XML 25 R14.htm IDEA: XBRL DOCUMENT v3.22.4
Stockholders' Equity
 6 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Stockholders' Equity STOCKHOLDERS’ EQUITY
Performance-based RSUs
During the six months ended December 31, 2022, the Company granted approximately 150,000 restricted stock units (RSUs) to certain executive employees that vest based upon the achievement of designated financial metrics and continued employment over a period of three 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 December 31, 2022, the total unrecognized compensation expense related to the performance-based RSUs was $9.2 million, which is expected to be recognized over a weighted-average period of 1.5 years.
Stock Based Compensation Cost
Stock-based compensation cost by award type (in thousands):
Three Months Ended
December 31,		Six Months Ended
December 31,
2022202120222021
Stock options$13,117 $14,666 $24,911 $27,902 
RSUs(1)
101,266 33,699 156,935 57,232 
Performance-based awards3,157 — 6,448 — 
Market-based RSUs1,254 230 2,507 230 
Employee stock purchase plan2,961 2,106 5,782 4,163 
Total stock-based compensation cost$121,755 $50,701 $196,583 $89,528 
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
December 31,		Six Months Ended
December 31,
2022202120222021
Cost of revenue$2,298 $1,285 $4,299 $2,412 
Research and development26,981 14,280 47,831 24,840 
Sales and marketing(1)
69,522 11,039 98,779 19,153 
General and administrative20,641 23,080 41,152 41,166 
Total amount charged to expense119,442 49,684 192,061 87,571 
Property and equipment (capitalized internal-use software)2,313 1,017 4,522 1,957 
Total stock-based compensation cost$121,755 $50,701 $196,583 $89,528 
(1) In October 2022, the Company entered into separation and advisory agreements with its former Chief Revenue Officer (the CRO Agreements). Pursuant to the CRO Agreements, the former CRO will serve the Company as an advisor through September 2024. Upon execution of the CRO Agreements, the Company recognized $52.2 million of stock-based compensation expense related to the former CRO's RSUs.