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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:      
Net loss $ (223,725) $ (326,361) $ (98,720)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Stock-based compensation 313,567 197,157 68,290
Amortization of intangible assets 80,205 75,977 5,659
Depreciation of property and equipment 11,258 9,161 4,443
Amortization of capitalized internal-use software costs 4,215 2,366 907
Amortization of debt discount and issuance costs, net of accretion of debt premium 6,964 4,777 27,531
Amortization of premium (accretion of discount) on investments in marketable debt securities (37,194) 11,386 4,692
Provision for losses on acquired card receivables and other financial assets 32,189 19,879 741
Non-cash operating lease expense 9,493 8,601 3,813
Deferred income taxes (1,361) (4,075) (40,617)
Other 1,127 (726) 0
Changes in assets and liabilities:      
Accounts receivable (4,482) (3,032) (6,535)
Prepaid expenses and other current assets (16,844) (12,970) 706
Other assets 320 5,105 (12,525)
Accounts payable (1,686) (3,771) 7,417
Other accruals and current liabilities 34,465 7,460 22,980
Operating lease liabilities (10,303) (7,877) 8,395
Other long-term liabilities (3,097) (6,749) 592
Deferred revenue (7,343) 5,599 6,854
Net cash provided by (used in) operating activities 187,768 (18,093) 4,623
Cash flows from investing activities:      
Cash paid for acquisition, net of acquired cash and cash equivalents (28,902) (144,349) (556,090)
Purchases of corporate and customer fund short-term investments (2,743,763) (2,801,697) (2,070,296)
Proceeds from maturities of corporate and customer fund short-term investments 3,283,961 1,902,474 1,104,532
Proceeds from sale of corporate and customer fund short-term investments 11,607 55,744 142,665
Increase in acquired card receivables, net (234,256) (129,178) (26,495)
Purchases of property and equipment (7,589) (5,377) (18,902)
Capitalization of internal-use software costs (23,614) (10,259) (2,304)
Proceeds from beneficial interest 2,080 6,699 0
Other (239) (1,359) 0
Net cash provided by (used in) investing activities 259,285 (1,127,302) (1,426,890)
Cash flows from financing activities:      
Proceeds from issuance of common stock upon public offering, net of underwriting discounts and other offering costs 0 1,341,122 0
Proceeds from issuance of convertible senior notes, net of discounts and issuance costs 0 560,075 1,129,379
Purchase of capped calls 0 (37,893) (87,860)
Increase in customer fund deposits liability and other 204,390 941,003 563,291
Repurchase of common stock (87,615) 0 0
Increase in prepaid card deposits 26,584 29,886 0
Proceeds from line of credit borrowings 60,000 37,500 0
Payments on line of credit and bank borrowings 0 (40,000) (2,300)
Proceeds from exercise of stock options 13,872 34,024 28,209
Proceeds from issuance of common stock under the employee stock purchase plan 17,879 12,849 8,864
Net cash provided by financing activities 235,110 2,878,566 1,639,583
Effect of exchange rate changes on cash, cash equivalents, restricted cash, and restricted cash equivalents (38) (149) 0
Net increase in cash, cash equivalents, restricted cash, and restricted cash equivalents 682,125 1,733,022 217,316
Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of year 3,542,715 1,809,693 1,592,377
Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of year 4,224,840 3,542,715 1,809,693
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents within the consolidated balance sheets to the amounts shown in the consolidated statements of cash flows above:      
Cash and cash equivalents 1,617,151 1,596,542 509,615
Restricted cash included in other current assets 87,322 85,252 10,977
Restricted cash included in other assets 13,810 6,724 6,875
Restricted cash and restricted cash equivalents included in funds held for customers 2,506,557 1,854,197 1,282,226
Total cash, cash equivalents, restricted cash, and restricted cash equivalents, end of year 4,224,840 3,542,715 1,809,693
Supplemental disclosure of cash flow information:      
Cash paid for interest during the period 7,440 4,867 112
Cash paid for income taxes during the period 1,266 0 0
Noncash investing and financing activities:      
Payable on purchases of property and equipment and internal-use software costs 174 1,936 664
Fair value of shares issued as consideration for acquisition 3,375 488,494 1,603,543
Fair value of stock-based awards assumed in acquisition 0 21,724 55,275
Fair value of earn-out consideration for acquisition 10,762 0 0
Recognition of beneficial interest $ 1,682 $ 4,690 $ 0