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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net income $ (22,672) $ (5,883)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 26,251 24,147
Stock-based compensation expense 5,510 8,286
Deferred income taxes 17,223 5,484
Provision for doubtful accounts 1,503 152
Amortization of fees on debt 410 404
Noncash operating lease expense 3,866 5,005
Other (3,918) 4,325
Changes in assets and liabilities:    
Accounts receivable (126,521) (150,263)
Inventories, prepaid expenses, deposits and other current and long-term assets (34,695) 1,260
Accounts payable 8,425 (1,256)
Accrued liabilities (9,971) (2,464)
Accrued compensation and benefits (32,805) (44,395)
Operating lease liability (2,605) (5,321)
Deferred revenue and other liabilities 26,853 29,009
Net cash used in operating activities (143,146) (131,510)
Cash flows from investing activities    
Purchase of property and equipment (913) (1,278)
Capitalized software development costs (9,793) (9,690)
Capitalized curriculum development costs (6,145) (4,376)
Sale of other investments 60  
Acquisition of assets (1,409)  
Other acquisitions, loans and investments, net of distributions (213) (192)
Proceeds from the maturity of marketable securities 12,044 1,501
Purchases of marketable securities (20,126) (9,196)
Net cash used in investing activities (26,495) (23,231)
Cash flows from financing activities    
Repayments on finance lease obligations (9,314) (7,020)
Payments of contingent consideration (7,024)  
Proceeds from exercise of stock options 10 246
Repurchase of restricted stock for income tax withholding (8,905) (6,043)
Net cash used in financing activities (25,233) (12,817)
Net change in cash, cash equivalents and restricted cash (194,874) (167,558)
Cash, cash equivalents and restricted cash, beginning of period 389,398 386,582
Cash, cash equivalents and restricted cash, end of period $ 194,524 $ 219,024