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Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2020
Mar. 31, 2019
Revenues:        
Recurring and other revenue $ 167,095 $ 133,355 $ 416,948 $ 333,096
Interest income on funds held for clients 4,551 6,197 13,792 14,164
Total revenues 171,646 139,552 430,740 347,260
Cost of revenues:        
Cost of revenues 48,081 39,745 136,135 113,757
Gross profit 123,565 99,807 294,605 233,503
Operating expenses:        
Sales and marketing 37,801 27,699 112,051 80,687
Research and development 15,612 12,688 45,416 36,886
General and administrative 22,411 23,208 77,283 68,915
Total operating expenses 75,824 63,595 234,750 186,488
Operating income 47,741 36,212 59,855 47,015
Other income 435 540 1,194 1,155
Income before income taxes 48,176 36,752 61,049 48,170
Income tax expense 8,044 8,726 1,544 4,588
Net income 40,132 28,026 59,505 43,582
Other comprehensive income (loss), net of tax        
Unrealized gains (losses) on securities, net of tax (182) 161 (214) 161
Total other comprehensive income (loss), net of tax (182) 161 (214) 161
Comprehensive income $ 39,950 $ 28,187 $ 59,291 $ 43,743
Net income per share:        
Basic (in dollars per share) $ 0.75 $ 0.53 $ 1.11 $ 0.82
Diluted (in dollars per share) $ 0.72 $ 0.51 $ 1.07 $ 0.79
Weighted-average shares used in computing net income per share:        
Basic (in shares) 53,629 52,934 53,486 52,880
Diluted (in shares) 55,953 55,465 55,760 55,280