Intapp (INTA) 10-Q 8 Feb 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Dec. 31, 2023	Jan. 31, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Registrant Name	Intapp, Inc.
Entity Central Index Key	0001565687
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		72,260,288
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	INTA
Security Exchange Name	NASDAQ
Entity File Number	001-40550
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-1467620
Entity Address, Address Line One	3101 Park Blvd
Entity Address, City or Town	Palo Alto
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94306
City Area Code	650
Local Phone Number	852-0400
Document Quarterly Report	true
Document Transition Report	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 166,357	$ 130,377
Restricted cash	200	808
Accounts receivable, net of allowance of $1,528 and $994 as of December 31, 2023 and June 30, 2023, respectively	78,969	92,973
Unbilled receivables, net	16,435	10,661
Other receivables, net	1,524	878
Prepaid expenses	8,028	7,335
Deferred commissions, current	12,585	11,807
Total current assets	284,098	254,839
Property and equipment, net	17,311	16,366
Operating lease right-of-use assets	15,378	17,180
Goodwill	278,955	278,890
Intangible assets, net	37,938	43,257
Deferred commissions, noncurrent	16,819	16,529
Other assets	3,029	1,846
Total assets	653,528	628,907
Current liabilities:
Accounts payable	10,559	6,018
Accrued compensation	31,622	39,761
Accrued expenses	12,546	11,626
Deferred revenue, net	195,513	191,042
Other current liabilities	8,903	10,902
Total current liabilities	259,143	259,349
Deferred tax liabilities	1,205	1,422
Deferred revenue, noncurrent	1,721	1,355
Operating lease liabilities, noncurrent	14,663	16,195
Other liabilities	5,139	9,378
Total liabilities	281,871	287,699
Commitments and contingencies (Note 8)
Stockholders' equity:
Preferred stock, $0.001 par value per share, 50,000 shares authorized; no shares issued or outstanding
Common stock, $0.001 par value per share, 700,000 shares authorized; 71,941 and 68,574 shares issued and outstanding as of December 31, 2023 and June 30, 2023, respectively	72	69
Additional paid-in capital	852,558	797,639
Accumulated other comprehensive loss	(1,278)	(1,339)
Accumulated deficit	(479,695)	(455,161)
Total stockholders' equity	371,657	341,208
Total liabilities and stockholders' equity	$ 653,528	$ 628,907

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Allowance for doubtful accounts	$ 1,528	$ 994
Preferred stock, par value per share	$ 0.001	$ 0.001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value per share	$ 0.001	$ 0.001
Common stock, shares authorized	700,000,000	700,000,000
Common stock, shares issued	71,941,000	68,574,000
Common stock, shares outstanding	71,941,000	68,574,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Revenues
Total revenues	$ 103,933	$ 84,692	$ 205,508	$ 164,230
Cost of revenues
Total cost of revenues	30,769	26,785	62,342	52,119
Gross profit	73,164	57,907	143,166	112,111
Operating expenses:
Research and development	27,981	23,392	56,477	43,071
Sales and marketing	35,269	33,538	69,688	64,850
General and administrative	20,996	20,753	42,048	41,163
Lease modification and impairment	0	(348)	0	1,601
Total operating expenses	84,246	77,335	168,213	150,685
Operating loss	(11,082)	(19,428)	(25,047)	(38,574)
Interest and other income (expense), net	2,057	140	1,114	(583)
Net loss before income taxes	(9,025)	(19,288)	(23,933)	(39,157)
Income tax expense	(188)	(466)	(601)	(651)
Net loss	$ (9,213)	$ (19,754)	$ (24,534)	$ (39,808)
Net loss per share attributable to common stockholders, basic	$ (0.13)	$ (0.31)	$ (0.35)	$ (0.63)
Net loss per share attributable to common stockholders, diluted	$ (0.13)	$ (0.31)	$ (0.35)	$ (0.63)
Weighted-average shares used to compute net loss per share, basic	70,521	63,287	69,729	63,076
Weighted-average shares used to compute net loss per share , diluted	70,521	63,287	69,729	63,076
Recurring Revenue
Revenues
Total revenues	$ 91,252	$ 72,584	$ 178,216	$ 141,645
Cost of revenues
Total cost of revenues	14,416	12,456	28,829	24,854
SaaS and Support
Revenues
Total revenues	77,109	61,605	150,170	118,418
Cost of revenues
Total cost of revenues	14,416	12,456	28,829	24,854
Subscription License
Revenues
Total revenues	14,143	10,979	28,046	23,227
Professional Services
Revenues
Total revenues	12,681	12,108	27,292	22,585
Cost of revenues
Total cost of revenues	$ 16,353	$ 14,329	$ 33,513	$ 27,265

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (9,213)	$ (19,754)	$ (24,534)	$ (39,808)
Other comprehensive income (loss):
Foreign currency translation adjustments	352	651	61	(27)
Other comprehensive income (loss):	352	651	61	(27)
Comprehensive loss	$ (8,861)	$ (19,103)	$ (24,473)	$ (39,835)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning Balance at Jun. 30, 2022	$ 255,882	$ 63	$ 643,227	$ (1,672)	$ (385,736)
Beginning Balance, shares at Jun. 30, 2022		62,739,000
Issuance of common stock upon exercise of stock options	4,480	$ 1	4,479
Issuance of common stock upon exercise of stock options, shares		423,000
Vesting of performance stock units and restricted stock units, net of shares withheld for taxes	(4,948)		(4,948)
Vesting of performance stock and restricted stock units, net of shares withheld for taxes, shares		423,000
Issuance of common stock under employee stock purchase plan	1,241		1,241
Issuance of common stock under employee stock purchase plan, shares		66,000
Stock-based compensation	36,036		36,036
Foreign currency translation adjustments	(27)			(27)
Net loss	(39,808)				(39,808)
Ending Balance at Dec. 31, 2022	252,856	$ 64	680,035	(1,699)	(425,544)
Ending Balance, shares at Dec. 31, 2022		63,651,000
Beginning Balance at Sep. 30, 2022	250,446	$ 63	658,523	(2,350)	(405,790)
Beginning Balance, shares at Sep. 30, 2022		62,985,000
Issuance of common stock upon exercise of stock options	3,451	$ 1	3,450
Issuance of common stock upon exercise of stock options, shares		312,000
Vesting of performance stock units and restricted stock units, net of shares withheld for taxes	(3,447)		(3,447)
Vesting of performance stock and restricted stock units, net of shares withheld for taxes, shares		288,000
Issuance of common stock under employee stock purchase plan	1,241		1,241
Issuance of common stock under employee stock purchase plan, shares		66,000
Stock-based compensation	20,268		20,268
Foreign currency translation adjustments	651			651
Net loss	(19,754)				(19,754)
Ending Balance at Dec. 31, 2022	252,856	$ 64	680,035	(1,699)	(425,544)
Ending Balance, shares at Dec. 31, 2022		63,651,000
Beginning Balance at Jun. 30, 2023	341,208	$ 69	797,639	(1,339)	(455,161)
Beginning Balance, shares at Jun. 30, 2023		68,574,000
Issuance of common stock upon exercise of stock options	$ 17,936	$ 2	17,934
Issuance of common stock upon exercise of stock options, shares	1,641,000	1,641,000
Vesting of performance stock units and restricted stock units, net of shares withheld for taxes		$ 1	(1)
Vesting of performance stock and restricted stock units, net of shares withheld for taxes, shares		1,645,000
Issuance of common stock under employee stock purchase plan	$ 1,725		1,725
Issuance of common stock under employee stock purchase plan, shares		81,000
Stock-based compensation	35,265		35,265
Issuance of common stock, net of offering costs / issuance costs	(4)		(4)
Foreign currency translation adjustments	61			61
Net loss	(24,534)				(24,534)
Ending Balance at Dec. 31, 2023	371,657	$ 72	852,558	(1,278)	(479,695)
Ending Balance, shares at Dec. 31, 2023		71,941,000
Beginning Balance at Sep. 30, 2023	346,673	$ 69	818,716	(1,630)	(470,482)
Beginning Balance, shares at Sep. 30, 2023		69,378,000
Issuance of common stock upon exercise of stock options	15,612	$ 2	15,610
Issuance of common stock upon exercise of stock options, shares		1,412,000
Vesting of performance stock units and restricted stock units, net of shares withheld for taxes		$ 1	(1)
Vesting of performance stock and restricted stock units, net of shares withheld for taxes, shares		1,070,000
Issuance of common stock under employee stock purchase plan	1,725		1,725
Issuance of common stock under employee stock purchase plan, shares		81,000
Stock-based compensation	16,508		16,508
Foreign currency translation adjustments	352			352
Net loss	(9,213)				(9,213)
Ending Balance at Dec. 31, 2023	$ 371,657	$ 72	$ 852,558	$ (1,278)	$ (479,695)
Ending Balance, shares at Dec. 31, 2023		71,941,000

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) $ in Thousands	6 Months Ended
	Dec. 31, 2023 USD ($)
Follow-On Public Offering
Offering costs / Issuance costs	$ 1,569

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash Flows from Operating Activities:
Net loss	$ (24,534)	$ (39,808)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	7,984	7,737
Amortization of operating lease right-of-use assets	2,282	2,404
Accounts receivable allowances	1,228	676
Stock-based compensation	35,265	36,036
Lease modification and impairment	0	1,601
Change in fair value of contingent consideration	(2,215)	(232)
Deferred income taxes	(217)	(304)
Other	77	77
Changes in operating assets and liabilities:
Accounts receivable	12,570	(1,514)
Unbilled receivables, current	(5,774)	(2,390)
Prepaid expenses and other assets	(1,788)	1,029
Deferred commissions	(1,068)	(1,556)
Accounts payable and accrued liabilities	(1,517)	(8,094)
Deferred revenue, net	4,837	18,773
Operating lease liabilities	(2,339)	(3,123)
Other liabilities	(1,144)	2,035
Net cash provided by operating activities	23,647	13,347
Cash Flows from Investing Activities:
Purchases of property and equipment	(1,354)	(1,698)
Capitalized internal-use software costs	(3,453)	(2,697)
Net cash used in investing activities	(4,807)	(4,395)
Cash Flows from Financing Activities:
Payments for deferred offering costs	(781)	0
Proceeds from stock option exercises	17,936	4,480
Proceeds from employee stock purchase plan	1,725	1,241
Payments related to tax withholding for vested equity awards	0	(4,948)
Payments of deferred contingent consideration and holdback associated with acquisitions	(2,551)	(11,115)
Net cash provided by (used in) financing activities	16,329	(10,342)
Effect of foreign currency exchange rate changes on cash and cash equivalents	203	(351)
Net increase (decrease) in cash, cash equivalents and restricted cash	35,372	(1,741)
Cash, cash equivalents and restricted cash - beginning of period	131,185	54,311
Cash, cash equivalents and restricted cash - end of period	166,557	52,570
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets:
Cash and cash equivalents	166,357	51,563
Restricted cash	200	1,007
Total cash, cash equivalents and restricted cash	166,557	52,570
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	1	2
Cash paid for income taxes, net of tax refunds	352	745
Non-cash investing and financing activities:
Purchases of property and equipment in accounts payable and accrued liabilities	7	308
Changes in capitalized internal-use software costs in accounts payable and accrued liabilities	(378)	0
Changes in deferred offering costs in accounts payable and accrued liabilities	$ (776)	$ 0

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (9,213)	$ (19,754)	$ (24,534)	$ (39,808)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	Rule 10b5-1 Trading Plans Ralph Baxter , a member of the Company’s Board of Directors , entered into a stock trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) (a “ Rule 10b5-1 Plan ”) on November 27, 2023 , which has an end date of February 26, 2025 . Mr. Baxter’s Rule 10b5-1 Plan pr ovides for the potential exercise of stock options and the associated sale of up to 160,000 shares of Intapp common stock. Michele Murgel , the Company’s Chief People and Places Officer , entered into a Rule 10b5-1 Plan on December 13, 2023 . Ms. Murgel’s Rule 10b5-1 Plan provides for the potential exercise of stock options and the associated sale of up to 28,133 shares of Intapp common stock and the potential sale of the net shares that Ms. Murgel will receive from the vesting of outstanding awards of performance stock units granted prior to the adoption of her current Rule 10b5-1 Plan until the plan’s end date on August 15, 2024 . Thad Jampol , the Company’s Co-founder and Chief Product Officer , entered into a Rule 10b5-1 Plan on December 13, 2023 , which has an end date of April 1, 2025 . Mr. Jampol’s Rule 10b5-1 Plan provides for the potential exercise of stock options and the associated sale of up to 440,000 shares of Intapp common stock. Kalyani Tandon , the Company’s Chief Accounting Officer until December 8, 2023, terminated a Rule 10b5-1 Plan on November 13, 2023 . Ms. Tandon’s Rule 10b5-1 Plan , entered into on June 15, 2023 , provided for the potential exercise of stock options and the associated sale of up to 105,000 shares of Intapp common stock and the potential sale of 50% of the net shares that Ms. Tandon would receive from the vesting of outstanding awards of performance stock units granted prior to the adoption of her Rule 10b5-1 Plan until the plan’s end date on August 31, 2024 .
Ralph Baxter
Trading Arrangements, by Individual
Name	Ralph Baxter
Title	member of the Company’s Board of Directors
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 27, 2023
Arrangement Duration	458 days
Aggregate Available	160,000
Trd Arr Expiration Date	February 26, 2025
Michele Murgel
Trading Arrangements, by Individual
Name	Michele Murgel
Title	Chief People and Places Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 13, 2023
Arrangement Duration	247 days
Aggregate Available	28,133
Trd Arr Expiration Date	August 15, 2024
Thad Jampol
Trading Arrangements, by Individual
Name	Thad Jampol
Title	Co-founder and Chief Product Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 13, 2023
Arrangement Duration	476 days
Aggregate Available	440,000
Trd Arr Expiration Date	April 1, 2025
Kalyani Tandon
Trading Arrangements, by Individual
Name	Kalyani Tandon
Title	Chief Accounting Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	June 15, 2023
Rule 10b5-1 Arrangement Terminated	true
Termination Date	November 13, 2023
Arrangement Duration	444 days
Aggregate Available	105,000
Trd Arr Expiration Date	August 31, 2024

Description of Business

Description of Business	6 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Note 1. Description of Business Intapp, Inc. (“Intapp” or the “Company”) is a holding company and conducts its operations through its wholly-owned subsidiary, Integration Appliance, Inc. The Company is a leading provider of industry-specific, cloud-based software solutions for the global professional and financial services industry. The Company empowers the world’s premier private capital, investment banking, legal, accounting, and consulting firms with the technology they need to operate more competitively, deliver timely insights to their professionals, and meet rapidly changing client, investor, and regulatory requirements. The Company serves clients primarily in the United States and the United Kingdom. References to “the Company,” “us,” “we,” or “our” in these unaudited condensed consolidated financial statements refer to the consolidated operations of Intapp and its consolidated subsidiaries.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Accounting Policies	Note 2. Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and the requirements of the U.S. Securities and Exchange Commission (the “SEC”) for interim reporting. Certain information and disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2023 filed with the SEC on September 7, 2023. The unaudited condensed consolidated financial statements include accounts of the Company and its consolidated subsidiaries, after eliminating all inter-company transactions and balances. The interim unaudited condensed consolidated financial statements have been prepared on a basis consistent with the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal and recurring adjustments, necessary to state fairly the Company’s financial condition, its operations and cash flows for the periods presented. The historical results are not necessarily indicative of future results, and the results of operations for the three and six months ended December 31, 2023 are not necessarily indicative of the results to be expected for the full year or any other period. Use of Estimates The preparation of the accompanying unaudited condensed consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported and disclosed in the unaudited condensed consolidated financial statements and accompanying notes. Those estimates and assumptions include, but are not limited to, revenue recognition including determination of the standalone selling price (“SSP”) of the deliverables included in multiple deliverable revenue arrangements; allowance for credit losses; the depreciable lives of long-lived assets including intangible assets; the expected useful life of deferred commissions; the fair value of stock-based awards; the fair value of assets acquired and liabilities assumed in business combinations; goodwill and long-lived assets impairment assessment; the fair value of contingent consideration liabilities; the incremental borrowing rate used to determine the operating lease liabilities; valuation allowances on deferred tax assets; uncertain tax positions; and loss contingencies. The Company evaluates estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ from these estimates, and those differences could be material to the unaudited condensed consolidated financial statements. Significant Accounting Policies The Company’s significant accounting policies are described in Note 2, Summary of Significant Accounting Policies , to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2023. Our revenue recognition policy is included below due to its significance to our financial statements. Except for the accounting policies for cash equivalents and allowance for expected credit losses described below, there have been no material changes to the significant accounting policies during the three and six months ended December 31, 2023. Revenue Recognition The Company’s revenues are derived from contracts with our clients. The majority of the Company’s revenues are derived from the sale of our software as a service (“SaaS”) solutions and subscriptions to our term software applications, including support services, as well as the provision of professional services for the implementation of our solutions. The Company accounts for revenues in accordance with Accounting Standards Codification 606, Revenue from Contracts with Customers (“ASC 606”). The core principle of ASC 606 is to recognize revenues upon the transfer of control of services or products to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services or products. The Company applies the following framework to recognize revenues: Identification of the contract, or contracts, with our clients The Company considers the terms and conditions of written contracts and its customary business practices in identifying its contracts under ASC 606. The Company determines it has a contract with a client when the contract is approved, each party’s rights regarding the services and products to be transferred can be identified, payment terms for the services and products can be identified, the client has the ability and intent to pay, and the contract has commercial substance. The Company evaluates whether two or more contracts entered within close proximity with one another should be combined and accounted for as a single contract. The Company also evaluates the client’s ability and intent to pay, which is based on a variety of factors, including the client’s historical payment experience or, in the case of a new client, credit and financial information pertaining to the client. Identification of the performance obligations in the contract Performance obligations promised in a contract are identified based on the services or products that will be transferred to the client that are both: i. capable of being distinct, whereby the client can benefit from the service or product either on its own or together with other resources that are readily available from the Company or third parties, and ii. distinct in the context of the contract, whereby the transfer of the services or products is separately identifiable from other promises in the contract. To the extent a contract includes multiple promised services or products, the Company applies judgment to determine whether promised services or products are capable of being distinct and distinct in the context of the contract. If these criteria are not met, the promised services or products are accounted for as a combined performance obligation. The Company derives its revenues primarily from the following four sources, which represent the performance obligations of the Company: i. Sales of SaaS under subscription arrangements : revenue derived from subscriptions to our SaaS solutions; ii. Sales of subscriptions to our licenses: software revenues derived from the sale of term licenses to clients; iii. Support activities: support activities that consist of email and phone support, bug fixes, and rights to unspecified software updates and upgrades released on a when, and if, available basis during the support term; and iv. Sales of professional services: services related to the implementation and configuration of the Company’s SaaS offerings and software licenses. SaaS and subscription licenses are generally sold as annual or multi-year initial terms with automatic annual renewal provisions on expiration of the initial term. Support for subscription licenses follows the same contract periods as the initial or renewal term. Professional services related to implementation and configuration activities are typically time and materials contracts. Determination of the transaction price The transaction price is determined based on the consideration to which the Company expects to be entitled in exchange for transferring services and products to the client. Variable consideration is estimated and included in the transaction price if, in the Company’s judgment, it is probable that no significant future reversal of cumulative revenues under the contract will occur. In instances where the timing of revenue recognition differs from the timing of invoicing, the Company has determined that contracts generally do not include a significant financing component. The primary purpose of the Company’s invoicing terms is to provide clients with simplified and predictable ways of purchasing the Company’s products and services, not to receive financing from clients or to provide clients with financing. Allocation of the transaction price to the performance obligations in the contract If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on its relative SSP. The majority of the Company’s contracts contain multiple performance obligations, such as when subscription licenses are sold with support and professional services. Some of the Company’s performance obligations have observable inputs that are used to determine the SSP of those distinct performance obligations. Where SSP is not directly observable, the Company determines the SSP using information that may include market conditions and other observable inputs. Recognition of revenues when, or as, the Company satisfies a performance obligation The Company recognizes revenues as control of the services or products is transferred to a client, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services or products. The Company is principally responsible for the satisfaction of its distinct performance obligations, which are satisfied either at a point in time or over a period of time. The Company records revenues net of applicable sales taxes collected. Sales taxes collected from clients are recorded in other current liabilities in the accompanying unaudited condensed consolidated balance sheets and are remitted to state and local taxing jurisdictions based on the filing requirements of each jurisdiction. Performance obligations satisfied at a point in time Subscription licenses The Company has concluded that its sale of term licenses to clients (“subscription licenses”) provides the client with the right to functional intellectual property (“IP”) and are distinct performance obligations from which the client can benefit on a stand-alone basis. The transaction price allocated to subscription license arrangements is recognized as revenues at a point in time when control is transferred to the client, which generally occurs at the time of delivery or upon commencement of the renewal term. Subscription license fees are generally payable in advance on an annual basis over the term of the license arrangement, which is typically noncancelable. Performance obligations satisfied over a period of time SaaS and support as well as professional services arrangements comprise the majority of distinct performance obligations that are satisfied over a period of time. SaaS and support The transaction price allocated to SaaS subscription arrangements is recognized as revenues over time throughout the term of the contract as the services are provided on a continuous basis, beginning after the SaaS environment is provisioned and made available to clients. The Company’s SaaS subscriptions are generally one to three years in duration, with the majority being one year . Consideration from SaaS arrangements is typically billed in advance on an annual basis. The Company’s subscription license sales include noncancelable support which entitle clients to receive technical support and software updates, on a when and if available basis, during the term of the subscription license agreement. Technical support and software updates are considered distinct from the related subscription licenses but accounted for as a single stand ready performance obligation as they each constitute a series of distinct services that are substantially the same and have the same pattern of transfer to the client. The transaction price allocated to support is recognized as revenue over time on a straight-line basis over the term of the support contract which corresponds to the underlying subscription license agreement. Consideration for support services is typically billed in advance on an annual basis. In some instances, the client may purchase premium support services which are generally priced as a percentage of the associated subscription license. Professional services The Company’s professional services revenues are primarily comprised of implementation, configuration and upgrade services. The Company has determined that professional services provided to clients represent distinct performance obligations. These services may be provided on a stand-alone basis or bundled with other performance obligations, including SaaS arrangements, subscription licenses, and support services. The transaction price allocated to these performance obligations is recognized as revenue over time as the services are performed. The professional services engagements are billed to clients on a time and materials basis and are recognized as invoiced. In instances where professional services arrangements are sold on a fixed price basis, revenues are recognized over time using an input measure of time incurred to date relative to total estimated time to be incurred at project completion. Professional services arrangements sold on a time and materials basis are generally invoiced monthly in arrears and those sold on a fixed fee basis are invoiced upon the achievement of project milestones. The Company records reimbursable out-of-pocket expenses associated with professional services contracts in both revenues and cost of revenues. Contract Modifications Contracts may be modified to account for changes in contract scope or price. The Company considers contract modifications to exist when the modification either creates new rights or obligations or changes the existing enforceable rights and obligations of either party. Contract modifications are accounted for prospectively when it results in the promise to deliver additional products and services that are distinct and contract price does not increase by an amount that reflects standalone selling price for the new goods or services. Balance Sheet Presentation Contracts with our clients are reflected in the unaudited condensed consolidated balance sheets as follows: • Accounts receivable, net represents amounts billed to clients in accordance with contract terms for which payment has not yet been received. It is presented net of allowance as part of current assets in the unaudited condensed consolidated balance sheets. • Unbilled receivables, net represents amounts that are unbilled due to agreed-upon contractual terms in which billing occurs subsequent to revenue recognition. This generally occurs in multi-year subscription license arrangements where control of the software license is transferred at the inception of the contract, but the client is invoiced annually in advance over the term of the license. Unbilled receivables may also arise on professional services arrangements sold on a fixed fee basis and on which revenue is recognized in proportion to the hours worked on the project, relative to the total expected hours. In some instances, revenue may be recognized in advance of the amounts which are invoiced on the achievement of contractual milestones. Unbilled receivables are presented net of allowance, if applicable, in the unaudited condensed consolidated balance sheets with the long-term portion included in other assets. Under ASC 606, these balances represent contract assets. • Contract costs consist principally of client acquisition costs (sales commissions). The Company classifies deferred commissions as current or non-current on our unaudited condensed consolidated balance sheets based on the timing of when the Company expects to recognize the expense. • Deferred revenue, net represents amounts that have been invoiced to the client for which the Company has the right to invoice, but that have not been recognized as revenues because the related products or services have not been transferred to the client. Deferred revenue that will be realized within twelve months of the balance sheet date is classified as current. The remaining deferred revenue is presented as non-current. Under ASC 606, these balances represent contract liabilities. The Company may receive consideration from its clients in advance of performance on a portion of the contract and, on another portion of the contract, perform in advance of receiving consideration. Contract assets and liabilities related to rights and obligations in a contract are interdependent. Therefore, contract assets and liabilities are presented net at the contract level, as either a single contract asset or a single contract liability, in the unaudited condensed consolidated balance sheets. Cash and Cash Equivalents All highly-liquid investments with a remaining maturity of three months or less at the time of purchase are considered to be cash equivalents. Cash equivalents consist primarily of investments in institutional money market funds. The fair value of money market funds held was $ 76.7 million as of December 31, 2023 . There were no cash equivalents as of June 30, 2023 . Accounts Receivable and Allowance for Expected Credit Losses Accounts receivable are recorded at invoiced amounts, net of allowance for expected credit losses. The Company evaluates the collectability of its accounts receivable based on known collection risks, historical experience and forecasts of future collectability, and maintains an allowance for expected credit losses for estimated losses resulting from its clients failing to make required payments for subscriptions or services rendered. Sufficiency of the allowance is assessed based upon knowledge of credit-worthiness of our clients, review of historical receivable and reserves trends and other pertinent information. Actual future losses from uncollectible accounts may differ from these estimates. Concentrations of Credit Risk and Significant Clients Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents and accounts receivable. The Company maintains its cash and cash equivalents with multiple high credit quality financial institutions. The Company is exposed to credit risk for cash held in financial institutions to the extent that such amounts recorded on the balance sheet are in excess of amounts that are insured by the Federal Deposit Insurance Corporation (“FDIC”). The Company has not experienced any such losses. No client individually accounted for 10% or more of the Company’s revenues for either of the three and six months ended December 31, 2023 and 2022. As of December 31, 2023 , no client individually accounted for 10% or more of the Company’s total accounts receivable. As of June 30, 2023 , one client individually accounted for 15 % of the Company’s total accounts receivable. Recent Accounting Pronouncements The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it is (i) no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, the unaudited condensed consolidated financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates. The JOBS Act does not preclude an emerging growth company from early adopting new or revised accounting standards. On December 31, 2023, the last day of the second fiscal quarter in 2024, the market value of common stock held by non-affiliates exceeded $ 700 million. Accordingly, the Company will be deemed a large accelerated filer as of June 30, 2024. As such, the Company will no longer (i) qualify as an emerging growth company, (ii) be able to take advantage of the extended timeline to comply with new or revised accounting standards applicable to public companies beginning with the Annual Report on Form 10-K for the year ending June 30, 2024 and (iii) be exempt from providing an auditor's attestation report on internal control over financial reporting pursuant to Section 404(b) of the Sarbanes-Oxley Act. Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments – Credit Losses , which requires the establishment of an allowance for estimated credit losses on financial assets, including trade and other receivables, at each reporting date. The Company adopted this guidance on July 1, 2023 on a modified retrospective basis. The adoption did no t have a material impact on its unaudited condensed consolidated financial statements. Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (ASC 280): Improvements to Reportable Segment Disclosures , which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. This guidance will be effective for the Company’s fiscal year beginning July 1, 2024, and should be applied on a retrospective basis to all periods presented. The Company is currently evaluating the impact of the adoption on its disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (ASC 740): Improvements to Income Tax Disclosures , which requires additional income tax disclosures to better assess how an entity’s operations, related tax risks, tax planning and operational opportunities affect its tax rate and prospects of future cash flows. This guidance will be effective for the Company’s fiscal year beginning July 1, 2025, and should be applied on a prospective or retrospective basis. The company expects the adoption to result in additional disclosures only.

Revenues

Revenues	6 Months Ended
	Dec. 31, 2023
Revenue Recognition [Abstract]
Revenues	Note 3. Revenues Disaggregation of Revenues Revenues by geography were as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 United States $ 73,163 $ 57,887 $ 143,018 $ 113,539 United Kingdom 13,829 13,511 28,555 26,523 Rest of the world 16,941 13,294 33,935 24,168 Total $ 103,933 $ 84,692 $ 205,508 $ 164,230 No country other than those listed above accounted for 10% or more of the Company’s total revenues during the three and six months ended December 31, 2023 and 2022. Contract balances The Company’s contract assets and liabilities were as follows (in thousands): December 31, 2023 June 30, 2023 Unbilled accounts receivable, net (1) $ 16,435 $ 10,765 Deferred revenue, net 197,234 192,397 (1) The long-term portion of $ 104 as of June 30, 2023 is included in other assets on the unaudited condensed consolidated balance sheets. There was no allowance for credit losses associated with unbilled receivables as of December 31, 2023 and June 30, 2023. During the six months ended December 31, 2023 , the Company recognized $ 125.1 million in revenue pertaining to deferred revenue as of June 30, 2023. Remaining Performance Obligations Remaining performance obligations represent non-cancellable contracted revenues that have not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as revenues in future periods. SaaS subscription is typically satisfied over one to three years, subscription license is typically satisfied at a point in time, support services are generally satisfied within one year, and professional services are typically satisfied within one year. Professional services contracts are not included in the performance obligations amount as these arrangements can be cancelled at any time. As of December 31, 2023 , approximately $ 447.6 million of revenues is expected to be recognized from remaining performance obligations with approximately 58 % over the next 12 months and the remainder thereafter.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 4. Goodwill and Intangible Assets Goodwill Changes in the carrying amounts of goodwill were as follows (in thousands): Six Months Ended December 31, 2023 2022 Balance, beginning of period $ 278,890 $ 269,103 Purchase price adjustment — 784 Foreign currency translation adjustment 65 ( 22 ) Balance, end of period $ 278,955 $ 269,865 During the six months ended December 31, 2022 , the Company recognized a purchase price adjustment of $ 0.8 million related to the Billstream acquisition that occurred in June 2022, which increased goodwill and deferred consideration. Intangible Assets Intangible assets acquired through business combinations consisted of the following (in thousands): December 31, 2023 Useful Life Gross Carrying Amount Accumulated Net Carrying Amount Client relationships 9 to 15 $ 48,900 $ ( 26,682 ) $ 22,218 Non-compete agreements 3 to 5 4,907 ( 3,709 ) 1,198 Trademarks and trade names Indefinite 4,683 — 4,683 Trademarks and trade names 5 to 10 7,822 ( 5,563 ) 2,259 Core technology 4 to 6 52,519 ( 45,385 ) 7,134 Backlog 2 1,000 ( 554 ) 446 Intangible assets, net $ 119,831 $ ( 81,893 ) $ 37,938 June 30, 2023 Useful Life Gross Carrying Amount Accumulated Net Carrying Amount Client relationships 9 to 15 $ 48,900 $ ( 24,341 ) $ 24,559 Non-compete agreements 3 to 5 4,907 ( 3,383 ) 1,524 Trademarks and trade names Indefinite 4,683 — 4,683 Trademarks and trade names 5 to 10 7,822 ( 5,270 ) 2,552 Core technology 4 to 6 52,519 ( 43,275 ) 9,244 Backlog 2 1,000 ( 305 ) 695 Intangible assets, net $ 119,831 $ ( 76,574 ) $ 43,257 Amortization expense related to acquired intangible assets was recognized as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Cost of SaaS and support $ 1,055 $ 917 $ 2,110 $ 2,413 Sales and marketing 1,396 1,467 2,883 2,931 General and administrative 163 122 326 243 Total amortization expense $ 2,614 $ 2,506 $ 5,319 $ 5,587 As of December 31, 2023, the estimated future amortization expense for acquired intangible assets is as follows (in thousands): Fiscal Year Ending June 30, Amount 2024 (remaining 6 months) $ 4,890 2025 7,506 2026 5,090 2027 4,925 2028 4,428 2029 and thereafter 6,416 Total remaining amortization $ 33,255

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 5. Fair Value Measurements The authoritative guidance on fair value measurements establishes a three-tier fair value hierarchy for disclosure of fair value measurements as follows: Level 1 —Inputs are unadjusted, quoted prices in active markets for identical, assets or liabilities at the measurement date; Level 2 —Inputs are quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; Level 3 —Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). Money market funds are classified as Level 1 as the assets are valued using quoted prices in active markets. Liabilities for contingent consideration related to business combinations are classified as Level 3 liabilities as the Company uses unobservable inputs in the valuation, specifically related to the projected total contract value generated by the acquired businesses for a distinct period of time. The following table sets forth the Company’s financial assets that were measured at fair value on a recurring basis as of the date indicated by level within the fair value hierarchy (in thousands): December 31, 2023 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents: Money market funds $ 76,665 $ — $ — $ 76,665 Total financial assets $ 76,665 $ — $ — $ 76,665 The following tables set forth the Company’s financial liabilities that were measured at fair value on a recurring basis as of the dates indicated by level within the fair value hierarchy (in thousands): December 31, 2023 Level 1 Level 2 Level 3 Total Liabilities: Liability for contingent consideration, current portion $ — $ — $ 1,550 $ 1,550 Liability for contingent consideration, non-current portion — — 1,931 1,931 Total financial liabilities $ — $ — $ 3,481 $ 3,481 June 30, 2023 Level 1 Level 2 Level 3 Total Liabilities: Liability for contingent consideration, current portion $ — $ — $ 2,364 $ 2,364 Liability for contingent consideration, non-current portion — — 4,317 4,317 Total financial liabilities $ — $ — $ 6,681 $ 6,681 In connection with the acquisition of Paragon Data Labs, Inc. in May 2023, the Company recorded a contingent consideration liability of $ 4.3 million on the acquisition date for the estimated fair value of the contingent consideration. The fair value was measured based on the probability of achieving certain performance measures pursuant to the acquisition agreement. The liability was included in other liabilities on the audited consolidated balance sheet as of June 30, 2023. As of December 31, 2023 , the fair value of the contingent consideration was re-measured at $ 3.5 million. In connection with the acquisition of the Billstream business from Billstream LLC in June 2022, the Company recorded a contingent consideration liability of $ 4.1 million on the acquisition date for the estimated fair value of the contingent consideration. The fair value was measured based on the probability of achieving certain performance measures pursuant to the acquisition agreement. The fair value of the contingent consideration was remeasured at $ 2.4 million and was included in other current liabilities on the audited consolidated balance sheet as of June 30, 2023. During the three and six months ended December 31, 2023 , the Company paid $ 1.0 million in full consideration for the remaining contingent consideration. The fair value of the contingent consideration was initially estimated on the acquisition date using the Monte Carlo simulation and included key assumptions used by management related to the estimated probability of occurrence and discount rates. Subsequent changes in the fair value of the contingent consideration liabilities, resulting from management’s revision of key assumptions and estimates, have been recorded in general and administrative expenses in the unaudited condensed consolidated statements of operations. Gains and losses arising from exchange rate fluctuation on these liabilities not denominated in U.S. dollars have been included in interest and other income (expense), net on the unaudited condensed consolidated statements of operations. Changes in the fair value of contingent consideration liabilities during the six months ended December 31, 2023 and 2022 were as follows (in thousands): Six Months Ended December 31, 2023 2022 Balance, beginning of period $ 6,681 $ 13,835 Payment of contingent consideration ( 985 ) ( 9,299 ) Change in fair value of contingent consideration ( 2,215 ) ( 232 ) Effect of foreign currency exchange rate changes — ( 410 ) Balance, end of period $ 3,481 $ 3,894 Other financial instruments consist of accounts receivable, accounts payable, accrued expenses, accrued liabilities and other current liabilities, which are stated at their carrying value as it approximates fair value due to the short time to expected receipt or payment.

Property and Equipment

Property and Equipment	6 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 6. Property and Equipment Property and equipment, net, consisted of the following (in thousands): December 31, 2023 June 30, 2023 Computer equipment and software $ 2,698 $ 2,290 Capitalized internal-use software 20,053 16,978 Furniture and office equipment 2,390 2,433 Leasehold improvements 5,840 5,897 Construction in progress 491 386 Total property and equipment 31,472 27,984 Less: accumulated depreciation and amortization ( 14,161 ) ( 11,618 ) Property and equipment, net $ 17,311 $ 16,366 Depreciation expense, excluding the amortization of capitalized internal-use software costs, was $ 0.5 million and $ 0.4 million for the three months ended December 31, 2023 and 2022 , respectively, and was $ 0.9 million and $ 0.8 million for the six months ended December 31, 2023 and 2022, respectively. The Company capitalized $ 3.1 million and $ 2.7 million of costs related to software developed for internal use during the six months ended December 31, 2023 and 2022 , respectively. Amortization expense related to capitalized internal-use software was $ 0.9 million and $ 0.7 million for the three months ended December 31, 2023 and 2022 , respectively, and was $ 1.7 million and $ 1.3 million for the six months ended December 31, 2023 and 2022 , respectively. The net book value of capitalized internal-use software was $ 11.7 million and $ 10.3 million as of December 31, 2023 and June 30, 2023 , respectively.

Leases

Leases	6 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	Note 7. Leases The Company leases the majority of its office space in the U.S., U.K., Singapore and Ukraine under non-cancelable operating lease agreements, which have various expiration dates through June 2030 , some of which include options to extend the leases for up to 5 years . As part of the Company's continuing assessment of its facilities requirements, during the first half of fiscal year 2023, the Company exited a portion of the leased office space in its headquarters in Palo Alto, California and amended the underlying lease agreement to relieve the Company of certain lease payments. As a result, the Company assessed the right-of-use (“ROU”) asset associated with the leased office space and deemed it to be impaired. The Company also assessed the lease liability in view of the amended lease agreement. The Company recorded a net charge of $ 1.6 million in connection with the impairment of the related ROU asset and the reassessment of the lease liability, which was included in its unaudited condensed consolidated statements of operations during the six months ended December 31, 2022. The components of lease costs were as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, Operating Leases: 2023 2022 2023 2022 Operating lease cost (1) $ 1,486 $ 1,508 $ 2,986 $ 3,190 Short-term lease cost 406 188 677 398 (1) Amount excluded a benefit on lease modification of $ 0.3 million and a net charge of $ 1.6 million related to lease modification and impairment for the three and six months ended December 31, 2022, respectively, as described above. The weighted-average remaining lease term of the Company's operating leases and the weighted-average discount rate used to measure the present value of the operating lease liabilities are as follows: Lease Term and Discount Rate: December 31, 2023 December 31, 2022 Weighted-average remaining lease term (in years) 5.8 6.5 Weighted-average discount rate 7.1 % 7.1 % The following table presents supplemental cash flow information related to the Company's operating leases (in thousands): Six Months Ended December 31, 2023 2022 Cash payments included in the measurement of operating lease liabilities $ 3,102 $ 3,852 ROU assets obtained in exchange for new operating lease liabilities 501 713 Current operating lease liabilities of $ 4.4 million and $ 4.7 million were included in other current liabilities on the Company’s unaudited condensed consolidated balance sheets as of December 31, 2023 and June 30, 2023, respectively. As of December 31, 2023, remaining maturities of operating lease liabilities are as follows (in thousands): Fiscal Year Ending June 30, Amount 2024 (remaining 6 months) $ 3,208 2025 4,031 2026 3,431 2027 2,873 2028 3,166 2029 and thereafter 6,486 Total lease payments 23,195 Less: imputed interest ( 4,164 ) Present value of operating lease liabilities $ 19,031 In February 2024, the Company entered into a lease agreement to lease an office space in New York City for a six-year term ending in February 2030 . The total undiscounted base rent under this lease is approximately $ 7.3 million, and the Company will be responsible for the payment of additional rent for its proportionate share of certain operating expenses.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8. Commitments and Contingencies Other Purchase Commitments The Company’s other purchase commitments primarily consist of third-party cloud services, support fees and software subscriptions to support operations in the ordinary course of business. There were no material purchase commitments that were entered into during the six months ended December 31, 2023. In December 2021, the Company entered into an agreement with Microsoft, pursuant to which the Company is committed to spend a minimum of $ 110.0 million on cloud services. The committed spend period concludes at the end of December 2028 , with the Company having the option to extend any remaining commitment into a further 12 -month period to the end of December 2029 . As of December 31, 2023, the Company had $ 101.0 million remaining on this commitment. Litigation From time to time, the Company is a party to claims, lawsuits, and proceedings which arise in the ordinary course of business. The Company warrants to its clients that it has all necessary rights and licenses to the intellectual property comprised in its products and services and indemnifies those clients against intellectual property claims with respect to such products and services, so such claims, lawsuits and proceedings might in the future include claims of alleged infringement of intellectual property rights. The Company records a liability when it believes that it is probable that a loss will be incurred, and the amount of loss or range of loss can be reasonably estimated. Given the unpredictable nature of legal proceedings, the Company bases its estimate on the information available at the time of the assessment. As additional information becomes available, the Company reassesses the potential liability and may revise the estimate. The Company is not presently a party to any litigation the outcome of which, it believes, if determined adversely to the Company, would individually or in the aggregate have a material adverse effect on the business, operating results, or financial condition.

Debt

Debt	6 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Debt	Note 9. Debt On October 5, 2021, the Company entered into a Credit Agreement, as amended on June 6, 2022 and further amended on November 17, 2022 (the “Credit Agreement”) among the Company, the guarantors party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent (“JPMorgan”). The Credit Agreement provides for a five-year , senior secured revolving credit facility of $ 100.0 million with a sub-facility for letters of credit in the aggregate amount of up to $ 10.0 million (the “JPMorgan Credit Facility”). The Credit Agreement also provides that the Company may seek additional revolving credit commitments in an aggregate amount not to exceed $ 50.0 million, subject to certain administrative procedures, including approval by the Administrative Agent. Future borrowings under the JPMorgan Credit Facility will bear interest, at the Company’s election, at an annual rate based on either (a) an adjusted secured overnight financing rate (SOFR, as described in the Credit Agreement) plus a percentage spread (ranging from 1.75 % to 2.50 %) or (b) an alternate base rate (as described in the Credit Agreement) plus a percentage spread (ranging from 0.75 % to 1.50 %), in each case based on the Company’s total net leverage ratio. In addition, a commitment fee accrues with respect to the unused amount of the JPMorgan Credit Facility at an annual rate ranging from 0.25 % to 0.40 %, based on the Company’s total net leverage ratio. In connection with the execution of the Credit Agreement, the Company also entered into a pledge and security agreement (the “Security Agreement”) dated as of October 5, 2021 among the Company, the subsidiary grantors thereto and JPMorgan, as administrative agent for the secured parties. Under the Security Agreement, borrowings under the JPMorgan Credit Facility are secured by a first priority pledge of all of the capital stock and substantially all of the assets (excluding real estate interests) of each subsidiary of the Company and the subsidiary guarantors. The Credit Agreement provides that the Company must maintain compliance with a maximum consolidated total net leverage ratio covenant, as determined in accordance with the Credit Agreement. It also contains affirmative, negative and financial covenants, including limitations on certain other indebtedness, loans and investments, liens, mergers, asset sales, and transactions with affiliates, as well as customary events of default. The Company was in compliance with all covenants as of December 31, 2023. As of December 31, 2023 and June 30, 2023 , there were no outstanding borrowings under the JPMorgan Credit Facility.

Stockholders' Equity and Stock-

Stockholders' Equity and Stock-Based Compensation	6 Months Ended
	Dec. 31, 2023
Stockholders Equity And Stock Based Compensation [Abstract]
Stockholders' Equity and Stock-Based Compensation	Note 10 . S tockholders' Equity and Stock-Based Compensation Equity Incentive Plans In June 2021, the Company’s Board of Directors adopted, and its stockholders approved, the 2021 Omnibus Incentive Plan (the “2021 Plan”) and the 2021 Employee Stock Purchase Plan (“ESPP”). The 2021 Plan provides for the grant of restricted shares, restricted share units (“RSUs”), performance shares, performance share units (“PSUs”), deferred share units, share options and share appreciation rights. All employees, non-employee directors and selected third-party service providers of the Company and its subsidiaries and affiliates are eligible to receive grants under the 2021 Plan. Eligible employees may purchase the Company’s common stock under the ESPP. Both the 2021 Plan and ESPP include a provision to increase the share reserves on July 1 of each year through 2031. On July 1, 2023, 4,226,691 and 845,338 shares were added to the 2021 Plan and ESPP, respectively. As of December 31, 2023, shares of common stock reserved for future issuance were as follows (in thousands): December 31, 2023 Stock plans: Outstanding stock options 8,345 Unvested PSUs and RSUs 6,168 Reserved for ESPP 2,820 Reserved for future stock award grants 5,567 Total shares of common stock reserved for issuance 22,900 Stock Awards The Company has granted time-based and performance-based stock options, RSUs and PSUs, collectively referred to as “Stock Awards.” The Company accounts for stock-based compensation using the fair value method which requires the Company to measure stock-based compensation based on the grant-date fair value of the awards and recognize compensation expense over the requisite service or performance period. Awards that contain only service conditions, are generally earned over four years and expensed on a straight-line basis over that term. Compensation expense for awards that contain performance conditions is calculated using the graded vesting method and the portion of expense recognized in any period may fluctuate depending on changing estimates of the achievement of the performance conditions. Stock Options Stock options granted generally become exercisable ratably over a four-year period following the date of grant and expire ten years from the date of grant. Stock option activity under the Company’s equity incentive plans during the six months ended December 31, 2023 was as follows (in thousands, except per share data): Number of Weighted- Weighted- Aggregate (1) Balance as of June 30, 2023 10,137 $ 10.42 5.5 $ 319,250 Exercised ( 1,641 ) 10.93 Forfeited ( 151 ) 20.78 Balance as of December 31, 2023 8,345 $ 10.13 4.8 $ 232,768 Vested and exercisable as of December 31, 2023 7,919 $ 9.61 4.7 $ 225,017 Vested and expected to vest as of December 31, 2023 8,345 $ 10.13 4.8 $ 232,768 (1) Aggregate intrinsic value for stock options represents the difference between the exercise price and the per share fair value of the Company’s common stock as of the end of the period, multiplied by the number of stock options outstanding. There were no stock options granted during the three and six months ended December 31, 2023. The total intrinsic value of stock options exercised and the proceeds from option exercises during the six months ended December 31, 2023 were $ 43.9 million and $ 17.9 million, respectively. PSUs and RSUs During the three and six months ended December 31, 2023, the Company granted PSUs to certain of its employees with vesting terms based on meeting certain operating performance targets, including annual recurring revenue and profitability targets, and continued service conditions. The Company also granted RSUs to certain employees that vest based on continued service. PSU activity during the six months ended December 31, 2023 was as follows (in thousands, except per share data): Number of Shares Weighted- Balance as of June 30, 2023 3,645 $ 23.43 Granted 1,143 39.14 Vested ( 1,187 ) 24.28 Forfeited ( 173 ) 25.94 Balance as of December 31, 2023 3,428 $ 28.24 RSU activity during the six months ended December 31, 2023 was as follows (in thousands, except per share data): Number of Shares Weighted- Balance as of June 30, 2023 2,154 $ 24.46 Granted 1,228 37.17 Vested ( 458 ) 23.92 Forfeited ( 184 ) 27.97 Balance as of December 31, 2023 2,740 $ 30.01 Stock-Based Compensation Expense The Company recorded stock-based compensation expense in the unaudited condensed consolidated statements of operations as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Cost of revenues Cost of SaaS and support $ 586 $ 546 $ 1,127 $ 831 Cost of professional services 1,432 1,145 2,765 1,893 Research and development 4,468 4,646 9,114 6,780 Sales and marketing 4,888 6,352 10,227 12,105 General and administrative 5,134 7,579 12,032 14,427 Total stock-based compensation $ 16,508 $ 20,268 $ 35,265 $ 36,036 As of December 31, 2023 , there was approximately $ 129.4 million of unrecognized compensation cost related to unvested stock-based awards granted, which is expected to be recognized over the weighted-average period of approximately 2.6 years. 2021 Employee Stock Purchase Plan Under the ESPP, eligible employees may purchase the Company’s common stock at a price equal to 85 % of the lower of the fair market value of the Company’s common stock on the offering date or the applicable purchase date. The ESPP provides an offering period that begins on June 1 and December 1 of each year and each offering period consists of one six-month purchase period. As of December 31, 2023 , total unrecognized compensation cost related to the ESPP was $ 0.6 million, which will be amortized over a weighted-average vesting term of 0.4 years.

Income Taxes

Income Taxes	6 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Note 11. Income Taxes The Company determines its income tax provision for interim periods using an estimate of its annual effective tax rate adjusted for discrete items occurring during the periods presented. The primary difference between its effective tax rate and the federal statutory rate is the full valuation allowance the Company has established on its federal and state net operating losses and credits. Income taxes from international operations were not material for the three and six months ended December 31, 2023 and 2022. The Company files income tax returns in the U.S. federal jurisdiction, various state jurisdictions and various foreign jurisdictions. In the normal course of business, the Company is subject to examination by taxing authorities. The Company is not currently under audit by the Internal Revenue Service or other similar tax authorities. The Company’s tax returns remain open to examination as follows: U.S. federal and states, all tax years; and significant foreign jurisdictions, generally 2019 through 2023.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	Note 12. Net Loss Per Share Basic net loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding for the period. Diluted net loss per share is calculated by giving effect to all potentially dilutive securities outstanding for the period using the treasury stock method. Basic net loss per share is the same as diluted net loss per share because the Company reported net losses for all periods presented. The following table sets forth the computation of basic and diluted net loss per share for the periods presented (in thousands, except per share data): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Numerator: Net loss $ ( 9,213 ) $ ( 19,754 ) $ ( 24,534 ) $ ( 39,808 ) Denominator: Weighted-average shares used to compute net loss per share, basic and diluted 70,521 63,287 69,729 63,076 Net loss per share, basic and diluted $ ( 0.13 ) $ ( 0.31 ) $ ( 0.35 ) $ ( 0.63 ) The Company excluded the following potential shares of common stock from the calculation of diluted net loss per share because their effect would be anti-dilutive (in thousands): As of December 31, 2023 2022 Outstanding stock options to purchase common stock 8,345 12,153 Unvested PSUs and RSUs 6,168 6,655 Shares issuable under ESPP 10 14 Shares issuable related to acquisition 68 — Total 14,591 18,822

Related Party Transactions

Related Party Transactions	6 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Note 13. Related Party Transactions Secondary Offering In November 2023, the Company completed a secondary offering where certain existing stockholders sold 5,000,000 shares of common stock at a price of $ 39.01 per share. The Company did not receive any of the proceeds from the sale of the shares by the existing stockholders. In connection with the offering, the Company incurred costs of $ 0.3 million and $ 0.6 million in the three and six months ended December 31, 2023, respectively.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and the requirements of the U.S. Securities and Exchange Commission (the “SEC”) for interim reporting. Certain information and disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2023 filed with the SEC on September 7, 2023. The unaudited condensed consolidated financial statements include accounts of the Company and its consolidated subsidiaries, after eliminating all inter-company transactions and balances. The interim unaudited condensed consolidated financial statements have been prepared on a basis consistent with the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal and recurring adjustments, necessary to state fairly the Company’s financial condition, its operations and cash flows for the periods presented. The historical results are not necessarily indicative of future results, and the results of operations for the three and six months ended December 31, 2023 are not necessarily indicative of the results to be expected for the full year or any other period.
Use of Estimates	Use of Estimates The preparation of the accompanying unaudited condensed consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported and disclosed in the unaudited condensed consolidated financial statements and accompanying notes. Those estimates and assumptions include, but are not limited to, revenue recognition including determination of the standalone selling price (“SSP”) of the deliverables included in multiple deliverable revenue arrangements; allowance for credit losses; the depreciable lives of long-lived assets including intangible assets; the expected useful life of deferred commissions; the fair value of stock-based awards; the fair value of assets acquired and liabilities assumed in business combinations; goodwill and long-lived assets impairment assessment; the fair value of contingent consideration liabilities; the incremental borrowing rate used to determine the operating lease liabilities; valuation allowances on deferred tax assets; uncertain tax positions; and loss contingencies. The Company evaluates estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ from these estimates, and those differences could be material to the unaudited condensed consolidated financial statements.
Revenue Recognition	Revenue Recognition The Company’s revenues are derived from contracts with our clients. The majority of the Company’s revenues are derived from the sale of our software as a service (“SaaS”) solutions and subscriptions to our term software applications, including support services, as well as the provision of professional services for the implementation of our solutions. The Company accounts for revenues in accordance with Accounting Standards Codification 606, Revenue from Contracts with Customers (“ASC 606”). The core principle of ASC 606 is to recognize revenues upon the transfer of control of services or products to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services or products. The Company applies the following framework to recognize revenues: Identification of the contract, or contracts, with our clients The Company considers the terms and conditions of written contracts and its customary business practices in identifying its contracts under ASC 606. The Company determines it has a contract with a client when the contract is approved, each party’s rights regarding the services and products to be transferred can be identified, payment terms for the services and products can be identified, the client has the ability and intent to pay, and the contract has commercial substance. The Company evaluates whether two or more contracts entered within close proximity with one another should be combined and accounted for as a single contract. The Company also evaluates the client’s ability and intent to pay, which is based on a variety of factors, including the client’s historical payment experience or, in the case of a new client, credit and financial information pertaining to the client. Identification of the performance obligations in the contract Performance obligations promised in a contract are identified based on the services or products that will be transferred to the client that are both: i. capable of being distinct, whereby the client can benefit from the service or product either on its own or together with other resources that are readily available from the Company or third parties, and ii. distinct in the context of the contract, whereby the transfer of the services or products is separately identifiable from other promises in the contract. To the extent a contract includes multiple promised services or products, the Company applies judgment to determine whether promised services or products are capable of being distinct and distinct in the context of the contract. If these criteria are not met, the promised services or products are accounted for as a combined performance obligation. The Company derives its revenues primarily from the following four sources, which represent the performance obligations of the Company: i. Sales of SaaS under subscription arrangements : revenue derived from subscriptions to our SaaS solutions; ii. Sales of subscriptions to our licenses: software revenues derived from the sale of term licenses to clients; iii. Support activities: support activities that consist of email and phone support, bug fixes, and rights to unspecified software updates and upgrades released on a when, and if, available basis during the support term; and iv. Sales of professional services: services related to the implementation and configuration of the Company’s SaaS offerings and software licenses. SaaS and subscription licenses are generally sold as annual or multi-year initial terms with automatic annual renewal provisions on expiration of the initial term. Support for subscription licenses follows the same contract periods as the initial or renewal term. Professional services related to implementation and configuration activities are typically time and materials contracts. Determination of the transaction price The transaction price is determined based on the consideration to which the Company expects to be entitled in exchange for transferring services and products to the client. Variable consideration is estimated and included in the transaction price if, in the Company’s judgment, it is probable that no significant future reversal of cumulative revenues under the contract will occur. In instances where the timing of revenue recognition differs from the timing of invoicing, the Company has determined that contracts generally do not include a significant financing component. The primary purpose of the Company’s invoicing terms is to provide clients with simplified and predictable ways of purchasing the Company’s products and services, not to receive financing from clients or to provide clients with financing. Allocation of the transaction price to the performance obligations in the contract If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on its relative SSP. The majority of the Company’s contracts contain multiple performance obligations, such as when subscription licenses are sold with support and professional services. Some of the Company’s performance obligations have observable inputs that are used to determine the SSP of those distinct performance obligations. Where SSP is not directly observable, the Company determines the SSP using information that may include market conditions and other observable inputs. Recognition of revenues when, or as, the Company satisfies a performance obligation The Company recognizes revenues as control of the services or products is transferred to a client, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services or products. The Company is principally responsible for the satisfaction of its distinct performance obligations, which are satisfied either at a point in time or over a period of time. The Company records revenues net of applicable sales taxes collected. Sales taxes collected from clients are recorded in other current liabilities in the accompanying unaudited condensed consolidated balance sheets and are remitted to state and local taxing jurisdictions based on the filing requirements of each jurisdiction. Performance obligations satisfied at a point in time Subscription licenses The Company has concluded that its sale of term licenses to clients (“subscription licenses”) provides the client with the right to functional intellectual property (“IP”) and are distinct performance obligations from which the client can benefit on a stand-alone basis. The transaction price allocated to subscription license arrangements is recognized as revenues at a point in time when control is transferred to the client, which generally occurs at the time of delivery or upon commencement of the renewal term. Subscription license fees are generally payable in advance on an annual basis over the term of the license arrangement, which is typically noncancelable. Performance obligations satisfied over a period of time SaaS and support as well as professional services arrangements comprise the majority of distinct performance obligations that are satisfied over a period of time. SaaS and support The transaction price allocated to SaaS subscription arrangements is recognized as revenues over time throughout the term of the contract as the services are provided on a continuous basis, beginning after the SaaS environment is provisioned and made available to clients. The Company’s SaaS subscriptions are generally one to three years in duration, with the majority being one year . Consideration from SaaS arrangements is typically billed in advance on an annual basis. The Company’s subscription license sales include noncancelable support which entitle clients to receive technical support and software updates, on a when and if available basis, during the term of the subscription license agreement. Technical support and software updates are considered distinct from the related subscription licenses but accounted for as a single stand ready performance obligation as they each constitute a series of distinct services that are substantially the same and have the same pattern of transfer to the client. The transaction price allocated to support is recognized as revenue over time on a straight-line basis over the term of the support contract which corresponds to the underlying subscription license agreement. Consideration for support services is typically billed in advance on an annual basis. In some instances, the client may purchase premium support services which are generally priced as a percentage of the associated subscription license. Professional services The Company’s professional services revenues are primarily comprised of implementation, configuration and upgrade services. The Company has determined that professional services provided to clients represent distinct performance obligations. These services may be provided on a stand-alone basis or bundled with other performance obligations, including SaaS arrangements, subscription licenses, and support services. The transaction price allocated to these performance obligations is recognized as revenue over time as the services are performed. The professional services engagements are billed to clients on a time and materials basis and are recognized as invoiced. In instances where professional services arrangements are sold on a fixed price basis, revenues are recognized over time using an input measure of time incurred to date relative to total estimated time to be incurred at project completion. Professional services arrangements sold on a time and materials basis are generally invoiced monthly in arrears and those sold on a fixed fee basis are invoiced upon the achievement of project milestones. The Company records reimbursable out-of-pocket expenses associated with professional services contracts in both revenues and cost of revenues.
Contract Modifications	Contract Modifications Contracts may be modified to account for changes in contract scope or price. The Company considers contract modifications to exist when the modification either creates new rights or obligations or changes the existing enforceable rights and obligations of either party. Contract modifications are accounted for prospectively when it results in the promise to deliver additional products and services that are distinct and contract price does not increase by an amount that reflects standalone selling price for the new goods or services.
Balance Sheet Presentation	Balance Sheet Presentation Contracts with our clients are reflected in the unaudited condensed consolidated balance sheets as follows: • Accounts receivable, net represents amounts billed to clients in accordance with contract terms for which payment has not yet been received. It is presented net of allowance as part of current assets in the unaudited condensed consolidated balance sheets. • Unbilled receivables, net represents amounts that are unbilled due to agreed-upon contractual terms in which billing occurs subsequent to revenue recognition. This generally occurs in multi-year subscription license arrangements where control of the software license is transferred at the inception of the contract, but the client is invoiced annually in advance over the term of the license. Unbilled receivables may also arise on professional services arrangements sold on a fixed fee basis and on which revenue is recognized in proportion to the hours worked on the project, relative to the total expected hours. In some instances, revenue may be recognized in advance of the amounts which are invoiced on the achievement of contractual milestones. Unbilled receivables are presented net of allowance, if applicable, in the unaudited condensed consolidated balance sheets with the long-term portion included in other assets. Under ASC 606, these balances represent contract assets. • Contract costs consist principally of client acquisition costs (sales commissions). The Company classifies deferred commissions as current or non-current on our unaudited condensed consolidated balance sheets based on the timing of when the Company expects to recognize the expense. • Deferred revenue, net represents amounts that have been invoiced to the client for which the Company has the right to invoice, but that have not been recognized as revenues because the related products or services have not been transferred to the client. Deferred revenue that will be realized within twelve months of the balance sheet date is classified as current. The remaining deferred revenue is presented as non-current. Under ASC 606, these balances represent contract liabilities. The Company may receive consideration from its clients in advance of performance on a portion of the contract and, on another portion of the contract, perform in advance of receiving consideration. Contract assets and liabilities related to rights and obligations in a contract are interdependent. Therefore, contract assets and liabilities are presented net at the contract level, as either a single contract asset or a single contract liability, in the unaudited condensed consolidated balance sheets.
Cash and Cash Equivalents	Cash and Cash Equivalents All highly-liquid investments with a remaining maturity of three months or less at the time of purchase are considered to be cash equivalents. Cash equivalents consist primarily of investments in institutional money market funds. The fair value of money market funds held was $ 76.7 million as of December 31, 2023 . There were no cash equivalents as of June 30, 2023 .
Accounts Receivable and Allowance for Expected Credit Losses	Accounts Receivable and Allowance for Expected Credit Losses Accounts receivable are recorded at invoiced amounts, net of allowance for expected credit losses. The Company evaluates the collectability of its accounts receivable based on known collection risks, historical experience and forecasts of future collectability, and maintains an allowance for expected credit losses for estimated losses resulting from its clients failing to make required payments for subscriptions or services rendered. Sufficiency of the allowance is assessed based upon knowledge of credit-worthiness of our clients, review of historical receivable and reserves trends and other pertinent information. Actual future losses from uncollectible accounts may differ from these estimates.
Concentrations of Credit Risk and Significant Clients	Concentrations of Credit Risk and Significant Clients Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents and accounts receivable. The Company maintains its cash and cash equivalents with multiple high credit quality financial institutions. The Company is exposed to credit risk for cash held in financial institutions to the extent that such amounts recorded on the balance sheet are in excess of amounts that are insured by the Federal Deposit Insurance Corporation (“FDIC”). The Company has not experienced any such losses. No client individually accounted for 10% or more of the Company’s revenues for either of the three and six months ended December 31, 2023 and 2022. As of December 31, 2023 , no client individually accounted for 10% or more of the Company’s total accounts receivable. As of June 30, 2023 , one client individually accounted for 15 % of the Company’s total accounts receivable.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it is (i) no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, the unaudited condensed consolidated financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates. The JOBS Act does not preclude an emerging growth company from early adopting new or revised accounting standards. On December 31, 2023, the last day of the second fiscal quarter in 2024, the market value of common stock held by non-affiliates exceeded $ 700 million. Accordingly, the Company will be deemed a large accelerated filer as of June 30, 2024. As such, the Company will no longer (i) qualify as an emerging growth company, (ii) be able to take advantage of the extended timeline to comply with new or revised accounting standards applicable to public companies beginning with the Annual Report on Form 10-K for the year ending June 30, 2024 and (iii) be exempt from providing an auditor's attestation report on internal control over financial reporting pursuant to Section 404(b) of the Sarbanes-Oxley Act. Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments – Credit Losses , which requires the establishment of an allowance for estimated credit losses on financial assets, including trade and other receivables, at each reporting date. The Company adopted this guidance on July 1, 2023 on a modified retrospective basis. The adoption did no t have a material impact on its unaudited condensed consolidated financial statements. Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (ASC 280): Improvements to Reportable Segment Disclosures , which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. This guidance will be effective for the Company’s fiscal year beginning July 1, 2024, and should be applied on a retrospective basis to all periods presented. The Company is currently evaluating the impact of the adoption on its disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (ASC 740): Improvements to Income Tax Disclosures , which requires additional income tax disclosures to better assess how an entity’s operations, related tax risks, tax planning and operational opportunities affect its tax rate and prospects of future cash flows. This guidance will be effective for the Company’s fiscal year beginning July 1, 2025, and should be applied on a prospective or retrospective basis. The company expects the adoption to result in additional disclosures only.

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Dec. 31, 2023
Revenue Recognition [Abstract]
Summary of Revenues by Geography	Revenues by geography were as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 United States $ 73,163 $ 57,887 $ 143,018 $ 113,539 United Kingdom 13,829 13,511 28,555 26,523 Rest of the world 16,941 13,294 33,935 24,168 Total $ 103,933 $ 84,692 $ 205,508 $ 164,230
Summary of Contract Assets and Liabilities	The Company’s contract assets and liabilities were as follows (in thousands): December 31, 2023 June 30, 2023 Unbilled accounts receivable, net (1) $ 16,435 $ 10,765 Deferred revenue, net 197,234 192,397 (1) The long-term portion of $ 104 as of June 30, 2023 is included in other assets on the unaudited condensed consolidated balance sheets.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amounts of Goodwill	Changes in the carrying amounts of goodwill were as follows (in thousands): Six Months Ended December 31, 2023 2022 Balance, beginning of period $ 278,890 $ 269,103 Purchase price adjustment — 784 Foreign currency translation adjustment 65 ( 22 ) Balance, end of period $ 278,955 $ 269,865
Schedule of Intangible Assets Amortized on Straight Line Basis	Intangible assets acquired through business combinations consisted of the following (in thousands): December 31, 2023 Useful Life Gross Carrying Amount Accumulated Net Carrying Amount Client relationships 9 to 15 $ 48,900 $ ( 26,682 ) $ 22,218 Non-compete agreements 3 to 5 4,907 ( 3,709 ) 1,198 Trademarks and trade names Indefinite 4,683 — 4,683 Trademarks and trade names 5 to 10 7,822 ( 5,563 ) 2,259 Core technology 4 to 6 52,519 ( 45,385 ) 7,134 Backlog 2 1,000 ( 554 ) 446 Intangible assets, net $ 119,831 $ ( 81,893 ) $ 37,938 June 30, 2023 Useful Life Gross Carrying Amount Accumulated Net Carrying Amount Client relationships 9 to 15 $ 48,900 $ ( 24,341 ) $ 24,559 Non-compete agreements 3 to 5 4,907 ( 3,383 ) 1,524 Trademarks and trade names Indefinite 4,683 — 4,683 Trademarks and trade names 5 to 10 7,822 ( 5,270 ) 2,552 Core technology 4 to 6 52,519 ( 43,275 ) 9,244 Backlog 2 1,000 ( 305 ) 695 Intangible assets, net $ 119,831 $ ( 76,574 ) $ 43,257
Schedule of Amortization Expense Related to Acquired Intangible Assets	Amortization expense related to acquired intangible assets was recognized as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Cost of SaaS and support $ 1,055 $ 917 $ 2,110 $ 2,413 Sales and marketing 1,396 1,467 2,883 2,931 General and administrative 163 122 326 243 Total amortization expense $ 2,614 $ 2,506 $ 5,319 $ 5,587
Schedule of Estimated Future Amortization Expense for Acquired Intangible Assets	As of December 31, 2023, the estimated future amortization expense for acquired intangible assets is as follows (in thousands): Fiscal Year Ending June 30, Amount 2024 (remaining 6 months) $ 4,890 2025 7,506 2026 5,090 2027 4,925 2028 4,428 2029 and thereafter 6,416 Total remaining amortization $ 33,255

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Summary of Financial Assets Measured at Fair Value on Recurring Basis	The following table sets forth the Company’s financial assets that were measured at fair value on a recurring basis as of the date indicated by level within the fair value hierarchy (in thousands): December 31, 2023 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents: Money market funds $ 76,665 $ — $ — $ 76,665 Total financial assets $ 76,665 $ — $ — $ 76,665
Summary of Financial Liabilities Measured at Fair Value on Recurring Basis	The following tables set forth the Company’s financial liabilities that were measured at fair value on a recurring basis as of the dates indicated by level within the fair value hierarchy (in thousands): December 31, 2023 Level 1 Level 2 Level 3 Total Liabilities: Liability for contingent consideration, current portion $ — $ — $ 1,550 $ 1,550 Liability for contingent consideration, non-current portion — — 1,931 1,931 Total financial liabilities $ — $ — $ 3,481 $ 3,481 June 30, 2023 Level 1 Level 2 Level 3 Total Liabilities: Liability for contingent consideration, current portion $ — $ — $ 2,364 $ 2,364 Liability for contingent consideration, non-current portion — — 4,317 4,317 Total financial liabilities $ — $ — $ 6,681 $ 6,681
Schedule of Changes in Fair Value of Contingent Consideration Liabilities	Changes in the fair value of contingent consideration liabilities during the six months ended December 31, 2023 and 2022 were as follows (in thousands): Six Months Ended December 31, 2023 2022 Balance, beginning of period $ 6,681 $ 13,835 Payment of contingent consideration ( 985 ) ( 9,299 ) Change in fair value of contingent consideration ( 2,215 ) ( 232 ) Effect of foreign currency exchange rate changes — ( 410 ) Balance, end of period $ 3,481 $ 3,894

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	Property and equipment, net, consisted of the following (in thousands): December 31, 2023 June 30, 2023 Computer equipment and software $ 2,698 $ 2,290 Capitalized internal-use software 20,053 16,978 Furniture and office equipment 2,390 2,433 Leasehold improvements 5,840 5,897 Construction in progress 491 386 Total property and equipment 31,472 27,984 Less: accumulated depreciation and amortization ( 14,161 ) ( 11,618 ) Property and equipment, net $ 17,311 $ 16,366

Leases (Tables)

Leases (Tables)	6 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Components of Lease Costs	The components of lease costs were as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, Operating Leases: 2023 2022 2023 2022 Operating lease cost (1) $ 1,486 $ 1,508 $ 2,986 $ 3,190 Short-term lease cost 406 188 677 398 (1) Amount excluded a benefit on lease modification of $ 0.3 million and a net charge of $ 1.6 million related to lease modification and impairment for the three and six months ended December 31, 2022, respectively, as described above.
Schedule of Weighted Average Operating Leases Term and Discount Rate	The weighted-average remaining lease term of the Company's operating leases and the weighted-average discount rate used to measure the present value of the operating lease liabilities are as follows: Lease Term and Discount Rate: December 31, 2023 December 31, 2022 Weighted-average remaining lease term (in years) 5.8 6.5 Weighted-average discount rate 7.1 % 7.1 %
Schedule of Supplemental Cash Flow Information Related to Operating Leases	The following table presents supplemental cash flow information related to the Company's operating leases (in thousands): Six Months Ended December 31, 2023 2022 Cash payments included in the measurement of operating lease liabilities $ 3,102 $ 3,852 ROU assets obtained in exchange for new operating lease liabilities 501 713
Schedule of Remaining Maturities of Operating Lease Liabilities And Future Minimum Lease Payments	As of December 31, 2023, remaining maturities of operating lease liabilities are as follows (in thousands): Fiscal Year Ending June 30, Amount 2024 (remaining 6 months) $ 3,208 2025 4,031 2026 3,431 2027 2,873 2028 3,166 2029 and thereafter 6,486 Total lease payments 23,195 Less: imputed interest ( 4,164 ) Present value of operating lease liabilities $ 19,031

Stockholders' Equity and Stoc_2

Stockholders' Equity and Stock-Based Compensation (Tables)	6 Months Ended
	Dec. 31, 2023
Stockholders Equity And Stock Based Compensation [Abstract]
Schedule of Shares of Common Stock Reserved for Future Issuance	As of December 31, 2023, shares of common stock reserved for future issuance were as follows (in thousands): December 31, 2023 Stock plans: Outstanding stock options 8,345 Unvested PSUs and RSUs 6,168 Reserved for ESPP 2,820 Reserved for future stock award grants 5,567 Total shares of common stock reserved for issuance 22,900
Summary of Stock Option Activity	Stock option activity under the Company’s equity incentive plans during the six months ended December 31, 2023 was as follows (in thousands, except per share data): Number of Weighted- Weighted- Aggregate (1) Balance as of June 30, 2023 10,137 $ 10.42 5.5 $ 319,250 Exercised ( 1,641 ) 10.93 Forfeited ( 151 ) 20.78 Balance as of December 31, 2023 8,345 $ 10.13 4.8 $ 232,768 Vested and exercisable as of December 31, 2023 7,919 $ 9.61 4.7 $ 225,017 Vested and expected to vest as of December 31, 2023 8,345 $ 10.13 4.8 $ 232,768 (1) Aggregate intrinsic value for stock options represents the difference between the exercise price and the per share fair value of the Company’s common stock as of the end of the period, multiplied by the number of stock options outstanding.
Schedule of PSU Activity	PSU activity during the six months ended December 31, 2023 was as follows (in thousands, except per share data): Number of Shares Weighted- Balance as of June 30, 2023 3,645 $ 23.43 Granted 1,143 39.14 Vested ( 1,187 ) 24.28 Forfeited ( 173 ) 25.94 Balance as of December 31, 2023 3,428 $ 28.24
Schedule of RSU Activity	RSU activity during the six months ended December 31, 2023 was as follows (in thousands, except per share data): Number of Shares Weighted- Balance as of June 30, 2023 2,154 $ 24.46 Granted 1,228 37.17 Vested ( 458 ) 23.92 Forfeited ( 184 ) 27.97 Balance as of December 31, 2023 2,740 $ 30.01
Summary of Stock-Based Compensation Expense	The Company recorded stock-based compensation expense in the unaudited condensed consolidated statements of operations as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Cost of revenues Cost of SaaS and support $ 586 $ 546 $ 1,127 $ 831 Cost of professional services 1,432 1,145 2,765 1,893 Research and development 4,468 4,646 9,114 6,780 Sales and marketing 4,888 6,352 10,227 12,105 General and administrative 5,134 7,579 12,032 14,427 Total stock-based compensation $ 16,508 $ 20,268 $ 35,265 $ 36,036

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Loss Per Share	Basic net loss per share is the same as diluted net loss per share because the Company reported net losses for all periods presented. The following table sets forth the computation of basic and diluted net loss per share for the periods presented (in thousands, except per share data): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Numerator: Net loss $ ( 9,213 ) $ ( 19,754 ) $ ( 24,534 ) $ ( 39,808 ) Denominator: Weighted-average shares used to compute net loss per share, basic and diluted 70,521 63,287 69,729 63,076 Net loss per share, basic and diluted $ ( 0.13 ) $ ( 0.31 ) $ ( 0.35 ) $ ( 0.63 )
Schedule of Anti-dilutive Securities Excluded from Computation of Net Loss Per Share Attributable to Common Stockholders	The Company excluded the following potential shares of common stock from the calculation of diluted net loss per share because their effect would be anti-dilutive (in thousands): As of December 31, 2023 2022 Outstanding stock options to purchase common stock 8,345 12,153 Unvested PSUs and RSUs 6,168 6,655 Shares issuable under ESPP 10 14 Shares issuable related to acquisition 68 — Total 14,591 18,822

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2023 USD ($) Client	Dec. 31, 2022 Client	Dec. 31, 2023 USD ($) Client	Dec. 31, 2022 Client	Jun. 30, 2023 USD ($) Client
Summary Of Accounting Policies [Line Items]
Cash equivalents					$ 0
Common stock held by non-affiliates exceeded value	$ 700,000,000		$ 700,000,000
Money Market Funds
Summary Of Accounting Policies [Line Items]
Fair Value	$ 76,700,000		$ 76,700,000
ASU 2016-13
Summary Of Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true		true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jul. 01, 2023		Jul. 01, 2023
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]	true		true
Customer Concentration Risk | Revenues
Summary Of Accounting Policies [Line Items]
Number of client individually accounted for 10% or more | Client	0	0	0	0
Customer Concentration Risk | Accounts Receivable
Summary Of Accounting Policies [Line Items]
Number of client individually accounted for 10% or more | Client			0		1
Customer Concentration Risk | Accounts Receivable | Significant Customer
Summary Of Accounting Policies [Line Items]
Concentrations of credit risk percentage					15%
SaaS and Support
Summary Of Accounting Policies [Line Items]
Majority subscription arrangements term			1 year
Maximum | SaaS and Support
Summary Of Accounting Policies [Line Items]
Subscription arrangements term			3 years
Minimum | SaaS and Support
Summary Of Accounting Policies [Line Items]
Subscription arrangements term			1 year

Revenues - Summary of Revenues

Revenues - Summary of Revenues by Geography (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Disaggregation Of Revenue [Line Items]
Total revenues	$ 103,933	$ 84,692	$ 205,508	$ 164,230
United States
Disaggregation Of Revenue [Line Items]
Total revenues	73,163	57,887	143,018	113,539
United Kingdom
Disaggregation Of Revenue [Line Items]
Total revenues	13,829	13,511	28,555	26,523
Rest of the World
Disaggregation Of Revenue [Line Items]
Total revenues	$ 16,941	$ 13,294	$ 33,935	$ 24,168

Revenues - Additional Informati

Revenues - Additional Information (Details)	3 Months Ended		6 Months Ended
	Dec. 31, 2023 USD ($) Country	Dec. 31, 2022 Country	Dec. 31, 2023 USD ($) Country	Dec. 31, 2022 Country	Jun. 30, 2023 USD ($)
Disaggregation Of Revenue [Line Items]
Allowance for doubtful accounts associated with unbilled receivables	$ 0		$ 0		$ 0
Revenue recognized pertaining to deferred revenue			125,100,000
Remaining performance obligations	$ 447,600,000		$ 447,600,000
Excluding United States, United Kingdom and Rest of the World
Disaggregation Of Revenue [Line Items]
Countries accounted for 10% or more of revenues | Country	0	0	0	0

Revenues - Summary of Contract

Revenues - Summary of Contract Assets and Liabilities (Details) - USD ($) $ in Thousands		Dec. 31, 2023	Jun. 30, 2023
Revenue Recognition [Abstract]
Unbilled accounts receivable, net	[1]	$ 16,435	$ 10,765
Deferred revenue, net		$ 197,234	$ 192,397
[1] The long-term portion of $ 104 as of June 30, 2023 is included in other assets on the unaudited condensed consolidated balance sheets.

Revenues - Summary of Contrac_2

Revenues - Summary of Contract Assets and Liabilities (Parenthetical) (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Revenue Recognition [Abstract]
Long-term portion of unbilled accounts receivable, net	$ 104

Revenues - Additional Informa_2

Revenues - Additional Information 1 (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01	Dec. 31, 2023
Disaggregation Of Revenue [Line Items]
Revenue, Remaining Performance Obligation, Percentage	58%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months

Cash Equivalents - Schedule of

Cash Equivalents - Schedule of Cash Equivalents (Details) - USD ($)	Dec. 31, 2023	Jun. 30, 2023
Cash and Cash Equivalents [Line Items]
Amortized Cost		$ 0
Money Market Funds
Cash and Cash Equivalents [Line Items]
Fair Value	$ 76,700,000

Cash Equivalents - Additional I

Cash Equivalents - Additional Information (Details)	Jun. 30, 2023 USD ($)
Cash and Cash Equivalents [Abstract]
Cash equivalents	$ 0

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Changes in Carrying Amounts of Goodwill (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Balance, beginning of period	$ 278,890	$ 269,103
Purchase price adjustment	0	784
Foreign currency translation adjustment	65	(22)
Balance, end of period	$ 278,955	$ 269,865

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Line Items]
Purchase price adjustment	$ 0	$ 784
Billstream
Goodwill [Line Items]
Purchase price adjustment		$ 800

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Finite Lived Intangible Assets [Line Items]
Accumulated amortization	$ (81,893)	$ (76,574)
Net carrying amount	33,255
Intangible assets gross carrying amount excluding goodwill	119,831	119,831
Intangible assets, net carrying amount excluding goodwill	37,938	43,257
Client Relationships
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	48,900	48,900
Accumulated amortization	(26,682)	(24,341)
Net carrying amount	$ 22,218	$ 24,559
Client Relationships | Minimum
Finite Lived Intangible Assets [Line Items]
Useful life (In years)	9 years	9 years
Client Relationships | Maximum
Finite Lived Intangible Assets [Line Items]
Useful life (In years)	15 years	15 years
Non-Compete Agreements
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 4,907	$ 4,907
Accumulated amortization	(3,709)	(3,383)
Net carrying amount	$ 1,198	$ 1,524
Non-Compete Agreements | Minimum
Finite Lived Intangible Assets [Line Items]
Useful life (In years)	3 years	3 years
Non-Compete Agreements | Maximum
Finite Lived Intangible Assets [Line Items]
Useful life (In years)	5 years	5 years
Trademarks and Trade Names
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 7,822	$ 7,822
Accumulated amortization	(5,563)	(5,270)
Net carrying amount	2,259	2,552
Indefinite gross carrying amount	4,683	4,683
Indefinite net carrying amount	$ 4,683	$ 4,683
Trademarks and Trade Names | Minimum
Finite Lived Intangible Assets [Line Items]
Useful life (In years)	5 years	5 years
Trademarks and Trade Names | Maximum
Finite Lived Intangible Assets [Line Items]
Useful life (In years)	10 years	10 years
Core Technology
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 52,519	$ 52,519
Accumulated amortization	(45,385)	(43,275)
Net carrying amount	$ 7,134	$ 9,244
Core Technology | Minimum
Finite Lived Intangible Assets [Line Items]
Useful life (In years)	4 years	4 years
Core Technology | Maximum
Finite Lived Intangible Assets [Line Items]
Useful life (In years)	6 years	6 years
Backlog
Finite Lived Intangible Assets [Line Items]
Useful life (In years)	2 years	2 years
Gross carrying amount	$ 1,000	$ 1,000
Accumulated amortization	(554)	(305)
Net carrying amount	$ 446	$ 695

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Schedule of Amortization Expense Related to Acquired Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Finite Lived Intangible Assets [Line Items]
Total amortization expense	$ 2,614	$ 2,506	$ 5,319	$ 5,587
Cost of SaaS and Support
Finite Lived Intangible Assets [Line Items]
Total amortization expense	1,055	917	2,110	2,413
Sales and Marketing
Finite Lived Intangible Assets [Line Items]
Total amortization expense	1,396	1,467	2,883	2,931
General and Administrative
Finite Lived Intangible Assets [Line Items]
Total amortization expense	$ 163	$ 122	$ 326	$ 243

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets - Schedule of Estimated Future Amortization Expense for Acquired Intangible Assets (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024 (remaining 6 months)	$ 4,890
2025	7,506
2026	5,090
2027	4,925
2028	4,428
2029 and thereafter	6,416
Net carrying amount	$ 33,255

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Financial Assets Measured at Fair Value on Recurring Basis (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Money Market Funds
Financial assets:
Total financial assets (Cash equivalents)	$ 76,700
Fair Value, Recurring Basis
Financial assets:
Total financial assets (Cash equivalents)	76,665
Fair Value, Recurring Basis | Money Market Funds
Financial assets:
Total financial assets (Cash equivalents)	76,665
Fair Value, Recurring Basis | Level 1
Financial assets:
Total financial assets (Cash equivalents)	76,665
Fair Value, Recurring Basis | Level 1 | Money Market Funds
Financial assets:
Total financial assets (Cash equivalents)	76,665
Fair Value, Recurring Basis | Level 2
Financial assets:
Total financial assets (Cash equivalents)	0
Fair Value, Recurring Basis | Level 2 | Money Market Funds
Financial assets:
Total financial assets (Cash equivalents)	0
Fair Value, Recurring Basis | Level 3
Financial assets:
Total financial assets (Cash equivalents)	0
Fair Value, Recurring Basis | Level 3 | Money Market Funds
Financial assets:
Total financial assets (Cash equivalents)	$ 0

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Financial Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Recurring Basis - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Liabilities:
Liability for contingent consideration, current portion	$ 1,550	$ 2,364
Liability for contingent consideration, non-current portion	1,931	4,317
Total financial liabilities	3,481	6,681
Level 1
Liabilities:
Liability for contingent consideration, current portion	0	0
Liability for contingent consideration, non-current portion	0	0
Total financial liabilities	0	0
Level 2
Liabilities:
Liability for contingent consideration, current portion	0	0
Liability for contingent consideration, non-current portion	0	0
Total financial liabilities	0	0
Level 3
Liabilities:
Liability for contingent consideration, current portion	1,550	2,364
Liability for contingent consideration, non-current portion	1,931	4,317
Total financial liabilities	$ 3,481	$ 6,681

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Jun. 30, 2023	May 02, 2023	Jun. 13, 2022
Other Current Liabilities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value of contingent consideration liabilities, current	$ 3.5	$ 3.5	$ 2.4
Billstream
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Payment of contingent consideration	$ 1	$ 1
Billstream | Other Liabilities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Business combination, contingent consideration, liability					$ 4.1
Paragon | Other Liabilities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Business combination, contingent consideration, liability				$ 4.3

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Changes in Fair Value of Contingent Consideration Liabilities (Details) - Contingent Consideration Liability - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Balance, beginning of period	$ 6,681	$ 13,835
Payment of contingent consideration	(985)	(9,299)
Change in fair value of contingent consideration	(2,215)	(232)
Effect of foreign currency exchange rate changes	0	(410)
Balance, end of period	$ 3,481	$ 3,894

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Property Plant And Equipment [Line Items]
Property and equipment, Gross	$ 31,472	$ 27,984
Less: accumulated depreciation and amortization	(14,161)	(11,618)
Property and equipment, net	17,311	16,366
Computer Equipment and Software
Property Plant And Equipment [Line Items]
Property and equipment, Gross	2,698	2,290
Capitalized Internal-Use Software
Property Plant And Equipment [Line Items]
Property and equipment, Gross	20,053	16,978
Furniture and Office Equipment
Property Plant And Equipment [Line Items]
Property and equipment, Gross	2,390	2,433
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, Gross	5,840	5,897
Construction in Progress
Property Plant And Equipment [Line Items]
Property and equipment, Gross	$ 491	$ 386

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 0.5	$ 0.4	$ 0.9	$ 0.8
Capitalized costs to software development			3.1	2.7
Capitalized software amortization	0.9	$ 0.7	1.7	$ 1.3
Net book value of capitalized software development costs	$ 11.7		$ 11.7		$ 10.3

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Feb. 29, 2024	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Lessee, Lease, Description [Line Items]
Operating lease expiration year		2030
Operating lease liability		$ 4,400		$ 4,700
Operating lease, option to extend the term		5 years
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Current
Net impairment charge related to operating lease right-of-use assets			$ 1,600
Lease undiscounted base rent		$ 4,164
Lease undiscounted base rent	$ 7,300
New York City | Forecast
Lessee, Lease, Description [Line Items]
Operating lease expiration month and year	2030-02
Operating lease term	6 years

Leases - Schedule of Components

Leases - Schedule of Components of Lease Costs (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Lease, Cost [Abstract]
Operating lease cost	[1]	$ 1,486	$ 1,508	$ 2,986	$ 3,190
Short-term lease cost		$ 406	$ 188	$ 677	$ 398
[1] Amount excluded a benefit on lease modification of $ 0.3 million and a net charge of $ 1.6 million related to lease modification and impairment for the three and six months ended December 31, 2022, respectively, as described above.

Leases - Schedule of Componen_2

Leases - Schedule of Components of Lease Costs (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2022
Lease, Cost [Abstract]
Benefit on lease modification	$ 0.3
Net impairment charge related to right-of-use lease assets		$ 1.6

Leases - Schedule of Weighted A

Leases - Schedule of Weighted Average Operating Leases Term and Discount Rate (Details)	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Weighted-average remaining lease term (in years)	5 years 9 months 18 days	6 years 6 months
Weighted-average discount rate	7.10%	7.10%

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Cash payments included in the measurement of operating lease liabilities	$ 3,102	$ 3,852
ROU assets obtained in exchange for new operating lease liabilities	$ 501	$ 713

Leases - Schedule of Remaining

Leases - Schedule of Remaining Maturities of Operating Lease Liabilities And Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Remainder of fiscal year	$ 3,208
Year 1	4,031
Year 2	3,431
Year 3	2,873
Year 4	3,166
Year 4 and thereafter	6,486
Total lease payments	23,195
Less: imputed interest	(4,164)
Present value of operating lease liabilities	$ 19,031

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - Microsoft - USD ($) $ in Millions	1 Months Ended
	Dec. 31, 2021	Dec. 31, 2023
Long Term Purchase Commitment [Line Items]
Purchase Commitment ,Remaining		$ 101
Cloud Services Commitment
Long Term Purchase Commitment [Line Items]
Purchase commitment, end date	2028-12
Purchase commitment, option to extend remaining commitment term	12 months
Purchase commitment, option to extend remaining commitment date	2029-12
Cloud Services Commitment | Minimum
Long Term Purchase Commitment [Line Items]
Purchase commitment amount	$ 110

Debt - Additional Information (

Debt - Additional Information (Details) - JP Morgan Credit Agreement	Oct. 05, 2021 USD ($)	Dec. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)
Debt Instrument [Line Items]
Debt instrument, outstanding borrowings		$ 0	$ 0
Minimum
Debt Instrument [Line Items]
Net leverage ratio	0.0025
Maximum
Debt Instrument [Line Items]
Net leverage ratio	0.0040
SOFR | Minimum
Debt Instrument [Line Items]
Debt Instrument, basis spread on variable rate	1.75%
SOFR | Maximum
Debt Instrument [Line Items]
Debt Instrument, basis spread on variable rate	2.50%
Alternate Base Rate | Minimum
Debt Instrument [Line Items]
Debt Instrument, basis spread on variable rate	0.75%
Alternate Base Rate | Maximum
Debt Instrument [Line Items]
Debt Instrument, basis spread on variable rate	1.50%
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity	$ 50,000,000
Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity	$ 100,000,000
Debt instrument term	5 years
Letters of Credit
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity	$ 10,000,000

Stockholders' Equity and Stoc_3

Stockholders' Equity and Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Jul. 01, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Proceeds from stock option exercises		$ 17,936	$ 4,480
Unrecognized compensation cost related to unvested stock-based awards granted	$ 129,400	$ 129,400
Unrecognized compensation cost related to unvested stock-based awards granted, weighted-average period for recognition		2 years 7 months 6 days
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation vesting period		4 years
2021 Omnibus Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares added				4,226,691
ESPP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares added				845,338
Unrecognized compensation cost related to unvested stock-based awards granted, weighted-average period for recognition		4 months 24 days
Purchase price of common stock lower of fair market value, percent		85%
Terms of award		The ESPP provides an offering period that begins on June 1 and December 1 of each year and each offering period consists of one six-month purchase period.
Unrecognized compensation costs	$ 600	$ 600
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Options, Granted	0	0
Share based compensation expiration period		10 years
Total intrinsic value of options exercised		$ 43,900
Proceeds from stock option exercises		$ 17,900

Stockholders' Equity and Stoc_4

Stockholders' Equity and Stock-Based Compensation - Schedule of Shares of Common Stock Reserved for Future Issuance (Details) shares in Thousands	Dec. 31, 2023 shares
Class Of Stock [Line Items]
Total shares of common stock reserved for issuance	22,900
Outstanding Stock Options
Class Of Stock [Line Items]
Total shares of common stock reserved for issuance	8,345
Unvested PSUs and RSUs
Class Of Stock [Line Items]
Total shares of common stock reserved for issuance	6,168
Reserved for Future Stock Award Grants
Class Of Stock [Line Items]
Total shares of common stock reserved for issuance	5,567
Reserved for ESPP
Class Of Stock [Line Items]
Total shares of common stock reserved for issuance	2,820

Stockholders' Equity and Stoc_5

Stockholders' Equity and Stock-Based Compensation - Summary of Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended		12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares		Jun. 30, 2023 USD ($) $ / shares shares
Share-Based Payment Arrangement [Abstract]
Number of Options, Outstanding, Beginning balance | shares	10,137
Number of Options, Exercised | shares	(1,641)
Number of Options, Forfeited | shares	(151)
Number of Options, Outstanding, Ending balance | shares	8,345		10,137
Number of Options, Vested and exercisable | shares	7,919
Number of Options, Vested and expected to vest | shares	8,345
Weighted-Average Exercise Price, Beginning balance | $ / shares	$ 10.42
Weighted-Average Exercise Price, Exercised | $ / shares	10.93
Weighted-Average Exercise Price, Forfeited | $ / shares	20.78
Weighted-Average Exercise Price, Ending balance | $ / shares	10.13		$ 10.42
Weighted-Average Exercise Price, Vested and exercisable | $ / shares	9.61
Weighted-Average Exercise Price, Vested and expected to vest | $ / shares	$ 10.13
Weighted-Average Remaining Contractual Term	4 years 9 months 18 days		5 years 6 months
Weighted-Average Remaining Contractual Term, Vested and exercisable	4 years 8 months 12 days
Weighted-Average Remaining Contractual Term, Vested and expected to vest	4 years 9 months 18 days
Aggregate Intrinsic Value | $	$ 232,768	[1]	$ 319,250	[1]
Aggregate Intrinsic Value, Vested and exercisable | $	225,017	[1]
Aggregate Intrinsic Value, Vested and expected to vest | $	$ 232,768	[1]
[1] Aggregate intrinsic value for stock options represents the difference between the exercise price and the per share fair value of the Company’s common stock as of the end of the period, multiplied by the number of stock options outstanding.

Stockholders' Equity and Stoc_6

Stockholders' Equity and Stock-Based Compensation - Schedule of PSU Activity (Details) - PSU shares in Thousands	6 Months Ended
	Dec. 31, 2023 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Beginning balance | shares	3,645
Number of Shares, Granted | shares	1,143
Number of Shares, Vested | shares	(1,187)
Number of Shares, Forfeited | shares	(173)
Number of Shares, Ending balance | shares	3,428
Weighted-Average Grant Date Fair Value, Beginning balance | $ / shares	$ 23.43
Weighted-Average Grant Date Fair Value, Granted | $ / shares	39.14
Weighted-Average Grant Date Fair Value, Vested | $ / shares	24.28
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares	25.94
Weighted-Average Grant Date Fair Value, Ending balance | $ / shares	$ 28.24

Stockholders' Equity and Stoc_7

Stockholders' Equity and Stock-Based Compensation - Schedule of RSU Activity (Details) - RSU shares in Thousands	6 Months Ended
	Dec. 31, 2023 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Beginning balance | shares	2,154
Number of Shares, Granted | shares	1,228
Number of Shares, Vested | shares	(458)
Number of Shares, Forfeited | shares	(184)
Number of Shares, Ending balance | shares	2,740
Weighted-Average Grant Date Fair Value, Beginning balance | $ / shares	$ 24.46
Weighted-Average Grant Date Fair Value, Granted | $ / shares	37.17
Weighted-Average Grant Date Fair Value, Vested | $ / shares	23.92
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares	27.97
Weighted-Average Grant Date Fair Value, Ending balance | $ / shares	$ 30.01

Stockholders' Equity and Stoc_8

Stockholders' Equity and Stock-Based Compensation - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 16,508	$ 20,268	$ 35,265	$ 36,036
Cost of SaaS and Support
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	586	546	1,127	831
Cost of Professional Services
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	1,432	1,145	2,765	1,893
Research and Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	4,468	4,646	9,114	6,780
Sales and Marketing
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	4,888	6,352	10,227	12,105
General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 5,134	$ 7,579	$ 12,032	$ 14,427

Net Loss Per Share - Computatio

Net Loss Per Share - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Numerator:
Net loss	$ (9,213)	$ (19,754)	$ (24,534)	$ (39,808)
Denominator:
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic	70,521	63,287	69,729	63,076
Weighted-average shares used to compute net loss per share attributable to common stockholders, diluted	70,521	63,287	69,729	63,076
Net loss per share attributable to common stockholders
Basic	$ (0.13)	$ (0.31)	$ (0.35)	$ (0.63)
Net loss per share attributable to common stockholders
Diluted	$ (0.13)	$ (0.31)	$ (0.35)	$ (0.63)

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Anti-dilutive Securities Excluded from Computation of Net Loss Per Share Attributable to Common Stockholders (Details) - shares shares in Thousands	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from net loss per share attributable to common stockholders	14,591	18,822
Outstanding Stock Options to Purchase Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from net loss per share attributable to common stockholders	8,345	12,153
Shares Issuable Related to Acquisition
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from net loss per share attributable to common stockholders	68	0
Unvested PSUs and RSUs
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from net loss per share attributable to common stockholders	6,168	6,655
Shares Issuable under ESPP
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from net loss per share attributable to common stockholders	10	14

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - Common Stock - Secondary Offering - USD ($) $ / shares in Units, $ in Millions		3 Months Ended	6 Months Ended
	Nov. 30, 2023	Dec. 31, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Common stock, shares sold	5,000,000
Common stock, share price	$ 39.01
Costs incurred in connection with the offering		$ 0.3	$ 0.6