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Stock Benefit Plans (Tables)
6 Months Ended
Dec. 31, 2023
Employee Stock Option [Member]  
Schedule of Weighted Average Assumptions

The Company estimates the fair value of stock options at the date of grant using the Black-Scholes option-pricing model. Options are granted with an exercise price equal to the closing price of the Company’s common stock on the date of grant. The weighted-average Black-Scholes model assumptions for the three and six months ended December 31, 2023 and 2022 were as follows:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

December 31,

 

 

December 31,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Expected term (in years)

 

 

3.5

 

 

 

3.5

 

 

 

3.5

 

 

 

3.5

 

Expected volatility

 

 

51

%

 

 

57

%

 

 

54

%

 

 

56

%

Expected dividend yield

 

 

 

 

 

 

 

 

 

 

 

 

Risk-free interest rate

 

 

4.9

%

 

 

4.4

%

 

 

4.7

%

 

 

3.7

%

Grant date fair value

 

$

4.50

 

 

$

5.90

 

 

$

4.42

 

 

$

5.66

 

Employee Stock Purchase Plan [Member]  
Schedule of Fair Value of Purchase Rights

The fair value of the purchase rights for the ESPP are estimated on the date of grant using the Black-Scholes model with the following assumptions:

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

December 31,

 

 

December 31,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Expected term (in years)

 

0.5 - 2.0

 

 

0.5 - 2.0

 

 

0.5 - 2.0

 

 

0.5 - 2.0

 

Expected volatility

 

53% - 58%

 

 

48% - 57%

 

 

53% - 58%

 

 

48% - 57%

 

Expected dividend yield

 

 

 

 

 

 

 

 

 

 

 

 

Risk-free interest rate

 

4.9% - 5.5%

 

 

2.9% - 3.0%

 

 

4.9% - 5.5%

 

 

2.9% - 3.0%

 

Grant date fair value

 

$2.97 - $4.44

 

 

$3.77 - $5.53

 

 

$2.97 - $4.44

 

 

$3.77 - $5.53