0000950170-24-100587 | 10-K | XBRL Viewer

Leases (Tables)

12 Months Ended

Jun. 30, 2024

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


	Year Ended June 30,
Operating Leases:	2024		2023
Operating lease cost (1)	$	6,353	$	6,113
Short-term lease cost		1,290		843
Variable lease cost		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, 2024			June 30, 2023
Weighted-average remaining lease term (in years)		5.3			6.0
Weighted-average discount rate		7.0	%		7.1	%

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,
	2024		2023
Cash payments included in the measurement of operating lease liabilities	$	5,847	$	7,582
ROU assets obtained in exchange for new operating lease liabilities		8,983		3,253

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

As of June 30, 2024, remaining maturities of operating lease liabilities are as follows (in thousands):


Fiscal Year Ending June 30,	Amount
2025	$	7,558
2026		5,273
2027		4,324
2028		4,617
2029		5,032
2030 and thereafter		3,760
Total lease payments		30,564
Less: imputed interest		(4,956	)
Present value of operating lease liabilities	$	25,608

Leases

12 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

Note 8. Leases

The Company leases the majority of its office space in the U.S., U.K., Netherlands, Ukraine, Germany 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.

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 in its consolidated statements of operations for the fiscal year ended June 30, 2023.

In February 2024, the Company further amended the lease in Palo Alto to extend the existing leased office space for an additional 12 months through August 2025. The Company accounted for these lease extensions as lease modifications and recorded an adjustment of $2.2 million and $2.5 million to the operating ROU asset and operating lease liability on the consolidated balance sheets as of June 30, 2024 and 2023, respectively.

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


	Year Ended June 30,
Operating Leases:	2024		2023
Operating lease cost (1)	$	6,353	$	6,113
Short-term lease cost		1,290		843
Variable lease cost		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.

Rent expense for operating leases recognized prior to the adoption of ASC 842 for the fiscal year ended June 30, 2022 was $9.0 million.


Lease Term and Discount Rate:	June 30, 2024			June 30, 2023
Weighted-average remaining lease term (in years)		5.3			6.0
Weighted-average discount rate		7.0	%		7.1	%

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


	Year Ended June 30,
	2024		2023
Cash payments included in the measurement of operating lease liabilities	$	5,847	$	7,582
ROU assets obtained in exchange for new operating lease liabilities		8,983		3,253

Current operating lease liabilities of $6.0 million and $4.7 million were included in other current liabilities on the Company’s consolidated balance sheets as of June 30, 2024 and 2023, respectively.

As of June 30, 2024, remaining maturities of operating lease liabilities are as follows (in thousands):


Fiscal Year Ending June 30,	Amount
2025	$	7,558
2026		5,273
2027		4,324
2028		4,617
2029		5,032
2030 and thereafter		3,760
Total lease payments		30,564
Less: imputed interest		(4,956	)
Present value of operating lease liabilities	$	25,608

Revenues - Additional Information 1 (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-07-01	Jun. 30, 2024
Disaggregation Of Revenue [Line Items]
Revenue, Remaining Performance Obligation, Percentage	55.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Cash Flows from Operating Activities:
Net loss	$ (32,021)	$ (69,425)	$ (99,678)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	16,704	15,319	16,742
Amortization of operating lease right-of-use assets	4,781	4,639	0
Accounts receivable allowances	3,711	922	541
Stock-based compensation	59,895	67,769	77,514
Lease modification and impairment	0	1,601	0
Loss on debt extinguishment	0	0	2,407
Change in fair value of contingent consideration	(3,290)	(1,762)	(2,776)
Deferred income taxes	(22)	(912)	(4,237)
Other	239	154	(133)
Changes in operating assets and liabilities:
Accounts receivable	(5,138)	(26,402)	(18,205)
Unbilled receivables, current	(2,639)	(3,898)	1,347
Prepaid expenses and other assets	(5,740)	1,261	905
Deferred commissions	(4,066)	(3,394)	(7,977)
Accounts payable and accrued liabilities	9,438	2,313	15,589
Deferred revenue, net	28,261	46,565	35,345
Operating lease liabilities	(4,266)	(5,922)	0
Other liabilities	1,384	(1,341)	(3,148)
Net cash provided by operating activities	67,231	27,487	14,236
Cash Flows from Investing Activities:
Purchases of property and equipment	(2,457)	(2,212)	(554)
Capitalized internal-use software costs	(6,398)	(5,524)	(4,233)
Business combinations, net of cash acquired	(10,973)	(6,604)	(2,500)
Net cash used in investing activities	(19,828)	(14,340)	(7,287)
Cash Flows from Financing Activities:
Payments on borrowings	0	0	(278,000)
Proceeds from public offering, net of underwriting discounts	0	70,080	292,758
Payments for deferred offering costs	(781)	(790)	(4,358)
Proceeds from stock option exercises	30,726	23,456	10,211
Proceeds from employee stock purchase plan	3,431	2,700	1,163
Payments related to tax withholding for vested equity awards	0	(9,056)	(3,923)
Payments of deferred financing costs	0	0	(769)
Payments of deferred contingent consideration and holdback associated with acquisitions	(3,051)	(22,290)	(10,435)
Net cash provided by financing activities	30,325	64,100	6,647
Effect of foreign currency exchange rate changes on cash and cash equivalents	(343)	(373)	(748)
Net increase in cash, cash equivalents and restricted cash	77,385	76,874	12,848
Cash, cash equivalents and restricted cash - beginning of period	131,185	54,311	41,463
Cash, cash equivalents and restricted cash - end of period	208,570	131,185	54,311
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:
Cash and cash equivalents	208,370	130,377	50,783
Restricted cash	200	808	3,528
Total cash, cash equivalents and restricted cash	208,570	131,185	54,311
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	1	3	5,950
Cash paid for income taxes, net of tax refunds	2,184	1,812	864
Non-cash investing and financing activities:
Purchases of property and equipment in accounts payable and accrued liabilities	69	517	28
Capitalized internal-use software costs in accounts payable and accrued liabilities	702	378	0
Deferred offering costs in accounts payable and accrued liabilities	0	776	0
Conversion of convertible preferred stock to common stock upon initial public offering	0	0	144,148
Vesting of early exercised stock options	0	0	2,214
Deferred consideration included in accounts payable, accrued liabilities and other liabilities	1,262	0	10,390
Issuance of common stock in connection with a business combination	0	1,035	0
Acquisition holdbacks in other liabilities	1,691	1,624	1,500
Fair value of contingent consideration in accrued and other liabilities	99	4,317	4,126
Business combinations, net of cash acquired:
Cash paid	13,967	6,711	2,500
Cash acquired	(2,994)	(107)	0
Total consideration	$ 10,973	$ 6,604	$ 2,500

Income Taxes - Summary of Significant Deferred Tax Assets And Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Deferred tax assets:
Nondeductible accrued expenses	$ 3,243	$ 2,658
Net operating loss carryforwards	31,153	29,054
Research and development credits	9,551	6,634
Section 174 capitalization	47,930	22,934
Stock-based compensation	7,437	11,079
Interest carryforwards	13,765	14,342
Deferred revenue	588	709
Other	67	234
Valuation allowance	(100,543)	(71,911)
Total deferred tax assets	13,191	15,733
Deferred tax liabilities:
Deferred commissions	(6,614)	(5,906)
Fixed assets	(3,089)	(2,479)
Intangible assets	(4,196)	(8,090)
Total deferred tax liabilities	(13,899)	(16,475)
Net deferred tax liabilities	$ (708)	$ (742)

Stockholders' Equity and Stock-Based Compensation - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 59,895	$ 67,769	$ 77,514
Cost of SaaS and Support
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	2,292	1,705	1,258
Cost of Professional Services
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	5,030	3,916	3,029
Research and Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	14,854	15,186	17,166
Sales and Marketing
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	17,312	20,426	25,428
General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 20,407	$ 26,536	$ 30,633

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Property and Equipment (Tables)

12 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Summary of Property and Equipment

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


	June 30, 2024			June 30, 2023
Computer equipment and software	$	3,691		$	2,290
Capitalized internal-use software		23,701			16,978
Furniture and office equipment		2,403			2,433
Leasehold improvements		5,601			5,897
Construction in progress		163			386
Total property and equipment		35,559			27,984
Less: accumulated depreciation and amortization		(16,615	)		(11,618	)
Property and equipment, net	$	18,944		$	16,366

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

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Jun. 30, 2024
Retirement Benefits [Abstract]
Employee Benefit Plans	Note 14. 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 $4.3 million, $3.8 million and $3.0 million for the fiscal years ended June 30, 2024, 2023 and 2022, 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 $2.4 million, $1.7 million and $1.3 million for the fiscal years ended June 30, 2024, 2023 and 2022, respectively.

Related Party Transactions

12 Months Ended

Jun. 30, 2024

Related Party Transactions

Note 15. 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.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Net Loss Per Share (Tables)

12 Months Ended

Jun. 30, 2024

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,
	2024			2023			2022
Numerator:
Net loss	$	(32,021	)	$	(69,425	)	$	(99,678	)
Denominator:
Weighted-average shares used to compute net loss per share, basic and diluted		71,488			64,295			61,267
Net loss per share, basic and diluted
Basic and diluted	$	(0.45	)	$	(1.08	)	$	(1.63	)

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):


	As of June 30,
	2024		2023		2022
Outstanding stock options to purchase common stock		6,866		10,137		12,773
Unvested PSUs and RSUs		5,074		5,799		4,471
Shares issuable under ESPP		12		15		18
Shares issuable related to acquisition		63		4		—
Total		12,015		15,955		17,262

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

Revenues - Summary of Deferred Commissions Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Revenue Recognition [Abstract]
Beginning balance	$ 28,336	$ 24,942
Additions	18,856	16,242
Recognition of deferred commissions	(14,790)	(12,848)
Ending balance	$ 32,402	$ 28,336

CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Initial Public Offering
Offering costs / Issuance costs			$ 9,767
Follow-On Public Offering
Offering costs / Issuance costs	$ 1,569	$ 1,565

Goodwill and Intangible Assets (Tables)

12 Months Ended

Jun. 30, 2024

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):


	Year Ended June 30,
	2024		2023
Balance, beginning of period	$	278,890	$	269,103
Goodwill acquired during the period		7,072		8,669
Purchase price adjustment		—		784
Foreign currency translation adjustment		7		334
Balance, end of period	$	285,969	$	278,890

Schedule of Intangible Assets Amortized on Straight Line Basis

Certain assets are being amortized on a straight-line basis over the period of expected benefit with no calculated residual value, as follows:



Description	Period

Client relationships	9 to 15 years

Non-compete agreements	3 to 5 years

Trademarks and trade names	5 years to indefinite

Core technology	2 to 7 years

Backlog	2 years

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


	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


	June 30, 2023
	Useful Life (In years)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Client relationships	9 to 15	$	48,900	$	(24,341	)	$	24,559
Non-compete agreements	3 to 5		4,907		(3,383	)		1,524
Trademarks and trade names	Indefinite		4,683		—			4,683
Trademarks and trade names	5 to 10		7,822		(5,270	)		2,552
Core technology	4 to 6		52,519		(43,275	)		9,244
Backlog	2		1,000		(305	)		695
Intangible assets, net		$	119,831	$	(76,574	)	$	43,257

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,
	2024		2023		2022
Cost of SaaS and support	$	4,778	$	4,340	$	7,877
Sales and marketing		5,599		5,921		5,214
General and administrative		652		512		428
Total amortization expense	$	11,029	$	10,773	$	13,519

Schedule of Estimated Future Amortization Expense for Acquired Intangible Assets

As of June 30, 2024, the estimated future amortization expense for acquired intangible assets is as follows (in thousands):


Fiscal Year Ending June 30,	Amount
2025	$	11,163
2026		7,835
2027		5,121
2028		4,623
2029		3,252
2030 and thereafter		3,616
Total remaining amortization	$	35,610

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Business Combinations - Additional Information (Details) - USD ($) $ in Thousands	May 01, 2024	Apr. 03, 2024	May 02, 2023	Jun. 13, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
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%
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%
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

Summary of Significant Accounting Policies - Schedule of Intangible Assets Amortized on Straight Line Basis (Details)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Trademarks and Trade Names
Finite Lived Intangible Assets [Line Items]
Finite lived intangible asset useful life	5 years to indefinite
Backlog
Finite Lived Intangible Assets [Line Items]
Finite lived intangible asset useful life	2 years
Minimum \| Client Relationships
Finite Lived Intangible Assets [Line Items]
Finite lived intangible asset useful life	9 years	9 years
Minimum \| Non-Compete Agreements
Finite Lived Intangible Assets [Line Items]
Finite lived intangible asset useful life	3 years	3 years
Minimum \| Trademarks and Trade Names
Finite Lived Intangible Assets [Line Items]
Finite lived intangible asset useful life	5 years	5 years
Minimum \| Core Technology
Finite Lived Intangible Assets [Line Items]
Finite lived intangible asset useful life	2 years	4 years
Maximum \| Client Relationships
Finite Lived Intangible Assets [Line Items]
Finite lived intangible asset useful life	15 years	15 years
Maximum \| Non-Compete Agreements
Finite Lived Intangible Assets [Line Items]
Finite lived intangible asset useful life	5 years	5 years
Maximum \| Trademarks and Trade Names
Finite Lived Intangible Assets [Line Items]
Finite lived intangible asset useful life	10 years	10 years
Maximum \| Core Technology
Finite Lived Intangible Assets [Line Items]
Finite lived intangible asset useful life	7 years	6 years

Stockholders' Equity and Stock-Based Compensation - Schedule of RSU Activity (Details) - RSU - $ / shares shares in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Beginning balance	2,154	1,001
Number of Shares, Granted	1,647	1,843
Number of Shares, Vested	(893)	(517)
Number of Shares, Forfeited	(384)	(173)
Number of Shares, Ending balance	2,524	2,154
Weighted-Average Grant Date Fair Value, Beginning balance	$ 24.46	$ 29.18
Weighted-Average Grant Date Fair Value, Granted	36.39	22.01
Weighted-Average Grant Date Fair Value, Vested	26.14	25.15
Weighted-Average Grant Date Fair Value, Forfeited	29.72	23.5
Weighted-Average Grant Date Fair Value, Ending balance	$ 30.84	$ 24.46

Stockholders' Equity and Stock-Based Compensation - Summary of Stock Option Activity (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

12 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Number of Options, Outstanding, Beginning balance

10,137

12,773

Number of Options, Exercised

(3,105)

(2,313)

Number of Options, Forfeited

(166)

(323)

Number of Options, Outstanding, Ending balance

6,866

10,137

12,773

Number of Options, Vested and exercisable

6,632

Number of Options, Vested and expected to vest

6,866

Weighted-Average Exercise Price, Beginning balance

$ 10.42

$ 10.56

Weighted-Average Exercise Price, Exercised

9.9

10.14

Weighted-Average Exercise Price, Forfeited

20.7

18.08

Weighted-Average Exercise Price, Ending balance

10.4

$ 10.42

$ 10.56

Weighted-Average Exercise Price, Vested and exercisable

10.04

Weighted-Average Exercise Price, Vested and expected to vest

$ 10.4

Weighted-Average Remaining Contractual Term

4 years 4 months 24 days

5 years 6 months

6 years 6 months

Weighted-Average Remaining Contractual Term, Vested and exercisable

4 years 3 months 18 days

Weighted-Average Remaining Contractual Term, Vested and expected to vest

4 years 4 months 24 days

Aggregate Intrinsic Value

^[1]

$ 180,360

$ 319,250

$ 65,284

Aggregate Intrinsic Value, Vested and exercisable

^[1]

176,657

Aggregate Intrinsic Value, Vested and expected to vest

^[1]

$ 180,360

[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.

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Jun. 30, 2024	Aug. 12, 2024	Dec. 31, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
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			$ 1.3
Entity Common Stock, Shares Outstanding		74,699,528
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
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 2024 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.

Commitments and Contingencies - Additional Information (Details) - Microsoft - USD ($) $ in Millions	1 Months Ended
	Dec. 31, 2021	Jun. 30, 2024
Long Term Purchase Commitment [Line Items]
Purchase commitment, remaining		$ 94.7
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

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Revenues
Total revenues	$ 430,523	$ 350,873	$ 272,071
Cost of revenues
Total cost of revenues	123,661	111,462	99,083
Gross profit	306,862	239,411	172,988
Operating expenses:
Research and development	113,634	93,851	74,412
Sales and marketing	138,176	132,189	111,905
General and administrative	87,243	81,031	86,127
Lease modification and impairment	0	1,601	0
Total operating expenses	339,053	308,672	272,444
Operating loss	(32,191)	(69,261)	(99,456)
Loss on debt extinguishment	0	0	(2,407)
Interest and other income (expense), net	2,285	(659)	(1,250)
Net loss before income taxes	(29,906)	(69,920)	(103,113)
Income tax (expense) benefit	(2,115)	495	3,435
Net loss	$ (32,021)	$ (69,425)	$ (99,678)
Net loss per share, basic	$ (0.45)	$ (1.08)	$ (1.63)
Net loss per share, diluted	$ (0.45)	$ (1.08)	$ (1.63)
Weighted-average shares used to compute net loss per share, basic	71,488	64,295	61,267
Weighted-average shares used to compute net loss per share, diluted	71,488	64,295	61,267
SaaS and Support
Revenues
Total revenues	$ 315,960	$ 252,310	$ 192,980
Cost of revenues
Total cost of revenues	59,831	53,022	51,177
Subscription License
Revenues
Total revenues	60,682	48,970	44,202
Professional Services
Revenues
Total revenues	53,881	49,593	34,889
Cost of revenues
Total cost of revenues	$ 63,830	$ 58,440	$ 47,906

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	Rule 10b5-1 Trading Plans Michele Murgel, the Company’s Chief People and Places Officer, entered into a stock trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) (a “Rule 10b5-1 Plan”) on June 13, 2024, which has an end date of February 15, 2025. Ms. Murgel’s Rule 10b5-1 Plan provides for the potential exercise of stock options and the associated sale of up to 38,533 shares of Intapp common stock and the potential sale of up to 23,172 additional shares of Intapp common stock.
Michele Murgel
Trading Arrangements, by Individual
Name	Michele Murgel
Title	Chief People and Places Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	June 13, 2024
Expiration Date	February 15, 2025
Arrangement Duration	247 days
Aggregate Available	38,533
Potential sale of common stock \| Michele Murgel
Trading Arrangements, by Individual
Aggregate Available	23,172

Stockholders' Equity and Stock-Based Compensation - Schedule of Shares of Common Stock Reserved for Future Issuance (Details) shares in Thousands	Jun. 30, 2024 shares
Class Of Stock [Line Items]
Total shares of common stock reserved for issuance	20,220
Outstanding Stock Options
Class Of Stock [Line Items]
Total shares of common stock reserved for issuance	6,866
Unvested PSUs and RSUs
Class Of Stock [Line Items]
Total shares of common stock reserved for issuance	5,074
Reserved for Future Stock Award Grants
Class Of Stock [Line Items]
Total shares of common stock reserved for issuance	5,516
Reserved for ESPP
Class Of Stock [Line Items]
Total shares of common stock reserved for issuance	2,764

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 210
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3

+ Details

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Income Taxes [Line Items]
Valuation allowances	$ 100,543,000	$ 71,911,000
Accumulated undistributed earnings generated by foreign subsidiaries	26,200,000
Accrued interest related to income tax uncertainties	0	0
Accrued penalties related to income tax uncertainties	0	0
Unrecognized tax benefits	6,876,000	$ 5,311,000	$ 3,811,000	$ 2,970,000
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	$ 107,800,000
Net operating loss carryforwards, expiration year	2034
Federal \| Research
Income Taxes [Line Items]
Tax credit carryforward	$ 11,700,000
Tax credit carryforward, expiration year	2027
California
Income Taxes [Line Items]
Net operating loss carryforwards	$ 49,000,000
Net operating loss carryforwards, expiration year	2029
Other State
Income Taxes [Line Items]
Net operating loss carryforwards	$ 60,600,000
State \| Research
Income Taxes [Line Items]
Tax credit carryforward	$ 5,200,000

Net Loss Per Share

12 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Net Loss Per Share

Note 13. 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,
	2024			2023			2022
Numerator:
Net loss	$	(32,021	)	$	(69,425	)	$	(99,678	)
Denominator:
Weighted-average shares used to compute net loss per share, basic and diluted		71,488			64,295			61,267
Net loss per share, basic and diluted
Basic and diluted	$	(0.45	)	$	(1.08	)	$	(1.63	)

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):


	As of June 30,
	2024		2023		2022
Outstanding stock options to purchase common stock		6,866		10,137		12,773
Unvested PSUs and RSUs		5,074		5,799		4,471
Shares issuable under ESPP		12		15		18
Shares issuable related to acquisition		63		4		—
Total		12,015		15,955		17,262

Business Combinations (Tables)

12 Months Ended

Jun. 30, 2024

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

Revenues - Summary of Contract Assets and Liabilities (Parenthetical) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Revenue Recognition [Abstract]
Long-term portion of unbilled accounts receivable	$ 63	$ 104

Fair Value Measurements - Summary of Financial Assets Measured at Fair Value on Recurring Basis (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Money Market Funds
Assets, Fair Value Disclosure [Abstract]
Total financial assets (Cash equivalents)	$ 78,700
Fair Value, Recurring Basis
Assets, Fair Value Disclosure [Abstract]
Total financial assets (Cash equivalents)	78,677
Fair Value, Recurring Basis \| Money Market Funds
Assets, Fair Value Disclosure [Abstract]
Total financial assets (Cash equivalents)	78,677
Fair Value, Recurring Basis \| Level 1
Assets, Fair Value Disclosure [Abstract]
Total financial assets (Cash equivalents)	78,677
Fair Value, Recurring Basis \| Level 1 \| Money Market Funds
Assets, Fair Value Disclosure [Abstract]
Total financial assets (Cash equivalents)	78,677
Fair Value, Recurring Basis \| Level 2
Assets, Fair Value Disclosure [Abstract]
Total financial assets (Cash equivalents)	0
Fair Value, Recurring Basis \| Level 2 \| Money Market Funds
Assets, Fair Value Disclosure [Abstract]
Total financial assets (Cash equivalents)	0
Fair Value, Recurring Basis \| Level 3
Assets, Fair Value Disclosure [Abstract]
Total financial assets (Cash equivalents)	0
Fair Value, Recurring Basis \| Level 3 \| Money Market Funds
Assets, Fair Value Disclosure [Abstract]
Total financial assets (Cash equivalents)	$ 0

Commitments and Contingencies (Tables)

12 Months Ended

Jun. 30, 2024

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 services, support fees and software subscriptions to support operations in the ordinary course of business. Future minimum payments under the Company’s non-cancelable purchase commitments as of June 30, 2024 are as follows (in thousands):


Year ending June 30,	Amount
2025	$	5,459
2026		3,106
2027		2,816
2028		2,879
2029		800
2030 and thereafter		1,600
Total purchase commitments	$	16,660

Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Jun. 30, 2024 USD ($) Segment Unit Client	Jun. 30, 2023 USD ($) Client	Jun. 30, 2022 USD ($) Client
Summary Of Accounting Policies [Line Items]
Number of operating segments \| Segment	1
Number of reportable segments \| Segment	1
Advertising expense	$ 1,500,000	$ 1,300,000	$ 1,300,000
Stock-based compensation recognized on a straight-line basis over period	4 years
Compensation cost	$ 0
Cash equivalents		$ 0
Capitalized internal-use software estimated useful life	4 years
Number of reporting units \| Unit	1
Residual value of intangible assets	$ 0
Money Market Funds
Summary Of Accounting Policies [Line Items]
Fair Value	$ 78,700,000
ASU 2016-13
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	Jul. 01, 2023
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]	true
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	16.00%	15.00%
ESPP
Summary Of Accounting Policies [Line Items]
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
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
Maximum \| SaaS and Support
Summary Of Accounting Policies [Line Items]
Client acquisition cost capitalized and amortized over expected benefit period	4 years
Maximum \| SaaS and Support
Summary Of Accounting Policies [Line Items]
Subscription arrangements term	3 years

Goodwill and Intangible Assets - Schedule of Changes in Carrying Amounts of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Balance, beginning of period	$ 278,890	$ 269,103
Goodwill acquired during the period	7,072	8,669
Purchase price adjustment	0	784
Foreign currency translation adjustment	7	334
Balance, end of period	$ 285,969	$ 278,890

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
-Section 55
-Paragraph 49
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

+ Details

Revenues

12 Months Ended

Jun. 30, 2024

Revenue Recognition [Abstract]

Revenues

Note 3. Revenues

Disaggregation of Revenues

Revenues by geography were as follows (in thousands):


	Year Ended June 30,
	2024		2023		2022
U.S.	$	292,009	$	243,237	$	188,971
U.K.		64,199		54,326		45,025
Rest of the world		74,315		53,310		38,075
Total	$	430,523	$	350,873	$	272,071

No country other than those listed above accounted for 10% or more of the Company’s revenues during the fiscal years ended June 30, 2024, 2023 and 2022.

Client Contract — Related Balance Sheet Amounts

Deferred Commissions

The following table summarizes the activity of deferred commissions (in thousands):


	Year Ended June 30,
	2024			2023
Beginning balance	$	28,336		$	24,942
Additions		18,856			16,242
Recognition of deferred commissions		(14,790	)		(12,848	)
Ending balance	$	32,402		$	28,336

Contract Balances

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


	June 30, 2024		June 30, 2023
Unbilled accounts receivable(1)	$	13,363	$	10,765
Deferred revenue, net		222,486		192,397

(1) The long-term portion of $63 and $104 as of June 30, 2024 and 2023, 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, 2024 and 2023. During the fiscal year ended June 30, 2024, the Company recognized $190.4 million in revenue pertaining to deferred revenue as of June 30, 2023.

Remaining Performance Obligations

Remaining performance obligations represent non-cancellable 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, subscription 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, 2024, approximately $566.5 million of revenues is expected to be recognized from remaining performance obligations with approximately 55% over the next 12 months and the remainder thereafter.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

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, 2024	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from net loss per share attributable to common stockholders	12,015	15,955	17,262
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	6,866	10,137	12,773
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	5,074	5,799	4,471
Shares Issuable Related to Acquisition
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from net loss per share attributable to common stockholders	63	4	0
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	12	15	18

CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) shares in Thousands, $ in Thousands	Total	Initial Public Offering	Follow-On Public Offering	Convertible Preferred Stock	Convertible Preferred Stock Initial Public Offering	Common Stock	Common Stock Initial Public Offering	Common Stock Follow-On Public Offering	Additional Paid-in Capital	Additional Paid-in Capital Initial Public Offering	Additional Paid-in Capital Follow-On Public Offering	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning Balance at Jun. 30, 2021	$ (157,580)					$ 29			$ 128,943			$ (494)	$ (286,058)
Beginning Balance, shares at Jun. 30, 2021				19,034
Beginning Balance at Jun. 30, 2021				$ 144,148
Beginning Balance, shares at Jun. 30, 2021						29,445
Conversion of convertible preferred stock to common stock upon initial public offering		$ 144,148					$ 19			$ 144,129
Conversion of convertible preferred stock to common stock upon initial public offering, shares					(19,034)
Conversion of convertible preferred stock to common stock upon initial public offering					$ (144,148)
Conversion of convertible preferred stock to common stock upon initial public offering, shares							19,034
Issuance of common stock, net of offering costs / issuance costs		$ 282,991					$ 12			$ 282,979
Issuance of common stock, net of offering costs / issuance costs, shares							12,075
Issuance of common stock upon exercise of stock options	10,211					$ 2			10,209
Issuance of common stock upon exercise of stock options, shares						1,565
Vesting of early exercised stock options	2,214								2,214
Vesting of performance stock units and restricted stock units, net of shares withheld for taxes	(3,923)					$ 1			(3,924)
Vesting of performance stock and restricted stock units, net of shares withheld for taxes, shares						551
Issuance of common stock under employee stock purchase plan	1,163								1,163
Issuance of common stock under employee stock purchase plan, shares						69
Stock-based compensation	77,514								77,514
Foreign currency translation adjustments	(1,178)											(1,178)
Net loss	(99,678)												(99,678)
Ending Balance at Jun. 30, 2022	255,882					$ 63			643,227			(1,672)	(385,736)
Ending 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					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

Stockholders' Equity and Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Jul. 01, 2024	Jul. 02, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Preferred stock convertible terms	all outstanding shares of Series A and Series A-1 convertible preferred stock were automatically converted into 19,034,437 shares of the Company’s common stock on a one-for-one basis.
Preferred stock convertible shares issuable					19,034,437
Shares issued upon conversion for each share					1
Proceeds from stock option exercises	$ 30,726	$ 23,456	$ 10,211
Income tax benefit (expense)	(2,115)	495	3,435
Unrecognized compensation cost related to unvested stock-based awards granted	$ 106,900
Unrecognized compensation cost related to unvested stock-based awards granted, weighted-average period for recognition	2 years 4 months 24 days
Stock-based Compensation Expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Income tax benefit (expense)	$ (1,100)	(700)	$ 0
2021 Omnibus Incentive Plan \| Subsequent Event
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares added				4,328,205
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
Weighted-average grant date fair value of options granted			$ 12.61
Total intrinsic value of options exercised	$ 86,700	61,300	$ 28,500
Proceeds from stock option exercises	$ 30,700	$ 23,500	$ 10,200
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	137,374	141,547
Unrecognized compensation costs	$ 600
ESPP \| Subsequent Event
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares added				865,641

Stockholders' Equity and Stock-Based Compensation (Tables)

12 Months Ended

Jun. 30, 2024

Stockholders Equity And Stock Based Compensation [Abstract]

Schedule of Shares of Common Stock Reserved for Future Issuance

As of June 30, 2024, shares of common stock reserved for future issuance were as follows (in thousands):


	June 30, 2024
Stock plans:
Outstanding stock options		6,866
Unvested PSUs and RSUs		5,074
Reserved for ESPP		2,764
Reserved for future stock award grants		5,516
Total shares of common stock reserved for issuance		20,220

Summary of Stock Option Activity

Stock option activity under the Company’s equity incentive plans during the fiscal years ended June 30, 2024 and 2023 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, 2022		12,773		$	10.56		6.5	$	65,284
Exercised		(2,313	)		10.14
Forfeited		(323	)		18.08
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
Vested and exercisable as of June 30, 2024		6,632		$	10.04		4.3	$	176,657
Vested and expected to vest as of June 30, 2024		6,866		$	10.40		4.4	$	180,360

(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, 2024 and 2023 was as follows (in thousands, except per share data):


	Number of Shares			Weighted- Average Grant Date Fair Value
Balance as of June 30, 2022		3,470		$	26.40
Granted		1,657			17.45
Vested		(1,196	)		23.67
Forfeited		(286	)		23.80
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

Schedule of RSU Activity

RSU activity during the fiscal years ended June 30, 2024 and 2023 was as follows (in thousands, except per share data):


	Number of Shares			Weighted- Average Grant Date Fair Value
Balance as of June 30, 2022		1,001		$	29.18
Granted		1,843			22.01
Vested		(517	)		25.15
Forfeited		(173	)		23.50
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

Summary of Stock-Based Compensation Expense

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


	Year Ended June 30,
	2024		2023		2022
Cost of revenues
Cost of SaaS and support	$	2,292	$	1,705	$	1,258
Cost of professional services		5,030		3,916		3,029
Research and development		14,854		15,186		17,166
Sales and marketing		17,312		20,426		25,428
General and administrative		20,407		26,536		30,633
Total stock-based compensation	$	59,895	$	67,769	$	77,514

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,
	2024			2023			2022
Expected dividend yield		0	%		0	%		0	%
Risk-free interest rate		5.4	%		4.9	%		0.7	%
Expected volatility		46	%		48	%		40	%
Expected term (in years)		0.5			0.7			1.2

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Basis of Presentation and Principles of Consolidation

The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“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.

Use of Estimates

The preparation of the accompanying consolidated financial statements in conformity with GAAP requires us 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 expected useful life of deferred commissions; the fair value of stock-based awards; 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; 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

Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources and assessing performance. The Company’s Chief Executive Officer is the Company’s CODM. The CODM reviews financial information presented on a consolidated basis for 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 Company’s property and equipment are primarily located in the U.S. Information about geographic revenues is included in Note 3.

Revenue Recognition

The Company’s revenues are derived from the sale of its SaaS solutions and subscriptions to its term software applications, including support services, as well as the provision of professional services for the implementation of our 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 and Support Revenue

SaaS and Support revenues include subscription fees from clients accessing our SaaS solutions, premium support services related to SaaS and subscription licenses, and updates, if any, to the subscribed service during the subscription term. The Company recognizes SaaS and Support 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 our clients. The Company’s contracts with clients typically include a fixed amount of consideration and are generally non-cancellable 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 our 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.

Subscription License Revenue

Subscription license revenue include subscription fees from providing clients with the right to functional intellectual property where clients can benefit from the subscription licenses on their own. Subscription license revenue is recognized at a point in time when control of our term software application is transferred to the client, which generally occurs at the time of delivery or upon commencement of the renewal term. 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 our 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 standalone selling price 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.

Contract Costs

Contract costs consist of two components, client acquisition costs and costs to fulfill a contract. The Company’s client acquisition costs consist primarily of commissions paid to its sales team. Commissions related to client acquisition and SaaS and support revenues are capitalized and amortized on a straight-line basis over the expected benefit period of up to four years. Commissions related to subscription licenses are expensed when control of the license is transferred to clients. The Company determines the expected useful life based on an estimated benefit period by evaluating our technology development life cycle, expected client relationship period and other factors. Amortization of deferred commissions is included in sales and marketing expense in the consolidated statements of operations.

Costs to fulfill a contract, or fulfillment costs, are only capitalized if they relate directly to a contract with a client, the costs generate or enhance resources that will be used to satisfy performance obligations in the future, and the costs are expected to be recoverable. The Company has not capitalized any fulfillment costs as of June 30, 2024 and 2023.

Cost of Revenues

Cost of revenues consists primarily of costs related to providing SaaS and professional services to the Company’s clients, including personnel costs (salaries, bonuses and 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 software development costs and amortization associated with acquired intangible assets, and allocated overhead. The Company does not have any cost of revenues related to subscription licenses.

Research and Development Costs

Research and development costs comprise costs associated with the development of software products for sale. Research and development costs related to the development of software products for sale are charged to expense until technological feasibility has been established. Costs incurred thereafter are capitalized until the product is generally made available. The Company considers technological feasibility to be reached at approximately the same time a product is generally available to clients. The major components of research and development costs include salaries, bonuses and benefits, stock-based compensation, costs of third-party services, and allocations of various overhead and occupancy costs.

Advertising Costs

Advertising costs are expensed as incurred. Advertising expense was $1.5 million, $1.3 million and $1.3 million for fiscal years ended June 30, 2024, 2023 and 2022, 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 stock option awards and stock purchase rights under the 2021 Employee Stock Purchase Plan (“ESPP”) using the Black-Scholes option pricing model, and restricted stock units based on the fair value of the Company’s common stock on the date of grant. 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.

This valuation model for stock-based compensation expense 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 and an assumed risk-free interest rate. No compensation cost is recorded for stock-based awards that do not vest.

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 issued performance-based stock options and performance-based stock units that vest based upon continued service through the vesting term and achievement of certain operating performance targets, including annual recurring revenues and annual contract value targets 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 fair value 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 the portion of expense recognized in any period may fluctuate depending on changing estimates of the achievement of the performance conditions.

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 three months 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 $78.7 million as of June 30, 2024. There were no cash equivalents as of June 30, 2023.

Accounts Receivable and Allowance for Expected Credit Losses

Accounts receivable are recorded at invoiced amounts, net of allowance for expected credit losses. The Company evaluates the collectability of its accounts receivable based on known collection risks, historical experience and forecasts of future collectability, and maintains an allowance for expected credit losses for estimated losses resulting from its clients failing to make required payments for subscriptions or services rendered. Sufficiency of the allowance is assessed based upon knowledge of credit-worthiness of our 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 significant 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. 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 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.

Capitalized Internal-Use Software

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 our hosted SaaS products are capitalized during the application development stage. Once the products are available for general release, capitalized costs are amortized to cost of revenue on a straight-line basis over its estimated useful life, which is generally four years. Capitalized internal-use software costs are recorded in property and equipment on the Company’s consolidated balance sheets.

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 a reporting unit is less than its carrying amount. If, as a result of its qualitative assessment, the carrying amount of the reporting unit is more than its fair value, an impairment charge in the amount of such excess is recorded to goodwill.

Intangible assets resulting from the acquisition of entities are estimated by the Company based on the fair value of assets received. The fair value of intangible assets was derived based on the income approach. This fair value measurement is based on significant inputs that are not observable in the market. Key assumptions utilized in management’s analysis included revenues and expense forecasts based on trends of historical performance and management’s estimate of future performance, and estimated future cash flows discounted using a weighted-average cost of capital.

Acquired intangible assets consist of client relationships, non-compete agreements, trademarks and trade names, core technology and backlog. Certain assets are being amortized on a straight-line basis over the period of expected benefit with no calculated residual value, as follows:



Description	Period

Client relationships	9 to 15 years

Non-compete agreements	3 to 5 years

Trademarks and trade names	5 years to indefinite

Core technology	2 to 7 years

Backlog	2 years

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. The Company uses best estimates and assumptions to assign fair value to tangible and intangible assets acquired and liabilities assumed at the acquisition date. 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.

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. For short-term leases, the Company records rent expense in its consolidated statements of operations on a straight-line basis over the lease term and records variable lease payments as incurred.

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 our 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 (deficit) as a component of accumulated other comprehensive loss.

Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are recorded as foreign currency transaction adjustments within interest and other income (expense) 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 (deficit), 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.

Concentrations of Credit Risk and Significant Clients

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash 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 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, 2024, 2023 and 2022. As of June 30, 2024 and 2023, one client individually accounted for 16% and 15% 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 June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments – Credit Losses, which requires the establishment of an allowance for estimated credit losses on financial assets, including trade and other receivables, at each reporting date. The Company adopted this guidance on July 1, 2023 on a modified retrospective basis. The adoption did not have a material impact on its consolidated financial statements.

Accounting Pronouncements Not Yet Adopted

In November 2023, the FASB issued 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. This guidance will be effective for the Company’s annual report for fiscal year beginning July 1, 2024, and should be applied on a retrospective basis to all periods presented. The Company is currently evaluating the impact of the adoption on its disclosures.

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.

Income Taxes

12 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

Note 12. Income Taxes

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


	Year Ended June 30,
	2024			2023			2022
U.S.	$	(34,220	)	$	(72,871	)	$	(104,391	)
Foreign		4,314			2,951			1,278
Total	$	(29,906	)	$	(69,920	)	$	(103,113	)

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


	Year Ended June 30,
	2024			2023			2022
Current:
Federal	$	—		$	(246	)	$	(48	)
State		1,307			226			278
Foreign		830			437			572
		2,137			417			802
Deferred:
Federal		—			(154	)		137
State		34			(327	)		131
Foreign		(56	)		(431	)		(4,505	)
		(22	)		(912	)		(4,237	)
Income tax expense (benefit)	$	2,115		$	(495	)	$	(3,435	)

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,
	2024			2023			2022
Federal tax expense (benefit):
At statutory rate	$	(6,280	)	$	(14,683	)	$	(21,654	)
State tax (net of federal benefit)		935			192			140
Research and development credits		(2,943	)		(1,888	)		1,019
Stock-based compensation		(9,364	)		(3,311	)		6,828
Acquisition-related transaction costs		162			254			53
Change in valuation allowance		19,448			20,764			10,802
Other		157			(1,823	)		(623	)
Income tax expense (benefit)	$	2,115		$	(495	)	$	(3,435	)

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


	June 30,
	2024			2023
Deferred tax assets:
Nondeductible accrued expenses	$	3,243		$	2,658
Net operating loss carryforwards		31,153			29,054
Research and development credits		9,551			6,634
Section 174 capitalization		47,930			22,934
Stock-based compensation		7,437			11,079
Interest carryforwards		13,765			14,342
Deferred revenue		588			709
Other		67			234
Valuation allowance		(100,543	)		(71,911	)
Total deferred tax assets		13,191			15,733
Deferred tax liabilities:
Deferred commissions		(6,614	)		(5,906	)
Fixed assets		(3,089	)		(2,479	)
Intangible assets		(4,196	)		(8,090	)
Total deferred tax liabilities		(13,899	)		(16,475	)
Net deferred tax liabilities	$	(708	)	$	(742	)

As of June 30, 2024, the Company has federal, California and other state net operating loss carryforwards of approximately $107.8 million, $49.0 million and $60.6 million, respectively, which expire beginning in the year 2034 for federal and 2029 for California.

As of June 30, 2024, the Company has federal and state research credits carryforwards of approximately $11.7 million and $5.2 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, 2024 and 2023, 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 $100.5 million and $71.9 million, respectively, to reduce the carrying value of its deferred tax assets.

At June 30, 2024, 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 $26.2 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, 2024 and 2023, 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 2018 through 2023.

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


	June 30,
	2024		2023		2022
Beginning of the year, unrecognized tax benefits	$	5,311	$	3,811	$	2,970
Increases, prior year tax positions		173		532		396
Increases, current year tax positions		1,392		968		445
End of the year, unrecognized tax benefits	$	6,876	$	5,311	$	3,811

As of June 30, 2024 and 2023, unrecognized tax benefits approximated $6.9 million and $5.3 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, 2024.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Section S99
-Paragraph 1
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Leases - Schedule of Components of Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Lease, Cost [Abstract]
Operating lease cost	$ 6,353	$ 6,113
Short-term lease cost	1,290	843
Variable lease cost	$ 455	$ 0

Commitments and Contingencies

12 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 9. Commitments and Contingencies

Other Purchase Commitments


Year ending June 30,	Amount
2025	$	5,459
2026		3,106
2027		2,816
2028		2,879
2029		800
2030 and thereafter		1,600
Total purchase commitments	$	16,660

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, 2024, the Company had $94.7 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, if determined adversely to the Company, would individually or in the aggregate have a material adverse effect on the business, operating results, or financial condition.

Description of Business

12 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of Business

Note 1. Description of Business

Intapp, Inc. (“Intapp” or the “Company”), formerly known as LegalApp Holdings, Inc., was incorporated in Delaware in November 2012. The Company is a holding company and conducts its operations through its wholly-owned subsidiary, Integration Appliance, Inc.

Intapp is a leading global provider of AI-powered solutions for professionals at advisory, capital markets and legal firms. The Company empowers the world’s premier accounting, consulting, investment banking, legal, private capital and real assets firms with the technology they need to operate more competitively, deliver timely insights to their professionals, and meet rapidly changing client, investor, and regulatory requirements. Using the power of Applied AI, its purpose-built vertical software as a service (“SaaS”) solutions accelerate the flow of information firmwide, activate expertise, empower teams, strengthen client relationships, manage risk, and help firms 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,” “us,” “we,” or “our” in these consolidated financial statements refer to the consolidated operations of Intapp and its consolidated subsidiaries.

Stockholders' Equity and Stock-Based Compensation - Summary of Fair Value of ESPP Shares with Weighted-Average Assumptions (Details) - ESPP	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected dividend yield	0.00%	0.00%	0.00%
Risk-free interest rate	5.40%	4.90%	0.70%
Expected volatility	46.00%	48.00%	40.00%
Expected life (in years)	6 months	8 months 12 days	1 year 2 months 12 days

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Income Taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Unrecognized Tax Benefits [Roll Forward]
Beginning of the year, unrecognized tax benefits	$ 5,311	$ 3,811	$ 2,970
Increases, prior year tax positions	173	532	396
Increases, current year tax positions	1,392	968	445
End of the year, unrecognized tax benefits	$ 6,876	$ 5,311	$ 3,811

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Schedule of Intangible Assets Amortized on Straight Line Basis

Certain assets are being amortized on a straight-line basis over the period of expected benefit with no calculated residual value, as follows:



Description	Period

Client relationships	9 to 15 years

Non-compete agreements	3 to 5 years

Trademarks and trade names	5 years to indefinite

Core technology	2 to 7 years

Backlog	2 years

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


	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


	June 30, 2023
	Useful Life (In years)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Client relationships	9 to 15	$	48,900	$	(24,341	)	$	24,559
Non-compete agreements	3 to 5		4,907		(3,383	)		1,524
Trademarks and trade names	Indefinite		4,683		—			4,683
Trademarks and trade names	5 to 10		7,822		(5,270	)		2,552
Core technology	4 to 6		52,519		(43,275	)		9,244
Backlog	2		1,000		(305	)		695
Intangible assets, net		$	119,831	$	(76,574	)	$	43,257

Revenues (Tables)

12 Months Ended

Jun. 30, 2024

Revenue Recognition [Abstract]

Summary of Revenues by Geography

Revenues by geography were as follows (in thousands):


	Year Ended June 30,
	2024		2023		2022
U.S.	$	292,009	$	243,237	$	188,971
U.K.		64,199		54,326		45,025
Rest of the world		74,315		53,310		38,075
Total	$	430,523	$	350,873	$	272,071

Summary of Deferred Commissions Activity

The following table summarizes the activity of deferred commissions (in thousands):


	Year Ended June 30,
	2024			2023
Beginning balance	$	28,336		$	24,942
Additions		18,856			16,242
Recognition of deferred commissions		(14,790	)		(12,848	)
Ending balance	$	32,402		$	28,336

Summary of Contract Assets and Liabilities

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


	June 30, 2024		June 30, 2023
Unbilled accounts receivable(1)	$	13,363	$	10,765
Deferred revenue, net		222,486		192,397

(1) The long-term portion of $63 and $104 as of June 30, 2024 and 2023, respectively, is included in other assets on the consolidated balance sheets.

Property and Equipment - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Property Plant And Equipment [Line Items]
Property and equipment, Gross	$ 35,559	$ 27,984
Less: accumulated depreciation and amortization	(16,615)	(11,618)
Property and equipment, net	18,944	16,366
Computer Equipment and Software
Property Plant And Equipment [Line Items]
Property and equipment, Gross	3,691	2,290
Capitalized Internal-Use Software
Property Plant And Equipment [Line Items]
Property and equipment, Gross	23,701	16,978
Furniture and Office Equipment
Property Plant And Equipment [Line Items]
Property and equipment, Gross	2,403	2,433
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, Gross	5,601	5,897
Construction in Progress
Property Plant And Equipment [Line Items]
Property and equipment, Gross	$ 163	$ 386

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Allowance for doubtful accounts	$ 1,406	$ 994
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	74,624,000	68,574,000
Common stock, shares outstanding	74,624,000	68,574,000

Revenues - Additional Information (Details)	12 Months Ended
Revenues - Additional Information (Details)	Jun. 30, 2024 USD ($) Country	Jun. 30, 2023 USD ($) Country	Jun. 30, 2022 Country
Disaggregation Of Revenue [Line Items]
Allowance for doubtful accounts associated with unbilled receivables	$ 0	$ 0
Revenue recognized pertaining to deferred revenue	190,400,000
Remaining performance obligations	$ 566,500,000
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

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Business Combinations - Summary of Allocation of Consideration To Fair Value of Assets Acquired And Liabilities Assumed (Details) - USD ($) $ in Thousands	May 01, 2024	Apr. 03, 2024	May 02, 2023	Jun. 13, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Business Acquisition [Line Items]
Goodwill					$ 285,969	$ 278,890	$ 269,103
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
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 \| 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 \| Paragon
Business Acquisition [Line Items]
Finite lived intangibles			1,300
Client Relationships \| Billstream
Business Acquisition [Line Items]
Finite lived intangibles				6,600
Backlog \| Paragon
Business Acquisition [Line Items]
Finite lived intangibles			$ 500
Backlog \| Billstream
Business Acquisition [Line Items]
Finite lived intangibles				$ 500

Fair Value Measurements (Tables)

12 Months Ended

Jun. 30, 2024

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, 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, 2024
	Level 1		Level 2		Level 3		Total
Financial Liabilities:
Liability for contingent consideration, current portion	$	—	$	—	$	2,405	$	2,405
Liability for contingent consideration, non-current portion		—		—		153		153
Total financial liabilities	$	—	$	—	$	2,558	$	2,558

	June 30, 2023
	Level 1		Level 2		Level 3		Total
Financial Liabilities:
Liability for contingent consideration, current portion	$	—	$	—	$	2,364	$	2,364
Liability for contingent consideration, non-current portion	—			—		4,317		4,317
Total financial liabilities	$	—	$	—	$	6,681	$	6,681

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. The fair value was measured based on the probability of achieving certain performance measures pursuant to the acquisition agreement. In addition, the Company is obligated to pay up to $0.9 million in cash on achievement of certain performance measures and continued employment or service with the Company or its subsidiaries. The fair value of $0.9 million in future compensation costs are accounted for as post-combination compensation costs to be recognized over the required service period.

Schedule of Changes in Fair Value of Contingent Consideration Liabilities

Changes in the fair value of contingent consideration liabilities during fiscal years ended June 30, 2024 and 2023 were as follows (in thousands):


	Year Ended June 30,
	2024			2023
Balance, beginning of period	$	6,681		$	13,835
Contingent consideration accrued at acquisition		152			4,317
Payment of contingent consideration		(985	)		(9,299	)
Change in fair value of contingent consideration		(3,290	)		(1,762	)
Effect of foreign currency exchange rate changes		—			(410	)
Balance, end of period	$	2,558		$	6,681

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Components of Loss Before Income Taxes

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


	Year Ended June 30,
	2024			2023			2022
U.S.	$	(34,220	)	$	(72,871	)	$	(104,391	)
Foreign		4,314			2,951			1,278
Total	$	(29,906	)	$	(69,920	)	$	(103,113	)

Schedule of Income Tax Expense (Benefit)

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


	Year Ended June 30,
	2024			2023			2022
Current:
Federal	$	—		$	(246	)	$	(48	)
State		1,307			226			278
Foreign		830			437			572
		2,137			417			802
Deferred:
Federal		—			(154	)		137
State		34			(327	)		131
Foreign		(56	)		(431	)		(4,505	)
		(22	)		(912	)		(4,237	)
Income tax expense (benefit)	$	2,115		$	(495	)	$	(3,435	)

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,
	2024			2023			2022
Federal tax expense (benefit):
At statutory rate	$	(6,280	)	$	(14,683	)	$	(21,654	)
State tax (net of federal benefit)		935			192			140
Research and development credits		(2,943	)		(1,888	)		1,019
Stock-based compensation		(9,364	)		(3,311	)		6,828
Acquisition-related transaction costs		162			254			53
Change in valuation allowance		19,448			20,764			10,802
Other		157			(1,823	)		(623	)
Income tax expense (benefit)	$	2,115		$	(495	)	$	(3,435	)

Significant Deferred Tax Assets and Liabilities

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


	June 30,
	2024			2023
Deferred tax assets:
Nondeductible accrued expenses	$	3,243		$	2,658
Net operating loss carryforwards		31,153			29,054
Research and development credits		9,551			6,634
Section 174 capitalization		47,930			22,934
Stock-based compensation		7,437			11,079
Interest carryforwards		13,765			14,342
Deferred revenue		588			709
Other		67			234
Valuation allowance		(100,543	)		(71,911	)
Total deferred tax assets		13,191			15,733
Deferred tax liabilities:
Deferred commissions		(6,614	)		(5,906	)
Fixed assets		(3,089	)		(2,479	)
Intangible assets		(4,196	)		(8,090	)
Total deferred tax liabilities		(13,899	)		(16,475	)
Net deferred tax liabilities	$	(708	)	$	(742	)

Summary of Unrecognized Tax Benefits

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


	June 30,
	2024		2023		2022
Beginning of the year, unrecognized tax benefits	$	5,311	$	3,811	$	2,970
Increases, prior year tax positions		173		532		396
Increases, current year tax positions		1,392		968		445
End of the year, unrecognized tax benefits	$	6,876	$	5,311	$	3,811

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, 2024	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net loss	$ (32,021)	$ (69,425)	$ (99,678)
Denominator:
Weighted-average shares used to compute net loss per share, basic	71,488	64,295	61,267
Weighted-average shares used to compute net loss per share, diluted	71,488	64,295	61,267
Net loss per share, basic
Basic	$ (0.45)	$ (1.08)	$ (1.63)
Net loss per share, diluted
Diluted	$ (0.45)	$ (1.08)	$ (1.63)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Leases - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
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	$ 1.6
Option to extend, description	additional 12 months through August 2025
Option to extend	true
Lease expiration year	Aug. 31, 2025
Adjustment of ROU asset and lease liability	$ 2.2	2.5
Operating lease liability	$ 6.0	$ 4.7
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current	Other Liabilities, Current
Operating lease, rent expense			$ 9.0

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (32,021)	$ (69,425)	$ (99,678)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Goodwill and Intangible Assets - Additional Information (Details) - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Goodwill [Line Items]
Purchase price adjustment	$ 0	$ 784,000
Impairment of goodwill	0	0	$ 0
Impairment of intangible assets	$ 0	0	$ 0
Billstream
Goodwill [Line Items]
Purchase price adjustment		$ 800,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Debt

12 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Debt

Note 10. 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 secured overnight financing rate (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, 2024.

As of June 30, 2024, there were no outstanding borrowings under the JPMorgan Credit Facility.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Stockholders' Equity and Stock-Based Compensation

12 Months Ended

Jun. 30, 2024

Stockholders Equity And Stock Based Compensation [Abstract]

Stockholders' Equity and Stock-Based Compensation

Note 11. Stockholders’ Equity and Stock-Based Compensation

On July 2, 2021, upon the closing of the IPO, all outstanding shares of Series A and Series A-1 convertible preferred stock were automatically converted into 19,034,437 shares of the Company’s common stock on a one-for-one basis.

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 2021 Employee Stock Purchase Plan (“ESPP”). The 2021 Plan provides for the grant of restricted shares, restricted share units (“RSUs”), performance shares, performance share units (“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, 2024, 4,328,205 and 865,641 shares were added to the 2021 Plan and ESPP, respectively.

As of June 30, 2024, shares of common stock reserved for future issuance were as follows (in thousands):


	June 30, 2024
Stock plans:
Outstanding stock options		6,866
Unvested PSUs and RSUs		5,074
Reserved for ESPP		2,764
Reserved for future stock award grants		5,516
Total shares of common stock reserved for issuance		20,220

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. The exercise price of stock options granted under the Plan after the IPO was determined based on the fair market value of Company’s common stock on the date of grant.

Stock option activity under the Company’s equity incentive plans during the fiscal years ended June 30, 2024 and 2023 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, 2022		12,773		$	10.56		6.5	$	65,284
Exercised		(2,313	)		10.14
Forfeited		(323	)		18.08
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
Vested and exercisable as of June 30, 2024		6,632		$	10.04		4.3	$	176,657
Vested and expected to vest as of June 30, 2024		6,866		$	10.40		4.4	$	180,360

There were no stock options granted during the fiscal years ended June 30, 2024 and June 30, 2023. The weighted-average grant date fair value of options granted during the fiscal year ended June 30, 2022 was $12.61. The total intrinsic value of stock options exercised during the fiscal years ended June 30, 2024, 2023 and 2022 was $86.7 million, $61.3 million and $28.5 million, respectively.

During the fiscal years ended June 30, 2024, 2023 and 2022, the proceeds from option exercises totaled $30.7 million, $23.5 million and $10.2 million, respectively.

PSUs and RSUs

During the fiscal year ended June 30, 2024, the Company granted PSUs to certain of its employees with vesting terms based on meeting certain operating performance targets, including annual recurring revenue and 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, 2024 and 2023 was as follows (in thousands, except per share data):


	Number of Shares			Weighted- Average Grant Date Fair Value
Balance as of June 30, 2022		3,470		$	26.40
Granted		1,657			17.45
Vested		(1,196	)		23.67
Forfeited		(286	)		23.80
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

RSU activity during the fiscal years ended June 30, 2024 and 2023 was as follows (in thousands, except per share data):


	Number of Shares			Weighted- Average Grant Date Fair Value
Balance as of June 30, 2022		1,001		$	29.18
Granted		1,843			22.01
Vested		(517	)		25.15
Forfeited		(173	)		23.50
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

Stock-Based Compensation Expense

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


	Year Ended June 30,
	2024		2023		2022
Cost of revenues
Cost of SaaS and support	$	2,292	$	1,705	$	1,258
Cost of professional services		5,030		3,916		3,029
Research and development		14,854		15,186		17,166
Sales and marketing		17,312		20,426		25,428
General and administrative		20,407		26,536		30,633
Total stock-based compensation	$	59,895	$	67,769	$	77,514

The Company recognized related income tax benefit of $1.1 million and $0.7 million for the fiscal years ended June 30, 2024 and 2023, respectively. The related income tax benefit recognized for the fiscal year ended June 30, 2022 was not significant.

As of June 30, 2024, there was approximately $106.9 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 2.4 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, 2024 and 2023, 137,374 shares and 141,547 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,
	2024			2023			2022
Expected dividend yield		0	%		0	%		0	%
Risk-free interest rate		5.4	%		4.9	%		0.7	%
Expected volatility		46	%		48	%		40	%
Expected term (in years)		0.5			0.7			1.2

As of June 30, 2024, total unrecognized compensation cost related to the ESPP was $0.6 million, which will be amortized over a weighted-average vesting term of 0.4 years.

Leases - Schedule of Remaining Maturities of Operating Lease Liabilities And Future Minimum Lease Payments (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Leases [Abstract]
2025	$ 7,558
2026	5,273
2027	4,324
2028	4,617
2029	5,032
2030 and thereafter	3,760
Total lease payments	30,564
Less: imputed interest	(4,956)
Present value of operating lease liabilities	$ 25,608

Fair Value Measurements

12 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 6. Fair Value Measurements

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, 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


	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, non-current portion		—		—		153		153
Total financial liabilities	$	—	$	—	$	2,558	$	2,558

	June 30, 2023
	Level 1		Level 2		Level 3		Total
Financial Liabilities:
Liability for contingent consideration, current portion	$	—	$	—	$	2,364	$	2,364
Liability for contingent consideration, non-current portion	—			—		4,317		4,317
Total financial liabilities	$	—	$	—	$	6,681	$	6,681

In connection with the acquisition of Paragon, 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 liability of $4.3 million was included in other liabilities on the consolidated balance sheet as of June 30, 2023. The fair value of the contingent consideration was re-measured at $2.4 million and was included in other current liabilities on the consolidated balance sheet as of June 30, 2024.

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.

In connection with the acquisition of Repstor Limited (“Repstor”) in June 2021, the Company recorded contingent consideration liabilities representing the amounts payable to former Repstor shareholders based upon the achievement of certain performance measures. During the fiscal year ended June 30, 2023, the Company paid $9.3 million in full consideration for the remaining contingent consideration.

The fair value of the contingent consideration was initially estimated on the acquisition date 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 of the contingent consideration liabilities, resulting from management’s revision of key assumptions and estimates, have been recorded in general and administrative expenses in the consolidated statements of operations. Gains and losses arising from exchange rate fluctuation on these liabilities not denominated in U.S. dollars have been included in interest and other income (expense), net on the consolidated statements of operations.

Changes in the fair value of contingent consideration liabilities during fiscal years ended June 30, 2024 and 2023 were as follows (in thousands):


	Year Ended June 30,
	2024			2023
Balance, beginning of period	$	6,681		$	13,835
Contingent consideration accrued at acquisition		152			4,317
Payment of contingent consideration		(985	)		(9,299	)
Change in fair value of contingent consideration		(3,290	)		(1,762	)
Effect of foreign currency exchange rate changes		—			(410	)
Balance, end of period	$	2,558		$	6,681

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.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Leases - Schedule of Weighted Average Operating Leases Term and Discount Rate (Details)	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Weighted-average remaining lease term (in years)	5 years 3 months 18 days	6 years
Weighted-average discount rate	7.00%	7.10%

Debt - Additional Information (Details) - JP Morgan Credit Agreement	Oct. 05, 2021 USD ($)	Jun. 30, 2024 USD ($)
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

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (32,021)	$ (69,425)	$ (99,678)
Other comprehensive income (loss):
Foreign currency translation adjustments	3	333	(1,178)
Other comprehensive income (loss):	3	333	(1,178)
Comprehensive loss	$ (32,018)	$ (69,092)	$ (100,856)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Leases - Schedule of Components of Lease Costs (Parenthetical) (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Lease, Cost [Abstract]
Net impairment charge related to right-of-use lease assets	$ 1.6	$ 1.6

Goodwill and Intangible Assets - Schedule of Estimated Future Amortization Expense for Acquired Intangible Assets (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 11,163
2026	7,835
2027	5,121
2028	4,623
2029	3,252
2030 and thereafter	3,616
Net carrying amount	$ 35,610

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions		12 Months Ended
	May 01, 2024	Jun. 30, 2024	Jun. 30, 2023	May 02, 2023	Jun. 13, 2022
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	$ 2.4
Other Liabilities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value of contingent consideration liabilities, non-current			4.3
TDI
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Business combination, contingent consideration, liability	$ 0.2
Fair value of future compensation costs	0.9
TDI \| Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Obligation to pay up	$ 0.9
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 Liabilities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Business combination, contingent consideration, liability					$ 4.1
Repstor
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Payment of contingent consideration			$ 9.3

Revenues - Summary of Contract Assets and Liabilities (Details) - USD ($)
$ in Thousands

Jun. 30, 2024

Jun. 30, 2023

Revenue Recognition [Abstract]

Unbilled accounts receivable

^[1]

$ 13,363

$ 10,765

Deferred revenue, net

$ 222,486

$ 192,397

[1]	The long-term portion of $63 and $104 as of June 30, 2024 and 2023, respectively, is included in other assets on the consolidated balance sheets.

Fair Value Measurements - Summary of Financial Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Recurring Basis - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Liabilities:
Liability for contingent consideration, current portion	$ 2,405	$ 2,364
Liability for contingent consideration, non-current portion	153	4,317
Total financial liabilities	2,558	6,681
Level 1
Liabilities:
Liability for contingent consideration, current portion	0	0
Liability for contingent consideration, non-current portion	0	0
Total financial liabilities	0	0
Level 2
Liabilities:
Liability for contingent consideration, current portion	0	0
Liability for contingent consideration, non-current portion	0	0
Total financial liabilities	0	0
Level 3
Liabilities:
Liability for contingent consideration, current portion	2,405	2,364
Liability for contingent consideration, non-current portion	153	4,317
Total financial liabilities	$ 2,558	$ 6,681

Commitments and Contingencies - Schedule of Future Minimum Payments under Non-Cancelable Purchase Commitments (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2025	$ 5,459
2026	3,106
2027	2,816
2028	2,879
2029	800
2030 and thereafter	1,600
Total purchase commitments	$ 16,660

Revenues - Summary of Revenues by Geography (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Disaggregation Of Revenue [Line Items]
Total revenues	$ 430,523	$ 350,873	$ 272,071
U.S.
Disaggregation Of Revenue [Line Items]
Total revenues	292,009	243,237	188,971
U.K.
Disaggregation Of Revenue [Line Items]
Total revenues	64,199	54,326	45,025
Rest of the World
Disaggregation Of Revenue [Line Items]
Total revenues	$ 74,315	$ 53,310	$ 38,075

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Business Combinations

12 Months Ended

Jun. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Business Combinations

Note 4. Business Combinations

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 immaterial.

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.

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.

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 immaterial.

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.

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 immaterial.

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.

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

Leases - Schedule of Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Cash payments included in the measurement of operating lease liabilities	$ 5,847	$ 7,582
ROU assets obtained in exchange for new operating lease liabilities	$ 8,983	$ 3,253

Income Taxes - Schedule of Statutory Federal Income Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Effective Income Tax Rate Reconciliation, Percent [Abstract]
At statutory rate	$ (6,280)	$ (14,683)	$ (21,654)
State tax (net of federal benefit)	935	192	140
Research and development credits	(2,943)	(1,888)	1,019
Stock-based compensation	(9,364)	(3,311)	6,828
Acquisition-related transaction costs	162	254	53
Change in valuation allowance	19,448	20,764	10,802
Other	157	(1,823)	(623)
Income tax expense (benefit)	$ 2,115	$ (495)	$ (3,435)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 4: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.7)
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-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-10

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 22
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.7-04(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482659/740-20-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h))
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Income Taxes - Schedule of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Current:
Federal	$ 0	$ (246)	$ (48)
State	1,307	226	278
Foreign	830	437	572
Current income tax (benefit) expense	2,137	417	802
Deferred:
Federal	0	(154)	137
State	34	(327)	131
Foreign	(56)	(431)	(4,505)
Deferred income tax (benefit) expense	(22)	(912)	(4,237)
Income tax expense (benefit)	$ 2,115	$ (495)	$ (3,435)

Stockholders' Equity and Stock-Based Compensation - Schedule of PSU Activity (Details) - PSU - $ / shares shares in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Beginning balance	3,645	3,470
Number of Shares, Granted	1,229	1,657
Number of Shares, Vested	(1,911)	(1,196)
Number of Shares, Forfeited	(413)	(286)
Number of Shares, Ending balance	2,550	3,645
Weighted-Average Grant Date Fair Value, Beginning balance	$ 23.43	$ 26.4
Weighted-Average Grant Date Fair Value, Granted	38.82	17.45
Weighted-Average Grant Date Fair Value, Vested	24.64	23.67
Weighted-Average Grant Date Fair Value, Forfeited	26.23	23.8
Weighted-Average Grant Date Fair Value, Ending balance	$ 29.48	$ 23.43

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, 2024	Jun. 30, 2023
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Balance, beginning of period	$ 6,681	$ 13,835
Contingent consideration accrued at acquisition	152	4,317
Payment of contingent consideration	(985)	(9,299)
Change in fair value of contingent consideration	(3,290)	(1,762)
Effect of foreign currency exchange rate changes	0	(410)
Balance, end of period	$ 2,558	$ 6,681

Employee Benefit Plans - Additional Information (Details) - USD ($) $ in Millions		12 Months Ended
	Dec. 22, 2012	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Retirement Benefits [Abstract]
Percentage of compensation	100.00%
Matching contributions, vesting percentage	100.00%
Employer discretionary and matching contribution amount		$ 4.3	$ 3.8	$ 3.0
Defined contribution plan, employee pension contribution expenses		$ 2.4	$ 1.7	$ 1.3

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 208,370	$ 130,377
Restricted cash	200	808
Accounts receivable, net of allowance of $1,406 and $994 as of June 30, 2024 and 2023, respectively	95,103	92,973
Unbilled receivables, net	13,300	10,661
Other receivables, net	2,743	878
Prepaid expenses	9,031	7,335
Deferred commissions, current	13,907	11,807
Total current assets	342,654	254,839
Property and equipment, net	18,944	16,366
Operating lease right-of-use assets	21,382	17,180
Goodwill	285,969	278,890
Intangible assets, net	40,293	43,257
Deferred commissions, noncurrent	18,495	16,529
Other assets	5,262	1,846
Total assets	732,999	628,907
Current liabilities:
Accounts payable	13,348	6,018
Accrued compensation	42,066	39,761
Accrued expenses	12,040	11,626
Deferred revenue, net	218,923	191,042
Other current liabilities	14,270	10,902
Total current liabilities	300,647	259,349
Deferred tax liabilities	1,336	1,422
Deferred revenue, noncurrent	3,563	1,355
Operating lease liabilities, noncurrent	19,605	16,195
Other liabilities	4,610	9,378
Total liabilities	329,761	287,699
Commitments and contingencies (Note 9)
Stockholders' equity:
Preferred stock, $0.001 par value per share, 50,000 shares authorized; no shares issued or outstanding as of June 30, 2024 and 2023, respectively
Common stock, $0.001 par value per share, 700,000 shares authorized; 74,624 and 68,574 shares issued and outstanding as of June 30, 2024 and 2023, respectively	75	69
Additional paid-in capital	891,681	797,639
Accumulated other comprehensive loss	(1,336)	(1,339)
Accumulated deficit	(487,182)	(455,161)
Total stockholders' equity	403,238	341,208
Total liabilities and stockholders' equity	$ 732,999	$ 628,907

Goodwill and Intangible Assets

12 Months Ended

Jun. 30, 2024

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):


	Year Ended June 30,
	2024		2023
Balance, beginning of period	$	278,890	$	269,103
Goodwill acquired during the period		7,072		8,669
Purchase price adjustment		—		784
Foreign currency translation adjustment		7		334
Balance, end of period	$	285,969	$	278,890

During the fiscal year ended June 30, 2023, the Company recognized a purchase price adjustment of $0.8 million related to the Billstream business acquisition that occurred in June 2022, which increased goodwill and deferred consideration.

No impairment of goodwill has been recorded for the fiscal years ended June 30, 2024, 2023 and 2022.

Intangible Assets

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


	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


	June 30, 2023
	Useful Life (In years)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Client relationships	9 to 15	$	48,900	$	(24,341	)	$	24,559
Non-compete agreements	3 to 5		4,907		(3,383	)		1,524
Trademarks and trade names	Indefinite		4,683		—			4,683
Trademarks and trade names	5 to 10		7,822		(5,270	)		2,552
Core technology	4 to 6		52,519		(43,275	)		9,244
Backlog	2		1,000		(305	)		695
Intangible assets, net		$	119,831	$	(76,574	)	$	43,257

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


	Year Ended June 30,
	2024		2023		2022
Cost of SaaS and support	$	4,778	$	4,340	$	7,877
Sales and marketing		5,599		5,921		5,214
General and administrative		652		512		428
Total amortization expense	$	11,029	$	10,773	$	13,519

There was no impairment of intangible assets recorded during the fiscal years ended June 30, 2024, 2023 and 2022.

As of June 30, 2024, the estimated future amortization expense for acquired intangible assets is as follows (in thousands):


Fiscal Year Ending June 30,	Amount
2025	$	11,163
2026		7,835
2027		5,121
2028		4,623
2029		3,252
2030 and thereafter		3,616
Total remaining amortization	$	35,610

Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Finite Lived Intangible Assets [Line Items]
Accumulated amortization	$ (87,603)	$ (76,574)
Net carrying amount	35,610
Intangible assets gross carrying amount excluding goodwill	127,896	119,831
Intangible assets, net carrying amount excluding goodwill	40,293	43,257
Client Relationships
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	48,900	48,900
Accumulated amortization	(28,949)	(24,341)
Net carrying amount	$ 19,951	$ 24,559
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	(4,035)	(3,383)
Net carrying amount	$ 872	$ 1,524
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	$ 7,822	$ 7,822
Accumulated amortization	(5,773)	(5,270)
Net carrying amount	2,049	2,552
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	$ 60,584	$ 52,519
Accumulated amortization	(48,054)	(43,275)
Net carrying amount	$ 12,530	$ 9,244
Core Technology \| Minimum
Finite Lived Intangible Assets [Line Items]
Useful life (In years)	2 years	4 years
Core Technology \| Maximum
Finite Lived Intangible Assets [Line Items]
Useful life (In years)	7 years	6 years
Backlog
Finite Lived Intangible Assets [Line Items]
Useful life (In years)	2 years	2 years
Gross carrying amount	$ 1,000	$ 1,000
Accumulated amortization	(792)	(305)
Net carrying amount	$ 208	$ 695

Goodwill and Intangible Assets - Schedule of Amortization Expense Related to Acquired Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Finite Lived Intangible Assets [Line Items]
Total amortization expense	$ 11,029	$ 10,773	$ 13,519
Cost of SaaS and Support
Finite Lived Intangible Assets [Line Items]
Total amortization expense	4,778	4,340	7,877
Sales and Marketing
Finite Lived Intangible Assets [Line Items]
Total amortization expense	5,599	5,921	5,214
General and Administrative
Finite Lived Intangible Assets [Line Items]
Total amortization expense	$ 652	$ 512	$ 428

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 2.1	$ 1.6	$ 1.3
Capitalized costs to software development	6.8	5.9	4.2
Capitalized software amortization	3.6	2.9	$ 1.9
Net book value of capitalized software development costs	$ 13.5	$ 10.3

Income Taxes - Components of Loss Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]
U.S.	$ (34,220)	$ (72,871)	$ (104,391)
Foreign	4,314	2,951	1,278
Net loss before income taxes	$ (29,906)	$ (69,920)	$ (103,113)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
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-Name Accounting Standards Codification
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-Paragraph 32
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 30
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 270
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
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+ Details

Summary of Significant Accounting Policies

12 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 2. Summary of Significant Accounting Policies

Basis of Presentation and Principles of Consolidation

Use of Estimates

Segment Information

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

Revenue Recognition

•

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.

SaaS and Support Revenue

Subscription License Revenue

Professional Services Revenue

Contracts with Multiple Performance Obligations

Contract Modifications

Contract Balances

Contract Assets

Contract Liabilities

Contract Costs

Cost of Revenues

Research and Development Costs

Advertising Costs

Advertising costs are expensed as incurred. Advertising expense was $1.5 million, $1.3 million and $1.3 million for fiscal years ended June 30, 2024, 2023 and 2022, respectively.

Stock-Based Compensation

Restricted Cash

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

Cash and Cash Equivalents

Accounts Receivable and Allowance for Expected Credit Losses

Property and Equipment

Capitalized Internal-Use Software

Goodwill and Acquired Intangible Assets



Description	Period

Client relationships	9 to 15 years

Non-compete agreements	3 to 5 years

Trademarks and trade names	5 years to indefinite

Core technology	2 to 7 years

Backlog	2 years

Impairment Assessment of Long-lived Assets

Business Combinations

Fair Value of Financial Instruments

Leases

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

Foreign Currency

Accumulated Other Comprehensive Loss

Concentrations of Credit Risk and Significant Clients

Income Taxes

Net Loss Per Share

Recently Adopted Accounting Pronouncements

Accounting Pronouncements Not Yet Adopted

Property and Equipment

12 Months Ended

Jun. 30, 2024

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, 2024			June 30, 2023
Computer equipment and software	$	3,691		$	2,290
Capitalized internal-use software		23,701			16,978
Furniture and office equipment		2,403			2,433
Leasehold improvements		5,601			5,897
Construction in progress		163			386
Total property and equipment		35,559			27,984
Less: accumulated depreciation and amortization		(16,615	)		(11,618	)
Property and equipment, net	$	18,944		$	16,366

Depreciation expense, excluding the amortization of capitalized internal-use software costs, was $2.1 million, $1.6 million and $1.3 million for fiscal years ended June 30, 2024, 2023 and 2022, respectively.

The Company capitalized $6.8 million, $5.9 million and $4.2 million of costs related to software developed for internal use during the fiscal years ended June 30, 2024, 2023 and 2022, respectively. Amortization expense related to capitalized internal-use software was $3.6 million, $2.9 million and $1.9 million for fiscal years ended June 30, 2024, 2023 and 2022, respectively. The net book value of capitalized internal-use software was $13.5 million and $10.3 million as of June 30, 2024 and 2023, respectively.