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Stockholders' Equity
 6 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Stockholders' Equity STOCKHOLDERS’ EQUITY
Stock Based Compensation
Stock-based compensation by award type (in thousands):
Three Months Ended
December 31,		Six Months Ended
December 31,
As of December 31, 2025
2025202420252024Unrecognized
compensation
Weighted-average recognition period (in years)
Restricted stock units (RSUs)$60,679 $60,920 $117,462 $111,814 $368,773 2.4
Performance-based awards4,573 4,040 5,120 6,835 21,973 1.8
Employee stock purchase plan1,756 1,597 3,758 3,005 2,420 0.5
Market-based RSUs2,188 1,785 6,614 2,790 16,078 1.3
Stock options89 784 476 2,022 — 0.0
Total stock-based compensation$69,285 $69,126 $133,430 $126,466 $409,244 
Stock-based compensation was included in the following line items in the accompanying condensed consolidated statements of operations and condensed consolidated balance sheets (in thousands):
Three Months Ended
December 31,		Six Months Ended
December 31,
2025202420252024
Revenue - subscription and transaction fees$634 $608 $1,242 $1,135 
Cost of revenue - service costs2,248 2,579 4,593 4,732 
Research and development29,161 29,270 55,061 52,903 
Sales and marketing10,019 10,480 19,645 21,274 
General and administrative22,164 22,943 42,489 40,497 
Restructuring31 — 31 — 
Total amount charged to operating loss64,257 65,880 123,061 120,541 
Property and equipment (capitalized internal-use software)5,028 3,246 10,369 5,925 
Total stock-based compensation$69,285 $69,126 $133,430 $126,466 
Share Repurchase Program
In August 2024, the Company's board of directors approved a share repurchase program, pursuant to which the Company announced its intention to purchase up to $300.0 million of its outstanding shares of common stock (the August 2024 Share Repurchase Program). In July 2025, the Company completed the repurchase of shares under the August 2024 Share Repurchase Program.
In August 2025, the Company's board of directors authorized an additional share repurchase program pursuant to which the Company announced its intention to purchase up to $300.0 million of its outstanding shares of common stock (the August 2025 Share Repurchase Program). The Company may repurchase such shares from time to time through open market purchases, in privately negotiated transactions, or by other means, including through the use of trading plans. The timing and total amount of stock repurchases will depend upon business, economic and market conditions, corporate and regulatory requirements, prevailing stock prices, and other considerations. The August 2025 Share Repurchase Program has no mandated end date, may be suspended, discontinued or modified at any time, and does not obligate the Company to acquire any amount of common stock.
The table below sets forth information regarding repurchases made pursuant to the Company's share repurchase programs as of December 31, 2025 (in thousands, except per share data):
August 2024 Share Repurchase Program
August 2025 Share Repurchase Program
Period
Shares repurchased
Total amount repurchased(1)
Average price paid per share(1)
Available for future share repurchases
Shares repurchased
Total amount repurchased(1)
Average price paid per share(1)
Available for future share repurchases
Fiscal 2025
First quarter3,711 $201,709 $54.35 — $— $— 
Second quarter— — $— — — $— 
Total3,711 $201,709 — $— 
Fiscal 2026
First quarter1,392 $65,454 $47.02 $303 $16,258 $53.71 
Second quarter— — $— 2,545 132,980 $52.26 
Total1,392 $65,454 $— $2,848 $149,238 $151,857 
(1) Amounts include an immaterial amount of accrued excise tax.
In addition, in December 2024, the Company's board of directors approved the repurchase of up to an additional $200.0 million of its outstanding shares of common stock in connection with the issuance of the 2030 Notes. During the three months ended December 31, 2024, the Company repurchased 2,260,397 shares of its
common stock for $201.4 million, which included an immaterial amount of accrued excise tax, in privately negotiated transactions concurrently with the pricing of, and using proceeds from, the issuance of the 2030 Notes.
The total price of the shares repurchased and related transaction costs are reflected as a reduction of common stock and an increase to accumulated deficit on the Company's condensed consolidated balance sheets.