenue recognized for the six months ended December 31, 2025 and 2024 that was included in the deferred revenue balance at the beginning of each period was $193.7 million and $183.3 million, respectively.

Contract Costs. The Company recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that the Company otherwise would have recognized is one year or less. Management expects that commission fees paid to sales representatives as a result of obtaining subscription and support contracts and contract renewals are recoverable and therefore the Company’s condensed consolidated balance sheets included capitalized balances in the amount of $29.4 million and $26.9 million as of December 31, 2025 and June 30, 2025, respectively. Capitalized commissions are included within other assets in the condensed consolidated balance sheets. Capitalized commission fees are amortized on a straight-line basis over the average period of service contracts of approximately three years, and are included in “Sales and marketing” in the accompanying condensed consolidated statements of operations. Amortization recognized during the three months ended December 31, 2025 and 2024 was $3.5 million and $3.1 million, respectively. Amortization recognized during the six months ended December 31, 2025 and 2024 was $6.9 million and $6.1 million, respectively.

Estimated Variable Consideration. There were no material changes in the current period to the estimated variable consideration for performance obligations, which were satisfied or partially satisfied during previous periods.

Revenues by Geography

The Company operates in three geographic regions: Americas, EMEA (Europe, Middle East and Africa) and APAC (Asia Pacific). The following table presents the Company’s net revenues disaggregated by geographic region (in thousands):

 

Three Months Ended

 

Six Months Ended

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2025

 

 

December 31, 2024

 

Americas:

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$

135,173

 

 

$

119,678

 

 

$

271,557

 

 

$

272,931

 

Other

 

 

13,218

 

 

 

11,710

 

 

 

26,093

 

 

 

23,892

 

Total Americas

 

 

148,391

 

 

 

131,388

 

 

 

297,650

 

 

 

296,823

 

EMEA

 

 

140,389

 

 

 

128,257

 

 

 

261,635

 

 

 

213,175

 

APAC

 

 

29,145

 

 

 

19,710

 

 

 

68,885

 

 

 

38,561

 

Total net revenues

 

$

317,925

 

 

$

279,355

 

 

$

628,170

 

 

$

548,559

 

Geographic Concentrations

For the three and six months ended December 31, 2025 the Company generated 15% and 13% of its net revenues from the Netherlands, respectively. For the three and six months ended December 31, 2024, the Company generated 15% and 11% of its net revenues from the Netherlands, respectively. No other foreign country accounted for 10% or more of the Company's net revenues for the three and six months ended December 31, 2025 and 2024.

 

Customer Concentrations

The Company performs ongoing credit evaluations of its customers and generally does not require collateral in exchange for credit.

The following table presents customers accounting for 10% or more of the Company’s net revenues for the periods indicated below:

 

 

Three Months Ended

 

Six Months Ended

 

 

December 31, 2025

 

December 31, 2024

 

December 31, 2025

 

December 31, 2024

Westcon Group, Inc.

 

22%

 

22%

 

19%

 

18%

TD Synnex Corporation

 

17%

 

17%

 

16%

 

19%

Jenne, Inc.

 

16%

 

15%

 

17%

 

18%

 

 

 

 

 

 

 

 

 

The following table presents major customers accounting for 10% or more of the Company’s net accounts receivable balance:

 

 

 

 

 

December 31, 2025

 

June 30, 2025

Jenne, Inc.

 

22%

 

22%

Westcon Group, Inc.

 

16%

 

*

TD Synnex Corporation

 

10%

 

*

Ericsson, Inc.

 

*

 

11%

 * Less than 10% of accounts receivable

 

 

 

 
v3.25.4
Balance Sheet Accounts
 6 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Accounts
4.
Balance Sheet Accounts

 

Cash and Cash Equivalents

The Company considers highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents.

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

 

 

December 31, 2025

 

 

June 30, 2025

 

Cash

 

$

213,605

 

 

$

225,656

 

Cash equivalents

 

 

6,186

 

 

 

6,089

 

Total cash and cash equivalents

 

$

219,791

 

 

$

231,745

 

 

Inventories

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

 

 

December 31, 2025

 

 

June 30, 2025

 

Finished goods

 

$

49,022

 

 

$

57,770

 

Raw materials

 

 

34,571

 

 

 

44,808

 

Total inventories

 

$

83,593

 

 

$

102,578

 

 

Property and Equipment, Net

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

 

 

December 31, 2025

 

 

June 30, 2025

 

Computers and equipment

 

$

85,566

 

 

$

80,782

 

Software

 

 

64,227

 

 

 

62,089

 

Office equipment, furniture and fixtures

 

 

8,137

 

 

 

8,031

 

Leasehold improvements

 

 

48,133

 

 

 

47,962

 

Total property and equipment

 

 

206,063

 

 

 

198,864

 

Less: accumulated depreciation and amortization

 

 

(155,835

)

 

 

(154,498

)

Property and equipment, net

 

$

50,228

 

 

$

44,366

 

 

Deferred Revenue

Deferred revenue represents invoiced amounts for deferred subscription and support and other deferred revenue including professional services and training when the revenue recognition criteria have not been met.

Guarantees and Product Warranties

The majority of the Company’s hardware products are shipped with either a one-year warranty or a limited lifetime warranty, and software products receive a 90-day warranty. Upon shipment of products to its customers, the Company estimates expenses for the cost to repair or replace products that may be returned under warranty and accrues a liability in cost of product revenues for this amount. The determination of the Company’s warranty requirements is based on actual historical experience with the product or product family, estimates of repair and replacement costs, and any product warranty problems that are identified after shipment. The Company estimates and adjusts these accruals at each balance sheet date in accordance with changes in these factors.

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

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2025

 

 

December 31, 2024

 

Balance at beginning of period

 

$

9,625

 

 

$

10,239

 

 

$

9,684

 

 

$

10,942

 

New warranties issued

 

 

2,767

 

 

 

3,045

 

 

 

5,792

 

 

 

5,531

 

Warranty expenditures

 

 

(2,764

)

 

 

(3,248

)

 

 

(5,848

)

 

 

(6,437

)

Balance at end of period

 

$

9,628

 

 

$

10,036

 

 

$

9,628

 

 

$

10,036

 

 

To facilitate sales of its products in the normal course of business, the Company indemnifies its resellers and end-user customers with respect to certain matters. The Company has agreed to hold the customer harmless against losses arising from intellectual property infringement or other claims made against certain parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. It is not possible to estimate the maximum potential amount under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made by the Company under these agreements have not had a material impact on its operating results or financial position.

 

Concentrations

The Company may be subject to concentration of credit risk as a result of certain financial instruments consisting of accounts receivable. See Note 3, Revenues, for the Company’s accounts receivable concentration. The Company does not invest an amount exceeding 10% of its combined cash in the securities of any one obligor or maker, except for obligations of the United States government, obligations of United States government agencies, and money market accounts.

v3.25.4
Fair Value Measurements
 6 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements
5.
Fair Value Measurements

A three-tier fair value hierarchy is utilized to prioritize the inputs used in measuring fair value. The hierarchy gives the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels are defined as follows:

•
Level 1 Inputs - unadjusted quoted prices in active markets for identical assets or liabilities;
•
Level 2 Inputs - quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument; and
•
Level 3 Inputs - unobservable inputs reflecting the Company’s own assumptions in measuring the asset or liability at fair value.

The following table presents the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis (in thousands):

December 31, 2025

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Certificates of deposit

 

$

—

 

 

$

6,186

 

 

$

—

 

 

$

6,186

 

Foreign currency derivatives not designated as hedging instruments

 

 

—

 

 

 

124

 

 

 

—

 

 

 

124

 

Total assets measured at fair value

 

$

—

 

 

$

6,310

 

 

$

—

 

 

$

6,310

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency derivatives not designated as hedging instruments

 

$

—

 

 

$

45

 

 

$

—

 

 

$

45

 

Foreign currency derivatives designated as hedging instruments

 

 

—

 

 

 

182

 

 

 

—

 

 

 

182

 

Total liabilities measured at fair value

 

$

—

 

 

$

227

 

 

$

—

 

 

$

227

 

 

June 30, 2025

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Certificates of deposit

 

$

—

 

 

$

6,089

 

 

$

—

 

 

$

6,089

 

Foreign currency derivatives not designated as hedging instruments

 

 

—

 

 

 

298

 

 

 

—

 

 

 

298

 

Total assets measured at fair value

 

$

—

 

 

$

6,387

 

 

$

—

 

 

$

6,387

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency derivatives not designated as hedging instruments

 

$

—

 

 

$

11

 

 

$

—

 

 

$

11

 

Total liabilities measured at fair value

 

$

—

 

 

$

11

 

 

$

—

 

 

$

11

 

Level 1 Assets and Liabilities:

The Company’s financial instruments consist of cash, accounts receivable, accounts payable, and accrued liabilities. The Company states accounts receivable, accounts payable, and accrued liabilities at their carrying value, which approximates fair value due to the short time to the expected receipt or payment.

Level 2 Assets and Liabilities:

The Company's level 2 assets consist of certificates of deposit and derivative instruments. Certificates of deposit do not have regular market pricing and are considered Level 2. The fair value of derivative instruments under the Company’s foreign exchange forward contracts and zero-cost collar contracts are estimated based on valuations provided by alternative pricing sources supported by observable inputs, which is considered Level 2.

As of December 31, 2025 and June 30, 2025, the Company had investment in certificates of deposit of $6.2 million and $6.1 million, respectively, with maturity of three months at the date of purchase, which are recorded as cash equivalents in the condensed

consolidated balance sheets. The Company considers these cash equivalents to be available-for-sale and, as of December 31, 2025 and June 30, 2025, their fair value approximated their amortized cost.

As of December 31, 2025 and June 30, 2025, the Company had foreign exchange forward contracts that were not designated as hedging instruments with a total notional principal amount of $68.4 million and $57.2 million, respectively. Changes in the fair value of these foreign exchange forward contracts not designated as hedging instruments are included in “Other income (expense), net” in the condensed consolidated statements of operations. For the three months ended December 31, 2025 and 2024, the net gains and losses recorded in the condensed consolidated statement of operations were net losses of $0.4 million and $2.1 million, respectively. For the six months ended December 31, 2025 and 2024, the net gains and losses recorded in the condensed consolidated statement of operations were net losses of $1.8 million and $1.3 million, respectively. See Note 12, Derivatives and Hedging, for additional information.

As of December 31, 2025, the Company had zero-cost collar contracts that were designated as hedging instruments with a total notional principal amount of $55.1 million. As of June 30, 2025, there were no outstanding zero-cost collar contracts that were designated as hedging instruments. The changes in fair value of these zero-cost collar contracts designated as hedging instruments are included in “Accumulated other comprehensive loss” in the condensed consolidated balance sheets. Amounts recorded in “Accumulated other comprehensive loss” related to the changes in the fair value of the zero-cost collar contracts are reclassified into the condensed consolidated statement of operations in the period that the hedged item impacts earnings. For each of the three and six months ended December 31, 2025, these contracts had unrealized losses of $0.2 million which are recorded as a component of "Accumulated other comprehensive loss". See Note 12, Derivatives and Hedging, for additional information.

The fair value of borrowings under the Amended Credit Agreement (as defined in Note 7) is estimated based on valuations provided by alternative pricing sources supported by observable inputs which is considered Level 2. Since the interest rate is variable in the Amended Credit Agreement, the fair value approximates the face amount of the Company’s indebtedness of $172.5 million and $180.0 million as of December 31, 2025 and June 30, 2025, respectively.

Level 3 Assets and Liabilities:

Certain of the Company’s assets, including intangible assets and goodwill, are measured at fair value on a non-recurring basis if impairment is indicated.

As of December 31, 2025 and June 30, 2025, the Company did not have any assets or liabilities that were considered Level 3.

There were no transfers of assets or liabilities between Level 1, Level 2, or Level 3 during the three and six months ended December 31, 2025 and 2024. There were no impairments recorded for the three and six months ended December 31, 2025 and 2024.
v3.25.4
Intangible Assets and Goodwill
 6 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill
6.
Intangible Assets and Goodwill

 

Intangible Assets

The following tables summarize the components of gross and net intangible assets (in thousands, except years):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average
Remaining Amortization

 

Gross Carrying

 

 

Accumulated

 

 

Net Carrying

 

 

 

Period

 

Amount

 

 

Amortization

 

 

Amount

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

Developed technology

 

2.7 years

 

$

170,538

 

 

$

166,877

 

 

$

3,661

 

Customer relationships

 

0.6 years

 

 

66,630

 

 

 

65,681

 

 

 

949

 

Trade names

 

0.0 years

 

 

10,700

 

 

 

10,700

 

 

 

—

 

License agreements

 

1.0 years

 

 

1,282

 

 

 

1,210

 

 

 

72

 

Total intangible assets, net*

 

 

 

$

249,150

 

 

$

244,468

 

 

$

4,682

 

* The carrying amount of foreign intangible assets are affected by foreign currency translation.

 

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

 

 

 

Remaining Amortization

 

Gross Carrying

 

 

Accumulated

 

 

Net Carrying

 

 

 

Period

 

Amount

 

 

Amortization

 

 

Amount

 

June 30, 2025

 

 

 

 

 

 

 

 

 

 

 

Developed technology

 

3.0 years

 

$

170,480

 

 

$

165,908

 

 

$

4,572

 

Customer relationships

 

1.0 years

 

 

64,824

 

 

 

62,961

 

 

 

1,863

 

Trade names

 

0.0 years

 

 

10,700

 

 

 

10,700

 

 

 

—

 

License agreements

 

1.4 years

 

 

1,282

 

 

 

1,176

 

 

 

106

 

Total intangible assets, net*

 

 

$

247,286

 

 

$

240,745

 

 

$

6,541

 

* The carrying amount of foreign intangible assets are affected by foreign currency translation.

 

 

 

 

 

The following table summarizes the amortization expense of intangible assets for the periods presented (in thousands):

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2025

 

 

December 31, 2024

 

 

Amortization of intangible assets in “Total cost of revenues”

 

$

352

 

 

$

606

 

 

$

963

 

 

$

1,230

 

 

Amortization of intangible assets in “Total operating expenses”

 

 

407

 

 

 

509

 

 

 

907

 

 

 

1,021

 

 

Total amortization expense

 

$

759

 

 

$

1,115

 

 

$

1,870

 

 

$

2,251

 

 

The amortization expense that is recognized in “Total cost of revenues” primarily consists of amortization related to developed technology and license agreements.

The estimated future amortization expense to be recorded for each of the respective future fiscal years is as follows (in thousands):

 

 

Amount

 

For the fiscal year ending June 30:

 

 

 

2026 (the remainder of fiscal 2026)

 

$

1,524

 

2027

 

 

1,524

 

2028

 

 

1,353

 

2029

 

 

281

 

Total

 

$

4,682

 

Goodwill

The Company had goodwill in the amount of $399.9 million and $399.6 million as of December 31, 2025 and June 30, 2025, respectively. The change in goodwill during the six months ended December 31, 2025 is primarily due to foreign currency translation adjustments which are recorded as a component of "Accumulated other comprehensive loss" in the condensed consolidated balance sheets.
v3.25.4
Debt
 6 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Debt
7.
Debt

The Company’s debt is comprised of the following (in thousands):

 

 

December 31, 2025

 

 

June 30, 2025

 

Current portion of long-term debt:

 

 

 

 

 

 

Term loan

 

$

17,500

 

 

$

15,000

 

Less: unamortized debt issuance costs

 

 

(698

)

 

 

(729

)

Current portion of long-term debt

 

$

16,802

 

 

$

14,271

 

 

 

 

 

 

 

 

Long-term debt, less current portion:

 

 

 

 

 

 

Term loan

 

$

155,000

 

 

$

165,000

 

Less: unamortized debt issuance costs

 

 

(937

)

 

 

(1,276

)

Total long-term debt, less current portion

 

 

154,063

 

 

 

163,724

 

Total debt

 

$

170,865

 

 

$

177,995

 

On June 22, 2023, the Company entered into a Second Amended and Restated Credit Agreement (the “2023 Credit Agreement”), by and among the Company, as borrower, BMO Harris Bank, N.A., as an issuing lender and swingline lender, Bank of America, N.A., JPMorgan Chase Bank, N.A., PNC Bank, National Association, and Wells Fargo Bank, National Association, as issuing lenders, the financial institutions or entities party thereto as lenders, and Bank of Montreal, as administrative agent and collateral agent, which amended and restated the Amended and Restated Credit Agreement, dated August 9, 2019, by and among the Company, as borrower, several banks and other financial institutions as Lenders, BMO Harris Bank N.A., as an issuing lender and swingline lender, Silicon Valley Bank, as an Issuing Lender, and Bank of Montreal, as administrative agent and collateral agent for the Lenders. The 2023 Credit Agreement provides for i) a $200.0 million first lien term loan facility in an aggregate principal amount (the “2023 Term Loan”), ii) a $150.0 million five-year revolving credit facility (the “2023 Revolving Facility”) and, iii) an uncommitted additional incremental loan facility in the principal amount of up to $100.0 million.

Borrowings under the 2023 Credit Agreement bear interest, and at the Company’s election, the initial term loan may be made as either a base rate loan or a Secured Overnight Funding Rate (“SOFR”) loan. The applicable margin for base rate loans ranges from 1.00% to 1.75% per annum, and the applicable margin for SOFR loans ranges from 2.00% to 2.75%, in each case based on the Company’s consolidated leverage ratio. All SOFR loans are subject to a floor of 0.00% per annum and spread adjustment of 0.10% per annum. The Company paid other closing fees, arrangement fees, and administration fees associated with the 2023 Credit Agreement.

The 2023 Credit Agreement requires the Company to maintain certain minimum financial ratios at the end of each fiscal quarter. The 2023 Credit Agreement also includes covenants and restrictions that limit, among other things, the Company’s ability to incur additional indebtedness, create liens upon any of its property, merge, consolidate or sell all or substantially all of its assets. The 2023 Credit Agreement also includes customary events of default which may result in acceleration of the outstanding balance.

On August 14, 2024, the Company entered into an Amendment Number One to the 2023 Credit Agreement (the 2023 Credit Agreement as amended by that certain Amendment Number One, the “Amended Credit Agreement”). Under the Amended Credit Agreement, the Company modified the definition of the consolidated EBITDA for the purposes of evaluating compliance with financial covenants under the 2023 Credit Agreement. The amended definition of consolidated EBITDA modifies the amount and type of add-backs that are allowable to better align with the Company's operations and activities. Further, the Amended Credit Agreement provided a waiver for the Company's compliance with the consolidated interest charge coverage ratio for each of the quarters ended June 30, 2024, September 30, 2024, and December 31, 2024. As of December 31, 2025, the Company was in compliance with the modified terms and financial covenants under the Amended Credit Agreement.

Financing costs incurred in connection with obtaining long-term financing are deferred and amortized over the term of the related indebtedness or credit agreement. Amortization of deferred financing costs is included in “Interest expense” in the accompanying condensed consolidated statements of operations was $0.3 million for each of the three months ended December 31, 2025 and 2024, and was $0.6 million for each of the six months ended December 31, 2025 and 2024. The interest rate was 5.92% and 6.84% as of December 31, 2025 and 2024, respectively.

As of December 31, 2025, the Company did not have any outstanding balance against its 2023 Revolving Facility and had $135.8 million of availability for borrowing under the 2023 Revolving Facility. During the three and six months ended December 31, 2025 and 2024, the Company did not make any additional payments against its term loan facility other than the scheduled payments per the terms of the Amended Credit Agreement.

The Company had $14.2 million of outstanding letters of credit as of December 31, 2025.
v3.25.4
Commitments and Contingencies
 6 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
8.
Commitments and Contingencies

Purchase Commitments

The Company currently has arrangements with contract manufacturers and suppliers for the manufacture of its products. Those arrangements allow the contract manufacturers to procure long lead-time component inventory based upon a rolling production forecast provided by the Company. The Company is obligated to purchase long lead-time component inventory that its contract manufacturer procures in accordance with the forecast, unless the Company gives notice of order cancellation outside of applicable component lead-times. As of December 31, 2025, the Company had commitments to purchase $52.2 million of inventory.

Legal Proceedings

The Company may from time to time be party to litigation arising in the course of its business, including, without limitation, allegations relating to commercial transactions, business relationships, or intellectual property rights. Such claims, even if not meritorious, could result in the expenditure of significant financial and managerial resources. Litigation in general, and intellectual property litigation in particular, can be expensive and disruptive to normal business operations. Moreover, the results of legal proceedings are difficult to predict.

In accordance with applicable accounting guidance, the Company records accruals for certain of its outstanding legal proceedings, investigations or claims when it is probable that a liability will be incurred, and the amount of loss can be reasonably estimated. The Company evaluates, at least on a quarterly basis, developments in legal proceedings, investigations or claims that could affect the amount of any accrual, as well as any developments that would result in a loss contingency to become both probable and reasonably estimable. When a loss contingency is not both probable and reasonably estimable, the Company does not record a loss accrual. However, if the loss (or an additional loss in excess of any prior accrual) is at least reasonably possible and material, then the Company would disclose an estimate of the possible loss or range of loss, if such estimate can be made, or disclose that an estimate cannot be made. The assessment of whether a loss is probable or a reasonable possibility, and whether the loss or a range of loss is estimable, involves a series of complex judgments about future events. Even if a loss is reasonably possible, the Company may not be able to estimate a range of possible loss, particularly where (i) the damages sought are substantial or indeterminate, (ii) the proceedings are in the early stages, or (iii) the matters involve novel or unsettled legal theories or a large number of parties. In such cases, there is considerable uncertainty regarding the ultimate resolution of such matters, including the amount of any possible loss, fine or penalty. However, an adverse resolution of one or more of such matters could have a material adverse effect on the Company's results of operations in a particular quarter or fiscal year.

Mala Technologies Ltd. v. Extreme Networks GmbH, Extreme Networks Ireland Ops Ltd., and Extreme Networks, Inc.

On April 15, 2021, Mala Technologies Ltd. (“Mala”) filed a patent infringement lawsuit against the Company and its Irish and German subsidiaries in the District Court in Dusseldorf, Germany. The lawsuit alleges indirect infringement of the German portion of a patent (“EP ‘498”) based on the offer and sale in Germany of certain network switches equipped with the ExtremeXOS operating system.

Mala is seeking injunctive relief, accounting, and an unspecified declaration of liability for damages and costs of the lawsuit. On December 20, 2022, the trial court ruled that the Company did not infringe the EP ‘498 patent and dismissed Mala’s complaint entirely. Mala has filed an appeal. On December 9, 2024, the Higher Regional Court stayed the matter until the nullity action has been finally decided.

The Company filed a nullity complaint against EP ‘498 with the German Federal Patent Court on September 24, 2021. The German Federal Patent Court issued a decision finding that the patent was invalid on November 20, 2024. Mala appealed the decision on March 3, 2025, and filed its Grounds of Appeal on June 5, 2025. The Company filed its response to the Grounds of Appeal on October 6, 2025.

Steamfitters Local 449 Pension & Retirement Security Funds v. Extreme Networks, Inc., et al.

On August 13, 2024, a putative securities class action (the “Class Action”) was filed in the United States District Court for the Northern District of California captioned Steamfitters Local 449 Pension & Retirement Security Funds v. Extreme Networks, Inc., et al., Case No. 5:24-cv-05102-TLT, naming the Company and certain of its current and former executive officers as defendants. The lawsuit is purportedly brought on behalf of purchasers of Extreme Networks securities between July 27, 2022 and January 30, 2024 (the “Class Period”). The complaint alleges claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, based on allegedly false and misleading statements about the Company's business and prospects during the Class Period. The lawsuit seeks unspecified damages. On December 30, 2024, the Court selected Oklahoma Firefighters Pension and Retirement System, Oklahoma Police Pension and Retirement System, Oakland County Voluntary Employees’ Beneficiary Association, Oakland County Employees’ Retirement System as the lead plaintiffs. The Company's Motion to Dismiss was granted on August 15, 2025, but the plaintiffs were granted leave to file a second amended complaint. Plaintiffs filed a second amended complaint on September 9, 2025. The Company filed a motion to dismiss the second amended complaint on October 3, 2025.

On February 27, 2025, a shareholder derivative case was filed in the United States District Court for the Northern District of California captioned Turner v. Brown et al., Case No. 3:25-cv-02101. On March 6, 2025, a shareholder derivative case was filed in the United States District Court for the Northern District of California captioned Hemani v. Meyercord et al., Case No. 3:25-cv-02318-AGT. On March 25, 2025, a shareholder derivative case was filed in the United States District Court for the Eastern District of North Carolina captioned Miller v. Meyercord et al., Case No. 5:25-cv-00161. Each of these shareholder derivative cases names current and former officers, directors, and employees of the Company as defendants, and seeks recovery on behalf of the Company based on substantially the same allegations as the Class Action. Plaintiffs filed an amended complaint in the two California shareholder derivative cases on December 1, 2025. The Company filed a motion to dismiss the amended complaint on December 19, 2025. The North Carolina case remains stayed pending a decision on the motion to dismiss the second amended complaint in the Class Action.

Indemnification Obligations

Subject to certain limitations, the Company may be obligated to indemnify its current and former directors, officers, and employees. These obligations arise under the terms of its certificate of incorporation, its bylaws, applicable contracts, and applicable law. The obligation to indemnify, where applicable, generally means that the Company is required to pay or reimburse, and in certain circumstances the Company has paid or reimbursed, the individuals’ reasonable legal expenses and possible damages and other liabilities incurred in connection with certain legal matters. The Company also procures Directors and Officers liability insurance to help cover its defense and/or indemnification costs, although its ability to recover such costs through insurance is uncertain. While it is not possible to estimate the maximum potential amount that could be owed under these governing documents and agreements due to the Company’s limited history with prior indemnification claims, indemnification (including defense) costs could, in the future, have a material adverse effect on the Company’s consolidated financial position, results of operations and cash flows.
v3.25.4
Stockholders' Equity
 6 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Stockholders' Equity
9.
Stockholders’ Equity

Equity Incentive Plan

The Compensation Committee of the Board unanimously approved an amendment to the Extreme Networks, Inc. Amended and Restated 2013 Equity Incentive Plan (the “2013 Plan”) on September 14, 2025 to increase the maximum number of available shares by 6.8 million shares, which was approved by the stockholders of the Company at the annual meeting of stockholders held on November 12, 2025.

Common Stock Repurchases

On February 18, 2025, the Company announced that the Board had authorized management to repurchase up to $200.0 million of shares of the Company's common stock over a three-year period, commencing July 1, 2025 (the “2025 Repurchase Program”). Purchases may be made from time to time in the open market or pursuant to a 10b5-1 plan.

During the three months ended December 31, 2025, the Company did not repurchase any shares of its common stock. During the six months ended December 31, 2025, the Company repurchased a total of 577,281 shares of its common stock on the open market at a total cost of $12.0 million with an average price of $20.79 per share. During the three and six months ended December 31, 2024, the Company did not repurchase any shares of its common stock. As of December 31, 2025, approximately $188.0 million remains available for share repurchases under the 2025 Repurchase Program.

As a provision of the Inflation Reduction Act enacted in the U.S., the Company is subject to an excise tax on corporate stock repurchases, which is assessed as one percent of the fair market value of net corporate stock repurchases after December 31, 2022. The Company had no excise tax liability for fiscal 2025 and expects the impact of the excise tax on net corporate stock repurchases will not be material for fiscal 2026.
v3.25.4
Employee Benefit Plans
 6 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Employee Benefit Plans
10.
Employee Benefit Plans

Shares Reserved for Issuance

The Company had the following reserved shares of common stock for future issuance as of the dates noted (in thousands):

 

 

December 31, 2025

 

 

June 30, 2025

 

2013 Equity Incentive Plan shares available for grant

 

 

13,153

 

 

 

10,935

 

Employee stock options and awards outstanding

 

 

8,509

 

 

 

7,566

 

2014 Employee Stock Purchase Plan

 

 

5,418

 

 

 

5,952

 

Total shares reserved for issuance

 

 

27,080

 

 

 

24,453

 

Share-based Compensation Expense

Share-based compensation expense recognized in the condensed consolidated financial statements by line-item caption is as follows (in thousands):

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2025

 

 

December 31, 2024

 

Cost of product revenues

 

$

796

 

 

$

680

 

 

$

1,548

 

 

$

1,298

 

Cost of subscription and support revenues

 

 

759

 

 

 

798

 

 

 

1,486

 

 

 

1,487

 

Research and development

 

 

4,639

 

 

 

4,467

 

 

 

9,086

 

 

 

8,680

 

Sales and marketing

 

 

8,009

 

 

 

7,596

 

 

 

15,522

 

 

 

14,478

 

General and administrative

 

 

8,696

 

 

 

7,911

 

 

 

17,037

 

 

 

15,276

 

Total share-based compensation expense

 

$

22,899

 

 

$

21,452

 

 

$

44,679

 

 

$

41,219

 

 

Stock Options

The following table summarizes stock option activity for the six months ended December 31, 2025 (in thousands, except per share amount and contractual term):

 

 

Number of Shares

 

 

Weighted-Average Exercise Price Per Share

 

 

Weighted-Average Remaining Contractual Term (years)

 

 

Aggregate Intrinsic Value

 

Options outstanding at June 30, 2025

 

 

496

 

 

$

6.70

 

 

 

1.16

 

 

$

5,580

 

Granted

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Exercised

 

 

(121

)

 

 

—

 

 

 

 

 

 

 

Canceled

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Options outstanding at December 31, 2025

 

 

375

 

 

$

6.70

 

 

 

0.66

 

 

$

3,727

 

Vested and expected to vest at December 31, 2025

 

 

375

 

 

$

6.70

 

 

 

0.66

 

 

$

3,727

 

Exercisable at December 31, 2025

 

 

375

 

 

$

6.70

 

 

 

0.66

 

 

$

3,727

 

There were no stock options granted during the three and six months ended December 31, 2025 and 2024.

Stock Awards

Stock awards may be granted under the 2013 Plan on terms approved by the Compensation Committee of the Board. Stock awards generally provide for the issuance of restricted stock units (“RSUs”) including performance-condition or market-condition RSUs which vest over a fixed period of time or based upon the satisfaction of certain performance criteria or market conditions. The Company

recognizes compensation expense on the stock awards over the vesting period based on the awards’ fair value as of the date of grant. The Company does not estimate forfeitures, but accounts for them as incurred.

The following table summarizes stock award activity for the six months ended December 31, 2025 (in thousands, except grant date fair value):

 

 

Number of Shares

 

 

Weighted- Average Grant Date Fair Value

 

 

Aggregate Fair Value

 

Non-vested stock awards outstanding at June 30, 2025

 

 

7,070

 

 

$

19.53

 

 

 

 

Granted

 

 

4,351

 

 

 

20.87

 

 

 

 

Released

 

 

(3,185

)

 

 

18.86

 

 

 

Canceled

 

 

(102

)

 

 

19.84

 

 

 

 

Non-vested stock awards outstanding at December 31, 2025

 

 

8,134

 

 

$

20.57

 

 

 

 

Stock awards expected to vest at December 31, 2025

 

 

8,134

 

 

$

20.57

 

 

$

167,311

 

The RSUs granted under the 2013 Plan vest over a period of time, generally one to three years, and are subject to participant's continued service to the Company.

During the six months ended December 31, 2025, the Company granted 0.8 million stock awards with vesting based on market conditions (“MSU”) to certain of the Company’s employees. The MSUs vest based on the Company’s total shareholder return (“TSR”) relative to the TSR of the Russell 2000 Index (“Index”). The MSU award represents the right to receive a target number of shares of common stock of up to 150% of the original grant. The MSUs vest based on the Company’s TSR relative to the TSR of the Index over performance periods of three years from the grant date, subject to the grantees’ continued service through the certification of performance.

The grant date fair value of each MSU was determined using the Monte Carlo simulation model. The weighted-average grant-date fair value of the TSR MSUs granted during the six months ended December 31, 2025 and 2024 was $22.23 per share and $17.22 per share, respectively. The following assumptions used to determine the grant-date fair values of the MSU during the following periods:

 

 

Equity Incentive Plan

 

 

 

 

Six Months Ended

 

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

Expected term

 

3.0 years

 

 

3.0 years

 

 

Risk-free interest rate

 

 

3.70

%

 

 

3.86

%

 

Volatility

 

 

45

%

 

 

48

%

 

Dividend yield

 

 

—

%

 

 

—

%

 

As of December 31, 2025, there was $119.8 million in unrecognized compensation cost related to non-vested stock awards, including performance and market condition awards. This cost is expected to be recognized over a weighted average period of 1.80 years.

Employee Stock Purchase Plan

There were approximately 0.5 million shares issued under the ESPP during each of the six months ended December 31, 2025 and 2024, respectively. The following assumptions were used to determine the grant-date fair values of the ESPP shares during the following periods:

 

 

Employee Stock Purchase Plan

 

 

 

 

Six Months Ended

 

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

Expected term

 

0.5 years

 

 

0.5 years

 

 

Risk-free interest rate

 

 

4.12

%

 

 

5.04

%

 

Volatility

 

 

50

%

 

 

36

%

 

Dividend yield

 

 

—

%

 

 

—

%

 

The weighted-average grant-date fair value of shares under the ESPP during the six months ended December 31, 2025 and 2024 was $5.83 and $3.74 per share, respectively.
v3.25.4
Information about Segments and Geographic Areas
 6 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Information about Segments and Geographic Areas
11.
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 decide where to allocate and invest additional resources within the business. Consolidated non-GAAP net income is also used in the Company's annual budgeting and forecasting processes to establish goals and compare actual results against both budgeted targets and historical performance.

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 expense, net, and the provision for income taxes, which are reflected in the condensed consolidated statements of operations.

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

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2025

 

 

December 31, 2024

 

GAAP net income (loss)

 

$

7,876

 

 

$

7,382

 

 

$

13,487

 

 

$

(3,122

)

Adjustments:

 

 

 

 

 

 

 

 

 

 

 

 

Share-based compensation expense

 

 

22,899

 

 

 

21,452

 

 

 

44,679

 

 

 

41,219

 

Restructuring and related charges

 

 

167

 

 

 

1,035

 

 

 

538

 

 

 

2,312

 

Litigation charges(1)

 

 

822

 

 

 

877

 

 

 

2,759

 

 

 

11,593

 

System transition costs(2)

 

 

6,467

 

 

 

4,026

 

 

 

11,392

 

 

 

9,371

 

Other non-recurring costs(3)

 

 

3,648

 

 

 

—

 

 

 

3,648

 

 

 

—

 

Amortization of intangibles

 

 

741

 

 

 

1,098

 

 

 

1,834

 

 

 

2,216

 

Debt refinancing charges

 

 

—

 

 

 

—

 

 

 

—

 

 

 

79

 

Tax effect of non-GAAP adjustments

 

 

(7,895

)

 

 

(7,297

)

 

 

(13,468

)

 

 

(12,695

)

Total adjustments to GAAP net income (loss)

 

$

26,849

 

 

$

21,191

 

 

$

51,382

 

 

$

54,095

 

Non-GAAP net income

 

$

34,725

 

 

$

28,573

 

 

$

64,869

 

 

$

50,973

 

(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.

(2)System transition costs consist of costs related to direct and incremental costs incurred in connection with our multi-phase transition of our customer relationship management solution, our configure, price, quote solution and our enterprise resource planning tools that were not capitalizable.

(3)Other non-recurring costs consist of certain external advisory and professional fees incurred for various non-recurring transactions and activities that occur outside of the normal course of business.

Measure of segment assets:

The measure of segment assets that is reviewed by the CODM is reported within the condensed consolidated balance sheets as “Total assets.” Depreciation expense recorded for the three months ended December 31, 2025 and 2024 was $3.9 million and $3.8 million, respectively. Depreciation expense recorded for each of the six months ended December 31, 2025 and 2024 was $7.7 million.

Total expenditures for additions to property, plant and equipment recorded for each of the three months ended December 31, 2025 and 2024 was $7.1 million and $5.4 million, respectively. Total expenditures for additions to property, plant and equipment recorded for the six months ended December 31, 2025 and 2024 was $13.9 million and $12.3 million, respectively.

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

 

 

 

 

 

 

December 31, 2025

 

 

June 30, 2025

 

Segment long-lived assets:

 

 

 

 

 

 

Americas

 

$

185,144

 

 

$

167,499

 

EMEA

 

 

38,686

 

 

 

40,299

 

APAC

 

 

9,258

 

 

 

10,550

 

Total segment long-lived assets

 

$

233,088

 

 

$

218,348

 
v3.25.4
Derivatives and Hedging
 6 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives and Hedging
12.
Derivatives and Hedging

The Company uses derivative financial instruments to manage exposures to foreign currency risk that may or may not be designated as hedging instruments. The Company’s objective for holding derivatives is to use the most effective methods to minimize the impact of these exposures. The Company does not enter into derivatives for speculative or trading purposes. The Company enters into foreign exchange forward or zero-cost collar contracts to attempt to mitigate the effect of gains and losses generated by foreign currency transactions related to certain forecasted operating expenses and remeasurement of certain assets and liabilities denominated in foreign currencies.

Foreign Exchange Forward Contracts

For foreign exchange forward contracts not designated as hedging instruments, the fair value of the Company’s derivatives in a gain position are recorded in “Prepaid expenses and other current assets” and derivatives in a loss position are recorded in “Other accrued liabilities” in the accompanying condensed consolidated balance sheets. Changes in the fair value of derivatives are recorded in “Other income (expense), net” in the accompanying condensed consolidated statements of operations. As of December 31, 2025 and June 30, 2025, foreign exchange forward contracts not designated as hedging instruments had a total notional principal amount of $68.4 million and $57.2 million, respectively. For the three months ended December 31, 2025 and 2024, the net gains and losses recorded in the condensed consolidated statement of operations from these contracts were net losses of $0.4 million and $2.1 million, respectively. For the six months ended December 31, 2025 and 2024, the net gains and losses recorded in the condensed consolidated statement of operations were net losses of $1.8 million and $1.3 million, respectively. Changes in the fair value of these foreign exchange forward contracts are offset largely by remeasurement of the underlying assets and liabilities.

Zero-Cost Collar Contracts

During the three and six months ended December 31, 2025, the Company entered into zero-cost collar contracts that were designated as cash flow hedges, to hedge the foreign currency risk associated with forecasted foreign currency denominated operating expenses. The changes in fair value of these derivatives are recorded as a component of “Accumulated other comprehensive loss” in the condensed consolidated balance sheets. Amounts recorded in "Accumulated other comprehensive loss" related to the changes in the fair value of these derivatives are reclassified to the condensed consolidated statement of operations in the same period in which the underlying hedged transaction affects earnings.

As of December 31, 2025, the Company had zero-cost collar contracts that were designated as hedging instruments with a total notional principal amount of $55.1 million and had maturities of less than twelve months. As of June 30, 2025, there were no outstanding zero-cost collar contracts that were designated as hedging instruments. For the three and six months ended December 31, 2025, these contracts had unrealized losses of $0.2 million which are recorded as a component of "Accumulated other comprehensive loss" and realized net losses of less than $0.1 million reclassified to the condensed consolidated statement of operations.

Foreign Currency Transactions

For the three months ended December 31, 2025 and 2024, the Company recognized foreign currency transaction net losses of less than $0.1 million and foreign currency transaction net gains of $2.8 million, respectively, and for the six months ended December 31, 2025 and 2024, the Company recognized foreign currency transaction net gains of $1.0 million and $1.4 million, respectively, related to the change in fair value of foreign currency denominated assets and liabilities.
v3.25.4
Restructuring and Related Charges
 6 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Related Charges
13.
Restructuring and Related Charges

The Company recorded restructuring charges of $0.2 million and $1.0 million during the three months ended December 31, 2025 and 2024, respectively. The Company recorded restructuring charges of $0.5 million and $2.3 million during the six months ended December 31, 2025 and 2024, respectively. These charges primarily included severance and benefits costs and professional fees as well as asset disposal costs related to the restructuring plans executed in prior years.

During the third quarter of fiscal 2024, the Company executed a global reduction-in-force plan targeted towards the reorganization of the Company's research and development and sales and marketing functions to align the Company's workforce with its strategic priorities and to focus on specific geographies and industry segments with higher growth opportunities (the “Q3 2024 Plan”). During the three months ended December 31, 2025, the Company did not record any restructuring charges related to the Q3 2024 Plan. During the six months ended December 31, 2025, the Company recorded restructuring charges of $0.4 million related to the Q3 2024 Plan, which primarily consisted of severance and benefits expenses, legal and consulting fees. During the three and six months ended December 31, 2024, the Company recorded restructuring charges of $0.9 million and $1.5 million, respectively, related to the Q3 2024 Plan. These charges primarily consisted of severance and benefits expenses, legal and consulting fees.

During the second quarter of fiscal 2024, the Company executed a global reduction-in-force plan to rebalance its workforce to create greater efficiency and improve execution, in alignment with the Company's business and strategic priorities, while reducing its ongoing operating expenses to address reduced revenue and macro-economic conditions (the “Q2 2024 Plan”). During the three and six months ended December 31, 2025, the Company recorded restructuring benefits of $0.1 million and $0.2 million, respectively, related to the Q2 2024 Plan, which primarily consisted of reversals of previously established accruals related to unused severance benefits. During the three and six months ended December 31, 2024, the Company recorded restructuring charges of less than $0.1 million and $0.6 million, respectively, related to the Q2 2024 Plan, which primarily consisted of severance and benefits expenses, legal and consulting fees.

Through December 31, 2025, the Company has incurred $28.6 million in restructuring charges under the Q2 2024 Plan and Q3 2024 Plan which primarily related to severance and benefits costs. As of December 31, 2025 these plans were substantially complete.

During the third quarter of fiscal 2023, the Company initiated a restructuring plan to transform its business infrastructure and reduce its facilities footprint and the facilities related charges (the “2023 Plan”). As part of this project, the Company moved engineering labs from its San Jose, California location to its Salem, New Hampshire location. This move is expected to help reduce the cost of operating the Company's labs. During the three and six months ended December 31, 2025, the Company recorded charges of $0.3 million for asset disposals related to the 2023 Plan. During the six months ended December 31, 2024, the Company recorded restructuring charges of approximately $0.1 million related to the 2023 Plan. As of December 31, 2025 this plan was complete.

Restructuring liabilities are recorded in “Other accrued liabilities” in the accompanying condensed consolidated balance sheets. As of December 31, 2025 and June 30, 2025, the restructuring liability was less than $0.1 million and $0.7 million, respectively, related to these restructuring plans.

The following table summarizes the activity related to the Company’s restructuring and related liabilities during the following periods (in thousands):

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2025

 

 

December 31, 2024

 

Balance at beginning of period

 

$

618

 

 

$

4,393

 

 

$

693

 

 

$

11,469

 

Period charges

 

 

—

 

 

 

1,134

 

 

 

437

 

 

 

2,707

 

Period reversals

 

 

(114

)

 

 

(97

)

 

 

(180

)

 

 

(393

)

Period payments

 

 

(436

)

 

 

(2,032

)

 

 

(882

)

 

 

(10,385

)

Balance at end of period

 

$

68

 

 

$

3,398

 

 

$

68

 

 

$

3,398

 
v3.25.4
Income Taxes
 6 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes
14.
Income Taxes

For the three months ended December 31, 2025 and 2024, the Company recorded an income tax provision of $2.5 million and $2.6 million, respectively. For the six months ended December 31, 2025 and 2024, the Company recorded an income tax provision of $5.3 million and $4.1 million, respectively.

The income tax provisions for the three and six months ended December 31, 2025 and 2024, consisted of (1) taxes on the income of the Company’s foreign subsidiaries, (2) state taxes in jurisdictions where the Company has no remaining state net operating losses (“NOLs”), (3) foreign withholding taxes, and (4) tax expense associated with the establishment of a U.S. deferred tax liability for amortizable goodwill resulting from the acquisition of Enterasys Networks, Inc., the wireless local area network business from Zebra Technologies Corporation, the Campus Fabric Business from Avaya and the Data Center Business from Brocade. The interim income tax provisions for the three and six months ended December 31, 2025 and 2024 were calculated using the discrete effective tax rate method as allowed by ASC 740-270-30-18, Income Taxes – Interim Reporting. The discrete method is applied when the application of the estimated annual effective tax rate is impractical because it is not possible to reliably estimate the annual effective tax rate. The discrete method treats the year-to-date period as if it was the annual period and determines the income tax expense or benefit on that basis. The Company believes that, at this time, the use of this discrete method is more appropriate than the annual effective tax rate method as (i) the estimated annual effective tax rate method is not reliable due to the high degree of uncertainty in estimating annual

pretax earnings on a jurisdictional basis and (ii) the Company’s ongoing assessment that the recoverability of certain U.S. and Irish deferred tax assets is not more likely than not.

The Company has provided a full valuation allowance against all of its U.S. federal and state deferred tax assets as well as a portion of the deferred tax assets in Ireland. Significant judgment is required in determining any valuation allowance recorded against deferred tax assets. In assessing the need for a valuation allowance, the Company considers all available positive and negative evidence to determine whether it is “more likely than not” that deferred tax assets are recoverable including past operating results, estimates of future taxable income, changes to enacted tax laws, and the feasibility of tax planning strategies; such assessment is required on a jurisdiction-by-jurisdiction basis. The Company's inconsistent earnings in recent periods, including historical losses, tax attributes expiring unutilized in recent years and the cyclical nature of the Company's business provides sufficient negative evidence that require a full valuation allowance against its U.S. federal and state net deferred tax assets as well as a portion of the deferred tax assets in Ireland. These valuation allowances will be evaluated periodically and can be reversed partially or in whole if business results and the economic environment have sufficiently improved to support realization of some or all of the Company's deferred tax assets. In the event the Company changes its determination as to the amount of deferred tax assets that can be realized, it will adjust its valuation allowance with a corresponding impact to the provision for income taxes in the period in which such determination is made.

The Company had $18.2 million of unrecognized tax benefits as of December 31, 2025. If fully recognized in the future, $0.1 million would impact the effective tax rate and $18.1 million would result in adjustments to deferred tax assets and corresponding adjustments to the valuation allowance with no impact to the effective tax rate. The Company does not anticipate any events to occur during the next twelve months that would materially reduce the unrealized tax benefit as currently stated in the Company’s condensed consolidated balance sheets.

The Company’s policy is to accrue interest and penalties related to the underpayment of income taxes as a component of tax expense in the accompanying condensed consolidated statements of operations.

In general, the Company’s U.S. federal income tax returns are subject to examination by tax authorities for fiscal years 2004 forward due to NOLs and the Company’s state income tax returns are subject to examination for fiscal years 2005 and forward due to NOLs. In general, the Company’s Irish tax returns are subject to examination by tax authorities for fiscal years 2022 and forward.

The Company is currently under examination in the U.S. by the Internal Revenue Service for the tax year ended June 30, 2023. Management believes that adequate provision has been made in the financial statements for any potential assessments that may result from tax examinations and other tax-related matters for all open tax years.

On July 4, 2025, federal legislation commonly referred to as the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S. The OBBBA includes numerous changes to existing tax law including provisions providing current deductibility of domestic research and development costs, modifications to the limitation on deductibility of business interest expense and modifications to the international tax framework. This legislation has multiple effective dates, with certain provisions effective for the Company's fiscal year ended June 30, 2026 and others for the Company's fiscal year ended June 30, 2027. ASC 740, Income Taxes, requires the effects of changes in tax rates and laws to be recognized in the period in which the legislation is enacted. The effects of the new legislation are reflected in the condensed consolidated financial statements for the period ended December 31, 2025.
v3.25.4
Net Income (Loss) Per Share
 6 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share
15.
Net Income (Loss) Per Share

Basic net income (loss) per share is calculated by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is calculated by dividing net income (loss) by the weighted-average number of shares of common stock used in the basic net income (loss) per share calculation plus the dilutive effect of shares subject to repurchase, options and unvested RSUs.

The following table presents the calculation of net income (loss) per share of basic and diluted (in thousands, except per share data):

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2025

 

 

December 31, 2024

 

Net income (loss)

 

$

7,876

 

 

$

7,382

 

 

$

13,487

 

 

$

(3,122

)

Weighted-average shares used in per share calculation – basic

 

 

133,914

 

 

 

132,381

 

 

 

133,443

 

 

 

131,778

 

Options to purchase common stock

 

 

258

 

 

 

551

 

 

 

274

 

 

 

—

 

Restricted stock units

 

 

915

 

 

 

1,100

 

 

 

1,556

 

 

 

—

 

Employee Stock Purchase Plan shares

 

 

79

 

 

 

75

 

 

 

106

 

 

 

—

 

Weighted-average shares used in per share calculation – diluted

 

 

135,166

 

 

 

134,107

 

 

 

135,379

 

 

 

131,778

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share – basic and diluted

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share – basic

 

$

0.06

 

 

$

0.06

 

 

$

0.10

 

 

$

(0.02

)

Net income (loss) per share – diluted

 

$

0.06

 

 

$

0.06

 

 

$

0.10

 

 

$

(0.02

)

 

The following securities were excluded from the computation of net income (loss) per diluted share of common stock for the periods presented as their effect would have been anti-dilutive (in thousands):

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2025

 

 

December 31, 2024

 

Options to purchase common stock

 

 

—

 

 

 

—

 

 

 

—

 

 

 

997

 

Restricted stock units

 

 

537

 

 

 

1,295

 

 

 

554

 

 

 

5,638

 

Employee Stock Purchase Plan shares

 

 

620

 

 

 

695

 

 

 

452

 

 

 

545

 

Total shares excluded

 

 

1,157

 

 

 

1,990

 

 

 

1,006

 

 

 

7,180

 
v3.25.4
Summary of Significant Accounting Policies (Policies)
 6 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Fiscal Year

Fiscal Year

The Company uses a fiscal calendar year ending on June 30. All references herein to “fiscal 2026” represent the fiscal year ending June 30, 2026. All references herein to “fiscal 2025” represent the fiscal year ended June 30, 2025.
Principles of Consolidation

Principles of Consolidation

The unaudited condensed consolidated financial statements include the accounts of Extreme and its wholly owned subsidiaries. All inter-company accounts and transactions have been eliminated.

The Company predominantly uses the United States Dollar as its functional currency. The functional currency for certain of its foreign subsidiaries is the local currency. For those subsidiaries that operate in a local functional currency environment, all assets and liabilities are translated to United States Dollars at current month end rates of exchange and revenues, and expenses are translated using the monthly average rate.
Accounting Estimates

Accounting Estimates

The preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates.
Recently Adopted Accounting Pronouncements

Recently Adopted Accounting Pronouncements

There were no recently adopted accounting standards which would have a material effect on the Company's condensed consolidated financial statements and accompanying disclosures.

Recently Issued Accounting Pronouncements Not Yet Adopted

In December 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements. This ASU provides clarifications intended to improve the consistency and usability of interim disclosure requirements, including a comprehensive listing of required interim disclosures. The standard introduces a new disclosure principle for interim reporting to help entities determine whether disclosures not specified in Topic 270 should be provided in interim periods. ASU 2025-11 is effective for fiscal years beginning after December 15, 2027, and interim periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the impact of adopting ASU 2025-11 on its consolidated financial statements and related disclosures.

In November 2025, the FASB issued ASU 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements. This ASU amends certain aspects of existing guidance to more closely align hedge accounting with the economics of the Company’s risk management activities. ASU 2025-09 is effective for fiscal years beginning after December 15, 2026, and interim periods within those annual reporting periods and should be applied on a prospective basis. Early adoption is permitted. The Company is currently evaluating the impact of adopting ASU 2025-09 on its consolidated financial statements and related disclosures.

In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. This ASU removes all references to prescriptive and sequential software development stages and requires entities to begin capitalizing software costs when management authorizes and commits to funding the software project, and it is probable that the project will be completed, and the software will be used for its intended purpose. The amendments in this ASU are effective for fiscal years beginning after December 15, 2027, and interim periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the impact of adopting ASU 2025-06 on its consolidated financial statements and related disclosures.

In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets to address challenges encountered when applying the guidance in Topic 326, Financial Instruments—Credit Losses, to current accounts receivable and current contract assets arising from transactions accounted for under Topic 606, Revenue from Contracts with Customers. ASU 2025-05 is effective for fiscal years beginning after December 15, 2025, and interim periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the impact of adopting ASU 2025-05 on its consolidated financial statements and related disclosures.

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses to improve disclosures about public business entities’ expenses and to provide more detailed information around the types of expenses included in commonly presented expense captions. Additionally, in January 2025 the FASB issued ASU 2025-01 to clarify the effective date of ASU 2024-03. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods for fiscal years beginning after December 15, 2027, and can be applied on a prospective basis or on a retrospective basis to all periods presented. Early adoption is permitted. The Company is currently evaluating the impact of adopting ASU 2024-03 and ASU 2025-01 on its consolidated financial statements and related disclosures.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740), Improvements to Income Tax Disclosures to enhance income tax disclosures primarily through changes in the rate reconciliation and income taxes paid information. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024 on a prospective basis. The Company will be adopting ASU 2023-09 for fiscal year ended June 30, 2026.
Revenue Recognition

Revenue Recognition

Performance Obligations. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC 606. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. Certain of the Company’s contracts have multiple performance obligations, as the promise to transfer individual goods or services is separately identifiable from other promises in the contracts and, therefore, is distinct. For contracts with multiple performance obligations, the Company allocates the contract’s transaction price to each performance obligation based on its relative standalone selling price. The stand-alone selling prices are determined based on the prices at which the Company separately sells these products. For items that are not sold separately, the Company estimates the stand-alone selling prices using other observable inputs.

The Company’s performance obligations are satisfied at a point in time or over time as the customer receives and consumes the benefits provided. Substantially all of the Company’s product sales revenues are recognized at a point in time. Substantially all of the Company’s subscription and support revenues are recognized over time. For revenues recognized over time, the Company primarily uses an input measure, days elapsed, to measure progress.

As of December 31, 2025, the Company had $642.9 million of remaining performance obligations, which is primarily comprised of deferred SaaS subscription and deferred support revenues. The Company expects to recognize approximately 30% of its deferred revenue as revenue in the remainder of fiscal 2026, an additional 34% in fiscal 2027, and the remaining 36% of the balance thereafter.

Contract Balances. The timing of revenue recognition, billings and cash collections results in billed accounts receivable and deferred revenue in the condensed consolidated balance sheets. Services provided under renewable SaaS subscription and support arrangements of the Company are billed in accordance with agreed-upon contractual terms, which are either billed fully at the inception of contract or at periodic intervals (e.g., quarterly or annually). The Company generally receives payments from its customers in advance of services being provided, resulting in deferred revenues. These liabilities are reported on the condensed consolidated balance sheets on a contract-by-contract basis at the end of each reporting period.

Revenue recognized for the three months ended December 31, 2025 and 2024 that was included in the deferred revenue balance at the beginning of each period was $107.6 million and $101.3 million, respectively. Revenue recognized for the six months ended December 31, 2025 and 2024 that was included in the deferred revenue balance at the beginning of each period was $193.7 million and $183.3 million, respectively.

Contract Costs. The Company recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that the Company otherwise would have recognized is one year or less. Management expects that commission fees paid to sales representatives as a result of obtaining subscription and support contracts and contract renewals are recoverable and therefore the Company’s condensed consolidated balance sheets included capitalized balances in the amount of $29.4 million and $26.9 million as of December 31, 2025 and June 30, 2025, respectively. Capitalized commissions are included within other assets in the condensed consolidated balance sheets. Capitalized commission fees are amortized on a straight-line basis over the average period of service contracts of approximately three years, and are included in “Sales and marketing” in the accompanying condensed consolidated statements of operations. Amortization recognized during the three months ended December 31, 2025 and 2024 was $3.5 million and $3.1 million, respectively. Amortization recognized during the six months ended December 31, 2025 and 2024 was $6.9 million and $6.1 million, respectively.

Estimated Variable Consideration. There were no material changes in the current period to the estimated variable consideration for performance obligations, which were satisfied or partially satisfied during previous periods.

Revenues by Geography

The Company operates in three geographic regions: Americas, EMEA (Europe, Middle East and Africa) and APAC (Asia Pacific). The following table presents the Company’s net revenues disaggregated by geographic region (in thousands):

 

Three Months Ended

 

Six Months Ended

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2025

 

 

December 31, 2024

 

Americas:

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$

135,173

 

 

$

119,678

 

 

$

271,557

 

 

$

272,931

 

Other

 

 

13,218

 

 

 

11,710

 

 

 

26,093

 

 

 

23,892

 

Total Americas

 

 

148,391

 

 

 

131,388

 

 

 

297,650

 

 

 

296,823

 

EMEA

 

 

140,389

 

 

 

128,257

 

 

 

261,635

 

 

 

213,175

 

APAC

 

 

29,145

 

 

 

19,710

 

 

 

68,885

 

 

 

38,561

 

Total net revenues

 

$

317,925

 

 

$

279,355

 

 

$

628,170

 

 

$

548,559

 

Geographic Concentrations

For the three and six months ended December 31, 2025 the Company generated 15% and 13% of its net revenues from the Netherlands, respectively. For the three and six months ended December 31, 2024, the Company generated 15% and 11% of its net revenues from the Netherlands, respectively. No other foreign country accounted for 10% or more of the Company's net revenues for the three and six months ended December 31, 2025 and 2024.
Cash and Cash Equivalents

Cash and Cash Equivalents

The Company considers highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents.

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

 

 

December 31, 2025

 

 

June 30, 2025

 

Cash

 

$

213,605

 

 

$

225,656

 

Cash equivalents

 

 

6,186

 

 

 

6,089

 

Total cash and cash equivalents

 

$

219,791

 

 

$

231,745

 

 
Inventories

Inventories

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

 

 

December 31, 2025

 

 

June 30, 2025

 

Finished goods

 

$

49,022

 

 

$

57,770

 

Raw materials

 

 

34,571

 

 

 

44,808

 

Total inventories

 

$

83,593

 

 

$

102,578

 
Property and Equipment, Net

Property and Equipment, Net

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

 

 

December 31, 2025

 

 

June 30, 2025

 

Computers and equipment

 

$

85,566

 

 

$

80,782

 

Software

 

 

64,227

 

 

 

62,089

 

Office equipment, furniture and fixtures

 

 

8,137

 

 

 

8,031

 

Leasehold improvements

 

 

48,133

 

 

 

47,962

 

Total property and equipment

 

 

206,063

 

 

 

198,864

 

Less: accumulated depreciation and amortization

 

 

(155,835

)

 

 

(154,498

)

Property and equipment, net

 

$

50,228

 

 

$

44,366

 
Deferred Revenue

Deferred Revenue

Deferred revenue represents invoiced amounts for deferred subscription and support and other deferred revenue including professional services and training when the revenue recognition criteria have not been met.
Guarantees and Product Warranties

Guarantees and Product Warranties

The majority of the Company’s hardware products are shipped with either a one-year warranty or a limited lifetime warranty, and software products receive a 90-day warranty. Upon shipment of products to its customers, the Company estimates expenses for the cost to repair or replace products that may be returned under warranty and accrues a liability in cost of product revenues for this amount. The determination of the Company’s warranty requirements is based on actual historical experience with the product or product family, estimates of repair and replacement costs, and any product warranty problems that are identified after shipment. The Company estimates and adjusts these accruals at each balance sheet date in accordance with changes in these factors.

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

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2025

 

 

December 31, 2024

 

Balance at beginning of period

 

$

9,625

 

 

$

10,239

 

 

$

9,684

 

 

$

10,942

 

New warranties issued

 

 

2,767

 

 

 

3,045

 

 

 

5,792

 

 

 

5,531

 

Warranty expenditures

 

 

(2,764

)

 

 

(3,248

)

 

 

(5,848

)

 

 

(6,437

)

Balance at end of period

 

$

9,628

 

 

$

10,036

 

 

$

9,628

 

 

$

10,036

 

 

To facilitate sales of its products in the normal course of business, the Company indemnifies its resellers and end-user customers with respect to certain matters. The Company has agreed to hold the customer harmless against losses arising from intellectual property infringement or other claims made against certain parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. It is not possible to estimate the maximum potential amount under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made by the Company under these agreements have not had a material impact on its operating results or financial position.
Concentrations

Concentrations

The Company may be subject to concentration of credit risk as a result of certain financial instruments consisting of accounts receivable. See Note 3, Revenues, for the Company’s accounts receivable concentration. The Company does not invest an amount exceeding 10% of its combined cash in the securities of any one obligor or maker, except for obligations of the United States government, obligations of United States government agencies, and money market accounts.

Earnings Per Share

Basic net income (loss) per share is calculated by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is calculated by dividing net income (loss) by the weighted-average number of shares of common stock used in the basic net income (loss) per share calculation plus the dilutive effect of shares subject to repurchase, options and unvested RSUs.
v3.25.4
Revenues (Tables)
 6 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Revenues Disaggregated by Geographic Region The following table presents the Company’s net revenues disaggregated by geographic region (in thousands):

 

Three Months Ended

 

Six Months Ended

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2025

 

 

December 31, 2024

 

Americas:

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$

135,173

 

 

$

119,678

 

 

$

271,557

 

 

$

272,931

 

Other

 

 

13,218

 

 

 

11,710

 

 

 

26,093

 

 

 

23,892

 

Total Americas

 

 

148,391

 

 

 

131,388

 

 

 

297,650

 

 

 

296,823

 

EMEA

 

 

140,389

 

 

 

128,257

 

 

 

261,635

 

 

 

213,175

 

APAC

 

 

29,145

 

 

 

19,710

 

 

 

68,885

 

 

 

38,561

 

Total net revenues

 

$

317,925

 

 

$

279,355

 

 

$

628,170

 

 

$

548,559

 
Schedule of Customers Accounting for 10% or More of Net Revenues and Accounts Receivable Balance

The following table presents customers accounting for 10% or more of the Company’s net revenues for the periods indicated below:

 

 

Three Months Ended

 

Six Months Ended

 

 

December 31, 2025

 

December 31, 2024

 

December 31, 2025

 

December 31, 2024

Westcon Group, Inc.

 

22%

 

22%

 

19%

 

18%

TD Synnex Corporation

 

17%

 

17%

 

16%

 

19%

Jenne, Inc.

 

16%

 

15%

 

17%

 

18%

 

 

 

 

 

 

 

 

 

The following table presents major customers accounting for 10% or more of the Company’s net accounts receivable balance:

 

 

 

 

 

December 31, 2025

 

June 30, 2025

Jenne, Inc.

 

22%

 

22%

Westcon Group, Inc.

 

16%

 

*

TD Synnex Corporation

 

10%

 

*

Ericsson, Inc.

 

*

 

11%

 * Less than 10% of accounts receivable

 

 

 

 
v3.25.4
Balance Sheet Accounts (Tables)
 6 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Cash and Cash Equivalents

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

 

 

December 31, 2025

 

 

June 30, 2025

 

Cash

 

$

213,605

 

 

$

225,656

 

Cash equivalents

 

 

6,186

 

 

 

6,089

 

Total cash and cash equivalents

 

$

219,791

 

 

$

231,745

 

 
Components of Inventories

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

 

 

December 31, 2025

 

 

June 30, 2025

 

Finished goods

 

$

49,022

 

 

$

57,770

 

Raw materials

 

 

34,571

 

 

 

44,808

 

Total inventories

 

$

83,593

 

 

$

102,578

 
Components of Property and Equipment

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

 

 

December 31, 2025

 

 

June 30, 2025

 

Computers and equipment

 

$

85,566

 

 

$

80,782

 

Software

 

 

64,227

 

 

 

62,089

 

Office equipment, furniture and fixtures

 

 

8,137

 

 

 

8,031

 

Leasehold improvements

 

 

48,133

 

 

 

47,962

 

Total property and equipment

 

 

206,063

 

 

 

198,864

 

Less: accumulated depreciation and amortization

 

 

(155,835

)

 

 

(154,498

)

Property and equipment, net

 

$

50,228

 

 

$

44,366

 
Summary of Product Warranty Liability Activity

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

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2025

 

 

December 31, 2024

 

Balance at beginning of period

 

$

9,625

 

 

$

10,239

 

 

$

9,684

 

 

$

10,942

 

New warranties issued

 

 

2,767

 

 

 

3,045

 

 

 

5,792

 

 

 

5,531

 

Warranty expenditures

 

 

(2,764

)

 

 

(3,248

)

 

 

(5,848

)

 

 

(6,437

)

Balance at end of period

 

$

9,628

 

 

$

10,036

 

 

$

9,628

 

 

$

10,036

 
v3.25.4
Fair Value Measurements (Tables)
 6 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value for Financial Assets and Liabilities Measured on Recurring Basis

The following table presents the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis (in thousands):

December 31, 2025

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Certificates of deposit

 

$

—

 

 

$

6,186

 

 

$

—

 

 

$

6,186

 

Foreign currency derivatives not designated as hedging instruments

 

 

—

 

 

 

124

 

 

 

—

 

 

 

124

 

Total assets measured at fair value

 

$

—

 

 

$

6,310

 

 

$

—

 

 

$

6,310

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency derivatives not designated as hedging instruments

 

$

—

 

 

$

45

 

 

$

—

 

 

$

45

 

Foreign currency derivatives designated as hedging instruments

 

 

—

 

 

 

182

 

 

 

—

 

 

 

182

 

Total liabilities measured at fair value

 

$

—

 

 

$

227

 

 

$

—

 

 

$

227

 

 

June 30, 2025

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Certificates of deposit

 

$

—

 

 

$

6,089

 

 

$

—

 

 

$

6,089

 

Foreign currency derivatives not designated as hedging instruments

 

 

—

 

 

 

298

 

 

 

—

 

 

 

298

 

Total assets measured at fair value

 

$

—

 

 

$

6,387

 

 

$

—

 

 

$

6,387

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency derivatives not designated as hedging instruments

 

$

—

 

 

$

11

 

 

$

—

 

 

$

11

 

Total liabilities measured at fair value

 

$

—

 

 

$

11

 

 

$

—

 

 

$

11

 
v3.25.4
Intangible Assets and Goodwill (Tables)
 6 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Components of Gross and Net Intangible Asset Balances

Intangible Assets

The following tables summarize the components of gross and net intangible assets (in thousands, except years):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average
Remaining Amortization

 

Gross Carrying

 

 

Accumulated

 

 

Net Carrying

 

 

 

Period

 

Amount

 

 

Amortization

 

 

Amount

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

Developed technology

 

2.7 years

 

$

170,538

 

 

$

166,877

 

 

$

3,661

 

Customer relationships

 

0.6 years

 

 

66,630

 

 

 

65,681

 

 

 

949

 

Trade names

 

0.0 years

 

 

10,700

 

 

 

10,700

 

 

 

—

 

License agreements

 

1.0 years

 

 

1,282

 

 

 

1,210

 

 

 

72

 

Total intangible assets, net*

 

 

 

$

249,150

 

 

$

244,468

 

 

$

4,682

 

* The carrying amount of foreign intangible assets are affected by foreign currency translation.

 

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

 

 

 

Remaining Amortization

 

Gross Carrying

 

 

Accumulated

 

 

Net Carrying

 

 

 

Period

 

Amount

 

 

Amortization

 

 

Amount

 

June 30, 2025

 

 

 

 

 

 

 

 

 

 

 

Developed technology

 

3.0 years

 

$

170,480

 

 

$

165,908

 

 

$

4,572

 

Customer relationships

 

1.0 years

 

 

64,824

 

 

 

62,961

 

 

 

1,863

 

Trade names

 

0.0 years

 

 

10,700

 

 

 

10,700

 

 

 

—

 

License agreements

 

1.4 years

 

 

1,282

 

 

 

1,176

 

 

 

106

 

Total intangible assets, net*

 

 

$

247,286

 

 

$

240,745

 

 

$

6,541

 

* The carrying amount of foreign intangible assets are affected by foreign currency translation.

 

 

 

 

 
Summary of Amortization Expense of Intangible Assets

The following table summarizes the amortization expense of intangible assets for the periods presented (in thousands):

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2025

 

 

December 31, 2024

 

 

Amortization of intangible assets in “Total cost of revenues”

 

$

352

 

 

$

606

 

 

$

963

 

 

$

1,230

 

 

Amortization of intangible assets in “Total operating expenses”

 

 

407

 

 

 

509

 

 

 

907

 

 

 

1,021

 

 

Total amortization expense

 

$

759

 

 

$

1,115

 

 

$

1,870

 

 

$

2,251

 

 
Schedule of Expected Amortization Expenses

The estimated future amortization expense to be recorded for each of the respective future fiscal years is as follows (in thousands):

 

 

Amount

 

For the fiscal year ending June 30:

 

 

 

2026 (the remainder of fiscal 2026)

 

$

1,524

 

2027

 

 

1,524

 

2028

 

 

1,353

 

2029

 

 

281

 

Total

 

$

4,682

 
v3.25.4
Debt (Tables)
 6 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Components of Debt

The Company’s debt is comprised of the following (in thousands):

 

 

December 31, 2025

 

 

June 30, 2025

 

Current portion of long-term debt:

 

 

 

 

 

 

Term loan

 

$

17,500

 

 

$

15,000

 

Less: unamortized debt issuance costs

 

 

(698

)

 

 

(729

)

Current portion of long-term debt

 

$

16,802

 

 

$

14,271

 

 

 

 

 

 

 

 

Long-term debt, less current portion:

 

 

 

 

 

 

Term loan

 

$

155,000

 

 

$

165,000

 

Less: unamortized debt issuance costs

 

 

(937

)

 

 

(1,276

)

Total long-term debt, less current portion

 

 

154,063

 

 

 

163,724

 

Total debt

 

$

170,865

 

 

$

177,995

 
v3.25.4
Employee Benefit Plans (Tables)
 6 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Common Stock Reserved for Future Issuance

The Company had the following reserved shares of common stock for future issuance as of the dates noted (in thousands):

 

 

December 31, 2025

 

 

June 30, 2025

 

2013 Equity Incentive Plan shares available for grant

 

 

13,153

 

 

 

10,935

 

Employee stock options and awards outstanding

 

 

8,509

 

 

 

7,566

 

2014 Employee Stock Purchase Plan

 

 

5,418

 

 

 

5,952

 

Total shares reserved for issuance

 

 

27,080

 

 

 

24,453

 
Schedule of Recognized Share-based Compensation Expense

Share-based compensation expense recognized in the condensed consolidated financial statements by line-item caption is as follows (in thousands):

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2025

 

 

December 31, 2024

 

Cost of product revenues

 

$

796

 

 

$

680

 

 

$

1,548

 

 

$

1,298

 

Cost of subscription and support revenues

 

 

759

 

 

 

798

 

 

 

1,486

 

 

 

1,487

 

Research and development

 

 

4,639

 

 

 

4,467

 

 

 

9,086

 

 

 

8,680

 

Sales and marketing

 

 

8,009

 

 

 

7,596

 

 

 

15,522

 

 

 

14,478

 

General and administrative

 

 

8,696

 

 

 

7,911

 

 

 

17,037

 

 

 

15,276

 

Total share-based compensation expense

 

$

22,899

 

 

$

21,452

 

 

$

44,679

 

 

$

41,219

 
Summary of Stock Option Activity

The following table summarizes stock option activity for the six months ended December 31, 2025 (in thousands, except per share amount and contractual term):

 

 

Number of Shares

 

 

Weighted-Average Exercise Price Per Share

 

 

Weighted-Average Remaining Contractual Term (years)

 

 

Aggregate Intrinsic Value

 

Options outstanding at June 30, 2025

 

 

496

 

 

$

6.70

 

 

 

1.16

 

 

$

5,580

 

Granted

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Exercised

 

 

(121

)

 

 

—

 

 

 

 

 

 

 

Canceled

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Options outstanding at December 31, 2025

 

 

375

 

 

$

6.70

 

 

 

0.66

 

 

$

3,727

 

Vested and expected to vest at December 31, 2025

 

 

375

 

 

$

6.70

 

 

 

0.66

 

 

$

3,727

 

Exercisable at December 31, 2025

 

 

375

 

 

$

6.70

 

 

 

0.66

 

 

$

3,727

 
Summary of Stock Award Activity

The following table summarizes stock award activity for the six months ended December 31, 2025 (in thousands, except grant date fair value):

 

 

Number of Shares

 

 

Weighted- Average Grant Date Fair Value

 

 

Aggregate Fair Value

 

Non-vested stock awards outstanding at June 30, 2025

 

 

7,070

 

 

$

19.53

 

 

 

 

Granted

 

 

4,351

 

 

 

20.87

 

 

 

 

Released

 

 

(3,185

)

 

 

18.86

 

 

 

Canceled

 

 

(102

)

 

 

19.84

 

 

 

 

Non-vested stock awards outstanding at December 31, 2025

 

 

8,134

 

 

$

20.57

 

 

 

 

Stock awards expected to vest at December 31, 2025

 

 

8,134

 

 

$

20.57

 

 

$

167,311

 
Schedule of Fair Value Assumptions for Employee Stock Purchase Plan Awards The following assumptions used to determine the grant-date fair values of the MSU during the following periods:

 

 

Equity Incentive Plan

 

 

 

 

Six Months Ended

 

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

Expected term

 

3.0 years

 

 

3.0 years

 

 

Risk-free interest rate

 

 

3.70

%

 

 

3.86

%

 

Volatility

 

 

45

%

 

 

48

%

 

Dividend yield

 

 

—

%

 

 

—

%

 
The following assumptions were used to determine the grant-date fair values of the ESPP shares during the following periods:

 

 

Employee Stock Purchase Plan

 

 

 

 

Six Months Ended

 

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

Expected term

 

0.5 years

 

 

0.5 years

 

 

Risk-free interest rate

 

 

4.12

%

 

 

5.04

%

 

Volatility

 

 

50

%

 

 

36

%

 

Dividend yield

 

 

—

%

 

 

—

%

 
v3.25.4
Information about Segments and Geographic Areas (Tables)
 6 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule Of Reconciliation Of Consolidated Gaap Net Income (Loss) To Consolidated Non-Gaap Net Income

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

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2025

 

 

December 31, 2024

 

GAAP net income (loss)

 

$

7,876

 

 

$

7,382

 

 

$

13,487

 

 

$

(3,122

)

Adjustments:

 

 

 

 

 

 

 

 

 

 

 

 

Share-based compensation expense

 

 

22,899

 

 

 

21,452

 

 

 

44,679

 

 

 

41,219

 

Restructuring and related charges

 

 

167

 

 

 

1,035

 

 

 

538

 

 

 

2,312

 

Litigation charges(1)

 

 

822

 

 

 

877

 

 

 

2,759

 

 

 

11,593

 

System transition costs(2)

 

 

6,467

 

 

 

4,026

 

 

 

11,392

 

 

 

9,371

 

Other non-recurring costs(3)

 

 

3,648

 

 

 

—

 

 

 

3,648

 

 

 

—

 

Amortization of intangibles

 

 

741

 

 

 

1,098

 

 

 

1,834

 

 

 

2,216

 

Debt refinancing charges

 

 

—

 

 

 

—

 

 

 

—

 

 

 

79

 

Tax effect of non-GAAP adjustments

 

 

(7,895

)

 

 

(7,297

)

 

 

(13,468

)

 

 

(12,695

)

Total adjustments to GAAP net income (loss)

 

$

26,849

 

 

$

21,191

 

 

$

51,382

 

 

$

54,095

 

Non-GAAP net income

 

$

34,725

 

 

$

28,573

 

 

$

64,869

 

 

$

50,973

 

(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.

(2)System transition costs consist of costs related to direct and incremental costs incurred in connection with our multi-phase transition of our customer relationship management solution, our configure, price, quote solution and our enterprise resource planning tools that were not capitalizable.

(3)Other non-recurring costs consist of certain external advisory and professional fees incurred for various non-recurring transactions and activities that occur outside of the normal course of business.
Schedule of Long Lived Assets by Segment

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

 

 

 

 

 

 

December 31, 2025

 

 

June 30, 2025

 

Segment long-lived assets:

 

 

 

 

 

 

Americas

 

$

185,144

 

 

$

167,499

 

EMEA

 

 

38,686

 

 

 

40,299

 

APAC

 

 

9,258

 

 

 

10,550

 

Total segment long-lived assets

 

$

233,088

 

 

$

218,348

 
v3.25.4
Restructuring and Related Charges (Tables)
 6 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Summary the activity related to the company's restructuring and related liabilities

The following table summarizes the activity related to the Company’s restructuring and related liabilities during the following periods (in thousands):

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2025

 

 

December 31, 2024

 

Balance at beginning of period

 

$

618

 

 

$

4,393

 

 

$

693

 

 

$

11,469

 

Period charges

 

 

—

 

 

 

1,134

 

 

 

437

 

 

 

2,707

 

Period reversals

 

 

(114

)

 

 

(97

)

 

 

(180

)

 

 

(393

)

Period payments

 

 

(436

)

 

 

(2,032

)

 

 

(882

)

 

 

(10,385

)

Balance at end of period

 

$

68

 

 

$

3,398

 

 

$

68

 

 

$

3,398

 
v3.25.4
Net Income (Loss) Per Share (Tables)
 6 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted

The following table presents the calculation of net income (loss) per share of basic and diluted (in thousands, except per share data):

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2025

 

 

December 31, 2024

 

Net income (loss)

 

$

7,876

 

 

$

7,382

 

 

$

13,487

 

 

$

(3,122

)

Weighted-average shares used in per share calculation – basic

 

 

133,914

 

 

 

132,381

 

 

 

133,443

 

 

 

131,778

 

Options to purchase common stock

 

 

258

 

 

 

551

 

 

 

274

 

 

 

—

 

Restricted stock units

 

 

915

 

 

 

1,100

 

 

 

1,556

 

 

 

—

 

Employee Stock Purchase Plan shares

 

 

79

 

 

 

75

 

 

 

106

 

 

 

—

 

Weighted-average shares used in per share calculation – diluted

 

 

135,166

 

 

 

134,107

 

 

 

135,379

 

 

 

131,778

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share – basic and diluted

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share – basic

 

$

0.06

 

 

$

0.06

 

 

$

0.10

 

 

$

(0.02

)

Net income (loss) per share – diluted

 

$

0.06

 

 

$

0.06

 

 

$

0.10

 

 

$

(0.02

)
Schedule of Antidilutive Securities Excluded from Earnings Per Share Calculation

The following securities were excluded from the computation of net income (loss) per diluted share of common stock for the periods presented as their effect would have been anti-dilutive (in thousands):

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2025

 

 

December 31, 2024

 

Options to purchase common stock

 

 

—

 

 

 

—

 

 

 

—

 

 

 

997

 

Restricted stock units

 

 

537

 

 

 

1,295

 

 

 

554

 

 

 

5,638

 

Employee Stock Purchase Plan shares

 

 

620

 

 

 

695

 

 

 

452

 

 

 

545

 

Total shares excluded

 

 

1,157

 

 

 

1,990

 

 

 

1,006

 

 

 

7,180

 
v3.25.4
Revenues (Narratives) (Details)
$ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2025
USD ($)
Distribution_Channels
Dec. 31, 2024
USD ($)
Jun. 30, 2025
USD ($)
Disaggregation Of Revenue [Line Items]          
Number of distribution channels | Distribution_Channels     2    
Estimated selling price determination approach     Certain of the Company’s contracts have multiple performance obligations, as the promise to transfer individual goods or services is separately identifiable from other promises in the contracts and, therefore, is distinct. For contracts with multiple performance obligations, the Company allocates the contract’s transaction price to each performance obligation based on its relative standalone selling price. The stand-alone selling prices are determined based on the prices at which the Company separately sells these products. For items that are not sold separately, the Company estimates the stand-alone selling prices using other observable inputs.    
Remaining revenue performance obligations $ 642.9   $ 642.9    
Revenue recognized for deferred revenue balance $ 107.6 $ 101.3 $ 193.7 $ 183.3  
Geographic Concentration Risk | Revenue | NETHERLANDS          
Disaggregation Of Revenue [Line Items]          
Concentration risk (percent) 15.00% 15.00% 13.00% 11.00%  
Geographic Concentration Risk | Revenue | Other Foreign Country | Maximum          
Disaggregation Of Revenue [Line Items]          
Concentration risk (percent) 10.00% 10.00% 10.00% 10.00%  
Commission Fees          
Disaggregation Of Revenue [Line Items]          
Revenue, practical expedient, incremental cost of obtaining contract [true false]     true    
Contract costs capitalized, balances amount $ 29.4   $ 29.4   $ 26.9
Contract costs capitalized, amortization period 3 years   3 years    
Contract costs capitalized, amortization method     straight-line basis    
Contract costs capitalized, amortization expense $ 3.5 $ 3.1 $ 6.9 $ 6.1  
v3.25.4
Revenues (Narratives) (Details 1)
 6 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2026-01-01    
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]    
Percentage of remaining performance obligations expected to recognize, period 6 months  
Percentage of remaining performance obligations expected to recognize 30.00%  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2026-07-01    
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]    
Percentage of remaining performance obligations expected to recognize, period 1 year  
Percentage of remaining performance obligations expected to recognize 34.00%  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2027-07-01    
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]    
Percentage of remaining performance obligations expected to recognize, period  
Percentage of remaining performance obligations expected to recognize, description thereafter  
Percentage of remaining performance obligations expected to recognize 36.00%  
v3.25.4
Revenues (Schedule of Revenues Disaggregated by Geographic Region) (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Disaggregation Of Revenue [Line Items]        
Net Revenues $ 317,925 $ 279,355 $ 628,170 $ 548,559
United States        
Disaggregation Of Revenue [Line Items]        
Net Revenues 135,173 119,678 271,557 272,931
Other Americas        
Disaggregation Of Revenue [Line Items]        
Net Revenues 13,218 11,710 26,093 23,892
Total Americas        
Disaggregation Of Revenue [Line Items]        
Net Revenues 148,391 131,388 297,650 296,823
EMEA        
Disaggregation Of Revenue [Line Items]        
Net Revenues 140,389 128,257 261,635 213,175
APAC        
Disaggregation Of Revenue [Line Items]        
Net Revenues $ 29,145 $ 19,710 $ 68,885 $ 38,561
v3.25.4
Revenues (Schedule of Customers Accounting for 10% or More of Net Revenues and Accounts Receivable Balance) (Details) - Customer Concentration Risk
 3 Months Ended 6 Months Ended 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Jun. 30, 2025
Jenne, Inc. | Revenue          
Concentration Risk [Line Items]          
Concentration risk (percent) 16.00% 15.00% 17.00% 18.00%  
Jenne, Inc. | Accounts Receivable          
Concentration Risk [Line Items]          
Concentration risk (percent)     22.00%   22.00%
TD Synnex Corporation | Revenue          
Concentration Risk [Line Items]          
Concentration risk (percent) 17.00% 17.00% 16.00% 19.00%  
TD Synnex Corporation | Accounts Receivable          
Concentration Risk [Line Items]          
Concentration risk (percent)     10.00%    
Westcon Group Inc. | Revenue          
Concentration Risk [Line Items]          
Concentration risk (percent) 22.00% 22.00% 19.00% 18.00%  
Westcon Group Inc. | Accounts Receivable          
Concentration Risk [Line Items]          
Concentration risk (percent)     16.00%    
Ericsson, Inc. | Accounts Receivable          
Concentration Risk [Line Items]          
Concentration risk (percent)         11.00%
v3.25.4
Balance Sheet Accounts (Summary of Cash and Cash Equivalents) (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Cash $ 213,605 $ 225,656
Cash equivalents 6,186 6,089
Total cash and cash equivalents $ 219,791 $ 231,745
v3.25.4
Balance Sheet Accounts (Components of Inventories) (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Finished goods $ 49,022 $ 57,770
Raw materials 34,571 44,808
Total inventories $ 83,593 $ 102,578
v3.25.4
Balance Sheet Accounts (Components of Property and Equipment) (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 206,063 $ 198,864
Less: accumulated depreciation and amortization (155,835) (154,498)
Property and equipment, net 50,228 44,366
Computers and equipment    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 85,566 80,782
Software    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 64,227 62,089
Office equipment, furniture and fixtures    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 8,137 8,031
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 48,133 $ 47,962
v3.25.4
Balance Sheet Accounts (Narratives) (Details)
 6 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Standard hardware warranty period (in months) 1 year
Standard software warranty period (in days) 90 days
Maximum investment in one obligor or maker (percent) 10.00%
v3.25.4
Balance Sheet Accounts (Summary of Product Warranty Liability Activity) (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Movement in Standard Product Warranty Accrual [Roll Forward]        
Balance at beginning of period $ 9,625 $ 10,239 $ 9,684 $ 10,942
New warranties issued 2,767 3,045 5,792 5,531
Warranty expenditures (2,764) (3,248) (5,848) (6,437)
Balance at end of period $ 9,628 $ 10,036 $ 9,628 $ 10,036
v3.25.4
Fair Value Measurements (Schedule of Fair Value for Financial Assets and Liabilities Measured on Recurring Basis) (Details) - Recurring - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Assets    
Certificate of deposits $ 6,186 $ 6,089
Foreign currency derivatives not designated as hedging instruments 124 298
Total assets measured at fair value 6,310 6,387
Liabilities    
Foreign currency derivatives not designated as hedging instruments 45 11
Foreign currency derivatives designated as hedging instruments 182  
Total liabilities measured at fair value 227 11
Level 2    
Assets    
Certificate of deposits 6,186 6,089
Foreign currency derivatives not designated as hedging instruments 124 298
Total assets measured at fair value 6,310 6,387
Liabilities    
Foreign currency derivatives not designated as hedging instruments 45 11
Foreign currency derivatives designated as hedging instruments 182  
Total liabilities measured at fair value $ 227 $ 11
v3.25.4
Fair Value Measurements (Narratives) (Details) - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Jun. 30, 2025
Assets/Liabilities          
Transfers of assets between Level 1 and Level 2 $ 0 $ 0 $ 0 $ 0  
Transfers of liabilities between Level 1 and Level 2 0 0 0 0  
Transfers of assets between Level 2 and Level 3 0 0 0 0  
Transfers of liabilities between Level 2 and Level 3 0 0 0 0  
Not Designated as Hedging Instrument | Forward Foreign Currency Contracts          
Assets/Liabilities          
Notional principal amount of contracts 68,400,000   68,400,000   $ 57,200,000
Gains (losses) on foreign currency derivative instruments (400,000) (2,100,000) (1,800,000) (1,300,000)  
Designated as Hedging Instrument | Zero-Cost Collar Contracts          
Assets/Liabilities          
Notional principal amount of contracts 55,100,000   55,100,000   0
Unrealized gain (loss) on derivatives (200,000)   (200,000)    
Level 2 Assets and Liabilities          
Assets/Liabilities          
Long-term debt, fair value 172,500,000   172,500,000   180,000,000
Level 3 Assets and Liabilities          
Assets/Liabilities          
Fair value, measurement level 3 assets, transfers     0   0
Fair value, measurement level 3 liabilities transfers     0   0
Fair value assets impairment 0 $ 0 0 $ 0  
Recurring          
Assets/Liabilities          
Certificate of deposits 6,186,000   6,186,000   6,089,000
Recurring | Level 2 Assets and Liabilities          
Assets/Liabilities          
Certificate of deposits $ 6,186,000   $ 6,186,000   $ 6,089,000
v3.25.4
Intangible Assets and Goodwill (Components of Gross and Net Intangible Asset Balances) (Details) - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Dec. 31, 2025
Jun. 30, 2025
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 249,150 $ 247,286
Accumulated Amortization 244,468 240,745
Net Carrying Amount $ 4,682 $ 6,541
Developed Technology    
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]    
Weighted Average Remaining Amortization Period 2 years 8 months 12 days 3 years
Gross Carrying Amount $ 170,538 $ 170,480
Accumulated Amortization 166,877 165,908
Net Carrying Amount $ 3,661 $ 4,572
Customer Relationships    
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]    
Weighted Average Remaining Amortization Period 7 months 6 days 1 year
Gross Carrying Amount $ 66,630 $ 64,824
Accumulated Amortization 65,681 62,961
Net Carrying Amount $ 949 $ 1,863
Trade Names    
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]    
Weighted Average Remaining Amortization Period 0 years 0 years
Gross Carrying Amount $ 10,700 $ 10,700
Accumulated Amortization 10,700 10,700
Net Carrying Amount $ 0 $ 0
License Agreements    
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]    
Weighted Average Remaining Amortization Period 1 year 1 year 4 months 24 days
Gross Carrying Amount $ 1,282 $ 1,282
Accumulated Amortization 1,210 1,176
Net Carrying Amount $ 72 $ 106
v3.25.4
Intangible Assets and Goodwill (Summary of Amortization Expense of Intangible Assets) (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]        
Amortization of intangible assets in "Total cost of revenues" $ 352 $ 606 $ 963 $ 1,230
Type Of Cost Good Or Service Extensible List Product Product Product Product
Amortization of intangible assets in "Total operating expenses" $ 407 $ 509 $ 907 $ 1,021
Total amortization expense $ 759 $ 1,115 $ 1,870 $ 2,251
v3.25.4
Intangible Assets and Goodwill (Schedule Future Amortization for Finite-Lived Intangible Assets) (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
For the fiscal year ending June 30:    
2026 (the remainder of fiscal 2026) $ 1,524  
2027 1,524  
2028 1,353  
2029 281  
Net Carrying Amount $ 4,682 $ 6,541
v3.25.4
Intangible Assets and Goodwill (Narratives) (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]    
Goodwill $ 399,850 $ 399,574
v3.25.4
Debt (Components of Debt) (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Line Of Credit Facility [Line Items]    
Less: unamortized debt issuance costs $ (698) $ (729)
Current portion of long-term debt 16,802 14,271
Less: unamortized debt issuance costs (937) (1,276)
Long-term debt, less current portion 154,063 163,724
Total debt 170,865 177,995
Term Loan    
Line Of Credit Facility [Line Items]    
Current portion of long-term debt 17,500 15,000
Long-term debt, less current portion $ 155,000 $ 165,000
v3.25.4
Debt (Narratives) (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 22, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Line Of Credit Facility [Line Items]          
Payments of lines of credit       $ 25,000,000  
Borrowings under revolving facility       25,000,000  
Outstanding letters of credit   $ 14,200,000   $ 14,200,000  
Credit Agreement | Applicable Margin for SOFR          
Line Of Credit Facility [Line Items]          
Debt instrument, subject to floor 0.00%        
Debt instrument, spread adjustment 0.10%        
Credit Agreement | Term Loan          
Line Of Credit Facility [Line Items]          
Borrowing capacity from Credit Agreement $ 200,000,000        
Credit Agreement | Revolving Facility          
Line Of Credit Facility [Line Items]          
Credit Facility, term 5 years        
Borrowing capacity from Credit Agreement $ 150,000,000        
Amended Credit Agreement          
Line Of Credit Facility [Line Items]          
Debt instrument interest rate       5.92% 6.84%
Amended Credit Agreement | Interest Expense          
Line Of Credit Facility [Line Items]          
Amortization of deferred financing costs   300,000 $ 300,000 $ 600,000 $ 600,000
Amended Credit Agreement | Term Loan          
Line Of Credit Facility [Line Items]          
Payments of lines of credit   0 $ 0 0 $ 0
Amended Credit Agreement | Revolving Facility          
Line Of Credit Facility [Line Items]          
Borrowing capacity from Credit Agreement   135,800,000   135,800,000  
Outstanding letters of credit   $ 0   $ 0  
Maximum | Credit Agreement          
Line Of Credit Facility [Line Items]          
Additional incremental loan facility $ 100,000,000        
Maximum | Credit Agreement | Applicable Margin for Base Rate          
Line Of Credit Facility [Line Items]          
Borrowings, interest rate 1.75%        
Maximum | Credit Agreement | Applicable Margin for SOFR          
Line Of Credit Facility [Line Items]          
Borrowings, interest rate 2.75%        
Minimum | Credit Agreement | Applicable Margin for Base Rate          
Line Of Credit Facility [Line Items]          
Borrowings, interest rate 1.00%        
Minimum | Credit Agreement | Applicable Margin for SOFR          
Line Of Credit Facility [Line Items]          
Borrowings, interest rate 2.00%        
v3.25.4
Commitments and Contingencies (Narratives) (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Non-Cancelable Inventory  
Commitments And Contingencies [Line Items]  
Non-cancelable purchase commitments $ 52.2
v3.25.4
Stockholders' Equity (Narratives) (Details) - USD ($)
 3 Months Ended 6 Months Ended
Sep. 14, 2025
Feb. 18, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Class Of Stock [Line Items]            
Total number of shares repurchased     0 0 577,281,000 0
Stock repurchased during period, value         $ 12,000,000  
Stock repurchased average price per share         $ 20.79  
Excise tax on stock repurchases     1.00%   1.00%  
2025 Repurchase Program            
Class Of Stock [Line Items]            
Stock repurchase, extended period   3 years        
Stock repurchase, extended period, effective date   Jul. 01, 2025        
Share repurchased outstanding amount     $ 188,000,000   $ 188,000,000  
2025 Repurchase Program | Maximum            
Class Of Stock [Line Items]            
Stock repurchase, authorized amount   $ 200,000,000        
2013 Equity Incentive Plan            
Class Of Stock [Line Items]            
Additional shares authorized under the equity incentive plan 6,800,000          
v3.25.4
Employee Benefit Plans (Shares Reserved for Issuance) (Details) - shares
shares in Thousands
Dec. 31, 2025
Jun. 30, 2025
Class Of Stock [Line Items]    
Shares reserved for issuance 27,080 24,453
2013 Equity Incentive Plan Shares Available for Grant    
Class Of Stock [Line Items]    
Shares reserved for issuance 13,153 10,935
Employee Stock Options and Awards Outstanding    
Class Of Stock [Line Items]    
Shares reserved for issuance 8,509 7,566
2014 Employee Stock Purchase Plan    
Class Of Stock [Line Items]    
Shares reserved for issuance 5,418 5,952
v3.25.4
Employee Benefit Plans (Schedule of Recognized Share-based Compensation Expense) (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]        
Share-based compensation expense $ 22,899 $ 21,452 $ 44,679 $ 41,219
Cost of Product Revenue        
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]        
Share-based compensation expense 796 680 1,548 1,298
Cost of Subscription And Support Revenues        
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]        
Share-based compensation expense 759 798 1,486 1,487
Research and Development        
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]        
Share-based compensation expense 4,639 4,467 9,086 8,680
Sales and Marketing        
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]        
Share-based compensation expense 8,009 7,596 15,522 14,478
General and Administrative        
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]        
Share-based compensation expense $ 8,696 $ 7,911 $ 17,037 $ 15,276
v3.25.4
Employee Benefit Plans (Summary of Stock Option Activity) (Details)
$ / shares in Units, shares in Thousands, $ in Thousands
 6 Months Ended 12 Months Ended
Dec. 31, 2025
USD ($)
$ / shares
shares
Jun. 30, 2025
USD ($)
$ / shares
shares
Number of Shares    
Options outstanding at June 30, 2025 | shares 496  
Granted | shares 0  
Exercised | shares (121)  
Canceled | shares 0  
Options outstanding at December 31, 2025 | shares 375 496
Vested and expected to vest at December 31, 2025 | shares 375  
Exercisable at December 31, 2025 | shares 375  
Weighted-Average Exercise Price Per Share    
Options outstanding at June 30, 2025 | $ / shares $ 6.7  
Granted | $ / shares 0  
Exercised | $ / shares 0  
Canceled | $ / shares 0  
Options outstanding at December 31, 2025 | $ / shares 6.7 $ 6.7
Vested and expected to vest at December 31, 2025 | $ / shares 6.7  
Exercisable at December 31, 2025 | $ / shares $ 6.7  
Weighted-Average Remaining Contractual Term    
Options outstanding 7 months 28 days 1 year 1 month 28 days
Vested and expected to vest at December 31, 2025 7 months 28 days  
Exercisable at December 31, 2025 7 months 28 days  
Aggregate Intrinsic Value    
Options outstanding | $ $ 3,727 $ 5,580
Vested and expected to vest at December 31, 2025 | $ 3,727  
Exercisable at December 31, 2025 | $ $ 3,727  
v3.25.4
Employee Benefit Plans (Narratives) (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Granted     0  
Granted     4,351,000  
Granted     $ 20.87  
Restricted Stock Units (RSUs)        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Share-based compensation arrangement by share-based payment award, award vesting percentage     The RSUs granted under the 2013 Plan vest over a period of time, generally one to three years, and are subject to participant's continued service to the Company.  
Total unrecognized compensation cost for awards other than options $ 119.8   $ 119.8  
Recognition period for compensation cost not yet recognized (in years, months, and days)     1 year 9 months 18 days  
MSU Subject to Total Shareholder Return (TSR)        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Granted     $ 22.23 $ 17.22
Executive Officer Member | Restricted Stock Units (RSUs)        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Granted     800,000  
Executive Officer Member | MSU        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Shares vested, Maximum     150.00%  
2013 Equity Incentive Plan        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Granted 0 0 0 0
2014 Employee Stock Purchase Plan        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Shares issued under stock purchase plan     500,000 500,000
Weighted-average grant-date fair value of options issued (in dollars per share)     $ 5.83 $ 3.74
v3.25.4
Employee Benefit Plans (Summary of Stock Award Activity) (Details)
$ / shares in Units, shares in Thousands, $ in Thousands
 6 Months Ended
Dec. 31, 2025
USD ($)
$ / shares
shares
Number of Shares  
Non-vested stock awards outstanding at June 30, 2025 | shares 7,070
Granted | shares 4,351
Released | shares (3,185)
Canceled | shares (102)
Non-vested stock awards outstanding at December 31, 2025 | shares 8,134
Stock awards expected to vest at December 31, 2025 | shares 8,134
Weighted-Average Grant Date Fair Value  
Non-vested stock awards outstanding at June 30, 2025 | $ / shares $ 19.53
Granted | $ / shares 20.87
Released | $ / shares 18.86
Canceled | $ / shares 19.84
Non-vested stock awards outstanding at December 31, 2025 | $ / shares 20.57
Stock awards expected to vest at December 31, 2025 | $ / shares $ 20.57
Aggregate Fair Market Value  
Stock awards expected to vest at December 31, 2025 | $ $ 167,311
v3.25.4
Employee Benefit Plans (Schedule of Fair Value Assumptions for Employee Stock Purchase Plan Awards) (Details)
 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
MSU    
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]    
Expected term 3 years 3 years
Risk-free interest rate 3.70% 3.86%
Volatility 45.00% 48.00%
Dividend yield 0.00% 0.00%
Employee Stock Purchase Plan    
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]    
Expected term 6 months 6 months
Risk-free interest rate 4.12% 5.04%
Volatility 50.00% 36.00%
Dividend yield 0.00% 0.00%
v3.25.4
Information about Segments and Geographic Areas (Narratives) (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2025
USD ($)
Segment
Geographic_Area
Dec. 31, 2024
USD ($)
Segment Reporting [Abstract]        
Number of operating segments | Segment     1  
Number of geographic regions | Geographic_Area     3  
Segment Reporting, CODM, Profit (Loss) Measure, How Used, Description     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 decide where to allocate and invest additional resources within the business. Consolidated non-GAAP net income is also used in the Company's annual budgeting and forecasting processes to establish goals and compare actual results against both budgeted targets and historical performance.  
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]     srt:ChiefExecutiveOfficerMember  
Depreciation expense recognized related to property and equipment $ 3,900 $ 3,800 $ 7,700 $ 7,700
Total expenditures for additions to property, plant and equipment $ 7,100 $ 5,400 $ 13,922 $ 12,325
v3.25.4
Information about Segments and Geographic Areas - Schedule of Reconciliation of Consolidated Gaap Net Income (Loss) to Consolidated Non-gaap Net Income (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Segment Reporting [Abstract]        
Net income (loss) $ 7,876 $ 7,382 $ 13,487 $ (3,122)
Adjustments:        
Share-based compensation 22,899 21,452 44,679 41,219
Restructuring and related charges 167 1,035 538 2,312
Litigation charges [1] 822 877 2,759 11,593
System transition costs [2] 6,467 4,026 11,392 9,371
Other non-recurring costs [3] 3,648   3,648  
Amortization of Intangibles Adjustments 741 1,098 1,834 2,216
Debt refinancing charges       79
Tax effect of non-GAAP adjustments (7,895) (7,297) (13,468) (12,695)
Total adjustments to GAAP net income (loss) 26,849 21,191 51,382 54,095
Non-GAAP net income $ 34,725 $ 28,573 $ 64,869 $ 50,973
[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.
[2] System transition costs consist of costs related to direct and incremental costs incurred in connection with our multi-phase transition of our customer relationship management solution, our configure, price, quote solution and our enterprise resource planning tools that were not capitalizable.
[3] Other non-recurring costs consist of certain external advisory and professional fees incurred for various non-recurring transactions and activities that occur outside of the normal course of business.
v3.25.4
Information about Segments and Geographic Areas (Schedule of Long Lived Assets by Segment) (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total segment long-lived assets $ 233,088 $ 218,348
Americas    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total segment long-lived assets 185,144 167,499
EMEA    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total segment long-lived assets 38,686 40,299
APAC    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total segment long-lived assets $ 9,258 $ 10,550
v3.25.4
Derivatives and Hedging (Narratives) (Details) - USD ($)
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Jun. 30, 2025
Derivative [Line Items]          
Foreign currency transactions realized gains (losses)   $ 2,800,000 $ 1,000,000 $ 1,400,000  
Maximum          
Derivative [Line Items]          
Foreign currency transactions realized gains (losses) $ (100,000)        
Forward Foreign Currency Contracts | Not Designated as Hedging Instrument          
Derivative [Line Items]          
Notional principal amount of forward foreign exchange contracts 68,400,000   68,400,000   $ 57,200,000
Net gains (losses) on forward foreign currency contracts (400,000) $ (2,100,000) (1,800,000) $ (1,300,000)  
Zero-Cost Collar Contracts | Designated as Hedging Instrument          
Derivative [Line Items]          
Notional principal amount of forward foreign exchange contracts 55,100,000   55,100,000   $ 0
Unrealized gain (loss) on derivatives (200,000)   (200,000)    
Zero-Cost Collar Contracts | Designated as Hedging Instrument | Maximum          
Derivative [Line Items]          
Realized gain (loss) on derivatives $ (100,000)   $ (100,000)    
v3.25.4
Restructuring and Related Charges (Narratives) (Details) - USD ($)
 3 Months Ended 6 Months Ended 24 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Sep. 30, 2024
Jun. 30, 2024
Restructuring Cost and Reserve [Line Items]                  
Restructuring charges, net of reversals and impairment $ 200,000 $ 1,000,000 $ 500,000 $ 2,300,000          
Restructuring charges 0 1,134,000 437,000 2,707,000          
Restructuring liabilities 68,000 3,398,000 68,000 3,398,000 $ 68,000 $ 618,000 $ 693,000 $ 4,393,000 $ 11,469,000
Other Accrued Liabilities                  
Restructuring Cost and Reserve [Line Items]                  
Restructuring liabilities             $ 700,000    
Maximum | Other Accrued Liabilities                  
Restructuring Cost and Reserve [Line Items]                  
Restructuring liabilities 100,000   100,000   100,000        
2023 Plan                  
Restructuring Cost and Reserve [Line Items]                  
Restructuring charges       100,000          
2023 Plan | Asset Disposals                  
Restructuring Cost and Reserve [Line Items]                  
Restructuring charges 300,000   300,000            
Q3 2024 Plan                  
Restructuring Cost and Reserve [Line Items]                  
Restructuring charges, net of reversals and impairment 0 900,000 400,000 1,500,000          
Q2 2024 Plan                  
Restructuring Cost and Reserve [Line Items]                  
Restructuring charges       $ 600,000          
Restructuring benefits $ 100,000   $ 200,000            
Q2 2024 Plan | Maximum                  
Restructuring Cost and Reserve [Line Items]                  
Restructuring charges   $ 100,000              
Q2 2024 Plan and Q3 2024 Plan                  
Restructuring Cost and Reserve [Line Items]                  
Restructuring charges         $ 28,600,000        
v3.25.4
Restructuring and Related Charges - Summary the activity related to the company's restructuring and related liabilities (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Restructuring and Related Activities [Abstract]        
Balance at beginning of period $ 618 $ 4,393 $ 693 $ 11,469
Period charges $ 0 $ 1,134 $ 437 $ 2,707
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration] Restructuring And Related Charges Restructuring And Related Charges Restructuring And Related Charges Restructuring And Related Charges
Period reversals $ (114) $ (97) $ (180) $ (393)
Period payments (436) (2,032) (882) (10,385)
Balance at end of period $ 68 $ 3,398 $ 68 $ 3,398
v3.25.4
Income Taxes (Narratives) (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Income Tax Disclosure [Abstract]        
Income tax provision (benefit) $ 2,528 $ 2,604 $ 5,269 $ 4,094
Unrecognized tax benefits 18,200   18,200  
Unrecognized tax benefits that would affect the effective tax rate if recognized 100   100  
Unrecognized tax benefit future impact if recognized $ 18,100   $ 18,100  
v3.25.4
Net Income (Loss) Per Share (Schedule of Earnings Per Share, Basic and Diluted) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Net income (loss) per share - basic and diluted        
Net Income (Loss) $ 7,876 $ 7,382 $ 13,487 $ (3,122)
Weighted-average shares used in per share calculation – basic 133,914 132,381 133,443 131,778
Weighted-average shares used in per share calculation – diluted 135,166 134,107 135,379 131,778
Net income (loss) per share - basic        
Net income (loss) per share - basic $ 0.06 $ 0.06 $ 0.1 $ (0.02)
Net income (loss) per share - diluted        
Net income (loss) per share - diluted $ 0.06 $ 0.06 $ 0.1 $ (0.02)
Options to purchase common stock        
Net income (loss) per share - basic and diluted        
Options to purchase common stock 258 551 274 0
Restricted stock units        
Net income (loss) per share - basic and diluted        
Options to purchase common stock 915 1,100 1,556 0
Employee Stock Purchase Plan shares        
Net income (loss) per share - basic and diluted        
Options to purchase common stock 79 75 106 0
v3.25.4
Net Income (Loss) Per Share (Schedule of Anti-Dilutive Shares Excluded from Earnings Per Share Calculation) (Details) - shares
shares in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities excluded from computation of EPS 1,157 1,990 1,006 7,180
Options to purchase common stock        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities excluded from computation of EPS 0 0 0 997
Restricted stock units        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities excluded from computation of EPS 537 1,295 554 5,638
Employee Stock Purchase Plan shares        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities excluded from computation of EPS 620 695 452 545