Prepaid Expenses and Other Assets

6 Months Ended

Dec. 31, 2015

Prepaid Expense And Other Assets [Abstract]

Prepaid Expenses and Other Assets

5. Prepaid Expenses and Other Assets

During the three months ended December 31, 2015, the Company entered into a 10-year partnership agreement with a large online customer acquisition marketing company focused on the U.S. insurance industry to be their exclusive click monetization partner for the majority of its insurance categories. The agreement included a one-time upfront cash payment of $10.0 million. The payment will be amortized on a straight-line basis over the life of the contract. As of December 31, 2015, the Company has recorded $1.0 million within prepaid expenses and other assets and $8.8 million in other assets, noncurrent on the condensed consolidated balance sheet. Amortization expense was $0.2 million in both the three and six months ended December 31, 2015.