Short-Term Investments (Tables)

9 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Short-term investments consisted of the following as of the dates presented (in thousands):


	March 31, 2023
	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
Corporate bonds	$	535,186	$	293	$	(2,284)	$	533,195
U.S. treasury securities	412,097		297		(759)		411,635
Asset-backed securities	36,965		40		(117)		36,888
Certificates of deposit	52,786		—		—		52,786
U.S. agency securities	38,473		37		(1)		38,509
Total	$	1,075,507	$	667	$	(3,161)	$	1,073,013


	June 30, 2022
	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
Corporate bonds	$	601,987	$	3	$	(4,786)	$	597,204
U.S. treasury securities	424,644		1		(2,917)		421,728
Asset-backed securities	51,622		—		(216)		51,406
Certificates of deposit	38,155		—		—		38,155
Total	$	1,116,408	$	4	$	(7,919)	$	1,108,493

Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value

The following table presents gross unrealized losses and fair values for those investments that were in an unrealized loss position as of the dates presented (in thousands):


	March 31, 2023
	Fair value		Unrealized losses
Corporate bonds	$	260,366	$	(2,284)
U.S. treasury securities	117,626		(759)
Asset-backed securities	30,610		(117)
U.S. agency securities	3,759		(1)
Total	$	412,361	$	(3,161)


	June 30, 2022
	Fair value		Unrealized losses
Corporate bonds	$	392,699	$	(4,786)
U.S. treasury securities	411,787		(2,917)
Asset backed securities	51,406		(216)
Total	$	855,892	$	(7,919)