QuinStreet (QNST) 10-Q 8 Nov 19 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2019	Nov. 05, 2019
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Trading Symbol	QNST
Entity Registrant Name	QuinStreet, Inc.
Entity Central Index Key	0001117297
Current Fiscal Year End Date	--06-30
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity File Number	001-34628
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		51,225,472
Entity Tax Identification Number	77-0512121
Entity Address, Address Line One	950 Tower Lane
Entity Address, Address Line Two	6th Floor
Entity Address, City or Town	Foster City
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94404
City Area Code	650
Local Phone Number	578-7700
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common Stock, par value $0.001 per share

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Current assets:
Cash and cash equivalents	$ 70,517	$ 62,522
Accounts receivable, net	74,615	75,628
Prepaid expenses and other assets	6,168	5,228
Total current assets	151,300	143,378
Property and equipment, net	5,400	5,410
Operating lease right-of-use assets	12,114	0
Goodwill	82,544	82,544
Other intangible assets, net	33,178	35,118
Deferred tax assets, noncurrent	52,048	52,149
Other assets, noncurrent	5,674	6,012
Total assets	342,258	324,611
Current liabilities:
Accounts payable	40,020	37,093
Accrued liabilities	37,699	36,878
Deferred revenue	839	761
Other liabilities	9,015	8,967
Total current liabilities	87,573	83,699
Operating lease liabilities, noncurrent	11,850	0
Other liabilities, noncurrent	14,744	18,083
Total liabilities	114,167	101,782
Commitments and contingencies (See Note 11)	0	0
Stockholders' equity:
Common stock: $0.001 par value; 100,000,000 shares authorized; 51,102,339 and 50,518,460 shares issued and outstanding at September 30, 2019 and June 30, 2019	51	50
Additional paid-in capital	293,866	289,768
Accumulated other comprehensive loss	(335)	(366)
Accumulated deficit	(65,491)	(66,623)
Total stockholders' equity	228,091	222,829
Total liabilities and stockholders' equity	$ 342,258	$ 324,611

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2019	Jun. 30, 2019
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	51,102,339	50,518,460
Common stock, shares outstanding	51,102,339	50,518,460

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended
		Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Net revenue		$ 126,614	$ 112,869
Cost of revenue	[1]	113,189	96,813
Gross profit		13,425	16,056
Operating expenses:
Product development	[1]	3,556	3,305
Sales and marketing	[1]	2,363	2,044
General and administrative	[1]	5,825	5,394
Operating income		1,681	5,313
Interest income		72	66
Interest expense		(212)	0
Other expense, net		(257)	(67)
Income before income taxes		1,284	5,312
Provision for income taxes		(152)	(15)
Net income		$ 1,132	$ 5,297
Net income per share:
Basic		$ 0.02	$ 0.11
Diluted		$ 0.02	$ 0.10
Weighted-average shares used in computing net income per share:
Basic		50,845	48,663
Diluted		53,326	52,441
[1]	(1) Cost of revenue $ 2,490 $ 1,539 Product development 484 401 Sales and marketing 421 284 General and administrative 1,253 887

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Parenthetical) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cost of revenue [Member]
Stock-based compensation	$ 2,490	$ 1,539
Product development [Member]
Stock-based compensation	484	401
Sales and marketing [Member]
Stock-based compensation	421	284
General and administrative [Member]
Stock-based compensation	$ 1,253	$ 887

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 1,132	$ 5,297
Other comprehensive income:
Foreign currency translation adjustment	31	78
Total other comprehensive income	31	78
Comprehensive income	$ 1,163	$ 5,375

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]
Beginning Balance at Jun. 30, 2018	$ 148,326	$ 48	$ 277,761	$ (380)	$ (129,103)
Beginning Balance, Shares at Jun. 30, 2018		48,146,384
Issuance of common stock upon exercise of stock options	2,052	$ 0	2,052	0	0
Issuance of common stock upon exercise of stock options, Shares		304,080
Release of restricted stock, net of share settlement	0	$ 1	(1)	0	0
Release of restricted stock, net of share settlement, Shares		695,521
Stock-based compensation expense	3,129	$ 0	3,129	0	0
Withholding taxes related to release of restricted stock, net of share settlement	(5,857)	0	(5,857)	0	0
Net income	5,297	0	0	0	5,297
Other comprehensive income	78	0	0	78	0
Ending Balance at Sep. 30, 2018	153,025	$ 49	277,084	(302)	(123,806)
Ending Balance, Shares at Sep. 30, 2018		49,145,985
Beginning Balance at Jun. 30, 2019	$ 222,829	$ 50	289,768	(366)	(66,623)
Beginning Balance, Shares at Jun. 30, 2019	50,518,460	50,518,460
Issuance of common stock upon exercise of stock options	$ 1,790	$ 0	1,790	0	0
Issuance of common stock upon exercise of stock options, Shares		260,061
Release of restricted stock, net of share settlement	0	$ 1	(1)	0	0
Release of restricted stock, net of share settlement, Shares		323,818
Stock-based compensation expense	4,667	$ 0	4,667	0	0
Withholding taxes related to release of restricted stock, net of share settlement	(2,358)	0	(2,358)	0	0
Net income	1,132	0	0	0	1,132
Other comprehensive income	31	0	0	31	0
Ending Balance at Sep. 30, 2019	$ 228,091	$ 51	$ 293,866	$ (335)	$ (65,491)
Ending Balance, Shares at Sep. 30, 2019	51,102,339	51,102,339

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash Flows from Operating Activities
Net income	$ 1,132	$ 5,297
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,812	1,648
Provision for sales returns and doubtful accounts receivable	129	245
Stock-based compensation	4,648	3,111
Non-cash lease expense	(176)	0
Deferred income taxes	116	0
Other adjustments, net	212	(145)
Changes in assets and liabilities:
Accounts receivable	884	2,779
Prepaid expenses and other assets	(637)	(682)
Accounts payable	2,998	1,657
Accrued liabilities	(2,770)	(3,919)
Deferred revenue	78	166
Other liabilities, noncurrent	115	70
Net cash provided by operating activities	9,541	10,227
Cash Flows from Investing Activities
Capital expenditures	(544)	(334)
Internal software development costs	(507)	(596)
Other investing activities	0	145
Net cash used in investing activities	(1,051)	(785)
Cash Flows from Financing Activities
Proceeds from exercise of common stock options	1,827	2,144
Payment of withholding taxes related to release of restricted stock, net of share settlement	(2,358)	(5,857)
Net cash used in financing activities	(531)	(3,713)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	36	90
Net increase in cash, cash equivalents and restricted cash	7,995	5,819
Cash, cash equivalents and restricted cash at beginning of period	62,536	65,588
Cash, cash equivalents and restricted cash at end of period	70,531	71,407
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets
Cash and cash equivalents	70,517	70,519
Restricted cash included in other assets, noncurrent	$ 14	$ 888
Restricted Cash, Noncurrent, Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssetsNoncurrent	us-gaap:OtherAssetsNoncurrent
Cash, cash equivalents and restricted cash at end of period	$ 70,531	$ 71,407
Supplemental Disclosure of Cash Flow Information
Cash paid for income taxes	32	99
Supplemental Disclosure of Non-cash Investing and Financing Activities
Purchases of property and equipment included in accrued liabilities	$ 75	$ 0

The Company

The Company	3 Months Ended
	Sep. 30, 2019
Organization [Abstract]
The Company	1. The Company QuinStreet, Inc. (the “Company”) is a leader in performance marketplace products and technologies. The Company was incorporated in California in April 1999 and reincorporated in Delaware in December 2009. The Company specializes in customer acquisition for clients in high value, information-intensive markets or “verticals,” including financial services, education, home services and business-to-business technology. The corporate headquarters are located in Foster City, California, with additional offices throughout the United States, Brazil and India. While the majority of the Company’s operations and revenue are in North America, the Company also has emerging businesses in Brazil and India.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany balances and transactions have been eliminated in consolidation. Unaudited Interim Financial Information The accompanying condensed consolidated financial statements and the notes to the condensed consolidated financial statements as of September 30, 2019 and for the three months ended September 30, 2019 and 2018 are unaudited. These unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2019, as filed with the SEC on August 29, 2019. The condensed consolidated balance sheet at June 30, 2019 included herein was derived from the audited financial statements as of that date, but does not include all disclosures, including notes, required by GAAP. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, include all adjustments (consisting only of normal recurring adjustments) necessary for the fair presentation of the Company’s condensed consolidated balance sheet at September 30, 2019, its condensed consolidated statements of stockholders’ equity, operations and comprehensive income for the three months ended September 30, 2019 and 2018 and condensed consolidated statements of cash flows for the three months ended September 30, 2019 and 2018. The results of operations for the three months ended September 30, 2019 are not necessarily indicative of the results to be expected for the fiscal year ending June 30, 2020, or any other future period. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the period. On an ongoing basis, management evaluates these estimates, judgments and assumptions, including those related to revenue recognition, stock-based compensation, goodwill, long-lived assets, contingencies, and income taxes. The Company bases these estimates on historical and anticipated results and trends and on various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. These estimates form the basis for making judgments about the carrying values of assets and liabilities and recorded revenue and expenses that are not readily apparent from other sources. Actual results could differ from those estimates, and such differences could affect the results of operations reported in future periods. Accounting Policies The significant accounting policies are described in Note 2, Summary of Significant Accounting Policies Leases Leases At the commencement date of a lease, the Company recognizes lease liabilities which represent its obligation to make lease payments, and right-of-use (“ROU”) assets which represent its right to use the underlying asset during the lease term. The lease liability is measured at the present value of lease payments over the lease term. As the Company’s leases typically do not provide an implicit rate, the Company uses an incremental borrowing rate based on the information available at the lease commencement date. The ROU asset is measured at cost, which includes the initial measurement of the lease liability and initial direct costs incurred by the Company and excludes lease incentives. Lease liabilities are recorded in accrued liabilities and operating lease liabilities, noncurrent. ROU assets are recorded in operating lease ROU assets. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Operating lease expense is recognized on a straight-line basis over the lease term. Lease agreements that contain both lease and non-lease components are generally accounted for separately. The Company does not recognize lease liabilities and ROU assets for short-term leases with terms of twelve months or less. Concentrations of Credit Risk The Company had one client that accounted for 18% and 25% of net revenue for the three months ended September 30, 2019 and 2018. That same client accounted for 10% and 11% of net accounts receivable as of September 30, 2019 and June 30, 2019. No other clients accounted for 10% or more of net revenue for the three months ended September 30, 2019 or 2018 or 10% or more of net accounts receivable as of September 30, 2019 or June 30, 2019. Fair Value of Financial Instruments The Company’s financial instruments consist principally of cash equivalents, accounts receivable, accounts payable, post-closing payments and contingent consideration related to acquisitions in fiscal year 2019. The recorded values of the Company’s accounts receivable and accounts payable approximate their current fair values due to the relatively short-term nature of these accounts. Cash, Cash Equivalents and Restricted Cash All highly liquid investments with maturities of three months or less at the date of purchase are classified as cash equivalents on the Company’s condensed consolidated balance sheets. As of September 30, 2018, the Company maintained $0.9 million cash restricted as collateral for letters of credit. In the second quarter of fiscal year 2019, the cash restriction from the issuing financial institution was removed. Recent Accounting Pronouncements Accounting Pronouncements Adopted Leases. In February 2016, the Financial Accounting Standards Board (the “FASB”) issued new accounting standard update on leases, which requires the recognition of lease liabilities and ROU assets on the condensed consolidated balance sheet, while recognizing expenses on the condensed consolidated income statements in a manner similar to legacy guidance. The Company adopted the new standard as of July 1, 2019 using the modified transition approach to all leases existing at the date of initial application and not restating comparative periods. The primary impact of adopting the new standard was the recognition of lease liabilities of $16.7 million and ROU assets of $13.1 million for operating leases in the first quarter of fiscal year 2020, which included reclassifying deferred rent as a component of the ROU assets. The Company's adoption of the new standard had no material impact on its consolidated condensed statement of operations and cash flows. T he Company elected certain transition practical expedient s , which allows the Company not to reassess (i) whether any expired or existing contracts as of the adoption date are or contain a lease, (ii) lease classification for any expired or existing leases as of the adoption date and (iii) initial direct costs for any existing leases as of the adoption date. In addition, the Company has elected not to recognize lease liabilities and ROU assets for short-term leases with terms of twelve months or less. See Note 10 , Leases , for further information regarding the impact of adoption of the standard on the Company’s condensed consolidated financial statements. Goodwill Impairment. In January 2017, the FASB issued a new accounting standard update to simplify the measurement of goodwill by eliminating the Step 2 impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. The new guidance requires an entity to compare the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The new guidance becomes effective for goodwill impairment tests in fiscal years beginning after December 31, 2019, with early adoption permitted. The Company early adopted the new standard effective on July 1, 2019. The adoption of this standard did not have a material impact on the Company’s condensed consolidated financial statements. Accounting Pronouncements Not Yet Adopted Fair Value Measurements. In August 2018, the FASB issued a new accounting standard which eliminates, adds and modifies certain disclosure requirements for fair value measurement. The new guidance is effective for the Company in the first quarter of fiscal year 2021. Implementation on a prospective or retrospective basis varies by specific disclosure requirement. Early adoption is permitted. The standard also allows for early adoption of any removed or modified disclosures upon issuance of the new guidance while delaying adoption of the additional disclosures until their effective date. The Company is currently assessing the impact the new guidance will have on the financial statement disclosures. There were no other significant updates to the recently issued accounting standards other than as disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2019. Although there are several other new accounting pronouncements issued or proposed by the FASB, the Company does not believe any of these accounting pronouncements has had or will have a material impact on its consolidated financial position or operating results.

Revenue

Revenue	3 Months Ended
	Sep. 30, 2019
Revenue From Contract With Customer [Abstract]
Revenue	3. Revenue Disaggregation of Revenue The following table shows the Company’s net revenue disaggregated by vertical (in thousands): Three Months Ended September 30, 2019 2018 Net revenue: Financial Services $ 92,878 $ 77,366 Education 17,398 22,439 Other 16,338 13,064 Total net revenue $ 126,614 $ 112,869 Contract Balances The following table provides information about contract liabilities from the Company’s contracts with its clients (in thousands): September 30, June 30, 2019 2019 Deferred revenue $ 839 $ 761 Client deposits 744 661 The Company’s contract liabilities result from payments received in advance of revenue recognition and advance consideration received from clients, which precede the Company’s satisfaction of the associated performance obligation .

Net Income per Share

Net Income per Share	3 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Net Income per Share	4. Net Income per Share Basic net income per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share is computed by using the weighted-average number of shares of common stock outstanding, including potential dilutive shares of common stock assuming the dilutive effect of outstanding stock options and restricted stock units using the treasury stock method. The following table presents the calculation of basic and diluted net income per share: Three Months Ended September 30, 2019 2018 (In Numerator: Basic and Diluted: Net income $ 1,132 $ 5,297 Denominator: Basic: Weighted-average shares of common stock used in computing basic net income per share 50,845 48,663 Diluted: Weighted-average shares of common stock used in computing basic net income per share 50,845 48,663 Weighted-average effect of dilutive securities: Stock options 1,286 1,884 Restricted stock units 1,195 1,894 Weighted-average shares of common stock used in computing diluted net income per share 53,326 52,441 Net income per share: Basic $ 0.02 $ 0.11 Diluted $ 0.02 $ 0.10 Securities excluded from weighted-average shares used in computing diluted net income per share because the effect would have been anti-dilutive: (1) 728 95 (1) These weighted-shares relate to anti-dilutive stock options and restricted stock units as calculated using the treasury stock method and could be dilutive in the future.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the reporting date. The Company estimates and categorizes the fair value of its financial instruments by applying the following hierarchy: Level 1 — Valuations based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to directly access. Level 2 — Valuations based on quoted prices for similar assets or liabilities; valuations for interest-bearing securities based on non-daily quoted prices in active markets; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities. Level 3 — Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement . The following presents September 30, 2019 June 30, 2019 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Money market funds $ 11,269 $ — $ — $ 11,269 $ 11,206 $ — $ — $ 11,206 Total $ 11,269 $ — $ — $ 11,269 $ 11,206 $ — $ — $ 11,206 Liabilities: Post-closing payments related to acquisitions $ — $ 16,471 $ — $ 16,471 $ — $ 16,259 $ — $ 16,259 Contingent consideration related to acquisitions — — 5,008 5,008 — — 5,058 5,058 Total $ — $ 16,471 $ 5,008 $ 21,479 $ — $ 16,259 $ 5,058 $ 21,317 Reported as: Cash and cash equivalents $ 11,269 $ 11,206 Other Liabilities: Current $ 9,015 $ 8,967 Noncurrent 12,464 12,350 Total $ 21,479 $ 21,317 There were no transfers between Level 1 and Level 2 during the periods presented The following table represents the change in the contingent consideration (in thousands): Level 3 Balance as of June 30, 2019 $ 5,058 Changes in fair value during the period — Payments made during the period (50 ) Balance as of September 30, 2019 $ 5,008 Cash Equivalents The valuation are classified as Level 1 within the fair value hierarchy Post-Closing Payments Related to Acquisitions The post-closing payments are future payments related to the Company’s acquisitions of AmOne Corp (“AmOne”), CloudControlMedia, LLC (“CCM”) MyBankTracker.com, LLC (“MBT”) in fiscal year 2019 payments Acquisitions Contingent Consideration Related to Acquisitions The contingent consideration consists of estimated future payments related to the Company’s acquisition of CCM and MBT. The fair of the contingent consideration is determined using the real options technique which incorporates various estimates, including projected net revenue and gross margin that is subject to the contingent consideration payment, a volatility factor applied to net revenue and gross margin based on year-on-year growth in net revenue and gross margin of comparable companies and discount rates. Acquisitions

Prepaid Expenses and Other Asse

Prepaid Expenses and Other Assets	3 Months Ended
	Sep. 30, 2019
Prepaid Expense And Other Assets [Abstract]
Prepaid Expenses and Other Assets	6. Prepaid Expenses and Other Assets In fiscal year 2016, the Company entered into a 10-year partnership agreement with a large online customer acquisition marketing company focused on the U.S. insurance industry to be its exclusive click monetization partner for the majority of its insurance categories

Acquisitions

Acquisitions	3 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Acquisitions	7. Acquisitions Acquisition of AmOne Corp. On October 1, 2018, the completed the purchase of AmOne, an online performance marketing company in the financial services client vertical, to broaden its publisher and customer relationships. In exchange for all outstanding shares of AmOne, the Company paid $23.0 million in upon closing (including $2.7 million cash for net assets acquired subject to post-closing adjustments) and will make $8.0 million in post-closing payments, payable in equal semi-annual installments over a two year period, with the first installment being paid six months following the date of closing. Acquisition of CloudControlMedia, LLC On April 15, 2019, the Company completed the of a marketing services company in the education client vertical, to broaden its customer relationships In exchange for all the outstanding shares of CCM, the Company paid $8.3 million in cash upon closing ( including $0.8 million cash for net assets acquired subject to post-closing adjustments) and will make a series of future payments following the acquisition date. The $7.5 million post-closing payments are payable in cash in equal semi-annual installments over a four year period, with the first installment payable six months following the date of closing. The contingent consideration is payable for five years following the date of closing and is calculated every June 30 and December 31 for the preceding six months. Acquisition of MyBankTracker.com, LLC O n May 14, 2019, completed the purchase of MBT, a leading personal finance website to broaden its customer relationships. In exchange for all the outstanding shares of MBT, the Company paid $4.5 million in cash upon closing (including $1.5 million cash for net assets acquired) and will make a series of future payments following the acquisition date. The $4.0 million post-closing payments are payable in cash in equal semi-annual installments over a two year period, with the first installment payable twelve months following the date of closing. The contingent consideration is calculated semi-annually for the preceding six months beginning on December 31, 2019 and ending on June 30, 2023. The following table summarizes the consideration for each acquisition as of the acquisition dates (in thousands): AmOne CCM MBT Cash $ 23,032 $ 8,281 $ 4,511 Post-closing adjustments for net assets acquired 138 (72 ) — Post-closing payments, net of imputed interest (1) 7,514 6,671 3,708 Contingent consideration — 3,553 1,505 Total $ 30,684 $ 18,433 $ 9,724 (1) The post-closing payment is net of imputed interest of $486 thousand for AmOne, $829 thousand for CCM and $292 thousand for MBT. The acquisitions were accounted for as business combinations and the results of operations of the acquired businesses have been included in the Company’s results of operations as of the acquisition date. The Company expensed all transaction costs in the period in which they were incurred. The Company allocated the purchase price to identifiable assets acquired based on their estimated fair values. The fair value of the consideration transferred and the assets acquired and liabilities assumed was determined by the Company and in doing so management engaged a third-party valuation specialist to assist with the measurement of the fair value of identifiable intangible assets and obligations related to post-closing payments and contingent consideration. The estimated fair value of the identifiable assets acquired and liabilities assumed in the relevant acquisition wa s based on management’s best estimates. The fair value of the publisher and advertiser relationships was determined using the multi-period excess earnings income approach or cost approach. The fair value of trade names was determined using the relief-from-royalty method. The fair value of acquired technology was determined using the cost approach. The excess of the purchase price over the aggregate fair value of the identifiable assets acquired was recorded as goodwill and is primarily attributable to synergies the Company expects to achieve related to the acquisition. The goodwill is deductible for tax purposes. The fair value of the contingent consideration was determined using the real options technique. See Note 5, Fair Value Measurements, for additional information regarding the valuation of the contingent consideration. The following table summarizes the allocation of the purchase price and the estimated useful lives of the identifiable assets acquired as of the date of the acquisition (in thousands): AmOne Estimated Useful Life CCM Estimated Useful Life MBT Estimated Useful Life Customer/publisher/advertiser relationships $ 21,300 7 years $ 4,500 3-4 years $ 3,400 3-12 years Website/trade/domain names 900 15 years 300 5 years 1,100 15 years Acquired technology and others 500 3 years — n/a — n/a Net assets 2,838 n/a 2,071 n/a 1,671 n/a Goodwill 5,146 Indefinite 11,562 Indefinite 3,553 Indefinite Total $ 30,684 $ 18,433 $ 9,724 The Company is still finalizing the allocation of the purchase price of CCM and MBT to the individual assets acquired. Accordingly, these preliminary estimates are subject date

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	3 Months Ended
	Sep. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	8. Goodwill and Intangible Assets, Net Goodwill As of September 30, 2019 and June 30, 2019, the Company had goodwill of $82.5 million. three months ended September 30, 2019 Intangible Assets, Net Intangible assets, net, consisted September 30, 2019 June 30, 2019 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Amount Amortization Amount Amount Amortization Amount Customer/publisher/advertiser relationships $ 70,297 $ (41,995 ) $ 28,302 $ 70,300 $ (40,663 ) $ 29,637 Content 60,950 (60,931 ) 19 60,964 (60,940 ) 24 Website/trade/domain names 33,541 (30,460 ) 3,081 33,546 (30,218 ) 3,328 Acquired technology and others 39,399 (37,623 ) 1,776 39,400 (37,271 ) 2,129 Total $ 204,187 $ (171,009 ) $ 33,178 $ 204,210 $ (169,092 ) $ 35,118 Amortization of intangible assets was $1.9 million and $0.7 million for the three months ended September 30, 2019 and 2018. Future amortization expense for the Company’s intangible assets as of September 30, 2019 was as follows (in thousands): Fiscal Year Ending June 30, Amortization 2020 (remaining nine months) $ 5,787 2021 6,414 2022 5,297 2023 4,698 2024 3,855 Thereafter 7,127 Total $ 33,178

Income Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	9. Income Taxes The recorded a valuation allowance against the majority of the Company’s deferred tax assets at the end of fiscal year 2014. In fiscal year 2019, due to the preponderance of positive evidence, including the Company’s cumulative profit before taxes and future forecasts of continued profitability in the United States, the Company determined that sufficient positive evidence existed to conclude that all of its valuation allowance was no longer needed. Accordingly, the Company released the valuation allowance the of its federal and state deferred tax assets. The Company continues to maintain a valuation allowance related to its deferred tax assets for its foreign entities and California research and development tax credits. If there are unfavorable changes to actual operating results or to projections of future income, the Company may determine that it is more likely than not that such deferred tax assets may not be realizable. The Company’s tax provision or benefit from income taxes for interim periods is determined using an estimate of its annual effective tax rate, adjusted adjustment The Company recorded an immaterial provision for income taxes for the three months ended September 30, 2019 and 2018.

Leases

Leases	3 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	10. Leases The Company has operating leases primarily for its office facilities. The leases expire at various dates through fiscal year 2026, terms The components Three Months Ended September 30, 2019 Operating lease expense $ 1,004 Variable lease expense (1) 144 Short-term lease expense 288 Total lease expense $ 1,436 (1) Variable lease expense for the three months ended September 30, 2019 primarily included common area maintenance charges. Rent expense was $1.0 million during the three months ended September 30, 2018, which was recognized using the straight-line method over the term of a lease in accordance with legacy guidance. Supplemental information related to operating leases was as follows (in thousands, except lease term and discount rate): Three Months Ended September 30, 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows used for operating leases $ 1,172 Lease liabilities arising from obtaining right-of-use assets Operating leases $ — Weighted average remaining lease term - operating leases 4.6 years Weighted average discount rate - operating leases 4.5 % The implicit rate within each lease is not readily determinable and therefore the Company uses its incremental borrowing rate at the lease commencement date to determine the present value of the lease payments. The determination of the incremental borrowing rate requires judgement. The Company determined its incremental borrowing rate for each lease using indicative bank borrowing rates, adjusted for various factors including level of collateralization, term and currency to align with the terms of a lease. Maturities of operating Fiscal Year Ending June 30, September 30, 2019 2020 (remaining nine months) $ 2,569 2021 4,543 2022 4,264 2023 3,834 2024 1,810 Thereafter 183 Total minimum lease payments $ 17,203 Less imputed interest (1,733 ) Present value of net minimum lease payments $ 15,470 Operating lease liabilities: Current 3,620 Noncurrent 11,850 Total $ 15,470 Future annual minimum lease payments under noncancellable operating leases as of June 30, 2019 were as follows (in thousands): Operating Fiscal Year Ending June 30, Leases 2020 $ 3,529 2021 4,263 2022 4,234 2023 3,801 2024 1,312 Thereafter 176 Total $ 17,315

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Sep. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies Guarantor Arrangements The Company has agreements whereby it indemnifies its officers and directors for certain events or occurrences while the officer or director is, or was, serving at the Company’s request in such capacity. The term of the indemnification period is for the officer or director’s lifetime In the ordinary course of its business, the Company from time to time enters into standard indemnification provisions in its agreements with its clients. Pursuant Letters of Credit The Company has a $0.4 million letter of credit agreement with a financial institution that is used as collateral for fidelity bonds placed with an insurance

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Stockholders' Equity	12. Stockholders’ Equity Stock Repurchases In July 2017, the Board of Directors authorized a stock repurchase program to repurchase up to 905,000 outstanding shares of its common stock. In October 2017, the Board of Directors increased the number of outstanding shares that may be repurchased to 966,000 shares. Under this program, in fiscal year 2018, the Company repurchased and retired 62,364 shares of its common stock at a weighted-average price of $8.36 per share, excluding a broker commission of $0.03 per share, at a total cost of $0.5 million. Repurchases under this program took place in the open market and were made under a Rule 10b5-1 plan. There were no repurchases made during fiscal year 2019 and the three months ended September 30, 2019. As of September 30, 2019, the number of shares that remains available for repurchase is 903,636 shares. The Company’s

Stock Benefit Plans

Stock Benefit Plans	3 Months Ended
	Sep. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Benefit Plans	13. Stock Benefit Plans Stock Incentive Plans The Company may grant incentive stock options (“ISOs”), nonstatutory stock options (“NQSOs”), restricted stock, restricted stock units (“RSUs”), stock appreciation rights, performance-based stock awards, and other forms of equity compensation, as well as performance cash awards, under its 2010 Equity Incentive Plan (the “2010 Incentive Plan”). The Company may grant NQSOs and RSUs to non-employee directors under the 2010 Non-Employee Directors’ Stock Award Plan (the “Directors’ Plan”). Prior to fiscal year 2016, the Company granted RSUs with a service condition (“service-based RSUs”). In fiscal year 2016, the Company also began granting to employees RSUs with a market condition (“market-based RSUs”) that requires the Company’s stock price achieve a specified price above the grant date stock price before it can be eligible for service vesting conditions. In fiscal year 2019, the Company began granting to employees RSUs with a performance condition (“performance-based RSUs”) that vest variably subject to the achievement of certain revenue growth and adjusted EBITDA targets (“performance targets”). The Company evaluates the portion of the awards that are probable to vest quarterly until the performance targets are met. To date, the Company has issued ISOs, NQSOs, service-based RSUs, market-based RSUs and performance-based RSUs under its stock incentive plans. As of September 30, 2019, 23,390,511 shares were reserved and 16,168,517 shares were available for issuance under the 2010 Incentive Plan; 4,333,939 shares were reserved and 2,270,504 shares were available for issuance under the Directors’ Plan. Stock-Based Compensation The Company estimates the fair value of stock options at the date of grant using the Black-Scholes option-pricing model. Options are granted with an exercise price equal to the closing price of the Company’s common stock on the date of grant. The weighted-average Black-Scholes model assumptions for the three months ended September 30, 2019 and 2018 were as follows: Three Months Ended September 30, 2019 2018 Expected term (in years) 4.5 4.3 Expected volatility 57 % 55 % Expected dividend yield — — Risk-free interest rate 1.5 % 2.8 % Grant date fair value $ 5.11 $ 6.56 The Company estimates the fair value of service-based RSUs and performance-based RSUs based on the closing price of the Company’s common stock on the grant date. As some of the components that comprise the performance targets have not been fully established, a grant date as defined by ASC 718 has not been determined. The Company will re-measure the compensation expense associated with the performance-based RSUs at each reporting date based on the closing price of the Company’s common stock at each reporting date until the grant date has been established. Compensation expense is amortized net of estimated forfeitures on a straight-line basis over the requisite service period of the stock-based compensation awards.

Segment Information

Segment Information	3 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Segment Information	14. Segment Information Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker, its chief executive officer, reviews financial information presented on a consolidated basis and no expense or operating income is evaluated at a segment level. Given the consolidated level of review by the Company’s chief executive officer, the Company operates as one reportable segment. The following tables set forth net revenue and long-lived assets by geographic area (in thousands): Three Months Ended September 30, 2019 2018 Net revenue: United States $ 124,186 $ 110,788 International 2,428 2,081 Total net revenue $ 126,614 $ 112,869 September 30, June 30, 2019 2019 Property and equipment, net: United States $ 5,159 $ 5,149 International 241 261 Total property and equipment, net $ 5,400 $ 5,410 September 30, June 30, 2019 2019 Other intangible assets, net: United States $ 33,122 $ 35,044 International 56 74 Total other intangible assets, net $ 33,178 $ 35,118

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany balances and transactions have been eliminated in consolidation.
Unaudited Interim Financial Information	Unaudited Interim Financial Information The accompanying condensed consolidated financial statements and the notes to the condensed consolidated financial statements as of September 30, 2019 and for the three months ended September 30, 2019 and 2018 are unaudited. These unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2019, as filed with the SEC on August 29, 2019. The condensed consolidated balance sheet at June 30, 2019 included herein was derived from the audited financial statements as of that date, but does not include all disclosures, including notes, required by GAAP. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, include all adjustments (consisting only of normal recurring adjustments) necessary for the fair presentation of the Company’s condensed consolidated balance sheet at September 30, 2019, its condensed consolidated statements of stockholders’ equity, operations and comprehensive income for the three months ended September 30, 2019 and 2018 and condensed consolidated statements of cash flows for the three months ended September 30, 2019 and 2018. The results of operations for the three months ended September 30, 2019 are not necessarily indicative of the results to be expected for the fiscal year ending June 30, 2020, or any other future period.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the period. On an ongoing basis, management evaluates these estimates, judgments and assumptions, including those related to revenue recognition, stock-based compensation, goodwill, long-lived assets, contingencies, and income taxes. The Company bases these estimates on historical and anticipated results and trends and on various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. These estimates form the basis for making judgments about the carrying values of assets and liabilities and recorded revenue and expenses that are not readily apparent from other sources. Actual results could differ from those estimates, and such differences could affect the results of operations reported in future periods.
Accounting Policies	Accounting Policies The significant accounting policies are described in Note 2, Summary of Significant Accounting Policies Leases
Leases	Leases At the commencement date of a lease, the Company recognizes lease liabilities which represent its obligation to make lease payments, and right-of-use (“ROU”) assets which represent its right to use the underlying asset during the lease term. The lease liability is measured at the present value of lease payments over the lease term. As the Company’s leases typically do not provide an implicit rate, the Company uses an incremental borrowing rate based on the information available at the lease commencement date. The ROU asset is measured at cost, which includes the initial measurement of the lease liability and initial direct costs incurred by the Company and excludes lease incentives. Lease liabilities are recorded in accrued liabilities and operating lease liabilities, noncurrent. ROU assets are recorded in operating lease ROU assets. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Operating lease expense is recognized on a straight-line basis over the lease term. Lease agreements that contain both lease and non-lease components are generally accounted for separately. The Company does not recognize lease liabilities and ROU assets for short-term leases with terms of twelve months or less.
Concentrations of Credit Risk	Concentrations of Credit Risk The Company had one client that accounted for 18% and 25% of net revenue for the three months ended September 30, 2019 and 2018. That same client accounted for 10% and 11% of net accounts receivable as of September 30, 2019 and June 30, 2019. No other clients accounted for 10% or more of net revenue for the three months ended September 30, 2019 or 2018 or 10% or more of net accounts receivable as of September 30, 2019 or June 30, 2019.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial instruments consist principally of cash equivalents, accounts receivable, accounts payable, post-closing payments and contingent consideration related to acquisitions in fiscal year 2019. The recorded values of the Company’s accounts receivable and accounts payable approximate their current fair values due to the relatively short-term nature of these accounts.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash All highly liquid investments with maturities of three months or less at the date of purchase are classified as cash equivalents on the Company’s condensed consolidated balance sheets. As of September 30, 2018, the Company maintained $0.9 million cash restricted as collateral for letters of credit. In the second quarter of fiscal year 2019, the cash restriction from the issuing financial institution was removed.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Pronouncements Adopted Leases. In February 2016, the Financial Accounting Standards Board (the “FASB”) issued new accounting standard update on leases, which requires the recognition of lease liabilities and ROU assets on the condensed consolidated balance sheet, while recognizing expenses on the condensed consolidated income statements in a manner similar to legacy guidance. The Company adopted the new standard as of July 1, 2019 using the modified transition approach to all leases existing at the date of initial application and not restating comparative periods. The primary impact of adopting the new standard was the recognition of lease liabilities of $16.7 million and ROU assets of $13.1 million for operating leases in the first quarter of fiscal year 2020, which included reclassifying deferred rent as a component of the ROU assets. The Company's adoption of the new standard had no material impact on its consolidated condensed statement of operations and cash flows. T he Company elected certain transition practical expedient s , which allows the Company not to reassess (i) whether any expired or existing contracts as of the adoption date are or contain a lease, (ii) lease classification for any expired or existing leases as of the adoption date and (iii) initial direct costs for any existing leases as of the adoption date. In addition, the Company has elected not to recognize lease liabilities and ROU assets for short-term leases with terms of twelve months or less. See Note 10 , Leases , for further information regarding the impact of adoption of the standard on the Company’s condensed consolidated financial statements. Goodwill Impairment. In January 2017, the FASB issued a new accounting standard update to simplify the measurement of goodwill by eliminating the Step 2 impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. The new guidance requires an entity to compare the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The new guidance becomes effective for goodwill impairment tests in fiscal years beginning after December 31, 2019, with early adoption permitted. The Company early adopted the new standard effective on July 1, 2019. The adoption of this standard did not have a material impact on the Company’s condensed consolidated financial statements. Accounting Pronouncements Not Yet Adopted Fair Value Measurements. In August 2018, the FASB issued a new accounting standard which eliminates, adds and modifies certain disclosure requirements for fair value measurement. The new guidance is effective for the Company in the first quarter of fiscal year 2021. Implementation on a prospective or retrospective basis varies by specific disclosure requirement. Early adoption is permitted. The standard also allows for early adoption of any removed or modified disclosures upon issuance of the new guidance while delaying adoption of the additional disclosures until their effective date. The Company is currently assessing the impact the new guidance will have on the financial statement disclosures. There were no other significant updates to the recently issued accounting standards other than as disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2019. Although there are several other new accounting pronouncements issued or proposed by the FASB, the Company does not believe any of these accounting pronouncements has had or will have a material impact on its consolidated financial position or operating results.
Net Income per Share	Basic net income per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share is computed by using the weighted-average number of shares of common stock outstanding, including potential dilutive shares of common stock assuming the dilutive effect of outstanding stock options and restricted stock units using the treasury stock method.
Cash Equivalents	Cash Equivalents The valuation are classified as Level 1 within the fair value hierarchy
Stock Repurchases	The Company’s
Segment Information	Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker, its chief executive officer, reviews financial information presented on a consolidated basis and no expense or operating income is evaluated at a segment level. Given the consolidated level of review by the Company’s chief executive officer, the Company operates as one reportable segment.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Sep. 30, 2019
Revenue From Contract With Customer [Abstract]
Schedule of Disaggregation of Net Revenue	The following table shows the Company’s net revenue disaggregated by vertical (in thousands): Three Months Ended September 30, 2019 2018 Net revenue: Financial Services $ 92,878 $ 77,366 Education 17,398 22,439 Other 16,338 13,064 Total net revenue $ 126,614 $ 112,869
Schedule of Contract Liabilities From Contracts With Clients	The following table provides information about contract liabilities from the Company’s contracts with its clients (in thousands): September 30, June 30, 2019 2019 Deferred revenue $ 839 $ 761 Client deposits 744 661

Net Income per Share (Tables)

Net Income per Share (Tables)	3 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Net Income per Share	The following table presents the calculation of basic and diluted net income per share: Three Months Ended September 30, 2019 2018 (In Numerator: Basic and Diluted: Net income $ 1,132 $ 5,297 Denominator: Basic: Weighted-average shares of common stock used in computing basic net income per share 50,845 48,663 Diluted: Weighted-average shares of common stock used in computing basic net income per share 50,845 48,663 Weighted-average effect of dilutive securities: Stock options 1,286 1,884 Restricted stock units 1,195 1,894 Weighted-average shares of common stock used in computing diluted net income per share 53,326 52,441 Net income per share: Basic $ 0.02 $ 0.11 Diluted $ 0.02 $ 0.10 Securities excluded from weighted-average shares used in computing diluted net income per share because the effect would have been anti-dilutive: (1) 728 95 (1) These weighted-shares relate to anti-dilutive stock options and restricted stock units as calculated using the treasury stock method and could be dilutive in the future.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Financial Instruments Measured at Fair Value on Recurring Basis	The following presents September 30, 2019 June 30, 2019 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Money market funds $ 11,269 $ — $ — $ 11,269 $ 11,206 $ — $ — $ 11,206 Total $ 11,269 $ — $ — $ 11,269 $ 11,206 $ — $ — $ 11,206 Liabilities: Post-closing payments related to acquisitions $ — $ 16,471 $ — $ 16,471 $ — $ 16,259 $ — $ 16,259 Contingent consideration related to acquisitions — — 5,008 5,008 — — 5,058 5,058 Total $ — $ 16,471 $ 5,008 $ 21,479 $ — $ 16,259 $ 5,058 $ 21,317 Reported as: Cash and cash equivalents $ 11,269 $ 11,206 Other Liabilities: Current $ 9,015 $ 8,967 Noncurrent 12,464 12,350 Total $ 21,479 $ 21,317
Schedule of Change in Contingent Consideration	The following table represents the change in the contingent consideration (in thousands): Level 3 Balance as of June 30, 2019 $ 5,058 Changes in fair value during the period — Payments made during the period (50 ) Balance as of September 30, 2019 $ 5,008

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Schedule of Consideration	The following table summarizes the consideration for each acquisition as of the acquisition dates (in thousands): AmOne CCM MBT Cash $ 23,032 $ 8,281 $ 4,511 Post-closing adjustments for net assets acquired 138 (72 ) — Post-closing payments, net of imputed interest (1) 7,514 6,671 3,708 Contingent consideration — 3,553 1,505 Total $ 30,684 $ 18,433 $ 9,724 (1) The post-closing payment is net of imputed interest of $486 thousand for AmOne, $829 thousand for CCM and $292 thousand for MBT.
Summary of Allocation of Purchase Price and Estimated Useful Lives of the Identifiable Assets Acquired	The following table summarizes the allocation of the purchase price and the estimated useful lives of the identifiable assets acquired as of the date of the acquisition (in thousands): AmOne Estimated Useful Life CCM Estimated Useful Life MBT Estimated Useful Life Customer/publisher/advertiser relationships $ 21,300 7 years $ 4,500 3-4 years $ 3,400 3-12 years Website/trade/domain names 900 15 years 300 5 years 1,100 15 years Acquired technology and others 500 3 years — n/a — n/a Net assets 2,838 n/a 2,071 n/a 1,671 n/a Goodwill 5,146 Indefinite 11,562 Indefinite 3,553 Indefinite Total $ 30,684 $ 18,433 $ 9,724

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	3 Months Ended
	Sep. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets, Net Intangible assets, net, consisted September 30, 2019 June 30, 2019 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Amount Amortization Amount Amount Amortization Amount Customer/publisher/advertiser relationships $ 70,297 $ (41,995 ) $ 28,302 $ 70,300 $ (40,663 ) $ 29,637 Content 60,950 (60,931 ) 19 60,964 (60,940 ) 24 Website/trade/domain names 33,541 (30,460 ) 3,081 33,546 (30,218 ) 3,328 Acquired technology and others 39,399 (37,623 ) 1,776 39,400 (37,271 ) 2,129 Total $ 204,187 $ (171,009 ) $ 33,178 $ 204,210 $ (169,092 ) $ 35,118
Amortization Expense	Future amortization expense for the Company’s intangible assets as of September 30, 2019 was as follows (in thousands): Fiscal Year Ending June 30, Amortization 2020 (remaining nine months) $ 5,787 2021 6,414 2022 5,297 2023 4,698 2024 3,855 Thereafter 7,127 Total $ 33,178

Leases (Tables)

Leases (Tables)	3 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Components of Lease Expense	The components Three Months Ended September 30, 2019 Operating lease expense $ 1,004 Variable lease expense (1) 144 Short-term lease expense 288 Total lease expense $ 1,436 (1) Variable lease expense for the three months ended September 30, 2019 primarily included common area maintenance charges.
Supplemental Information Related to Operating Leases	Supplemental information related to operating leases was as follows (in thousands, except lease term and discount rate): Three Months Ended September 30, 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows used for operating leases $ 1,172 Lease liabilities arising from obtaining right-of-use assets Operating leases $ — Weighted average remaining lease term - operating leases 4.6 years Weighted average discount rate - operating leases 4.5 %
Maturities of Operating Lease Liabilities	Maturities of operating Fiscal Year Ending June 30, September 30, 2019 2020 (remaining nine months) $ 2,569 2021 4,543 2022 4,264 2023 3,834 2024 1,810 Thereafter 183 Total minimum lease payments $ 17,203 Less imputed interest (1,733 ) Present value of net minimum lease payments $ 15,470 Operating lease liabilities: Current 3,620 Noncurrent 11,850 Total $ 15,470
Future Annual Minimum Lease Payments under Noncancelable Operating Leases	Future annual minimum lease payments under noncancellable operating leases as of June 30, 2019 were as follows (in thousands): Operating Fiscal Year Ending June 30, Leases 2020 $ 3,529 2021 4,263 2022 4,234 2023 3,801 2024 1,312 Thereafter 176 Total $ 17,315

Stock Benefit Plans (Tables)

Stock Benefit Plans (Tables)	3 Months Ended
	Sep. 30, 2019
Stock options [Member]
Schedule of Weighted Average Assumptions	The weighted-average Black-Scholes model assumptions for the three months ended September 30, 2019 and 2018 were as follows: Three Months Ended September 30, 2019 2018 Expected term (in years) 4.5 4.3 Expected volatility 57 % 55 % Expected dividend yield — — Risk-free interest rate 1.5 % 2.8 % Grant date fair value $ 5.11 $ 6.56

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Net Revenue and Long-Lived Assets by Geographic Area	The following tables set forth net revenue and long-lived assets by geographic area (in thousands): Three Months Ended September 30, 2019 2018 Net revenue: United States $ 124,186 $ 110,788 International 2,428 2,081 Total net revenue $ 126,614 $ 112,869 September 30, June 30, 2019 2019 Property and equipment, net: United States $ 5,159 $ 5,149 International 241 261 Total property and equipment, net $ 5,400 $ 5,410 September 30, June 30, 2019 2019 Other intangible assets, net: United States $ 33,122 $ 35,044 International 56 74 Total other intangible assets, net $ 33,178 $ 35,118

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2019USD ($)Client	Sep. 30, 2018USD ($)Client	Jun. 30, 2019USD ($)Client	Jul. 01, 2019USD ($)
Summary Of Significant Accounting Policies [Line Items]
Restricted cash as collateral for letters of credit | $		$ 900
Right of use assets | $	$ 12,114		$ 0	$ 13,100
Lease liability | $	$ 15,470			$ 16,700
Customer Concentration Risk [Member] | Net revenue [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of clients accounted for more than 10% of net revenue	1	1
Concentration risk percentage accounted by major clients	18.00%	25.00%
Number of other clients accounted for more than 10% of net revenue	0	0
Customer Concentration Risk [Member] | Accounts Receivable [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of other clients accounted for more than 10% of net accounts receivable	0		0
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Client Two [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk percentage accounted by major clients	10.00%		11.00%
Number of clients accounted for 10% or more than 10% of net accounts receivable	1		1

Revenue - Schedule of Disaggreg

Revenue - Schedule of Disaggregation of Net Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Disaggregation Of Revenue [Line Items]
Net revenue	$ 126,614	$ 112,869
Financial Services [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	92,878	77,366
Education [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	17,398	22,439
Other [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	$ 16,338	$ 13,064

Revenue - Schedule of Contract

Revenue - Schedule of Contract Liabilities From Contracts With Clients (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Contract With Customer Asset And Liability [Abstract]
Deferred revenue	$ 839	$ 761
Client deposits	$ 744	$ 661

Revenue - Additional Informatio

Revenue - Additional Information (Detail) $ in Millions	3 Months Ended
	Sep. 30, 2019USD ($)
Revenue From Contract With Customer [Abstract]
Revenue recognized	$ 2.2

Net Income per Share - Calculat

Net Income per Share - Calculation of Basic and Diluted Net Income per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended
		Sep. 30, 2019	Sep. 30, 2018
Basic and Diluted:
Net income		$ 1,132	$ 5,297
Basic:
Weighted-average shares of common stock used in computing basic net income per share		50,845	48,663
Diluted:
Weighted-average shares of common stock used in computing basic net income per share		50,845	48,663
Weighted-average effect of dilutive securities:
Weighted-average shares of common stock used in computing diluted net income per share		53,326	52,441
Net income per share:
Basic		$ 0.02	$ 0.11
Diluted		$ 0.02	$ 0.10
Securities excluded from weighted-average shares used in computing diluted net income per share because the effect would have been anti-dilutive:	[1]	728	95
Stock options [Member]
Weighted-average effect of dilutive securities:
Weighted-average effect of dilutive securities		1,286	1,884
Restricted stock units [Member]
Weighted-average effect of dilutive securities:
Weighted-average effect of dilutive securities		1,195	1,894
[1]	These weighted-shares relate to anti-dilutive stock options and restricted stock units as calculated using the treasury stock method and could be dilutive in the future.

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value of Financial Instruments Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Assets:
Total Assets	$ 11,269	$ 11,206
Liabilities:
Total Liabilities	21,479	21,317
Cash and cash equivalents	11,269	11,206
Other Liabilities:
Other Liabilities	21,479	21,317
Current [Member]
Other Liabilities:
Other Liabilities	9,015	8,967
Non Current [Member]
Other Liabilities:
Other Liabilities	12,464	12,350
Post-closing payments related to acquisitions [Member]
Liabilities:
Total Liabilities	16,471	16,259
Contingent consideration related to acquisitions [Member]
Liabilities:
Total Liabilities	5,008	5,058
Money market funds [Member]
Assets:
Total Assets	11,269	11,206
Level 1 [Member]
Assets:
Total Assets	11,269	11,206
Liabilities:
Total Liabilities	0	0
Level 1 [Member] | Post-closing payments related to acquisitions [Member]
Liabilities:
Total Liabilities	0	0
Level 1 [Member] | Contingent consideration related to acquisitions [Member]
Liabilities:
Total Liabilities	0	0
Level 1 [Member] | Money market funds [Member]
Assets:
Total Assets	11,269	11,206
Level 2 [Member]
Assets:
Total Assets	0	0
Liabilities:
Total Liabilities	16,471	16,259
Level 2 [Member] | Post-closing payments related to acquisitions [Member]
Liabilities:
Total Liabilities	16,471	16,259
Level 2 [Member] | Contingent consideration related to acquisitions [Member]
Liabilities:
Total Liabilities	0	0
Level 2 [Member] | Money market funds [Member]
Assets:
Total Assets	0	0
Level 3 [Member]
Assets:
Total Assets	0	0
Liabilities:
Total Liabilities	5,008	5,058
Level 3 [Member] | Post-closing payments related to acquisitions [Member]
Liabilities:
Total Liabilities	0	0
Level 3 [Member] | Contingent consideration related to acquisitions [Member]
Liabilities:
Total Liabilities	5,008	5,058
Level 3 [Member] | Money market funds [Member]
Assets:
Total Assets	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	Sep. 30, 2019	Sep. 30, 2018
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Abstract]
Fair value, assets, level 1 to level 2 transfers, amount	$ 0	$ 0
Fair value, assets, level 2 to level 1 transfers, amount	0	0
Fair value, liabilities, level 1 to level 2 transfers, amount	0	0
Fair value, liabilities, level 2 to level 1 transfers, amount	$ 0	$ 0

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Change in Contingent Consideration (Detail) $ in Thousands	3 Months Ended
	Sep. 30, 2019USD ($)
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Abstract]
Balance as of June 30, 2019	$ 5,058
Changes in fair value during the period	0
Payments made during the period	(50)
Balance as of September 30, 2019	$ 5,008

Prepaid Expenses and Other As_2

Prepaid Expenses and Other Assets - Additional Information (Detail) - Partnership Agreement [Member] - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2016	Jun. 30, 2019
Prepaid expenses and other assets [Line Items]
Partnership agreement			10 years
Upfront cash payment			$ 10
Prepaid expenses and other assets	$ 1			$ 1
Other assets, noncurrent	5			$ 5.3
Amortization expense	$ 0.3	$ 0.3

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands	May 14, 2019	Apr. 15, 2019	Oct. 01, 2018
AmOne Corp [Member]
Business Acquisition [Line Items]
Closing date of acquisition			Oct. 1, 2018
Cash paid upon closing			$ 23,032
Cash paid for net assets acquired			2,700
Business Combination, post-closing payments			$ 8,000
Business combination, deferred consideration payment period			2 years
Business combination, deferred consideration payment description			post-closing payments, payable in equal semi-annual installments over a two year period, with the first installment being paid six months following the date of closing.
Date of acquisition			Oct. 1, 2018
CloudControlMedia, LLC [Member]
Business Acquisition [Line Items]
Closing date of acquisition		Apr. 15, 2019
Cash paid upon closing		$ 8,281
Cash paid for net assets acquired		800
Business Combination, post-closing payments		$ 7,500
Business combination, deferred consideration payment period		4 years
Business combination, deferred consideration payment description		The $7.5 million post-closing payments are payable in cash in equal semi-annual installments over a four year period, with the first installment payable six months following the date of closing.
Date of acquisition		Apr. 15, 2019
Business combination, contingent consideration payment description		The contingent consideration is payable for five years following the date of closing and is calculated every June 30 and December 31 for the preceding six months.
Business combination contingent consideration payable period		5 years
MyBankTracker.com, LLC [Member]
Business Acquisition [Line Items]
Closing date of acquisition	May 14, 2019
Cash paid upon closing	$ 4,511
Cash paid for net assets acquired	1,500
Business Combination, post-closing payments	$ 4,000
Business combination, deferred consideration payment period	2 years
Business combination, deferred consideration payment description	The $4.0 million post-closing payments are payable in cash in equal semi-annual installments over a two year period, with the first installment payable twelve months following the date of closing.
Date of acquisition	May 14, 2019
Business combination, contingent consideration payment description	The contingent consideration is calculated semi-annually for the preceding six months beginning on December 31, 2019 and ending on June 30, 2023.

Acquisitions - Schedule of Cons

Acquisitions - Schedule of Consideration (Detail) - USD ($) $ in Thousands		May 14, 2019	Apr. 15, 2019	Oct. 01, 2018
AmOne Corp [Member]
Business Acquisition [Line Items]
Cash				$ 23,032
Post-closing adjustments for net assets acquired				138
Post-closing payments, net of imputed interest	[1]			7,514
Contingent consideration				0
Total				$ 30,684
CloudControlMedia, LLC [Member]
Business Acquisition [Line Items]
Cash			$ 8,281
Post-closing adjustments for net assets acquired			(72)
Post-closing payments, net of imputed interest	[1]		6,671
Contingent consideration			3,553
Total			$ 18,433
MyBankTracker.com, LLC [Member]
Business Acquisition [Line Items]
Cash		$ 4,511
Post-closing adjustments for net assets acquired		0
Post-closing payments, net of imputed interest	[1]	3,708
Contingent consideration		1,505
Total		$ 9,724
[1]	The post-closing payment is net of imputed interest of $486 thousand for AmOne, $829 thousand for CCM and $292 thousand for MBT

Acquisitions - Schedule of Co_2

Acquisitions - Schedule of Consideration (Parenthetical) (Detail) $ in Thousands	3 Months Ended
	Sep. 30, 2019USD ($)
AmOne Corp [Member]
Business Acquisition [Line Items]
Post-closing payments, imputed interest	$ 486
CloudControlMedia, LLC [Member]
Business Acquisition [Line Items]
Post-closing payments, imputed interest	829
MyBankTracker.com, LLC [Member]
Business Acquisition [Line Items]
Post-closing payments, imputed interest	$ 292

Acquisitions - Summary of Alloc

Acquisitions - Summary of Allocation of Purchase Price and Estimated Useful Lives of the Identifiable Assets Acquired (Detail) - USD ($) $ in Thousands	May 14, 2019	Apr. 15, 2019	Oct. 01, 2018	Sep. 30, 2019	Jun. 30, 2019
Business Acquisition [Line Items]
Goodwill				$ 82,544	$ 82,544
AmOne Corp [Member]
Business Acquisition [Line Items]
Goodwill			$ 5,146
Total purchase price			30,684
AmOne Corp [Member] | Customer/publisher/advertiser relationships [Member]
Business Acquisition [Line Items]
Estimated Fair Value			$ 21,300
Estimated Useful Life			7 years
AmOne Corp [Member] | Website/trade/domain names [Member]
Business Acquisition [Line Items]
Estimated Fair Value			$ 900
Estimated Useful Life			15 years
AmOne Corp [Member] | Acquired technology and others [Member]
Business Acquisition [Line Items]
Estimated Fair Value			$ 500
Estimated Useful Life			3 years
AmOne Corp [Member] | Net assets [Member]
Business Acquisition [Line Items]
Estimated Fair Value			$ 2,838
CloudControlMedia, LLC [Member]
Business Acquisition [Line Items]
Goodwill		$ 11,562
Total purchase price		18,433
CloudControlMedia, LLC [Member] | Customer/publisher/advertiser relationships [Member]
Business Acquisition [Line Items]
Estimated Fair Value		$ 4,500
CloudControlMedia, LLC [Member] | Customer/publisher/advertiser relationships [Member] | Minimum [Member]
Business Acquisition [Line Items]
Estimated Useful Life		3 years
CloudControlMedia, LLC [Member] | Customer/publisher/advertiser relationships [Member] | Maximum [Member]
Business Acquisition [Line Items]
Estimated Useful Life		4 years
CloudControlMedia, LLC [Member] | Website/trade/domain names [Member]
Business Acquisition [Line Items]
Estimated Fair Value		$ 300
Estimated Useful Life		5 years
CloudControlMedia, LLC [Member] | Acquired technology and others [Member]
Business Acquisition [Line Items]
Estimated Fair Value		$ 0
CloudControlMedia, LLC [Member] | Net assets [Member]
Business Acquisition [Line Items]
Estimated Fair Value		$ 2,071
MyBankTracker.com, LLC [Member]
Business Acquisition [Line Items]
Goodwill	$ 3,553
Total purchase price	9,724
MyBankTracker.com, LLC [Member] | Customer/publisher/advertiser relationships [Member]
Business Acquisition [Line Items]
Estimated Fair Value	$ 3,400
MyBankTracker.com, LLC [Member] | Customer/publisher/advertiser relationships [Member] | Minimum [Member]
Business Acquisition [Line Items]
Estimated Useful Life	3 years
MyBankTracker.com, LLC [Member] | Customer/publisher/advertiser relationships [Member] | Maximum [Member]
Business Acquisition [Line Items]
Estimated Useful Life	12 years
MyBankTracker.com, LLC [Member] | Website/trade/domain names [Member]
Business Acquisition [Line Items]
Estimated Fair Value	$ 1,100
Estimated Useful Life	15 years
MyBankTracker.com, LLC [Member] | Acquired technology and others [Member]
Business Acquisition [Line Items]
Estimated Fair Value	$ 0
MyBankTracker.com, LLC [Member] | Net assets [Member]
Business Acquisition [Line Items]
Estimated Fair Value	$ 1,671

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net - Additional Information (Detail) - USD ($)	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	$ 82,544,000		$ 82,544,000
Impairments to goodwill	0
Amortization of intangible assets	$ 1,900,000	$ 700,000

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net - Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 204,187	$ 204,210
Accumulated Amortization	(171,009)	(169,092)
Net Carrying Amount	33,178	35,118
Customer/publisher/advertiser relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	70,297	70,300
Accumulated Amortization	(41,995)	(40,663)
Net Carrying Amount	28,302	29,637
Content [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	60,950	60,964
Accumulated Amortization	(60,931)	(60,940)
Net Carrying Amount	19	24
Website/trade/domain names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	33,541	33,546
Accumulated Amortization	(30,460)	(30,218)
Net Carrying Amount	3,081	3,328
Acquired technology and others [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	39,399	39,400
Accumulated Amortization	(37,623)	(37,271)
Net Carrying Amount	$ 1,776	$ 2,129

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, Net - Amortization Expense (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Finite Lived Intangible Assets Future Amortization Expense [Abstract]
2020 (remaining nine months)	$ 5,787
2021	6,414
2022	5,297
2023	4,698
2024	3,855
Thereafter	7,127
Net Carrying Amount	$ 33,178	$ 35,118

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2019
Operating Leased Assets [Line Items]
Rent expense	$ 1
Maximum [Member]
Operating Leased Assets [Line Items]
Lessee, operating lease, renewal term		5 years

Leases- Components of Lease Exp

Leases- Components of Lease Expense (Detail) $ in Thousands	3 Months Ended
	Sep. 30, 2019USD ($)
Lease Cost [Abstract]
Operating lease expense	$ 1,004
Variable lease expense	144	[1]
Short-term lease expense	288
Total lease expense	$ 1,436
[1]	Variable lease expense for the three months ended September 30, 2019 primarily included common area maintenance charges.

Leases - Supplemental Informati

Leases - Supplemental Information Related to Operating Leases (Detail) $ in Thousands	3 Months Ended
	Sep. 30, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for operating leases	$ 1,172
Lease liabilities arising from obtaining right-of-use assets
Operating lease liabilities arising from obtaining right-of-use assets	$ 0
Weighted average remaining lease term - operating leases	4 years 7 months 6 days
Weighted average discount rate - operating leases	4.50%

Leases - Maturities of Operatin

Leases - Maturities of Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Jul. 01, 2019	Jun. 30, 2019
Lease Cost [Abstract]
2020 (remaining nine months)	$ 2,569
2021	4,543
2022	4,264
2023	3,834
2024	1,810
Thereafter	183
Total minimum lease payments	17,203
Less imputed interest	(1,733)
Present value of net minimum lease payments	15,470	$ 16,700
Operating lease liabilities:
Current	3,620
Noncurrent	11,850		$ 0
Present value of net minimum lease payments	$ 15,470	$ 16,700

Leases - Future Annual Minimum

Leases - Future Annual Minimum Lease Payments under Noncancelable Operating Leases (Detail) $ in Thousands	Jun. 30, 2019USD ($)
Leases [Abstract]
2020	$ 3,529
2021	4,263
2022	4,234
2023	3,801
2024	1,312
Thereafter	176
Total	$ 17,315

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	3 Months Ended
	Sep. 30, 2019	Jun. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Estimated fair value of indemnification agreements	$ 0	$ 0
Estimated fair value of indemnity provisions	0	$ 0
Letter of credit agreement with a financial institution that is used as collateral for fidelity bonds placed with an insurance company	400,000
Letter of credit agreement with a financial institution that is used as collateral for the Company's corporate headquarters' operating lease	$ 500,000
Letters of credit automatically renew annually without amendment on the annual expiration date	30 days

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Jun. 30, 2018	Oct. 31, 2017	Jul. 31, 2017
Maximum [Member]
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, number of outstanding shares authorized to repurchase				966,000	905,000
July 2017 Stock Repurchase Program [Member]
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, number of shares repurchased and retired			62,364
Stock repurchase program, weighted average price			$ 8.36
Broker commission, per share			$ 0.03
Stock repurchase program, value of shares repurchased			$ 0.5
Stock repurchase program, number of shares repurchased	0	0
Stock repurchase program, remaining available for repurchase	903,636

Stock Benefit Plans - Additiona

Stock Benefit Plans - Additional Information (Detail)	Sep. 30, 2019shares
2010 Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance	23,390,511
Shares available for issuance	16,168,517
Directors' Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance	4,333,939
Shares available for issuance	2,270,504

Stock Benefit Plans - Schedule

Stock Benefit Plans - Schedule of Weighted Average Assumptions (Detail) - Stock options [Member] - $ / shares	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	4 years 6 months	4 years 3 months 18 days
Expected volatility	57.00%	55.00%
Expected dividend yield	0.00%	0.00%
Risk-free interest rate	1.50%	2.80%
Grant date fair value	$ 5.11	$ 6.56

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended
	Sep. 30, 2019Segment
Segment Reporting [Abstract]
Number of reportable segments	1

Segment Information - Net Reven

Segment Information - Net Revenue and Long-Lived Assets by Geographic Area (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2019
Net revenue:
Total net revenue	$ 126,614	$ 112,869
Property and equipment, net:
Total property and equipment, net	5,400		$ 5,410
Other intangible assets, net:
Total other intangible assets, net	33,178		35,118
United States [Member]
Net revenue:
Total net revenue	124,186	110,788
Property and equipment, net:
Total property and equipment, net	5,159		5,149
Other intangible assets, net:
Total other intangible assets, net	33,122		35,044
International [Member]
Net revenue:
Total net revenue	2,428	$ 2,081
Property and equipment, net:
Total property and equipment, net	241		261
Other intangible assets, net:
Total other intangible assets, net	$ 56		$ 74