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Stockholders' Equity
 9 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Stockholders' Equity STOCKHOLDERS’ EQUITY
Stock Based Compensation
Stock-based compensation by award type (in thousands):
Three Months Ended
March 31,		Nine Months Ended
March 31,
As of March 31, 2026
2026202520262025Unrecognized
compensation
Weighted-average recognition period (in years)
Restricted stock units (RSUs)$53,686 $58,646 $171,148 $170,461 $311,151 2.3
Performance-based awards3,534 3,385 4,652 7,404 17,843 1.6
Employee stock purchase plan1,259 1,766 5,017 4,771 1,021 0.4
Market-based RSUs2,348 1,906 12,964 7,512 13,730 1.8
Stock options— 420 476 2,442 — 0.0
Total stock-based compensation$60,827 $66,123 $194,257 $192,590 $343,745 
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
March 31,		Nine Months Ended
March 31,
2026202520262025
Revenue - subscription and transaction fees$600 $562 $1,842 $1,697 
Cost of revenue - service costs2,082 2,414 6,675 7,147 
Research and development24,202 27,362 79,264 80,265 
Sales and marketing8,358 9,507 28,003 30,781 
General and administrative17,819 22,384 60,308 62,881 
Restructuring876 — 906 — 
Total amount charged to operating loss53,937 62,229 176,998 182,771 
Property and equipment (capitalized internal-use software)6,890 3,894 17,259 9,819 
Total stock-based compensation$60,827 $66,123 $194,257 $192,590 
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 the repurchase of up to $300.0 million in shares of its outstanding common stock (the August 2025 Share Repurchase Program).
In April 2026, the Company's board of directors authorized the repurchase of up to $1.0 billion in shares of its outstanding common stock, which authorization includes unused amounts under the August 2025 Share Repurchase Program (the 2026 Share Repurchase Authorization). Pursuant to this authorization, 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 intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, in accordance with applicable securities laws and other restrictions. 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. This authorization has a term of 24 months, 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 March 31, 2026 (in thousands, except per share data):
August 2024 Share Repurchase ProgramAugust 2025 Share Repurchase Program
PeriodShares repurchased
Total amount repurchased(1)
Average price paid per share(1)
Available for future share repurchasesShares repurchased
Total amount repurchased(1)
Average price paid per share(1)
Available for future share repurchases (2)
Fiscal 2025
First quarter3,711 $201,709 $54.35 — $— $— 
Second quarter— — $— — — $— 
Third 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 
Third quarter— — $— 1,014 52,101 $51.40 
Total1,392 $65,454 $— 3,862 $201,339 $99,996 
(1) Amounts include an immaterial amount of accrued excise tax.
(2) Unused amounts are now included in the amount authorized under the 2026 Share Repurchase Authorization.
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.