Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2020

Summary of Significant Accounting Policies

Schedule of activity in the allowance for doubtful accounts

	For the Years Ended June 30,
	2018		2019		2020
Balance at the beginning of the year	$	266	$	375	$	473
Charged to expense		296		283		309
Write-offs		(187)		(185)		(165)
Balance at the end of the year	$	375	$	473	$	617

Schedule of the cumulative effect of the adoption of ASC 606 on the prior year opening balance sheet

	As Reported		Adjustments		Balances at
	June 30, 2018		due to Topic 606		July 1, 2018
Balance Sheet
Assets
Deferred contract costs	$	—	$	14,783	$	14,783
Prepaid expenses and other		11,248		1,730		12,978
Long-term deferred contract costs		—		53,324		53,324
Long-term prepaid expenses and other		1,504		1,226		2,730
Deferred income tax assets, net		22,140		(18,391)		3,749
Stockholders' Equity
Retained earnings (accumulated deficit)		(6,678)		52,672		45,994

Schedule of the impact of adoption of ASC 606 on prior period financial statements

The following table summarizes the impact from the adoption of Topic 606 on the Company’s consolidated statements of operations and comprehensive income:

	Year Ended June 30, 2019
	As Reported		Balances under		Impact from
	(Topic 606)		ASC 605		Adoption
Statement of Operations
Revenues
Recurring fees	$	436,955	$	438,685	$	(1,730)
Implementation services and other		10,797		4,786		6,011
Cost of Revenues
Implementation services and other		28,640		49,252		(20,612)
Operating expenses
Sales and marketing		112,599		126,331		(13,732)
General and administrative		94,630		95,278		(648)
Income tax expense (benefit)		4,223		(5,964)		10,187
Net income		53,823		24,737		29,086

The following table summarizes the impact from the adoption of Topic 606 on the Company’s consolidated balance sheet:

	June 30, 2019
	As Reported		Balances under		Impact from
	(Topic 606)		ASC 605		Adoption
Balance Sheet
Assets
Deferred contract costs	$	21,677	$	—	$	21,677
Prepaid expenses and other		13,895		12,823		1,072
Long-term deferred contract costs		81,422		—		81,422
Long-term prepaid expenses and other		1,975		1,821		154
Deferred income tax assets, net		6,472		28,107		(21,635)
Liabilities
Accrued expenses		57,625		54,541		3,084
Other long-term liabilities		1,723		10,818		(9,095)
Deferred income tax liabilities, net		6,943		—		6,943
Stockholders' Equity
Retained earnings (accumulated deficit)		99,817		18,059		81,758

The following table summarizes the impact from the adoption of Topic 606 on the Company’s consolidated statement of cash flows:

	Year Ended June 30, 2019
	As Reported		Balances under		Impact from
	(Topic 606)		ASC 605		Adoption
Statement of Cash Flows
Net income	$	53,823	$	24,737	$	29,086
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income tax expense (benefit)		4,134		(6,053)		10,187
Changes in operating assets and liabilities:
Deferred contract costs		(34,992)		—		(34,992)
Prepaid expenses and other		389		(1,341)		1,730
Accrued expenses		13,625		19,636		(6,011)
Net cash provided by operating activities		115,032		115,032		—