INTAPP, INC., 10-K filed on 8/20/2025
Annual Report
v3.25.2
Document and Entity Information - USD ($)
$ in Billions
 12 Months Ended
Jun. 30, 2025
Aug. 13, 2025
Dec. 31, 2024
Cover [Abstract]      
Document Type 10-K    
Amendment Flag false    
Document Period End Date Jun. 30, 2025    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Entity Registrant Name Intapp, Inc.    
Entity Central Index Key 0001565687    
Entity Current Reporting Status Yes    
Entity Voluntary Filers No    
Entity Interactive Data Current Yes    
Current Fiscal Year End Date --06-30    
Entity Filer Category Large Accelerated Filer    
Entity Well-known Seasoned Issuer Yes    
Entity Public Float     $ 3.5
Entity Common Stock, Shares Outstanding   82,120,030  
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Small Business false    
Entity Emerging Growth Company false    
Title of 12(b) Security Common Stock, par value $0.001 per share    
Trading Symbol INTA    
Security Exchange Name NASDAQ    
Entity File Number 001-40550    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 46-1467620    
Entity Address, Address Line One 3101 Park Blvd    
Entity Address, City or Town Palo Alto    
Entity Address, State or Province CA    
Entity Address, Postal Zip Code 94306    
City Area Code 650    
Local Phone Number 852-0400    
Document Annual Report true    
Document Transition Report false    
Auditor Firm ID 34    
Auditor Name Deloitte & Touche LLP    
Auditor Location San Jose, California    
Auditor Opinion

Opinion on the Financial Statements

We have audited the accompanying consolidated balance sheets of Intapp, Inc. and subsidiaries (the "Company") as of June 30, 2025 and 2024, the related consolidated statements of operations, comprehensive loss, stockholders' equity, and cash flows, for each of the three years in the period ended June 30, 2025, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of June 30, 2025 and 2024, and the results of its operations and its cash flows for each of the three years in the period ended June 30, 2025, in conformity with accounting principles generally accepted in the United States of America.

We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company's internal control over financial reporting as of June 30, 2025, based on criteria established in Internal Control — Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated August 20, 2025, expressed an unqualified opinion on the Company's internal control over financial reporting.

   
Documents Incorporated by Reference

Part III, Items 10, 11, 12, 13 and 14 of this Annual Report on Form 10-K incorporates by reference where indicated certain sections of the definitive proxy statement for Intapp, Inc.’s 2025 Annual Meeting of Stockholders, to be filed with the United States Securities and Exchange Commission within 120 days after the end of the fiscal year to which this Annual Report on Form 10-K relates.

    
v3.25.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Jun. 30, 2024
Current assets:    
Cash and cash equivalents $ 313,109 $ 208,370
Restricted cash 200 200
Accounts receivable, net of allowance of $968 and $1,406 as of June 30, 2025 and June 30, 2024, respectively 89,667 95,103
Unbilled receivables, net 19,462 13,300
Other receivables, net 5,866 2,743
Prepaid expenses 11,971 9,031
Deferred commissions, current 15,605 13,907
Total current assets 455,880 342,654
Property and equipment, net 23,157 18,944
Operating lease right-of-use assets 18,139 21,382
Goodwill 326,260 285,969
Intangible assets, net 40,699 40,293
Deferred commissions, noncurrent 20,761 18,495
Other assets 9,265 5,262
Total assets 894,161 732,999
Current liabilities:    
Accounts payable 16,497 13,348
Accrued compensation 51,654 42,066
Accrued expenses 12,647 12,040
Deferred revenue, net 256,994 218,923
Other current liabilities 12,066 14,270
Total current liabilities 349,858 300,647
Deferred tax liabilities 1,716 1,336
Deferred revenue, noncurrent 2,002 3,563
Operating lease liabilities, noncurrent 16,114 19,605
Other liabilities 4,706 4,610
Total liabilities 374,396 329,761
Commitments and contingencies (Note 10)
Stockholders' equity:    
Preferred stock, $0.001 par value per share, 50,000 shares authorized; no shares issued or outstanding as of June 30, 2025 and 2024, respectively
Common stock, $0.001 par value per share, 700,000 shares authorized; 81,877 and 74,624 shares issued and outstanding as of June 30, 2025 and June 30, 2024, respectively 82 75
Additional paid-in capital 1,025,712 891,681
Accumulated other comprehensive loss (630) (1,336)
Accumulated deficit (505,399) (487,182)
Total stockholders' equity 519,765 403,238
Total liabilities and stockholders' equity $ 894,161 $ 732,999
v3.25.2
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Jun. 30, 2025
Jun. 30, 2024
Allowance for doubtful accounts $ 968 $ 1,406
Preferred stock, par value per share $ 0.001 $ 0.001
Preferred stock, shares authorized 50,000,000 50,000,000
Preferred stock, shares issued 0 0
Preferred stock, shares outstanding 0 0
Common stock, par value per share $ 0.001 $ 0.001
Common stock, shares authorized 700,000,000 700,000,000
Common stock, shares issued 81,877,000 74,624,000
Common stock, shares outstanding 81,877,000 74,624,000
v3.25.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Revenues      
Total revenues $ 504,120 $ 430,523 $ 350,873
Cost of revenues      
Total cost of revenues 131,148 123,661 111,462
Gross profit 372,972 306,862 239,411
Operating expenses:      
Research and development 137,760 113,634 93,851
Sales and marketing 163,846 138,176 132,189
General and administrative 98,723 87,243 81,031
Lease modification and impairment 0 0 1,601
Total operating expenses 400,329 339,053 308,672
Operating loss (27,357) (32,191) (69,261)
Interest and other income (expense), net 11,219 2,285 (659)
Net loss before income taxes (16,138) (29,906) (69,920)
Income tax (expense) benefit (2,079) (2,115) 495
Net loss $ (18,217) $ (32,021) $ (69,425)
Net loss per share, basic $ (0.23) $ (0.45) $ (1.08)
Net loss per share, diluted $ (0.23) $ (0.45) $ (1.08)
Weighted-average shares used to compute net loss per share, basic 78,710 71,488 64,295
Weighted-average shares used to compute net loss per share, diluted 78,710 71,488 64,295
SaaS      
Revenues      
Total revenues $ 331,948 $ 259,256 $ 197,090
Cost of revenues      
Total cost of revenues 66,714 53,487 46,764
License      
Revenues      
Total revenues 120,024 117,386 104,190
Cost of revenues      
Total cost of revenues 6,256 6,344 6,258
Professional Services      
Revenues      
Total revenues 52,148 53,881 49,593
Cost of revenues      
Total cost of revenues $ 58,178 $ 63,830 $ 58,440
v3.25.2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Statement of Comprehensive Income [Abstract]      
Net loss $ (18,217) $ (32,021) $ (69,425)
Other comprehensive income:      
Foreign currency translation adjustments 706 3 333
Other comprehensive income: 706 3 333
Comprehensive loss $ (17,511) $ (32,018) $ (69,092)
v3.25.2
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
shares in Thousands, $ in Thousands
Total
Follow-On Public Offering
Common Stock
Common Stock
Follow-On Public Offering
Additional Paid-in Capital
Additional Paid-in Capital
Follow-On Public Offering
Accumulated Other Comprehensive Loss
Accumulated Deficit
Beginning Balance at Jun. 30, 2022 $ 255,882   $ 63   $ 643,227   $ (1,672) $ (385,736)
Beginning Balance, shares at Jun. 30, 2022     62,739          
Issuance of common stock, net of offering costs / issuance costs   $ 68,514   $ 2   $ 68,512    
Issuance of common stock, net of offering costs / issuance costs, shares       2,000        
Issuance of common stock upon exercise of stock options 23,456   $ 2   23,454      
Issuance of common stock upon exercise of stock options, shares     2,313          
Vesting of performance stock units and restricted stock units, net of shares withheld for taxes (9,056)   $ 2   (9,058)      
Vesting of performance stock and restricted stock units, net of shares withheld for taxes, shares     1,353          
Issuance of common stock under employee stock purchase plan 2,700       2,700      
Issuance of common stock under employee stock purchase plan, shares     142          
Stock-based compensation 67,769       67,769      
Issuance upon business combination 1,035       1,035      
Issuance upon business combination, shares     27          
Foreign currency translation adjustments 333           333  
Net loss (69,425)             (69,425)
Ending Balance at Jun. 30, 2023 341,208   $ 69   797,639   (1,339) (455,161)
Ending Balance, shares at Jun. 30, 2023     68,574          
Issuance of common stock, net of offering costs / issuance costs   $ (4)       $ (4)    
Issuance of common stock upon exercise of stock options $ 30,726   $ 3   30,723      
Issuance of common stock upon exercise of stock options, shares 3,105   3,105          
Vesting of performance stock units and restricted stock units, net of shares withheld for taxes     $ 3   (3)      
Vesting of performance stock and restricted stock units, net of shares withheld for taxes, shares     2,808          
Issuance of common stock under employee stock purchase plan $ 3,431       3,431      
Issuance of common stock under employee stock purchase plan, shares     137          
Stock-based compensation 59,895       59,895      
Foreign currency translation adjustments 3           3  
Net loss (32,021)             (32,021)
Ending Balance at Jun. 30, 2024 403,238   $ 75   891,681   (1,336) (487,182)
Ending Balance, shares at Jun. 30, 2024     74,624          
Issuance of common stock upon exercise of stock options $ 40,845   $ 4   40,841      
Issuance of common stock upon exercise of stock options, shares 4,212   4,212          
Vesting of performance stock units and restricted stock units, net of shares withheld for taxes     $ 3   (3)      
Vesting of performance stock and restricted stock units, net of shares withheld for taxes, shares     2,929          
Issuance of common stock under employee stock purchase plan $ 4,080       4,080      
Issuance of common stock under employee stock purchase plan, shares     112          
Stock-based compensation 88,729       88,729      
Equity consideration related to business combination 384       384      
Foreign currency translation adjustments 706           706  
Net loss (18,217)             (18,217)
Ending Balance at Jun. 30, 2025 $ 519,765   $ 82   $ 1,025,712   $ (630) $ (505,399)
Ending Balance, shares at Jun. 30, 2025     81,877          
v3.25.2
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) (Parenthetical) - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Follow-On Public Offering    
Offering costs $ 1,569 $ 1,565
v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Cash Flows from Operating Activities:      
Net loss $ (18,217) $ (32,021) $ (69,425)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 17,672 16,704 15,319
Amortization of operating lease right-of-use assets 5,039 4,781 4,639
Accounts receivable allowances 1,973 3,711 922
Stock-based compensation 88,086 59,895 67,769
Lease modification and impairment 0 0 1,601
Change in fair value of contingent consideration (1,027) (3,290) (1,762)
Deferred income taxes 448 (22) (912)
Other 389 239 154
Changes in operating assets and liabilities:      
Accounts receivable 1,170 (5,138) (26,402)
Unbilled receivables, current (6,162) (2,639) (3,898)
Prepaid expenses and other assets (8,003) (5,740) 1,261
Deferred commissions (3,716) (4,066) (3,394)
Accounts payable and accrued liabilities 13,491 9,438 2,313
Deferred revenue, net 35,327 28,261 46,565
Operating lease liabilities (5,132) (4,266) (5,922)
Other liabilities 2,191 1,384 (1,341)
Net cash provided by operating activities 123,529 67,231 27,487
Cash Flows from Investing Activities:      
Purchases of property and equipment (1,673) (2,457) (2,212)
Capitalized internal-use software costs (7,370) (6,398) (5,524)
Business combinations, net of cash acquired (51,832) (10,973) (6,604)
Purchase of strategic investments (2,000) 0 0
Net cash used in investing activities (62,875) (19,828) (14,340)
Cash Flows from Financing Activities:      
Proceeds from public offering, net of underwriting discounts 0 0 70,080
Payments for deferred offering costs 0 (781) (790)
Proceeds from stock option exercises 40,845 30,726 23,456
Proceeds from employee stock purchase plan 4,080 3,431 2,700
Payments related to tax withholding for vested equity awards 0 0 (9,056)
Payments of contingent consideration and holdback associated with acquisitions (3,742) (3,051) (22,290)
Net cash provided by financing activities 41,183 30,325 64,100
Effect of foreign currency exchange rate changes on cash and cash equivalents 2,902 (343) (373)
Net increase in cash, cash equivalents and restricted cash 104,739 77,385 76,874
Cash, cash equivalents and restricted cash - beginning of period 208,570 131,185 54,311
Cash, cash equivalents and restricted cash - end of period 313,309 208,570 131,185
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:      
Cash and cash equivalents 313,109 208,370 130,377
Restricted cash 200 200 808
Total cash, cash equivalents and restricted cash 313,309 208,570 131,185
Supplemental Disclosures of Cash Flow Information:      
Cash paid for income taxes, net of tax refunds 3,024 2,184 1,812
Non-cash investing and financing activities:      
Purchases of property and equipment in accounts payable and accrued liabilities 583 69 517
Capitalized internal-use software costs in accounts payable and accrued liabilities 938 702 378
Deferred offering costs in accounts payable and accrued liabilities 0 0 776
Contingent consideration and acquisition holdbacks in accounts payable, accrued expenses and other liabilities 1,134 3,052 5,941
Issuance of common stock in connection with a business combination 384 0 1,035
Stock-based compensation expense capitalized in internal-use software costs, net 478 0 0
Business combinations, net of cash acquired:      
Cash paid 51,920 13,967 6,711
Cash acquired (88) (2,994) (107)
Total consideration $ 51,832 $ 10,973 $ 6,604
v3.25.2
Cybersecurity Risk Management, Strategy, and Governance
 12 Months Ended
Jun. 30, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]

Item 1C. Cybersecurity.

Cybersecurity Risk Management and Strategy

The Company recognizes the critical importance of developing, implementing, and maintaining robust cybersecurity measures to safeguard our information systems and to protect the confidentiality, integrity, and availability of our and our client’s data and information assets. As such, we have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and information. Our cybersecurity risk management program includes a cybersecurity incident response plan.

We design our program based on industry standard cybersecurity frameworks, such as the National Institute of Standards and Technology Cybersecurity Framework (NIST CSF). This does not imply that we meet any particular technical standards, specifications, or requirements, only that we use the NIST CSF as a guide to help us identify, assess, and manage cybersecurity risks relevant to our business. Also, our cloud services comply with numerous internationally recognized standards, such as ISO 27001, ISO 27017, ISO 27108, SOC 2 and CSA STAR.

Our cybersecurity risk management program is integrated into our overall enterprise risk management program, and shares common methodologies, reporting channels and governance processes that apply across the enterprise risk management program to legal, compliance, strategic, operational, and financial risk areas. Our cybersecurity incident response plan is also designed to integrate with or complement other enterprise plans, such as our business continuity plan and crisis management plan.

Our cybersecurity risk management program includes:

•
Risk assessments designed to help identify material cybersecurity risks to our critical systems, information, products, services, and our broader enterprise IT environment;
•
A security team principally responsible for managing (1) our cybersecurity governance and risk assessment processes, (2) our security controls, and (3) our response to cybersecurity incidents;
•
The use of external service providers, where appropriate, to assess, test or otherwise assist with aspects of our security controls;
•
Cybersecurity awareness training of our employees, incident response personnel, and senior management, including through the use of third-party providers for regular mandatory trainings;
•
A cybersecurity incident response plan that includes procedures for responding to cybersecurity incidents; and
•
A third-party risk management process for service providers, suppliers, and vendors.

When we experience cybersecurity incidents, we promptly activate incident response protocols and commence investigation of the incident. We may notify law enforcement and engage third-party professionals, as appropriate, as part of our incident response and/or investigation. Based on our assessments, during the last fiscal year, we have not identified any cybersecurity threat that has had a material impact on, or that we expect will have a material impact on our operations, business strategy, results of operations, or financial condition. However, we face ongoing cybersecurity risks, including threats that might become more sophisticated and effective over time. If realized, these risks are reasonably likely to materially affect us. Additional information on the cybersecurity risks we face is discussed in Part I, Item 1A, “Risk Factors.”

Cybersecurity Governance

Our Board of Directors considers cybersecurity risk as part of its risk oversight function and has delegated to the Audit Committee (“Committee”) oversight of our enterprise risks, including cybersecurity and other information security risks. The Committee oversees management’s implementation of our cybersecurity risk management program. Also, we created a Risk Management Working Group which meets no less than quarterly and which receives updates on our cybersecurity risk management program and cybersecurity risks from the Chief Information Security Officer (“CISO”). The Risk Management Working Group includes two Audit Committee members, certain members of senior management and the CISO.

The Committee receives quarterly reports on our cybersecurity risks from the Risk Management Working Group. In addition, management updates the Committee, as necessary, regarding any material cybersecurity incidents, as well as any incidents with lesser impact potential.

The Committee reports quarterly to the full Board of Directors regarding its activities, including those related to cybersecurity. The full Board of Directors also receives briefings on our cyber risk management program.

Our team of experienced cybersecurity professionals has primary responsibility for our overall cybersecurity risk management program, including assessing and managing material risks from cybersecurity threats. Our CISO, Mark Schertler, supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. Mr. Schertler has over 40 years of experience in the field of cybersecurity. Mr. Schertler leads a team of experienced cybersecurity professionals who have extensive experience in the field of cybersecurity, including experience in cybersecurity consulting, cloud security, security architecture, application security and serving as a chief technology officer.

Our management team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us; and alerts and reports produced by security tools deployed in the IT environment.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]

Our cybersecurity risk management program is integrated into our overall enterprise risk management program, and shares common methodologies, reporting channels and governance processes that apply across the enterprise risk management program to legal, compliance, strategic, operational, and financial risk areas. Our cybersecurity incident response plan is also designed to integrate with or complement other enterprise plans, such as our business continuity plan and crisis management plan.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]

Our Board of Directors considers cybersecurity risk as part of its risk oversight function and has delegated to the Audit Committee (“Committee”) oversight of our enterprise risks, including cybersecurity and other information security risks. The Committee oversees management’s implementation of our cybersecurity risk management program. Also, we created a Risk Management Working Group which meets no less than quarterly and which receives updates on our cybersecurity risk management program and cybersecurity risks from the Chief Information Security Officer (“CISO”). The Risk Management Working Group includes two Audit Committee members, certain members of senior management and the CISO.

The Committee receives quarterly reports on our cybersecurity risks from the Risk Management Working Group. In addition, management updates the Committee, as necessary, regarding any material cybersecurity incidents, as well as any incidents with lesser impact potential.

The Committee reports quarterly to the full Board of Directors regarding its activities, including those related to cybersecurity. The full Board of Directors also receives briefings on our cyber risk management program.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] Our Board of Directors considers cybersecurity risk as part of its risk oversight function and has delegated to the Audit Committee (“Committee”) oversight of our enterprise risks, including cybersecurity and other information security risks. The Committee oversees management’s implementation of our cybersecurity risk management program.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]

The Committee receives quarterly reports on our cybersecurity risks from the Risk Management Working Group. In addition, management updates the Committee, as necessary, regarding any material cybersecurity incidents, as well as any incidents with lesser impact potential.

The Committee reports quarterly to the full Board of Directors regarding its activities, including those related to cybersecurity. The full Board of Directors also receives briefings on our cyber risk management program.
Cybersecurity Risk Role of Management [Text Block] we created a Risk Management Working Group which meets no less than quarterly and which receives updates on our cybersecurity risk management program and cybersecurity risks from the Chief Information Security Officer (“CISO”). The Risk Management Working Group includes two Audit Committee members, certain members of senior management and the CISO.

The Committee receives quarterly reports on our cybersecurity risks from the Risk Management Working Group. In addition, management updates the Committee, as necessary, regarding any material cybersecurity incidents, as well as any incidents with lesser impact potential.

The Committee reports quarterly to the full Board of Directors regarding its activities, including those related to cybersecurity. The full Board of Directors also receives briefings on our cyber risk management program.

Our team of experienced cybersecurity professionals has primary responsibility for our overall cybersecurity risk management program, including assessing and managing material risks from cybersecurity threats. Our CISO, Mark Schertler, supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. Mr. Schertler has over 40 years of experience in the field of cybersecurity. Mr. Schertler leads a team of experienced cybersecurity professionals who have extensive experience in the field of cybersecurity, including experience in cybersecurity consulting, cloud security, security architecture, application security and serving as a chief technology officer.

Our management team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us; and alerts and reports produced by security tools deployed in the IT environment.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] we created a Risk Management Working Group which meets no less than quarterly and which receives updates on our cybersecurity risk management program and cybersecurity risks from the Chief Information Security Officer (“CISO”). The Risk Management Working Group includes two Audit Committee members, certain members of senior management and the CISO.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]

Our team of experienced cybersecurity professionals has primary responsibility for our overall cybersecurity risk management program, including assessing and managing material risks from cybersecurity threats. Our CISO, Mark Schertler, supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. Mr. Schertler has over 40 years of experience in the field of cybersecurity. Mr. Schertler leads a team of experienced cybersecurity professionals who have extensive experience in the field of cybersecurity, including experience in cybersecurity consulting, cloud security, security architecture, application security and serving as a chief technology officer.

Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]

Our management team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us; and alerts and reports produced by security tools deployed in the IT environment.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.2
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Pay vs Performance Disclosure      
Net Income (Loss) $ (18,217) $ (32,021) $ (69,425)
v3.25.2
Insider Trading Arrangements
 3 Months Ended
Jun. 30, 2025
shares
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement

Rule 10b5-1 Trading Plans

George Neble, a member of our Board of Directors, entered into a stock trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) (a “Rule 10b5-1 Plan”) on May 28, 2025, which has an end date of May 31, 2026. Mr. Neble’s Rule 10b5-1 Plan provides for the potential sale of up to 5,800 shares of Intapp common stock.

Michele Murgel, our Chief People and Places Officer, entered into a Rule 10b5-1 Plan on June 9, 2025, which has an end date of February 20, 2026. Ms. Murgel’s Rule 10b5-1 Plan provides for the potential sale of up to 71,148 shares of Intapp common stock and the potential sale of the net shares of Intapp common stock that Ms. Murgel will receive from the vesting of certain outstanding awards of PSUs and RSUs granted prior to the adoption of her current Rule 10b5-1 Plan until the plan’s end date.

Don Coleman, our Chief Operating Officer, entered into a Rule 10b5-1 Plan on June 13, 2025, which has an end date of September 30, 2026. Mr. Coleman’s Rule 10b5-1 Plan provides for the potential sale of the net shares of Intapp common stock that Mr. Coleman will receive from the vesting of an outstanding award of RSUs and 50% of the net shares that Mr. Coleman will receive from the vesting of outstanding awards of PSUs granted prior to the adoption of his current Rule 10b5-1 Plan until the plan’s end date.

George Neble  
Trading Arrangements, by Individual  
Name George Neble
Title Board of Directors
Rule 10b5-1 Arrangement Adopted true
Adoption Date May 28, 2025
Expiration Date May 31, 2026
Arrangement Duration 368 days
Michele Murgel  
Trading Arrangements, by Individual  
Name Michele Murgel
Title Chief People and Places Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date June 9, 2025
Expiration Date February 20, 2026
Arrangement Duration 257 days
Don Coleman  
Trading Arrangements, by Individual  
Name Don Coleman
Title Chief Operating Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date June 13, 2025
Expiration Date September 30, 2026
Arrangement Duration 475 days
Potential sale of common stock | George Neble  
Trading Arrangements, by Individual  
Aggregate Available 5,800
Potential sale of common stock | Michele Murgel  
Trading Arrangements, by Individual  
Aggregate Available 71,148
v3.25.2
Insider Trading Policies and Procedures
 12 Months Ended
Jun. 30, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.2
Description of Business
 12 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of Business

Note 1. Description of Business

Intapp, Inc. (“Intapp” or the “Company”) is a leading global provider of AI-powered solutions for the world’s premier accounting, consulting, investment banking, legal, private capital and real assets firms. Its vertical software as a service (“SaaS”) solutions help professionals apply their collective expertise to make smarter decisions, manage risk, increase competitive advantage and drive new growth. Using the power of Applied AI, its purpose-built vertical SaaS solutions help firms accelerate the flow of information, activate expertise, empower teams, strengthen client relationships, reduce risk, and adapt more quickly in a highly complex ecosystem. The Company serves clients primarily in the United States (“U.S.”) and the United Kingdom (“U.K.”). References to “the Company” in these consolidated financial statements refer to the consolidated operations of Intapp and its consolidated subsidiaries.

v3.25.2
Summary of Significant Accounting Policies
 12 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies

Note 2. Summary of Significant Accounting Policies

Basis of Presentation and Principles of Consolidation

The consolidated financial statements have been prepared in accordance with GAAP and reflect the consolidated results of operations, financial position, and cash flows of the Company and its consolidated subsidiaries, after eliminating all inter-company transactions and balances.

Certain prior period amounts reported in the consolidated financial statements and notes thereto have been reclassified to conform to the current year presentation. Effective July 1, 2024, the Company adjusted the classification of support services related to subscription license to be included within “license” on the consolidated statements of operations. Prior to July 1, 2024, support services related to subscription license was included in a line item entitled “SaaS and Support.” The presentation of cost of revenues has been conformed to reflect the changes related to the presentation of revenues. Such reclassifications related to the presentation of revenues and cost of revenues did not affect total revenues, operating income, or net income. There was no change to the Company's revenue recognition policy, except for the change in classification noted herein.

Accordingly, effective July 1, 2024, SaaS revenues include subscription fees from clients accessing the Company’s SaaS solutions, premium support services related to SaaS, and updates, if any, to the subscribed service during the subscription term. License revenues include subscription fees from providing clients with the right to functional intellectual property where clients can benefit from the subscription licenses on their own and support services related to the licenses, which entitles clients to receive technical support and software updates, on a when and if available basis. Refer to the Revenue Recognition section in Note 2. “Summary of Significant Accounting Policies.”

Use of Estimates

The preparation of the accompanying consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Those estimates and assumptions include, but are not limited to, revenue recognition including determination of the standalone selling price (“SSP”) of the deliverables included in multiple deliverable revenue arrangements; allowance for credit losses; the depreciable lives of long-lived assets including intangible assets; the period of benefits of deferred commissions; the fair value of stock-based awards and estimates on the probability of performance vesting conditions; the fair value of assets acquired and liabilities assumed in business combinations; goodwill and long-lived assets impairment assessment; the fair value of contingent consideration liabilities; the incremental borrowing rate used to determine the operating lease liabilities; valuation allowances on deferred tax assets; fair value of strategic investments; uncertain tax positions; and loss contingencies. The Company evaluates estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ from these estimates, and those differences could be material to the consolidated financial statements.

Segment Information

The Company’s Chief Executive Officer is the Company’s Chief Operating Decision Maker (“CODM”). The CODM reviews financial information presented on a consolidated basis for the purposes of making operating decisions, allocating resources, and evaluating financial performance. As such, the Company has determined that it operates in one operating and reportable segment.

The CODM is regularly provided with expenses related to cost of revenues, including cost of SaaS, license, and professional services, research and development, sales and marketing, and general and administrative at the consolidated level to manage the Company’s operations, which are identified as significant segment expenses. Since the Company operates as a single operating and reportable segment, these significant segment expenses are the costs and expenses presented on the consolidated statements of operations. In addition, the Company has concluded that stock-based compensation disclosed in Note 12. “Stock-based Compensation” and amortization of acquired intangible assets disclosed in Note 5. “Goodwill and Intangible Assets” also qualify as significant segment expenses. Accordingly, the CODM assesses performance and decides how to allocate resources based on consolidated net loss, as reported on the consolidated statements of operations. Consolidated net loss is used to monitor budget versus actual results in assessing the overall profitability of the business and to guide decisions on how to invest in and grow the business. The measure of segment assets is reported on the balance sheet as total consolidated assets. Other segment items which represent segment expenses that are not significant include interest and other income (expense), net and income tax (expense) benefit, which are reflected in the consolidated statements of operations.

The Company’s property and equipment are primarily located in the U.S. Information about geographic revenues is included in Note 3. “Revenues.”

Revenue Recognition

The Company generates revenues from the sale of its SaaS solutions and premium support services related to SaaS, and subscriptions to the Company’s term software applications and support services related to licenses. The Company generates professional services revenues primarily by delivering professional services for the configuration, implementation and upgrade of its solutions.

Revenue is recognized upon the transfer of control of services or to clients in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services or products. The Company applies the following framework to recognize revenues:

•
Identification of the contract, or contracts, with a customer;
•
Identification of the performance obligations in the contract;
•
Determination of the transaction price;
•
Allocation of the transaction price to the performance obligations in the contract; and
•
Recognition of revenues when, or as, the Company satisfies a performance obligation.

The Company records revenues net of applicable sales taxes collected. Sales taxes collected from clients are recorded in other current liabilities in the accompanying consolidated balance sheets and are remitted to state and local taxing jurisdictions based on the filing requirements of each jurisdiction.

SaaS Revenue

SaaS revenues include subscription fees from clients accessing the Company’s SaaS solutions, premium support services related to SaaS, and updates, if any, to the subscribed service during the subscription term. The Company recognizes SaaS revenues ratably over the contract term beginning on the commencement date of each contract, which is the date when the Company’s service is available to its clients. The Company’s contracts with clients typically include a fixed amount of consideration and are generally non-cancelable and without any refund-type provisions. The Company’s SaaS subscriptions are generally sold as annual or multi-year terms with automatic annual renewal provisions on the expiration of the initial term. The initial term of the Company’s SaaS contract is generally one to three years in duration. Contracts with termination for convenience provision in certain multi-year contracts are accounted as an annual contract. Invoice is generally billed in advance on an annual basis for the SaaS and support services upon execution of the initial contract or subsequent renewal.

License Revenue

License revenues include subscription fees from providing clients with the right to functional intellectual property where clients can benefit from the subscription licenses on their own and support services related to the licenses, which entitles clients to receive technical support and software updates, on a when and if available basis. The Company recognizes license revenues related to subscription fees at a point in time when control of the term software application is transferred to the client, which generally occurs at the time of delivery or upon commencement of the renewal term. The Company recognizes license revenues related to support ratably over the term of the support contract which corresponds to the underlying license agreement. Subscription license fees are generally billed in advance on an annual basis over the term of the license arrangement, which is typically non-cancelable.

Professional Services Revenue

Professional services arrangements sold on a time and materials basis are generally invoiced monthly in arrears and revenues are recognized as services are delivered. In instances where professional services arrangements are sold on a fixed price basis, invoicing occurs upon the achievement of project milestones and revenues are recognized over time using an input measure of time incurred to date relative to total estimated time to be incurred at project completion.

Contracts with Multiple Performance Obligations

The Company reviewed and concluded that each of the SaaS subscription, support services, subscription license and professional services noted above are performance obligations that are capable of being distinct. The Company evaluates the terms and conditions included within its client contracts to ensure appropriate revenue recognition, including whether products and services are considered distinct in the context of the contract and therefore should be accounted for separately or combined. For contracts with multiple performance obligations, the transaction price is allocated to the separate performance obligations on a relative SSP basis.

The Company uses historical sales transaction data, market conditions and other observable inputs, to determine the SSP for each distinct performance obligation. The Company’s SSP ranges are reassessed periodically or when facts and circumstances change.

Contract Modifications

Contracts may be modified to account for changes in contract scope or price. The Company considers contract modifications to exist when the modification either creates new rights or obligations or changes the existing enforceable rights and obligations of either party. Contract modifications are accounted for prospectively when it results in the promise to deliver additional products and services that are distinct and contract price does not increase by an amount that reflects SSP for the new goods or services.

Contract Balances

Contract Assets

The Company records contract assets when revenue recognized on a contract exceeds the billings. This generally occurs in multi-year subscription license arrangements where control of the software license is transferred at the inception of the contract, but the client is invoiced annually in advance over the term of the license.

Contract Liabilities

Contract liabilities consist of deferred revenues amounts from invoices related to unsatisfied performance obligation where the Company has the right to invoice in advance of revenue being recognized. Deferred revenue expected to be recognized within twelve months of the balance date is classified as current, while amounts exceeding this period are recorded as noncurrent.

Deferred Commissions

The Company capitalizes commissions earned by its sales team as they are considered incremental and recoverable costs of obtaining a contract with a client. Deferred commissions are amortized over a period of benefits that the Company has determined to be generally four years. The Company determines the period of benefits based on its technology development life cycle, expected client relationship period and other factors. Commissions for renewal contracts are amortized over one year. Deferred commissions are amortized based on the pattern of the associated revenue recognition over the related contract term. Amortization of deferred commissions is included in sales and marketing expense in the consolidated statements of operations. Deferred commissions are reviewed periodically for impairment. Refer to Note 3. “Revenues” for more information.

Cost of Revenues

Cost of revenues consists primarily of expenses related to providing SaaS solutions, premium support services related to SaaS, support services related to license and professional services to the Company’s clients, including personnel costs (salaries, bonuses, benefits and stock-based compensation) and related expenses for client support and services personnel, as well as cloud infrastructure costs, third-party expenses, depreciation of fixed assets, amortization of capitalized internal-use software costs and acquired intangible assets, and allocated overhead costs.

Research and Development Costs

Research and development expenses include personnel costs (salaries, bonuses, benefits and stock-based compensation) and related expenses associated with engineering and product development employees, costs of third-party services, cloud infrastructure costs, and allocated overhead costs.

Advertising Costs

Advertising costs are expensed as incurred. Advertising expense was $1.6 million, $1.5 million and $1.3 million for fiscal years ended June 30, 2025, 2024 and 2023, respectively.

Stock-Based Compensation

Compensation expense related to stock-based awards made to employees, consultants and directors are calculated based on the fair value of stock-based awards on the date of grant. The Company determines the grant date fair value of the restricted stock units based on the closing price of the Company’s common stock on the date of grant. The Company determines the grant date fair value of stock option awards and stock purchase rights under the 2021 Employee Stock Purchase Plan (“ESPP”) using the Black-Scholes option pricing model, which requires the Company to make assumptions and judgments about the variables used in the calculation, including the expected term (weighted-average period of time that the options granted are expected to be outstanding), the volatility of the Company’s common stock, an assumed risk-free interest rate and the expected dividend yield. The Company uses historical experience and future expectations to determine the expected term, and volatility is based on the historical volatilities of the Company's common stock. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option. The Company has never declared or paid any cash dividends on the common stock and does not plan to pay cash dividends on the common stock in the foreseeable future, and, therefore, an expected dividend yield is zero.

The related stock-based compensation for stock option awards and restricted stock units is recognized in the consolidated statements of operations on a straight-line basis, over the period in which a participant is required to provide service in exchange for the stock-based awards, which is generally four years. The Company recognizes compensation expense related to ESPP over the respective offering period, which is 6 months. The Company recognizes forfeitures of stock-based awards as they occur.

The Company has issued performance-based stock options and performance-based stock units that vest based upon continued service through the vesting term and achievement of certain performance conditions established by the Board of Directors for a predetermined period. The Company measures stock-based compensation expense for performance-based stock options based on the estimated grant date fair value determined using the Black-Scholes valuation model. The Company measures the fair value of the performance-based stock units based on the closing price of the Company’s common stock on the date of grant. The Company recognizes compensation expense for such awards in the period in which it becomes probable that the performance target will be achieved. Compensation expense for awards that contain performance conditions is calculated using the graded vesting method and at each reporting period, the Company reassesses the probability of achievement of the performance conditions and any change in expense resulting from an adjustment to estimates is treated as a cumulative catch-up in the period of the adjustment.

Restricted Cash

Restricted cash represents amounts held as collateral under certain facility lease agreements.

Cash and Cash Equivalents

All highly-liquid investments with a remaining maturity of 90 days or less at the time of purchase are considered to be cash equivalents. Cash equivalents consist primarily of investments in institutional money market funds. The fair value of money market funds held was $243.2 million and $78.7 million as of June 30, 2025 and 2024, respectively.

Accounts Receivable and Allowance for Expected Credit Losses

Accounts receivable are recorded at invoiced amounts, net of allowance for expected credit losses for estimated losses resulting from its clients failing to make required payments for subscriptions or services rendered. The Company evaluates the collectability of its accounts receivable based on known collection risks, historical experience, reasonable and supportable forecasts of future economic conditions and management judgment. Sufficiency of the allowance is assessed based upon knowledge of credit-worthiness of the Company’s clients, review of historical receivable and reserves trends and other pertinent information. Actual future losses from uncollectible accounts may differ from these estimates.

Changes in the allowance for expected credit losses are recorded as general and administrative expense in the consolidated statements of operations and were not material for any of the periods presented.

Property and Equipment

Property and equipment are stated at cost, less accumulated depreciation and amortization. Construction-in-progress primarily consists of the construction or development of property and equipment that have not yet been placed into service for their intended use. Depreciation and amortization are calculated using the straight-line method over the estimated useful lives of the related assets and commences once the asset is ready to be placed in service. Depreciation on property and equipment, excluding leasehold improvements, ranges from two to seven years. Leasehold improvements are amortized using the straight-line method over the shorter of the estimated useful lives of the respective assets or the remaining lease term. When assets are sold, or otherwise disposed of, the cost and related accumulated depreciation and amortization are removed from the balance sheet and any gain or loss is reflected in operating expenses. Maintenance and repair costs that do not extend the useful life of the assets are expensed as incurred.

Internal-Use Software Costs

Costs related to software acquired, developed, or modified solely to meet the Company’s internal requirements, with no substantive plans to market such software at the time of development, or costs related to development of hosted SaaS products are capitalized during the application development stage. Capitalized internal-use software costs are recorded in Property and equipment, net on the Company’s consolidated balance sheets. Once the products are available for general release, capitalized costs are amortized to cost of revenue related to SaaS in the consolidated statements of operations on a straight-line basis over its estimated useful life, which is generally four years. The Company evaluates the useful lives of these assets on an annual basis and test for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets.

Qualifying implementation costs incurred in cloud computing arrangements incurred during the application development stage are capitalized based on the existing guidance for internal-use software, which is presented as part of the prepaid expenses and other assets based on the term of the associated cloud computing arrangement. The capitalized implementation costs are amortized on a straight-line basis over the term of the associated cloud computing arrangement when the module or component of the cloud computing arrangement is ready for its intended use in the same line item as fees for the associated cloud computing arrangement in the consolidated statements of operations. The Company tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets.

Goodwill and Acquired Intangible Assets

Goodwill represents the excess purchase price over fair value of net tangible and identifiable intangible assets acquired in a business combination. Goodwill is tested for impairment at least annually during the fourth quarter or whenever events or changes in circumstances indicate that the carrying amount of the goodwill may not be recoverable. The Company has determined that it is comprised of one reporting unit for purposes of its annual impairment evaluation. As part of the annual goodwill impairment test, the Company first assesses the qualitative factors to determine whether it is more likely than not that the fair value of the single reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the quantitative goodwill impairment test. If, as a result of its qualitative assessment, it is more likely than not that its fair value is less than its carrying amount, then the quantitative goodwill impairment test will be performed. The quantitative goodwill impairment test identifies goodwill impairment and measures the amount of goodwill impairment loss to be recognized by comparing the fair value of the single reporting unit with its carrying amount. If the fair value exceeds its carrying amount, no further analysis is required; otherwise, any excess of the goodwill carrying amount over the implied fair value is recognized as an impairment loss, and the carrying value of goodwill is written down to fair value.

Intangible assets resulting from the acquisition of entities are estimated by the Company based on the fair value of assets received. Acquired intangible assets consist of client relationships, non-compete agreements, trademarks and trade names, core technology and backlog and are being amortized on a straight-line basis over the useful life with no calculated residual value, which is generally two to seven years. The Company reviews acquired intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable or that the useful life is shorter than what was originally estimated. Recoverability of assets to be held and used is measured by comparing the carrying amount of each asset group to the estimated undiscounted future net cash flows expected to be generated by the asset group over its remaining life. If the carrying amount of the asset group exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying

amount of the asset group exceeds the fair value of the asset group. If the useful life is shorter than originally estimated, the remaining carrying value is amortized over the new shorter useful life.

 

Impairment Assessment of Long-lived Assets

The Company reviews long-lived assets with finite lives, which include property and equipment, capitalized internal-use software, lease right-of-use (“ROU”) assets and acquired intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable or that the useful life is shorter than what was originally estimated. Recoverability of assets to be held and used is measured by comparing the carrying amount of each asset group to the estimated undiscounted future net cash flows expected to be generated by the asset group over its remaining life. If the carrying amount of the asset group exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset group exceeds the fair value of the asset group. If the useful life is shorter than originally estimated, the remaining carrying value is amortized over the new shorter useful life.

Business Combinations

Business combinations are accounted for using the acquisition method of accounting, where the Company allocates the fair value of purchase consideration to the tangible assets acquired, liabilities assumed and intangible assets acquired based on best estimates and assumptions. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Such valuations require management to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets include, but are not limited to, revenues and expense forecasts based on trends of historical performance and management’s estimate of future performance from a market participant perspective, and estimated future cash flows discounted using a weighted-average cost of capital. Such estimates are inherently uncertain and subject to refinement. The Company continues to collect information and reevaluate these estimates and assumptions and record any adjustments to the preliminary estimates to goodwill provided that the Company is within the measurement period. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated statements of operations. Expenses incurred in connection with a business combination are expensed as incurred.

Contingent consideration liabilities arising from business combinations are initially measured at fair value on the acquisition date. Each reporting period thereafter, these obligations are revalued and increases or decreases to the fair value are recorded as adjustments to general and administrative expense in the consolidated statements of operations. Gains and losses resulting from exchange rate fluctuation on contingent consideration liabilities denominated in currencies other than U.S. dollars are recognized in interest and other income (expense), net on the consolidated statements of operations.

Strategic Investments

Strategic investments consist of equity investments in privately-held companies, which are classified as other assets on the consolidated balance sheets. The Company’s strategic investments do not have readily determinable fair values. These investments are accounted for using the measurement alternative at cost, and the Company adjusts for impairments and observable price changes (orderly transactions for the identical or a similar security from the same issuer) included within interest and other income (expense), net on its consolidated statements of operations as and when it occurs. The measurement alternative election is reassessed each reporting period to determine whether the strategic investments continue to be eligible for this election. The Company assesses investments for impairment whenever events or changes in circumstances indicate that the carrying value of an investment may not be recoverable. Impairment indicators may include, but are not limited to, a significant deterioration in earnings performance, credit rating, asset quality or business outlook or a significant adverse change in the regulatory, economic, or technological environment. If the strategic investments are considered impaired, the Company will record an impairment charge for the amount by which the carrying value exceeds the fair value of the investment. No impairment of strategic investment has been identified during the periods presented. The Company’s maximum loss exposure is limited to the carrying value of these investments.

Fair Value of Financial Instruments

The Company applies authoritative guidance for fair value measurements and disclosures for financial assets and liabilities measured on a recurring basis and nonfinancial assets and liabilities. Assets and liabilities recorded at fair value are categorized based upon the level of judgment associated with the inputs used to measure their fair value.

Leases

The Company leases its office space under non-cancelable operating lease agreements. The Company determines whether an arrangement constitutes a lease and records lease liabilities and ROU assets on its consolidated balance sheets at the lease commencement date. Lease liabilities are measured based on the present value of the total lease payments not yet paid, discounted based on either the rate implicit in the lease or the Company’s incremental borrowing rate, whichever is more readily determinable. Lease liabilities due within 12 months are included within other current liabilities on the Company’s consolidated balance sheets. The incremental borrowing rate is based on an estimate of the Company’s expected senior unsecured borrowing rate based on synthetic credit rating, adjusted for collateralization. ROU assets are measured based on the corresponding lease liability adjusted for (i) payments made to the lessor at or before the lease commencement date, (ii) initial direct costs incurred, and (iii) tenant incentives received, incurred or payable under the lease. Recognition of rent expense begins when the lessor makes the underlying asset available to the Company.

The Company does not assume renewals or early terminations of its leases unless it is reasonably certain to exercise these options at commencement and does not allocate consideration between lease and non-lease components. The Company does not recognize right-of-use assets or lease liabilities for short-term leases, which have a lease term of twelve months or less, and recognize the associated lease payments in the consolidated statements of operations on a straight-line basis over the lease term.

ROU assets are evaluated for impairment whenever events or changes in the circumstances indicate that the carrying amount may not be recoverable.

Foreign Currency

The functional currency for all of the Company’s foreign subsidiaries is the U.S. dollar, except Rekoop Ltd., which uses the British pound. The Company translates the foreign functional currency financial statements to U.S. dollars for those entities that do not have U.S. dollars as their functional currency using the exchange rates at the balance sheet date for assets and liabilities, the period average exchange rates for revenues and expenses, and the historical exchange rates for equity transactions. The effects of foreign currency translation adjustments are reflected in stockholders’ equity as a component of accumulated other comprehensive loss.

Foreign currency transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are recorded within interest and other income (expense), net in the consolidated statements of operations.

Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss, which is reported in the accompanying consolidated statements of stockholders’ equity, consists of net loss and foreign currency translation adjustments. The Company’s other comprehensive loss consists of changes in the cumulative effect of translation of financial statements of certain wholly owned foreign subsidiaries that do not have U.S. dollars as their functional currency.

Concentrations of Credit Risk and Significant Clients

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents and accounts receivable. The Company maintains its cash and cash equivalents with multiple high credit quality financial institutions. The Company is exposed to credit risk for cash and cash equivalents held in financial institutions to the extent that such amounts recorded on the balance sheet are in excess of amounts that are insured by the Federal Deposit Insurance Corporation. The Company has not experienced any such losses.

No client individually accounted for 10% or more of the Company’s revenues for any of the fiscal years ended June 30, 2025, 2024 and 2023. As of June 30, 2025 and 2024, one client individually accounted for 17% and 16% of the Company’s total accounts receivable, respectively.

Income Taxes

The Company accounts for income taxes using the asset and liability method. Under this method, deferred income tax assets and liabilities are recorded based on the estimated future tax effects of differences between the financial statement and income tax basis of existing assets and liabilities. These differences are measured using the enacted statutory tax rates that are expected to apply to taxable income for the years in which differences are expected to reverse. The Company recognizes the effect on deferred income taxes of a change in tax rates in the period that includes the enactment date. The Company records a valuation allowance to reduce its deferred tax assets to the net amount that it believes is more-likely-than-not to be realized. Management considers all available evidence, both positive and negative, including historical levels of income, expectations and risks associated with estimates of future taxable income and ongoing tax planning strategies in assessing the need for a valuation allowance.

The Company operates in various tax jurisdictions and is subject to audit by various tax authorities. The Company provides for tax contingencies whenever it is deemed probable that a tax asset has been impaired or a tax liability has been incurred for events such as tax claims or changes in tax laws. Tax contingencies are based upon their technical merits, relative tax law, and the specific facts and circumstances as of each reporting period. The Company establishes liabilities or reduce assets for uncertain tax positions when the Company believes certain tax positions are more likely than not of not being sustained if challenged. Changes in facts and circumstances could result in material changes to the amounts recorded for such tax contingencies.

Net Loss Per Share

The Company’s basic net loss per share is calculated by dividing net loss by the weighted-average number of shares of common stock outstanding for the period, without consideration of potentially dilutive securities. The diluted net loss per share is calculated by giving effect to all potentially dilutive securities outstanding for the period using the treasury stock method or the if-converted method based on the nature of such securities. For periods in which the Company reports net losses, diluted net loss per share is the same as basic net loss per share because potentially dilutive common shares are not assumed to have been issued if their effect is anti-dilutive.

Recently Adopted Accounting Pronouncements

In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting (ASC 280): Improvements to Reportable Segment Disclosures, which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The Company adopted this standard retrospectively for the fiscal year ended June 30, 2025. For further information, refer to the Segment Information section in Note 2. “Summary of Significant Accounting Policies.”

Accounting Pronouncements Not Yet Adopted

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (ASC 740): Improvements to Income Tax Disclosures, which requires additional income tax disclosures to better assess how an entity’s operations, related tax risks, tax planning and operational opportunities affect its tax rate and prospects of future cash flows. This guidance will be effective for the Company’s fiscal year beginning July 1, 2025, and should be applied on a prospective or retrospective basis. The Company expects the adoption to result in additional disclosures only.

In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (ASC 220): Disaggregation of Income Statement Expenses, and in January 2025, the FASB issued ASU No. 2025-01, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date, which clarified the effective date of ASU 2024-03. The guidance requires disclosures, on an annual and interim basis, about specific expense categories presented on the income statement. This guidance will be effective for the Company's fiscal year beginning July 1, 2027 and for interim periods beginning January 1, 2028, and should be applied on either a prospective or retrospective basis. The Company is currently evaluating the impact of the adoption on its consolidated financial statements.

In July 2025, the FASB issued ASU No. 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, which provides a practical expedient for estimating expected credit losses for current accounts receivable and current contract assets to assume that current conditions as of the balance sheet date will persist through the reasonable and supportable forecast period for eligible assets. This guidance will be effective for the Company’s interim and annual reporting periods beginning July 1, 2026, and should be applied on a prospective basis. Early adoption is permitted. The Company is currently evaluating the impact of the adoption on its consolidated financial statements.

v3.25.2
Revenues
 12 Months Ended
Jun. 30, 2025
Revenue Recognition [Abstract]  
Revenues

Note 3. Revenues

Disaggregation of Revenues

Revenues by geography were as follows (in thousands):

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

 

2023

 

U.S.

 

$

339,030

 

 

$

292,009

 

 

$

243,237

 

U.K.

 

 

79,089

 

 

 

64,199

 

 

 

54,326

 

Rest of the world

 

 

86,001

 

 

 

74,315

 

 

 

53,310

 

Total

 

$

504,120

 

 

$

430,523

 

 

$

350,873

 

No country other than those listed above accounted for 10% or more of the Company’s total revenues during the fiscal years ended June 30, 2025, 2024 and 2023.

Deferred Commissions

Deferred commissions were $36.4 million and $32.4 million as of June 30, 2025 and 2024, respectively. Amortization expense with respect to deferred commissions, which is included in sales and marketing expense in the Company’s consolidated statements of operations, was $16.5 million, $14.8 million, and $12.8 million during the fiscal years ended June 30, 2025, 2024 and 2023, respectively. There was no impairment loss in relation to the costs capitalized for the periods presented.

Contract Balances

The Company’s contract assets and liabilities were as follows (in thousands):

 

 

 

June 30, 2025

 

 

June 30, 2024

 

Unbilled accounts receivable(1)

 

$

19,519

 

 

$

13,363

 

Deferred revenue, net

 

 

258,996

 

 

 

222,486

 

 

(1) The long-term portion of $57 thousand and $63 thousand as of June 30, 2025 and 2024, respectively, is included in other assets on the consolidated balance sheets.

There was no allowance for credit losses associated with unbilled receivables as of June 30, 2025 and 2024. During the fiscal year ended June 30, 2025, the Company recognized $218.2 million in revenue pertaining to deferred revenue as of June 30, 2024.

Remaining Performance Obligations

Remaining performance obligations represent non-cancelable contracted revenues that have not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as revenues in future periods. SaaS subscription is typically satisfied over one to three years, license is typically satisfied at a point in time, support services are generally satisfied within one year, and professional services are typically satisfied within one year. Professional services contracts are not included in the performance obligations amount.

As of June 30, 2025, approximately $719.7 million of revenues is expected to be recognized from remaining performance obligations with approximately 54% over the next 12 months and the remainder thereafter.

v3.25.2
Business Combinations
 12 Months Ended
Jun. 30, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Business Combinations

Note 4. Business Combinations

TermSheet

On April 21, 2025, the Company through its wholly owned subsidiary, acquired a 100% equity interest in TermSheet, LLC, a Delaware limited liability company (“TermSheet”), a provider of software for real estate teams. Bringing together Intapp’s product and TermSheet creates a strong team of industry experts and will deliver a powerful operating system tailored to the complex needs of the commercial real estate industry. The transaction has been accounted for as a business combination.

The goodwill balance is primarily attributable to the expected revenue opportunities with the Company’s applications and services offerings, acquired workforce, and other assets that are not separately identifiable. This transaction is accounted for as an asset acquisition for tax purposes, and therefore both the goodwill and acquired intangible asset are deductible for tax purposes.

As part of the purchase price allocation, the Company recognized identifiable intangible assets of $3.2 million for customer relationships and $9.0 million for developed technology. The fair values of these intangible assets were determined using valuation techniques that rely on significant unobservable inputs and are therefore classified as Level 3 measurements within the fair value hierarchy.

The fair value of the customer relationships was estimated using the multi-period excess earnings method, an income-based valuation approach that considers expected future cash flows and contributory asset charges. The estimated useful life of the customer relationships is seven years, based on historical customer retention and the expected economic benefit to the Company. The fair value of the developed technology was determined using the relief-from-royalty method, which estimates value based on projected revenue, an assumed royalty rate, and a risk-adjusted discount rate. The developed technology is being amortized over an estimated useful life of four years, based on the anticipated period of technological relevance and product development cycles.

Acquisition-related transaction costs of $0.5 million, consisting primarily of third-party professional fees, were expensed as incurred and are included in general and administrative expenses in the Company’s consolidated statement of operations for the fiscal year ended June 30, 2025.

In connection with the acquisition of TermSheet, the Company is obligated to make cash payments of up to $15.0 million over the next two fiscal years, subject to certain performance measures and in some cases, certain service conditions. The entire amount was accounted for as post-combination compensation costs to be recognized over the performance measurement period, when it becomes probable that the performance target will be achieved. The Company reassesses the probability of achievement of the performance conditions at each reporting period and any change in expense resulting from an adjustment to estimates is treated as a cumulative catch-up in the period of the adjustment. The deferred consideration liability was included in other current liabilities and other liabilities on the consolidated balance sheets and the related expenses are classified in the consolidated statements of operations based on the nature of the services rendered.

The following table summarizes the preliminary allocation of the consideration to the fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands):

 

 

Amount

 

Cash paid

 

$

51,023

 

Fair value of equity consideration

 

 

384

 

Total purchase consideration

 

 

51,407

 

Goodwill

 

 

39,586

 

Client relationships

 

 

3,180

 

Trademarks and trade names

 

 

22

 

Core technology

 

 

9,030

 

Backlog

 

 

27

 

Net liabilities acquired

 

 

(438

)

Total

 

$

51,407

 

 

Pro forma financial information related to this acquisition has not been presented as the effects of the acquisition described above were not material to the Company’s consolidated financial results. Revenue and net loss attributable to TermSheet included in the Company's consolidated statement of operations for the fiscal year ended June 30, 2025 were not material.

delphai

On April 3, 2024, the Company, through its wholly owned subsidiary, acquired a 100% equity interest in delphai GmbH (“delphai”), a company which specializes in applied AI for firmographic data automation, structuring and intelligence. The transaction has been accounted for as a business combination.

The goodwill balance is primarily attributable to the expected revenue opportunities with the Company’s applications and services offerings, other unidentified assets and acquired workforce. The goodwill recorded is not expected to be deductible for income tax purposes.

Acquisition-related transaction costs of $0.9 million, consisting primarily of third-party professional fees, were expensed as incurred and are included in general and administrative expenses in the Company’s consolidated statement of operations for the fiscal year ended June 30, 2024.

The following table summarizes the allocation of the consideration to the fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands):

 

 

Amount

 

Cash paid

 

$

11,818

 

Holdback

 

 

1,691

 

Total purchase consideration

 

 

13,509

 

Goodwill

 

 

5,433

 

Core technology

 

 

6,800

 

Net assets acquired (inclusive of deferred tax assets of $253)

 

 

1,276

 

Total

 

$

13,509

 

Pro forma financial information related to this acquisition has not been presented as the effects of the acquisition described above were not material to the Company’s consolidated financial results. Revenue and net loss attributable to delphai included in the Company's consolidated statement of operations for the fiscal year ended June 30, 2024 were not material.

TDI

On May 1, 2024, the Company, through its wholly owned subsidiary, acquired a 100% equity interest in Transform Data International B.V. and its subsidiaries (“TDI”), a software and professional services provider and reseller of Intapp's products. The transaction has been accounted for as a business combination.

The goodwill balance is primarily attributable to the expected revenue opportunities with the Company’s applications and services offerings, other unidentified assets and acquired workforce. The goodwill recorded is not expected to be deductible for income tax purposes.

Acquisition-related transaction costs of $0.7 million, consisting primarily of third-party professional fees, were expensed as incurred and are included in general and administrative expenses in the Company’s consolidated statements of operations for the fiscal year ended June 30, 2024.

In connection with the acquisition of TDI, the Company paid $0.9 million to the seller for certain working capital adjustments during the fiscal year ended June 30, 2025. This was included in the initial purchase price and is recorded in investing activities in the Company's consolidated statements of cash flows.

The following table summarizes the allocation of the consideration to the fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands):

 

 

Amount

 

Cash paid

 

$

2,149

 

Deferred consideration

 

 

1,262

 

Fair value of contingent consideration

 

 

99

 

Total purchase consideration

 

 

3,510

 

Goodwill

 

 

1,639

 

Core technology

 

 

1,265

 

Net assets acquired (inclusive of deferred tax liabilities of $240)

 

 

606

 

Total

 

$

3,510

 

Pro forma financial information related to this acquisition has not been presented as the effects of the acquisition described above were not material to the Company’s consolidated financial results. Revenue and net loss attributable to TDI included in the Company's consolidated statement of operations for the fiscal year ended June 30, 2024 were not material.

Paragon

On May 2, 2023, the Company, through its wholly owned subsidiary, acquired a 100% equity interest in Paragon Data Labs, Inc. (“Paragon”), a cloud-based employee compliance software solution provider, in accordance with the terms of the Agreement and Plan of Merger, dated as of the same date. The employee compliance solution addresses regulatory compliance by leveraging advanced technology to monitor, identify, and manage employee adherence to firm policies, enhancing the Intapp Risk and Compliance management solutions to help firms ensure personal independence.

The total consideration for the acquisition consisted of $7.6 million (in cash and shares of its common stock) paid at closing, $1.8 million of deferred consideration and holdbacks (payable in cash and shares of the Company’s common stock) and $4.3 million in the fair value of contingent consideration payable in cash on achievement of certain performance measures.

The goodwill balance is primarily attributable to the expected revenue opportunities with the Company’s applications and services offerings, other unidentified assets and acquired workforce. The goodwill recorded is not expected to be deductible for income tax purposes.

Acquisition-related transaction costs of $1.2 million, consisting primarily of third-party professional fees, were expensed as incurred and are included in general and administrative expenses in the Company’s consolidated statements of operations for the fiscal year ended June 30, 2023.

The following table summarizes the allocation of the consideration to the fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands):

 

 

Amount

 

Cash and stock paid

 

$

7,587

 

Deferred consideration

 

 

565

 

Cash and stock holdbacks

 

 

1,223

 

Fair value of contingent consideration

 

 

4,317

 

Total purchase consideration

 

 

13,692

 

Goodwill

 

 

8,669

 

Non-compete agreement

 

 

500

 

Core technology

 

 

3,300

 

Client relationships

 

 

1,300

 

Backlog

 

 

500

 

Net liabilities acquired (inclusive of deferred tax liabilities of $186)

 

 

(577

)

Total

 

$

13,692

 

Pro forma financial information related to this acquisition has not been presented as the effects of the acquisition described above were not material to the Company’s consolidated financial results. Revenue and net loss attributable to Paragon included in the Company's consolidated statement of operations for the fiscal year ended June 30, 2023 were not material.

Billstream

On June 13, 2022, the Company acquired the assets of Billstream LLC (“Billstream”), a pre-billing automation and workflow solution, from legal operations specialist Wilson Allen. The solution leverages advanced technology to simplify the preparation and validation of prebills and proforma invoices, enhancing the Intapp Operations & Finance suite to create a comprehensive billing and time tracking software solution. The transaction has been accounted for as a business combination.

The total consideration for the acquisition was $18.5 million, which consisted of initial cash consideration of $2.5 million paid at closing, deferred purchase consideration of $10.4 million paid in full in fiscal year 2023, contingent consideration estimated at $4.1 million and amounts held back in the amount of $1.5 million. The contingent consideration will be payable based upon the achievement of certain performance measures, calculated as of September 30, 2023.

The goodwill balance is primarily attributable to the expected revenue opportunities with the Company’s applications and services offerings, other unidentified assets and acquired workforce. The goodwill recorded is expected to be deductible for income tax purposes.

Acquisition-related transaction costs of $0.2 million, consisting primarily of third-party professional fees, were expensed as incurred and are included in general and administrative expenses in the Company’s consolidated statements of operations for the fiscal year ended June 30, 2022.

The following table summarizes the allocation of the consideration to the fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands):

 

 

Amount

 

Cash paid

 

$

2,500

 

Deferred consideration

 

 

10,390

 

Holdback

 

 

1,500

 

Fair value of contingent consideration

 

 

4,126

 

Total purchase consideration

 

 

18,516

 

Goodwill

 

 

7,974

 

Non-compete agreement

 

 

300

 

Core technology

 

 

2,200

 

Client relationships

 

 

6,600

 

Backlog

 

 

500

 

Net assets acquired

 

 

942

 

Total

 

$

18,516

 

Pro forma financial information related to this acquisition has not been presented as the effects of the acquisition described above were not material to the Company’s consolidated financial results.
v3.25.2
Goodwill and Intangible Assets
 12 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

Note 5. Goodwill and Intangible Assets

Goodwill

Changes in the carrying amounts of goodwill were as follows (in thousands):

 

 

Carrying Amount

 

Balance as of June 30, 2023

 

$

278,890

 

Goodwill acquired during the period

 

 

7,072

 

Foreign currency translation adjustment

 

 

7

 

Balance as of June 30, 2024

 

$

285,969

 

Goodwill acquired during the period

 

 

39,586

 

Foreign currency translation adjustment

 

 

705

 

Balance as of June 30, 2025

 

$

326,260

 

 

No impairment of goodwill has been recorded for the fiscal years ended June 30, 2025, 2024 and 2023.

Intangible Assets

Intangible assets acquired through business combinations consisted of the following (in thousands):

 

 

June 30, 2025

 

 

 

Useful Life
(In years)

 

Gross Carrying Amount

 

 

Accumulated
Amortization

 

 

Net Carrying Amount

 

Client relationships

 

9 to 15

 

$

52,080

 

 

$

(33,004

)

 

$

19,076

 

Non-compete agreements

 

3 to 5

 

 

4,907

 

 

 

(4,651

)

 

 

256

 

Trademarks and trade names

 

Indefinite

 

 

4,683

 

 

 

—

 

 

 

4,683

 

Trademarks and trade names

 

5 to 10

 

 

7,844

 

 

 

(6,199

)

 

 

1,645

 

Core technology

 

2 to 7

 

 

69,614

 

 

 

(54,595

)

 

 

15,019

 

Backlog

 

2

 

 

1,027

 

 

 

(1,007

)

 

 

20

 

Intangible assets, net

 

 

 

$

140,155

 

 

$

(99,456

)

 

$

40,699

 

 

 

 

June 30, 2024

 

 

 

Useful Life
(In years)

 

Gross Carrying Amount

 

 

Accumulated
Amortization

 

 

Net Carrying Amount

 

Client relationships

 

9 to 15

 

$

48,900

 

 

$

(28,949

)

 

$

19,951

 

Non-compete agreements

 

3 to 5

 

 

4,907

 

 

 

(4,035

)

 

 

872

 

Trademarks and trade names

 

Indefinite

 

 

4,683

 

 

 

—

 

 

 

4,683

 

Trademarks and trade names

 

5 to 10

 

 

7,822

 

 

 

(5,773

)

 

 

2,049

 

Core technology

 

2 to 7

 

 

60,584

 

 

 

(48,054

)

 

 

12,530

 

Backlog

 

2

 

 

1,000

 

 

 

(792

)

 

 

208

 

Intangible assets, net

 

 

 

$

127,896

 

 

$

(87,603

)

 

$

40,293

 

 

Amortization expense related to acquired intangible assets was recognized as follows (in thousands):

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

 

2023

 

Cost of SaaS

 

$

6,541

 

 

$

4,778

 

 

$

4,340

 

Sales and marketing

 

 

4,696

 

 

 

5,599

 

 

 

5,921

 

General and administrative

 

 

616

 

 

 

652

 

 

 

512

 

Total amortization expense

 

$

11,853

 

 

$

11,029

 

 

$

10,773

 

There was no impairment of intangible assets recorded during the fiscal years ended June 30, 2025, 2024 and 2023.

As of June 30, 2025, the estimated future amortization expense for acquired intangible assets is as follows (in thousands):

Fiscal Year Ending June 30,

 

Amount

 

2026

 

$

10,583

 

2027

 

 

7,832

 

2028

 

 

7,335

 

2029

 

 

5,400

 

2030

 

 

2,295

 

2031 and thereafter

 

 

2,571

 

Total remaining amortization

 

$

36,016

 
v3.25.2
Fair Value Measurements
 12 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements

Note 6. Fair Value Measurements

Financial Assets

The authoritative guidance on fair value measurements establishes a three-tier fair value hierarchy for disclosure of fair value measurements as follows:

Level 1—Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date;

Level 2—Inputs are quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability;

Level 3—Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity).

Money market funds are classified as Level 1 as the assets are valued using quoted prices in active markets. Liabilities for contingent consideration related to business combinations are classified as Level 3 liabilities as the Company uses unobservable inputs in the valuation, specifically related to the projected total contract value generated by the acquired businesses for a distinct period of time.

The following table sets forth the Company’s financial assets that were measured at fair value on a recurring basis as of the date indicated by level within the fair value hierarchy (in thousands):

 

 

June 30, 2025

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

243,232

 

 

$

—

 

 

$

—

 

 

$

243,232

 

Total financial assets

 

$

243,232

 

 

$

—

 

 

$

—

 

 

$

243,232

 

 

 

 

June 30, 2024

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

78,677

 

 

$

—

 

 

$

—

 

 

$

78,677

 

Total financial assets

 

$

78,677

 

 

$

—

 

 

$

—

 

 

$

78,677

 

Strategic Investments

As of June 30, 2025 and 2024, the total amount of strategic investments included in other assets on the Company’s consolidated balance sheets were $2.0 million and not material, respectively. The Company did not recognize any unrealized gain or loss on the strategic investments for the periods presented.

Financial Liabilities

The following tables set forth the Company’s financial liabilities that were measured at fair value on a recurring basis as of the dates indicated by level within the fair value hierarchy (in thousands):

 

 

June 30, 2025

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Liability for contingent consideration, noncurrent portion

 

$

—

 

 

$

—

 

 

$

86

 

 

$

86

 

Total financial liabilities

 

$

—

 

 

$

—

 

 

$

86

 

 

$

86

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2024

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Liability for contingent consideration, current portion

 

$

—

 

 

$

—

 

 

$

2,405

 

 

$

2,405

 

Liability for contingent consideration, noncurrent portion

 

$

—

 

 

$

—

 

 

$

153

 

 

$

153

 

Total financial liabilities

 

$

—

 

 

$

—

 

 

$

2,558

 

 

$

2,558

 

In connection with the acquisition of TDI, the Company recorded a contingent consideration liability of $0.2 million on the acquisition date for the estimated fair value of the contingent consideration, which was measured based on the probability of achieving certain performance measures pursuant to the acquisition agreement. Accordingly, the contingent consideration liability was $0.1 million and $0.2 million as of June 30, 2025 and 2024, respectively, which were included in other liabilities on the consolidated balance sheets.

In connection with the acquisition of Paragon Data Labs, Inc. in May 2023, the Company recorded a contingent consideration liability of $4.3 million on the acquisition date for the estimated fair value of the contingent consideration. The fair value was measured based on the probability of achieving certain performance measures pursuant to the acquisition agreement. The fair value of the contingent consideration was re-measured at $2.4 million as of June 30, 2024. During the fiscal year ended June 30, 2025, the Company made a fair value adjustment of $1.0 million based on the probability of achieving certain performance measures and paid $1.4 million related to the contingent consideration. Accordingly, the contingent consideration was nil as of June 30, 2025, as compared to the fair value of $2.4 million as of June 30, 2024, which was included in other current liabilities on the consolidated balance sheets.

In connection with the acquisition of Billstream, the Company recorded a contingent consideration liability of $4.1 million on the acquisition date for the estimated fair value of the contingent consideration. The fair value was measured based on the probability of achieving certain performance measures pursuant to the acquisition agreement. The fair value of the contingent consideration was re-measured at $2.4 million and was included in other current liabilities on the balance sheet as of June 30, 2023. During the fiscal year ended June 30, 2024, the Company paid $1.0 million in full consideration for the remaining contingent consideration.

The fair value of contingent consideration was initially estimated on the acquisition date primarily using the Monte Carlo simulation and included key assumptions used by management related to the estimated probability of occurrence and discount rates. Subsequent changes in the fair value results from management’s revision of key assumptions and estimates. Changes in fair value of contingent consideration liabilities are recorded in general and administrative expenses on the consolidated statements of operations. Gains and losses resulting from exchange rate fluctuation on contingent consideration liabilities denominated in currencies other than U.S. dollars are recognized in interest and other income, net on the consolidated statements of operations.

Changes in contingent consideration liabilities were as follows (in thousands):

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

Balance, beginning of period

 

$

2,558

 

 

$

6,681

 

Contingent consideration accrued at acquisition

 

 

—

 

 

 

152

 

Payment of contingent consideration

 

 

(1,401

)

 

 

(985

)

Change of contingent consideration

 

 

(1,027

)

 

 

(3,290

)

Effect of foreign currency exchange rate changes

 

 

(44

)

 

 

—

 

Balance, end of period

 

$

86

 

 

$

2,558

 

Other financial instruments consist of accounts receivable, accounts payable, accrued expenses, accrued liabilities and other current liabilities, which are stated at their carrying value as it approximates fair value due to the short time to expected receipt or payment.
v3.25.2
Property and Equipment
 12 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 7. Property and Equipment

Property and equipment, net, consisted of the following (in thousands):

 

 

June 30, 2025

 

 

June 30, 2024

 

Computer equipment and software

 

$

4,921

 

 

$

3,691

 

Capitalized internal-use software

 

 

31,564

 

 

 

23,701

 

Furniture and office equipment

 

 

2,459

 

 

 

2,403

 

Leasehold improvements

 

 

6,543

 

 

 

5,601

 

Construction in progress

 

 

—

 

 

 

163

 

     Total property and equipment

 

 

45,487

 

 

 

35,559

 

Less: accumulated depreciation and amortization

 

 

(22,330

)

 

 

(16,615

)

     Property and equipment, net

 

$

23,157

 

 

$

18,944

 

 

Depreciation expense, excluding the amortization of capitalized internal-use software costs, was $2.1 million, $2.1 million and $1.6 million for the fiscal years ended June 30, 2025, 2024 and 2023, respectively. The impairment charges were not significant for any of the periods presented.

Refer to Note 8. “Internal-Use Software Costs” for additional information related to capitalized internal-use software costs.
v3.25.2
Internal-Use Software Costs
 12 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
Internal-Use Software Costs

Note 8. Internal-Use Software Costs

Capitalized Internal-Use Software

Capitalized internal-use software costs, net consisted of the following (in thousands):

 

 

June 30, 2025

 

 

June 30, 2024

 

Capitalized internal-use software costs

 

$

31,564

 

 

$

23,701

 

Less: Accumulated amortization

 

 

(13,958

)

 

 

(10,232

)

     Capitalized internal-use software costs, net

 

$

17,606

 

 

$

13,469

 

 

Activity related to capitalized internal-use software costs was as follows (in thousands):

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

 

2023

 

Additions to capitalized internal-use software (1)

 

$

8,085

 

 

$

6,723

 

 

$

5,902

 

Amortization (2)

 

$

3,726

 

 

$

3,597

 

 

$

2,874

 

(1) Additions to capitalized stock-based compensation costs, which is included in these amounts, was $0.5 million during the fiscal year ended June 30, 2025 and not material during the fiscal years ended June 2024 and 2023, respectively.

(2) Amortization expense related to capitalized stock-based compensation costs, which is included in these amounts was not material for the periods presented.

The Company has not recorded any material impairment charges in any of the periods presented.

Capitalized Cloud Computing Implementation Costs

Capitalized cloud computing implementation costs, net consisted of the following (in thousands):

 

 

June 30, 2025

 

 

June 30, 2024

 

Capitalized cloud computing implementation costs

 

$

8,464

 

 

$

4,093

 

Less: Accumulated amortization

 

 

(865

)

 

 

—

 

     Capitalized cloud computing implementation costs, net

 

$

7,599

 

 

$

4,093

 

Capitalized cloud computing implementation costs included in prepaid expenses

 

$

1,979

 

 

$

595

 

Activity related to capitalized cloud computing implementation costs was as follows (in thousands):

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

 

2023

 

Additions to capitalized cloud computing implementation costs (1)

 

$

4,371

 

 

$

4,093

 

 

$

—

 

Amortization (2)

 

$

865

 

 

$

—

 

 

$

—

 

(1) Additions to capitalized stock-based compensation expense, which is included in these amounts, was $0.2 million and not material for fiscal years ended June 2024 and 2023, respectively.

(2) Amortization expense related to capitalized stock-based compensation costs, which is included in these amounts was not material for the periods presented.

The Company has not recorded any impairment charges during the periods presented.
v3.25.2
Leases
 12 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Leases

Note 9. Leases

The Company leases the majority of its office space in the U.S., U.K., Netherlands, Ukraine, Germany, Portugal and Singapore under non-cancelable operating lease agreements, which have various expiration dates through November 2030, some of which include options to extend the leases for up to 5 years.

During the fiscal year ended June 30, 2024, the Company amended the lease in Palo Alto, California to extend the existing leased office space for an additional 12 months through August 2025. In June 2025, the Company further amended the lease in Palo Alto to extend the existing leased office space through August 2026. The Company accounts for these lease extensions as lease modifications and recorded an adjustment of $2.5 million and $2.2 million to the operating ROU asset and operating lease liability on the consolidated balance sheets as of June 30, 2025 and 2024, respectively.

As part of the Company’s continuing assessment of its facilities requirements, during the fiscal year ended June 30, 2023, the Company exited a portion of the leased office space in its headquarters in Palo Alto, California and amended the underlying lease agreement to relieve the Company of certain lease payments. As a result, the Company assessed the operating ROU asset associated with the leased office space and deemed it to be impaired. The Company also assessed the lease liability in view of the amended lease agreement. The Company recorded a net charge of $1.6 million in connection with the impairment of the related operating ROU asset and the reassessment of the operating lease liability, which was included on its consolidated statements of operations for the fiscal year ended June 30, 2023.

The components of lease costs were as follows (in thousands):

 

 

Year Ended June 30,

 

Operating Leases:

 

2025

 

 

2024

 

 

2023

 

Operating lease cost (1)

 

$

6,612

 

 

$

6,353

 

 

$

6,113

 

Short-term lease cost

 

 

1,817

 

 

 

1,290

 

 

 

843

 

Variable lease cost

 

 

477

 

 

 

455

 

 

 

—

 

(1) Amount excluded a net charge of $1.6 million related to lease modification and impairment for the fiscal year ended June 30, 2023 as described above.

The weighted-average remaining lease term of the Company’s operating leases and the weighted-average discount rate used to measure the present value of the operating lease liabilities are as follows:

Lease Term and Discount Rate:

 

June 30, 2025

 

 

June 30, 2024

 

Weighted-average remaining lease term (in years)

 

 

4.4

 

 

 

5.3

 

Weighted-average discount rate

 

 

6.8

%

 

 

7.0

%

The following table presents supplemental cash flow information related to the Company’s operating leases (in thousands):

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

Cash payments included in the measurement of operating lease liabilities

 

$

6,847

 

 

$

5,847

 

ROU assets obtained in exchange for new operating lease liabilities

 

 

2,084

 

 

 

8,983

 

Current operating lease liabilities of $6.5 million and $6.0 million were included in other current liabilities on the Company’s consolidated balance sheets as of June 30, 2025 and 2024, respectively.

As of June 30, 2025, remaining maturities of operating lease liabilities are as follows (in thousands):

Fiscal Year Ending June 30,

 

Amount

 

2026

 

$

7,780

 

2027

 

 

4,757

 

2028

 

 

4,632

 

2029

 

 

5,076

 

2030

 

 

3,817

 

2031 and thereafter

 

 

19

 

Total lease payments

 

 

26,081

 

Less: imputed interest

 

 

(3,492

)

Present value of operating lease liabilities

 

$

22,589

 
v3.25.2
Commitments and Contingencies
 12 Months Ended
Jun. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 10. Commitments and Contingencies

Other Purchase Commitments

The Company’s other purchase commitments primarily consist of third-party cloud infrastructure and support services and software subscriptions. Future minimum payments under the Company’s non-cancelable purchase commitments as of June 30, 2025 are as follows (in thousands):

Year ending June 30,

Amount

 

2026

$

6,433

 

2027

 

5,400

 

2028

 

4,051

 

2029

 

1,941

 

2030

 

944

 

2031 and thereafter

 

1,378

 

 

$

20,147

 

In December 2021, the Company entered into an agreement with Microsoft, pursuant to which the Company is committed to spend a minimum of $110.0 million on cloud services. The committed spend period concludes at the end of December 2028, with the Company having the option to extend any remaining commitment into a further 12 month period to the end of December 2029. As of June 30, 2025, the Company had $76.6 million remaining on this commitment.

Litigation

From time to time, the Company is a party to claims, lawsuits, and proceedings which arise in the ordinary course of business. The Company warrants to its clients that it has all necessary rights and licenses to the intellectual property comprised in its products and services and indemnifies those clients against intellectual property claims with respect to such products and services, so such claims, lawsuits and proceedings might in the future include claims of alleged infringement of intellectual property rights. The Company records a liability when it believes that it is probable that a loss will be incurred, and the amount of loss or range of loss can be reasonably estimated. Given the unpredictable nature of legal proceedings, the Company bases its estimate on the information available at the time of the assessment. As additional information becomes available, the Company reassesses the potential liability and may revise the estimate. The Company is not presently a party to any litigation the outcome of which, it believes would individually or in the aggregate have a material adverse effect on the business, operating results, or financial condition.
v3.25.2
Debt
 12 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Debt

Note 11. Debt

On October 5, 2021, the Company entered into a Credit Agreement, as amended on June 6, 2022 and further amended on November 17, 2022 (the “Credit Agreement”) among the Company, the guarantors party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent (“JPMorgan”). The Credit Agreement provides for a five-year, senior secured revolving credit facility of $100.0 million with a sub-facility for letters of credit in the aggregate amount of up to $10.0 million (the “JPMorgan Credit Facility”). The Credit Agreement also provides that the Company may seek additional revolving credit commitments in an aggregate amount not to exceed $50.0 million, subject to certain administrative procedures, including approval by the Administrative Agent. Future borrowings under the JPMorgan Credit Facility will bear interest, at the Company’s election, at an annual rate based on either (a) an adjusted SOFR (as described in the Credit Agreement) plus a percentage spread (ranging from 1.75% to 2.50%) or (b) an alternate base rate (as described in the Credit Agreement) plus a percentage spread (ranging from 0.75% to 1.50%), in each case based on the Company’s total net leverage ratio. In addition, a commitment fee accrues with respect to the unused amount of the JPMorgan Credit Facility at an annual rate ranging from 0.25% to 0.40%, based on the Company’s total net leverage ratio.

In connection with the execution of the Credit Agreement, the Company also entered into a pledge and security agreement (the “Security Agreement”) dated as of October 5, 2021 among the Company, the subsidiary grantors thereto and JPMorgan, as administrative agent for the secured parties. Under the Security Agreement, borrowings under the JPMorgan Credit Facility are secured by a first priority pledge of all of the capital stock and substantially all of the assets (excluding real estate interests) of each subsidiary of the Company and the subsidiary guarantors.

The Credit Agreement provides that the Company must maintain compliance with a maximum consolidated total net leverage ratio covenant, as determined in accordance with the Credit Agreement. It also contains affirmative, negative and financial covenants, including limitations on certain other indebtedness, loans and investments, liens, mergers, asset sales, and transactions with affiliates, as well as customary events of default.

The Company was in compliance with all covenants as of June 30, 2025. As of June 30, 2025, there were no outstanding borrowings under the JPMorgan Credit Facility.
v3.25.2
Stock-Based Compensation
 12 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation

Note 12. Stock-Based Compensation

Equity Incentive Plans

In June 2021, the Company’s Board of Directors adopted, and its stockholders approved, the 2021 Omnibus Incentive Plan (the “2021 Plan”) and the ESPP. The 2021 Plan provides for the grant of restricted shares, RSUs, performance shares, PSUs, deferred share units, share options and share appreciation rights. All employees, non-employee directors and selected third-party service providers of the Company and its subsidiaries and affiliates are eligible to receive grants under the 2021 Plan. Eligible employees may purchase the Company’s common stock under the ESPP.

Both the 2021 Plan and ESPP include a provision to increase the share reserves on July 1 of each year through 2031. On July 1, 2025, 4,491,059 and 898,211 shares were added to the 2021 Plan and ESPP, respectively.

As of June 30, 2025, shares of common stock reserved for future issuance were as follows (in thousands):

 

 

June 30, 2025

 

Stock plans:

 

 

 

Outstanding stock options

 

 

2,628

 

Unvested PSUs and RSUs

 

 

5,316

 

Reserved for ESPP

 

 

3,518

 

Reserved for future stock award grants

 

 

6,818

 

Total shares of common stock reserved for issuance

 

 

18,280

 

 

Stock Awards

The Company has granted time-based and performance-based stock options, RSUs and PSUs, collectively referred to as “Stock Awards.” The Company accounts for stock-based compensation using the fair value method which requires the Company to measure stock-based compensation based on the grant-date fair value of the awards and recognize compensation expense over the requisite service or performance period. Awards that contain only service conditions, are generally earned over four years and expensed on a straight-line basis over that term. Compensation expense for awards that contain performance conditions is calculated using the graded vesting method and the portion of expense recognized in any period may fluctuate depending on changing estimates of the achievement of the performance conditions.

Stock Options

Stock options granted generally become exercisable ratably over a four-year period following the date of grant and expire ten years from the date of grant.

Stock option activity under the Company’s equity incentive plans during the fiscal years ended June 30, 2025 and 2024 was as follows (in thousands, except per share data):

 

 

Number of
Options

 

 

Weighted-
Average
Exercise
Price

 

 

Weighted-
Average
Remaining
Contractual
Term
(in years)

 

 

Aggregate
Intrinsic
Value (1)

 

Balance as of June 30, 2023

 

 

10,137

 

 

$

10.42

 

 

 

5.5

 

 

$

319,250

 

Exercised

 

 

(3,105

)

 

 

9.90

 

 

 

 

 

 

 

Forfeited

 

 

(166

)

 

 

20.70

 

 

 

 

 

 

 

Balance as of June 30, 2024

 

 

6,866

 

 

$

10.40

 

 

 

4.4

 

 

$

180,360

 

Exercised

 

 

(4,212

)

 

 

9.70

 

 

 

 

 

 

 

Forfeited

 

 

(26

)

 

 

21.91

 

 

 

 

 

 

 

Balance as of June 30, 2025

 

 

2,628

 

 

$

11.42

 

 

 

3.8

 

 

$

105,632

 

Vested and exercisable as of June 30, 2025

 

 

2,625

 

 

$

11.40

 

 

 

3.8

 

 

$

105,586

 

Vested and expected to vest as of June 30, 2025

 

 

2,628

 

 

$

11.42

 

 

 

3.8

 

 

$

105,632

 

(1) Aggregate intrinsic value for stock options represents the difference between the exercise price and the per share fair value of the Company’s common stock as of the end of the period, multiplied by the number of stock options outstanding.

 

There were no stock options granted during the fiscal years ended June 30, 2025 and June 30, 2024. The total intrinsic value of stock options exercised during the fiscal years ended June 30, 2025, 2024 and 2023 was $179.9 million, $86.7 million, and $61.3 million, respectively.

During the fiscal years ended June 30, 2025, 2024 and 2023, the proceeds from option exercises totaled $40.8 million, $30.7 million and $23.5 million, respectively.

PSUs and RSUs

During the fiscal year ended June 30, 2025, the Company granted PSUs to certain of its employees with vesting terms based on meeting certain operating performance targets, including annual recurring revenue and consolidated profitability targets, and continued service conditions. The Company also granted RSUs to certain employees that vest based on continued service.

PSU activity during the fiscal years ended June 30, 2025 and 2024 was as follows (in thousands, except per share data):

 

 

Number of Shares

 

 

Weighted-
Average
Grant Date
Fair Value

 

Balance as of June 30, 2023

 

 

3,645

 

 

$

23.43

 

Granted

 

 

1,229

 

 

 

38.82

 

Vested

 

 

(1,911

)

 

 

24.64

 

Forfeited

 

 

(413

)

 

 

26.23

 

Balance as of June 30, 2024

 

 

2,550

 

 

$

29.48

 

Granted

 

 

1,224

 

 

 

40.43

 

Vested

 

 

(1,586

)

 

 

27.18

 

Forfeited

 

 

(178

)

 

 

29.32

 

Balance as of June 30, 2025

 

 

2,010

 

 

$

37.98

 

 

RSU activity during the fiscal years ended June 30, 2025 and 2024 was as follows (in thousands, except per share data):

 

 

Number of Shares

 

 

Weighted-
Average
Grant Date
Fair Value

 

Balance as of June 30, 2023

 

 

2,154

 

 

$

24.46

 

Granted

 

 

1,647

 

 

 

36.39

 

Vested

 

 

(893

)

 

 

26.14

 

Forfeited

 

 

(384

)

 

 

29.72

 

Balance as of June 30, 2024

 

 

2,524

 

 

$

30.84

 

Granted

 

 

2,479

 

 

 

47.20

 

Vested

 

 

(1,338

)

 

 

34.12

 

Forfeited

 

 

(359

)

 

 

35.55

 

Balance as of June 30, 2025

 

 

3,306

 

 

$

41.27

 

Stock-Based Compensation Expense

The Company recorded stock-based compensation expense on the consolidated statements of operations as follows (in thousands):

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

 

2023

 

Cost of revenues

 

 

 

 

 

 

 

 

 

Cost of SaaS

 

$

3,174

 

 

$

1,740

 

 

$

1,329

 

Cost of license

 

 

709

 

 

 

552

 

 

 

376

 

Cost of professional services

 

 

6,026

 

 

 

5,030

 

 

 

3,916

 

Research and development

 

 

24,309

 

 

 

14,854

 

 

 

15,186

 

Sales and marketing

 

 

24,557

 

 

 

17,312

 

 

 

20,426

 

General and administrative

 

 

29,311

 

 

 

20,407

 

 

 

26,536

 

Total stock-based compensation

 

$

88,086

 

 

$

59,895

 

 

$

67,769

 

During the fiscal year ended June 30, 2025, the Company modified the performance conditions related to certain PSU awards, which results in an improbable-to-probable modification with an increase in unrecognized stock-based compensation expense of approximately $14.8 million to be recognized through the remaining requisite service period.

The Company recognized related income tax benefit of $2.5 million, $1.1 million, and $0.7 million for the fiscal years ended June 30, 2025, 2024 and 2023, respectively.

As of June 30, 2025, there was approximately $157.8 million of unrecognized compensation cost related to unvested stock-based awards granted, which is expected to be recognized over the weighted-average period of approximately 2.5 years.

2021 Employee Stock Purchase Plan

Under the ESPP, eligible employees may purchase the Company’s common stock at a price equal to 85% of the lower of the fair market value of the Company’s common stock on the offering date or the applicable purchase date. The ESPP provides an offering period that begins on June 1 and December 1 of each year and each offering period consists of one six-month purchase period. During the fiscal years ended June 30, 2025 and 2024, 112,489 shares and 137,374 shares were purchased under the ESPP, respectively.

The fair value of ESPP shares was estimated using the Black-Scholes option valuation model with the following weighted-average assumptions:

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

 

2023

 

Expected dividend yield

 

 

0

%

 

 

0

%

 

 

0

%

Risk-free interest rate

 

 

4.4

%

 

 

5.4

%

 

 

4.9

%

Expected volatility

 

 

47

%

 

 

46

%

 

 

48

%

Expected term (in years)

 

 

0.5

 

 

 

0.5

 

 

 

0.7

 

As of June 30, 2025, total unrecognized compensation cost related to the ESPP was $0.7 million, which will be amortized over a weighted-average vesting term of 0.4 years.
v3.25.2
Income Taxes
 12 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes

Note 13. Income Taxes

The components of net loss before income taxes are as follows (in thousands):

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

 

2023

 

U.S.

 

$

(30,981

)

 

$

(34,220

)

 

$

(72,871

)

Foreign

 

 

14,843

 

 

 

4,314

 

 

 

2,951

 

Total

 

$

(16,138

)

 

$

(29,906

)

 

$

(69,920

)

The income tax expense (benefit) consists of the following (in thousands):

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

 

2023

 

Current:

 

 

 

 

 

 

 

 

 

Federal

 

$

—

 

 

$

—

 

 

$

(246

)

State

 

 

253

 

 

 

1,307

 

 

 

226

 

Foreign

 

 

1,378

 

 

 

830

 

 

 

437

 

 

 

1,631

 

 

 

2,137

 

 

 

417

 

Deferred:

 

 

 

 

 

 

 

 

 

Federal

 

 

—

 

 

 

—

 

 

 

(154

)

State

 

 

(84

)

 

 

34

 

 

 

(327

)

Foreign

 

 

532

 

 

 

(56

)

 

 

(431

)

 

 

448

 

 

 

(22

)

 

 

(912

)

Income tax expense (benefit)

 

$

2,079

 

 

$

2,115

 

 

$

(495

)

The income tax expense (benefit) differs from the amount computed by applying the statutory federal income tax rate as follows (in thousands):

 

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

 

2023

 

Federal tax expense (benefit):

 

 

 

 

 

 

 

 

 

At statutory rate

 

$

(3,389

)

 

$

(6,280

)

 

$

(14,683

)

State tax (net of federal benefit)

 

 

205

 

 

 

935

 

 

 

192

 

Research and development credits

 

 

(2,890

)

 

 

(2,943

)

 

 

(1,888

)

Stock-based compensation

 

 

(29,058

)

 

 

(9,364

)

 

 

(3,311

)

Acquisition-related transaction costs

 

 

(61

)

 

 

162

 

 

 

254

 

Change in valuation allowance

 

 

37,771

 

 

 

19,448

 

 

 

20,764

 

Other

 

 

(499

)

 

 

157

 

 

 

(1,823

)

Income tax expense (benefit)

 

$

2,079

 

 

$

2,115

 

 

$

(495

)

 

Deferred tax assets and liabilities are as follows (in thousands):

 

 

June 30,

 

 

 

2025

 

 

2024

 

Deferred tax assets:

 

 

 

 

 

 

Nondeductible accrued expenses

 

$

2,614

 

 

$

3,243

 

Net operating loss carryforwards

 

 

47,217

 

 

 

31,153

 

Research and development credits

 

 

13,773

 

 

 

9,551

 

Section 174 capitalization

 

 

74,073

 

 

 

47,930

 

Stock-based compensation

 

 

6,594

 

 

 

7,437

 

Interest carryforwards

 

 

10,828

 

 

 

13,765

 

Deferred revenue

 

 

201

 

 

 

588

 

Other

 

 

36

 

 

 

67

 

Valuation allowance

 

 

(144,693

)

 

 

(100,543

)

Total deferred tax assets

 

 

10,643

 

 

 

13,191

 

Deferred tax liabilities:

 

 

 

 

 

 

Deferred commissions

 

 

(7,133

)

 

 

(6,614

)

Fixed assets

 

 

(4,115

)

 

 

(3,089

)

Intangible assets

 

 

(551

)

 

 

(4,196

)

Total deferred tax liabilities

 

 

(11,799

)

 

 

(13,899

)

Net deferred tax liabilities

 

$

(1,156

)

 

$

(708

)

As of June 30, 2025, the Company has federal and state net operating loss carryforwards of approximately $171.3 million and $188.4 million, respectively, which expire beginning in the year 2034 for federal and 2025 for the state of California.

As of June 30, 2025, the Company has federal and state research credits carryforwards of approximately $15.8 million and $7.3 million, respectively, expiring beginning in 2027 for federal. The state credits can be carried forward indefinitely.

Federal and state tax laws impose substantial restrictions on the utilization, for tax purposes, of net operating loss and credit carryforwards in the event of an ownership change as defined in Section 382 of the Internal Revenue Code. Accordingly, the Company’s ability to utilize these carryforwards may be limited as a result of such ownership change. Such a limitation could result in the expiration of carryforwards before they are utilized.

In assessing the need for a valuation allowance, the Company considered all available evidence both positive and negative, including historical levels of income, legislative developments, expectations and risks associated with estimates of future taxable income, and prudent and feasible tax planning strategies.

As a result of this analysis as of June 30, 2025 and 2024, the Company has determined that it is more likely than not that it will not realize the benefits of its deferred tax assets due to continuing losses, and therefore has recorded a valuation allowance of $144.7 million and $100.5 million, respectively, to reduce the carrying value of its deferred tax assets.

At June 30, 2025, the Company asserts that it will not permanently reinvest its foreign earnings outside the U.S. The Company anticipates that the cash from its foreign earnings may be used to fund operations domestically, settle a portion of the outstanding debt obligations, or used for other business needs. The accumulated undistributed earnings generated by its foreign subsidiaries was approximately $39.0 million. Substantially all of these earnings will not be taxable upon repatriation to the U.S. since under the Tax Cuts and Jobs Act, they will be treated as previously taxed income or benefit from the dividends received deduction. The withholding taxes related to the distributable earnings of the Company’s foreign subsidiaries are not expected to be material.

It is the Company’s policy to recognize interest and penalties related to income tax matters in income tax expense. As of June 30, 2025 and 2024, the Company had no accrued interest and penalties related to uncertain tax positions.

The Company does not anticipate any significant increases or decreases to its unrecognized tax benefits in the next 12 months. There is no applicable lapse of the statute of limitations in the next 12 months.

The Company files income tax returns in the U.S. federal jurisdiction, various state jurisdictions and various foreign jurisdictions. In the normal course of business, the Company is subject to examination by taxing authorities. The Company is not currently under audit by the Internal Revenue Service or other similar tax authorities. The Company's tax returns remain open to examination as follows: U.S. federal and states, all tax years; and significant foreign jurisdictions, generally 2019 through 2024.

The following table summarizes the activity related to the Company’s unrecognized tax benefits (in thousands):

 

 

June 30,

 

 

 

2025

 

 

2024

 

 

2023

 

Beginning of the year, unrecognized tax benefits

 

$

6,876

 

 

$

5,311

 

 

$

3,811

 

Increases, prior year tax positions

 

 

119

 

 

 

173

 

 

 

532

 

Increases, current year tax positions

 

 

1,527

 

 

 

1,392

 

 

 

968

 

End of the year, unrecognized tax benefits

 

$

8,522

 

 

$

6,876

 

 

$

5,311

 

As of June 30, 2025 and 2024, unrecognized tax benefits approximated $8.5 million and $6.9 million, respectively, of which none of the tax benefits would affect the effective tax rate if recognized. There are no interest and penalties accrued as of June 30, 2025.

On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was signed into law, extending key provisions of the 2017 Tax Cuts and Jobs Act including, but not limited to, deductions for domestic research and development expenditures. The Company is currently evaluating OBBBA; however, the Company does not expect OBBBA to have a material impact on the Company’s consolidated financial statements.
v3.25.2
Net Loss Per Share
 12 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Net Loss Per Share

Note 14. Net Loss Per Share

Basic net loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding for the period. Diluted net loss per share is calculated by giving effect to all potentially dilutive securities outstanding for the period using the treasury stock method.

Basic net loss per share is the same as diluted net loss per share because the Company reported net losses for all periods presented. The following table sets forth the computation of basic and diluted net loss per share for the periods presented (in thousands, except per share data):

 

Year Ended June 30,

 

 

2025

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

 

 

Net loss

$

(18,217

)

 

$

(32,021

)

 

$

(69,425

)

Denominator:

 

 

 

 

 

 

 

 

Weighted-average shares used to compute net loss per share, basic and diluted

 

78,710

 

 

 

71,488

 

 

 

64,295

 

Net loss per share, basic and diluted

$

(0.23

)

 

$

(0.45

)

 

$

(1.08

)

The Company excluded the following potential shares of common stock from the calculation of diluted net loss per share because their effect would be anti-dilutive (in thousands):

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

 

2023

 

Outstanding stock options to purchase common stock

 

 

2,628

 

 

 

6,866

 

 

 

10,137

 

Unvested PSUs and RSUs

 

 

5,316

 

 

 

5,137

 

 

 

5,803

 

Shares issuable under ESPP

 

 

57

 

 

 

12

 

 

 

15

 

Total

 

 

8,001

 

 

 

12,015

 

 

 

15,955

 

 
v3.25.2
Stockholders' Equity
 12 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Stockholders' Equity

Note 15. Stockholders’ Equity

Stock Repurchase Program

On August 7, 2025, the Company’s Board of Directors authorized a common stock repurchase program of up to $150.0 million. The Company may purchase shares of its common stock on a discretionary basis from time to time through open market repurchases, privately negotiated transactions or other means, including through Rule 10b5-1 trading plans or through the use of other techniques. The stock repurchase program does not have an expiration date. The timing and number of shares repurchased will depend on a variety of factors, including stock price, trading volume, and general business and market conditions. The repurchase program does not obligate the Company to repurchase any of its common stock or to acquire a specified number of shares and may be modified, suspended or discontinued at any time at the Company’s discretion.

v3.25.2
Employee Benefit Plans
 12 Months Ended
Jun. 30, 2025
Retirement Benefits [Abstract]  
Employee Benefit Plans

Note 16. Employee Benefit Plans

On December 22, 2012, the Company adopted a 401(k) plan (the “401(k) Plan”) for all U.S. employees who have met certain eligibility requirements. Under the 401(k) Plan, employees may elect to contribute up to 100% of their eligible compensation, subject to certain limitations. The Company may make discretionary and matching contributions to the 401(k) Plan. Employees are immediately vested 100% in the Company’s matching contributions. The Company incurred matching expenses of $4.7 million, $4.3 million and $3.8 million for the fiscal years ended June 30, 2025, 2024 and 2023, respectively. The Company also offers pension benefits through company funded employee contributions in the U.K., Australia, Singapore, Germany, Netherlands, Ireland and Canada for employees who have met certain eligibility requirements. The Company incurred employee pension contribution expenses of $2.8 million, $2.4 million and $1.7 million for the fiscal years ended June 30, 2025, 2024 and 2023, respectively.
v3.25.2
Related Party Transactions
 12 Months Ended
Jun. 30, 2025
Related Party Transactions [Abstract]  
Related Party Transactions

Secondary Offerings

In November 2023, the Company completed a secondary offering in which certain existing stockholders sold 5,000,000 shares of common stock at a price of $39.01 per share. In March 2024, the Company completed a separate secondary offering in which certain existing stockholders sold 7,000,000 shares of common stock at a price of $36.27 per share. The Company did not receive any of the proceeds from the sale of the shares by the existing stockholders. In connection with these offerings, the Company incurred costs of $1.1 million for the fiscal year ended June 30, 2024, which was recorded in general and administrative expenses in the consolidated statements of operations.
v3.25.2
Subsequent Events
 12 Months Ended
Jun. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events

Note 18. Subsequent Events

On July 4, 2025, the OBBBA was signed into law, extending key provisions of the 2017 Tax Cuts and Jobs Act including, but not limited to, deductions for domestic research and development expenditures. For further information refer to Note 13. “Income Taxes” in our consolidated financial statements included elsewhere in this Annual Report on Form 10-K.

On August 7, 2025, the Company’s Board of Directors authorized a common stock repurchase program of up to $150.0 million For further information refer to Note 15. “Stockholders’ Equity” in our consolidated financial statements included elsewhere in this Annual Report on Form 10-K.

In August 2025, the Company completed a strategic investment through the purchase of a convertible promissory note in the principal amount of $3.0 million.
v3.25.2
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
Basis of Presentation and Principles of Consolidation

Basis of Presentation and Principles of Consolidation

The consolidated financial statements have been prepared in accordance with GAAP and reflect the consolidated results of operations, financial position, and cash flows of the Company and its consolidated subsidiaries, after eliminating all inter-company transactions and balances.

Certain prior period amounts reported in the consolidated financial statements and notes thereto have been reclassified to conform to the current year presentation. Effective July 1, 2024, the Company adjusted the classification of support services related to subscription license to be included within “license” on the consolidated statements of operations. Prior to July 1, 2024, support services related to subscription license was included in a line item entitled “SaaS and Support.” The presentation of cost of revenues has been conformed to reflect the changes related to the presentation of revenues. Such reclassifications related to the presentation of revenues and cost of revenues did not affect total revenues, operating income, or net income. There was no change to the Company's revenue recognition policy, except for the change in classification noted herein.

Accordingly, effective July 1, 2024, SaaS revenues include subscription fees from clients accessing the Company’s SaaS solutions, premium support services related to SaaS, and updates, if any, to the subscribed service during the subscription term. License revenues include subscription fees from providing clients with the right to functional intellectual property where clients can benefit from the subscription licenses on their own and support services related to the licenses, which entitles clients to receive technical support and software updates, on a when and if available basis. Refer to the Revenue Recognition section in Note 2. “Summary of Significant Accounting Policies.”
Use of Estimates

Use of Estimates

The preparation of the accompanying consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Those estimates and assumptions include, but are not limited to, revenue recognition including determination of the standalone selling price (“SSP”) of the deliverables included in multiple deliverable revenue arrangements; allowance for credit losses; the depreciable lives of long-lived assets including intangible assets; the period of benefits of deferred commissions; the fair value of stock-based awards and estimates on the probability of performance vesting conditions; the fair value of assets acquired and liabilities assumed in business combinations; goodwill and long-lived assets impairment assessment; the fair value of contingent consideration liabilities; the incremental borrowing rate used to determine the operating lease liabilities; valuation allowances on deferred tax assets; fair value of strategic investments; uncertain tax positions; and loss contingencies. The Company evaluates estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ from these estimates, and those differences could be material to the consolidated financial statements.

Segment Information

Segment Information

The Company’s Chief Executive Officer is the Company’s Chief Operating Decision Maker (“CODM”). The CODM reviews financial information presented on a consolidated basis for the purposes of making operating decisions, allocating resources, and evaluating financial performance. As such, the Company has determined that it operates in one operating and reportable segment.

The CODM is regularly provided with expenses related to cost of revenues, including cost of SaaS, license, and professional services, research and development, sales and marketing, and general and administrative at the consolidated level to manage the Company’s operations, which are identified as significant segment expenses. Since the Company operates as a single operating and reportable segment, these significant segment expenses are the costs and expenses presented on the consolidated statements of operations. In addition, the Company has concluded that stock-based compensation disclosed in Note 12. “Stock-based Compensation” and amortization of acquired intangible assets disclosed in Note 5. “Goodwill and Intangible Assets” also qualify as significant segment expenses. Accordingly, the CODM assesses performance and decides how to allocate resources based on consolidated net loss, as reported on the consolidated statements of operations. Consolidated net loss is used to monitor budget versus actual results in assessing the overall profitability of the business and to guide decisions on how to invest in and grow the business. The measure of segment assets is reported on the balance sheet as total consolidated assets. Other segment items which represent segment expenses that are not significant include interest and other income (expense), net and income tax (expense) benefit, which are reflected in the consolidated statements of operations.

The Company’s property and equipment are primarily located in the U.S. Information about geographic revenues is included in Note 3. “Revenues.”
Revenue Recognition

Revenue Recognition

The Company generates revenues from the sale of its SaaS solutions and premium support services related to SaaS, and subscriptions to the Company’s term software applications and support services related to licenses. The Company generates professional services revenues primarily by delivering professional services for the configuration, implementation and upgrade of its solutions.

Revenue is recognized upon the transfer of control of services or to clients in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services or products. The Company applies the following framework to recognize revenues:

•
Identification of the contract, or contracts, with a customer;
•
Identification of the performance obligations in the contract;
•
Determination of the transaction price;
•
Allocation of the transaction price to the performance obligations in the contract; and
•
Recognition of revenues when, or as, the Company satisfies a performance obligation.

The Company records revenues net of applicable sales taxes collected. Sales taxes collected from clients are recorded in other current liabilities in the accompanying consolidated balance sheets and are remitted to state and local taxing jurisdictions based on the filing requirements of each jurisdiction.

SaaS Revenue

SaaS revenues include subscription fees from clients accessing the Company’s SaaS solutions, premium support services related to SaaS, and updates, if any, to the subscribed service during the subscription term. The Company recognizes SaaS revenues ratably over the contract term beginning on the commencement date of each contract, which is the date when the Company’s service is available to its clients. The Company’s contracts with clients typically include a fixed amount of consideration and are generally non-cancelable and without any refund-type provisions. The Company’s SaaS subscriptions are generally sold as annual or multi-year terms with automatic annual renewal provisions on the expiration of the initial term. The initial term of the Company’s SaaS contract is generally one to three years in duration. Contracts with termination for convenience provision in certain multi-year contracts are accounted as an annual contract. Invoice is generally billed in advance on an annual basis for the SaaS and support services upon execution of the initial contract or subsequent renewal.

License Revenue

License revenues include subscription fees from providing clients with the right to functional intellectual property where clients can benefit from the subscription licenses on their own and support services related to the licenses, which entitles clients to receive technical support and software updates, on a when and if available basis. The Company recognizes license revenues related to subscription fees at a point in time when control of the term software application is transferred to the client, which generally occurs at the time of delivery or upon commencement of the renewal term. The Company recognizes license revenues related to support ratably over the term of the support contract which corresponds to the underlying license agreement. Subscription license fees are generally billed in advance on an annual basis over the term of the license arrangement, which is typically non-cancelable.

Professional Services Revenue

Professional services arrangements sold on a time and materials basis are generally invoiced monthly in arrears and revenues are recognized as services are delivered. In instances where professional services arrangements are sold on a fixed price basis, invoicing occurs upon the achievement of project milestones and revenues are recognized over time using an input measure of time incurred to date relative to total estimated time to be incurred at project completion.

Contracts with Multiple Performance Obligations

The Company reviewed and concluded that each of the SaaS subscription, support services, subscription license and professional services noted above are performance obligations that are capable of being distinct. The Company evaluates the terms and conditions included within its client contracts to ensure appropriate revenue recognition, including whether products and services are considered distinct in the context of the contract and therefore should be accounted for separately or combined. For contracts with multiple performance obligations, the transaction price is allocated to the separate performance obligations on a relative SSP basis.

The Company uses historical sales transaction data, market conditions and other observable inputs, to determine the SSP for each distinct performance obligation. The Company’s SSP ranges are reassessed periodically or when facts and circumstances change.
Contract Modifications

Contract Modifications

Contracts may be modified to account for changes in contract scope or price. The Company considers contract modifications to exist when the modification either creates new rights or obligations or changes the existing enforceable rights and obligations of either party. Contract modifications are accounted for prospectively when it results in the promise to deliver additional products and services that are distinct and contract price does not increase by an amount that reflects SSP for the new goods or services.

Contract Balances

Contract Balances

Contract Assets

The Company records contract assets when revenue recognized on a contract exceeds the billings. This generally occurs in multi-year subscription license arrangements where control of the software license is transferred at the inception of the contract, but the client is invoiced annually in advance over the term of the license.

Contract Liabilities

Contract liabilities consist of deferred revenues amounts from invoices related to unsatisfied performance obligation where the Company has the right to invoice in advance of revenue being recognized. Deferred revenue expected to be recognized within twelve months of the balance date is classified as current, while amounts exceeding this period are recorded as noncurrent.
Deferred Commissions

Deferred Commissions

The Company capitalizes commissions earned by its sales team as they are considered incremental and recoverable costs of obtaining a contract with a client. Deferred commissions are amortized over a period of benefits that the Company has determined to be generally four years. The Company determines the period of benefits based on its technology development life cycle, expected client relationship period and other factors. Commissions for renewal contracts are amortized over one year. Deferred commissions are amortized based on the pattern of the associated revenue recognition over the related contract term. Amortization of deferred commissions is included in sales and marketing expense in the consolidated statements of operations. Deferred commissions are reviewed periodically for impairment. Refer to Note 3. “Revenues” for more information.

Deferred Commissions

Deferred commissions were $36.4 million and $32.4 million as of June 30, 2025 and 2024, respectively. Amortization expense with respect to deferred commissions, which is included in sales and marketing expense in the Company’s consolidated statements of operations, was $16.5 million, $14.8 million, and $12.8 million during the fiscal years ended June 30, 2025, 2024 and 2023, respectively. There was no impairment loss in relation to the costs capitalized for the periods presented.
Cost of Revenues

Cost of Revenues

Cost of revenues consists primarily of expenses related to providing SaaS solutions, premium support services related to SaaS, support services related to license and professional services to the Company’s clients, including personnel costs (salaries, bonuses, benefits and stock-based compensation) and related expenses for client support and services personnel, as well as cloud infrastructure costs, third-party expenses, depreciation of fixed assets, amortization of capitalized internal-use software costs and acquired intangible assets, and allocated overhead costs.

Research and Development Costs

Research and Development Costs

Research and development expenses include personnel costs (salaries, bonuses, benefits and stock-based compensation) and related expenses associated with engineering and product development employees, costs of third-party services, cloud infrastructure costs, and allocated overhead costs.

Advertising Costs

Advertising Costs

Advertising costs are expensed as incurred. Advertising expense was $1.6 million, $1.5 million and $1.3 million for fiscal years ended June 30, 2025, 2024 and 2023, respectively.

Stock-Based Compensation

Stock-Based Compensation

Compensation expense related to stock-based awards made to employees, consultants and directors are calculated based on the fair value of stock-based awards on the date of grant. The Company determines the grant date fair value of the restricted stock units based on the closing price of the Company’s common stock on the date of grant. The Company determines the grant date fair value of stock option awards and stock purchase rights under the 2021 Employee Stock Purchase Plan (“ESPP”) using the Black-Scholes option pricing model, which requires the Company to make assumptions and judgments about the variables used in the calculation, including the expected term (weighted-average period of time that the options granted are expected to be outstanding), the volatility of the Company’s common stock, an assumed risk-free interest rate and the expected dividend yield. The Company uses historical experience and future expectations to determine the expected term, and volatility is based on the historical volatilities of the Company's common stock. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option. The Company has never declared or paid any cash dividends on the common stock and does not plan to pay cash dividends on the common stock in the foreseeable future, and, therefore, an expected dividend yield is zero.

The related stock-based compensation for stock option awards and restricted stock units is recognized in the consolidated statements of operations on a straight-line basis, over the period in which a participant is required to provide service in exchange for the stock-based awards, which is generally four years. The Company recognizes compensation expense related to ESPP over the respective offering period, which is 6 months. The Company recognizes forfeitures of stock-based awards as they occur.

The Company has issued performance-based stock options and performance-based stock units that vest based upon continued service through the vesting term and achievement of certain performance conditions established by the Board of Directors for a predetermined period. The Company measures stock-based compensation expense for performance-based stock options based on the estimated grant date fair value determined using the Black-Scholes valuation model. The Company measures the fair value of the performance-based stock units based on the closing price of the Company’s common stock on the date of grant. The Company recognizes compensation expense for such awards in the period in which it becomes probable that the performance target will be achieved. Compensation expense for awards that contain performance conditions is calculated using the graded vesting method and at each reporting period, the Company reassesses the probability of achievement of the performance conditions and any change in expense resulting from an adjustment to estimates is treated as a cumulative catch-up in the period of the adjustment.
Restricted Cash

Restricted Cash

Restricted cash represents amounts held as collateral under certain facility lease agreements.

Cash and Cash Equivalents

Cash and Cash Equivalents

All highly-liquid investments with a remaining maturity of 90 days or less at the time of purchase are considered to be cash equivalents. Cash equivalents consist primarily of investments in institutional money market funds. The fair value of money market funds held was $243.2 million and $78.7 million as of June 30, 2025 and 2024, respectively.
Accounts Receivable and Allowance for Expected Credit Losses

Accounts Receivable and Allowance for Expected Credit Losses

Accounts receivable are recorded at invoiced amounts, net of allowance for expected credit losses for estimated losses resulting from its clients failing to make required payments for subscriptions or services rendered. The Company evaluates the collectability of its accounts receivable based on known collection risks, historical experience, reasonable and supportable forecasts of future economic conditions and management judgment. Sufficiency of the allowance is assessed based upon knowledge of credit-worthiness of the Company’s clients, review of historical receivable and reserves trends and other pertinent information. Actual future losses from uncollectible accounts may differ from these estimates.

Changes in the allowance for expected credit losses are recorded as general and administrative expense in the consolidated statements of operations and were not material for any of the periods presented.
Property and Equipment

Property and Equipment

Property and equipment are stated at cost, less accumulated depreciation and amortization. Construction-in-progress primarily consists of the construction or development of property and equipment that have not yet been placed into service for their intended use. Depreciation and amortization are calculated using the straight-line method over the estimated useful lives of the related assets and commences once the asset is ready to be placed in service. Depreciation on property and equipment, excluding leasehold improvements, ranges from two to seven years. Leasehold improvements are amortized using the straight-line method over the shorter of the estimated useful lives of the respective assets or the remaining lease term. When assets are sold, or otherwise disposed of, the cost and related accumulated depreciation and amortization are removed from the balance sheet and any gain or loss is reflected in operating expenses. Maintenance and repair costs that do not extend the useful life of the assets are expensed as incurred.

Internal-Use Software Costs

Internal-Use Software Costs

Costs related to software acquired, developed, or modified solely to meet the Company’s internal requirements, with no substantive plans to market such software at the time of development, or costs related to development of hosted SaaS products are capitalized during the application development stage. Capitalized internal-use software costs are recorded in Property and equipment, net on the Company’s consolidated balance sheets. Once the products are available for general release, capitalized costs are amortized to cost of revenue related to SaaS in the consolidated statements of operations on a straight-line basis over its estimated useful life, which is generally four years. The Company evaluates the useful lives of these assets on an annual basis and test for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets.

Qualifying implementation costs incurred in cloud computing arrangements incurred during the application development stage are capitalized based on the existing guidance for internal-use software, which is presented as part of the prepaid expenses and other assets based on the term of the associated cloud computing arrangement. The capitalized implementation costs are amortized on a straight-line basis over the term of the associated cloud computing arrangement when the module or component of the cloud computing arrangement is ready for its intended use in the same line item as fees for the associated cloud computing arrangement in the consolidated statements of operations. The Company tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets.

Goodwill and Acquired Intangible Assets

Goodwill and Acquired Intangible Assets

Goodwill represents the excess purchase price over fair value of net tangible and identifiable intangible assets acquired in a business combination. Goodwill is tested for impairment at least annually during the fourth quarter or whenever events or changes in circumstances indicate that the carrying amount of the goodwill may not be recoverable. The Company has determined that it is comprised of one reporting unit for purposes of its annual impairment evaluation. As part of the annual goodwill impairment test, the Company first assesses the qualitative factors to determine whether it is more likely than not that the fair value of the single reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the quantitative goodwill impairment test. If, as a result of its qualitative assessment, it is more likely than not that its fair value is less than its carrying amount, then the quantitative goodwill impairment test will be performed. The quantitative goodwill impairment test identifies goodwill impairment and measures the amount of goodwill impairment loss to be recognized by comparing the fair value of the single reporting unit with its carrying amount. If the fair value exceeds its carrying amount, no further analysis is required; otherwise, any excess of the goodwill carrying amount over the implied fair value is recognized as an impairment loss, and the carrying value of goodwill is written down to fair value.

Intangible assets resulting from the acquisition of entities are estimated by the Company based on the fair value of assets received. Acquired intangible assets consist of client relationships, non-compete agreements, trademarks and trade names, core technology and backlog and are being amortized on a straight-line basis over the useful life with no calculated residual value, which is generally two to seven years. The Company reviews acquired intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable or that the useful life is shorter than what was originally estimated. Recoverability of assets to be held and used is measured by comparing the carrying amount of each asset group to the estimated undiscounted future net cash flows expected to be generated by the asset group over its remaining life. If the carrying amount of the asset group exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying

amount of the asset group exceeds the fair value of the asset group. If the useful life is shorter than originally estimated, the remaining carrying value is amortized over the new shorter useful life.

Impairment Assessment of Long-lived Assets

Impairment Assessment of Long-lived Assets

The Company reviews long-lived assets with finite lives, which include property and equipment, capitalized internal-use software, lease right-of-use (“ROU”) assets and acquired intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable or that the useful life is shorter than what was originally estimated. Recoverability of assets to be held and used is measured by comparing the carrying amount of each asset group to the estimated undiscounted future net cash flows expected to be generated by the asset group over its remaining life. If the carrying amount of the asset group exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset group exceeds the fair value of the asset group. If the useful life is shorter than originally estimated, the remaining carrying value is amortized over the new shorter useful life.
Business Combinations

Business Combinations

Business combinations are accounted for using the acquisition method of accounting, where the Company allocates the fair value of purchase consideration to the tangible assets acquired, liabilities assumed and intangible assets acquired based on best estimates and assumptions. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Such valuations require management to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets include, but are not limited to, revenues and expense forecasts based on trends of historical performance and management’s estimate of future performance from a market participant perspective, and estimated future cash flows discounted using a weighted-average cost of capital. Such estimates are inherently uncertain and subject to refinement. The Company continues to collect information and reevaluate these estimates and assumptions and record any adjustments to the preliminary estimates to goodwill provided that the Company is within the measurement period. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated statements of operations. Expenses incurred in connection with a business combination are expensed as incurred.

Contingent consideration liabilities arising from business combinations are initially measured at fair value on the acquisition date. Each reporting period thereafter, these obligations are revalued and increases or decreases to the fair value are recorded as adjustments to general and administrative expense in the consolidated statements of operations. Gains and losses resulting from exchange rate fluctuation on contingent consideration liabilities denominated in currencies other than U.S. dollars are recognized in interest and other income (expense), net on the consolidated statements of operations.

Strategic Investments

Strategic Investments

Strategic investments consist of equity investments in privately-held companies, which are classified as other assets on the consolidated balance sheets. The Company’s strategic investments do not have readily determinable fair values. These investments are accounted for using the measurement alternative at cost, and the Company adjusts for impairments and observable price changes (orderly transactions for the identical or a similar security from the same issuer) included within interest and other income (expense), net on its consolidated statements of operations as and when it occurs. The measurement alternative election is reassessed each reporting period to determine whether the strategic investments continue to be eligible for this election. The Company assesses investments for impairment whenever events or changes in circumstances indicate that the carrying value of an investment may not be recoverable. Impairment indicators may include, but are not limited to, a significant deterioration in earnings performance, credit rating, asset quality or business outlook or a significant adverse change in the regulatory, economic, or technological environment. If the strategic investments are considered impaired, the Company will record an impairment charge for the amount by which the carrying value exceeds the fair value of the investment. No impairment of strategic investment has been identified during the periods presented. The Company’s maximum loss exposure is limited to the carrying value of these investments.
Fair Value of Financial Instruments

Fair Value of Financial Instruments

The Company applies authoritative guidance for fair value measurements and disclosures for financial assets and liabilities measured on a recurring basis and nonfinancial assets and liabilities. Assets and liabilities recorded at fair value are categorized based upon the level of judgment associated with the inputs used to measure their fair value.

Leases

Leases

The Company leases its office space under non-cancelable operating lease agreements. The Company determines whether an arrangement constitutes a lease and records lease liabilities and ROU assets on its consolidated balance sheets at the lease commencement date. Lease liabilities are measured based on the present value of the total lease payments not yet paid, discounted based on either the rate implicit in the lease or the Company’s incremental borrowing rate, whichever is more readily determinable. Lease liabilities due within 12 months are included within other current liabilities on the Company’s consolidated balance sheets. The incremental borrowing rate is based on an estimate of the Company’s expected senior unsecured borrowing rate based on synthetic credit rating, adjusted for collateralization. ROU assets are measured based on the corresponding lease liability adjusted for (i) payments made to the lessor at or before the lease commencement date, (ii) initial direct costs incurred, and (iii) tenant incentives received, incurred or payable under the lease. Recognition of rent expense begins when the lessor makes the underlying asset available to the Company.

The Company does not assume renewals or early terminations of its leases unless it is reasonably certain to exercise these options at commencement and does not allocate consideration between lease and non-lease components. The Company does not recognize right-of-use assets or lease liabilities for short-term leases, which have a lease term of twelve months or less, and recognize the associated lease payments in the consolidated statements of operations on a straight-line basis over the lease term.

ROU assets are evaluated for impairment whenever events or changes in the circumstances indicate that the carrying amount may not be recoverable.

Foreign Currency

Foreign Currency

The functional currency for all of the Company’s foreign subsidiaries is the U.S. dollar, except Rekoop Ltd., which uses the British pound. The Company translates the foreign functional currency financial statements to U.S. dollars for those entities that do not have U.S. dollars as their functional currency using the exchange rates at the balance sheet date for assets and liabilities, the period average exchange rates for revenues and expenses, and the historical exchange rates for equity transactions. The effects of foreign currency translation adjustments are reflected in stockholders’ equity as a component of accumulated other comprehensive loss.

Foreign currency transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are recorded within interest and other income (expense), net in the consolidated statements of operations.

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss, which is reported in the accompanying consolidated statements of stockholders’ equity, consists of net loss and foreign currency translation adjustments. The Company’s other comprehensive loss consists of changes in the cumulative effect of translation of financial statements of certain wholly owned foreign subsidiaries that do not have U.S. dollars as their functional currency.

Concentrations of Credit Risk and Significant Clients

Concentrations of Credit Risk and Significant Clients

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents and accounts receivable. The Company maintains its cash and cash equivalents with multiple high credit quality financial institutions. The Company is exposed to credit risk for cash and cash equivalents held in financial institutions to the extent that such amounts recorded on the balance sheet are in excess of amounts that are insured by the Federal Deposit Insurance Corporation. The Company has not experienced any such losses.

No client individually accounted for 10% or more of the Company’s revenues for any of the fiscal years ended June 30, 2025, 2024 and 2023. As of June 30, 2025 and 2024, one client individually accounted for 17% and 16% of the Company’s total accounts receivable, respectively.

Income Taxes

Income Taxes

The Company accounts for income taxes using the asset and liability method. Under this method, deferred income tax assets and liabilities are recorded based on the estimated future tax effects of differences between the financial statement and income tax basis of existing assets and liabilities. These differences are measured using the enacted statutory tax rates that are expected to apply to taxable income for the years in which differences are expected to reverse. The Company recognizes the effect on deferred income taxes of a change in tax rates in the period that includes the enactment date. The Company records a valuation allowance to reduce its deferred tax assets to the net amount that it believes is more-likely-than-not to be realized. Management considers all available evidence, both positive and negative, including historical levels of income, expectations and risks associated with estimates of future taxable income and ongoing tax planning strategies in assessing the need for a valuation allowance.

The Company operates in various tax jurisdictions and is subject to audit by various tax authorities. The Company provides for tax contingencies whenever it is deemed probable that a tax asset has been impaired or a tax liability has been incurred for events such as tax claims or changes in tax laws. Tax contingencies are based upon their technical merits, relative tax law, and the specific facts and circumstances as of each reporting period. The Company establishes liabilities or reduce assets for uncertain tax positions when the Company believes certain tax positions are more likely than not of not being sustained if challenged. Changes in facts and circumstances could result in material changes to the amounts recorded for such tax contingencies.

Net Loss Per Share

Net Loss Per Share

The Company’s basic net loss per share is calculated by dividing net loss by the weighted-average number of shares of common stock outstanding for the period, without consideration of potentially dilutive securities. The diluted net loss per share is calculated by giving effect to all potentially dilutive securities outstanding for the period using the treasury stock method or the if-converted method based on the nature of such securities. For periods in which the Company reports net losses, diluted net loss per share is the same as basic net loss per share because potentially dilutive common shares are not assumed to have been issued if their effect is anti-dilutive.

Recently Adopted Accounting Pronouncements

Recently Adopted Accounting Pronouncements

In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting (ASC 280): Improvements to Reportable Segment Disclosures, which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The Company adopted this standard retrospectively for the fiscal year ended June 30, 2025. For further information, refer to the Segment Information section in Note 2. “Summary of Significant Accounting Policies.”

Accounting Pronouncements Not Yet Adopted

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (ASC 740): Improvements to Income Tax Disclosures, which requires additional income tax disclosures to better assess how an entity’s operations, related tax risks, tax planning and operational opportunities affect its tax rate and prospects of future cash flows. This guidance will be effective for the Company’s fiscal year beginning July 1, 2025, and should be applied on a prospective or retrospective basis. The Company expects the adoption to result in additional disclosures only.

In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (ASC 220): Disaggregation of Income Statement Expenses, and in January 2025, the FASB issued ASU No. 2025-01, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date, which clarified the effective date of ASU 2024-03. The guidance requires disclosures, on an annual and interim basis, about specific expense categories presented on the income statement. This guidance will be effective for the Company's fiscal year beginning July 1, 2027 and for interim periods beginning January 1, 2028, and should be applied on either a prospective or retrospective basis. The Company is currently evaluating the impact of the adoption on its consolidated financial statements.

In July 2025, the FASB issued ASU No. 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, which provides a practical expedient for estimating expected credit losses for current accounts receivable and current contract assets to assume that current conditions as of the balance sheet date will persist through the reasonable and supportable forecast period for eligible assets. This guidance will be effective for the Company’s interim and annual reporting periods beginning July 1, 2026, and should be applied on a prospective basis. Early adoption is permitted. The Company is currently evaluating the impact of the adoption on its consolidated financial statements.

Remaining Performance Obligations

Remaining Performance Obligations

Remaining performance obligations represent non-cancelable contracted revenues that have not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as revenues in future periods. SaaS subscription is typically satisfied over one to three years, license is typically satisfied at a point in time, support services are generally satisfied within one year, and professional services are typically satisfied within one year. Professional services contracts are not included in the performance obligations amount.

As of June 30, 2025, approximately $719.7 million of revenues is expected to be recognized from remaining performance obligations with approximately 54% over the next 12 months and the remainder thereafter.

v3.25.2
Revenues (Tables)
 12 Months Ended
Jun. 30, 2025
Revenue Recognition [Abstract]  
Summary of Revenues by Geography

Revenues by geography were as follows (in thousands):

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

 

2023

 

U.S.

 

$

339,030

 

 

$

292,009

 

 

$

243,237

 

U.K.

 

 

79,089

 

 

 

64,199

 

 

 

54,326

 

Rest of the world

 

 

86,001

 

 

 

74,315

 

 

 

53,310

 

Total

 

$

504,120

 

 

$

430,523

 

 

$

350,873

 
Summary of Contract Assets and Liabilities

The Company’s contract assets and liabilities were as follows (in thousands):

 

 

 

June 30, 2025

 

 

June 30, 2024

 

Unbilled accounts receivable(1)

 

$

19,519

 

 

$

13,363

 

Deferred revenue, net

 

 

258,996

 

 

 

222,486

 

 

(1) The long-term portion of $57 thousand and $63 thousand as of June 30, 2025 and 2024, respectively, is included in other assets on the consolidated balance sheets.
v3.25.2
Business Combinations (Tables)
 12 Months Ended
Jun. 30, 2025
TermSheet  
Summary of Allocation of Consideration To Fair Value of Assets Acquired And Liabilities Assumed

The following table summarizes the preliminary allocation of the consideration to the fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands):

 

 

Amount

 

Cash paid

 

$

51,023

 

Fair value of equity consideration

 

 

384

 

Total purchase consideration

 

 

51,407

 

Goodwill

 

 

39,586

 

Client relationships

 

 

3,180

 

Trademarks and trade names

 

 

22

 

Core technology

 

 

9,030

 

Backlog

 

 

27

 

Net liabilities acquired

 

 

(438

)

Total

 

$

51,407

 
delphai  
Summary of Allocation of Consideration To Fair Value of Assets Acquired And Liabilities Assumed

The following table summarizes the allocation of the consideration to the fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands):

 

 

Amount

 

Cash paid

 

$

11,818

 

Holdback

 

 

1,691

 

Total purchase consideration

 

 

13,509

 

Goodwill

 

 

5,433

 

Core technology

 

 

6,800

 

Net assets acquired (inclusive of deferred tax assets of $253)

 

 

1,276

 

Total

 

$

13,509

 
TDI  
Summary of Allocation of Consideration To Fair Value of Assets Acquired And Liabilities Assumed

The following table summarizes the allocation of the consideration to the fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands):

 

 

Amount

 

Cash paid

 

$

2,149

 

Deferred consideration

 

 

1,262

 

Fair value of contingent consideration

 

 

99

 

Total purchase consideration

 

 

3,510

 

Goodwill

 

 

1,639

 

Core technology

 

 

1,265

 

Net assets acquired (inclusive of deferred tax liabilities of $240)

 

 

606

 

Total

 

$

3,510

 
Paragon  
Summary of Allocation of Consideration To Fair Value of Assets Acquired And Liabilities Assumed

The following table summarizes the allocation of the consideration to the fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands):

 

 

Amount

 

Cash and stock paid

 

$

7,587

 

Deferred consideration

 

 

565

 

Cash and stock holdbacks

 

 

1,223

 

Fair value of contingent consideration

 

 

4,317

 

Total purchase consideration

 

 

13,692

 

Goodwill

 

 

8,669

 

Non-compete agreement

 

 

500

 

Core technology

 

 

3,300

 

Client relationships

 

 

1,300

 

Backlog

 

 

500

 

Net liabilities acquired (inclusive of deferred tax liabilities of $186)

 

 

(577

)

Total

 

$

13,692

 
Billstream  
Summary of Allocation of Consideration To Fair Value of Assets Acquired And Liabilities Assumed

The following table summarizes the allocation of the consideration to the fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands):

 

 

Amount

 

Cash paid

 

$

2,500

 

Deferred consideration

 

 

10,390

 

Holdback

 

 

1,500

 

Fair value of contingent consideration

 

 

4,126

 

Total purchase consideration

 

 

18,516

 

Goodwill

 

 

7,974

 

Non-compete agreement

 

 

300

 

Core technology

 

 

2,200

 

Client relationships

 

 

6,600

 

Backlog

 

 

500

 

Net assets acquired

 

 

942

 

Total

 

$

18,516

 
v3.25.2
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Carrying Amounts of Goodwill

Changes in the carrying amounts of goodwill were as follows (in thousands):

 

 

Carrying Amount

 

Balance as of June 30, 2023

 

$

278,890

 

Goodwill acquired during the period

 

 

7,072

 

Foreign currency translation adjustment

 

 

7

 

Balance as of June 30, 2024

 

$

285,969

 

Goodwill acquired during the period

 

 

39,586

 

Foreign currency translation adjustment

 

 

705

 

Balance as of June 30, 2025

 

$

326,260

 
Schedule of Intangible Assets Amortized on Straight Line Basis

Intangible assets acquired through business combinations consisted of the following (in thousands):

 

 

June 30, 2025

 

 

 

Useful Life
(In years)

 

Gross Carrying Amount

 

 

Accumulated
Amortization

 

 

Net Carrying Amount

 

Client relationships

 

9 to 15

 

$

52,080

 

 

$

(33,004

)

 

$

19,076

 

Non-compete agreements

 

3 to 5

 

 

4,907

 

 

 

(4,651

)

 

 

256

 

Trademarks and trade names

 

Indefinite

 

 

4,683

 

 

 

—

 

 

 

4,683

 

Trademarks and trade names

 

5 to 10

 

 

7,844

 

 

 

(6,199

)

 

 

1,645

 

Core technology

 

2 to 7

 

 

69,614

 

 

 

(54,595

)

 

 

15,019

 

Backlog

 

2

 

 

1,027

 

 

 

(1,007

)

 

 

20

 

Intangible assets, net

 

 

 

$

140,155

 

 

$

(99,456

)

 

$

40,699

 

 

 

 

June 30, 2024

 

 

 

Useful Life
(In years)

 

Gross Carrying Amount

 

 

Accumulated
Amortization

 

 

Net Carrying Amount

 

Client relationships

 

9 to 15

 

$

48,900

 

 

$

(28,949

)

 

$

19,951

 

Non-compete agreements

 

3 to 5

 

 

4,907

 

 

 

(4,035

)

 

 

872

 

Trademarks and trade names

 

Indefinite

 

 

4,683

 

 

 

—

 

 

 

4,683

 

Trademarks and trade names

 

5 to 10

 

 

7,822

 

 

 

(5,773

)

 

 

2,049

 

Core technology

 

2 to 7

 

 

60,584

 

 

 

(48,054

)

 

 

12,530

 

Backlog

 

2

 

 

1,000

 

 

 

(792

)

 

 

208

 

Intangible assets, net

 

 

 

$

127,896

 

 

$

(87,603

)

 

$

40,293

 
Schedule of Amortization Expense Related to Acquired Intangible Assets

Amortization expense related to acquired intangible assets was recognized as follows (in thousands):

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

 

2023

 

Cost of SaaS

 

$

6,541

 

 

$

4,778

 

 

$

4,340

 

Sales and marketing

 

 

4,696

 

 

 

5,599

 

 

 

5,921

 

General and administrative

 

 

616

 

 

 

652

 

 

 

512

 

Total amortization expense

 

$

11,853

 

 

$

11,029

 

 

$

10,773

 
Schedule of Estimated Future Amortization Expense for Acquired Intangible Assets

As of June 30, 2025, the estimated future amortization expense for acquired intangible assets is as follows (in thousands):

Fiscal Year Ending June 30,

 

Amount

 

2026

 

$

10,583

 

2027

 

 

7,832

 

2028

 

 

7,335

 

2029

 

 

5,400

 

2030

 

 

2,295

 

2031 and thereafter

 

 

2,571

 

Total remaining amortization

 

$

36,016

 
v3.25.2
Fair Value Measurements (Tables)
 12 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Summary of Financial Assets Measured at Fair Value on Recurring Basis

The following table sets forth the Company’s financial assets that were measured at fair value on a recurring basis as of the date indicated by level within the fair value hierarchy (in thousands):

 

 

June 30, 2025

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

243,232

 

 

$

—

 

 

$

—

 

 

$

243,232

 

Total financial assets

 

$

243,232

 

 

$

—

 

 

$

—

 

 

$

243,232

 

 

 

 

June 30, 2024

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

78,677

 

 

$

—

 

 

$

—

 

 

$

78,677

 

Total financial assets

 

$

78,677

 

 

$

—

 

 

$

—

 

 

$

78,677

 
Summary of Financial Liabilities Measured at Fair Value on Recurring Basis

The following tables set forth the Company’s financial liabilities that were measured at fair value on a recurring basis as of the dates indicated by level within the fair value hierarchy (in thousands):

 

 

June 30, 2025

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Liability for contingent consideration, noncurrent portion

 

$

—

 

 

$

—

 

 

$

86

 

 

$

86

 

Total financial liabilities

 

$

—

 

 

$

—

 

 

$

86

 

 

$

86

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2024

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Liability for contingent consideration, current portion

 

$

—

 

 

$

—

 

 

$

2,405

 

 

$

2,405

 

Liability for contingent consideration, noncurrent portion

 

$

—

 

 

$

—

 

 

$

153

 

 

$

153

 

Total financial liabilities

 

$

—

 

 

$

—

 

 

$

2,558

 

 

$

2,558

 
Schedule of Changes in Fair Value of Contingent Consideration Liabilities

Changes in contingent consideration liabilities were as follows (in thousands):

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

Balance, beginning of period

 

$

2,558

 

 

$

6,681

 

Contingent consideration accrued at acquisition

 

 

—

 

 

 

152

 

Payment of contingent consideration

 

 

(1,401

)

 

 

(985

)

Change of contingent consideration

 

 

(1,027

)

 

 

(3,290

)

Effect of foreign currency exchange rate changes

 

 

(44

)

 

 

—

 

Balance, end of period

 

$

86

 

 

$

2,558

 
v3.25.2
Property and Equipment (Tables)
 12 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
Summary of Property and Equipment

Property and equipment, net, consisted of the following (in thousands):

 

 

June 30, 2025

 

 

June 30, 2024

 

Computer equipment and software

 

$

4,921

 

 

$

3,691

 

Capitalized internal-use software

 

 

31,564

 

 

 

23,701

 

Furniture and office equipment

 

 

2,459

 

 

 

2,403

 

Leasehold improvements

 

 

6,543

 

 

 

5,601

 

Construction in progress

 

 

—

 

 

 

163

 

     Total property and equipment

 

 

45,487

 

 

 

35,559

 

Less: accumulated depreciation and amortization

 

 

(22,330

)

 

 

(16,615

)

     Property and equipment, net

 

$

23,157

 

 

$

18,944

 
v3.25.2
Internal-Use Software Costs (Tables)
 12 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
Summary of Capitalized Internal-Use Software Costs

Capitalized internal-use software costs, net consisted of the following (in thousands):

 

 

June 30, 2025

 

 

June 30, 2024

 

Capitalized internal-use software costs

 

$

31,564

 

 

$

23,701

 

Less: Accumulated amortization

 

 

(13,958

)

 

 

(10,232

)

     Capitalized internal-use software costs, net

 

$

17,606

 

 

$

13,469

 
Summary of Activity Related to Capitalized Internal-Use Software Costs

Activity related to capitalized internal-use software costs was as follows (in thousands):

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

 

2023

 

Additions to capitalized internal-use software (1)

 

$

8,085

 

 

$

6,723

 

 

$

5,902

 

Amortization (2)

 

$

3,726

 

 

$

3,597

 

 

$

2,874

 

(1) Additions to capitalized stock-based compensation costs, which is included in these amounts, was $0.5 million during the fiscal year ended June 30, 2025 and not material during the fiscal years ended June 2024 and 2023, respectively.

(2) Amortization expense related to capitalized stock-based compensation costs, which is included in these amounts was not material for the periods presented.
Summary of Capitalized Cloud Computing Implementation Costs

Capitalized cloud computing implementation costs, net consisted of the following (in thousands):

 

 

June 30, 2025

 

 

June 30, 2024

 

Capitalized cloud computing implementation costs

 

$

8,464

 

 

$

4,093

 

Less: Accumulated amortization

 

 

(865

)

 

 

—

 

     Capitalized cloud computing implementation costs, net

 

$

7,599

 

 

$

4,093

 

Capitalized cloud computing implementation costs included in prepaid expenses

 

$

1,979

 

 

$

595

 
Summary of Activity Related to Capitalized Cloud Computing Implementation Costs

Activity related to capitalized cloud computing implementation costs was as follows (in thousands):

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

 

2023

 

Additions to capitalized cloud computing implementation costs (1)

 

$

4,371

 

 

$

4,093

 

 

$

—

 

Amortization (2)

 

$

865

 

 

$

—

 

 

$

—

 

(1) Additions to capitalized stock-based compensation expense, which is included in these amounts, was $0.2 million and not material for fiscal years ended June 2024 and 2023, respectively.

(2) Amortization expense related to capitalized stock-based compensation costs, which is included in these amounts was not material for the periods presented.
v3.25.2
Leases (Tables)
 12 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Schedule of Components of Lease Costs

The components of lease costs were as follows (in thousands):

 

 

Year Ended June 30,

 

Operating Leases:

 

2025

 

 

2024

 

 

2023

 

Operating lease cost (1)

 

$

6,612

 

 

$

6,353

 

 

$

6,113

 

Short-term lease cost

 

 

1,817

 

 

 

1,290

 

 

 

843

 

Variable lease cost

 

 

477

 

 

 

455

 

 

 

—

 

(1) Amount excluded a net charge of $1.6 million related to lease modification and impairment for the fiscal year ended June 30, 2023 as described above.

Schedule of Weighted Average Operating Leases Term and Discount Rate

The weighted-average remaining lease term of the Company’s operating leases and the weighted-average discount rate used to measure the present value of the operating lease liabilities are as follows:

Lease Term and Discount Rate:

 

June 30, 2025

 

 

June 30, 2024

 

Weighted-average remaining lease term (in years)

 

 

4.4

 

 

 

5.3

 

Weighted-average discount rate

 

 

6.8

%

 

 

7.0

%
Schedule of Supplemental Cash Flow Information Related to Operating Leases

The following table presents supplemental cash flow information related to the Company’s operating leases (in thousands):

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

Cash payments included in the measurement of operating lease liabilities

 

$

6,847

 

 

$

5,847

 

ROU assets obtained in exchange for new operating lease liabilities

 

 

2,084

 

 

 

8,983

 
Schedule of Remaining Maturities of Operating Lease Liabilities And Future Minimum Lease Payments

As of June 30, 2025, remaining maturities of operating lease liabilities are as follows (in thousands):

Fiscal Year Ending June 30,

 

Amount

 

2026

 

$

7,780

 

2027

 

 

4,757

 

2028

 

 

4,632

 

2029

 

 

5,076

 

2030

 

 

3,817

 

2031 and thereafter

 

 

19

 

Total lease payments

 

 

26,081

 

Less: imputed interest

 

 

(3,492

)

Present value of operating lease liabilities

 

$

22,589

 
v3.25.2
Commitments and Contingencies (Tables)
 12 Months Ended
Jun. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Future Minimum Payments under Non-Cancelable Purchase Commitments

The Company’s other purchase commitments primarily consist of third-party cloud infrastructure and support services and software subscriptions. Future minimum payments under the Company’s non-cancelable purchase commitments as of June 30, 2025 are as follows (in thousands):

Year ending June 30,

Amount

 

2026

$

6,433

 

2027

 

5,400

 

2028

 

4,051

 

2029

 

1,941

 

2030

 

944

 

2031 and thereafter

 

1,378

 

 

$

20,147

 
v3.25.2
Stock-Based Compensation (Tables)
 12 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Shares of Common Stock Reserved for Future Issuance

As of June 30, 2025, shares of common stock reserved for future issuance were as follows (in thousands):

 

 

June 30, 2025

 

Stock plans:

 

 

 

Outstanding stock options

 

 

2,628

 

Unvested PSUs and RSUs

 

 

5,316

 

Reserved for ESPP

 

 

3,518

 

Reserved for future stock award grants

 

 

6,818

 

Total shares of common stock reserved for issuance

 

 

18,280

 
Summary of Stock Option Activity

Stock option activity under the Company’s equity incentive plans during the fiscal years ended June 30, 2025 and 2024 was as follows (in thousands, except per share data):

 

 

Number of
Options

 

 

Weighted-
Average
Exercise
Price

 

 

Weighted-
Average
Remaining
Contractual
Term
(in years)

 

 

Aggregate
Intrinsic
Value (1)

 

Balance as of June 30, 2023

 

 

10,137

 

 

$

10.42

 

 

 

5.5

 

 

$

319,250

 

Exercised

 

 

(3,105

)

 

 

9.90

 

 

 

 

 

 

 

Forfeited

 

 

(166

)

 

 

20.70

 

 

 

 

 

 

 

Balance as of June 30, 2024

 

 

6,866

 

 

$

10.40

 

 

 

4.4

 

 

$

180,360

 

Exercised

 

 

(4,212

)

 

 

9.70

 

 

 

 

 

 

 

Forfeited

 

 

(26

)

 

 

21.91

 

 

 

 

 

 

 

Balance as of June 30, 2025

 

 

2,628

 

 

$

11.42

 

 

 

3.8

 

 

$

105,632

 

Vested and exercisable as of June 30, 2025

 

 

2,625

 

 

$

11.40

 

 

 

3.8

 

 

$

105,586

 

Vested and expected to vest as of June 30, 2025

 

 

2,628

 

 

$

11.42

 

 

 

3.8

 

 

$

105,632

 

(1) Aggregate intrinsic value for stock options represents the difference between the exercise price and the per share fair value of the Company’s common stock as of the end of the period, multiplied by the number of stock options outstanding.
Schedule of PSU Activity

PSU activity during the fiscal years ended June 30, 2025 and 2024 was as follows (in thousands, except per share data):

 

 

Number of Shares

 

 

Weighted-
Average
Grant Date
Fair Value

 

Balance as of June 30, 2023

 

 

3,645

 

 

$

23.43

 

Granted

 

 

1,229

 

 

 

38.82

 

Vested

 

 

(1,911

)

 

 

24.64

 

Forfeited

 

 

(413

)

 

 

26.23

 

Balance as of June 30, 2024

 

 

2,550

 

 

$

29.48

 

Granted

 

 

1,224

 

 

 

40.43

 

Vested

 

 

(1,586

)

 

 

27.18

 

Forfeited

 

 

(178

)

 

 

29.32

 

Balance as of June 30, 2025

 

 

2,010

 

 

$

37.98

 

 
Schedule of RSU Activity

RSU activity during the fiscal years ended June 30, 2025 and 2024 was as follows (in thousands, except per share data):

 

 

Number of Shares

 

 

Weighted-
Average
Grant Date
Fair Value

 

Balance as of June 30, 2023

 

 

2,154

 

 

$

24.46

 

Granted

 

 

1,647

 

 

 

36.39

 

Vested

 

 

(893

)

 

 

26.14

 

Forfeited

 

 

(384

)

 

 

29.72

 

Balance as of June 30, 2024

 

 

2,524

 

 

$

30.84

 

Granted

 

 

2,479

 

 

 

47.20

 

Vested

 

 

(1,338

)

 

 

34.12

 

Forfeited

 

 

(359

)

 

 

35.55

 

Balance as of June 30, 2025

 

 

3,306

 

 

$

41.27

 
Summary of Stock-Based Compensation Expense

The Company recorded stock-based compensation expense on the consolidated statements of operations as follows (in thousands):

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

 

2023

 

Cost of revenues

 

 

 

 

 

 

 

 

 

Cost of SaaS

 

$

3,174

 

 

$

1,740

 

 

$

1,329

 

Cost of license

 

 

709

 

 

 

552

 

 

 

376

 

Cost of professional services

 

 

6,026

 

 

 

5,030

 

 

 

3,916

 

Research and development

 

 

24,309

 

 

 

14,854

 

 

 

15,186

 

Sales and marketing

 

 

24,557

 

 

 

17,312

 

 

 

20,426

 

General and administrative

 

 

29,311

 

 

 

20,407

 

 

 

26,536

 

Total stock-based compensation

 

$

88,086

 

 

$

59,895

 

 

$

67,769

 
Summary of Fair Value of ESPP Shares with Weighted-Average Assumptions

The fair value of ESPP shares was estimated using the Black-Scholes option valuation model with the following weighted-average assumptions:

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

 

2023

 

Expected dividend yield

 

 

0

%

 

 

0

%

 

 

0

%

Risk-free interest rate

 

 

4.4

%

 

 

5.4

%

 

 

4.9

%

Expected volatility

 

 

47

%

 

 

46

%

 

 

48

%

Expected term (in years)

 

 

0.5

 

 

 

0.5

 

 

 

0.7

 
v3.25.2
Income Taxes (Tables)
 12 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Components of Loss Before Income Taxes

The components of net loss before income taxes are as follows (in thousands):

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

 

2023

 

U.S.

 

$

(30,981

)

 

$

(34,220

)

 

$

(72,871

)

Foreign

 

 

14,843

 

 

 

4,314

 

 

 

2,951

 

Total

 

$

(16,138

)

 

$

(29,906

)

 

$

(69,920

)
Schedule of Income Tax Expense (Benefit)

The income tax expense (benefit) consists of the following (in thousands):

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

 

2023

 

Current:

 

 

 

 

 

 

 

 

 

Federal

 

$

—

 

 

$

—

 

 

$

(246

)

State

 

 

253

 

 

 

1,307

 

 

 

226

 

Foreign

 

 

1,378

 

 

 

830

 

 

 

437

 

 

 

1,631

 

 

 

2,137

 

 

 

417

 

Deferred:

 

 

 

 

 

 

 

 

 

Federal

 

 

—

 

 

 

—

 

 

 

(154

)

State

 

 

(84

)

 

 

34

 

 

 

(327

)

Foreign

 

 

532

 

 

 

(56

)

 

 

(431

)

 

 

448

 

 

 

(22

)

 

 

(912

)

Income tax expense (benefit)

 

$

2,079

 

 

$

2,115

 

 

$

(495

)
Schedule of Statutory Federal Income Tax Rate

The income tax expense (benefit) differs from the amount computed by applying the statutory federal income tax rate as follows (in thousands):

 

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

 

2023

 

Federal tax expense (benefit):

 

 

 

 

 

 

 

 

 

At statutory rate

 

$

(3,389

)

 

$

(6,280

)

 

$

(14,683

)

State tax (net of federal benefit)

 

 

205

 

 

 

935

 

 

 

192

 

Research and development credits

 

 

(2,890

)

 

 

(2,943

)

 

 

(1,888

)

Stock-based compensation

 

 

(29,058

)

 

 

(9,364

)

 

 

(3,311

)

Acquisition-related transaction costs

 

 

(61

)

 

 

162

 

 

 

254

 

Change in valuation allowance

 

 

37,771

 

 

 

19,448

 

 

 

20,764

 

Other

 

 

(499

)

 

 

157

 

 

 

(1,823

)

Income tax expense (benefit)

 

$

2,079

 

 

$

2,115

 

 

$

(495

)

 
Significant Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities are as follows (in thousands):

 

 

June 30,

 

 

 

2025

 

 

2024

 

Deferred tax assets:

 

 

 

 

 

 

Nondeductible accrued expenses

 

$

2,614

 

 

$

3,243

 

Net operating loss carryforwards

 

 

47,217

 

 

 

31,153

 

Research and development credits

 

 

13,773

 

 

 

9,551

 

Section 174 capitalization

 

 

74,073

 

 

 

47,930

 

Stock-based compensation

 

 

6,594

 

 

 

7,437

 

Interest carryforwards

 

 

10,828

 

 

 

13,765

 

Deferred revenue

 

 

201

 

 

 

588

 

Other

 

 

36

 

 

 

67

 

Valuation allowance

 

 

(144,693

)

 

 

(100,543

)

Total deferred tax assets

 

 

10,643

 

 

 

13,191

 

Deferred tax liabilities:

 

 

 

 

 

 

Deferred commissions

 

 

(7,133

)

 

 

(6,614

)

Fixed assets

 

 

(4,115

)

 

 

(3,089

)

Intangible assets

 

 

(551

)

 

 

(4,196

)

Total deferred tax liabilities

 

 

(11,799

)

 

 

(13,899

)

Net deferred tax liabilities

 

$

(1,156

)

 

$

(708

)
Summary of Unrecognized Tax Benefits

The following table summarizes the activity related to the Company’s unrecognized tax benefits (in thousands):

 

 

June 30,

 

 

 

2025

 

 

2024

 

 

2023

 

Beginning of the year, unrecognized tax benefits

 

$

6,876

 

 

$

5,311

 

 

$

3,811

 

Increases, prior year tax positions

 

 

119

 

 

 

173

 

 

 

532

 

Increases, current year tax positions

 

 

1,527

 

 

 

1,392

 

 

 

968

 

End of the year, unrecognized tax benefits

 

$

8,522

 

 

$

6,876

 

 

$

5,311

 
v3.25.2
Net Loss Per Share (Tables)
 12 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Net Loss Per Share The following table sets forth the computation of basic and diluted net loss per share for the periods presented (in thousands, except per share data):

 

Year Ended June 30,

 

 

2025

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

 

 

Net loss

$

(18,217

)

 

$

(32,021

)

 

$

(69,425

)

Denominator:

 

 

 

 

 

 

 

 

Weighted-average shares used to compute net loss per share, basic and diluted

 

78,710

 

 

 

71,488

 

 

 

64,295

 

Net loss per share, basic and diluted

$

(0.23

)

 

$

(0.45

)

 

$

(1.08

)
Schedule of Anti-dilutive Securities Excluded from Computation of Net Loss Per Share Attributable to Common Stockholders

The Company excluded the following potential shares of common stock from the calculation of diluted net loss per share because their effect would be anti-dilutive (in thousands):

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

 

2023

 

Outstanding stock options to purchase common stock

 

 

2,628

 

 

 

6,866

 

 

 

10,137

 

Unvested PSUs and RSUs

 

 

5,316

 

 

 

5,137

 

 

 

5,803

 

Shares issuable under ESPP

 

 

57

 

 

 

12

 

 

 

15

 

Total

 

 

8,001

 

 

 

12,015

 

 

 

15,955

 

 
v3.25.2
Summary of Significant Accounting Policies - Additional Information (Details)
 12 Months Ended
Jun. 30, 2025
USD ($)
Unit
Segment
Client
Jun. 30, 2024
USD ($)
Client
Jun. 30, 2023
USD ($)
Client
Summary Of Accounting Policies [Line Items]      
Number of operating segments | Segment 1    
Number of reportable segments | Segment 1    
Segment Reporting, CODM, Profit (Loss) Measure, How Used, Description The Company’s Chief Executive Officer is the Company’s Chief Operating Decision Maker (“CODM”). The CODM reviews financial information presented on a consolidated basis for the purposes of making operating decisions, allocating resources, and evaluating financial performance.    
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration] srt:ChiefExecutiveOfficerMember    
Deferred commissions amortization period 4 years    
Commissions for renewal contract, amortized period 1 year    
Advertising expense $ 1,600,000 $ 1,500,000 $ 1,300,000
Expected dividend yield 0.00%    
Stock-based compensation recognized on a straight-line basis over period 4 years    
Capitalized internal-use software estimated useful life 4 years    
Number of reporting units | Unit 1    
Impairment of goodwill $ 0 0 $ 0
Residual value of intangible assets 0    
Impairment of strategic investment 0    
Money Market Funds      
Summary Of Accounting Policies [Line Items]      
Fair Value $ 243,200,000 $ 78,700,000  
ASU 2023-07      
Summary Of Accounting Policies [Line Items]      
Change in Accounting Principle, Accounting Standards Update, Adopted [true false] true    
Change in Accounting Principle, Accounting Standards Update, Adoption Date Jun. 30, 2025    
Customer Concentration Risk | Revenues      
Summary Of Accounting Policies [Line Items]      
Number of client individually accounted for 10% or more | Client 0 0 0
Customer Concentration Risk | Accounts Receivable      
Summary Of Accounting Policies [Line Items]      
Number of client individually accounted for 10% or more | Client 1 1  
Customer Concentration Risk | Accounts Receivable | Significant Customer      
Summary Of Accounting Policies [Line Items]      
Concentrations of credit risk percentage 17.00% 16.00%  
ESPP      
Summary Of Accounting Policies [Line Items]      
Expected dividend yield 0.00% 0.00% 0.00%
Stock-based compensation for stock option awards recognition period 6 months    
Minimum      
Summary Of Accounting Policies [Line Items]      
Depreciation on property and equipment, excluding leasehold improvements 2 years    
Finite lived intangible asset useful life 2 years    
Minimum | SaaS and Support      
Summary Of Accounting Policies [Line Items]      
Subscription arrangements term 1 year    
Maximum      
Summary Of Accounting Policies [Line Items]      
Depreciation on property and equipment, excluding leasehold improvements 7 years    
Finite lived intangible asset useful life 7 years    
Maximum | SaaS and Support      
Summary Of Accounting Policies [Line Items]      
Subscription arrangements term 3 years    
v3.25.2
Revenues - Summary of Revenues by Geography (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Disaggregation Of Revenue [Line Items]      
Total revenues $ 504,120 $ 430,523 $ 350,873
U.S.      
Disaggregation Of Revenue [Line Items]      
Total revenues 339,030 292,009 243,237
U.K.      
Disaggregation Of Revenue [Line Items]      
Total revenues 79,089 64,199 54,326
Rest of the World      
Disaggregation Of Revenue [Line Items]      
Total revenues $ 86,001 $ 74,315 $ 53,310
v3.25.2
Revenues - Additional Information (Details)
 12 Months Ended
Jun. 30, 2025
USD ($)
Country
Jun. 30, 2024
USD ($)
Country
Jun. 30, 2023
USD ($)
Country
Disaggregation Of Revenue [Line Items]      
Deferred commissions $ 36,400,000 $ 32,400,000  
Impairment loss in relation to capitalized costs 0 0 $ 0
Allowance for doubtful accounts associated with unbilled receivables 0 0  
Revenue recognized pertaining to deferred revenue 218,200,000    
Remaining performance obligations 719,700,000    
Sales and Marketing      
Disaggregation Of Revenue [Line Items]      
Deferred commissions amortization expense $ 16,500,000 $ 14,800,000 $ 12,800,000
Excluding United States, United Kingdom and Rest of the World      
Disaggregation Of Revenue [Line Items]      
Countries accounted for 10% or more of revenues | Country 0 0 0
v3.25.2
Revenues - Summary of Contract Assets and Liabilities (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Jun. 30, 2024
Revenue Recognition [Abstract]    
Unbilled accounts receivable [1] $ 19,519 $ 13,363
Deferred revenue, net $ 258,996 $ 222,486
[1] The long-term portion of $57 thousand and $63 thousand as of June 30, 2025 and 2024, respectively, is included in other assets on the consolidated balance sheets.
v3.25.2
Revenues - Summary of Contract Assets and Liabilities (Parenthetical) (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Jun. 30, 2024
Revenue Recognition [Abstract]    
Long-term portion of unbilled accounts receivable $ 57 $ 63
v3.25.2
Revenues - Additional Information 1 (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-07-01
Jun. 30, 2025
Disaggregation Of Revenue [Line Items]  
Revenue, Remaining Performance Obligation, Percentage 54.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period 12 months
v3.25.2
Business Combinations - Additional Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Apr. 21, 2025
May 01, 2024
Apr. 03, 2024
May 02, 2023
Jun. 13, 2022
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2022
Business Acquisition [Line Items]                  
Working capital adjustment paid           $ 51,832 $ 10,973 $ 6,604  
Maximum                  
Business Acquisition [Line Items]                  
Finite lived intangible asset useful life           7 years      
Maximum | Customer relationships                  
Business Acquisition [Line Items]                  
Finite lived intangible asset useful life           15 years 15 years    
TermSheet                  
Business Acquisition [Line Items]                  
Date of business acquisition Apr. 21, 2025                
Total consideration $ 51,407                
Cash consideration $ 51,023                
Acquisition-related transaction costs           $ 500      
Percentage of equity interest 100.00%                
TermSheet | Customer relationships                  
Business Acquisition [Line Items]                  
Identifiable intangible assets $ 3,180                
Finite lived intangible asset useful life           7 years      
TermSheet | Developed technology                  
Business Acquisition [Line Items]                  
Identifiable intangible assets $ 9,000                
Finite lived intangible asset useful life           4 years      
TermSheet | Maximum                  
Business Acquisition [Line Items]                  
Deferred consideration and contingent consideration           $ 15,000      
delphai                  
Business Acquisition [Line Items]                  
Date of business acquisition     Apr. 03, 2024            
Total consideration     $ 13,509            
Cash consideration     $ 11,818            
Acquisition-related transaction costs             $ 900    
Percentage of equity interest     100.00%            
TDI                  
Business Acquisition [Line Items]                  
Date of business acquisition   May 01, 2024              
Total consideration   $ 3,510              
Cash consideration   $ 2,149              
Acquisition-related transaction costs             $ 700    
Percentage of equity interest   100.00%              
Working capital adjustment paid           $ 900      
Paragon                  
Business Acquisition [Line Items]                  
Date of business acquisition       May 02, 2023          
Total consideration       $ 13,692          
Cash consideration       7,587          
Holdbacks       1,800          
Fair value of contingent consideration       $ 4,300          
Acquisition-related transaction costs               $ 1,200  
Percentage of equity interest       100.00%          
Paragon | Customer relationships                  
Business Acquisition [Line Items]                  
Identifiable intangible assets       $ 1,300          
Billstream                  
Business Acquisition [Line Items]                  
Date of business acquisition         Jun. 13, 2022        
Total consideration         $ 18,516        
Cash consideration         2,500        
Deferred purchase consideration         10,400        
Holdbacks         1,500        
Fair value of contingent consideration         4,100        
Acquisition-related transaction costs                 $ 200
Billstream | Customer relationships                  
Business Acquisition [Line Items]                  
Identifiable intangible assets         $ 6,600        
v3.25.2
Business Combinations - Summary of Allocation of Consideration To Fair Value of Assets Acquired And Liabilities Assumed (Details) - USD ($)
$ in Thousands
Apr. 21, 2025
May 01, 2024
Apr. 03, 2024
May 02, 2023
Jun. 13, 2022
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Business Acquisition [Line Items]                
Goodwill           $ 326,260 $ 285,969 $ 278,890
delphai                
Business Acquisition [Line Items]                
Cash consideration     $ 11,818          
Holdback     1,691          
Total purchase consideration     13,509          
Goodwill     5,433          
Net assets acquired     1,276          
Total     13,509          
TermSheet                
Business Acquisition [Line Items]                
Cash consideration $ 51,023              
Fair value of equity consideration 384              
Total purchase consideration 51,407              
Goodwill 39,586              
Net liabilities acquired (438)              
Total 51,407              
TDI                
Business Acquisition [Line Items]                
Cash consideration   $ 2,149            
Deferred consideration   1,262            
Fair value of contingent consideration   99            
Total purchase consideration   3,510            
Goodwill   1,639            
Net assets acquired   606            
Total   3,510            
Paragon                
Business Acquisition [Line Items]                
Cash consideration       $ 7,587        
Deferred consideration       565        
Holdback       1,223        
Fair value of contingent consideration       4,317        
Total purchase consideration       13,692        
Goodwill       8,669        
Net liabilities acquired       (577)        
Total       13,692        
Billstream                
Business Acquisition [Line Items]                
Cash consideration         $ 2,500      
Deferred consideration         10,390      
Holdback         1,500      
Fair value of contingent consideration         4,126      
Total purchase consideration         18,516      
Goodwill         7,974      
Net assets acquired         942      
Total         18,516      
Non-Compete Agreements | Paragon                
Business Acquisition [Line Items]                
Finite lived intangibles       500        
Non-Compete Agreements | Billstream                
Business Acquisition [Line Items]                
Finite lived intangibles         300      
Core Technology | delphai                
Business Acquisition [Line Items]                
Finite lived intangibles     $ 6,800          
Core Technology | TermSheet                
Business Acquisition [Line Items]                
Finite lived intangibles 9,030              
Core Technology | TDI                
Business Acquisition [Line Items]                
Finite lived intangibles   $ 1,265            
Core Technology | Paragon                
Business Acquisition [Line Items]                
Finite lived intangibles       3,300        
Core Technology | Billstream                
Business Acquisition [Line Items]                
Finite lived intangibles         2,200      
Client Relationships | TermSheet                
Business Acquisition [Line Items]                
Finite lived intangibles 3,180              
Client Relationships | Paragon                
Business Acquisition [Line Items]                
Finite lived intangibles       1,300        
Client Relationships | Billstream                
Business Acquisition [Line Items]                
Finite lived intangibles         6,600      
Backlog | TermSheet                
Business Acquisition [Line Items]                
Finite lived intangibles 27              
Backlog | Paragon                
Business Acquisition [Line Items]                
Finite lived intangibles       $ 500        
Backlog | Billstream                
Business Acquisition [Line Items]                
Finite lived intangibles         $ 500      
Trademarks and Trade Names | TermSheet                
Business Acquisition [Line Items]                
Indefinite lived intangibles $ 22              
v3.25.2
Business Combinations - Summary of Allocation of Consideration To Fair Value of Assets Acquired And Liabilities Assumed (Parenthetical) (Details) - Net liabilities acquired - USD ($)
$ in Thousands
May 01, 2024
Apr. 03, 2024
May 02, 2023
delphai      
Business Acquisition [Line Items]      
Deferred tax assets   $ 253  
TDI      
Business Acquisition [Line Items]      
Deferred tax liabilities $ 240    
Paragon      
Business Acquisition [Line Items]      
Deferred tax liabilities     $ 186
v3.25.2
Goodwill and Intangible Assets - Schedule of Changes in Carrying Amounts of Goodwill (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
Balance, beginning of period $ 285,969 $ 278,890
Goodwill acquired during the period 39,586 7,072
Foreign currency translation adjustment 705 7
Balance, end of period $ 326,260 $ 285,969
v3.25.2
Goodwill and Intangible Assets - Additional Information (Details) - USD ($)
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Goodwill [Line Items]      
Impairment of goodwill $ 0 $ 0 $ 0
Impairment of intangible assets $ 0 $ 0 $ 0
v3.25.2
Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Jun. 30, 2024
Finite Lived Intangible Assets [Line Items]    
Accumulated amortization $ (99,456) $ (87,603)
Net carrying amount 36,016  
Intangible assets gross carrying amount excluding goodwill 140,155 127,896
Intangible assets, net carrying amount excluding goodwill $ 40,699 40,293
Minimum    
Finite Lived Intangible Assets [Line Items]    
Useful life (In years) 2 years  
Maximum    
Finite Lived Intangible Assets [Line Items]    
Useful life (In years) 7 years  
Client Relationships    
Finite Lived Intangible Assets [Line Items]    
Gross carrying amount $ 52,080 48,900
Accumulated amortization (33,004) (28,949)
Net carrying amount $ 19,076 $ 19,951
Client Relationships | Minimum    
Finite Lived Intangible Assets [Line Items]    
Useful life (In years) 9 years 9 years
Client Relationships | Maximum    
Finite Lived Intangible Assets [Line Items]    
Useful life (In years) 15 years 15 years
Non-Compete Agreements    
Finite Lived Intangible Assets [Line Items]    
Gross carrying amount $ 4,907 $ 4,907
Accumulated amortization (4,651) (4,035)
Net carrying amount $ 256 $ 872
Non-Compete Agreements | Minimum    
Finite Lived Intangible Assets [Line Items]    
Useful life (In years) 3 years 3 years
Non-Compete Agreements | Maximum    
Finite Lived Intangible Assets [Line Items]    
Useful life (In years) 5 years 5 years
Trademarks and Trade Names    
Finite Lived Intangible Assets [Line Items]    
Gross carrying amount $ 7,844 $ 7,822
Accumulated amortization (6,199) (5,773)
Net carrying amount 1,645 2,049
Indefinite gross carrying amount 4,683 4,683
Indefinite net carrying amount $ 4,683 $ 4,683
Trademarks and Trade Names | Minimum    
Finite Lived Intangible Assets [Line Items]    
Useful life (In years) 5 years 5 years
Trademarks and Trade Names | Maximum    
Finite Lived Intangible Assets [Line Items]    
Useful life (In years) 10 years 10 years
Core Technology    
Finite Lived Intangible Assets [Line Items]    
Gross carrying amount $ 69,614 $ 60,584
Accumulated amortization (54,595) (48,054)
Net carrying amount $ 15,019 $ 12,530
Core Technology | Minimum    
Finite Lived Intangible Assets [Line Items]    
Useful life (In years) 2 years 2 years
Core Technology | Maximum    
Finite Lived Intangible Assets [Line Items]    
Useful life (In years) 7 years 7 years
Backlog    
Finite Lived Intangible Assets [Line Items]    
Useful life (In years) 2 years 2 years
Gross carrying amount $ 1,027 $ 1,000
Accumulated amortization (1,007) (792)
Net carrying amount $ 20 $ 208
v3.25.2
Goodwill and Intangible Assets - Schedule of Amortization Expense Related to Acquired Intangible Assets (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Finite Lived Intangible Assets [Line Items]      
Total amortization expense $ 11,853 $ 11,029 $ 10,773
Cost of SaaS      
Finite Lived Intangible Assets [Line Items]      
Total amortization expense 6,541 4,778 4,340
Sales and Marketing      
Finite Lived Intangible Assets [Line Items]      
Total amortization expense 4,696 5,599 5,921
General and Administrative      
Finite Lived Intangible Assets [Line Items]      
Total amortization expense $ 616 $ 652 $ 512
v3.25.2
Goodwill and Intangible Assets - Schedule of Estimated Future Amortization Expense for Acquired Intangible Assets (Details)
$ in Thousands
Jun. 30, 2025
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
2026 $ 10,583
2027 7,832
2028 7,335
2029 5,400
2030 2,295
2031 and thereafter 2,571
Net carrying amount $ 36,016
v3.25.2
Fair Value Measurements - Summary of Financial Assets Measured at Fair Value on Recurring Basis (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Jun. 30, 2024
Money Market Funds    
Financial assets:    
Total financial assets (Cash equivalents) $ 243,200 $ 78,700
Fair Value, Recurring Basis    
Financial assets:    
Total financial assets (Cash equivalents) 243,232 78,677
Fair Value, Recurring Basis | Money Market Funds    
Financial assets:    
Total financial assets (Cash equivalents) 243,232 78,677
Fair Value, Recurring Basis | Level 1    
Financial assets:    
Total financial assets (Cash equivalents) 243,232 78,677
Fair Value, Recurring Basis | Level 1 | Money Market Funds    
Financial assets:    
Total financial assets (Cash equivalents) 243,232 78,677
Fair Value, Recurring Basis | Level 2    
Financial assets:    
Total financial assets (Cash equivalents) 0 0
Fair Value, Recurring Basis | Level 2 | Money Market Funds    
Financial assets:    
Total financial assets (Cash equivalents) 0 0
Fair Value, Recurring Basis | Level 3    
Financial assets:    
Total financial assets (Cash equivalents) 0 0
Fair Value, Recurring Basis | Level 3 | Money Market Funds    
Financial assets:    
Total financial assets (Cash equivalents) $ 0 $ 0
v3.25.2
Fair Value Measurements - Summary of Financial Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Recurring Basis - USD ($)
$ in Thousands
Jun. 30, 2025
Jun. 30, 2024
Finanacial Liabilities:    
Liability for contingent consideration, current portion   $ 2,405
Liability for contingent consideration, noncurrent portion $ 86 153
Total financial liabilities 86 2,558
Level 1    
Finanacial Liabilities:    
Liability for contingent consideration, current portion   0
Liability for contingent consideration, noncurrent portion 0 0
Total financial liabilities 0 0
Level 2    
Finanacial Liabilities:    
Liability for contingent consideration, current portion   0
Liability for contingent consideration, noncurrent portion 0 0
Total financial liabilities 0 0
Level 3    
Finanacial Liabilities:    
Liability for contingent consideration, current portion   2,405
Liability for contingent consideration, noncurrent portion 86 153
Total financial liabilities $ 86 $ 2,558
v3.25.2
Fair Value Measurements - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
May 02, 2023
Jun. 13, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]          
Unrealized gain or loss on strategic investments $ 0.0 $ 0.0      
Other Assets          
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]          
Strategic investments 2.0        
Other Current Liabilities          
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]          
Fair value of contingent consideration liabilities, current 0.0 2.4      
TDI | Other Liabilities          
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]          
Business combination, contingent consideration, liability 0.2 0.2      
Paragon          
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]          
Fair value of contingent consideration liabilities, current   $ 2.4      
Payment of contingent consideration 1.4        
Fair value adjustment contingent consideration liability 1.0        
Paragon | Other Liabilities          
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]          
Business combination, contingent consideration, liability       $ 4.3  
Billstream          
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]          
Payment of contingent consideration $ 1.0        
Billstream | Other Current Liabilities          
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]          
Fair value of contingent consideration liabilities, current     $ 2.4    
Billstream | Other Liabilities          
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]          
Business combination, contingent consideration, liability         $ 4.1
v3.25.2
Fair Value Measurements - Schedule of Changes in Fair Value of Contingent Consideration Liabilities (Details) - Contingent Consideration Liability - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]    
Balance, beginning of period $ 2,558 $ 6,681
Contingent consideration accrued at acquisition 0 152
Payment of contingent consideration (1,401) (985)
Change of contingent consideration (1,027) (3,290)
Effect of foreign currency exchange rate changes (44) 0
Balance, end of period $ 86 $ 2,558
v3.25.2
Property and Equipment - Summary of Property and Equipment, Net (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Jun. 30, 2024
Property Plant And Equipment [Line Items]    
Property and equipment, Gross $ 45,487 $ 35,559
Less: accumulated depreciation and amortization (22,330) (16,615)
Property and equipment, net 23,157 18,944
Computer Equipment and Software    
Property Plant And Equipment [Line Items]    
Property and equipment, Gross 4,921 3,691
Capitalized Internal-Use Software    
Property Plant And Equipment [Line Items]    
Property and equipment, Gross 31,564 23,701
Furniture and Office Equipment    
Property Plant And Equipment [Line Items]    
Property and equipment, Gross 2,459 2,403
Leasehold Improvements    
Property Plant And Equipment [Line Items]    
Property and equipment, Gross 6,543 5,601
Construction in Progress    
Property Plant And Equipment [Line Items]    
Property and equipment, Gross $ 0 $ 163
v3.25.2
Property and Equipment - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Property, Plant and Equipment [Abstract]      
Depreciation expense $ 2.1 $ 2.1 $ 1.6
v3.25.2
Internal-Use Software Costs - Additional Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Property, Plant and Equipment [Abstract]      
Capitalized Internal Use Software Impairment Costs $ 0 $ 0 $ 0
Capitalized cloud computing implementation costs, impairment $ 0 $ 0 $ 0
v3.25.2
Internal-Use Software Costs - Summary of Capitalized Internal-Use Software Costs (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Jun. 30, 2024
Property, Plant and Equipment [Abstract]    
Capitalized internal-use software costs $ 31,564 $ 23,701
Less: Accumulated amortization (13,958) (10,232)
Capitalized internal-use software costs, net $ 17,606 $ 13,469
v3.25.2
Internal-Use Software Costs - Summary of Activity Related to Capitalized Internal-use Software Costs (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Property, Plant and Equipment [Abstract]      
Additions to capitalized internal-use software [1] $ 8,085 $ 6,723 $ 5,902
Amortization [2] $ 3,726 $ 3,597 $ 2,874
[1] Additions to capitalized stock-based compensation costs, which is included in these amounts, was $0.5 million during the fiscal year ended June 30, 2025 and not material during the fiscal years ended June 2024 and 2023, respectively.
[2] Amortization expense related to capitalized stock-based compensation costs, which is included in these amounts was not material for the periods presented.
v3.25.2
Internal-Use Software Costs - Summary of Activity Related to Capitalized Internal-use Software Costs (Parenthetical) (Details)
$ in Millions
 12 Months Ended
Jun. 30, 2025
USD ($)
Property, Plant and Equipment [Abstract]  
Additions to capitalized stock-based compensation costs $ 0.5
v3.25.2
Internal-Use Software Costs - Summary of Capitalized Cloud Computing Implementation Costs (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Jun. 30, 2024
Property, Plant and Equipment [Line Items]    
Capitalized cloud computing implementation costs $ 8,464 $ 4,093
Less: Accumulated amortization (865) 0
Capitalized cloud computing implementation costs, net 7,599 4,093
Prepaid Expenses    
Property, Plant and Equipment [Line Items]    
Capitalized cloud computing implementation costs, net $ 1,979 $ 595
v3.25.2
Internal-Use Software Costs - Summary of Activity Related to Capitalized Cloud Computing Implementation Costs (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Property, Plant and Equipment [Abstract]      
Additions to capitalized cloud computing implementation costs [1] $ 4,371 $ 4,093 $ 0
Amortization [2] $ 865 $ 0 $ 0
[1] Additions to capitalized stock-based compensation expense, which is included in these amounts, was $0.2 million and not material for fiscal years ended June 2024 and 2023, respectively.
[2] Amortization expense related to capitalized stock-based compensation costs, which is included in these amounts was not material for the periods presented.
v3.25.2
Internal-Use Software Costs - Summary of Activity Related to Capitalized Cloud Computing Implementation Costs (Parenthetical) (Details)
$ in Millions
 12 Months Ended
Jun. 30, 2025
USD ($)
Property, Plant and Equipment [Abstract]  
Additions to capitalized stock-based compensation expense $ 0.2
v3.25.2
Leases - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Leases [Abstract]      
Operating lease, option to extend the term 5 years    
Operating lease expiration year 2030    
Net impairment charge related to operating lease right-of-use assets     $ 1.6
Option to extend, description extend the existing leased office space through August 2026 additional 12 months through August 2025  
Option to extend true true  
Lease expiration year Aug. 31, 2026 Aug. 31, 2025  
Adjustment of ROU asset and lease liability $ 2.5 $ 2.2  
Operating lease liability $ 6.5 $ 6.0  
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Other Liabilities, Current Other Liabilities, Current  
v3.25.2
Leases - Schedule of Components of Lease Costs (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Lease, Cost [Abstract]      
Operating lease cost $ 6,612 $ 6,353 $ 6,113
Short-term lease cost 1,817 1,290 843
Variable lease cost $ 477 $ 455 $ 0
v3.25.2
Leases - Schedule of Components of Lease Costs (Parenthetical) (Details)
$ in Millions
 12 Months Ended
Jun. 30, 2023
USD ($)
Lease, Cost [Abstract]  
Net impairment charge related to right-of-use lease assets $ 1.6
v3.25.2
Leases - Schedule of Weighted Average Operating Leases Term and Discount Rate (Details)
Jun. 30, 2025
Jun. 30, 2024
Leases [Abstract]    
Weighted-average remaining lease term (in years) 4 years 4 months 24 days 5 years 3 months 18 days
Weighted-average discount rate 6.80% 7.00%
v3.25.2
Leases - Schedule of Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Leases [Abstract]    
Cash payments included in the measurement of operating lease liabilities $ 6,847 $ 5,847
ROU assets obtained in exchange for new operating lease liabilities $ 2,084 $ 8,983
v3.25.2
Leases - Schedule of Remaining Maturities of Operating Lease Liabilities And Future Minimum Lease Payments (Details)
$ in Thousands
Jun. 30, 2025
USD ($)
Leases [Abstract]  
2026 $ 7,780
2027 4,757
2028 4,632
2029 5,076
2030 3,817
2031 and thereafter 19
Total lease payments 26,081
Less: imputed interest (3,492)
Present value of operating lease liabilities $ 22,589
v3.25.2
Commitments and Contingencies - Additional Information (Details) - Microsoft - USD ($)
$ in Millions
 1 Months Ended
Dec. 31, 2021
Jun. 30, 2025
Long Term Purchase Commitment [Line Items]    
Purchase commitment, remaining   $ 76.6
Cloud Services Commitment    
Long Term Purchase Commitment [Line Items]    
Purchase commitment, end date 2028-12  
Purchase commitment, option to extend remaining commitment term 12 months  
Purchase commitment, option to extend remaining commitment date 2029-12  
Cloud Services Commitment | Minimum    
Long Term Purchase Commitment [Line Items]    
Purchase commitment amount $ 110.0  
v3.25.2
Commitments and Contingencies - Schedule of Future Minimum Payments under Non-Cancelable Purchase Commitments (Details)
$ in Thousands
Jun. 30, 2025
USD ($)
Commitments and Contingencies Disclosure [Abstract]  
2026 $ 6,433
2027 5,400
2028 4,051
2029 1,941
2030 944
2031 and thereafter 1,378
Total purchase commitments $ 20,147
v3.25.2
Debt - Additional Information (Details) - JP Morgan Credit Agreement
Oct. 05, 2021
USD ($)
Jun. 30, 2025
USD ($)
Debt Instrument [Line Items]    
Debt instrument, outstanding borrowings   $ 0
Minimum    
Debt Instrument [Line Items]    
Net leverage ratio 0.0025  
Maximum    
Debt Instrument [Line Items]    
Net leverage ratio 0.0040  
SOFR | Minimum    
Debt Instrument [Line Items]    
Debt Instrument, basis spread on variable rate 1.75%  
SOFR | Maximum    
Debt Instrument [Line Items]    
Debt Instrument, basis spread on variable rate 2.50%  
Alternate Base Rate | Minimum    
Debt Instrument [Line Items]    
Debt Instrument, basis spread on variable rate 0.75%  
Alternate Base Rate | Maximum    
Debt Instrument [Line Items]    
Debt Instrument, basis spread on variable rate 1.50%  
Revolving Credit Facility    
Debt Instrument [Line Items]    
Line of credit, maximum borrowing capacity $ 50,000,000.0  
Senior Secured Revolving Credit Facility    
Debt Instrument [Line Items]    
Line of credit, maximum borrowing capacity $ 100,000,000.0  
Debt instrument term 5 years  
Letters of Credit    
Debt Instrument [Line Items]    
Line of credit, maximum borrowing capacity $ 10,000,000.0  
v3.25.2
Stock-Based Compensation - Additional Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Jul. 01, 2025
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Proceeds from stock option exercises $ 40,845 $ 30,726 $ 23,456  
Income tax (expense) benefit (2,079) (2,115) 495  
Unrecognized compensation cost related to unvested stock-based awards granted $ 157,800      
Unrecognized compensation cost related to unvested stock-based awards granted, weighted-average period for recognition 2 years 6 months      
Unrecognized stock-based compensation expense $ 14,800      
Stock-based Compensation Expense        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Income tax (expense) benefit $ 2,500 1,100 700  
2021 Omnibus Incentive Plan | Subsequent Event        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Number of shares added       4,491,059
Stock Options        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Share based compensation vesting period 4 years      
Share based compensation expiration period 10 years      
Total intrinsic value of options exercised $ 179,900 86,700 61,300  
Proceeds from stock option exercises $ 40,800 $ 30,700 $ 23,500  
Number of Options, Granted 0 0    
ESPP        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Unrecognized compensation cost related to unvested stock-based awards granted, weighted-average period for recognition 4 months 24 days      
Purchase price of common stock lower of fair market value, percent 85.00%      
Terms of award The ESPP provides an offering period that begins on June 1 and December 1 of each year and each offering period consists of one six-month purchase period.      
Shares purchased during period 112,489 137,374    
Unrecognized compensation costs $ 700      
ESPP | Subsequent Event        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Number of shares added       898,211
v3.25.2
Stock-Based Compensation - Schedule of Shares of Common Stock Reserved for Future Issuance (Details)
shares in Thousands
Jun. 30, 2025
shares
Class Of Stock [Line Items]  
Total shares of common stock reserved for issuance 18,280
Outstanding Stock Options  
Class Of Stock [Line Items]  
Total shares of common stock reserved for issuance 2,628
Unvested PSUs and RSUs  
Class Of Stock [Line Items]  
Total shares of common stock reserved for issuance 5,316
Reserved for Future Stock Award Grants  
Class Of Stock [Line Items]  
Total shares of common stock reserved for issuance 6,818
Reserved for ESPP  
Class Of Stock [Line Items]  
Total shares of common stock reserved for issuance 3,518
v3.25.2
Stock-Based Compensation - Summary of Stock Option Activity (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]      
Number of Options, Outstanding, Beginning balance 6,866 10,137  
Number of Options, Exercised (4,212) (3,105)  
Number of Options, Forfeited (26) (166)  
Number of Options, Outstanding, Ending balance 2,628 6,866 10,137
Number of Options, Vested and exercisable 2,625    
Number of Options, Vested and expected to vest 2,628    
Weighted-Average Exercise Price, Beginning balance $ 10.4 $ 10.42  
Weighted-Average Exercise Price, Exercised 9.7 9.9  
Weighted-Average Exercise Price, Forfeited 21.91 20.7  
Weighted-Average Exercise Price, Ending balance 11.42 $ 10.4 $ 10.42
Weighted-Average Exercise Price, Vested and exercisable 11.4    
Weighted-Average Exercise Price, Vested and expected to vest $ 11.42    
Weighted-Average Remaining Contractual Term 3 years 9 months 18 days 4 years 4 months 24 days 5 years 6 months
Weighted-Average Remaining Contractual Term, Vested and exercisable 3 years 9 months 18 days    
Weighted-Average Remaining Contractual Term, Vested and expected to vest 3 years 9 months 18 days    
Aggregate Intrinsic Value [1] $ 105,632 $ 180,360 $ 319,250
Aggregate Intrinsic Value, Vested and exercisable [1] 105,586    
Aggregate Intrinsic Value, Vested and expected to vest [1] $ 105,632    
[1] Aggregate intrinsic value for stock options represents the difference between the exercise price and the per share fair value of the Company’s common stock as of the end of the period, multiplied by the number of stock options outstanding.
v3.25.2
Stock-Based Compensation - Schedule of PSU Activity (Details) - PSU - $ / shares
shares in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Number of Shares, Beginning balance 2,550 3,645
Number of Shares, Granted 1,224 1,229
Number of Shares, Vested (1,586) (1,911)
Number of Shares, Forfeited (178) (413)
Number of Shares, Ending balance 2,010 2,550
Weighted-Average Grant Date Fair Value, Beginning balance $ 29.48 $ 23.43
Weighted-Average Grant Date Fair Value, Granted 40.43 38.82
Weighted-Average Grant Date Fair Value, Vested 27.18 24.64
Weighted-Average Grant Date Fair Value, Forfeited 29.32 26.23
Weighted-Average Grant Date Fair Value, Ending balance $ 37.98 $ 29.48
v3.25.2
Stock-Based Compensation - Schedule of RSU Activity (Details) - RSU - $ / shares
shares in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Number of Shares, Beginning balance 2,524 2,154
Number of Shares, Granted 2,479 1,647
Number of Shares, Vested (1,338) (893)
Number of Shares, Forfeited (359) (384)
Number of Shares, Ending balance 3,306 2,524
Weighted-Average Grant Date Fair Value, Beginning balance $ 30.84 $ 24.46
Weighted-Average Grant Date Fair Value, Granted 47.2 36.39
Weighted-Average Grant Date Fair Value, Vested 34.12 26.14
Weighted-Average Grant Date Fair Value, Forfeited 35.55 29.72
Weighted-Average Grant Date Fair Value, Ending balance $ 41.27 $ 30.84
v3.25.2
Stock-Based Compensation - Summary of Stock-Based Compensation Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Total stock-based compensation $ 88,086 $ 59,895 $ 67,769
Cost of SaaS      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Total stock-based compensation 3,174 1,740 1,329
Cost of license      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Total stock-based compensation 709 552 376
Cost of Professional Services      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Total stock-based compensation 6,026 5,030 3,916
Research and Development      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Total stock-based compensation 24,309 14,854 15,186
Sales and Marketing      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Total stock-based compensation 24,557 17,312 20,426
General and Administrative      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Total stock-based compensation $ 29,311 $ 20,407 $ 26,536
v3.25.2
Stock-Based Compensation - Summary of Fair Value of ESPP Shares with Weighted-Average Assumptions (Details)
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Expected dividend yield 0.00%    
ESPP      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Expected dividend yield 0.00% 0.00% 0.00%
Risk-free interest rate 4.40% 5.40% 4.90%
Expected volatility 47.00% 46.00% 48.00%
Expected life (in years) 6 months 6 months 8 months 12 days
v3.25.2
Income Taxes - Components of Loss Before Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]      
U.S. $ (30,981) $ (34,220) $ (72,871)
Foreign 14,843 4,314 2,951
Net loss before income taxes $ (16,138) $ (29,906) $ (69,920)
v3.25.2
Income Taxes - Schedule of Income Tax Expense (Benefit) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Current:      
Federal $ 0 $ 0 $ (246)
State 253 1,307 226
Foreign 1,378 830 437
Current income tax (benefit) expense 1,631 2,137 417
Deferred:      
Federal 0 0 (154)
State (84) 34 (327)
Foreign 532 (56) (431)
Deferred income tax (benefit) expense 448 (22) (912)
Income tax expense (benefit) $ 2,079 $ 2,115 $ (495)
v3.25.2
Income Taxes - Schedule of Statutory Federal Income Tax Rate (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
At statutory rate $ (3,389) $ (6,280) $ (14,683)
State tax (net of federal benefit) 205 935 192
Research and development credits (2,890) (2,943) (1,888)
Stock-based compensation (29,058) (9,364) (3,311)
Acquisition-related transaction costs (61) 162 254
Change in valuation allowance 37,771 19,448 20,764
Other (499) 157 (1,823)
Income tax expense (benefit) $ 2,079 $ 2,115 $ (495)
v3.25.2
Income Taxes - Summary of Significant Deferred Tax Assets And Liabilities (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Jun. 30, 2024
Deferred tax assets:    
Nondeductible accrued expenses $ 2,614 $ 3,243
Net operating loss carryforwards 47,217 31,153
Research and development credits 13,773 9,551
Section 174 capitalization 74,073 47,930
Stock-based compensation 6,594 7,437
Interest carryforwards 10,828 13,765
Deferred revenue 201 588
Other 36 67
Valuation allowance (144,693) (100,543)
Total deferred tax assets 10,643 13,191
Deferred tax liabilities:    
Deferred commissions (7,133) (6,614)
Fixed assets (4,115) (3,089)
Intangible assets (551) (4,196)
Total deferred tax liabilities (11,799) (13,899)
Net deferred tax liabilities $ (1,156) $ (708)
v3.25.2
Income Taxes - Additional Information (Details) - USD ($)
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2022
Income Taxes [Line Items]        
Valuation allowances $ 144,693,000 $ 100,543,000    
Accumulated undistributed earnings generated by foreign subsidiaries 39,000,000      
Accrued interest related to income tax uncertainties 0 0    
Accrued penalties related to income tax uncertainties 0 0    
Unrecognized tax benefits 8,522,000 $ 6,876,000 $ 5,311,000 $ 3,811,000
Unrecognized tax benefits that would impact effective tax rate 0      
Accrued interest rand penalties related to income tax uncertainties 0      
Federal        
Income Taxes [Line Items]        
Net operating loss carryforwards $ 171,300,000      
Net operating loss carryforwards, expiration year 2034      
Federal | Research        
Income Taxes [Line Items]        
Tax credit carryforward $ 15,800,000      
Tax credit carryforward, expiration year 2027      
California        
Income Taxes [Line Items]        
Net operating loss carryforwards, expiration year 2025      
State        
Income Taxes [Line Items]        
Net operating loss carryforwards $ 188,400,000      
State | Research        
Income Taxes [Line Items]        
Tax credit carryforward $ 7,300,000      
v3.25.2
Income Taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Unrecognized Tax Benefits [Roll Forward]      
Beginning of the year, unrecognized tax benefits $ 6,876 $ 5,311 $ 3,811
Increases, prior year tax positions 119 173 532
Increases, current year tax positions 1,527 1,392 968
End of the year, unrecognized tax benefits $ 8,522 $ 6,876 $ 5,311
v3.25.2
Net Loss Per Share - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Numerator:      
Net loss $ (18,217) $ (32,021) $ (69,425)
Denominator:      
Weighted-average shares used to compute net loss per share, basic 78,710 71,488 64,295
Weighted-average shares used to compute net loss per share, diluted 78,710 71,488 64,295
Net loss per share, basic      
Basic $ (0.23) $ (0.45) $ (1.08)
Net loss per share, diluted      
Diluted $ (0.23) $ (0.45) $ (1.08)
v3.25.2
Net Loss Per Share - Schedule of Anti-dilutive Securities Excluded from Computation of Net Loss Per Share Attributable to Common Stockholders (Details) - shares
shares in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]      
Anti-dilutive securities excluded from net loss per share attributable to common stockholders 8,001 12,015 15,955
Outstanding Stock Options to Purchase Common Stock      
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]      
Anti-dilutive securities excluded from net loss per share attributable to common stockholders 2,628 6,866 10,137
Unvested PSUs and RSUs      
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]      
Anti-dilutive securities excluded from net loss per share attributable to common stockholders 5,316 5,137 5,803
Shares Issuable under ESPP      
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]      
Anti-dilutive securities excluded from net loss per share attributable to common stockholders 57 12 15
v3.25.2
Stockholders' Equity - Additional Information (Details)
Aug. 07, 2025
USD ($)
Subsequent Event | Maximum  
Share Repurchase Program [Line Items]  
Common stock repurchase program authorized amount $ 150,000,000
v3.25.2
Employee Benefit Plans - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 22, 2012
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Retirement Benefits [Abstract]        
Percentage of compensation 100.00%      
Matching contributions, vesting percentage 100.00%      
Employer discretionary and matching contribution amount   $ 4.7 $ 4.3 $ 3.8
Defined contribution plan, employee pension contribution expenses   $ 2.8 $ 2.4 $ 1.7
v3.25.2
Related Party Transactions - Additional Information (Details) - Common Stock - Secondary Offerings - USD ($)
$ / shares in Units, $ in Millions
 1 Months Ended 12 Months Ended
Nov. 30, 2023
Mar. 31, 2024
Jun. 30, 2024
Related Party Transaction [Line Items]      
Common stock, shares sold 5,000,000 7,000,000  
Common stock, share price $ 39.01 $ 36.27  
Costs incurred in connection with the offering     $ 1.1
v3.25.2
Subsequent Events - Additional Information (Details) - Subsequent Event - USD ($)
Aug. 20, 2025
Aug. 07, 2025
Convertible Promissory Note    
Subsequent Event [Line Items]    
Principal amount $ 3,000,000  
Maximum    
Subsequent Event [Line Items]    
Common stock repurchase program authorized amount   $ 150,000,000