Fair Value Measurement (Tables)

6 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Summary of Fair Value of Assets and Liabilities Measured on Recurring Basis

The following tables set forth the fair value of assets and liabilities that were measured at fair value on a recurring basis based on the three-tier fair value hierarchy as of the dates presented (in thousands):

	December 31, 2022
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	1,227,764	$	—	$	—	$	1,227,764
Corporate bonds	—		19,121		—		19,121
U.S. treasury securities	19,950		—		—		19,950
	1,247,714		19,121		—		1,266,835
Short-term investments:
Corporate bonds	—		641,267		—		641,267
U.S. treasury securities	313,704		—		—		313,704
U.S. agency securities	—		26,119		—		26,119
Asset-backed securities	—		31,270		—		31,270
Certificates of deposit	—		54,178		—		54,178
	313,704		752,834		—		1,066,538
Funds held for customers:
Restricted cash equivalents:
Money market funds	29,061		—		—		29,061
Corporate bonds	—		237,682		—		237,682
	29,061		237,682		—		266,743
Short-term investments:
Corporate bonds	—		734,878		—		734,878
Certificates of deposit	—		426,189		—		426,189
Municipal bonds	—		635		—		635
Asset-backed securities	—		81,680		—		81,680
U.S. treasury securities	53,221		—		—		53,221
	53,221		1,243,382		—		1,296,603
Total assets measured at fair value	$	1,643,700	$	2,253,019	$	—	$	3,896,719
Liabilities
Contingent consideration(1)	$	—	$	—	$	10,794	$	10,794
Total liabilities measured at fair value	$	—	$	—	$	10,794	$	10,794

(1) The Company used the probability-weighted discounted cash flow method to estimate the contingent consideration. The significant inputs used in the fair value measurement of the contingent consideration are the probability of payout and discount rate. As these inputs are not based on observable market data, the liability represents a Level 3 measurement within the fair value hierarchy.

	June 30, 2022
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	1,435,111	$	—	$	—	$	1,435,111
Corporate bonds	—		11,430		—		11,430
	1,435,111		11,430		—		1,446,541
Short-term investments:
Corporate bonds	—		597,204		—		597,204
U.S. treasury securities	421,728		—		—		421,728
Asset-backed securities	—		51,406		—		51,406
Certificates of deposit	—		38,155		—		38,155
	421,728		686,765		—		1,108,493
Funds held for customers:
Restricted cash equivalents:
Money market funds	34,703		—		—		34,703
Corporate bonds	—		133,557		—		133,557
	34,703		133,557		—		168,260
Short-term investments:
Corporate bonds	—		807,685		—		807,685
Certificates of deposit	—		397,533		—		397,533
Municipal bonds	—		6,516		—		6,516
Asset-backed securities	—		69,912		—		69,912
U.S. treasury securities	3,072		—		—		3,072
	3,072		1,281,646		—		1,284,718
Beneficial interest derivative on card receivables sold	—		—		398		398
Total assets measured at fair value	$	1,894,614	$	2,113,398	$	398	$	4,008,410