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Income taxes (Tables)

12 Months Ended

Jun. 30, 2019

Schedule of Income before Income Tax, Domestic and Foreign

The domestic and foreign components of loss before provision (benefit) for income taxes were as follows (in thousands):



	Fiscal Year Ended June 30,
	2019			2018 As Adjusted⁽¹⁾			2017 As Adjusted⁽¹⁾
United States	$	(35,763	)	$	(42,683	)	$	(31,569	)
Foreign	4,558			2,861			2,874
Loss before provision for income taxes	$	(31,205	)	$	(39,822	)	$	(28,695	)

⁽¹⁾ See Note 1 for a summary of adjustments.

Schedule of Components of Income Tax Expense (Benefit)

The provision (benefit) for income taxes consists of the following (in thousands):



	Fiscal Year Ended June 30,
	2019			2018 As Adjusted⁽¹⁾			2017 As Adjusted⁽¹⁾
Current income taxes:
Federal	$	—		$	—		$	(435	)
State	14			32			(1,075		)
Foreign	1,598			1,048			2,131
Total current income taxes	1,612			1,080			621
Deferred income taxes:
Federal	(76		)	—			—
State	—			—			—
Foreign	(253		)	(68		)	220
Total deferred income taxes	(329		)	(68		)	220
Total provision for income taxes	$	1,283		$	1,012		$	841

⁽¹⁾ See Note 1 for a summary of adjustments.

Schedule of Effective Income Tax Rate Reconciliation

The provision (benefit) for income taxes differs from the amount computed by applying the statutory federal income tax rate as follows (in thousands):



	Fiscal Year Ended June 30,
	2019			2018 As Adjusted⁽¹⁾			2017 As Adjusted⁽¹⁾
Tax at federal statutory tax rate	$	(6,553	)	$	(11,150	)	$	(10,044	)
State taxes—net of federal benefit	15			32			(1,075		)
Non-deductible expenses	110			88			108
Goodwill impairment	537			746			—
Foreign withholding taxes	340			527			1,737
Foreign income taxed at different rates	(66		)	(309		)	(323		)
Stock-based compensation expense	1,002			653			849
Tax exempt income	(94		)	(136		)	(33		)
Change in valuation allowance	5,507			(8,396		)	10,039
One-time transition tax	—			44			—
Remeasurement of deferred tax assets and liabilities	—			18,900			—
FIN 48	114			15			(479		)
GILTI inclusion	451			—			—
Other	(80		)	(2		)	62
Total provision for income taxes	$	1,283		$	1,012		$	841

⁽¹⁾ See Note 1 for a summary of adjustments.

Schedule of Deferred Tax Assets and Liabilities

Significant components of our net deferred tax assets were as follows (in thousands):



	June 30,
	2019			2018 As Adjusted⁽¹⁾
Deferred tax assets:
Federal, state and foreign net operating losses	$	57,809		$	55,540
Federal and state tax credits	14,104			12,195
Stock-based compensation	2,885			3,481
Accrued expenses and reserves	13,659			9,395
Capitalized expense	34			60
Unrealized losses	481			609
Property and equipment	43			—
Acquired intangible assets	768			652
Total deferred tax assets	89,783			81,932
Deferred tax liabilities:
Property and equipment	(79		)	(29		)
Capitalized software	(17,848		)	(13,222		)
Deferred revenue	(22,486		)	—
Unrealized gains	(236		)	(451		)
Total deferred tax liabilities:	(40,649		)	(13,702		)
Deferred tax assets, net of liabilities:	49,134			68,230
Valuation allowance — worldwide	(48,370		)	(67,702		)
Net deferred tax assets	$	764		$	528

⁽¹⁾ See Note 1 for a summary of adjustments.

Schedule of Unrecognized Tax Benefits Roll Forward

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in thousands):



	Fiscal Year Ended June 30,
	2019			2018		2017
Unrecognized tax benefit—beginning of period	$	3,820		$	3,035	$	6,662
Increase in tax positions taken during the current period	825			785		678
Increase in tax positions taken during the prior period	181			—		242
Decrease in tax positions taken during the prior period	(128		)	—		—
Decrease in tax positions due to settlements	(98		)	—		(4,086		)
Lapse of statute of limitations	—			—		(461		)
Unrecognized tax benefit—end of period	$	4,600		$	3,820	$	3,035