Stockholders' Equity

3 Months Ended

Sep. 30, 2022

Equity [Abstract]

Stockholders' Equity

STOCKHOLDERS’ EQUITY

Performance-based RSUs

During the three months ended September 30, 2022, the Company granted approximately 150,000 restricted stock units (RSUs) to certain executive employees that vest based upon the achievement of certain financial metrics and continued employment over a period of 3 years. The weighted-average grant date fair value of these performance-based RSUs was $133.48 per unit. The Company recognizes expense for performance-based RSUs over the requisite service period based on management's estimate of the number of performance-based RSUs expected to vest. For any change in the estimate of the number of performance-based RSUs that are probable of vesting, the Company will cumulatively adjust compensation expense in the period that the change in estimate is made.

As of September 30, 2022, the total unrecognized compensation expense related to the performance-based RSUs was $21.5 million, which is expected to be recognized over a weighted-average period of 1.7 years.

Stock Based Compensation Cost

Stock-based compensation cost by award type (in thousands):

	Three Months Ended September 30,
	2022		2021
Stock options	$	11,793	$	13,236
RSUs	55,670		23,533
Performance-based awards	3,291		—
Market-based RSUs	1,254		—
Employee stock purchase plan	2,821		2,058
Total stock-based compensation cost	$	74,828	$	38,827

Stock-based compensation cost 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 September 30,
	2022		2021
Cost of revenue	$	2,001	$	1,127
Research and development	20,851		10,560
Sales and marketing	29,258		8,114
General and administrative	20,510		18,086
Total amount charged to expense	72,620		37,887
Property and equipment (capitalized internal-use software)	2,209		940
Total stock-based compensation cost	$	74,828	$	38,827