0001564590-20-051826 | 10-Q | XBRL Viewer

$ 43,944

^[1]

24,776

$ 68,720

AmOne Corp [Member]

Post-closing adjustments for net assets acquired

$ 23,032

138

^[1]

7,514

Contingent consideration

CloudControlMedia, LLC [Member]

$ 30,684

Post-closing adjustments for net assets acquired

$ 8,281

(72)

^[1]

6,671

Contingent consideration

3,553

MyBankTracker.com, LLC [Member]

$ 18,433

Post-closing adjustments for net assets acquired

$ 4,511

^[1]

3,708

Contingent consideration

1,505

$ 9,724

[1]	The post-closing payment is net of imputed interest of $486 thousand for AmOne, $829 thousand for CCM and $292 thousand for MBT

Segment Information

3 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Segment Information

15. Segment Information

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker, its chief executive officer, reviews financial information presented on a consolidated basis and no expense or operating income is evaluated at a segment level. Given the consolidated level of review by the Company’s chief executive officer, the Company operates as one reportable segment.

The following tables set forth net revenue and long-lived assets by geographic area (in thousands):

	Three Months Ended
	September 30,
	2020		2019
Net revenue:
United States	$	136,413	$	124,186
International		2,856		2,428
Total net revenue	$	139,269	$	126,614

	September 30,		June 30,
	2020		2020
Property and equipment, net:
United States	$	5,911	$	5,477
International		206		180
Total property and equipment, net	$	6,117	$	5,657

	September 30,		June 30,
	2020		2020
Other intangible assets, net:
United States	$	58,619	$	28,174
International		—		—
Total other intangible assets, net	$	58,619	$	28,174

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net - Changes in Carrying Amount of Goodwill (Detail)
$ in Thousands

3 Months Ended

Sep. 30, 2020

USD ($)

Goodwill, beginning balance

$ 80,677

Goodwill acquired (1)

38,451

^[1]

Goodwill disposed (2)

(3,212)

^[2]

Goodwill, ending balance

$ 115,916

[1]	Represents goodwill acquired associated with the acquisition of Modernize completed in the first quarter of fiscal year 2021
[2]	Represents goodwill disposed associated with the divestiture of the Education client vertical completed in the first quarter of fiscal year 2021. See Note 7, Divestitures, for more information.

Leases - Additional Information (Detail) $ in Millions	Sep. 30, 2020 USD ($)
Lease Cost [Abstract]
Lessee, operating lease, renewal term	5 years
Future principal contractual obligations for operating lease commitments undiscounted lease liability excess amount	$ 0.9

Leases- Components of Lease Expense (Detail) - USD ($)
$ in Thousands

3 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Lease Cost [Abstract]

Operating lease expense

$ 1,308

$ 1,004

Short-term lease expense

253

288

Variable lease expense

^[1]

148

144

Total lease expense

$ 1,709

$ 1,436

[1]	Variable lease expense for the three months ended September 30, 2020 and 2019 primarily included common area maintenance charges.

Acquisitions - Summary of Preliminary Allocation of Purchase Price to Fair Values of Identifiable Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Jul. 01, 2020	Jun. 30, 2020
Business Acquisition [Line Items]
Goodwill	$ 115,916		$ 80,677
Modernize, Inc. [Member]
Business Acquisition [Line Items]
Cash and cash equivalents		$ 3,638
Accounts receivable, net		4,999
Operating lease right-of-use assets		4,702
Other intangible assets		33,700
Other assets		1,386
Total identifiable assets acquired		48,425
Accrued liabilities		4,909
Operating lease liabilities		4,896
Deferred tax liabilities		7,886
Other liabilities		465
Total identifiable liabilities assumed		18,156
Net identifiable assets acquired		30,269
Goodwill		38,451
Net assets acquired		$ 68,720

Stock Benefit Plans - Schedule of Weighted Average Assumptions (Detail) - Stock options [Member] - $ / shares	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	4 years 6 months	4 years 6 months
Expected volatility	62.00%	57.00%
Expected dividend yield	0.00%	0.00%
Risk-free interest rate	0.30%	1.50%
Grant date fair value	$ 5.81	$ 5.11

Income Taxes

3 Months Ended

Sep. 30, 2020

Income Tax Disclosure [Abstract]

Income Taxes

10. Income Taxes

On June 29, 2020, the Assembly Bill 85 (AB 85) was signed into law as part of the California 2020 Budget Act, which temporarily suspends the use of California net operating losses and imposes a cap on the amount of business incentive tax credits that companies can utilize against their net income for tax years 2020, 2021, and 2022. The Company analyzed the provisions of AB 85 and determined there was an immaterial impact on its provision for income taxes for the current period and will continue to evaluate the impact, if any, AB 85 may have on the Company’s condensed consolidated financial statements and disclosures.

The Company performed an assessment on the likelihood of realizing the benefits of its deferred tax assets. As of September 30, 2020, the Company has not recorded any significant valuation allowance adjustments based on the information and evidence available at the time. However, if there are unfavorable changes to actual operating results or to projections of future income, the Company may determine that it is more likely than not that such deferred tax assets may not be realizable.

Additionally, in the event the Company experiences an ownership change within the meaning of Section 382 of the Internal Revenue Code (“IRC”), the Company’s ability to utilize net operating losses, tax credits and other tax attributes may be limited.

The Company’s tax provision for income taxes for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items, if any. Each quarter the Company updates its estimate of the annual effective tax rate and makes a year-to-date adjustment to the provision. The Company recorded a provision for income taxes of $4.6 million and $0.2 million for the three months ended September 30, 2020 and 2019.

Prepaid Expense And Other Assets [Abstract]

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Acquisitions - Summary of Fair Values of Identifiable Intangible Assets Acquired and Estimated Useful Lives (Detail) - Modernize, Inc. [Member] $ in Thousands	Jul. 01, 2020 USD ($)
Business Acquisition [Line Items]
Estimated Fair Value	$ 33,700
Customer/publisher/advertiser relationships [Member]
Business Acquisition [Line Items]
Estimated Fair Value	$ 21,300
Estimated Useful Life	9 years
Content [Member]
Business Acquisition [Line Items]
Estimated Fair Value	$ 800
Estimated Useful Life	1 year 6 months
Website/trade/domain names [Member]
Business Acquisition [Line Items]
Estimated Fair Value	$ 5,300
Estimated Useful Life	15 years
Acquired technology and others [Member]
Business Acquisition [Line Items]
Estimated Fair Value	$ 6,300
Estimated Useful Life	4 years

Fair Value Measurements

3 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

5. Fair Value Measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the reporting date. The Company estimates and categorizes the fair value of its financial instruments by applying the following hierarchy:

Level 1 — Valuations based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to directly access.

Level 2 — Valuations based on quoted prices for similar assets or liabilities; valuations for interest-bearing securities based on non-daily quoted prices in active markets; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities.

Level 3 — Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

The following table presents the fair value of the Company’s financial instruments (in thousands):

	September 30, 2020								June 30, 2020
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	1,670	$	—	$	—	$	1,670	$	1,668	$	—	$	—	$	1,668
Total	$	1,670	$	—	$	—	$	1,670	$	1,668	$	—	$	—	$	1,668
Liabilities:
Post-closing payments related to acquisitions	$	—	$	34,159	$	—	$	34,159	$	—	$	9,045	$	—	$	9,045
Contingent consideration related to acquisitions		—		—		2,822		2,822		—		—		3,170		3,170
Total	$	—	$	34,159	$	2,822	$	36,981	$	—	$	9,045	$	3,170	$	12,215

Reported as:
Cash and cash equivalents							$	1,670							$	1,668
Other Liabilities:
Current							$	12,339							$	6,734
Noncurrent								24,642								5,481
Total							$	36,981							$	12,215

There were no transfers between Level 1, Level 2, and Level 3 during the periods presented.

Cash Equivalents

The valuation technique used to measure the fair value of money market funds included using quoted prices in active markets for identical assets and are classified as Level 1 within the fair value hierarchy.

Post-Closing Payments Related to Acquisitions

The post-closing payments are future payments related to the Company’s acquisition of Modernize completed in the first quarter of fiscal year 2021, and the acquisitions of AmOne Corp (“AmOne”), CloudControlMedia, LLC (“CCM”) and MyBankTracker.com, LLC (“MBT”) completed in fiscal year 2019. As the fair value of the Company’s post-closing payments was determined based on installments stipulated in the terms of the acquisition agreements and discount rates observable in the market, the post-closing payments are classified as Level 2 within the fair value hierarchy. See Note 8, Acquisitions, for further details related to the acquisitions.

Contingent Consideration Related to Acquisitions

The contingent consideration consists of estimated future payments related to the Company’s acquisition of CCM. The fair value of the contingent consideration is determined using the real options technique which incorporates various estimates, including projected net revenue and gross margin that is subject to the contingent consideration payment, a volatility factor applied to net revenue and gross margin based on year-on-year growth in net revenue and gross margin of comparable companies and discount rates. As certain of these inputs are not observable in the market, the contingent consideration is classified as a Level 3 instrument. Significant changes in the projected net revenue and gross margin, or discount rates would have a material impact on the fair value of the contingent consideration. See Note 8, Acquisitions, for further details related to the acquisition.

The following table represents the change in the contingent consideration during the three months ended September 30, 2020 (in thousands):

	Three Months Ended
	September 30, 2020
Balance at the beginning of period	$	3,170
Changes in fair value during the period		—
Payments made during the period		(348	)
Balance at the end of period	$	2,822

Stockholders' Equity

3 Months Ended

Sep. 30, 2020

Equity [Abstract]

Stockholders' Equity

13. Stockholders’ Equity

Stock Repurchases

In July 2017, the Board of Directors authorized a stock repurchase program to repurchase up to 905,000 outstanding shares of its common stock. In October 2017, the Board of Directors increased the number of outstanding shares that may be repurchased to 966,000 shares. There were no repurchases made during fiscal year 2020 and the three months ended September 30, 2020. As of September 30, 2020, the number of shares that remains available for repurchase is 903,636 shares.

The Company’s accounting policy upon the retirement of treasury stock is to deduct its par value from common stock and reduce additional paid-in capital by the amount recorded in additional paid-in capital when the stock was originally issued.

Prepaid Expenses and Other Assets

3 Months Ended

Sep. 30, 2020

Prepaid Expenses and Other Assets

6. Prepaid Expenses and Other Assets

In fiscal year 2016, the Company entered into a 10-year partnership agreement with a large online customer acquisition marketing company focused on the U.S. insurance industry to be its exclusive click monetization partner for the majority of its insurance categories. The agreement included a one-time upfront cash payment of $10.0 million, which was being amortized on a straight-line basis over the life of the contract. As of July 1, 2020, the contract was terminated and the unamortized remainder of the upfront cash payment became refundable. The Company had recorded $5.3 million as of September 30, 2020 and June 30, 2020 within prepaid expenses and other assets on the Company’s condensed consolidated balance sheets. Amortization expense was $0.3 million for the three months ended September 30, 2019.

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 4,614	$ 152

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Fair Value Measurements - Additional Information (Detail) - USD ($)	Sep. 30, 2020	Jun. 30, 2020
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Abstract]
Fair value, assets, level 1 to level 2 transfers, amount	$ 0	$ 0
Fair value, assets, level 2 to level 1 transfers, amount	0	0
Fair value, liabilities, level 1 to level 2 transfers, amount	0	0
Fair value, liabilities, level 2 to level 1 transfers, amount	0	0
Fair value liabilities level 3 to level 1 transfers, amount	0	0
Fair value assets level 3 to level 1 transfers, amount	$ 0	$ 0

Revenue - Schedule of Disaggregation of Net Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Disaggregation Of Revenue [Line Items]
Net revenue	$ 139,269	$ 126,614
Financial Services [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	94,213	92,878
Education [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	11,587	17,398
Other [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	$ 33,469	$ 16,338

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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Schedule of Weighted Average Assumptions

Prepaid Expenses and Other Assets - Additional Information (Detail) - Partnership Agreement [Member] - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2019	Jun. 30, 2016	Sep. 30, 2020	Jun. 30, 2020
Prepaid expenses and other assets [Line Items]
Partnership agreement		10 years
Upfront cash payment		$ 10.0
Prepaid expenses and other assets			$ 5.3	$ 5.3
Amortization expense	$ 0.3

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Sep. 30, 2020	Nov. 04, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Trading Symbol	QNST
Entity Registrant Name	QuinStreet, Inc.
Entity Central Index Key	0001117297
Current Fiscal Year End Date	--06-30
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity File Number	001-34628
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		52,893,279
Entity Tax Identification Number	77-0512121
Entity Address, Address Line One	950 Tower Lane
Entity Address, Address Line Two	6th Floor
Entity Address, City or Town	Foster City
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94404
City Area Code	650
Local Phone Number	578-7700
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common Stock, par value $0.001 per share

Stock Benefit Plans (Tables)

3 Months Ended

Sep. 30, 2020

Stock options [Member]

The weighted-average Black-Scholes model assumptions for the three months ended September 30, 2020 and 2019 were as follows:

	Three Months Ended
	September 30,
	2020			2019
Expected term (in years)		4.5			4.5
Expected volatility		62	%		57	%
Expected dividend yield		—			—
Risk-free interest rate		0.3	%		1.5	%
Grant date fair value	$	5.81		$	5.11

Commitments and Contingencies

3 Months Ended

Sep. 30, 2020

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

12. Commitments and Contingencies

Guarantor Arrangements

The Company has agreements whereby it indemnifies its officers and directors for certain events or occurrences while the officer or director is, or was, serving at the Company’s request in such capacity. The term of the indemnification period is for the officer or director’s lifetime. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, the Company has a director and officer insurance policy that limits its exposure and enables the Company to recover a portion of any future amounts under certain circumstances and subject to deductibles and exclusions. As a result of its insurance policy coverage, the Company believes the estimated fair value of these indemnification agreements is not material. Accordingly, the Company had no liabilities recorded for these agreements as of September 30, 2020 and June 30, 2020.

In the ordinary course of its business, the Company from time to time enters into standard indemnification provisions in its agreements with its clients. Pursuant to these provisions, the Company may be obligated to indemnify its clients for certain losses suffered or incurred, including losses arising from violations of applicable law by the Company or by its third-party publishers, losses arising from actions or omissions of the Company or its third-party publishers, and for third-party claims that a Company product infringed upon any United States patent, copyright or other intellectual property rights. Where practicable, the Company limits its liabilities under such indemnities. Subject to these limitations, the term of such indemnification provisions is generally coterminous with the corresponding agreements but may extend for the duration of the applicable statute of limitations after termination of the agreement. The potential amount of future payments to defend lawsuits or settle indemnified claims under these indemnification provisions is generally limited and the Company believes the estimated fair value of these indemnity provisions is not material. Accordingly, the Company had no liabilities recorded for these agreements as of September 30, 2020 and June 30, 2020.

Letters of Credit

The Company has a $0.5 million letter of credit agreement with a financial institution that is used as collateral for the Company’s corporate headquarters’ operating lease. The letter of credit automatically renews annually without amendment unless cancelled by the financial institution within 30 days of the annual expiration date.

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Statement Of Financial Position [Abstract]
Accounts receivable, net, Allowance	$ 10,442	$ 10,177
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	52,773,842	52,209,813
Common stock, shares outstanding	52,773,842	52,209,813

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]
Beginning Balance at Jun. 30, 2019	$ 222,829	$ 50	$ 289,768	$ (366)	$ (66,623)
Beginning Balance, Shares at Jun. 30, 2019		50,518,460
Issuance of common stock upon exercise of stock options	1,790	$ 0	1,790	0	0
Issuance of common stock upon exercise of stock options, Shares		260,061
Release of restricted stock, net of share settlement	0	$ 1	(1)	0	0
Release of restricted stock, net of share settlement, Shares		323,818
Stock-based compensation expense	4,667	$ 0	4,667	0	0
Withholding taxes related to release of restricted stock, net of share settlement	(2,358)	0	(2,358)	0	0
Net income	1,132	0	0	0	1,132
Other comprehensive income (loss)	31	0	0	31	0
Ending Balance at Sep. 30, 2019	228,091	$ 51	293,866	(335)	(65,491)
Ending Balance, Shares at Sep. 30, 2019		51,102,339
Beginning Balance at Jun. 30, 2020	$ 255,944	$ 52	304,650	(237)	(48,521)
Beginning Balance, Shares at Jun. 30, 2020	52,209,813	52,209,813
Issuance of common stock upon exercise of stock options	$ 778	$ 0	778	0	0
Issuance of common stock upon exercise of stock options, Shares		185,857
Release of restricted stock, net of share settlement	0	$ 1	(1)	0	0
Release of restricted stock, net of share settlement, Shares		378,172
Stock-based compensation expense	4,797	$ 0	4,797	0	0
Withholding taxes related to release of restricted stock, net of share settlement	(2,874)	0	(2,874)	0	0
Net income	14,681	0	0	0	14,681
Other comprehensive income (loss)	(38)	0	0	(38)	0
Ending Balance at Sep. 30, 2020	$ 273,288	$ 53	$ 307,350	$ (275)	$ (33,840)
Ending Balance, Shares at Sep. 30, 2020	52,773,842	52,773,842

Fair Value Measurements - Schedule of Fair Value of Financial Instruments Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Assets:
Total Assets	$ 1,670	$ 1,668
Liabilities:
Total Liabilities	36,981	12,215
Cash and cash equivalents	1,670	1,668
Other Liabilities:
Other Liabilities	36,981	12,215
Current [Member]
Other Liabilities:
Other Liabilities	12,339	6,734
Non Current [Member]
Other Liabilities:
Other Liabilities	24,642	5,481
Post-closing payments related to acquisitions [Member]
Liabilities:
Total Liabilities	34,159	9,045
Contingent consideration related to acquisitions [Member]
Liabilities:
Total Liabilities	2,822	3,170
Money market funds [Member]
Assets:
Total Assets	1,670	1,668
Level 1 [Member]
Assets:
Total Assets	1,670	1,668
Liabilities:
Total Liabilities	0	0
Level 1 [Member] \| Post-closing payments related to acquisitions [Member]
Liabilities:
Total Liabilities	0	0
Level 1 [Member] \| Contingent consideration related to acquisitions [Member]
Liabilities:
Total Liabilities	0	0
Level 1 [Member] \| Money market funds [Member]
Assets:
Total Assets	1,670	1,668
Level 2 [Member]
Assets:
Total Assets	0	0
Liabilities:
Total Liabilities	34,159	9,045
Level 2 [Member] \| Post-closing payments related to acquisitions [Member]
Liabilities:
Total Liabilities	34,159	9,045
Level 2 [Member] \| Contingent consideration related to acquisitions [Member]
Liabilities:
Total Liabilities	0	0
Level 2 [Member] \| Money market funds [Member]
Assets:
Total Assets	0	0
Level 3 [Member]
Assets:
Total Assets	0	0
Liabilities:
Total Liabilities	2,822	3,170
Level 3 [Member] \| Post-closing payments related to acquisitions [Member]
Liabilities:
Total Liabilities	0	0
Level 3 [Member] \| Contingent consideration related to acquisitions [Member]
Liabilities:
Total Liabilities	2,822	3,170
Level 3 [Member] \| Money market funds [Member]
Assets:
Total Assets	$ 0	$ 0

Revenue (Tables)

3 Months Ended

Sep. 30, 2020

Revenue From Contract With Customer [Abstract]

Schedule of Disaggregation of Net Revenue

The following table shows the Company’s net revenue disaggregated by vertical (in thousands):

	Three Months Ended
	September 30,
	2020		2019
Net revenue:
Financial Services	$	94,213	$	92,878
Education		11,587		17,398
Other		33,469		16,338
Total net revenue	$	139,269	$	126,614

Schedule of Contract Liabilities from Contracts with Clients

The following table provides information about contract liabilities from the Company’s contracts with its clients (in thousands):

	September 30,		June 30,
	2020		2020
Deferred revenue	$	338	$	73
Client deposits		702		700
Total	$	1,040	$	773

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2020 USD ($) Client	Sep. 30, 2019 Client	Jun. 30, 2020 USD ($) Client
Summary Of Significant Accounting Policies [Line Items]
Accounts receivable, net \| $	$ 69,131		$ 64,472
Accounts receivable, net, Allowance \| $	$ 10,442		$ 10,177
Customer Concentration Risk [Member] \| Net revenue [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of clients accounted for more than 10% of net revenue	1	1
Concentration risk percentage accounted by major clients	26.00%	18.00%
Number of other clients accounted for more than 10% of net revenue	0	0
Customer Concentration Risk [Member] \| Accounts Receivable [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of other clients accounted for more than 10% of net accounts receivable	0	0	0
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Client Two [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk percentage accounted by major clients	17.00%	0.00%	17.00%
Number of clients accounted for 10% or more than 10% of net accounts receivable	1		1

Goodwill and Intangible Assets, Net

3 Months Ended

Sep. 30, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

9. Goodwill and Intangible Assets, Net

Goodwill

The changes in the carrying amount of goodwill for the three months ended September 30, 2020 were as follows (in thousands):

	Goodwill
Balance as of June 30, 2020	$	80,677
Goodwill acquired ⁽¹⁾		38,451
Goodwill disposed ⁽²⁾		(3,212	)
Balance as of September 30, 2020	$	115,916

⁽¹⁾	Represents goodwill acquired associated with the acquisition of Modernize completed in the first quarter of fiscal year 2021. See Note 8, Acquisitions, for more information.

⁽²⁾	Represents goodwill disposed associated with the divestiture of the Education client vertical completed in the first quarter of fiscal year 2021. See Note 7, Divestitures, for more information.

Intangible Assets, Net

Intangible assets, net, consisted of the following (in thousands):

	September 30, 2020							June 30, 2020
	Gross					Net		Gross					Net
	Carrying		Accumulated			Carrying		Carrying		Accumulated			Carrying
	Amount		Amortization			Amount		Amount		Amortization			Amount
Customer/publisher/advertiser relationships	$	81,659	$	(37,230	)	$	44,429	$	61,324	$	(36,213	)	$	25,111
Content		43,702		(43,035	)		667		55,430		(55,430	)		—
Website/trade/domain names		25,347		(18,102	)		7,245		23,059		(20,717	)		2,342
Acquired technology and others		33,843		(27,565	)		6,278		27,941		(27,220	)		721
Total	$	184,551	$	(125,932	)	$	58,619	$	167,754	$	(139,580	)	$	28,174

Amortization of intangible assets was $3.1 million and $1.9 million for the three months ended September 30, 2020 and 2019.

Future amortization expense for the Company’s intangible assets as of September 30, 2020 was as follows (in thousands):

Fiscal Year Ending June 30,	Amortization
2021 (remaining nine months)	$	8,292
2022		10,051
2023		9,188
2024		8,291
2025		6,306
Thereafter		16,491
Total	$	58,619

Net Income per Share (Tables)

3 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Calculation of Basic and Diluted Net Income per Share

The following table presents the calculation of basic and diluted net income per share:

	Three Months Ended
	September 30,
	2020		2019
	(In thousands, except per share data)
Numerator:
Basic and Diluted:
Net income	$	14,681	$	1,132
Denominator:
Basic:
Weighted-average shares of common stock used in computing basic net income per share		52,492		50,845
Diluted:
Weighted-average shares of common stock used in computing basic net income per share		52,492		50,845
Weighted-average effect of dilutive securities:
Stock options		879		1,286
Restricted stock units		898		1,195
Weighted-average shares of common stock used in computing diluted net income per share		54,269		53,326
Net income per share:
Basic	$	0.28	$	0.02
Diluted	$	0.27	$	0.02
Securities excluded from weighted-average shares used in computing diluted net income per share because the effect would have been anti-dilutive ⁽¹⁾		186		728

⁽¹⁾	These weighted-shares relate to anti-dilutive stock options and restricted stock units as calculated using the treasury stock method and could be dilutive in the future.

Acquisitions

3 Months Ended

Sep. 30, 2020

Business Combinations [Abstract]

Acquisitions

8. Acquisitions

Fiscal year 2021

Modernize, Inc.

On July 1, 2020, the Company completed the acquisition of Modernize, a leading home improvement performance marketing company in the home services client vertical, to broaden its customer and media relationships. In exchange for all the outstanding shares of Modernize, the Company paid $43.9 million in cash upon closing (including $3.9 million cash for net assets acquired subject to post-closing adjustments) and will make $27.5 million in post-closing payments, payable in equal annual installments over a five year period, with the first installment payable twelve months following the date of closing.

The following table summarizes the consideration as of the acquisition date (in thousands):

	Estimated Fair Value
Cash	$	43,944
Post-closing payments, net of imputed interest of $2,724		24,776
Total	$	68,720

The acquisition was accounted for as a business combination and the results of operations of Modernize have been included in the Company’s results of operations as of July 1, 2020. The Company expensed all transaction costs in the period in which they were incurred. The Company allocated the purchase price to identifiable assets acquired and liabilities assumed based on their estimated fair values. The fair value of the assets acquired and liabilities assumed was determined by the Company and in doing so management engaged a third-party valuation specialist to assist with the measurement of the fair value of identifiable intangible assets. The estimated fair value of the identifiable assets acquired and liabilities assumed in the acquisition was based on management’s best estimates. The fair value of the customer relationships was determined using the multi-period excess earnings income approach. The fair value of trade names and acquired technology was determined using the relief-from-royalty method. The fair value of content was determined using the cost approach. The excess of the purchase price over the aggregate fair value of the identifiable assets acquired was recorded as goodwill and is primarily attributable to synergies the Company expects to achieve related to the acquisition. The goodwill is not deductible for tax purposes.

The following table summarizes the preliminary allocation of the purchase price to the fair values of the identifiable assets acquired and liabilities assumed as of the acquisition date (in thousands):

	Estimated Fair Value
Cash and cash equivalents	$	3,638
Accounts receivable, net		4,999
Operating lease right-of-use assets		4,702
Other intangible assets		33,700
Other assets		1,386
Total identifiable assets acquired		48,425

Accrued liabilities		4,909
Operating lease liabilities		4,896
Deferred tax liabilities		7,886
Other liabilities		465
Total identifiable liabilities assumed		18,156

Net identifiable assets acquired		30,269
Goodwill		38,451
Net assets acquired	$	68,720

The following table summarizes the fair values of the identifiable intangible assets acquired and the estimated useful lives as of the acquisition date (in thousands):

	Estimated Fair Value		Estimated Useful Life
Customer/publisher/advertiser relationships	$	21,300	9 years
Content		800	1.5 years
Website/trade/domain names		5,300	15 years
Acquired technology and others		6,300	4 years
Total	$	33,700

The Company is still finalizing the allocation of the purchase price to the individual assets acquired. Accordingly, these preliminary estimates are subject to change during the measurement period, which is the period subsequent to the acquisition date during which the acquirer may adjust the provisional amounts recognized for a business combination, not to exceed one year form the acquisition date. The final purchase price allocation, which may include changes in the allocations within intangible assets and between intangible assets and goodwill, as well as changes in the estimated useful lives of the intangible assets, will be determined when the Company has completed the detailed review of underlying inputs and assumptions used in its preliminary purchase price allocation.

The unaudited pro forma financial information in the table below summarizes the combined results of operations for the Company and Modernize as though Modernize had been acquired as of the beginning of fiscal year 2020. The unaudited pro forma financial information is presented for illustrative purposes only and do not necessarily reflect what the combined company’s results of operations would have been had the acquisition occurred as of the beginning of fiscal year 2020, nor is it necessarily indicative of the future results of operations of the combined company.

	Three Months Ended
	September 30,
	2020		2019
	(In thousands)
Net revenue	$	139,269	$	142,930
Net income		14,851		2,068

The pro forma financial information for the three months ended September 30, 2020 includes the elimination of $170 thousand of nonrecurring acquisition costs incurred by the Company that are directly related to the acquisition.

Fiscal year 2020

There was no significant business acquisition completed in fiscal year 2020.

Fiscal year 2019

AmOne Corp.

On October 1, 2018, the Company completed the purchase of AmOne, an online performance marketing company in the financial services client vertical, to broaden its publisher and customer relationships. In exchange for all outstanding shares of AmOne, the Company paid $23.0 million in cash upon closing (including $2.7 million cash for net assets acquired subject to post-closing adjustments) and will make $8.0 million in post-closing payments, payable in equal semi-annual installments over a two year period, with the first installment paid six months following the date of closing.

CloudControlMedia, LLC

On April 15, 2019, the Company completed the purchase of CCM, a marketing services company in the education client vertical, to broaden its customer relationships. In exchange for all the outstanding shares of CCM, the Company paid $8.3 million in cash upon closing (including $0.8 million cash for net assets acquired subject to post-closing adjustments) and will make a series of future payments following the acquisition date. The $7.5 million post-closing payments are payable in cash in equal semi-annual installments over a four year period, with the first installment paid six months following the date of closing. The contingent consideration is payable for five years following the date of closing and is calculated every June 30 and December 31 for the preceding six months.

MyBankTracker.com, LLC

On May 14, 2019, the Company completed the purchase of MBT, a leading personal finance website to broaden its customer relationships. In exchange for all the outstanding shares of MBT, the Company paid $4.5 million in cash upon closing (including $1.5 million cash for net assets acquired) and will make a series of future payments following the acquisition date. The $4.0 million post-closing payments are payable in cash in equal semi-annual installments over a two year period, with the first installment paid twelve months following the date of closing. The contingent consideration is calculated semi-annually for the preceding six months beginning on December 31, 2019 and ending on June 30, 2023. In the third quarter of fiscal year 2020, the Company reached an agreement with the seller and paid off the outstanding balance owed with respect to the contingent consideration.

The following table summarizes the consideration for each acquisition as of the acquisition dates (in thousands):

	AmOne		CCM			MBT
Cash	$	23,032	$	8,281		$	4,511
Post-closing adjustments for net assets acquired		138		(72	)		—
Post-closing payments, net of imputed interest ⁽¹⁾		7,514		6,671			3,708
Contingent consideration		—		3,553			1,505
Total	$	30,684	$	18,433		$	9,724

⁽¹⁾	The post-closing payment is net of imputed interest of $486 thousand for AmOne, $829 thousand for CCM and $292 thousand for MBT.

Stock Benefit Plans

3 Months Ended

Sep. 30, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock Benefit Plans

14. Stock Benefit Plans

Stock Incentive Plans

The Company may grant nonstatutory stock options (“NQSOs”), restricted stock, restricted stock units (“RSUs”), stock appreciation rights, performance-based stock awards, and other forms of equity compensation, as well as performance cash awards, under its 2010 Equity Incentive Plan (the “2010 Incentive Plan”). The Company may grant NQSOs and RSUs to non-employee directors under the 2010 Non-Employee Directors’ Stock Award Plan (the “Directors’ Plan”). Prior to fiscal year 2016, the Company granted RSUs with a service condition (“service-based RSUs”). In fiscal year 2016, the Company also began granting to employees RSUs with a market condition (“market-based RSUs”) that requires the Company’s stock price achieve a specified price above the grant date stock price before it can be eligible for service vesting conditions. In fiscal year 2019, the Company began granting to employees RSUs with a performance condition (“performance-based RSUs”) that vest variably subject to the achievement of certain revenue growth and adjusted EBITDA targets (“performance targets”). The Company evaluates the portion of the awards that are probable to vest quarterly until the performance targets are met. To date, the Company has issued ISOs, NQSOs, service-based RSUs, market-based RSUs and performance-based RSUs under its stock incentive plans.

As of September 30, 2020, 23,125,612 shares were reserved and 14,566,594 shares were available for issuance under the 2010 Incentive Plan; 4,598,838 shares were reserved and 2,413,306 shares were available for issuance under the Directors’ Plan.

Stock-Based Compensation

The Company estimates the fair value of stock options at the date of grant using the Black-Scholes option-pricing model. Options are granted with an exercise price equal to the closing price of the Company’s common stock on the date of grant.

The weighted-average Black-Scholes model assumptions for the three months ended September 30, 2020 and 2019 were as follows:

	Three Months Ended
	September 30,
	2020			2019
Expected term (in years)		4.5			4.5
Expected volatility		62	%		57	%
Expected dividend yield		—			—
Risk-free interest rate		0.3	%		1.5	%
Grant date fair value	$	5.81		$	5.11

The Company estimates the fair value of service-based RSUs and performance-based RSUs based on the closing price of the Company’s common stock on the grant date. As some of the components that comprise the performance targets have not been fully established, a grant date as defined by ASC 718 has not been determined. The Company will re-measure the compensation expense associated with the performance-based RSUs at each reporting date based on the closing price of the Company’s common stock at each reporting date until the grant date has been established. Compensation expense is amortized net of estimated forfeitures on a straight-line basis over the requisite service period of the stock-based compensation awards.

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Income Statement [Abstract]

Net revenue

$ 139,269

$ 126,614

Cost of revenue

^[1]

122,231

113,189

Gross profit

17,038

13,425

Operating expenses:

Product development

^[1]

4,891

3,556

Sales and marketing

^[1]

2,643

2,363

General and administrative

^[1]

6,581

5,825

Operating income

2,923

1,681

Interest income

Interest expense

(339)

(212)

Other income (expense), net

16,689

(257)

Income before income taxes

19,295

1,284

Provision for income taxes

(4,614)

(152)

Net income

$ 14,681

$ 1,132

Net income per share:

Basic

$ 0.28

$ 0.02

Diluted

$ 0.27

$ 0.02

Weighted-average shares used in computing net income per share:

Basic

52,492

50,845

Diluted

54,269

53,326

[1]	^{Cost of revenue and operating expenses include stock-based compensation expense as follows:}

Leases - Maturities of Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Lease Cost [Abstract]
2021 (remaining nine months)	$ 4,530
2022	5,930
2023	5,504
2024	3,450
2025	724
Thereafter	33
Total minimum lease payments	20,171
Less imputed interest	(2,436)
Present value of net minimum lease payments	17,735
Operating lease liabilities:
Current	5,615
Noncurrent	$ 12,120	$ 8,692

Leases

3 Months Ended

Sep. 30, 2020

Leases [Abstract]

Leases

11. Leases

The Company has operating leases primarily for its office facilities. The leases expire at various dates through fiscal year 2026, some of which include options to renew, with renewal terms of up to 5 years. The Company does not include any renewal options in the lease terms for calculating lease liability, as the renewal options allow the Company to maintain operational flexibility and the Company is not reasonably certain that it will exercise these renewal options at the time of the lease commencement.

The components of lease expense for the three months ended September 30, 2020 and 2019 were as follows (in thousands):

	Three Months Ended
	September 30,
	2020		2019
Operating lease expense	$	1,308	$	1,004
Short-term lease expense		253		288
Variable lease expense ⁽¹⁾		148		144
Total lease expense	$	1,709	$	1,436

⁽¹⁾	Variable lease expense for the three months ended September 30, 2020 and 2019 primarily included common area maintenance charges.

Supplemental information related to operating leases was as follows (in thousands, except lease term and discount rate):

	Three Months Ended
	September 30,
	2020			2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for operating leases	$	1,494		$	1,172

Lease liabilities arising from obtaining right-of-use assets
Operating leases	$	6,247		$	—

Weighted average remaining lease term - operating leases	3.4 years			4.6 years
Weighted average discount rate - operating leases		5.0	%		4.5	%

The implicit rate within each lease is not readily determinable and therefore the Company uses its incremental borrowing rate at the lease commencement date to determine the present value of the lease payments. The determination of the incremental borrowing rate requires judgement. The Company determined its incremental borrowing rate for each lease using indicative bank borrowing rates, adjusted for various factors including level of collateralization, term and currency to align with the terms of a lease.

Maturities of operating lease liabilities as of September 30, 2020 were as follows (in thousands):

Fiscal Year Ending June 30,	Amount
2021 (remaining nine months)	$	4,530
2022		5,930
2023		5,504
2024		3,450
2025		724
Thereafter		33
Total minimum lease payments	$	20,171
Less imputed interest		(2,436	)
Present value of net minimum lease payments	$	17,735
Operating lease liabilities:
Current		5,615
Noncurrent		12,120
Total	$	17,735

Total future principal contractual obligations for operating lease commitments exceeded the undiscounted lease liability by $0.9 million as of September 30, 2020, primarily because the lease liability excluded short-term lease payments (due to the adoption of the short-term lease exemption).

Stockholders' Equity - Additional Information (Detail) - shares	3 Months Ended	12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Oct. 31, 2017	Jul. 31, 2017
Maximum [Member]
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, number of outstanding shares authorized to repurchase			966,000	905,000
July 2017 Stock Repurchase Program [Member]
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, number of shares repurchased	0	0
Stock repurchase program, remaining available for repurchase	903,636

Acquisitions (Tables)

3 Months Ended

Sep. 30, 2020

Business Combinations [Abstract]

Schedule of Consideration

The following table summarizes the consideration as of the acquisition date (in thousands):

	Estimated Fair Value
Cash	$	43,944
Post-closing payments, net of imputed interest of $2,724		24,776
Total	$	68,720

The following table summarizes the consideration for each acquisition as of the acquisition dates (in thousands):

	AmOne		CCM			MBT
Cash	$	23,032	$	8,281		$	4,511
Post-closing adjustments for net assets acquired		138		(72	)		—
Post-closing payments, net of imputed interest ⁽¹⁾		7,514		6,671			3,708
Contingent consideration		—		3,553			1,505
Total	$	30,684	$	18,433		$	9,724

⁽¹⁾	The post-closing payment is net of imputed interest of $486 thousand for AmOne, $829 thousand for CCM and $292 thousand for MBT.

Summary of Preliminary Allocation of Purchase Price to Fair Values of Identifiable Assets Acquired and Liabilities Assumed

	Estimated Fair Value
Cash and cash equivalents	$	3,638
Accounts receivable, net		4,999
Operating lease right-of-use assets		4,702
Other intangible assets		33,700
Other assets		1,386
Total identifiable assets acquired		48,425

Accrued liabilities		4,909
Operating lease liabilities		4,896
Deferred tax liabilities		7,886
Other liabilities		465
Total identifiable liabilities assumed		18,156

Net identifiable assets acquired		30,269
Goodwill		38,451
Net assets acquired	$	68,720

Summary of Fair Values of Identifiable Intangible Assets Acquired and Estimated Useful Lives

The following table summarizes the fair values of the identifiable intangible assets acquired and the estimated useful lives as of the acquisition date (in thousands):

	Estimated Fair Value		Estimated Useful Life
Customer/publisher/advertiser relationships	$	21,300	9 years
Content		800	1.5 years
Website/trade/domain names		5,300	15 years
Acquired technology and others		6,300	4 years
Total	$	33,700

Summary of Unaudited Pro Forma Financial Information Combined Results of Operations

	Three Months Ended
	September 30,
	2020		2019
	(In thousands)
Net revenue	$	139,269	$	142,930
Net income		14,851		2,068

The Company

3 Months Ended

Sep. 30, 2020

Organization [Abstract]

The Company

1. The Company

QuinStreet, Inc. (the “Company”) is a leader in performance marketplace technologies and services for the financial services and home services industries. The Company was incorporated in California in April 1999 and reincorporated in Delaware in December 2009. The Company specializes in customer acquisition for clients in high value, information-intensive markets or “verticals,” including financial services, education and home services. The corporate headquarters are located in Foster City, California, with additional offices throughout the United States and India. The majority of the Company’s operations and revenue are in North America.

Revenue

3 Months Ended

Sep. 30, 2020

Revenue From Contract With Customer [Abstract]

Revenue

3. Revenue

Disaggregation of Revenue

The following table shows the Company’s net revenue disaggregated by vertical (in thousands):

	Three Months Ended
	September 30,
	2020		2019
Net revenue:
Financial Services	$	94,213	$	92,878
Education		11,587		17,398
Other		33,469		16,338
Total net revenue	$	139,269	$	126,614

Contract Balances

The following table provides information about contract liabilities from the Company’s contracts with its clients (in thousands):

	September 30,		June 30,
	2020		2020
Deferred revenue	$	338	$	73
Client deposits		702		700
Total	$	1,040	$	773

The Company’s contract liabilities result from payments received in advance of revenue recognition and advance consideration received from clients, which precede the Company’s satisfaction of the associated performance obligation. The increase in the liability balances during the three months ended September 30, 2020 related to advance consideration received from clients of $2.3 million, and recognition of deferred revenue of $0.2 million upon acquisition of Modernize, Inc. (“Modernize”), offset by revenue recognized of $2.2 million. See Note 8, Acquisitions, for further details related to the acquisition.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Goodwill And Intangible Assets Disclosure [Abstract]

Commitments and Contingencies - Additional Information (Detail) - USD ($)	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Estimated fair value of indemnification agreements	$ 0	$ 0
Estimated fair value of indemnity provisions	0	$ 0
Letter of credit agreement with a financial institution that is used as collateral for the Company's corporate headquarters' operating lease	$ 500,000
Letter of credit automatically renews annually without amendment on the annual expiration date	30 days

Acquisitions - Schedule of Consideration (Parenthetical) (Detail) - USD ($) $ in Thousands	Jul. 01, 2020	May 14, 2019	Apr. 15, 2019	Oct. 01, 2018
Modernize, Inc. [Member]
Business Acquisition [Line Items]
Post-closing payments, imputed interest	$ 2,724
AmOne Corp [Member]
Business Acquisition [Line Items]
Post-closing payments, imputed interest				$ 486
CloudControlMedia, LLC [Member]
Business Acquisition [Line Items]
Post-closing payments, imputed interest			$ 829
MyBankTracker.com, LLC [Member]
Business Acquisition [Line Items]
Post-closing payments, imputed interest		$ 292

Goodwill and Intangible Assets, Net (Tables)

3 Months Ended

Sep. 30, 2020

Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for the three months ended September 30, 2020 were as follows (in thousands):

	Goodwill
Balance as of June 30, 2020	$	80,677
Goodwill acquired ⁽¹⁾		38,451
Goodwill disposed ⁽²⁾		(3,212	)
Balance as of September 30, 2020	$	115,916

⁽¹⁾	Represents goodwill acquired associated with the acquisition of Modernize completed in the first quarter of fiscal year 2021. See Note 8, Acquisitions, for more information.

⁽²⁾	Represents goodwill disposed associated with the divestiture of the Education client vertical completed in the first quarter of fiscal year 2021. See Note 7, Divestitures, for more information.

Intangible Assets

Intangible Assets, Net

Intangible assets, net, consisted of the following (in thousands):

	September 30, 2020							June 30, 2020
	Gross					Net		Gross					Net
	Carrying		Accumulated			Carrying		Carrying		Accumulated			Carrying
	Amount		Amortization			Amount		Amount		Amortization			Amount
Customer/publisher/advertiser relationships	$	81,659	$	(37,230	)	$	44,429	$	61,324	$	(36,213	)	$	25,111
Content		43,702		(43,035	)		667		55,430		(55,430	)		—
Website/trade/domain names		25,347		(18,102	)		7,245		23,059		(20,717	)		2,342
Acquired technology and others		33,843		(27,565	)		6,278		27,941		(27,220	)		721
Total	$	184,551	$	(125,932	)	$	58,619	$	167,754	$	(139,580	)	$	28,174

Amortization Expense

Future amortization expense for the Company’s intangible assets as of September 30, 2020 was as follows (in thousands):

Fiscal Year Ending June 30,	Amortization
2021 (remaining nine months)	$	8,292
2022		10,051
2023		9,188
2024		8,291
2025		6,306
Thereafter		16,491
Total	$	58,619

Leases - Supplemental Information Related to Operating Leases (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for operating leases	$ 1,494	$ 1,172
Lease liabilities arising from obtaining right-of-use assets
Operating leases	$ 6,247	$ 0
Weighted average remaining lease term - operating leases	3 years 4 months 24 days	4 years 7 months 6 days
Weighted average discount rate - operating leases	5.00%	4.50%

Fair Value Measurements (Tables)

3 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Financial Instruments Measured at Fair Value on Recurring Basis

The following table presents the fair value of the Company’s financial instruments (in thousands):

	September 30, 2020								June 30, 2020
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	1,670	$	—	$	—	$	1,670	$	1,668	$	—	$	—	$	1,668
Total	$	1,670	$	—	$	—	$	1,670	$	1,668	$	—	$	—	$	1,668
Liabilities:
Post-closing payments related to acquisitions	$	—	$	34,159	$	—	$	34,159	$	—	$	9,045	$	—	$	9,045
Contingent consideration related to acquisitions		—		—		2,822		2,822		—		—		3,170		3,170
Total	$	—	$	34,159	$	2,822	$	36,981	$	—	$	9,045	$	3,170	$	12,215

Reported as:
Cash and cash equivalents							$	1,670							$	1,668
Other Liabilities:
Current							$	12,339							$	6,734
Noncurrent								24,642								5,481
Total							$	36,981							$	12,215

Schedule of Change in Contingent Consideration

The following table represents the change in the contingent consideration during the three months ended September 30, 2020 (in thousands):

	Three Months Ended
	September 30, 2020
Balance at the beginning of period	$	3,170
Changes in fair value during the period		—
Payments made during the period		(348	)
Balance at the end of period	$	2,822

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 14,681	$ 1,132
Other comprehensive (loss) income:
Foreign currency translation adjustment	(38)	31
Total other comprehensive (loss) income	(38)	31
Comprehensive income	$ 14,643	$ 1,163

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Amount after tax and reclassification adjustments of other comprehensive income (loss).

Net Revenue and Long-Lived Assets by Geographic Area

Fair Value Measurements - Schedule of Change in Contingent Consideration (Detail) - Level 3 [Member] $ in Thousands	3 Months Ended
	Sep. 30, 2020 USD ($)
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Balance at the beginning of period	$ 3,170
Changes in fair value during the period	0
Payments made during the period	(348)
Balance at the end of period	$ 2,822

Segment Information (Tables)

3 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

The following tables set forth net revenue and long-lived assets by geographic area (in thousands):

	Three Months Ended
	September 30,
	2020		2019
Net revenue:
United States	$	136,413	$	124,186
International		2,856		2,428
Total net revenue	$	139,269	$	126,614

	September 30,		June 30,
	2020		2020
Property and equipment, net:
United States	$	5,911	$	5,477
International		206		180
Total property and equipment, net	$	6,117	$	5,657

	September 30,		June 30,
	2020		2020
Other intangible assets, net:
United States	$	58,619	$	28,174
International		—		—
Total other intangible assets, net	$	58,619	$	28,174

Divestitures - Additional Information (Detail) - USD ($) $ in Thousands				3 Months Ended
	Aug. 31, 2020	Apr. 30, 2020	Feb. 14, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019
Restructuring Cost And Reserve [Line Items]
Proceeds from divestitures of businesses	$ 20,000	$ 3,300		$ 20,730			$ 0
Purchase price of agreement			$ 12,900
Proceeds from sale of business			10,000
QuinStreet Brasil Online Marketing e Midia Ltda ("QSB") and VEMM, LLC ("VEMM") \| Euro-Demand Do Brasil Serviços de Geração de Leads Ltda (“EDB”)
Restructuring Cost And Reserve [Line Items]
Proceeds from sale of business						$ 1,100
Secured Promissory Note
Restructuring Cost And Reserve [Line Items]
Secured promissory note, receivable			$ 2,900
Other Income (Expense)
Restructuring Cost And Reserve [Line Items]
Gain (loss) on disposition of operation				$ 16,600	$ 2,800	$ 12,000

Segment Information - Net Revenue and Long-Lived Assets by Geographic Area (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020
Net revenue:
Total net revenue	$ 139,269	$ 126,614
Property and equipment, net:
Total property and equipment, net	6,117		$ 5,657
Other intangible assets, net:
Total other intangible assets, net	58,619		28,174
United States [Member]
Net revenue:
Total net revenue	136,413	124,186
Property and equipment, net:
Total property and equipment, net	5,911		5,477
Other intangible assets, net:
Total other intangible assets, net	58,619		28,174
International [Member]
Net revenue:
Total net revenue	2,856	$ 2,428
Property and equipment, net:
Total property and equipment, net	206		180
Other intangible assets, net:
Total other intangible assets, net	$ 0		$ 0