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Stock-based Compensation (Tables)
3 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of assumptions used to estimate fair value of stock options granted using Black-Scholes option pricing model The fair value of stock option grants for the three months ended September 30, 2020 and 2019 was estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions:
 Three Months Ended
September 30,
 20202019
Risk-free interest rate0.27 %1.58 %
Expected term5.98 years6.27 years
Dividend yield— %— %
Volatility50.43 %50.04 %
Weighted-average fair value$14.16 $8.72 
Schedule of stock-based compensation expense The following table shows total stock-based compensation expense included in the condensed consolidated statements of operations for the three months ended September 30, 2020 and 2019 (in thousands):
 
 Three Months Ended
September 30,
 20202019
Cost of sales$503 $395 
Research and development3,702 3,130 
Sales and marketing517 436 
General and administrative2,448 1,093 
Stock-based compensation expense before taxes7,170 5,054 
Income tax impact(1,955)(1,143)
Stock-based compensation expense, net$5,215 $3,911 
Summary of stock option activity The following table summarizes stock option activity during the three months ended September 30, 2020 under all plans:
 
Options
Outstanding
Weighted
Average
Exercise
Price per
Share
Weighted
Average
Remaining
Contractual
Term (in Years)
Balance as of June 30, 20205,379,768 $19.38 
Granted207,270 $30.43 
Exercised(350,830)$14.31 
Forfeited/Cancelled(21,357)$24.42 
Balance as of September 30, 20205,214,851 $20.14 4.20
Options vested and exercisable at September 30, 20204,457,311 $19.67 3.43
Summary of restricted stock unit activity The following table summarizes RSU and PRSU activity during the three months ended September 30, 2020 under all plans: 
Time-Based RSUs
Outstanding
Weighted
Average
Grant-Date Fair Value per Share
PRSUs
Outstanding
Weighted
Average
Grant-Date Fair Value per Share
Balance as of June 30, 20201,768,027 $20.08 42,000 (1)$22.29 
Granted524,357 $29.97 — $— 
Released(211,519)$20.10 (6,000)$27.10 
Forfeited(57,081)$22.98 — $— 
Balance as of September 30, 20202,023,784 $22.55 36,000 $21.49 
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(1)Reflects the number of PRSUs that have been earned based on the achievement of performance metrics.