Bill.com (BILL) 10-K 28 Aug 20 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Jun. 30, 2020	Aug. 21, 2020	Dec. 31, 2019
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Registrant Name	BILL.COM HOLDINGS, INC.
Entity Central Index Key	0001786352
Current Fiscal Year End Date	--06-30
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Public Float			$ 1.1
Entity Common Stock, Shares Outstanding		80,180,550
Entity Current Reporting Status	Yes
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Shell Company	false
Entity File Number	001-39149
Entity Tax Identification Number	83-2661725
Entity Address, Address Line One	1800 Embarcadero Road
Entity Address, City or Town	Palo Alto
Entity Address, State or Province	CA
City Area Code	650
Local Phone Number	621-7700
Entity Address, Postal Zip Code	94303
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Document Annual Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, $0.00001 par value
Security Exchange Name	NYSE
Trading Symbol	BILL
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive proxy statement for its 2020 Annual Meeting of Stockholders, or Proxy Statement, to be filed within 120 days after the end of the fiscal year covered by this Annual Report on Form 10-K, are incorporated by reference in Part III. Except with respect to information specifically incorporated by reference in this Annual Report, the Proxy Statement shall not be deemed to be filed as part hereof.

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Current assets:
Cash and cash equivalents	$ 573,643	$ 90,306	[1]
Short-term investments	123,974	71,969
Accounts receivable, net	4,252	4,398
Unbilled revenue	6,549	4,795
Prepaid expenses and other current assets	26,781	12,326
Funds held for customers	1,644,250	1,329,306
Total current assets	2,379,449	1,513,100
Property and equipment, net	13,866	6,557
Other assets	10,700	6,641
Total assets	2,404,015	1,526,298
Current liabilities:
Accounts payable	3,478	5,063
Accrued compensation and benefits	12,387	4,333
Other accrued and current liabilities	8,541	6,556
Redeemable convertible preferred stock warrant liabilities		688
Deferred revenue	5,891	3,469
Line of credit borrowings	2,300
Customer fund deposits	1,644,250	1,329,306
Total current liabilities	1,676,847	1,349,415
Deferred revenue, non-current	2,622	1,786
Other long-term liabilities	13,827	1,447
Total liabilities	1,693,296	1,352,648
Commitments and contingencies (Note 12)
Redeemable convertible preferred stock: none authorized, issued and outstanding at June 30, 2020; 106,090 shares authorized, and 52,435 shares issued and outstanding at June 30, 2019; liquidation preference of $280,513 at June 30, 2019		276,307
Stockholders' equity (deficit):
Preferred stock: $0.00001 par value per share; 10,000 shares authorized; none issued and outstanding
Additional paid-in capital	857,044	14,672
Accumulated other comprehensive income	2,420	326
Accumulated deficit	(148,747)	(117,656)
Total stockholders' equity (deficit)	710,719	(102,657)
Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit)	2,404,015	1,526,298
Common Stock
Stockholders' equity (deficit):
Common stock; $0.00001 par value per share; 500,000 and 169,300 shares authorized; 79,635 and 8,154 shares issued and outstanding at June 30, 2020 and 2019, respectively	2	1
Total stockholders' equity (deficit)	$ 2	$ 1
[1]	Amounts have been adjusted to reflect the adoption of Accounting Standards Update No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Redeemable convertible preferred stock,Shares authorized	0	106,090,000
Redeemable convertible preferred stock,Shares issued	0	52,435,000
Redeemable convertible preferred stock,Shares outstanding	0	52,435,000
Redeemable convertible preferred stock,liquidation preference		$ 280,513
Preferred stock, par value	$ 0.00001	$ 0.00001
Preferred stock, Shares authorized	10,000,000	10,000,000
Preferred stock, Shares issued	0	0
Preferred stock, Shares outstanding	0	0
Common Stock
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, Shares authorized	500,000,000	169,300,000
Common stock, Shares issued	79,635,000	8,154,000
Common stock, Shares outstanding	79,635,000	8,154,000
Common Stock Non Voting
Common stock, Shares authorized	0	14,000,000
Common stock, Shares issued	0	0
Common stock, Shares outstanding	0	0

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Revenue
Total revenue	$ 42,110	$ 41,230	$ 39,080	$ 35,180	$ 31,684	$ 28,244	$ 25,999	$ 22,424	$ 157,600	$ 108,351	$ 64,865
Cost of revenue	10,100	10,110	9,787	9,147	8,488	7,914	7,175	6,341	39,144	29,918	19,372
Gross profit	32,010	31,120	29,293	26,033	23,196	20,330	18,824	16,083	118,456	78,433	45,493
Operating expenses
Research and development	14,929	13,969	12,992	11,515	9,447	7,899	6,154	5,424	53,405	28,924	17,986
Sales and marketing	11,796	11,802	11,491	10,267	9,949	7,365	6,856	5,944	45,356	30,114	19,290
General and administrative	15,546	15,064	12,748	10,535	8,953	7,904	6,404	5,937	53,893	29,198	16,034
Total operating expenses	42,271	40,835	37,231	32,317	28,349	23,168	19,414	17,305	152,654	88,236	53,310
Loss from operations	(10,261)	(9,715)	(7,938)	(6,284)	(5,153)	(2,838)	(590)	(1,222)	(34,198)	(9,803)	(7,817)
Other income, net	764	1,397	360	639	596	734	686	317	3,160	2,333	632
Loss before provision for (benefit from) income taxes	(9,497)	(8,318)	(7,578)	(5,645)	(4,557)	(2,104)	96	(905)	(31,038)	(7,470)	(7,185)
Provision for (benefit from) income taxes	1	1	0	51	(59)	(70)	(6)	(21)	53	(156)	10
Net loss	$ (9,498)	$ (8,319)	$ (7,578)	$ (5,696)	$ (4,498)	$ (2,034)	$ 102	$ (884)	$ (31,091)	$ (7,314)	$ (7,195)
Net loss per share attributable to common stockholders:
Basic and diluted	$ (0.13)	$ (0.11)	$ (0.34)	$ (0.69)	$ (0.56)	$ (0.26)	$ 0	$ (0.12)	$ (0.70)	$ (0.94)	$ (1.01)
Weighted-average number of common shares used to compute net loss per share attributable to common stockholders:
Basic and diluted									44,106	7,797	7,155
Subscription and Transaction Fees
Revenue
Total revenue	$ 38,801	$ 36,092	$ 32,964	$ 28,548	$ 25,225	$ 22,112	$ 20,444	$ 18,170	$ 136,405	$ 85,951	$ 56,992
Interest on Funds Held for Customers
Revenue
Total revenue	$ 3,309	$ 5,138	$ 6,116	$ 6,632	$ 6,459	$ 6,132	$ 5,555	$ 4,254	$ 21,195	$ 22,400	$ 7,873

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (31,091)	$ (7,314)	$ (7,195)
Other comprehensive income (loss):
Net unrealized gain (loss) on investments in available-for-sale securities, before tax	2,094	679	(177)
Income tax		(176)
Comprehensive loss	$ (28,997)	$ (6,811)	$ (7,372)

CONSOLIDATED STATEMENTS OF REDE

CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Follow-On Public Offering	Common Stock	Common StockFollow-On Public Offering	Additional Paid-in Capital	Additional Paid-in CapitalFollow-On Public Offering	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Redeemable Convertible Preferred Stock
Beginning balance at Jun. 30, 2017	$ (96,832)		$ 1		$ 6,314			$ (103,147)
Beginning balance, shares at Jun. 30, 2017									41,408,000
Beginning balance at Jun. 30, 2017									$ 135,342
Beginning balance, shares at Jun. 30, 2017			6,969,000
Issuance of Series G and H redeemable convertible preferred stock, net of issuance costs									$ 55,805
Issuance of Series G and H redeemable convertible preferred stock, net of issuance costs (in shares)									5,723,000
Issuance of common stock upon exercise of stock options	755				755
Issuance of common stock upon exercise of stock options, shares			376,000
Employee stock-based compensation	1,545				1,545
Other comprehensive income (loss), net of tax	(177)						$ (177)
Net loss	(7,195)							(7,195)
Ending balance at Jun. 30, 2018	(101,904)		$ 1		8,614		(177)	(110,342)
Ending balance, shares at Jun. 30, 2018									47,131,000
Ending balance at Jun. 30, 2018									$ 191,147
Ending balance, shares at Jun. 30, 2018			7,345,000
Issuance of Series G and H redeemable convertible preferred stock, net of issuance costs									$ 85,160
Issuance of Series G and H redeemable convertible preferred stock, net of issuance costs (in shares)									5,304,000
Issuance of common stock upon exercise of stock options	1,702				1,702
Issuance of common stock upon exercise of stock options, shares			809,000
Employee stock-based compensation	4,082				4,082
Issuance of stock warrants	274				274
Other comprehensive income (loss), net of tax	503						503
Net loss	(7,314)							(7,314)
Ending balance at Jun. 30, 2019	$ (102,657)		$ 1		14,672		326	(117,656)
Ending balance, shares at Jun. 30, 2019	52,435,000								52,435,000
Ending balance at Jun. 30, 2019	$ 276,307								$ 276,307
Ending balance, shares at Jun. 30, 2019			8,154,000
Conversion of redeemable convertible preferred stock to common stock upon initial public offering	276,307		$ 1		276,306
Conversion of redeemable convertible preferred stock to common stock upon initial public offering, shares									(52,435,000)
Conversion of redeemable convertible preferred stock to common stock upon initial public offering									$ (276,307)
Conversion of redeemable convertible preferred stock to common stock upon initial public offering, shares			52,435,000
Reclassification of redeemable convertible preferred stock warrant liabilities to additional paid-in capital upon initial public offering	1,405				1,405
Issuance of common stock upon public offering, net of underwriting discounts and commissions and other offering costs	225,481	$ 307,512			225,481	$ 307,512
Issuance of common stock upon public offering, net of underwriting discounts and commissions and other offering costs, shares			11,297,000	4,330,000
Issuance of common stock upon exercise of stock options	$ 13,460				13,460
Issuance of common stock upon exercise of stock options, shares	3,291,000		3,298,000
Issuance of common stock upon exercise of stock warrants	$ 144				144
Issuance of common stock upon exercise of stock warrants, shares			121,000
Employee stock-based compensation	18,064				18,064
Other comprehensive income (loss), net of tax	2,094						2,094
Net loss	(31,091)							(31,091)
Ending balance at Jun. 30, 2020	$ 710,719		$ 2		$ 857,044		$ 2,420	$ (148,747)
Ending balance, shares at Jun. 30, 2020	0
Ending balance, shares at Jun. 30, 2020			79,635,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		12 Months Ended
		Jun. 30, 2020	Jun. 30, 2019		Jun. 30, 2018
Cash flows from operating activities:
Net loss		$ (31,091)	$ (7,314)	[1]	$ (7,195)	[1]
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		4,257	3,154	[1]	2,314	[1]
Stock-based compensation		18,064	4,082	[1]	1,545	[1]
Accretion of discount on investments in marketable debt securities		(3,815)	(1,319)	[1]
Revaluation of warrant liabilities and forfeiture of warrants		717	25	[1]	182	[1]
Issuance of warrants	[1]		274
Deferred income taxes	[1]		(176)
Changes in assets and liabilities:
Accounts receivable		(1,054)	(2,098)	[1]	(279)	[1]
Unbilled revenue		(554)	(1,748)	[1]	(503)	[1]
Prepaid expenses and other current assets		(10,434)	(5,690)	[1]	(3,477)	[1]
Other assets		(4,928)	(995)	[1]	(2,828)	[1]
Accounts payable		(1,596)	3,171	[1]	(563)	[1]
Accrued and other current liabilities		9,755	4,336	[1]	1,642	[1]
Other long-term liabilities		12,991	302	[1]	35	[1]
Deferred revenue		3,258	47	[1]	771	[1]
Net cash used in operating activities		(4,430)	(3,949)	[1]	(8,356)	[1]
Cash flows from investing activities:
Purchases of corporate and customer fund short-term investments		(1,088,611)	(830,622)	[1]	(726,788)	[1]
Proceeds from maturities of corporate and customer fund short-term investments		806,000	694,303	[1]	290,828	[1]
Proceeds from sale of corporate and customer fund short-term investments		46,159	54,715	[1]	16,498	[1]
(Increase) decrease in other receivables included in funds held for customers		(959)	(10,203)	[1]	3,686	[1]
Purchases of property and equipment		(11,437)	(2,743)	[1]	(1,313)	[1]
Capitalization of internal-use software costs		(639)	(1,556)	[1]	(733)	[1]
Net cash used in investing activities		(249,487)	(96,106)	[1]	(417,822)	[1]
Cash flows from financing activities:
Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions and other offering costs		225,481
Proceeds from issuance of common stock upon follow-on public offering, net of underwriting discounts and commissions and other offering costs		308,176
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs	[1]		85,160		55,805
Increase in customer fund deposits liability		314,944	414,293	[1]	263,671	[1]
Proceeds from line of credit and bank borrowings		2,300			9,500	[1]
Payments on bank borrowings	[1]		(9,500)		(3,387)
Proceeds from exercise of stock options		12,232	1,702	[1]	693	[1]
Proceeds from exercise of stock warrants		144
Payments of deferred debt issuance costs		(151)
Net cash provided by financing activities		863,126	491,655	[1]	326,282	[1]
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents		609,209	391,600	[1]	(99,896)	[1]
Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of year	[1]	983,168	591,568		691,464
Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of year		1,592,377	983,168	[1]	591,568	[1]
Supplemental disclosure of cash flow information:
Cash paid for interest		174	872	[1]	436	[1]
Noncash investing and financing activities:
Payable on purchases of property and equipment	[1]				1,908
Conversion of redeemable convertible preferred stock into common stock upon initial public offering		276,307
Reclassification of redeemable convertible preferred stock warrant liabilities into additional paid-in capital upon initial public offering		1,405
Receivable from broker-assisted exercises of stock options		1,228
Accrued offering and debt issuance costs		664	470	[1]
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents within the consolidated balance sheets to the amounts shown in the consolidated statements of cash flows above:
Cash and cash equivalents		573,643	90,306	[1]	22,401	[1]
Restricted cash included in other current assets		$ 35	$ 256	[1]	$ 256	[1]
Restricted Cash, Current, Asset, Statement of Financial Position [Extensible List]		us-gaap:OtherAssetsCurrent	us-gaap:OtherAssetsCurrent	[1]	us-gaap:OtherAssetsCurrent	[1]
Restricted cash included in other assets	[1]		$ 550
Restricted Cash, Noncurrent, Asset, Statement of Financial Position [Extensible List]		us-gaap:OtherAssetsNoncurrent	us-gaap:OtherAssetsNoncurrent	[1]	us-gaap:OtherAssetsNoncurrent	[1]
Restricted cash and restricted cash equivalents included in funds held for customers		$ 1,018,699	$ 892,056	[1]	$ 568,911	[1]
Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of year		$ 1,592,377	$ 983,168	[1]	$ 591,568	[1]
[1]	Amounts have been adjusted to reflect the adoption of Accounting Standards Update No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash.

The Company and Its Significant

The Company and Its Significant Accounting Policies	12 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
The Company and Its Significant Accounting Policies	NOTE 1 – THE COMPANY AND ITS SIGNIFICANT ACCOUNTING POLICIES Bill.com, Inc. (the Company), a Delaware company incorporated on April 7, 2006, is a provider of software-as-a-service, cloud-based payments products, which allow users to automate accounts payable and accounts receivable transactions and enable users to easily connect with their suppliers and/or customers to do business, manage cash flows and improve back office efficiency. In November 2018, the Company consummated a reorganization by interposing a holding company between Bill.com, Inc. and its stockholders. To accomplish the reorganization, the Company formed BDC Payments Holdings, Inc. (BDC), which was incorporated in Delaware on August 2, 2018, and Bill.com, LLC (Merger Sub) as a wholly owned subsidiary of BDC. The Company merged Bill.com, Inc. and Merger Sub, with Bill.com, Inc. as the surviving entity, by issuing identical shares of stock of BDC to the stockholders of Bill.com, Inc. in exchange for their equity interest in Bill.com, Inc. After the merger, all of the stockholders of Bill.com, Inc. became 100% stockholders of BDC, and Bill.com, Inc. became a wholly owned subsidiary of BDC. Concurrent with the merger, Bill.com, Inc. (a C-corporation entity) was converted into a limited liability company and renamed into Bill.com, LLC, with BDC as the sole member. The merger was considered a transaction between entities under common control. Accordingly, BDC recognized the assets and liabilities of Bill.com, Inc. at their carrying values and the accompanying consolidated financial statements present comparative information for prior periods on a consolidated basis, as if both BDC and Bill.com, LLC (formerly Bill.com, Inc.) were under common control for all periods presented. On June 27, 2019, BDC changed its name to Bill.com Holdings, Inc. Bill.com Holdings, Inc. and Bill.com, LLC are collectively referred to as the “Company” in the accompanying consolidated financial statements after the reorganization. Initial Public Offering and Follow-on Offering On December 16, 2019, the Company closed its initial public offering (IPO), in which it issued 11,297,058 shares of common stock at a public offering price of $22.00 per share, which included 1,473,529 shares of common stock issued pursuant to the exercise in full of the over-allotment option by the underwriters. On June 15, 2020, the Company closed a follow-on public offering in which it issued 4,330,000 shares of common stock at a public offering price of $74.25 per share, which included 1,080,000 shares of common stock issued pursuant to the exercise in full of the over-allotment option by the underwriters. Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and were prepared in conformity with U.S. generally accepted accounting principles (GAAP). Intercompany accounts and transactions have been eliminated. Emerging Growth Company Status 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, these 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. The Company expects to use the extended transition period for any new or revised accounting standards during the period which the Company remains an emerging growth company. Stock Split On November 27, 2019, the Company filed an amendment to its amended and restated certificate of incorporation to effect a reverse split of shares of the Company’s issued and outstanding redeemable convertible preferred stock, common stock and non-voting common stock on a 2-for-1 basis. The par value and authorized shares of the redeemable convertible preferred stock, common stock and non-voting common stock were not adjusted as a result of the reverse stock split. All references to the redeemable convertible preferred stock, common stock, non-voting common stock, options to purchase common stock, early exercised stock options, warrants to purchase redeemable convertible preferred stock, warrants to purchase common stock, per share amounts and related information contained in the consolidated financial statements have been retroactively adjusted to reflect the effect of the reverse stock split for all periods presented. Segment Reporting The Company operates as one operating segment because its chief operating decision maker, who is the Chief Executive Officer, reviews its financial information on a consolidated basis for purposes of making decisions regarding allocating resources and assessing performance. All long-lived assets are located in the United States and all revenue is generated in the United States. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make various estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and the accompanying notes. Management regularly assesses these estimates, including those related to fair value of common stock prior to the Company’s IPO and stock-based compensation, fair value of redeemable convertible preferred stock warrant liabilities up until the date of the Company’s IPO, useful lives of property and equipment, the attribution method used to recognize revenue on annual contracts, variable consideration used in revenue recognition for certain financial institutions, reserve for sales tax obligations, reserve for losses on funds held for customers, and income taxes. The Company evaluates these estimates and assumptions and adjusts the estimates and assumptions accordingly. Actual results could differ from those estimates, and such differences may be material to the consolidated financial statements. Funds held for customers and customer fund deposits Funds held for customers and the corresponding liability on customer fund deposits represent funds that are collected from customers for payments to their suppliers and funds that are collected on behalf of customers. Generally, these funds held for customers are initially deposited in separate bank accounts until remitted to the customers’ suppliers or to the customers. The funds held for customers are restricted for the purpose of satisfying the customers’ fund obligations and are not available for general business use by the Company. The Company partially invests funds held for customers in highly liquid investments with maturities of three months or less and in marketable debt securities with maturities of more than three months to one year at the time of purchase. Funds held for customers that are invested in marketable debt securities are classified as available-for-sale. These investments are carried at fair value, with unrealized gains or losses included in accumulated other comprehensive (loss) income on the consolidated balance sheets and as a component of the consolidated statements of comprehensive loss. The Company contractually earns interest on funds held for customers with associated counterparties. Cash, cash equivalents, restricted cash and restricted cash equivalents Cash and cash equivalents consist of cash in banks and highly liquid investments with maturities of three months or less at the time of purchase. Restricted cash consists of (i) cash collateral required by a bank in connection with the Company’s money transmission activities, (ii) cash in bank deposits required by the Company’s lessors to satisfy letter of credit requirements under its lease agreements, and (iii) cash in bank deposits included in funds held for customers. Restricted cash equivalents consist of highly liquid investments with maturities of three months or less at the time of purchase that are included in funds held for customers. Except for the restricted cash included in funds held for customers, the current and non-current portion of the restricted cash is included in prepaid expenses and other current assets and in other assets, respectively, in the accompanying consolidated balance sheets. Short–term investments The Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, short-term investments, and accounts receivable. The Company maintains its cash and cash equivalents and short-term investments with major financial institutions that may at times exceed federally insured limits. Management believes that these financial institutions are financially sound and the Company has not experienced material losses. There were no customers that exceeded 10% of the Company’s total revenue during the years ended June 30, 2020, 2019 and 2018. Accounts receivable, unbilled revenue and allowance for doubtful accounts Accounts receivable are recorded at the invoiced amount, net of an allowance for doubtful accounts. Unbilled revenue is recorded based on amounts that the Company expects to invoice to customers in the subsequent period. The allowance for doubtful accounts is based on the Company’s assessment of the collectability of the accounts receivable. The Company regularly reviews the adequacy of the allowance for doubtful accounts by considering the age of each outstanding invoice and the collection history of each customer to determine whether a specific allowance is appropriate. Accounts receivable deemed uncollectable are charged against the allowance for doubtful accounts when identified. For all periods presented, the allowance for doubtful accounts was not significant. Property and equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the respective assets, generally one to five years. Leasehold improvements are amortized over the shorter of estimated useful lives of the assets or the lease term. Expenditures for repairs and maintenance are charged to expense as incurred. Upon disposition, the cost and related accumulated depreciation and amortization are removed from the accounts and the resulting gain or loss is reflected in the consolidated statements of operations. Capitalized internal-use software The Company capitalizes internal and external direct costs incurred related to obtaining or developing internal-use software. Costs incurred during the application development stage are capitalized and are amortized using the straight-line method over the estimated useful lives of the software, generally three years commencing on the first day of the month following when the software is ready for its intended use. Costs related to planning and post-implementation activities are expensed as incurred. During the years ended June 30, 2020, 2019 and 2018, the Company capitalized $0.6 million, $1.6 million and $0.7 million, respectively, in software development costs. As of June 30, 2020 and 2019, the unamortized internal-use software was $1.9 million and $2.3 million, respectively. Impairment of long-lived assets Long-lived assets, such as property and equipment and capitalized internal-use software, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability of an asset to be held and used is measured by a comparison of the carrying amount of the asset to the estimated undiscounted future cash flows expected to be generated by the asset or asset group. If the carrying value of an asset or asset group exceeds its estimated future cash flows, an impairment charge is recognized to the extent that the carrying value exceeds its fair value. There were no impairment charges recognized during the years ended June 30, 2020, 2019 and 2018. Deferred offering costs Prior to the IPO, the offering costs, which consisted primarily of accounting, legal and other fees related to the IPO, were capitalized and included in other assets. As of June 30, 2019, the Company capitalized $0.4 million of deferred offering costs and subsequently reclassified such amount to additional paid-in capital as an offset against the IPO proceeds upon the consummation of the IPO. Redeemable convertible preferred stock warrants Prior to the IPO, freestanding warrants to purchase shares of the Company’s redeemable convertible preferred stock were accounted for as liabilities on the consolidated balance sheets at their estimated fair value because the shares underlying the warrants contain contingent redemption features outside the Company’s control. Fair value was measured using the Black-Scholes option-pricing model. Changes in fair value of the warrants were recorded in general and administrative expenses in the consolidated statements of operations. Upon completion of the IPO, the Company’s redeemable convertible preferred stock warrants were converted into common stock warrants and the associated redeemable convertible preferred stock warrant liabilities were re-measured to their fair value of $1.4 million and reclassified to additional paid-in capital. Revenue recognition Subscription and Transaction Fees The Company enters into contracts with SMB and accounting firm customers to provide access to the functionality of the Company’s cloud-based payments platform to process transactions. These contracts are either cancelable arrangements paid monthly in arrears that can be terminated by either party without a penalty at any time or non-cancelable annual arrangements paid upfront. In July 2019, the Company updated its terms of service for cancelable contracts, whereby cancellations become effective at the end of the monthly subscription period in which the last transaction is processed. The Company charges its SMB and accounting firm customers subscription fees for access to its platform based on the number of users and level of service. The Company also charges these customers transaction fees based on actual transaction volume and the category of transaction. The contractual price for subscription and transaction activities is based on either the negotiated fees or the rates published on the Company’s website. The Company’s contracts with SMB and accounting firm customers are generally comprised of a single performance obligation to provide access to the functionality of the Company’s platform to process transactions. The Company accounts for open-ended cancelable contracts as a daily service. Subscription revenue for such contracts is recognized ratably over the period that the customers have access to the platform. Transaction revenue is recognized on the date the transactions are processed by the Company. The Company accounts for its annual and monthly contracts as a series of distinct services satisfied over time. The Company determines the transaction price for such contracts by estimating the total consideration to be received over the contract term from subscription and transaction fees. The Company recognizes the transaction price from annual contracts as a single performance obligation based on the proportion of transactions processed to the total estimated transactions to be processed over the contract period. Revenues recognized exclude amounts collected on behalf of third parties, such as sales taxes collected and remitted to governmental authorities. Arrangements with Financial Institutions The Company enters into multi-year contracts with financial institution customers that typically include fees for initial implementation services that are paid during the period the implementation services are provided as well as fees for subscription and transaction processing services, which are subject to guaranteed monthly minimum fees that are paid monthly over the contract term. These contracts enable the financial institutions to provide their customers with access to online bill pay services through the financial institutions’ online platforms. Implementation services are required up-front to establish an infrastructure that allows the financial institutions’ online platforms to communicate with the Company’s online platform. A financial institution’s customers cannot access online bill pay services until implementation is complete and the financial institution has provided acceptance of the implementation services. As such, initial implementation services and transaction processing services are not capable of being distinct from the subscription for online bill pay services and are combined into a single performance obligation. The consideration in these contracts varies based on the number of users and transactions processed. The Company has determined it meets the variable consideration allocation exception and therefore recognizes guaranteed monthly payments and any overages as revenue in the month they are earned. Implementation fees are recognized based on the proportion of transactions processed to the total estimated transactions to be processed over the contract period. The ability of the financial institution customers to renew their contracts without having to pay up-front implementation fees again provides them a material right. Material rights, which have not been significant to date, are treated as separate performance obligations and are recognized over the expected period of benefit. For such arrangements, the Company allocates revenue to each performance obligation based on its relative standalone selling price. Interest on Funds Held for Customers The Company also earns revenue from interest earned on funds held for customers that are initially deposited into the Company’s bank accounts that are separate from the Company’s operating cash accounts until remitted to the customers or their suppliers. The Company partially invests funds held for customers in highly liquid investments with maturities of three months or less and in marketable debt securities with maturities of three months to one year at the time of purchase. Interest and fees earned are recognized based on the effective interest method and also include the accretion of discounts and the amortization of premiums on marketable debt securities. Deferred revenue Subscription and transaction fees from customers for which the Company has annual or multi-year contracts are generally billed in advance. These fees are initially recorded as deferred revenue and subsequently recognized as revenue as the performance obligation is satisfied. Deferred costs Deferred costs consist of (i) deferred sales commissions that are incremental costs of obtaining customer contracts and (ii) deferred service costs, primarily direct payroll costs, for implementation services provided to customers prior to the launching of the Company’s products for general availability (go-live) to customers. Sales commissions paid on renewals are not material and not commensurate with sales commissions paid on the initial contract. Deferred sales commissions are amortized ratably over four to six years, taking into consideration the initial contract term and expected renewal periods. Deferred service costs are amortized ratably over the estimated benefit period of the capitalized costs starting on the go-live date of the service. Cost of revenue Cost of revenue consists primarily of personnel-related costs, including stock-based compensation expenses, for the Company’s customer success and payment operations teams, certain costs that are directly attributed to processing customers’ transactions (such as the cost of printing checks, postage for mailing checks, and expenses for processing payments), direct and amortized costs for implementing and integrating the Company’s platform into the customers’ systems, costs for maintaining, optimizing, and securing the Company’s cloud payments infrastructure, amortization of capitalized internal-use software, fees on the investment of customer funds, and allocation of overhead costs. Research and development Costs incurred in research and development, excluding development costs eligible for capitalization as internal-use software, are expensed as incurred. Stock-based compensation The Company measures stock-based compensation for stock options and purchase rights issued under the Employee Stock Purchase Plan (ESPP) at fair value on the date of grant using the Black-Scholes option-pricing model. The Company measures stock-based compensation for restricted stock units (RSUs) based on the fair market value of the Company’s stock on the date of grant. The Company recognizes compensation costs on a straight-line basis over the requisite service period, which is generally the vesting term of four years for stock options and RSUs, and the offering period of one year for purchase rights under the ESPP. Stock compensation costs are reduced by the estimated forfeitures at the date of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company estimates the forfeiture rate based on its historical experience for annual grant years where the majority of the vesting terms have been satisfied. Advertising The Company expenses the costs of advertising, including promotional expenses, as incurred. Advertising expenses during the years ended June 30, 2020, 2019 and 2018 were $5.8 million, $3.7 million and $0.8 million, respectively. Income taxes The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities and net operating loss (NOL) and tax credit carryforwards. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. The Company accounts for uncertainty in income taxes using a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. The Company classifies any liabilities for unrecognized tax benefits as current to the extent that the Company anticipates payment (or receipt) of cash within one year. Interest and penalties related to uncertain tax positions are recognized in the provision for income taxes. Net loss per share attributable to common stockholders Basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, without consideration of potentially dilutive securities. Diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable to common stockholders for all periods presented since the effect of potentially dilutive securities is anti-dilutive given the net loss of the Company. New accounting pronouncements: Adopted In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash Year ended June 30, 2019 As previously reported ASU No. 2016-18 adjustments As adjusted Net cash used in operating activities $ (3,949 ) $ — $ (3,949 ) Net cash used in investing activities (419,801 ) 323,695 (96,106 ) Net cash provided by financing activities 491,655 — 491,655 Net increase in cash, cash equivalents, restricted cash, and restricted cash equivalents 67,905 323,695 391,600 Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of period 22,401 569,167 591,568 Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of period $ 90,306 $ 892,862 $ 983,168 Year ended June 30, 2018 As previously reported ASU No. 2016-18 adjustments As adjusted Net cash used in operating activities $ (8,356 ) $ — $ (8,356 ) Net cash used in investing activities (335,421 ) (82,401 ) (417,822 ) Net cash provided by financing activities 326,282 — 326,282 Net decrease in cash, cash equivalents, restricted cash, and restricted cash equivalents (17,495 ) (82,401 ) (99,896 ) Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of period 39,896 651,568 691,464 Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of period $ 22,401 $ 569,167 $ 591,568 In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, Not Yet Adopted In November 2019, the FASB Issued ASU 2019-08, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement In June 2018, the FASB Issued ASU 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815) and Leases (Topic 842) Effective Dates. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which requires lessees to recognize leases on-balance sheet and disclose key information about leasing arrangements. Topic 842 was subsequently amended by ASU 2018-10, Codification Improvements to Topic 842, Leases, ASU 2018-11, Leases (Topic 842): Targeted Improvements , and ASU No. 2019-10 , Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815) and Leases (Topic 842) Effective Dates. The new standard establishes a right-of-use model that requires a lessee to recognize a right-of-use (ROU) asset and lease liability on the balance sheet for all leases with a term longer than 12 months. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the income statement. As an emerging growth company, ASU 2016-02 may be adopted by the Company effective in fiscal years beginning after December 15, 2020, and interim periods within annual periods beginning after December 15, 2021 ; however, e arly adoption is permitted. The Company is planning to adopt this ASU beginning July 1, 2020. The effect of adopting this ASU is expected to be material to the Company’s consolidated financial statements because the Company has significant long-term lease agreements .

Revenue, Performance Obligation

Revenue, Performance Obligations, Deferred Revenue and Deferred Costs	12 Months Ended
	Jun. 30, 2020
Revenue From Contract With Customer [Abstract]
Revenue, Performance Obligations, Deferred Revenue and Deferred Costs	NOTE 2 – Revenue, Performance Obligations, Deferred Revenue and Deferred Costs The Company generates revenue from two primary sources: (1) subscription and transaction fees and (2) interest on funds held for customers. The Company’s customers include small and midsize businesses (SMB), accounting firms and financial institutions. The Company’s subscription and transaction fees are disaggregated by customer category and consisted of the following (in thousands): Year ended June 30, 2020 2019 2018 Small-to-midsize business and accounting firm customers $ 126,035 $ 76,292 $ 50,138 Financial institution customers 10,370 9,659 6,854 Total subscription and transaction fees $ 136,405 $ 85,951 $ 56,992 Remaining performance obligations with financial institutions As of June 30, 2020, the aggregate amount of transaction price allocated to performance obligations that are unsatisfied (or partially unsatisfied) was $152.3 million. Of this amount, the Company expects to recognize $13.0 million within one year and $139.3 million thereafter Deferred revenue Subscription and transaction fees from customers with which the Company has annual or multi-year contracts are generally billed in advance. These fees are initially recorded as deferred revenue and subsequently recognized as revenue as the performance obligation is satisfied. Deferred revenue is shown as current or non-current in the consolidated balance sheets. Fees for monthly subscription and transaction fees are billed in arrears on a monthly basis. During the year ended June 30, 2020, the Company recognized $5.6 million of revenue that was included in the deferred revenue balance as of June 30, 2019. Deferred costs Deferred costs consisted of the following as of the dates presented (in thousands): June 30, 2020 2019 Deferred sales commissions: Current $ 2,829 $ 1,674 Non-current 5,613 3,069 Total deferred sales commissions $ 8,442 $ 4,743 Deferred service costs: Current $ 618 $ 755 Non-current 4,474 2,173 Total deferred service costs $ 5,092 $ 2,928 The current portion of deferred costs is included in prepaid expenses and other current assets and the non-current portion is included in other assets in the accompanying consolidated balance sheets. The amortization of deferred sales commissions was $2.3 million, $1.4 million and $1.0 million during the years ended June 30, 2020, 2019 and 2018, respectively. The amortization of deferred service costs was $0.4 million, $1.1 million and $0.4 million during the years ended June 30, 2020, 2019 and 2018, respectively.

Fair Value Measurement

Fair Value Measurement	12 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurement	NOTE 3 – FAIR VALUE MEASUREMENT The Company measures and reports its cash equivalents, short-term investments, funds held for customers that are invested in money market funds and marketable debt securities, and redeemable convertible preferred stock warrant liabilities at estimated fair value. Fair value is defined as the exchange price that would be received for an asset or an exit price paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy defines a three-level valuation hierarchy for disclosure of fair value measurements as follows: Level 1 – Inputs are unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 – Inputs other than quoted prices included within Level 1 that are observable, unadjusted quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities. Level 3 – Unobservable inputs that are supported by little or no market activity for the related assets or liabilities and typically reflect management’s estimate of assumptions that market participants would use in pricing the assets or liabilities. In determining fair value, the Company utilizes quoted market prices, or valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, and also considers counterparty credit risk in its assessment of fair value. The following tables set forth the fair value of assets and liabilities that were measured at fair value on a recurring basis based on the three-tier fair value hierarchy as of the dates presented (in thousands): June 30, 2020 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 20,075 $ — $ — $ 20,075 Short-term investments: U.S. treasury securities 28,368 — — 28,368 Corporate bonds — 71,131 — 71,131 Asset-backed securities — 24,475 — 24,475 28,368 95,606 — 123,974 Funds held for customers: Restricted cash equivalents 357,350 76,359 — 433,709 Corporate bonds — 493,879 — 493,879 Certificates of deposit — 85,953 — 85,953 U.S. treasury securities 48,952 — — 48,952 406,302 656,191 — 1,062,493 Total assets measured at fair value $ 454,745 $ 751,797 $ — $ 1,206,542 June 30, 2019 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 13,718 $ — $ — $ 13,718 Short-term investments: U.S. treasury securities 64,758 — — 64,758 Corporate bonds — 4,787 — 4,787 Asset-backed securities — 2,424 — 2,424 64,758 7,211 — 71,969 Funds held for customers: Restricted cash equivalents 424,219 — — 424,219 Corporate bonds — 302,070 — 302,070 Certificates of deposit — 105,377 — 105,377 U.S. treasury securities 30,960 — — 30,960 455,179 407,447 — 862,626 Total assets measured at fair value $ 533,655 $ 414,658 $ — $ 948,313 Liabilities Redeemable convertible preferred stock warrant liabilities $ — $ — $ 688 $ 688 Total liabilities measured at fair value $ — $ — $ 688 $ 688 There were no transfers of financial instruments between Level 1, Level 2, and Level 3 during the periods presented. The fair values of the Company’s Level 1 instruments were derived from quoted market prices and active markets for these specific instruments. The valuation techniques used to measure the fair values of Level 2 instruments were derived from non-binding market consensus prices that were corroborated with observable market data, quoted market prices for similar instruments, or pricing models. The fair value measurement of the redeemable convertible preferred stock warrant liabilities as of June 30, 2019 was based on significant inputs not observed in the market and thus represents a Level 3 measurement. The Company estimated the fair value of the liability using the Black-Scholes option-pricing model and any change in fair value is recognized as either gain or loss and included in other income, net in the accompanying consolidated statements of operations. Immediately upon the completion of the Company’s IPO, all warrants to purchase shares of redeemable convertible preferred stock were converted into warrants to purchase shares of common stock. As a result, the fair value of the redeemable convertible preferred stock warrant liabilities was reclassified to additional paid-in capital. The table below sets forth a summary of the changes in the fair value of Level 3 financial liabilities as of and for the periods presented (in thousands): June 30, 2020 2019 Fair value, beginning of year $ 688 $ 663 Change in fair value 717 319 Reclassification to additional paid-in capital (1,405 ) — Forfeiture of warrants — (294 ) Fair value, end of year $ — $ 688

Short-Term Investments

Short-Term Investments	12 Months Ended
	Jun. 30, 2020
Investments Debt And Equity Securities [Abstract]
Short-Term Investments	NOTE 4 – SHORT-TERM INVESTMENTS Short-term investments consisted of the following (in thousands): June 30, 2020 Amortized cost Gross unrealized gains Gross unrealized losses Fair value U.S. treasury securities $ 28,281 $ 88 $ (1 ) $ 28,368 Corporate bonds 70,781 360 (10 ) 71,131 Asset-backed securities 24,333 142 — 24,475 $ 123,395 $ 590 $ (11 ) $ 123,974 June 30, 2019 Amortized cost Gross unrealized gains Fair value U.S. treasury securities $ 64,683 $ 75 $ 64,758 Corporate bonds 4,787 — 4,787 Asset-backed securities 2,424 — 2,424 $ 71,894 $ 75 $ 71,969 The amortized cost and fair value amounts include accrued interest receivable of $0.5 million and $0.2 million at June 30, 2020 and 2019, respectively. As of June 30, 2020, approximately 83% and 17% of the Company’s investments in marketable debt securities mature within one year and after one year through two years, respectively. As of June 30, 2019, 100% of the Company’s investments in marketable debt securities matured within one year. The following table presents gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2020 (in thousands): June 30, 2020 Fair value Unrealized losses U.S. treasury securities $ 2,798 $ (1 ) Corporate bonds 9,258 (10 ) Total $ 12,056 $ (11 ) Investments with unrealized losses have been in a continuous unrealized loss position for less than 12 months. The Company does not intend to sell the investments and it is not likely that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be at maturity. Therefore, the Company does not consider those unrealized investment losses as other-than-temporary impairment of the investments. There have been no significant realized gains or losses on the short-term investments during the years ended June 30, 2020, 2019 and 2018.

Funds Held for Customers

Funds Held for Customers	12 Months Ended
	Jun. 30, 2020
Investments Debt And Equity Securities [Abstract]
Funds Held for Customers	NOTE 5 – FUNDS HELD FOR CUSTOMERS Funds held for customers consisted of the following (in thousands): June 30, 2020 2019 Restricted cash and other receivables $ 586,893 $ 470,971 Restricted cash equivalents 433,709 424,219 Corporate bonds 493,879 302,070 Certificates of deposit 85,953 105,377 U.S. treasury securities 48,952 30,960 Total funds held for customers 1,649,386 1,333,597 Less - income earned by the Company included in other current assets (5,136 ) (4,291 ) Total funds held for customers, net of income earned by the Company $ 1,644,250 $ 1,329,306 Income earned by the Company that is included in other current assets represents interest income, accretion of discount (offset by amortization of premium), and net unrealized gains on customer funds that were invested in money market funds and short-term marketable debt securities. Earnings from these investments are contractually earned by the Company and are expected to be transferred into the Company’s corporate deposit account upon sale or settlement of the associated investment. Below is a summary of the fair value of funds held for customers that were invested in short-term marketable debt securities (in thousands): June 30, 2020 Amortized cost Gross unrealized gains Gross unrealized losses Fair value Corporate bonds $ 491,950 $ 1,936 $ (7 ) $ 493,879 Certificates of deposit 85,841 115 (3 ) 85,953 U.S. treasury securities 48,949 4 (1 ) 48,952 Total $ 626,740 $ 2,055 $ (11 ) $ 628,784 June 30, 2019 Amortized cost Gross unrealized gains Gross unrealized losses Fair value Corporate bonds $ 301,755 $ 327 $ (12 ) $ 302,070 Certificates of deposit 105,297 81 (1 ) 105,377 U.S. treasury securities 30,927 33 — 30,960 Total $ 437,979 $ 441 $ (13 ) $ 438,407 The amortized cost and estimated fair value amounts include accrued interest receivable of $2.9 million and $1.9 million at June 30, 2020 and 2019, respectively. As of June 30, 2020 and 2019, 100% of the Company’s funds held for customers that were invested in short-term marketable debt securities mature within one year. The following tables present gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2020 and 2019 (in thousands): June 30, 2020 Fair value Unrealized losses Corporate bonds $ 31,785 $ (7 ) Certificates of deposit 20,006 (3 ) U.S. treasury securities 14,990 (1 ) Total $ 66,781 $ (11 ) June 30, 2019 Fair value Unrealized losses Corporate bonds $ 46,065 $ (12 ) Certificates of deposit 12,027 (1 ) Total $ 58,092 $ (13 ) Investments with unrealized losses have been in a continuous unrealized loss position for less than 12 months. The Company does not intend to sell the investments and it is not likely that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be at maturity. Therefore, the Company does not consider those unrealized investment losses as other-than-temporary impairment of the investments. There have been no significant realized gains or losses on the short-term investments during the years ended June 30, 2020, 2019 and 2018.

Significant Balance Sheet Compo

Significant Balance Sheet Components	12 Months Ended
	Jun. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Significant Balance Sheet Components	NOTE 6 – SIGNIFICANT BALANCE SHEET COMPONENTS Property and equipment – Property and equipment consisted of the following (in thousands): June 30, 2020 2019 Computers, software and equipment $ 11,262 $ 10,341 Capitalized software 4,026 3,387 Furniture and fixtures 3,116 1,859 Leasehold improvements 9,257 2,435 Property and equipment, gross 27,661 18,022 Less: accumulated depreciation and amortization (13,795 ) (11,465 ) Property and equipment, net $ 13,866 $ 6,557 Depreciation and amortization expense during the years ended June 30, 2020, 2019 and 2018 was $4.3 million, $3.2 million and $2.3 million, respectively. Other accrued and current liabilities – Other accrued and current liabilities consisted of the following (in thousands): June 30, 2020 2019 Accrued sales and use tax $ 2,976 $ 2,881 Deferred rent and lease incentives 1,107 494 Accrued license fees 473 131 Non-sufficient funds reserve 260 147 Current portion of a long-term payable for a purchase of software 613 512 Other 3,112 2,391 Total $ 8,541 $ 6,556

Bank Borrowings

Bank Borrowings	12 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Bank Borrowings	NOTE 7 – BANK BORROWINGS Senior Secured Credit Facilities On June 28, 2019, the Company entered into a Senior Secured Credit Facilities Credit Agreement (Senior Facilities Agreement) with Silicon Valley Bank for a revolving credit facility of up to $50.0 million (Total Commitment), which amount may be increased by up to $25.0 million upon request and subject to conditions. On August 15, 2019, Silicon Valley Bank assigned $20.0 million of the Total Commitment to JPMorgan Chase Bank. Under the Senior Facilities Agreement, Bill.com, LLC is the borrower and Bill.com Holdings, Inc. is the guarantor. The Senior Facilities Agreement expires on June 28, 2022. Concurrent with the closing of the Senior Facilities Agreement on June 28, 2019, the Amended and Restated Loan and Security Agreement entered into in October 2017 with Silicon Valley Bank was terminated. Borrowings under the Senior Facilities Agreement are subject to a borrowing base. In addition, borrowings under the Senior Facilities Agreement are subject to interest at a rate per annum determined as follows: (a) Eurodollar loans shall bear interest at a rate per annum equal to the Eurodollar rate, plus the applicable margin of 1.75% or 2.75% depending on the Company’s cash balance (Eurodollar rate is calculated based on the ratio of Eurodollar Base Rate, which is determined by reference to ICE Benchmark Administration London Interbank Offered Rate over the Eurocurrency Reserve Requirements, but not less than 0%), or (b) Alternate Base Rate (ABR) loans shall bear interest at a rate per annum equal to the ABR, minus the applicable margin of 0.25% or 1.25%, depending on the Company’s cash balance (ABR is equal to the highest of the (i) prime rate, (ii) Federal Funds effective rate plus 0.50%, and (iii) Eurodollar rate plus 1.25%). The Senior Facilities Agreement requires the Company to comply with certain restricted covenants. As of June 30, 2020 and 2019, the Company was in compliance with the loan covenants. Borrowings under the Senior Facilities are secured by substantially all of the Company’s assets, and are fully and unconditionally guaranteed by Bill.com Holdings, Inc. Available funds under the Company’s Senior Facilities Agreement, after deducting the line of credit borrowings of $2.3 million and letter of credit utilization totaling $6.9 million, was $40.8 million as of June 30, 2020. The interest rate on the line of credit borrowings was 2.0% per annum as of June 30, 2020.

Redeemable Convertible Preferre

Redeemable Convertible Preferred Stock	12 Months Ended
	Jun. 30, 2020
Temporary Equity [Abstract]
Redeemable Convertible Preferred Stock	NOTE 8 – REDEEMABLE CONVERTIBLE PREFERRED STOCK Upon the completion of the IPO, all shares of the Company’s outstanding redeemable convertible preferred stock were converted into 52,434,505 shares of common stock and the carrying value, totaling $276.3 million, was reclassified to common stock and additional paid-in capital. At June 30, 2019, redeemable convertible preferred stock consisted of the following (in thousands): Shares authorized Shares issued and outstanding Liquidation preference Gross proceeds Series A 5,400 2,700 $ 2,106 $ 2,106 Series B 21,733 10,815 15,790 15,790 Series C 9,197 4,599 8,500 8,500 Series D 12,425 6,200 15,500 15,500 Series E 17,512 8,756 35,200 35,200 Series E-1 1,393 697 2,800 2,800 Series F 9,756 4,878 29,750 29,750 Series F-1 82 41 250 250 Series G 16,892 8,446 82,500 82,500 Series H 11,700 5,303 88,117 88,117 Total 106,090 52,435 $ 280,513 $ 280,513

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Stockholders' Equity	NOTE 9 – STOCKHOLDERS’ EQUITY Equity Incentive Plans On November 26, 2019 , the Company’s board of directors approved the 2019 Equity Incentive Plan (2019 Plan), which became effective on December 10, 2019, the date The Company’s 2016 Equity Incentive Plan (2016 Plan), which was adopted in February 2016, was terminated concurrent to the effective date of the 2019 Plan. The Company’s 2006 Equity Incentive Plan (2006 Plan), which was adopted in April 2006, was terminated upon the adoption of the 2016 Plan. There were no equity-based awards granted under the 2016 Plan and the 2006 Plan after their termination; however, all outstanding awards under the 2016 Plan and the 2006 Plan continue to remain subject to the terms of the respective Equity Incentive Plan until such awards are exercised or until they terminate or expire by their terms. The 2019 Plan, 2016 Plan and 2006 Plan are collectively referred to as the “Equity Incentive Plans.” The 2019 Plan authorizes the award of stock options, restricted stock units (RSUs), restricted stock awards, stock appreciation rights, performance awards, cash awards, and stock bonus awards. The Company initially reserved 7,100,000 shares of its common stock, plus any reserved shares not issued or subject to outstanding grants under the 2016 Plan, for issuance pursuant to awards granted under our 2019 Plan. The number of shares reserved for issuance under the 2019 Plan increases automatically on July 1 of each of 2020 through 2029 by the number of shares equal to the lesser of 5% of the total number of outstanding shares of the Company’s common stock as of the immediately preceding June 30, or a number as may be determined by the Company’s board of directors. In addition, the following shares of common stock from the 2016 Plan and the 2006 Plan will be available for grant and issuance under the 2019 Plan: • shares issuable upon the exercise of options or subject to other awards under the 2016 Plan or 2006 Plan that cease to be subject to such options or other awards by forfeiture or after the effective date of the 2019 Plan; and • shares issued pursuant to outstanding awards under our 2016 Plan and 2006 Plan that are forfeited or repurchased after the effective date of the 2019 Plan. The total number of common shares available for issuance under the Equity Incentive Plans was 6,187,598, 11,370,068, and 6,337,779 shares as of June 30, 2020, 2019 and 2018, respectively. Stock Options The Company may grant incentive and non-statutory stock options to employees, nonemployee directors, and consultants of the Company under the Equity Incentive Plans. Stock options granted generally vest and become exercisable ratably over a requisite service period of four years following the date of the grant and expire ten years from the date of the grant. The Company may grant stock options with early exercise provisions, but subject to repurchase conditions. There were no outstanding unvested stock options that had been early exercised as of June 30, 2020. The total number of outstanding unvested shares that had been early exercised as of June 30, 2019 was not significant. The Company may also grant stock options with double-trigger vesting conditions. The unvested shares of options granted with double trigger vesting conditions will vest 50% in the event of a sale of the Company and the termination of the holder of the stock options. The exercise price of incentive stock options granted must be at least equal to 100% of the fair value of the Company’s common stock at the date of grant. The exercise price of non-statutory options granted must be at least equal to 85% of the fair value of the Company’s common stock at the date of grant. A summary of stock option activity as of June 30, 2020, and changes during the year ended June 30, 2020, is presented below: Number of shares (in thousands) Weighted average exercise price per share Weighted average remaining contractual term (in years) Aggregate intrinsic value (in thousands) Outstanding at June 30, 2019 10,027 $ 5.90 8.37 $ 75,223 Granted 2,937 $ 18.78 Exercised (3,291 ) $ 4.09 Cancelled / forfeited / expired (654 ) $ 8.83 Outstanding at June 30, 2020 9,019 $ 10.53 8.26 $ 718,563 Vested and expected to vest at June 30, 2020 (1) 8,135 $ 10.34 8.21 $ 649,756 Vested and exercisable at June 30, 2020 2,584 $ 6.23 7.12 $ 217,024 (1) The weighted-average grant date fair value of options granted during the years ended June 30, 2020, 2019 and 2018 was $11.04, $4.24 and $2.02 per share, respectively. The total intrinsic value of options exercised during the years ended June 30, 2020, 2019 and 2018 was $191.3 million, $3.8 million and $0.7 million, respectively. The intrinsic value was calculated as the difference between the estimated fair value of the Company’s common stock at exercise and the exercise price of the in-the-money options. The fair value of options granted during the years ended June 30, 2020, 2019 and 2018 was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions: Year ended June 30, 2020 2019 2018 Expected term (in years) 6.25 6.25 6.25 Expected volatility 50.0% to 100.6% 46.0% to 51.0% 45.0% to 55.1% Risk-free interest rate 0.35% to 1.88% 2.19% to 2.89% 2.05% to 2.89% Expected dividend yield 0% 0% 0% Prior to the IPO, the fair value of the shares of common stock underlying stock options had historically been determined by the Company’s Board of Directors. Because there had been no public market for the Company’s common stock, the Board of Directors determined fair value of the common stock at the time of grant of the option by considering a number of objective and subjective factors including important developments in the Company’s operations, valuations performed by an independent third party, sales of preferred stock, actual operating results and financial performance, the conditions in the industry and the economy in general, the stock price performance and volatility of comparable public companies, and the lack of liquidity of the Company’s common stock, among other factors. The Black-Scholes option-pricing model requires the use of highly subjective assumptions which determine the fair value of stock-based awards. These assumptions include: Expected term – The expected term represents the period that stock-based awards are expected to be outstanding. The expected term for option grants is determined using the simplified method. The simplified method deems the term to be the average of the time-to-vesting and the contractual life of the stock-based awards. Expected volatility – Since the Company did not have any trading history for its common stock prior to the IPO, the expected volatility was estimated based on the average volatility for comparable publicly traded companies over a period equal to the expected term of the stock option grants. The comparable companies were chosen based on their similar size, stage in the life cycle or area of specialty. Following the IPO, the expected volatility was estimated based on the historical volatility of the Company’s common stock. Risk-free interest rate – The risk-free interest rate is based on the U.S. Treasury zero coupon issues in effect at the time of grant for periods corresponding with the expected term of option. Expected dividend yield – The Company has never paid dividends on its common stock and has no plans to pay dividends on its common stock. Therefore, the Company used an expected dividend yield of zero. As of June 30, 2020, the total unamortized stock-based compensation cost related to the unvested stock options was $40.4 million, which the Company expects to amortize over a weighted-average period of 2.9 years. The Company received $12.2 million, $1.7 million and $0.7 million from options exercised during the years ended June 30, 2020, 2019 and 2018, respectively. Restricted Stock Units In February 2020, the Company began issuing RSUs to certain employees and nonemployee board members under the 2019 Plan. A summary of RSU activity during the year ended June 30, 2020 is presented below: Number of shares (in thousands) Weighted average grant date fair value Nonvested at June 30, 2019 — $ — Granted 1,153 $ 66.11 Vested (8 ) $ 62.78 Cancelled / forfeited / expired (4 ) $ 58.83 Nonvested at June 30, 2020 1,141 $ 66.16 The fair value of the RSU grant is determined based upon the market closing price of the Company’s common stock on the date of grant. The RSUs vest over the requisite service period, which ranges between 1 year and 4 years from the date of grant, subject to the continued employment of the employees and services of the nonemployee board members. The total fair value of RSUs vested during the year ended June 30, 2020 was $0.2 million. As of June 30, 2020, the total unamortized stock-based compensation expense related to the unvested RSUs was $55.2 million, which the Company expects to amortize over a weighted-average period of 3.8 years. 2019 Employee Stock Purchase Plan On November 26, 2019, the Company’s board of directors approved the 2019 Employee Stock Purchase Plan (ESPP), which became effective on December 11, 2019, the date the Company’s Registration Statement on Form S-1 was declared effective by the SEC. The ESPP is intended to qualify under Section 423 of the Internal Revenue Code of 1986 (as amended) and will provide eligible employees a means to acquire shares of common stock through payroll deductions. Under the ESPP, the Company initially reserved for issuance 1,400,000 shares of common stock, which will increase automatically on July 1 of each fiscal year during the term of the ESPP by the number of shares equal to 1% of the total number of shares of common stock and preferred stock (on as-converted basis) outstanding as of the immediately preceding June 30th, unless the board of directors elects to authorize a lesser number of shares; provided, that, the total number of shares issued under the ESPP may not exceed 14,000,000 shares of common stock. The ESPP provides for consecutive offering periods during which eligible employees can participate in the ESPP and be granted the right to purchase shares. The first business day of each offering period is the offering date. No offering period may last more than 27 months. Each offering period is comprised of two six-month purchase periods. The initial offering period of the ESPP started on December 11, 2019, which is the effective date of the ESPP, and will end on February 14, 2021, with two purchase periods on August 14, 2020 and February 14, 2021. Thereafter, a new 12-month offering period will commence on each subsequent February 15th and August 15th, with each such offering period consisting of two separate 6-month purchase periods ending on August 14th and February 14th, respectively. Eligible employees can contribute up to 15% of their eligible compensation, subject to limitation as provided for in the ESPP, and purchase the common stock at a purchase price per share equal to 85% of the lesser of the fair market value of the common stock on (i) the offering date or (ii) the purchase date. The fair value of ESPP offerings was estimated at the date of each offering using the Black-Scholes option-pricing model with the following assumptions during the year ended June 30, 2020: Expected term (in years) 0.5 to 1.17 Expected volatility 50.0 % Risk-free interest rate 1.47% to 1.56% Expected dividend yield 0 % As of June 30, 2020, the total unrecognized compensation expense related to the ESPP was $1.5 million, which is expected to be amortized over the next 12 months. Stock Based Compensation Expense Stock-based compensation expense from stock options, RSUs and ESPP was included in the following line items in the accompanying consolidated statements of operations during the periods presented (in thousands): Year ended June 30, 2020 2019 2018 Cost of revenue $ 1,257 $ 331 $ 78 Research and development 5,495 1,128 429 Sales and marketing 2,777 922 508 General and administrative 8,535 1,701 530 Total $ 18,064 $ 4,082 $ 1,545 Stock Warrants As of June 30, 2020, there were no stock warrants outstanding. As of June 30, 2019 the following warrants were issued and outstanding (in thousands except per share amounts): Number of warrants issued and outstanding Weighted average exercise price Expiration date Series B redeemable convertible preferred stock warrants 51 $ 1.46 January 2020 Series D redeemable convertible preferred stock warrants 12 $ 2.50 May 2020 Common stock warrants 63 $ 6.40 April 2024 Total 126 Immediately upon the completion of the Company’s IPO, all warrants to purchase shares of redeemable convertible preferred stock were converted into warrants to purchase shares of common stock. The outstanding redeemable convertible preferred stock warrant liabilities as of June 30, 2019 and 2018 were re-measured to fair value using the Black-Scholes option-pricing model. The key inputs used in the valuation were as follows: June 30, 2019 2018 Expected term (in years) 0.58 1.04 Expected volatility 51.0 % 46.0 % Risk-free interest rate 2.0 % 2.3 % Expected dividend yield 0 % 0 % The Company has an agreement with a customer to issue warrants for up to 5.6 million shares of the Company’s common stock at an exercise price of $4.50 per share over a period of five years, ending in September 2023. Issuance of the warrants is contingent upon certain performance conditions and subject to certain limits. As of June 30, 2020, there were no warrants issued or issuable under this agreement. The Company has concluded that the performance conditions for the issuance of this warrant are not probable of being met.

Other Income, Net

Other Income, Net	12 Months Ended
	Jun. 30, 2020
Other Income Disclosure Nonoperating [Abstract]
Other Income, Net	NOTE 10 – OTHER INCOME, NET Other income, net consisted of the following for the periods presented (in thousands): Year ended June 30, 2020 2019 2018 Interest income $ 4,092 $ 3,207 $ 1,058 Interest expense (229 ) (825 ) (427 ) Revaluation of warrant liabilities and forfeiture of warrants (717 ) — — Other 14 (49 ) 1 Total $ 3,160 $ 2,333 $ 632

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 11 – INCOME TAXES The components of loss before the provision for (benefit from) income taxes were as follows (in thousands): Year ended June 30, 2020 2019 2018 Domestic $ (31,038 ) $ (7,470 ) $ (7,185 ) Foreign — — — Total $ (31,038 ) $ (7,470 ) $ (7,185 ) The components of provision for (benefit from) income taxes were as follows (in thousands): Year ended June 30, 2020 2019 2018 Current: Federal $ — $ — $ — State 53 20 10 Foreign — — — Total current 53 20 10 Deferred: — — — Federal — (142 ) — State — (34 ) — Foreign — — — Total current — (176 ) — Provision for (benefit from) income taxes $ 53 $ (156 ) $ 10 The items accounting for the difference between the income taxes computed at the federal statutory rate and the provision for (benefit from) income taxes consisted of the following (in thousands): Year ended June 30, 2020 2019 2018 Expected benefit at U.S. federal statutory rate $ (6,518 ) $ (1,569 ) $ (1,976 ) Stock-based compensation (31,047 ) 390 297 Federal and state R&D credits, net of unrecognized benefit (6,411 ) (2,111 ) (909 ) Deferred tax asset re-measurement due to Tax Reform — — 12,227 Change in valuation allowance 43,716 3,029 (9,753 ) Other 313 105 124 Provision for (benefit from) income taxes $ 53 $ (156 ) $ 10 The components of deferred tax assets and liabilities were as follows as of June 30, 2020 and 2019 (in thousands): June 30, 2020 2019 Deferred tax assets: Accruals and reserves $ 3,933 $ 1,631 Deferred revenue 904 84 Property and equipment 128 — Stock-based compensation 2,542 700 Net operating loss carryforwards 68,694 26,690 Research and development credits 12,226 5,649 Total deferred tax assets before valuation allowance 88,427 34,754 Valuation allowance (85,569 ) (33,253 ) Deferred tax assets $ 2,858 $ 1,501 Deferred tax liabilities: Deferred contract costs $ (2,182 ) $ (1,229 ) Property and equipment — (143 ) Other (676 ) (129 ) Total deferred tax liabilities $ (2,858 ) $ (1,501 ) Net deferred tax assets (liabilities) $ — $ — ASC 740 requires that the tax benefit of net operating losses, temporary differences, and credit carryforwards be recorded as an asset to the extent that management assesses that realization is “more likely than not.” Realization of the future tax benefits is dependent on the Company’s ability to generate sufficient taxable income within the carryforward period. Because of the Company’s recent history of operating losses, management believes that recognition of the deferred tax assets arising from the above-mentioned future tax benefits is currently not likely to be realized and, accordingly, has provided a valuation allowance. The change in valuation allowance was approximately $52.3 million, $3.7 million and $10.0 million during the years ended June 30, 2020, 2019 and 2018, respectively, including a decrease in valuation allowance of $0.7 million related to the adoption of ASC 606 during the year ended June 30, 2018. As of June 30, 2020, the Company had net operating loss (NOL) carryforwards of $265.8 million and $203.5 million for federal and state tax purposes, respectively, that are available to reduce future taxable income. If not utilized, the federal and state NOL carryforwards will begin to expire in 2026. As of June 30, 2020, approximately $166.0 million of federal NOL carryforwards do not expire and will carry forward indefinitely until utilized. As of June 30, 2020, the Company also had research and development tax credit carryforwards of approximately $10.6 million and $8.7 million for federal and state tax purposes, respectively. If not utilized, the federal tax credits will expire at various dates beginning in 2027. The state tax credits do not expire and will carry forward indefinitely until utilized. Utilization of the net operating loss and tax credit carryforwards may be subject to a substantial annual limitation due to the ownership change limitations provided by the Internal Revenue Code and other similar state provisions. The annual limitation may result in the expiration of net operating losses and tax credits before utilization. As of June 30, 2020 and 2019, the Company had $5.8 million and $2.7 million, respectively, of unrecognized tax benefits related to federal and California R&D credits. Below is the reconciliation of the unrecognized tax benefits as of the periods presented (in thousands): June 30, 2020 2019 2018 Balance at the beginning of the year $ 2,692 $ 1,457 $ 835 Additions based upon tax positions related to the current year 3,078 1,028 — Additions based upon tax positions related to the prior year 17 207 622 Balance at the end of the year $ 5,787 $ 2,692 $ 1,457 The Company files United States federal, California, and other various state income tax returns. All U.S. federal and state net operating losses and tax credits generated to date are subject to adjustments. The Company does not anticipate any material change to its unrecognized tax benefits over the next twelve months. The Company’s U.S. federal and state tax returns remain subject to examination by taxing authorities. The tax years from 2006 to 2019 remain open as a result of unused tax attributes being carried forward.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Jun. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 12 – COMMITMENTS AND CONTINGENCIES Operating leases – The Company leases office space under non-cancelable operating leases that expire through June 2031. Rent expense is recognized on a straight-line basis over the lease term. Rent expense, net of sublease income, was $5.3 million, $2.3 million and $1.5 million during the years ended June 30, 2020, 2019 and 2018, respectively Future minimum lease payments under non-cancelable operating leases as of June 30, 2020 are as follows (in thousands): Fiscal years ending June 30: Amount 2021 $ 1,192 2022 7,029 2023 7,244 2024 7,458 2025 7,504 Thereafter 46,607 Total $ 77,034 Other agreements – The Company has a ten-year In May 2020, the Company expanded its service agreement with an existing financial institution partner for a period of 5 years. Under this agreement, the Company agreed to pay this partner a total of $12.0 million, payable ratably over six months from June 2020, in order to fund the partner’s implementation activities before the payment services offering becomes available for its customers. As of June 30, 2020, the amount payable to this partner was $10.0 million. The Company purchased a software license and maintenance and support services from a vendor that are payable on an installment basis through August 2021 under a non-cancellable service agreement. Future payments under these other agreements as of June 30, 2020 are as follows (in thousands). Fiscal years ending June 30: Amount 2021 $ 13,000 2022 2,000 2023 2,000 2024 2,000 2025 2,000 Thereafter 3,500 Total $ 24,500 Litigation – From time to time, the Company is involved in lawsuits, claims, investigations, and proceedings that arise in the ordinary course of business. The Company records a provision for a liability when management believes that it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. As of June 30, 2020 and 2019, the Company’s reserve for litigation is immaterial. The Company reviews these provisions periodically and adjusts these provisions to reflect the impact of negotiations, settlements, rulings, advice of legal counsel, and other information and events pertaining to a particular case. Litigation is inherently unpredictable.

Net Loss Per Share Attributable

Net Loss Per Share Attributable To Common Stockholders	12 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Net Loss Per Share Attributable To Common Stockholders	NOTE 13 – NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS The following table presents the calculation of basic and diluted net loss per share attributable to common stockholders during the years ended June 30, 2020, 2019 and 2018 (in thousands, except per share amounts): Year ended June 30, 2020 2019 2018 Numerator: Net loss attributable to common stockholders $ (31,091 ) $ (7,314 ) $ (7,195 ) Denominator: Weighted-average shares used to compute net loss per share attributable to common stockholders Basic and diluted 44,106 7,797 7,155 Net loss per share attributable to common stockholders: Basic and diluted $ (0.70 ) $ (0.94 ) $ (1.01 ) Potentially dilutive securities, which were excluded from the diluted net loss per share calculations because they would have been antidilutive, are as follows (in thousands): June 30, 2020 2019 2018 Stock options 9,019 10,027 5,616 Restricted stock units 1,141 — — Warrants to purchase common stock — 63 — Convertible redeemable preferred stock — 52,435 47,131 Warrants to purchase redeemable convertible preferred stock — 63 115 Total 10,160 62,588 52,862

Quarterly Results of Operations

Quarterly Results of Operations (Unaudited)	12 Months Ended
	Jun. 30, 2020
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results of Operations (Unaudited)	NOTE 14 – Quarterly Results of Operations (Unaudited) The table below presents our unaudited consolidated statements of operations for each of the last eight quarters in the period ended June 30, 2020: Three months ended June 30, 2020 March 31, 2020 December 31, 2019 September 30, 2019 June 30, 2019 March 31, 2019 December 31, 2018 September 30, 2018 Revenue Subscription and transaction fees $ 38,801 $ 36,092 $ 32,964 $ 28,548 $ 25,225 $ 22,112 $ 20,444 $ 18,170 Interest on funds held for customers 3,309 5,138 6,116 6,632 6,459 6,132 5,555 4,254 Total revenue 42,110 41,230 39,080 35,180 31,684 28,244 25,999 22,424 Cost of revenue 10,100 10,110 9,787 9,147 8,488 7,914 7,175 6,341 Gross profit 32,010 31,120 29,293 26,033 23,196 20,330 18,824 16,083 Operating expenses Research and development 14,929 13,969 12,992 11,515 9,447 7,899 6,154 5,424 Sales and marketing 11,796 11,802 11,491 10,267 9,949 7,365 6,856 5,944 General and administrative 15,546 15,064 12,748 10,535 8,953 7,904 6,404 5,937 Total operating expenses 42,271 40,835 37,231 32,317 28,349 23,168 19,414 17,305 Loss from operations (10,261 ) (9,715 ) (7,938 ) (6,284 ) (5,153 ) (2,838 ) (590 ) (1,222 ) Other income, net 764 1,397 360 639 596 734 686 317 (Loss) income before provision for (benefit from) income taxes (9,497 ) (8,318 ) (7,578 ) (5,645 ) (4,557 ) (2,104 ) 96 (905 ) Provision for (benefit from) income taxes 1 1 — 51 (59 ) (70 ) (6 ) (21 ) Net (loss) income $ (9,498 ) $ (8,319 ) $ (7,578 ) $ (5,696 ) $ (4,498 ) $ (2,034 ) $ 102 $ (884 ) Net (loss) income per share attributable to common stockholders, basic and diluted $ (0.13 ) $ (0.11 ) $ (0.34 ) $ (0.69 ) $ (0.56 ) $ (0.26 ) $ — $ (0.12 )

The Company and Its Significa_2

The Company and Its Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Initial Public Offering and Follow-on Offering	Initial Public Offering and Follow-on Offering On December 16, 2019, the Company closed its initial public offering (IPO), in which it issued 11,297,058 shares of common stock at a public offering price of $22.00 per share, which included 1,473,529 shares of common stock issued pursuant to the exercise in full of the over-allotment option by the underwriters. On June 15, 2020, the Company closed a follow-on public offering in which it issued 4,330,000 shares of common stock at a public offering price of $74.25 per share, which included 1,080,000 shares of common stock issued pursuant to the exercise in full of the over-allotment option by the underwriters.
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and were prepared in conformity with U.S. generally accepted accounting principles (GAAP). Intercompany accounts and transactions have been eliminated.
Emerging Growth Company Status	Emerging Growth Company Status 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, these 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. The Company expects to use the extended transition period for any new or revised accounting standards during the period which the Company remains an emerging growth company.
Stock Split	Stock Split On November 27, 2019, the Company filed an amendment to its amended and restated certificate of incorporation to effect a reverse split of shares of the Company’s issued and outstanding redeemable convertible preferred stock, common stock and non-voting common stock on a 2-for-1 basis. The par value and authorized shares of the redeemable convertible preferred stock, common stock and non-voting common stock were not adjusted as a result of the reverse stock split. All references to the redeemable convertible preferred stock, common stock, non-voting common stock, options to purchase common stock, early exercised stock options, warrants to purchase redeemable convertible preferred stock, warrants to purchase common stock, per share amounts and related information contained in the consolidated financial statements have been retroactively adjusted to reflect the effect of the reverse stock split for all periods presented.
Segment Reporting	Segment Reporting The Company operates as one operating segment because its chief operating decision maker, who is the Chief Executive Officer, reviews its financial information on a consolidated basis for purposes of making decisions regarding allocating resources and assessing performance. All long-lived assets are located in the United States and all revenue is generated in the United States.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make various estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and the accompanying notes. Management regularly assesses these estimates, including those related to fair value of common stock prior to the Company’s IPO and stock-based compensation, fair value of redeemable convertible preferred stock warrant liabilities up until the date of the Company’s IPO, useful lives of property and equipment, the attribution method used to recognize revenue on annual contracts, variable consideration used in revenue recognition for certain financial institutions, reserve for sales tax obligations, reserve for losses on funds held for customers, and income taxes. The Company evaluates these estimates and assumptions and adjusts the estimates and assumptions accordingly. Actual results could differ from those estimates, and such differences may be material to the consolidated financial statements.
Funds held for customers and customer fund deposits	Funds held for customers and customer fund deposits Funds held for customers and the corresponding liability on customer fund deposits represent funds that are collected from customers for payments to their suppliers and funds that are collected on behalf of customers. Generally, these funds held for customers are initially deposited in separate bank accounts until remitted to the customers’ suppliers or to the customers. The funds held for customers are restricted for the purpose of satisfying the customers’ fund obligations and are not available for general business use by the Company. The Company partially invests funds held for customers in highly liquid investments with maturities of three months or less and in marketable debt securities with maturities of more than three months to one year at the time of purchase. Funds held for customers that are invested in marketable debt securities are classified as available-for-sale. These investments are carried at fair value, with unrealized gains or losses included in accumulated other comprehensive (loss) income on the consolidated balance sheets and as a component of the consolidated statements of comprehensive loss. The Company contractually earns interest on funds held for customers with associated counterparties.
Cash, cash equivalents, restricted cash and restricted cash equivalents	Cash, cash equivalents, restricted cash and restricted cash equivalents Cash and cash equivalents consist of cash in banks and highly liquid investments with maturities of three months or less at the time of purchase. Restricted cash consists of (i) cash collateral required by a bank in connection with the Company’s money transmission activities, (ii) cash in bank deposits required by the Company’s lessors to satisfy letter of credit requirements under its lease agreements, and (iii) cash in bank deposits included in funds held for customers. Restricted cash equivalents consist of highly liquid investments with maturities of three months or less at the time of purchase that are included in funds held for customers. Except for the restricted cash included in funds held for customers, the current and non-current portion of the restricted cash is included in prepaid expenses and other current assets and in other assets, respectively, in the accompanying consolidated balance sheets.
Short–term investments	Short–term investments The
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, short-term investments, and accounts receivable. The Company maintains its cash and cash equivalents and short-term investments with major financial institutions that may at times exceed federally insured limits. Management believes that these financial institutions are financially sound and the Company has not experienced material losses. There were no customers that exceeded 10% of the Company’s total revenue during the years ended June 30, 2020, 2019 and 2018.
Accounts receivable, unbilled revenue and allowance for doubtful accounts	Accounts receivable, unbilled revenue and allowance for doubtful accounts Accounts receivable are recorded at the invoiced amount, net of an allowance for doubtful accounts. Unbilled revenue is recorded based on amounts that the Company expects to invoice to customers in the subsequent period. The allowance for doubtful accounts is based on the Company’s assessment of the collectability of the accounts receivable. The Company regularly reviews the adequacy of the allowance for doubtful accounts by considering the age of each outstanding invoice and the collection history of each customer to determine whether a specific allowance is appropriate. Accounts receivable deemed uncollectable are charged against the allowance for doubtful accounts when identified. For all periods presented, the allowance for doubtful accounts was not significant.
Property and equipment	Property and equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the respective assets, generally one to five years. Leasehold improvements are amortized over the shorter of estimated useful lives of the assets or the lease term. Expenditures for repairs and maintenance are charged to expense as incurred. Upon disposition, the cost and related accumulated depreciation and amortization are removed from the accounts and the resulting gain or loss is reflected in the consolidated statements of operations.
Capitalized internal-use software	Capitalized internal-use software The Company capitalizes internal and external direct costs incurred related to obtaining or developing internal-use software. Costs incurred during the application development stage are capitalized and are amortized using the straight-line method over the estimated useful lives of the software, generally three years commencing on the first day of the month following when the software is ready for its intended use. Costs related to planning and post-implementation activities are expensed as incurred. During the years ended June 30, 2020, 2019 and 2018, the Company capitalized $0.6 million, $1.6 million and $0.7 million, respectively, in software development costs. As of June 30, 2020 and 2019, the unamortized internal-use software was $1.9 million and $2.3 million, respectively.
Impairment of long-lived assets	Impairment of long-lived assets Long-lived assets, such as property and equipment and capitalized internal-use software, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability of an asset to be held and used is measured by a comparison of the carrying amount of the asset to the estimated undiscounted future cash flows expected to be generated by the asset or asset group. If the carrying value of an asset or asset group exceeds its estimated future cash flows, an impairment charge is recognized to the extent that the carrying value exceeds its fair value. There were no impairment charges recognized during the years ended June 30, 2020, 2019 and 2018.
Deferred offering costs	Deferred offering costs Prior to the IPO, the offering costs, which consisted primarily of accounting, legal and other fees related to the IPO, were capitalized and included in other assets. As of June 30, 2019, the Company capitalized $0.4 million of deferred offering costs and subsequently reclassified such amount to additional paid-in capital as an offset against the IPO proceeds upon the consummation of the IPO.
Redeemable convertible preferred stock warrants	Redeemable convertible preferred stock warrants Prior to the IPO, freestanding warrants to purchase shares of the Company’s redeemable convertible preferred stock were accounted for as liabilities on the consolidated balance sheets at their estimated fair value because the shares underlying the warrants contain contingent redemption features outside the Company’s control. Fair value was measured using the Black-Scholes option-pricing model. Changes in fair value of the warrants were recorded in general and administrative expenses in the consolidated statements of operations. Upon completion of the IPO, the Company’s redeemable convertible preferred stock warrants were converted into common stock warrants and the associated redeemable convertible preferred stock warrant liabilities were re-measured to their fair value of $1.4 million and reclassified to additional paid-in capital.
Revenue recognition	Revenue recognition Subscription and Transaction Fees The Company enters into contracts with SMB and accounting firm customers to provide access to the functionality of the Company’s cloud-based payments platform to process transactions. These contracts are either cancelable arrangements paid monthly in arrears that can be terminated by either party without a penalty at any time or non-cancelable annual arrangements paid upfront. In July 2019, the Company updated its terms of service for cancelable contracts, whereby cancellations become effective at the end of the monthly subscription period in which the last transaction is processed. The Company charges its SMB and accounting firm customers subscription fees for access to its platform based on the number of users and level of service. The Company also charges these customers transaction fees based on actual transaction volume and the category of transaction. The contractual price for subscription and transaction activities is based on either the negotiated fees or the rates published on the Company’s website. The Company’s contracts with SMB and accounting firm customers are generally comprised of a single performance obligation to provide access to the functionality of the Company’s platform to process transactions. The Company accounts for open-ended cancelable contracts as a daily service. Subscription revenue for such contracts is recognized ratably over the period that the customers have access to the platform. Transaction revenue is recognized on the date the transactions are processed by the Company. The Company accounts for its annual and monthly contracts as a series of distinct services satisfied over time. The Company determines the transaction price for such contracts by estimating the total consideration to be received over the contract term from subscription and transaction fees. The Company recognizes the transaction price from annual contracts as a single performance obligation based on the proportion of transactions processed to the total estimated transactions to be processed over the contract period. Revenues recognized exclude amounts collected on behalf of third parties, such as sales taxes collected and remitted to governmental authorities. Arrangements with Financial Institutions The Company enters into multi-year contracts with financial institution customers that typically include fees for initial implementation services that are paid during the period the implementation services are provided as well as fees for subscription and transaction processing services, which are subject to guaranteed monthly minimum fees that are paid monthly over the contract term. These contracts enable the financial institutions to provide their customers with access to online bill pay services through the financial institutions’ online platforms. Implementation services are required up-front to establish an infrastructure that allows the financial institutions’ online platforms to communicate with the Company’s online platform. A financial institution’s customers cannot access online bill pay services until implementation is complete and the financial institution has provided acceptance of the implementation services. As such, initial implementation services and transaction processing services are not capable of being distinct from the subscription for online bill pay services and are combined into a single performance obligation. The consideration in these contracts varies based on the number of users and transactions processed. The Company has determined it meets the variable consideration allocation exception and therefore recognizes guaranteed monthly payments and any overages as revenue in the month they are earned. Implementation fees are recognized based on the proportion of transactions processed to the total estimated transactions to be processed over the contract period. The ability of the financial institution customers to renew their contracts without having to pay up-front implementation fees again provides them a material right. Material rights, which have not been significant to date, are treated as separate performance obligations and are recognized over the expected period of benefit. For such arrangements, the Company allocates revenue to each performance obligation based on its relative standalone selling price. Interest on Funds Held for Customers The Company also earns revenue from interest earned on funds held for customers that are initially deposited into the Company’s bank accounts that are separate from the Company’s operating cash accounts until remitted to the customers or their suppliers. The Company partially invests funds held for customers in highly liquid investments with maturities of three months or less and in marketable debt securities with maturities of three months to one year at the time of purchase. Interest and fees earned are recognized based on the effective interest method and also include the accretion of discounts and the amortization of premiums on marketable debt securities.
Deferred revenue	Deferred revenue Subscription and transaction fees from customers for which the Company has annual or multi-year contracts are generally billed in advance. These fees are initially recorded as deferred revenue and subsequently recognized as revenue as the performance obligation is satisfied.
Deferred costs	Deferred costs Deferred costs consist of (i) deferred sales commissions that are incremental costs of obtaining customer contracts and (ii) deferred service costs, primarily direct payroll costs, for implementation services provided to customers prior to the launching of the Company’s products for general availability (go-live) to customers. Sales commissions paid on renewals are not material and not commensurate with sales commissions paid on the initial contract. Deferred sales commissions are amortized ratably over four to six years, taking into consideration the initial contract term and expected renewal periods. Deferred service costs are amortized ratably over the estimated benefit period of the capitalized costs starting on the go-live date of the service.
Cost of revenue	Cost of revenue Cost of revenue consists primarily of personnel-related costs, including stock-based compensation expenses, for the Company’s customer success and payment operations teams, certain costs that are directly attributed to processing customers’ transactions (such as the cost of printing checks, postage for mailing checks, and expenses for processing payments), direct and amortized costs for implementing and integrating the Company’s platform into the customers’ systems, costs for maintaining, optimizing, and securing the Company’s cloud payments infrastructure, amortization of capitalized internal-use software, fees on the investment of customer funds, and allocation of overhead costs.
Research and development	Research and development Costs incurred in research and development, excluding development costs eligible for capitalization as internal-use software, are expensed as incurred.
Stock-based compensation	Stock-based compensation The Company measures stock-based compensation for stock options and purchase rights issued under the Employee Stock Purchase Plan (ESPP) at fair value on the date of grant using the Black-Scholes option-pricing model. The Company measures stock-based compensation for restricted stock units (RSUs) based on the fair market value of the Company’s stock on the date of grant. The Company recognizes compensation costs on a straight-line basis over the requisite service period, which is generally the vesting term of four years for stock options and RSUs, and the offering period of one year for purchase rights under the ESPP. Stock compensation costs are reduced by the estimated forfeitures at the date of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company estimates the forfeiture rate based on its historical experience for annual grant years where the majority of the vesting terms have been satisfied.
Advertising	Advertising The Company expenses the costs of advertising, including promotional expenses, as incurred. Advertising expenses during the years ended June 30, 2020, 2019 and 2018 were $5.8 million, $3.7 million and $0.8 million, respectively.
Income taxes	Income taxes The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities and net operating loss (NOL) and tax credit carryforwards. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. The Company accounts for uncertainty in income taxes using a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. The Company classifies any liabilities for unrecognized tax benefits as current to the extent that the Company anticipates payment (or receipt) of cash within one year. Interest and penalties related to uncertain tax positions are recognized in the provision for income taxes.
Net loss per share attributable to common stockholders	Net loss per share attributable to common stockholders Basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, without consideration of potentially dilutive securities. Diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable to common stockholders for all periods presented since the effect of potentially dilutive securities is anti-dilutive given the net loss of the Company.
New accounting pronouncements	New accounting pronouncements: Adopted In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash Year ended June 30, 2019 As previously reported ASU No. 2016-18 adjustments As adjusted Net cash used in operating activities $ (3,949 ) $ — $ (3,949 ) Net cash used in investing activities (419,801 ) 323,695 (96,106 ) Net cash provided by financing activities 491,655 — 491,655 Net increase in cash, cash equivalents, restricted cash, and restricted cash equivalents 67,905 323,695 391,600 Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of period 22,401 569,167 591,568 Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of period $ 90,306 $ 892,862 $ 983,168 Year ended June 30, 2018 As previously reported ASU No. 2016-18 adjustments As adjusted Net cash used in operating activities $ (8,356 ) $ — $ (8,356 ) Net cash used in investing activities (335,421 ) (82,401 ) (417,822 ) Net cash provided by financing activities 326,282 — 326,282 Net decrease in cash, cash equivalents, restricted cash, and restricted cash equivalents (17,495 ) (82,401 ) (99,896 ) Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of period 39,896 651,568 691,464 Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of period $ 22,401 $ 569,167 $ 591,568 In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, Not Yet Adopted In November 2019, the FASB Issued ASU 2019-08, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement In June 2018, the FASB Issued ASU 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815) and Leases (Topic 842) Effective Dates. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which requires lessees to recognize leases on-balance sheet and disclose key information about leasing arrangements. Topic 842 was subsequently amended by ASU 2018-10, Codification Improvements to Topic 842, Leases, ASU 2018-11, Leases (Topic 842): Targeted Improvements , and ASU No. 2019-10 , Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815) and Leases (Topic 842) Effective Dates. The new standard establishes a right-of-use model that requires a lessee to recognize a right-of-use (ROU) asset and lease liability on the balance sheet for all leases with a term longer than 12 months. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the income statement. As an emerging growth company, ASU 2016-02 may be adopted by the Company effective in fiscal years beginning after December 15, 2020, and interim periods within annual periods beginning after December 15, 2021 ; however, e arly adoption is permitted. The Company is planning to adopt this ASU beginning July 1, 2020. The effect of adopting this ASU is expected to be material to the Company’s consolidated financial statements because the Company has significant long-term lease agreements .

The Company and Its Significa_3

The Company and Its Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Schedule of Condensed Cash Flow Statement	The impact of the adoption of ASU 2016-18 on our previously reported consolidated statements of cash flows was as follows (in thousands): Year ended June 30, 2019 As previously reported ASU No. 2016-18 adjustments As adjusted Net cash used in operating activities $ (3,949 ) $ — $ (3,949 ) Net cash used in investing activities (419,801 ) 323,695 (96,106 ) Net cash provided by financing activities 491,655 — 491,655 Net increase in cash, cash equivalents, restricted cash, and restricted cash equivalents 67,905 323,695 391,600 Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of period 22,401 569,167 591,568 Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of period $ 90,306 $ 892,862 $ 983,168 Year ended June 30, 2018 As previously reported ASU No. 2016-18 adjustments As adjusted Net cash used in operating activities $ (8,356 ) $ — $ (8,356 ) Net cash used in investing activities (335,421 ) (82,401 ) (417,822 ) Net cash provided by financing activities 326,282 — 326,282 Net decrease in cash, cash equivalents, restricted cash, and restricted cash equivalents (17,495 ) (82,401 ) (99,896 ) Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of period 39,896 651,568 691,464 Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of period $ 22,401 $ 569,167 $ 591,568

Revenue, Performance Obligati_2

Revenue, Performance Obligations, Deferred Revenue and Deferred Costs (Tables)	12 Months Ended
	Jun. 30, 2020
Revenue From Contract With Customer [Abstract]
Schedule of Subscription and Transaction Fees Disaggregated by Customer Category	The Company’s subscription and transaction fees are disaggregated by customer category and consisted of the following (in thousands): Year ended June 30, 2020 2019 2018 Small-to-midsize business and accounting firm customers $ 126,035 $ 76,292 $ 50,138 Financial institution customers 10,370 9,659 6,854 Total subscription and transaction fees $ 136,405 $ 85,951 $ 56,992
Summary of Deferred Costs	Deferred costs Deferred costs consisted of the following as of the dates presented (in thousands): June 30, 2020 2019 Deferred sales commissions: Current $ 2,829 $ 1,674 Non-current 5,613 3,069 Total deferred sales commissions $ 8,442 $ 4,743 Deferred service costs: Current $ 618 $ 755 Non-current 4,474 2,173 Total deferred service costs $ 5,092 $ 2,928

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	12 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Summary of Fair Value of Assets and Liabilities Measured on Recurring Basis	The following tables set forth the fair value of assets and liabilities that were measured at fair value on a recurring basis based on the three-tier fair value hierarchy as of the dates presented (in thousands): June 30, 2020 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 20,075 $ — $ — $ 20,075 Short-term investments: U.S. treasury securities 28,368 — — 28,368 Corporate bonds — 71,131 — 71,131 Asset-backed securities — 24,475 — 24,475 28,368 95,606 — 123,974 Funds held for customers: Restricted cash equivalents 357,350 76,359 — 433,709 Corporate bonds — 493,879 — 493,879 Certificates of deposit — 85,953 — 85,953 U.S. treasury securities 48,952 — — 48,952 406,302 656,191 — 1,062,493 Total assets measured at fair value $ 454,745 $ 751,797 $ — $ 1,206,542 June 30, 2019 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 13,718 $ — $ — $ 13,718 Short-term investments: U.S. treasury securities 64,758 — — 64,758 Corporate bonds — 4,787 — 4,787 Asset-backed securities — 2,424 — 2,424 64,758 7,211 — 71,969 Funds held for customers: Restricted cash equivalents 424,219 — — 424,219 Corporate bonds — 302,070 — 302,070 Certificates of deposit — 105,377 — 105,377 U.S. treasury securities 30,960 — — 30,960 455,179 407,447 — 862,626 Total assets measured at fair value $ 533,655 $ 414,658 $ — $ 948,313 Liabilities Redeemable convertible preferred stock warrant liabilities $ — $ — $ 688 $ 688 Total liabilities measured at fair value $ — $ — $ 688 $ 688
Summary of Fair Value of Level 3 Financial Liabilities	The table below sets forth a summary of the changes in the fair value of Level 3 financial liabilities as of and for the periods presented (in thousands): June 30, 2020 2019 Fair value, beginning of year $ 688 $ 663 Change in fair value 717 319 Reclassification to additional paid-in capital (1,405 ) — Forfeiture of warrants — (294 ) Fair value, end of year $ — $ 688

Short-Term Investments (Tables)

Short-Term Investments (Tables)	12 Months Ended
	Jun. 30, 2020
Investments Debt And Equity Securities [Abstract]
Schedule of Short-Term Investments	Short-term investments consisted of the following (in thousands): June 30, 2020 Amortized cost Gross unrealized gains Gross unrealized losses Fair value U.S. treasury securities $ 28,281 $ 88 $ (1 ) $ 28,368 Corporate bonds 70,781 360 (10 ) 71,131 Asset-backed securities 24,333 142 — 24,475 $ 123,395 $ 590 $ (11 ) $ 123,974 June 30, 2019 Amortized cost Gross unrealized gains Fair value U.S. treasury securities $ 64,683 $ 75 $ 64,758 Corporate bonds 4,787 — 4,787 Asset-backed securities 2,424 — 2,424 $ 71,894 $ 75 $ 71,969
Schedule of Gross Unrealized Loss and Fair Values	The following table presents gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2020 (in thousands): June 30, 2020 Fair value Unrealized losses U.S. treasury securities $ 2,798 $ (1 ) Corporate bonds 9,258 (10 ) Total $ 12,056 $ (11 ) The following tables present gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2020 and 2019 (in thousands): June 30, 2020 Fair value Unrealized losses Corporate bonds $ 31,785 $ (7 ) Certificates of deposit 20,006 (3 ) U.S. treasury securities 14,990 (1 ) Total $ 66,781 $ (11 ) June 30, 2019 Fair value Unrealized losses Corporate bonds $ 46,065 $ (12 ) Certificates of deposit 12,027 (1 ) Total $ 58,092 $ (13 )

Funds Held for Customers (Table

Funds Held for Customers (Tables)	12 Months Ended
	Jun. 30, 2020
Investments Debt And Equity Securities [Abstract]
Summary of Funds Held For Customers	Funds held for customers consisted of the following (in thousands): June 30, 2020 2019 Restricted cash and other receivables $ 586,893 $ 470,971 Restricted cash equivalents 433,709 424,219 Corporate bonds 493,879 302,070 Certificates of deposit 85,953 105,377 U.S. treasury securities 48,952 30,960 Total funds held for customers 1,649,386 1,333,597 Less - income earned by the Company included in other current assets (5,136 ) (4,291 ) Total funds held for customers, net of income earned by the Company $ 1,644,250 $ 1,329,306
Summary of Fair Value of Funds Held For Customers Invested In Short Term Marketable Debt Securities	Below is a summary of the fair value of funds held for customers that were invested in short-term marketable debt securities (in thousands): June 30, 2020 Amortized cost Gross unrealized gains Gross unrealized losses Fair value Corporate bonds $ 491,950 $ 1,936 $ (7 ) $ 493,879 Certificates of deposit 85,841 115 (3 ) 85,953 U.S. treasury securities 48,949 4 (1 ) 48,952 Total $ 626,740 $ 2,055 $ (11 ) $ 628,784 June 30, 2019 Amortized cost Gross unrealized gains Gross unrealized losses Fair value Corporate bonds $ 301,755 $ 327 $ (12 ) $ 302,070 Certificates of deposit 105,297 81 (1 ) 105,377 U.S. treasury securities 30,927 33 — 30,960 Total $ 437,979 $ 441 $ (13 ) $ 438,407
Schedule of Gross Unrealized Loss and Fair Values	The following table presents gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2020 (in thousands): June 30, 2020 Fair value Unrealized losses U.S. treasury securities $ 2,798 $ (1 ) Corporate bonds 9,258 (10 ) Total $ 12,056 $ (11 ) The following tables present gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2020 and 2019 (in thousands): June 30, 2020 Fair value Unrealized losses Corporate bonds $ 31,785 $ (7 ) Certificates of deposit 20,006 (3 ) U.S. treasury securities 14,990 (1 ) Total $ 66,781 $ (11 ) June 30, 2019 Fair value Unrealized losses Corporate bonds $ 46,065 $ (12 ) Certificates of deposit 12,027 (1 ) Total $ 58,092 $ (13 )

Significant Balance Sheet Com_2

Significant Balance Sheet Components (Tables)	12 Months Ended
	Jun. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Schedule of Property and Equipment	Property and equipment – Property and equipment consisted of the following (in thousands): June 30, 2020 2019 Computers, software and equipment $ 11,262 $ 10,341 Capitalized software 4,026 3,387 Furniture and fixtures 3,116 1,859 Leasehold improvements 9,257 2,435 Property and equipment, gross 27,661 18,022 Less: accumulated depreciation and amortization (13,795 ) (11,465 ) Property and equipment, net $ 13,866 $ 6,557
Schedule of Other Accrued and Current Liabilities	Other accrued and current liabilities – Other accrued and current liabilities consisted of the following (in thousands): June 30, 2020 2019 Accrued sales and use tax $ 2,976 $ 2,881 Deferred rent and lease incentives 1,107 494 Accrued license fees 473 131 Non-sufficient funds reserve 260 147 Current portion of a long-term payable for a purchase of software 613 512 Other 3,112 2,391 Total $ 8,541 $ 6,556

Redeemable Convertible Prefer_2

Redeemable Convertible Preferred Stock (Tables)	12 Months Ended
	Jun. 30, 2020
Temporary Equity [Abstract]
Schedule of Redeemable Convertible Preferred Stock	At June 30, 2019, redeemable convertible preferred stock consisted of the following (in thousands): Shares authorized Shares issued and outstanding Liquidation preference Gross proceeds Series A 5,400 2,700 $ 2,106 $ 2,106 Series B 21,733 10,815 15,790 15,790 Series C 9,197 4,599 8,500 8,500 Series D 12,425 6,200 15,500 15,500 Series E 17,512 8,756 35,200 35,200 Series E-1 1,393 697 2,800 2,800 Series F 9,756 4,878 29,750 29,750 Series F-1 82 41 250 250 Series G 16,892 8,446 82,500 82,500 Series H 11,700 5,303 88,117 88,117 Total 106,090 52,435 $ 280,513 $ 280,513

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Summary of Stock Option Activities	A summary of stock option activity as of June 30, 2020, and changes during the year ended June 30, 2020, is presented below: Number of shares (in thousands) Weighted average exercise price per share Weighted average remaining contractual term (in years) Aggregate intrinsic value (in thousands) Outstanding at June 30, 2019 10,027 $ 5.90 8.37 $ 75,223 Granted 2,937 $ 18.78 Exercised (3,291 ) $ 4.09 Cancelled / forfeited / expired (654 ) $ 8.83 Outstanding at June 30, 2020 9,019 $ 10.53 8.26 $ 718,563 Vested and expected to vest at June 30, 2020 (1) 8,135 $ 10.34 8.21 $ 649,756 Vested and exercisable at June 30, 2020 2,584 $ 6.23 7.12 $ 217,024 (1)
Summary of Fair Value of Options Granted Black-Scholes Option-Pricing Model Assumptions	The fair value of options granted during the years ended June 30, 2020, 2019 and 2018 was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions: Year ended June 30, 2020 2019 2018 Expected term (in years) 6.25 6.25 6.25 Expected volatility 50.0% to 100.6% 46.0% to 51.0% 45.0% to 55.1% Risk-free interest rate 0.35% to 1.88% 2.19% to 2.89% 2.05% to 2.89% Expected dividend yield 0% 0% 0%
Summary of RSU Activity	A summary of RSU activity during the year ended June 30, 2020 is presented below: Number of shares (in thousands) Weighted average grant date fair value Nonvested at June 30, 2019 — $ — Granted 1,153 $ 66.11 Vested (8 ) $ 62.78 Cancelled / forfeited / expired (4 ) $ 58.83 Nonvested at June 30, 2020 1,141 $ 66.16
Schedule of Fair Value of ESPP Offerings	The fair value of ESPP offerings was estimated at the date of each offering using the Black-Scholes option-pricing model with the following assumptions during the year ended June 30, 2020: Expected term (in years) 0.5 to 1.17 Expected volatility 50.0 % Risk-free interest rate 1.47% to 1.56% Expected dividend yield 0 %
Summary of Stock Based Compensation Expense from Stock Options, RSUs and ESPP	Stock-based compensation expense from stock options, RSUs and ESPP was included in the following line items in the accompanying consolidated statements of operations during the periods presented (in thousands): Year ended June 30, 2020 2019 2018 Cost of revenue $ 1,257 $ 331 $ 78 Research and development 5,495 1,128 429 Sales and marketing 2,777 922 508 General and administrative 8,535 1,701 530 Total $ 18,064 $ 4,082 $ 1,545
Schedule of Warrants Issued and Outstanding	As of June 30, 2020, there were no stock warrants outstanding. As of June 30, 2019 the following warrants were issued and outstanding (in thousands except per share amounts): Number of warrants issued and outstanding Weighted average exercise price Expiration date Series B redeemable convertible preferred stock warrants 51 $ 1.46 January 2020 Series D redeemable convertible preferred stock warrants 12 $ 2.50 May 2020 Common stock warrants 63 $ 6.40 April 2024 Total 126
Schedule of Outstanding Redeemable Convertible Preferred Stock Warrant Liabilities	The outstanding redeemable convertible preferred stock warrant liabilities as of June 30, 2019 and 2018 were re-measured to fair value using the Black-Scholes option-pricing model. The key inputs used in the valuation were as follows: June 30, 2019 2018 Expected term (in years) 0.58 1.04 Expected volatility 51.0 % 46.0 % Risk-free interest rate 2.0 % 2.3 % Expected dividend yield 0 % 0 %

Other Income, Net (Tables)

Other Income, Net (Tables)	12 Months Ended
	Jun. 30, 2020
Other Income Disclosure Nonoperating [Abstract]
Schedule of Other Income, Net	Other income, net consisted of the following for the periods presented (in thousands): Year ended June 30, 2020 2019 2018 Interest income $ 4,092 $ 3,207 $ 1,058 Interest expense (229 ) (825 ) (427 ) Revaluation of warrant liabilities and forfeiture of warrants (717 ) — — Other 14 (49 ) 1 Total $ 3,160 $ 2,333 $ 632

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Components of Loss before Provision for (Benefit from) Income Taxes	The components of loss before the provision for (benefit from) income taxes were as follows (in thousands): Year ended June 30, 2020 2019 2018 Domestic $ (31,038 ) $ (7,470 ) $ (7,185 ) Foreign — — — Total $ (31,038 ) $ (7,470 ) $ (7,185 )
Components of Provision for (Benefit from) Income Taxes	The components of provision for (benefit from) income taxes were as follows (in thousands): Year ended June 30, 2020 2019 2018 Current: Federal $ — $ — $ — State 53 20 10 Foreign — — — Total current 53 20 10 Deferred: — — — Federal — (142 ) — State — (34 ) — Foreign — — — Total current — (176 ) — Provision for (benefit from) income taxes $ 53 $ (156 ) $ 10
Difference between Income Taxes Computed At Federal Statutory Rate and Provision for (Benefit from) Income Taxes	The items accounting for the difference between the income taxes computed at the federal statutory rate and the provision for (benefit from) income taxes consisted of the following (in thousands): Year ended June 30, 2020 2019 2018 Expected benefit at U.S. federal statutory rate $ (6,518 ) $ (1,569 ) $ (1,976 ) Stock-based compensation (31,047 ) 390 297 Federal and state R&D credits, net of unrecognized benefit (6,411 ) (2,111 ) (909 ) Deferred tax asset re-measurement due to Tax Reform — — 12,227 Change in valuation allowance 43,716 3,029 (9,753 ) Other 313 105 124 Provision for (benefit from) income taxes $ 53 $ (156 ) $ 10
Components of Deferred Tax Assets and Liabilities	The components of deferred tax assets and liabilities were as follows as of June 30, 2020 and 2019 (in thousands): June 30, 2020 2019 Deferred tax assets: Accruals and reserves $ 3,933 $ 1,631 Deferred revenue 904 84 Property and equipment 128 — Stock-based compensation 2,542 700 Net operating loss carryforwards 68,694 26,690 Research and development credits 12,226 5,649 Total deferred tax assets before valuation allowance 88,427 34,754 Valuation allowance (85,569 ) (33,253 ) Deferred tax assets $ 2,858 $ 1,501 Deferred tax liabilities: Deferred contract costs $ (2,182 ) $ (1,229 ) Property and equipment — (143 ) Other (676 ) (129 ) Total deferred tax liabilities $ (2,858 ) $ (1,501 ) Net deferred tax assets (liabilities) $ — $ —
Reconciliation of Unrecognized Tax Benefits	Below is the reconciliation of the unrecognized tax benefits as of the periods presented (in thousands): June 30, 2020 2019 2018 Balance at the beginning of the year $ 2,692 $ 1,457 $ 835 Additions based upon tax positions related to the current year 3,078 1,028 — Additions based upon tax positions related to the prior year 17 207 622 Balance at the end of the year $ 5,787 $ 2,692 $ 1,457

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Jun. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Schedule of Future Minimum Lease Payments Under Non-cancelable Operating Leases	Future minimum lease payments under non-cancelable operating leases as of June 30, 2020 are as follows (in thousands): Fiscal years ending June 30: Amount 2021 $ 1,192 2022 7,029 2023 7,244 2024 7,458 2025 7,504 Thereafter 46,607 Total $ 77,034
Schedule of Future Payments Under Other Agreements	Future payments under these other agreements as of June 30, 2020 are as follows (in thousands). Fiscal years ending June 30: Amount 2021 $ 13,000 2022 2,000 2023 2,000 2024 2,000 2025 2,000 Thereafter 3,500 Total $ 24,500

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable To Common Stockholders (Tables)	12 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Schedule of Calculation of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders	The following table presents the calculation of basic and diluted net loss per share attributable to common stockholders during the years ended June 30, 2020, 2019 and 2018 (in thousands, except per share amounts): Year ended June 30, 2020 2019 2018 Numerator: Net loss attributable to common stockholders $ (31,091 ) $ (7,314 ) $ (7,195 ) Denominator: Weighted-average shares used to compute net loss per share attributable to common stockholders Basic and diluted 44,106 7,797 7,155 Net loss per share attributable to common stockholders: Basic and diluted $ (0.70 ) $ (0.94 ) $ (1.01 )
Summary of Potentially Dilutive Securities Excluded from Diluted Net Loss Per Share Calculation	Potentially dilutive securities, which were excluded from the diluted net loss per share calculations because they would have been antidilutive, are as follows (in thousands): June 30, 2020 2019 2018 Stock options 9,019 10,027 5,616 Restricted stock units 1,141 — — Warrants to purchase common stock — 63 — Convertible redeemable preferred stock — 52,435 47,131 Warrants to purchase redeemable convertible preferred stock — 63 115 Total 10,160 62,588 52,862

Quarterly Results of Operatio_2

Quarterly Results of Operations (Unaudited) (Tables)	12 Months Ended
	Jun. 30, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of Consolidated Statements of Operations	The table below presents our unaudited consolidated statements of operations for each of the last eight quarters in the period ended June 30, 2020: Three months ended June 30, 2020 March 31, 2020 December 31, 2019 September 30, 2019 June 30, 2019 March 31, 2019 December 31, 2018 September 30, 2018 Revenue Subscription and transaction fees $ 38,801 $ 36,092 $ 32,964 $ 28,548 $ 25,225 $ 22,112 $ 20,444 $ 18,170 Interest on funds held for customers 3,309 5,138 6,116 6,632 6,459 6,132 5,555 4,254 Total revenue 42,110 41,230 39,080 35,180 31,684 28,244 25,999 22,424 Cost of revenue 10,100 10,110 9,787 9,147 8,488 7,914 7,175 6,341 Gross profit 32,010 31,120 29,293 26,033 23,196 20,330 18,824 16,083 Operating expenses Research and development 14,929 13,969 12,992 11,515 9,447 7,899 6,154 5,424 Sales and marketing 11,796 11,802 11,491 10,267 9,949 7,365 6,856 5,944 General and administrative 15,546 15,064 12,748 10,535 8,953 7,904 6,404 5,937 Total operating expenses 42,271 40,835 37,231 32,317 28,349 23,168 19,414 17,305 Loss from operations (10,261 ) (9,715 ) (7,938 ) (6,284 ) (5,153 ) (2,838 ) (590 ) (1,222 ) Other income, net 764 1,397 360 639 596 734 686 317 (Loss) income before provision for (benefit from) income taxes (9,497 ) (8,318 ) (7,578 ) (5,645 ) (4,557 ) (2,104 ) 96 (905 ) Provision for (benefit from) income taxes 1 1 — 51 (59 ) (70 ) (6 ) (21 ) Net (loss) income $ (9,498 ) $ (8,319 ) $ (7,578 ) $ (5,696 ) $ (4,498 ) $ (2,034 ) $ 102 $ (884 ) Net (loss) income per share attributable to common stockholders, basic and diluted $ (0.13 ) $ (0.11 ) $ (0.34 ) $ (0.69 ) $ (0.56 ) $ (0.26 ) $ — $ (0.12 )

The Company and Its Significa_4

The Company and Its Significant Accounting Policies - Additional Information (Details)	Jun. 15, 2020USD ($)$ / sharesshares	Dec. 16, 2019USD ($)$ / sharesshares	Nov. 27, 2019	Jun. 30, 2020USD ($)SegmentCustomershares	Jun. 30, 2019USD ($)Customer	Jun. 30, 2018USD ($)Customer	Aug. 02, 2018
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions and other offering costs		$ 225,500,000		$ 225,481,000
Reclassification of redeemable convertible preferred stock warrant liabilities to additional paid-in capital upon initial public offering		$ 1,400,000		$ 1,405,000
Net proceeds from follow-on public offering	$ 307,500,000
Reverse split of shares description				the Company filed an amendment to its amended and restated certificate of incorporation to effect a reverse split of shares of the Company’s issued and outstanding redeemable convertible preferred stock, common stock and non-voting common stock on a 2-for-1 basis
Stock split, conversion ratio			2
Number of operating segments | Segment				1
Other-than-temporary impairment on short-term investments				$ 0	$ 0	$ 0
Impairment charges				$ 0	0	0
Offering period of purchase rights under ESPP				1 year
Advertising expenses				$ 5,800,000	3,700,000	800,000
ASU No. 2019-12
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]				true
Change in Accounting Principle, Accounting Standards Update, Adoption Date				Jun. 30, 2020
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]				true
ASU No. 2016-18
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]				true
Change in Accounting Principle, Accounting Standards Update, Adoption Date				Jun. 30, 2020
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]				true
ASU No. 2016-15
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]				true
Change in Accounting Principle, Accounting Standards Update, Adoption Date				Jun. 30, 2020
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]				true
Stock Options and RSUs
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Vesting term				4 years
Software Development
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Estimated useful lives				three years commencing on the first day of the month following when the software is ready for its intended use.
Software and Software Development Costs
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Software development costs capitalized				$ 600,000	1,600,000	$ 700,000
Unamortized internal-use software				$ 1,900,000	$ 2,300,000
Minimum
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Estimated useful lives				1 year
Deferred sales commissions are amortized				4 years
Maximum
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Estimated useful lives				5 years
Deferred sales commissions are amortized				6 years
Revenue Benchmark | Customer Concentration Risk
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Number of customers exceed 10% of revenue | Customer				0	0	0
Concentration percentage				10.00%	10.00%	10.00%
Common Stock
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Shares issued | shares				11,297,000
Redeemable convertible preferred stock converted | shares		52,434,505
IPO
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Shares issued | shares	4,330,000	11,297,058
Shares issued price to public per share | $ / shares	$ 74.25	$ 22
Underwriting discounts and commissions		$ 17,400,000
Other offering costs		$ 5,600,000
IPO | Other Assets
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Deferred offering costs					$ 400,000
Over-Allotment Option
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Shares issued | shares	1,080,000	1,473,529
Follow-On Public Offering
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Underwriting discounts and commissions	$ 12,900,000
Other offering costs	$ 1,100,000
Follow-On Public Offering | Common Stock
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Shares issued | shares				4,330,000
Bill Com Incorporation | BDC Payments Holdings, Inc
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent							100.00%

The Company and Its Significa_5

The Company and Its Significant Accounting Policies - Schedule of Condensed Cash Flow Statement (Details) - USD ($) $ in Thousands		12 Months Ended
		Jun. 30, 2020	Jun. 30, 2019		Jun. 30, 2018
Error Corrections And Prior Period Adjustments Restatement [Line Items]
Net cash used in operating activities		$ (4,430)	$ (3,949)	[1]	$ (8,356)	[1]
Net cash used in investing activities		(249,487)	(96,106)	[1]	(417,822)	[1]
Net cash provided by financing activities		863,126	491,655	[1]	326,282	[1]
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents		609,209	391,600	[1]	(99,896)	[1]
Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of year	[1]	983,168	591,568		691,464
Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of year		1,592,377	983,168	[1]	591,568	[1]
AS Previously Reported
Error Corrections And Prior Period Adjustments Restatement [Line Items]
Net cash used in operating activities			(3,949)		(8,356)
Net cash used in investing activities			(419,801)		(335,421)
Net cash provided by financing activities			491,655		326,282
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents			67,905		(17,495)
Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of year		90,306	22,401		39,896
Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of year			90,306		22,401
Revision of Prior Period, Adjustment | ASU No. 2016-18
Error Corrections And Prior Period Adjustments Restatement [Line Items]
Net cash used in investing activities			323,695		(82,401)
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents			323,695		(82,401)
Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of year		$ 892,862	569,167		651,568
Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of year			$ 892,862		$ 569,167
[1]	Amounts have been adjusted to reflect the adoption of Accounting Standards Update No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash.

Revenue, Performance Obligati_3

Revenue, Performance Obligations, Deferred Revenue and Deferred Costs - Schedule of Subscription and Transaction Fees Disaggregated by Customer Category (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Disaggregation Of Revenue [Line Items]
Total revenue	$ 42,110	$ 41,230	$ 39,080	$ 35,180	$ 31,684	$ 28,244	$ 25,999	$ 22,424	$ 157,600	$ 108,351	$ 64,865
Subscription and Transaction Fees
Disaggregation Of Revenue [Line Items]
Total revenue	$ 38,801	$ 36,092	$ 32,964	$ 28,548	$ 25,225	$ 22,112	$ 20,444	$ 18,170	136,405	85,951	56,992
Small-to-midsize Business and Accounting Firm Customers | Subscription and Transaction Fees
Disaggregation Of Revenue [Line Items]
Total revenue									126,035	76,292	50,138
Financial Institution Customers | Subscription and Transaction Fees
Disaggregation Of Revenue [Line Items]
Total revenue									$ 10,370	$ 9,659	$ 6,854

Revenue, Performance Obligati_4

Revenue, Performance Obligations, Deferred Revenue and Deferred Costs - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Revenue From Contract With Customer [Abstract]
Aggregate amount of transaction price allocated to performance obligations	$ 152.3
Deferred revenue, recognized	5.6	$ 5.6
Amortization of deferred sales commissions	2.3	1.4	$ 1
Amortization of deferred service costs	$ 0.4	$ 1.1	$ 0.4

Revenue, Performance Obligati_5

Revenue, Performance Obligations, Deferred Revenue and Deferred Costs - Additional Information (Details1) $ in Millions	Jun. 30, 2020USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Aggregate amount of transaction price allocated to performance obligations	$ 152.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-07-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Aggregate amount of transaction price allocated to performance obligations	$ 13
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-07-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Aggregate amount of transaction price allocated to performance obligations	$ 139.3
Revenue, remaining performance obligation, expected timing of satisfaction, period

Revenue, Performance Obligati_6

Revenue, Performance Obligations, Deferred Revenue and Deferred Costs - Summary of Deferred Costs (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Deferred Sales Commissions
Deferred Costs [Line Items]
Current	$ 2,829	$ 1,674
Non-current	5,613	3,069
Total	8,442	4,743
Deferred Service Costs
Deferred Costs [Line Items]
Current	618	755
Non-current	4,474	2,173
Total	$ 5,092	$ 2,928

Fair Value Measurement - Summar

Fair Value Measurement - Summary of Fair Value of Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Assets
Short-term investments	$ 123,974	$ 71,969
Funds held for customers	1,062,493	862,626
Total assets measured at fair value	1,206,542	948,313
Liabilities
Redeemable convertible preferred stock warrant liabilities		688
Total liabilities measured at fair value		688
Money Market Funds
Assets
Cash equivalents	20,075	13,718
U.S. Treasury Securities
Assets
Short-term investments	28,368	64,758
Funds held for customers	48,952	30,960
Corporate Bonds
Assets
Short-term investments	71,131	4,787
Funds held for customers	493,879	302,070
Asset-Backed Securities
Assets
Short-term investments	24,475	2,424
Restricted Cash Equivalents
Assets
Funds held for customers	433,709	424,219
Certificates of Deposit
Assets
Funds held for customers	85,953	105,377
Level 1
Assets
Short-term investments	28,368	64,758
Funds held for customers	406,302	455,179
Total assets measured at fair value	454,745	533,655
Level 1 | Money Market Funds
Assets
Cash equivalents	20,075	13,718
Level 1 | U.S. Treasury Securities
Assets
Short-term investments	28,368	64,758
Funds held for customers	48,952	30,960
Level 1 | Restricted Cash Equivalents
Assets
Funds held for customers	357,350	424,219
Level 2
Assets
Short-term investments	95,606	7,211
Funds held for customers	656,191	407,447
Total assets measured at fair value	751,797	414,658
Level 2 | Corporate Bonds
Assets
Short-term investments	71,131	4,787
Funds held for customers	493,879	302,070
Level 2 | Asset-Backed Securities
Assets
Short-term investments	24,475	2,424
Level 2 | Restricted Cash Equivalents
Assets
Funds held for customers	76,359
Level 2 | Certificates of Deposit
Assets
Funds held for customers	$ 85,953	105,377
Level 3
Liabilities
Redeemable convertible preferred stock warrant liabilities		688
Total liabilities measured at fair value		$ 688

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Details) - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair value assets amount transfer from level 1 to level 2	$ 0	$ 0
Fair value assets amount transfer from level 2 to level 1	0	0
Fair value liabilities amount transfer from level 1 to level 2	0	0
Fair value liabilities amount transfer from level 2 to level 1	0	0
Fair value assets amount transfer into level 3	0	0
Fair value assets amount transfer out of level 3	0	0
Fair value liabilities amount transfer into level 3	0	0
Fair value liabilities amount transfer out of level 3	$ 0	$ 0

Fair Value Measurement - Summ_2

Fair Value Measurement - Summary of Fair Value of Level 3 Financial Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value, beginning of year	$ 688	$ 663
Change in fair value	717	319
Reclassification to additional paid-in capital	$ (1,405)
Forfeiture of warrants		(294)
Fair value, end of year		$ 688

Short-Term Investments - Schedu

Short-Term Investments - Schedule of Short-Term Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Schedule Of Available For Sale Securities [Line Items]
Short-term investments, Amortized cost	$ 123,395	$ 71,894
Short-term investments, Gross unrealized gains	590	75
Short-term investments, Gross unrealized losses	(11)
Short-term investments	123,974	71,969
U.S. Treasury Securities
Schedule Of Available For Sale Securities [Line Items]
Short-term investments, Amortized cost	28,281	64,683
Short-term investments, Gross unrealized gains	88	75
Short-term investments, Gross unrealized losses	(1)
Short-term investments	28,368	64,758
Corporate Bonds
Schedule Of Available For Sale Securities [Line Items]
Short-term investments, Amortized cost	70,781	4,787
Short-term investments, Gross unrealized gains	360
Short-term investments, Gross unrealized losses	(10)
Short-term investments	71,131	4,787
Asset-Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Short-term investments, Amortized cost	24,333	2,424
Short-term investments, Gross unrealized gains	142
Short-term investments	$ 24,475	$ 2,424

Short-Term Investments - Additi

Short-Term Investments - Additional Information (Details) - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Schedule Of Available For Sale Securities [Line Items]
Amortized cost	$ 123,395,000	$ 71,894,000
Percentage of debt securities, available-for-sale maturing within one year	83.00%	100.00%
Percentage of debt securities, available-for-sale maturing after one year through two years	17.00%
Short-term investments realized gains or losses	$ 0	$ 0	$ 0
Accrued Interest Receivable
Schedule Of Available For Sale Securities [Line Items]
Amortized cost	500,000	200,000
Fair value	$ 500,000	$ 200,000

Short-Term Investments - Sche_2

Short-Term Investments - Schedule of Gross Unrealized Losses and Fair Value (Details) $ in Thousands	Jun. 30, 2020USD ($)
Schedule Of Available For Sale Securities [Line Items]
Fair value	$ 12,056
Unrealized losses	(11)
U.S. Treasury Securities
Schedule Of Available For Sale Securities [Line Items]
Fair value	2,798
Unrealized losses	(1)
Corporate Bonds
Schedule Of Available For Sale Securities [Line Items]
Fair value	9,258
Unrealized losses	$ (10)

Funds Held for Customers - Summ

Funds Held for Customers - Summary of Funds Held for Customers (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Funds Held For Customers [Line Items]
Total funds held for customers	$ 1,649,386	$ 1,333,597
Total funds held for customers, net of income earned by the Company	1,644,250	1,329,306
Other Current Assets
Funds Held For Customers [Line Items]
Less - income earned by the Company	(5,136)	(4,291)
Certificates of Deposit
Funds Held For Customers [Line Items]
Total funds held for customers	85,953	105,377
Restricted Cash and Other Receivables
Funds Held For Customers [Line Items]
Total funds held for customers	586,893	470,971
Restricted Cash Equivalents
Funds Held For Customers [Line Items]
Total funds held for customers	433,709	424,219
Corporate Bonds
Funds Held For Customers [Line Items]
Total funds held for customers	493,879	302,070
U.S. Treasury Securities
Funds Held For Customers [Line Items]
Total funds held for customers	$ 48,952	$ 30,960

Funds Held for Customers - Su_2

Funds Held for Customers - Summary of Fair Value of Funds Held For Customers (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Funds Held For Customers [Line Items]
Amortized cost	$ 626,740	$ 437,979
Gross unrealized gains	2,055	441
Gross unrealized losses	(11)	(13)
Fair value	628,784	438,407
Certificates of Deposit
Funds Held For Customers [Line Items]
Amortized cost	85,841	105,297
Gross unrealized gains	115	81
Gross unrealized losses	(3)	(1)
Fair value	85,953	105,377
Corporate Bonds
Funds Held For Customers [Line Items]
Amortized cost	491,950	301,755
Gross unrealized gains	1,936	327
Gross unrealized losses	(7)	(12)
Fair value	493,879	302,070
U.S. Treasury Securities
Funds Held For Customers [Line Items]
Amortized cost	48,949	30,927
Gross unrealized gains	4	33
Gross unrealized losses	(1)
Fair value	$ 48,952	$ 30,960

Funds Held for Customers - Addi

Funds Held for Customers - Additional Information (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Funds Held For Customers [Line Items]
Amortized Cost	$ 626,740,000	$ 437,979,000
Fair value	$ 628,784,000	$ 438,407,000
Debt securities percentage mature within one year	100.00%	100.00%
Short term marketable debt realized gains or losses	$ 0	$ 0	$ 0
Accrued Interest Receivable
Funds Held For Customers [Line Items]
Amortized Cost	2,900,000	1,900,000
Fair value	$ 2,900,000	$ 1,900,000

Funds Held for Customers - Su_3

Funds Held for Customers - Summary of Gross Unrealized Losses And Fair Values (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Funds Held For Customers [Line Items]
Fair value	$ 66,781	$ 58,092
Unrealized losses	(11)	(13)
Certificates of Deposit
Funds Held For Customers [Line Items]
Fair value	20,006	12,027
Unrealized losses	(3)	(1)
Corporate Bonds
Funds Held For Customers [Line Items]
Fair value	31,785	46,065
Unrealized losses	(7)	$ (12)
U.S. Treasury Securities
Funds Held For Customers [Line Items]
Fair value	14,990
Unrealized losses	$ (1)

Significant Balance Sheet Com_3

Significant Balance Sheet Components - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 27,661	$ 18,022
Less: accumulated depreciation and amortization	(13,795)	(11,465)
Property and equipment, net	13,866	6,557
Computers Software and Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	11,262	10,341
Capitalized Software
Property Plant And Equipment [Line Items]
Property and equipment, gross	4,026	3,387
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Property and equipment, gross	3,116	1,859
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 9,257	$ 2,435

Significant Balance Sheet Com_4

Significant Balance Sheet Components - Schedule of Property and Equipment - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019		Jun. 30, 2018
Balance Sheet Related Disclosures [Abstract]
Depreciation and amortization	$ 4,257	$ 3,154	[1]	$ 2,314	[1]
[1]	Amounts have been adjusted to reflect the adoption of Accounting Standards Update No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash.

Significant Balance Sheet Com_5

Significant Balance Sheet Components - Schedule of Other accrued and Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Balance Sheet Related Disclosures [Abstract]
Accrued sales and use tax	$ 2,976	$ 2,881
Deferred rent and lease incentives	1,107	494
Accrued license fees	473	131
Non-sufficient funds reserve	260	147
Current portion of a long-term payable for a purchase of software	613	512
Other	3,112	2,391
Total	$ 8,541	$ 6,556

Bank Borrowings - Additional In

Bank Borrowings - Additional Information (Details) - USD ($)	Jun. 28, 2019	Jun. 30, 2020	Aug. 15, 2019
Eurodollar Rate | Senior Facilities Agreement
Line Of Credit Facility [Line Items]
Debt instrument basis spread on variable rate	1.25%
Eurodollar Rate | Senior Facilities Agreement | Minimum
Line Of Credit Facility [Line Items]
Debt instrument basis spread on variable rate	1.75%
Eurodollar Rate | Senior Facilities Agreement | Maximum
Line Of Credit Facility [Line Items]
Debt instrument basis spread on variable rate	2.75%
London Interbank Offered Rate | Senior Facilities Agreement | Minimum
Line Of Credit Facility [Line Items]
Debt instrument reduction in basis spread on variable rate	0.00%
Alternative Base Rate | Senior Facilities Agreement | Minimum
Line Of Credit Facility [Line Items]
Debt instrument basis spread on variable rate	0.25%
Alternative Base Rate | Senior Facilities Agreement | Maximum
Line Of Credit Facility [Line Items]
Debt instrument reduction in basis spread on variable rate	1.25%
Federal Funds Effective Rate | Senior Facilities Agreement
Line Of Credit Facility [Line Items]
Debt instrument basis for effective rate	0.50%
Senior Facilities Agreement
Line Of Credit Facility [Line Items]
Line of credit facility, expiration date	Jun. 28, 2022
Line of credit facility, borrowing deduction		$ 2,300,000
Line of credit facility, remaining borrowing capacity		$ 40,800,000
Line of credit facility, interest rate		2.00%
Senior Facilities Agreement | Letter of Credit
Line Of Credit Facility [Line Items]
Line of credit facility, utilization		$ 6,900,000
Senior Facilities Agreement | Silicon Valley Bank
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 50,000,000
Line of credit facility maximum borrowing capacity subject to certain conditions	$ 25,000,000
Senior Facilities Agreement | Silicon Valley Bank | J P Morgan Chase Bank
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 20,000,000

Redeemable Convertible Prefer_3

Redeemable Convertible Preferred Stock - Additional Information (Details) - USD ($) $ in Thousands	Dec. 16, 2019	Jun. 30, 2020
Schedule Of Stockholders Equity [Line Items]
Reclassification of redeemable convertible preferred stock		$ 276,307
Common Stock
Schedule Of Stockholders Equity [Line Items]
Redeemable convertible preferred stock converted	52,434,505
Reclassification of redeemable convertible preferred stock		$ 1
Common Stock and Additional Paid-in Capital
Schedule Of Stockholders Equity [Line Items]
Reclassification of redeemable convertible preferred stock	$ 276,300

Redeemable Convertible Prefer_4

Redeemable Convertible Preferred Stock - Schedule of Redeemable Convertible Preferred Stock (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2020
Schedule Of Stockholders Equity [Line Items]
Redeemable convertible preferred stock,Shares authorized	106,090,000	0
Redeemable convertible preferred stock,Shares issued	52,435,000	0
Redeemable convertible preferred stock,Shares outstanding	52,435,000	0
Liquidation preference	$ 280,513
Gross proceeds	$ 280,513
Series A
Schedule Of Stockholders Equity [Line Items]
Redeemable convertible preferred stock,Shares authorized	5,400,000
Redeemable convertible preferred stock,Shares issued	2,700,000
Redeemable convertible preferred stock,Shares outstanding	2,700,000
Liquidation preference	$ 2,106
Gross proceeds	$ 2,106
Series B
Schedule Of Stockholders Equity [Line Items]
Redeemable convertible preferred stock,Shares authorized	21,733,000
Redeemable convertible preferred stock,Shares issued	10,815,000
Redeemable convertible preferred stock,Shares outstanding	10,815,000
Liquidation preference	$ 15,790
Gross proceeds	$ 15,790
Series C
Schedule Of Stockholders Equity [Line Items]
Redeemable convertible preferred stock,Shares authorized	9,197,000
Redeemable convertible preferred stock,Shares issued	4,599,000
Redeemable convertible preferred stock,Shares outstanding	4,599,000
Liquidation preference	$ 8,500
Gross proceeds	$ 8,500
Series D
Schedule Of Stockholders Equity [Line Items]
Redeemable convertible preferred stock,Shares authorized	12,425,000
Redeemable convertible preferred stock,Shares issued	6,200,000
Redeemable convertible preferred stock,Shares outstanding	6,200,000
Liquidation preference	$ 15,500
Gross proceeds	$ 15,500
Series E
Schedule Of Stockholders Equity [Line Items]
Redeemable convertible preferred stock,Shares authorized	17,512,000
Redeemable convertible preferred stock,Shares issued	8,756,000
Redeemable convertible preferred stock,Shares outstanding	8,756,000
Liquidation preference	$ 35,200
Gross proceeds	$ 35,200
Series E-1
Schedule Of Stockholders Equity [Line Items]
Redeemable convertible preferred stock,Shares authorized	1,393,000
Redeemable convertible preferred stock,Shares issued	697,000
Redeemable convertible preferred stock,Shares outstanding	697,000
Liquidation preference	$ 2,800
Gross proceeds	$ 2,800
Series F
Schedule Of Stockholders Equity [Line Items]
Redeemable convertible preferred stock,Shares authorized	9,756,000
Redeemable convertible preferred stock,Shares issued	4,878,000
Redeemable convertible preferred stock,Shares outstanding	4,878,000
Liquidation preference	$ 29,750
Gross proceeds	$ 29,750
Series F-1
Schedule Of Stockholders Equity [Line Items]
Redeemable convertible preferred stock,Shares authorized	82,000
Redeemable convertible preferred stock,Shares issued	41,000
Redeemable convertible preferred stock,Shares outstanding	41,000
Liquidation preference	$ 250
Gross proceeds	$ 250
Series G
Schedule Of Stockholders Equity [Line Items]
Redeemable convertible preferred stock,Shares authorized	16,892,000
Redeemable convertible preferred stock,Shares issued	8,446,000
Redeemable convertible preferred stock,Shares outstanding	8,446,000
Liquidation preference	$ 82,500
Gross proceeds	$ 82,500
Series H
Schedule Of Stockholders Equity [Line Items]
Redeemable convertible preferred stock,Shares authorized	11,700,000
Redeemable convertible preferred stock,Shares issued	5,303,000
Redeemable convertible preferred stock,Shares outstanding	5,303,000
Liquidation preference	$ 88,117
Gross proceeds	$ 88,117

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Nov. 26, 2019	Jun. 30, 2020	Jun. 30, 2019		Jun. 30, 2018
Class of Stock [Line Items]
Vest over requisite service period		4 years
Option expiration period		10 years
Unvested shares of options granted with double trigger vesting acceleration percentage in event of sale		50.00%
Total intrinsic value of options exercised		$ 191,300	$ 3,800		$ 700
Weighted-average grant date fair value of options granted		$ 11.04	$ 4.24		$ 2.02
Unamortized stock-based compensation expense		$ 40,400
Weighted-average period over which unrecognized compensation cost is expected to be recognized		2 years 10 months 24 days
Options exercised		$ 12,232	$ 1,702	[1]	$ 693	[1]
Stock warrants outstanding		0	126,000
Class of warrant exercise price		$ 4.50
Class of warrant exercisable period		5 years
Class of warrant exercisable period ends		2023-09
Warrants issued or issuable		0
2019 Employee Stock Purchase Plan
Class of Stock [Line Items]
Number of shares of common stock reserved for issuance	1,400,000
Potential percentage of additional number of shares reserved for issuance each year	1.00%
Unamortized stock-based compensation expense		$ 1,500
Weighted-average period over which unrecognized compensation cost is expected to be recognized		12 months
Total number of shares issued	14,000,000
Percentage of employee compensation, maximum	15.00%
Fair value of option granted percentage	85.00%
Maximum
Class of Stock [Line Items]
Issuance of warrants		5,600,000
Incentive Stock
Class of Stock [Line Items]
Exercise price of incentive stock options granted under the Option Plans		100.00%
Nonstatutory Stock Options
Class of Stock [Line Items]
Exercise price of incentive stock options granted under the Option Plans		85.00%
Restricted Stock Units
Class of Stock [Line Items]
Unamortized stock-based compensation expense		$ 55,200
Weighted-average period over which unrecognized compensation cost is expected to be recognized		3 years 9 months 18 days
Fair value of shares vested		$ 200
Restricted Stock Units | Minimum
Class of Stock [Line Items]
Vest over requisite period		1 year
Restricted Stock Units | Maximum
Class of Stock [Line Items]
Vest over requisite period		4 years
2019 Equity Incentive Plan
Class of Stock [Line Items]
Number of shares of common stock reserved for issuance	7,100,000
Potential percentage of additional number of shares reserved for issuance each year	5.00%
Equity Incentive Plans
Class of Stock [Line Items]
Number of common shares available for issuance		6,187,598	11,370,068		6,337,779
[1]	Amounts have been adjusted to reflect the adoption of Accounting Standards Update No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash.

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Stock Option Activities (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Number of Shares Outstanding
Beginning balance	10,027
Options granted	2,937
Options exercised	(3,291)
Options cancelled/forfeited/expired	(654)
Ending balance	9,019	10,027
Vested and expected to vest at June 30, 2020	8,135
Vested and exercisable at June 30, 2020	2,584
Weighted average average exercise price per share
Weighted average average exercise price per share, Beginning balance	$ 5.90
Weighted average average exercise price per share, Options granted	18.78
Weighted average average exercise price per share, Options exercised	4.09
Weighted average average exercise price per share, Options cancelled/forfeited/expired	8.83
Weighted average average exercise price per share, Ending balance	10.53	$ 5.90
Weighted average average exercise price per share, Vested and expected to vest at June 30, 2020	10.34
Weighted average average exercise price per share, Vested and exercisable at June 30, 2020	$ 6.23
Weighted average remaining contractual term (in years)
Weighted average remaining contractual term (in years)	8 years 3 months 3 days	8 years 4 months 13 days
Vested and expected to vest at June 30, 2020	8 years 2 months 15 days
Vested and exercisable at June 30, 2020	7 years 1 month 13 days
Aggregate intrinsic value	$ 718,563	$ 75,223
Vested and expected to vest at June 30, 2020	649,756
Vested and exercisable at June 30, 2020	$ 217,024

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Fair Value of Options Granted Black-Scholes Option-Pricing Model Assumptions (Details)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Equity [Abstract]
Expected term (in years)	6 years 3 months	6 years 3 months	6 years 3 months
Expected volatility, minimum	50.00%	46.00%	45.00%
Expected volatility, maximum	100.60%	51.00%	55.10%
Risk-free interest rate, minimum	0.35%	2.19%	2.05%
Risk-free interest rate, maximum	1.88%	2.89%	2.89%
Expected dividend yield	0.00%	0.00%	0.00%

Stockholders' Equity - Summar_3

Stockholders' Equity - Summary of RSU Activity (Details) - Restricted Stock Units shares in Thousands	12 Months Ended
	Jun. 30, 2020$ / sharesshares
Number of Shares Outstanding
Number of shares, Granted | shares	1,153
Number of shares, Vested | shares	(8)
Number of shares Cancelled / forfeited / expired | shares	(4)
Ending balance | shares	1,141
Weighted average grant date fair value
Weighted average grant date fair value, Granted | $ / shares	$ 66.11
Weighted average grant date fair value, Vested | $ / shares	62.78
Weighted average grant date fair value, Cancelled / forfeited / expired | $ / shares	58.83
Weighted average grant date fair value, Ending balance | $ / shares	$ 66.16

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Fair Value of ESPP Offerings (Details)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	6 years 3 months	6 years 3 months	6 years 3 months
Risk-free interest rate, minimum	0.35%	2.19%	2.05%
Risk-free interest rate, maximum	1.88%	2.89%	2.89%
Expected dividend yield	0.00%	0.00%	0.00%
2019 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	50.00%
Risk-free interest rate, minimum	1.47%
Risk-free interest rate, maximum	1.56%
Expected dividend yield	0.00%
2019 Employee Stock Purchase Plan | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	6 months
2019 Employee Stock Purchase Plan | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	1 year 2 months 1 day

Stockholders' Equity - Summar_4

Stockholders' Equity - Summary of Stock Based Compensation Expense from Stock Options, RSUs and ESPP (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based Compensation	$ 18,064	$ 4,082	$ 1,545
Cost of Revenue
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based Compensation	1,257	331	78
Research and Development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based Compensation	5,495	1,128	429
Sales and Marketing
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based Compensation	2,777	922	508
General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based Compensation	$ 8,535	$ 1,701	$ 530

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Warrants Issued and Outstanding (Details) - $ / shares	Jun. 30, 2020	Jun. 30, 2019
Class of Warrant or Right [Line Items]
Number of warrants issued and outstanding	0	126,000
Weighted average exercise price	$ 4.50
Common Stock
Class of Warrant or Right [Line Items]
Number of warrants issued and outstanding		63,000
Expiration date		Apr. 30, 2024
Common Stock | Weighted Average
Class of Warrant or Right [Line Items]
Weighted average exercise price		$ 6.40
Series B Preferred Stock
Class of Warrant or Right [Line Items]
Expiration date		Jan. 31, 2020
Series B Preferred Stock | Weighted Average
Class of Warrant or Right [Line Items]
Weighted average exercise price		$ 1.46
Series B Preferred Stock | Warrants to Purchase Common Stock
Class of Warrant or Right [Line Items]
Number of warrants issued and outstanding		51,000
Series D Preferred Stock
Class of Warrant or Right [Line Items]
Expiration date		May 31, 2020
Series D Preferred Stock | Weighted Average
Class of Warrant or Right [Line Items]
Weighted average exercise price		$ 2.50
Series D Preferred Stock | Warrants to Purchase Common Stock
Class of Warrant or Right [Line Items]
Number of warrants issued and outstanding		12,000

Stockholders' Equity - Schedu_3

Stockholders' Equity - Schedule of Outstanding Redeemable Convertible Preferred Stock Warrant Liabilities (Details)	Jun. 30, 2019	Jun. 30, 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Expected term (in years)	6 months 29 days	1 year 14 days
Expected Volatility
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial liabilities, measurement input	0.510	0.460
Risk-Free Interest Rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial liabilities, measurement input	0.020	0.023
Expected Dividend Yield
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial liabilities, measurement input	0	0

Other Income, Net - Schedule of

Other Income, Net - Schedule of Other Income, Net (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Other Income Disclosure Nonoperating [Abstract]
Interest income									$ 4,092	$ 3,207	$ 1,058
Interest expense									(229)	(825)	(427)
Revaluation of warrant liabilities and forfeiture of warrants									(717)
Other									14	(49)	1
Total	$ 764	$ 1,397	$ 360	$ 639	$ 596	$ 734	$ 686	$ 317	$ 3,160	$ 2,333	$ 632

Income Taxes - Components of Lo

Income Taxes - Components of Loss before Provision for (Benefit from) Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Domestic									$ (31,038)	$ (7,470)	$ (7,185)
Foreign									0	0	0
Loss before provision for (benefit from) income taxes	$ (9,497)	$ (8,318)	$ (7,578)	$ (5,645)	$ (4,557)	$ (2,104)	$ 96	$ (905)	$ (31,038)	$ (7,470)	$ (7,185)

Income Taxes - Components of Pr

Income Taxes - Components of Provision for (Benefit from) Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Current:
Federal									$ 0	$ 0	$ 0
State									53	20	10
Foreign									0	0	0
Total current									53	20	10
Deferred:
Federal										(142)
State										(34)
Foreign									0	0	0
Total current										(176)
Provision for (benefit from) income taxes	$ 1	$ 1	$ 0	$ 51	$ (59)	$ (70)	$ (6)	$ (21)	$ 53	$ (156)	$ 10

Income Taxes - Difference betwe

Income Taxes - Difference between Income Taxes Computed At Federal Statutory Rate and Provision for (Benefit from) Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Expected benefit at U.S. federal statutory rate									$ (6,518)	$ (1,569)	$ (1,976)
Stock-based compensation									(31,047)	390	297
Federal and state R&D credits, net of unrecognized benefit									(6,411)	(2,111)	(909)
Deferred tax asset re-measurement due to Tax Reform											12,227
Change in valuation allowance									43,716	3,029	(9,753)
Other									313	105	124
Provision for (benefit from) income taxes	$ 1	$ 1	$ 0	$ 51	$ (59)	$ (70)	$ (6)	$ (21)	$ 53	$ (156)	$ 10

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Deferred tax assets:
Accruals and reserves	$ 3,933	$ 1,631
Deferred revenue	904	84
Property and equipment	128
Stock-based compensation	2,542	700
Net operating loss carryforwards	68,694	26,690
Research and development credits	12,226	5,649
Total deferred tax assets before valuation allowance	88,427	34,754
Valuation allowance	(85,569)	(33,253)
Deferred tax assets	2,858	1,501
Deferred tax liabilities:
Deferred contract costs	(2,182)	(1,229)
Property and equipment		(143)
Other	(676)	(129)
Total deferred tax liabilities	(2,858)	(1,501)
Net deferred tax assets (liabilities)	$ 0	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Income Taxes [Line Items]
Change in valuation allowance	$ 52,300	$ 3,700	$ 10,000
Federal and state net operating loss carryforwards expiration year	2026
Research and development tax credit carryforwards expiration description	federal tax credits will expire at various dates beginning in 2027.
Unrecognized tax benefits related to federal and California R&D credits	$ 5,787	$ 2,692	1,457	$ 835
Federal Tax
Income Taxes [Line Items]
Net operating loss carryforwards	265,800
Research and development tax credit carryforwards	10,600
Federal Tax | Internal Revenue Service
Income Taxes [Line Items]
Net operating loss carryforwards	166,000
State Tax
Income Taxes [Line Items]
Net operating loss carryforwards	203,500
Research and development tax credit carryforwards	$ 8,700
ASC 606
Income Taxes [Line Items]
Change in valuation allowance			$ (700)

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Balance at the beginning of the year	$ 2,692	$ 1,457	$ 835
Additions based upon tax positions related to the current year	3,078	1,028
Additions based upon tax positions related to the prior year	17	207	622
Balance at the end of the year	$ 5,787	$ 2,692	$ 1,457

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	May 31, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Commitment And Contingencies [Line Items]
Non-cancelable operating leases expiration month and year		2031-06
Rent expense		$ 5.3	$ 2.3	$ 1.5
Strategic partnership agreement period		10 years
Online bill payment products expiration month and year		2027-06
Service agreement with existing financial institution partner expanded period	5 years
Agreed amount of payment to partner under service agreement	$ 12
Amount payable to partner under service agreement		$ 10
Sales and Marketing Expenses
Commitment And Contingencies [Line Items]
Strategic partnership agreement expenses		$ 2	$ 2.3	$ 2.3

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Future Minimum Lease Payments Under Non-cancelable Operating Leases (Details) $ in Thousands	Jun. 30, 2020USD ($)
Commitments And Contingencies Disclosure [Abstract]
2021	$ 1,192
2022	7,029
2023	7,244
2024	7,458
2025	7,504
Thereafter	46,607
Total	$ 77,034

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Future Payments Under Other Agreements (Details) $ in Thousands	Jun. 30, 2020USD ($)
Commitments And Contingencies Disclosure [Abstract]
2021	$ 13,000
2022	2,000
2023	2,000
2024	2,000
2025	2,000
Thereafter	3,500
Total	$ 24,500

Net Loss Per Share Attributab_3

Net Loss Per Share Attributable To Common Stockholders - Schedule of Calculation of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Numerator:
Net loss attributable to common stockholders									$ (31,091)	$ (7,314)	$ (7,195)
Denominator:
Basic and diluted									44,106	7,797	7,155
Net loss per share attributable to common stockholders:
Basic and diluted	$ (0.13)	$ (0.11)	$ (0.34)	$ (0.69)	$ (0.56)	$ (0.26)	$ 0	$ (0.12)	$ (0.70)	$ (0.94)	$ (1.01)

Net Loss Per Share Attributab_4

Net Loss Per Share Attributable To Common Stockholders - Summary of Potentially Dilutive Securities Excluded from Diluted Net Loss Per Share Calculation (Details) - shares shares in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities, potentially dilutive securities excluded from calculation of diluted net loss per share	10,160	62,588	52,862
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities, potentially dilutive securities excluded from calculation of diluted net loss per share	9,019	10,027	5,616
Restricted Stock Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities, potentially dilutive securities excluded from calculation of diluted net loss per share	1,141
Warrants to Purchase Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities, potentially dilutive securities excluded from calculation of diluted net loss per share		63
Convertible Redeemable Preferred Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities, potentially dilutive securities excluded from calculation of diluted net loss per share		52,435	47,131
Warrants to Purchase Redeemable Convertible Preferred Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities, potentially dilutive securities excluded from calculation of diluted net loss per share		63	115

Quarterly Results of Operatio_3

Quarterly Results of Operations (Unaudited) - Schedule of Consolidated Statements of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Revenue
Total revenue	$ 42,110	$ 41,230	$ 39,080	$ 35,180	$ 31,684	$ 28,244	$ 25,999	$ 22,424	$ 157,600	$ 108,351	$ 64,865
Cost of revenue	10,100	10,110	9,787	9,147	8,488	7,914	7,175	6,341	39,144	29,918	19,372
Gross profit	32,010	31,120	29,293	26,033	23,196	20,330	18,824	16,083	118,456	78,433	45,493
Operating expenses
Research and development	14,929	13,969	12,992	11,515	9,447	7,899	6,154	5,424	53,405	28,924	17,986
Sales and marketing	11,796	11,802	11,491	10,267	9,949	7,365	6,856	5,944	45,356	30,114	19,290
General and administrative	15,546	15,064	12,748	10,535	8,953	7,904	6,404	5,937	53,893	29,198	16,034
Total operating expenses	42,271	40,835	37,231	32,317	28,349	23,168	19,414	17,305	152,654	88,236	53,310
Loss from operations	(10,261)	(9,715)	(7,938)	(6,284)	(5,153)	(2,838)	(590)	(1,222)	(34,198)	(9,803)	(7,817)
Other income, net	764	1,397	360	639	596	734	686	317	3,160	2,333	632
Loss before provision for (benefit from) income taxes	(9,497)	(8,318)	(7,578)	(5,645)	(4,557)	(2,104)	96	(905)	(31,038)	(7,470)	(7,185)
Provision for (benefit from) income taxes	1	1	0	51	(59)	(70)	(6)	(21)	53	(156)	10
Net loss	$ (9,498)	$ (8,319)	$ (7,578)	$ (5,696)	$ (4,498)	$ (2,034)	$ 102	$ (884)	$ (31,091)	$ (7,314)	$ (7,195)
Net (loss) income per share attributable to common stockholders, basic and diluted	$ (0.13)	$ (0.11)	$ (0.34)	$ (0.69)	$ (0.56)	$ (0.26)	$ 0	$ (0.12)	$ (0.70)	$ (0.94)	$ (1.01)
Subscription and Transaction Fees
Revenue
Total revenue	$ 38,801	$ 36,092	$ 32,964	$ 28,548	$ 25,225	$ 22,112	$ 20,444	$ 18,170	$ 136,405	$ 85,951	$ 56,992
Interest on Funds Held for Customers
Revenue
Total revenue	$ 3,309	$ 5,138	$ 6,116	$ 6,632	$ 6,459	$ 6,132	$ 5,555	$ 4,254	$ 21,195	$ 22,400	$ 7,873