Balance Sheet Components

12 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Components

5. Balance Sheet Components

Accounts Receivable, Net

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

	June 30, 2024			June 30, 2023
Accounts receivable	$	327,859		$	440,298
Customer rebates		(185,090	)		(222,246	)
Allowance for credit losses		(915	)		(882	)
Allowance for product returns		(52,336	)		(35,125	)
Accounts receivable, net	$	89,518		$	182,045

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

Description	Balance at beginning of period		Provision for expected credit losses		Deductions (1)			Balance at end of period
Year Ended June 30, 2024:
Allowance for credit losses	$	882	$	210	$	(177	)	$	915
Year Ended June 30, 2023:
Allowance for credit losses	$	695	$	464	$	(277	)	$	882
Year Ended June 30, 2022:
Allowance for credit losses	$	986	$	39	$	(330	)	$	695

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

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

Description	Balance at beginning of period		Additions		Deductions			Balance at end of period
Year Ended June 30, 2024:
Allowance for product returns	$	35,125	$	149,161	$	(131,950	)	$	52,336
Year Ended June 30, 2023:
Allowance for product returns	$	20,033	$	104,028	$	(88,936	)	$	35,125
Year Ended June 30, 2022:
Allowance for product returns	$	17,371	$	67,407	$	(64,745	)	$	20,033

Inventories

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

	June 30, 2024		June 30, 2023
Finished goods	$	115,813	$	78,180
Raw materials		25,219		10,844
Total inventories	$	141,032	$	89,024

Property and Equipment, Net

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

	June 30, 2024			June 30, 2023
Computers and equipment	$	77,224		$	81,612
Purchased software		60,717			51,444
Office equipment, furniture and fixtures		8,134			8,899
Leasehold improvements		47,880			48,943
Total property and equipment		193,955			190,898
Less: accumulated depreciation and amortization		(150,211	)		(144,450	)
Property and equipment, net	$	43,744		$	46,448

The Company recognized depreciation expense of $23.9 million during the fiscal year ended June 30, 2024, of which $5.9 million was recorded as restructuring and related charges in the consolidated statement of operations. Refer to Note 15, Restructuring and Related Charges, for further discussion. The Company recognized depreciation expense of $19.5 million, and $19.8 million related to property and equipment during the years ended June 30, 2023 and 2022, respectively.

Deferred Revenue

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

	June 30, 2024		June 30, 2023
Deferred maintenance, support, and SaaS	$	554,661	$	486,075
Other deferred revenue		20,362		15,424
Total deferred revenue		575,023		501,499
Less: current portion		306,114		282,475
Non-current deferred revenue	$	268,909	$	219,024

Accrued Warranty

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

	Year Ended
	June 30, 2024			June 30, 2023			June 30,  2022
Balance at beginning of period	$	12,322		$	10,852		$	11,623
Warranties assumed due to acquisition		—			—			41
New warranties issued		13,010			15,463			13,314
Warranty expenditures		(14,390	)		(13,993	)		(14,126	)
Balance at end of period	$	10,942		$	12,322		$	10,852