0001564590-23-001636 | 10-Q | XBRL Viewer

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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Dec. 31, 2022	Jan. 31, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
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		53,805,821
Entity Tax Identification Number	77-0512121
Entity Address, Address Line One	950 Tower Lane
Entity Address, Address Line Two	6th Floor
Entity Address, City or Town	Foster City
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94404
City Area Code	650
Local Phone Number	578-7700
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common Stock, par value $0.001 per share

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2022	Jun. 30, 2022
Current assets:
Cash and cash equivalents	$ 79,104	$ 96,439
Accounts receivable, net of allowances and reserves of $2,007 and $1,536 as of December 31, 2022 and June 30, 2022, respectively	71,412	81,429
Prepaid expenses and other assets	5,214	4,924
Total current assets	155,730	182,792
Property and equipment, net	13,069	9,311
Operating lease right-of-use assets	4,989	6,801
Goodwill	121,141	121,141
Other intangible assets, net	44,170	49,696
Deferred tax assets, noncurrent	46,543	44,220
Other assets, noncurrent	6,251	5,948
Total assets	391,893	419,909
Current liabilities:
Accounts payable	37,840	42,410
Accrued liabilities	46,846	54,459
Deferred revenue	10	341
Other liabilities	11,478	12,369
Total current liabilities	96,174	109,579
Operating lease liabilities, noncurrent	1,741	3,858
Other liabilities, noncurrent	14,182	20,472
Total liabilities	112,097	133,909
Commitments and contingencies (See Note 10)	0	0
Stockholders' equity:
Common stock: $0.001 par value; 100,000,000 shares authorized; 53,804,545 and 53,356,875 shares issued and outstanding as of December 31, 2022 and June 30, 2022	54	53
Additional paid-in capital	322,720	316,422
Accumulated other comprehensive loss	(268)	(261)
Accumulated deficit	(42,710)	(30,214)
Total stockholders' equity	279,796	286,000
Total liabilities and stockholders' equity	$ 391,893	$ 419,909

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Jun. 30, 2022
Statement Of Financial Position [Abstract]
Accounts receivable, net of allowances and reserves	$ 2,007	$ 1,536
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	53,804,545	53,356,875
Common stock, shares outstanding	53,804,545	53,356,875

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

3 Months Ended

6 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2022

Dec. 31, 2021

Income Statement [Abstract]

Net revenue

$ 134,048

$ 125,331

$ 277,641

$ 284,939

Cost of revenue

^[1]

125,510

115,554

256,755

257,059

Gross profit

8,538

9,777

20,886

27,880

Operating expenses:

Product development

^[1]

7,174

4,861

14,000

9,486

Sales and marketing

^[1]

3,166

2,834

6,266

5,740

General and administrative

^[1]

7,370

9,635

14,689

16,269

Operating loss

(9,172)

(7,553)

(14,069)

(3,615)

Interest income

Interest expense

(213)

(267)

(439)

(540)

Other (expense) income, net

(9)

(32)

Loss before income taxes

(9,382)

(7,818)

(14,521)

(4,149)

Benefit from income taxes

1,403

2,190

2,025

1,614

Net loss

$ (7,979)

$ (5,628)

$ (12,496)

$ (2,535)

Net loss per share:

Basic

$ (0.15)

$ (0.10)

$ (0.23)

$ (0.05)

Diluted

^[2]

$ (0.15)

$ (0.10)

$ (0.23)

$ (0.05)

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

Basic

53,709

54,384

53,529

54,189

Diluted

53,709

54,384

53,529

54,189

[1]	Cost of revenue and operating expenses include stock-based compensation expense as follows:
[2]	Diluted net loss per share for the three and six months ended December 31, 2022 does not reflect any potential common stock relating to stock options, restricted stock units, or shares issuable related to the ESPP due to net losses incurred. The assumed issuance of any additional shares would be anti-dilutive.

Condensed Consolidated Statements of Operations (Parenthetical) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Cost of revenue [Member]
Stock-based compensation	$ 2,113	$ 2,267	$ 4,232	$ 4,088
Product development [Member]
Stock-based compensation	765	688	1,530	1,294
Sales and marketing [Member]
Stock-based compensation	658	727	1,310	1,459
General and administrative [Member]
Stock-based compensation	$ 1,941	$ 1,891	$ 3,675	$ 3,638

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (7,979)	$ (5,628)	$ (12,496)	$ (2,535)
Other comprehensive loss:
Foreign currency translation adjustment	(2)	0	(7)	0
Total other comprehensive loss	(2)	0	(7)	0
Comprehensive loss	$ (7,981)	$ (5,628)	$ (12,503)	$ (2,535)

- Definition

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

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- Definition

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

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+ Details

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]
Beginning Balance at Jun. 30, 2021	$ 295,148	$ 54		$ 320,315	$ (255)	$ (24,966)
Beginning Balance, Shares at Jun. 30, 2021		53,786,363
Issuance of common stock upon exercise of stock options	1,040			1,040
Issuance of common stock upon exercise of stock options, Shares		245,649
Release of restricted stock, net of share settlement		$ 1		(1)
Release of restricted stock, net of share settlement, Shares		514,119
Stock-based compensation expense	10,493			10,493
Withholding taxes related to release of restricted stock, net of share settlement	(5,501)			(5,501)
Net loss	(2,535)					(2,535)
Other comprehensive income (loss)	0
Ending Balance at Dec. 31, 2021	298,645	$ 55		326,346	(255)	(27,501)
Ending Balance, Shares at Dec. 31, 2021		54,546,131
Beginning Balance at Sep. 30, 2021	299,695	$ 54		321,769	(255)	(21,873)
Beginning Balance, Shares at Sep. 30, 2021		54,208,614
Issuance of common stock upon exercise of stock options	645			645
Issuance of common stock upon exercise of stock options, Shares		153,445
Release of restricted stock, net of share settlement		$ 1		(1)
Release of restricted stock, net of share settlement, Shares		184,072
Stock-based compensation expense	5,587			5,587
Withholding taxes related to release of restricted stock, net of share settlement	(1,654)			(1,654)
Net loss	(5,628)					(5,628)
Other comprehensive income (loss)	0
Ending Balance at Dec. 31, 2021	298,645	$ 55		326,346	(255)	(27,501)
Ending Balance, Shares at Dec. 31, 2021		54,546,131
Beginning Balance at Jun. 30, 2022	$ 286,000	$ 53		316,422	(261)	(30,214)
Beginning Balance, Shares at Jun. 30, 2022	53,356,875	53,356,875
Issuance of common stock upon exercise of stock options	$ 476			476
Issuance of common stock upon exercise of stock options, Shares		83,680
Release of restricted stock, net of share settlement		$ 1		(1)
Release of restricted stock, net of share settlement, Shares		511,720
Issuance of common stock under the employee stock purchase plan	1,324			1,324
Issuance of common stock under the employee stock purchase plan, Shares		137,914
Stock-based compensation expense	10,775			10,775
Withholding taxes related to release of restricted stock, net of share settlement	(3,226)			(3,226)
Repurchase of common stock	(3,050)		$ (3,050)
Repurchase of common stock, Shares			(285,644)
Retirement of treasury stock			$ 3,050	(3,050)
Retirement of treasury stock, Shares		(285,644)	285,644
Net loss	(12,496)					(12,496)
Other comprehensive income (loss)	(7)				(7)
Ending Balance at Dec. 31, 2022	$ 279,796	$ 54		322,720	(268)	(42,710)
Ending Balance, Shares at Dec. 31, 2022	53,804,545	53,804,545
Beginning Balance at Sep. 30, 2022	$ 283,256	$ 54		318,199	(266)	(34,731)
Beginning Balance, Shares at Sep. 30, 2022		53,549,167
Issuance of common stock upon exercise of stock options	240			240
Issuance of common stock upon exercise of stock options, Shares		45,825
Release of restricted stock, net of share settlement, Shares		209,553
Stock-based compensation expense	5,491			5,491
Withholding taxes related to release of restricted stock, net of share settlement	(1,210)			(1,210)
Net loss	(7,979)					(7,979)
Other comprehensive income (loss)	(2)				(2)
Ending Balance at Dec. 31, 2022	$ 279,796	$ 54		$ 322,720	$ (268)	$ (42,710)
Ending Balance, Shares at Dec. 31, 2022	53,804,545	53,804,545

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash Flows from Operating Activities
Net loss	$ (12,496)	$ (2,535)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	9,032	8,413
Provision for sales returns and doubtful accounts receivable	729	410
Stock-based compensation	10,747	10,479
Change in the fair value of contingent consideration	0	2,698
Non-cash lease expense	(542)	(480)
Deferred income taxes	(2,279)	(1,615)
Other adjustments, net	(138)	233
Changes in assets and liabilities:
Accounts receivable	9,288	23,344
Prepaid expenses and other assets	(588)	1,158
Accounts payable	(4,675)	(6,911)
Accrued liabilities	(5,547)	(15,510)
Deferred revenue	(331)	3
Net cash provided by operating activities	3,200	19,687
Cash Flows from Investing Activities
Capital expenditures	(1,553)	(720)
Internal software development costs	(5,465)	(2,259)
Business acquisitions, net of cash acquired	0	(1,000)
Other investing activities	(120)	0
Net cash used in investing activities	(7,138)	(3,979)
Cash Flows from Financing Activities
Proceeds from exercise of stock options and issuance of common stock under employee stock purchase plan	1,797	1,044
Payment of withholding taxes related to release of restricted stock, net of share settlement	(3,226)	(5,501)
Post-closing payments and contingent consideration related to acquisitions	(7,224)	(6,520)
Repurchase of common stock	(4,731)	0
Net cash used in financing activities	(13,384)	(10,977)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(13)	(14)
Net (decrease) increase in cash, cash equivalents and restricted cash	(17,335)	4,717
Cash, cash equivalents and restricted cash at beginning of period	96,453	110,333
Cash, cash equivalents and restricted cash at end of period	79,118	115,050
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets
Cash and cash equivalents	79,104	115,035
Restricted cash included in other assets, noncurrent	$ 14	$ 15
Restricted Cash, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other assets, noncurrent	Other assets, noncurrent
Total cash, cash equivalents and restricted cash	$ 79,118	$ 115,050
Supplemental Disclosure of Cash Flow Information
Cash paid for income taxes	119	139
Supplemental Disclosure of Non-cash Investing and Financing Activities
Purchases of property and equipment included in accrued liabilities	885	1,361
Post-closing payments unpaid at acquisition date (See Note 6)	0	1,856
Retirement of treasury stock (See Note 11)	$ (3,050)	$ 0

The Company

6 Months Ended

Dec. 31, 2022

Organization [Abstract]

The Company

1. The Company

QuinStreet, Inc. (the “Company”) is a leader in performance marketplaces and technologies 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 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.

Summary of Significant Accounting Policies

6 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Basis of Presentation

Principles of Consolidation

The condensed consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany balances and transactions have been eliminated in consolidation.

Unaudited Interim Financial Information

The accompanying condensed consolidated financial statements and the notes to the condensed consolidated financial statements as of December 31, 2022 and for the three and six months ended December 31, 2022 and 2021 are unaudited. These unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2022, as filed with the SEC on August 22, 2022. The condensed consolidated balance sheet at June 30, 2022 included herein was derived from the audited financial statements as of that date, but does not include all disclosures, including notes, required by GAAP.

The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, include all adjustments (consisting only of normal recurring adjustments) necessary for the fair presentation of the Company’s condensed consolidated balance sheet at December 31, 2022, its condensed consolidated statements of stockholders’ equity, operations and comprehensive loss for the three and six months ended December 31, 2022 and 2021 and condensed consolidated statements of cash flows for the six months ended December 31, 2022 and 2021. The results of operations for the three and six months ended December 31, 2022 are not necessarily indicative of the results to be expected for the fiscal year ending June 30, 2023, or any other future period.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the period. On an ongoing basis, management evaluates these estimates, judgments and assumptions, including those related to revenue recognition, stock-based compensation, goodwill, long-lived assets, contingencies, credit losses of accounts receivable, and income taxes. The Company bases these estimates on historical and anticipated results and trends and on various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. In addition, the Company may engage third-party valuation specialists to assist with the preparation of certain of its valuations. These estimates form the basis for making judgments about the carrying values of assets and liabilities and recorded revenue and expenses that are not readily apparent from other sources. Actual results could differ from those estimates, and such differences could affect the results of operations reported in future periods.

Accounting Policies

The significant accounting policies are described in Note 2, Summary of Significant Accounting Policies, to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2022. There have been no material changes to our significant accounting policies as of and for the six months ended December 31, 2022.

Accounts Receivable and Allowances

The Company’s accounts receivable are derived from clients located principally in the United States. The Company performs ongoing credit evaluation of its customers and generally does not require collateral. The Company makes estimates of expected credit losses for the allowance for doubtful accounts and allowance for unbilled receivables based upon its assessment of various factors, including historical experience, the age of the accounts receivable balances, credit quality of its customers, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect its ability to collect from customers.

The allowance for credit losses on accounts receivable was $0.7 million and $0.1 million as of December 31, 2022 and June 30, 2022. The revenue reserve was $1.3 million and $1.4 million as of December 31, 2022 and June 30, 2022, respectively. The total allowance for credit losses and revenue reserve was $2.0 million and $1.5 million as of December 31, 2022 and June 30, 2022, respectively.

Concentrations of Credit Risk

The Company had one client that accounted for 19% and 22% of net revenue for the three and six months ended December 31, 2022, and 13% and 14% of net revenue for the three and six months ended December 31, 2021. That same client accounted for 16% of net accounts receivable as of June 30, 2022. No other clients accounted for 10% or more of net revenue for the three and six months ended December 31, 2022 or 2021 or 10% or more of net accounts receivable as of December 31, 2022 or June 30, 2022.

Fair Value of Financial Instruments

The Company’s financial instruments consist principally of cash equivalents, accounts receivable, accounts payable, post-closing payments and contingent consideration related to acquisitions. The recorded values of the Company’s accounts receivable and accounts payable approximate their current fair values due to the relatively short-term nature of these accounts.

Cash and Cash Equivalents

All highly liquid investments with maturities of three months or less at the date of purchase are classified as cash equivalents on the Company’s condensed consolidated balance sheets.

Recent Accounting Pronouncements

In October 2021, the FASB issued Accounting Standards Update No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (ASU 2021-08), which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers, as if the acquirer had originated the contracts. The new guidance is effective for the Company in the first quarter of fiscal year 2024 on a prospective basis, with early adoption permitted. The Company is currently assessing the impact the new guidance will have on the consolidated financial statements.

Revenue

6 Months Ended

Dec. 31, 2022

Revenue From Contract With Customer [Abstract]

Revenue

3. Revenue

Disaggregation of Revenue

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

	Three Months Ended				Six Months Ended
	December 31,				December 31,
	2022		2021		2022		2021
Net revenue:
Financial Services	$	89,310	$	90,158	$	184,300	$	208,070
Home Services		42,975		33,820		89,708		73,806
Other Revenue		1,763		1,353		3,633		3,063
Total net revenue	$	134,048	$	125,331	$	277,641	$	284,939

Contract Balances

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

	December 31,		June 30,
	2022		2022
Deferred revenue	$	10	$	341
Client deposits		1,437		1,163
Total	$	1,447	$	1,504

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 changes in the liability balances during the six months ended December 31, 2022 related to advance consideration received from clients of $4.1 million, offset by revenue recognized of $4.2 million.

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
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-Paragraph 13
-Subparagraph (b)(2)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Paragraph 12
-Subparagraph (c)
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+ Details

Net Loss per Share

6 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Net Loss per Share

4. Net Loss per Share

Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by using the weighted-average number of shares of common stock outstanding, including potential dilutive shares of common stock assuming the dilutive effect of outstanding stock options, unvested restricted stock units, and shares issuable related to the employee stock purchase plan (“ESPP”) using the treasury stock method.

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

	Three Months Ended						Six Months Ended
	December 31,						December 31,
	2022			2021			2022			2021
	(In thousands, except per share data)						(In thousands, except per share data)
Numerator:
Basic and Diluted:
Net loss	$	(7,979	)	$	(5,628	)	$	(12,496	)	$	(2,535	)
Denominator:
Basic:
Weighted-average shares of common stock used in computing basic net loss per share		53,709			54,384			53,529			54,189
Diluted:
Weighted average shares of common stock used in computing basic net loss per share		53,709			54,384			53,529			54,189
Weighted average effect of dilutive securities:
Stock options		—			—			—			—
Restricted stock units		—			—			—			—
Shares issuable related to the ESPP		—			—			—			—
Weighted average shares of common stock used in computing diluted net loss per share		53,709			54,384			53,529			54,189
Net loss per share:
Basic	$	(0.15	)	$	(0.10	)	$	(0.23	)	$	(0.05	)
Diluted ⁽¹⁾	$	(0.15	)	$	(0.10	)	$	(0.23	)	$	(0.05	)
Securities excluded from weighted-average shares used in computing diluted net loss per share because the effect would have been anti-dilutive ⁽²⁾		4,363			851			4,299			3,703

⁽¹⁾

Diluted net loss per share for the three and six months ended December 31, 2022 does not reflect any potential common stock relating to stock options, restricted stock units, or shares issuable related to the ESPP due to net losses incurred. The assumed issuance of any additional shares would be anti-dilutive.

⁽²⁾	These weighted shares relate to anti-dilutive stock options, restricted stock units, and shares issuable related to the ESPP as calculated using the treasury stock method and could be dilutive in the future.

Fair Value Measurements

6 Months Ended

Dec. 31, 2022

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):

	December 31, 2022								June 30, 2022
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	1,390	$	—	$	—	$	1,390	$	4,404	$	—	$	—	$	4,404
Total	$	1,390	$	—	$	—	$	1,390	$	4,404	$	—	$	—	$	4,404
Liabilities:
Post-closing payments related to acquisitions	$	—	$	21,579	$	—	$	21,579	$	—	$	28,437	$	—	$	28,437
Contingent consideration related to acquisitions		—		—		1,420		1,420		—		—		1,787		1,787
Total	$	—	$	21,579	$	1,420	$	22,999	$	—	$	28,437	$	1,787	$	30,224

Reported as:
Cash and cash equivalents							$	1,390							$	4,404
Other Liabilities:
Current							$	11,478							$	12,369
Noncurrent								11,521								17,855
Total							$	22,999							$	30,224

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 two immaterial acquisitions completed in fiscal year 2022, and the acquisitions of Modernize, Inc. (“Modernize”), FC Ecosystem, LLC (“FCE”), Mayo Labs, LLC (“Mayo Labs”) and CloudControlMedia, LLC (“CCM”) completed in fiscal years 2021 and 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 6, Acquisitions, for further details related to the acquisitions.

Contingent Consideration Related to Acquisitions

The contingent consideration consists of the estimated fair value of future payments related to the Company’s acquisitions of FCE and CCM. The FCE contingent consideration is based upon revenue and margin targets, and the CCM contingent consideration is based upon revenue targets. The fair value of the contingent consideration is determined using the real options technique which incorporates various estimates, including projected net revenue, projected gross margin, volatility 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, projected gross margin, or discount rates would have a material impact on the fair value of the contingent consideration. Changes in the fair value of the contingent consideration are recorded in earnings on the Company’s condensed consolidated statements of operations. See Note 6, Acquisitions, for further details related to the acquisitions.

The following table represents the changes in the contingent consideration during the three and six months ended December 31, 2022 (in thousands):

	Three Months Ended		Six Months Ended
	December 31, 2022		December 31, 2022
Balance at the beginning of period	$	1,420	$	1,787
Changes in fair value during the period		—		—
Payments made during the period		—		(367	)
Balance at the end of period	$	1,420	$	1,420

Acquisitions

6 Months Ended

Dec. 31, 2022

Business Combinations [Abstract]

Acquisitions

6. Acquisitions

In the first quarter of fiscal year 2021, 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 annual installment paid in the first quarter of fiscal year 2022.

In the second quarter of fiscal year 2022, the Company completed an immaterial acquisition within the home services client vertical. The Company paid $1.0 million in cash upon closing and will make $2.0 million in post-closing payments, payable in equal annual installments over a two-year period, with the first annual installment paid in the second quarter of fiscal year 2023.

In the fourth quarter of fiscal year 2022, the Company completed another immaterial acquisition within the home services client vertical. The Company paid $1.0 million in cash upon closing and will make $1.0 million in post-closing payments, payable in equal annual installments over a two-year period, with the first installment payable twelve months following the date of closing.

Goodwill and Intangible Assets, Net

6 Months Ended

Dec. 31, 2022

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

7. Goodwill and Intangible Assets, Net

Goodwill

As of December 31, 2022 and June 30, 2022, the Company had goodwill of $121.1 million. There were no impairments to goodwill during the six months ended December 31, 2022.

Intangible Assets, Net

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

	December 31, 2022							June 30, 2022
	Gross					Net		Gross					Net
	Carrying		Accumulated			Carrying		Carrying		Accumulated			Carrying
	Amount		Amortization			Amount		Amount		Amortization			Amount
Customer/publisher/advertiser relationships	$	91,630	$	(56,829	)	$	34,801	$	91,629	$	(52,449	)	$	39,180
Content		43,056		(43,056	)		—		43,056		(43,056	)		—
Website/trade/domain names		25,422		(19,149	)		6,273		25,302		(18,853	)		6,449
Acquired technology and others		34,934		(31,838	)		3,096		34,934		(30,867	)		4,067
Total	$	195,042	$	(150,872	)	$	44,170	$	194,921	$	(145,225	)	$	49,696

Amortization of intangible assets was $2.8 million and $5.6 million for the three and six months ended December 31, 2022, and $2.9 million and $6.0 million for the three and six months ended December 31, 2021.

Future amortization expense for the Company’s intangible assets as of December 31, 2022 was as follows (in thousands):

Fiscal Year Ending June 30,	Amortization
2023 (remaining six months)	$	5,490
2024		10,209
2025		8,069
2026		5,444
2027		4,497
Thereafter		10,461
Total	$	44,170

Income Taxes

6 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

8. Income Taxes

In the first quarter of fiscal year 2023, President Biden signed into law the CHIPS and Science Act and the Inflation Reduction Act. The new legislation provides tax incentives as well as imposes a 15% minimum tax on certain corporation’s book income and a 1% excise tax on certain stock buybacks. The new legislation is effective for the Company in the third quarter of fiscal year 2023. The Company is currently assessing the impact the new legislation will have on the consolidated financial statements.

The Company’s 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 benefit from income taxes of $1.4 million and $2.0 million for the three and six months ended December 31, 2022, and a benefit from income taxes of $2.2 million and $1.6 million for the three and six months ended December 31, 2021.

The Company performed an assessment on the likelihood of realizing the benefits of its deferred tax assets. As of December 31, 2022, 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 that 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.

- Definition

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Leases

6 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

9. Leases

The Company has operating leases primarily for its office facilities. The leases expire at various dates through fiscal year 2028, 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 and six months ended December 31, 2022 and 2021 were as follows (in thousands):

	Three Months Ended				Six Months Ended
	December 31,				December 31,
	2022		2021		2022		2021
Operating lease expense	$	1,229	$	1,278	$	2,454	$	2,579
Short-term lease expense		160		157		329		326
Variable lease expense ⁽¹⁾		148		174		291		295
Total lease expense	$	1,537	$	1,609	$	3,074	$	3,200

⁽¹⁾	Variable lease expense for the three and six months ended December 31, 2022 and 2021 primarily included common area maintenance charges.

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

	Six Months Ended
	December 31,
	2022			2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for operating leases	$	2,945		$	3,114

Lease liabilities arising from obtaining right-of-use assets
Operating leases	$	—		$	564

Weighted average remaining lease term - operating leases	1.6 years			2.3 years
Weighted average discount rate - operating leases		5.1	%		5.0	%

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 December 31, 2022 were as follows (in thousands):

Fiscal Year Ending June 30,	Amount
2023 (remaining six months)	$	2,911
2024		3,817
2025		899
2026		146
2027		79
Thereafter		34
Total minimum lease payments		7,886
Less imputed interest		(1,317	)
Present value of net minimum lease payments	$	6,569
Operating lease liabilities:
Current	$	4,828
Noncurrent		1,741
Total	$	6,569

Total future principal contractual obligations for operating lease commitments exceeded the undiscounted lease liability by $0.8 million as of December 31, 2022, primarily because the lease liability excluded short-term lease payments (due to the adoption of the short-term lease exemption).

Commitments and Contingencies

6 Months Ended

Dec. 31, 2022

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

10. 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 December 31, 2022 and June 30, 2022.

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 December 31, 2022 and June 30, 2022.

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.

Stockholders' Equity

6 Months Ended

Dec. 31, 2022

Equity [Abstract]

Stockholders' Equity

11. Stockholders’ Equity

Stock Repurchases

In April 2022, the Board of Directors canceled the prior stock repurchase program that commenced in July 2017 and authorized a new stock repurchase program allowing the repurchase of up to $40.0 million worth of common stock. During the six months ended December 31, 2022, the Company repurchased and retired 285,644 shares of its common stock at an average price of $10.65 per share, at a total cost of $3.1 million (including a broker commission of $0.03 per share). Repurchases under this program took place in the open market and were made under a Rule 10b5-1 plan. The repurchased shares of common stock were recorded as treasury stock and were accounted for under the cost method. As of December 31, 2022, approximately $20.0 million remained available for stock repurchases pursuant to the board authorization.

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.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

Stock Benefit Plans

6 Months Ended

Dec. 31, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock Benefit Plans

12. 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 December 31, 2022, 23,125,612 shares were reserved and 11,563,650 shares were available for issuance under the 2010 Incentive Plan; 4,598,838 shares were reserved and 2,053,997 shares were available for issuance under the Directors’ Plan.

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 and six months ended December 31, 2022 and 2021 were as follows:

	Three Months Ended						Six Months Ended
	December 31,						December 31,
	2022			2021			2022			2021
Expected term (in years)		3.5			3.5			3.5			4.5
Expected volatility		57	%		55	%		56	%		58	%
Expected dividend yield		—			—			—			—
Risk-free interest rate		4.4	%		0.7	%		3.7	%		0.8	%
Grant date fair value	$	5.90		$	6.38		$	5.66		$	8.56

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

Employee Stock Purchase Plan

In October 2021, the Company adopted the 2021 Employee Stock Purchase Plan (the “2021 ESPP”), with 2,164,999 shares of common stock reserved for future issuance under the plan. The 2021 ESPP allows eligible employees to purchase shares of the Company’s common stock at a discount through payroll deductions of up to 15% of their eligible compensation. A participant may purchase up to a maximum of 2,500 shares of the common stock during each purchase period, subject to a maximum of $25,000 worth of shares of the common stock in each calendar year (as determined under applicable tax rules). During the six months ended December 31, 2022, 137,914 shares of common stock were purchased under the 2021 ESPP. As of December 31, 2022, 2,027,085 shares were available for issuance under the 2021 ESPP.

ESPP employee payroll contributions accrued as of December 31, 2022 were $1.0 million, and are included within accrued liabilities on the Company’s condensed consolidated balance sheet. Payroll contributions accrued as of December 31, 2022 will be used to purchase shares at the end of the current ESPP purchase period ending on February 24, 2023.

The fair value of the purchase rights for the ESPP are estimated on the date of grant using the Black-Scholes model with the following assumptions:


	Six Months Ended
	December 31, 2022
Expected term (in years)	0.5 - 2.0
Expected volatility	48% - 57%
Expected dividend yield		—
Risk-free interest rate	2.9% - 3.0%
Grant date fair value	$3.77 - $5.53

Segment Information

6 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Information

13. 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				Six Months Ended
	December 31,				December 31,
	2022		2021		2022		2021
Net revenue:
United States	$	131,891	$	119,154	$	272,705	$	273,642
International		2,157		6,177		4,936		11,297
Total net revenue	$	134,048	$	125,331	$	277,641	$	284,939

	December 31,		June 30,
	2022		2022
Property and equipment, net:
United States	$	12,822	$	9,095
International		247		216
Total property and equipment, net	$	13,069	$	9,311

	December 31,		June 30,
	2022		2022
Other intangible assets, net:
United States	$	44,170	$	49,696
International		—		—
Total other intangible assets, net	$	44,170	$	49,696

- Definition

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.

+ References

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+ Details

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2022
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany balances and transactions have been eliminated in consolidation.
Unaudited Interim Financial Information	Unaudited Interim Financial Information The accompanying condensed consolidated financial statements and the notes to the condensed consolidated financial statements as of December 31, 2022 and for the three and six months ended December 31, 2022 and 2021 are unaudited. These unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2022, as filed with the SEC on August 22, 2022. The condensed consolidated balance sheet at June 30, 2022 included herein was derived from the audited financial statements as of that date, but does not include all disclosures, including notes, required by GAAP. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, include all adjustments (consisting only of normal recurring adjustments) necessary for the fair presentation of the Company’s condensed consolidated balance sheet at December 31, 2022, its condensed consolidated statements of stockholders’ equity, operations and comprehensive loss for the three and six months ended December 31, 2022 and 2021 and condensed consolidated statements of cash flows for the six months ended December 31, 2022 and 2021. The results of operations for the three and six months ended December 31, 2022 are not necessarily indicative of the results to be expected for the fiscal year ending June 30, 2023, or any other future period.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the period. On an ongoing basis, management evaluates these estimates, judgments and assumptions, including those related to revenue recognition, stock-based compensation, goodwill, long-lived assets, contingencies, credit losses of accounts receivable, and income taxes. The Company bases these estimates on historical and anticipated results and trends and on various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. In addition, the Company may engage third-party valuation specialists to assist with the preparation of certain of its valuations. These estimates form the basis for making judgments about the carrying values of assets and liabilities and recorded revenue and expenses that are not readily apparent from other sources. Actual results could differ from those estimates, and such differences could affect the results of operations reported in future periods.
Accounting Policies	Accounting Policies The significant accounting policies are described in Note 2, Summary of Significant Accounting Policies, to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2022. There have been no material changes to our significant accounting policies as of and for the six months ended December 31, 2022.
Accounts Receivable and Allowances	Accounts Receivable and Allowances The Company’s accounts receivable are derived from clients located principally in the United States. The Company performs ongoing credit evaluation of its customers and generally does not require collateral. The Company makes estimates of expected credit losses for the allowance for doubtful accounts and allowance for unbilled receivables based upon its assessment of various factors, including historical experience, the age of the accounts receivable balances, credit quality of its customers, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect its ability to collect from customers. The allowance for credit losses on accounts receivable was $0.7 million and $0.1 million as of December 31, 2022 and June 30, 2022. The revenue reserve was $1.3 million and $1.4 million as of December 31, 2022 and June 30, 2022, respectively. The total allowance for credit losses and revenue reserve was $2.0 million and $1.5 million as of December 31, 2022 and June 30, 2022, respectively.
Concentrations of Credit Risk	Concentrations of Credit Risk The Company had one client that accounted for 19% and 22% of net revenue for the three and six months ended December 31, 2022, and 13% and 14% of net revenue for the three and six months ended December 31, 2021. That same client accounted for 16% of net accounts receivable as of June 30, 2022. No other clients accounted for 10% or more of net revenue for the three and six months ended December 31, 2022 or 2021 or 10% or more of net accounts receivable as of December 31, 2022 or June 30, 2022.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial instruments consist principally of cash equivalents, accounts receivable, accounts payable, post-closing payments and contingent consideration related to acquisitions. The recorded values of the Company’s accounts receivable and accounts payable approximate their current fair values due to the relatively short-term nature of these accounts.
Cash and Cash Equivalents	Cash and Cash Equivalents All highly liquid investments with maturities of three months or less at the date of purchase are classified as cash equivalents on the Company’s condensed consolidated balance sheets. 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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In October 2021, the FASB issued Accounting Standards Update No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (ASU 2021-08), which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers, as if the acquirer had originated the contracts. The new guidance is effective for the Company in the first quarter of fiscal year 2024 on a prospective basis, with early adoption permitted. The Company is currently assessing the impact the new guidance will have on the consolidated financial statements.
Net Loss per Share	Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by using the weighted-average number of shares of common stock outstanding, including potential dilutive shares of common stock assuming the dilutive effect of outstanding stock options, unvested restricted stock units, and shares issuable related to the employee stock purchase plan (“ESPP”) using the treasury stock method.
Segment Information	Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker, its chief executive officer, reviews financial information presented on a consolidated basis and no expense or operating income is evaluated at a segment level. Given the consolidated level of review by the Company’s chief executive officer, the Company operates as one reportable segment.

Revenue (Tables)

6 Months Ended

Dec. 31, 2022

Revenue From Contract With Customer [Abstract]

Schedule of Disaggregation of Net Revenue

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

	Three Months Ended				Six Months Ended
	December 31,				December 31,
	2022		2021		2022		2021
Net revenue:
Financial Services	$	89,310	$	90,158	$	184,300	$	208,070
Home Services		42,975		33,820		89,708		73,806
Other Revenue		1,763		1,353		3,633		3,063
Total net revenue	$	134,048	$	125,331	$	277,641	$	284,939

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):

	December 31,		June 30,
	2022		2022
Deferred revenue	$	10	$	341
Client deposits		1,437		1,163
Total	$	1,447	$	1,504

Net Loss per Share (Tables)

6 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Calculation of Basic and Diluted Net Loss per Share

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

	Three Months Ended						Six Months Ended
	December 31,						December 31,
	2022			2021			2022			2021
	(In thousands, except per share data)						(In thousands, except per share data)
Numerator:
Basic and Diluted:
Net loss	$	(7,979	)	$	(5,628	)	$	(12,496	)	$	(2,535	)
Denominator:
Basic:
Weighted-average shares of common stock used in computing basic net loss per share		53,709			54,384			53,529			54,189
Diluted:
Weighted average shares of common stock used in computing basic net loss per share		53,709			54,384			53,529			54,189
Weighted average effect of dilutive securities:
Stock options		—			—			—			—
Restricted stock units		—			—			—			—
Shares issuable related to the ESPP		—			—			—			—
Weighted average shares of common stock used in computing diluted net loss per share		53,709			54,384			53,529			54,189
Net loss per share:
Basic	$	(0.15	)	$	(0.10	)	$	(0.23	)	$	(0.05	)
Diluted ⁽¹⁾	$	(0.15	)	$	(0.10	)	$	(0.23	)	$	(0.05	)
Securities excluded from weighted-average shares used in computing diluted net loss per share because the effect would have been anti-dilutive ⁽²⁾		4,363			851			4,299			3,703

⁽¹⁾

⁽²⁾	These weighted shares relate to anti-dilutive stock options, restricted stock units, and shares issuable related to the ESPP as calculated using the treasury stock method and could be dilutive in the future.

Fair Value Measurements (Tables)

6 Months Ended

Dec. 31, 2022

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):

	December 31, 2022								June 30, 2022
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	1,390	$	—	$	—	$	1,390	$	4,404	$	—	$	—	$	4,404
Total	$	1,390	$	—	$	—	$	1,390	$	4,404	$	—	$	—	$	4,404
Liabilities:
Post-closing payments related to acquisitions	$	—	$	21,579	$	—	$	21,579	$	—	$	28,437	$	—	$	28,437
Contingent consideration related to acquisitions		—		—		1,420		1,420		—		—		1,787		1,787
Total	$	—	$	21,579	$	1,420	$	22,999	$	—	$	28,437	$	1,787	$	30,224

Reported as:
Cash and cash equivalents							$	1,390							$	4,404
Other Liabilities:
Current							$	11,478							$	12,369
Noncurrent								11,521								17,855
Total							$	22,999							$	30,224

Schedule of Change in Contingent Consideration

The following table represents the changes in the contingent consideration during the three and six months ended December 31, 2022 (in thousands):

	Three Months Ended		Six Months Ended
	December 31, 2022		December 31, 2022
Balance at the beginning of period	$	1,420	$	1,787
Changes in fair value during the period		—		—
Payments made during the period		—		(367	)
Balance at the end of period	$	1,420	$	1,420

Goodwill and Intangible Assets, Net (Tables)

6 Months Ended

Dec. 31, 2022

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible Assets, Net

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

	December 31, 2022							June 30, 2022
	Gross					Net		Gross					Net
	Carrying		Accumulated			Carrying		Carrying		Accumulated			Carrying
	Amount		Amortization			Amount		Amount		Amortization			Amount
Customer/publisher/advertiser relationships	$	91,630	$	(56,829	)	$	34,801	$	91,629	$	(52,449	)	$	39,180
Content		43,056		(43,056	)		—		43,056		(43,056	)		—
Website/trade/domain names		25,422		(19,149	)		6,273		25,302		(18,853	)		6,449
Acquired technology and others		34,934		(31,838	)		3,096		34,934		(30,867	)		4,067
Total	$	195,042	$	(150,872	)	$	44,170	$	194,921	$	(145,225	)	$	49,696

Amortization Expense

Future amortization expense for the Company’s intangible assets as of December 31, 2022 was as follows (in thousands):

Fiscal Year Ending June 30,	Amortization
2023 (remaining six months)	$	5,490
2024		10,209
2025		8,069
2026		5,444
2027		4,497
Thereafter		10,461
Total	$	44,170

Leases (Tables)

6 Months Ended

Dec. 31, 2022

Leases [Abstract]

Components of Lease Expense

The components of lease expense for the three and six months ended December 31, 2022 and 2021 were as follows (in thousands):

	Three Months Ended				Six Months Ended
	December 31,				December 31,
	2022		2021		2022		2021
Operating lease expense	$	1,229	$	1,278	$	2,454	$	2,579
Short-term lease expense		160		157		329		326
Variable lease expense ⁽¹⁾		148		174		291		295
Total lease expense	$	1,537	$	1,609	$	3,074	$	3,200

⁽¹⁾	Variable lease expense for the three and six months ended December 31, 2022 and 2021 primarily included common area maintenance charges.

Supplemental Information Related To Operating Leases

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

	Six Months Ended
	December 31,
	2022			2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for operating leases	$	2,945		$	3,114

Lease liabilities arising from obtaining right-of-use assets
Operating leases	$	—		$	564

Weighted average remaining lease term - operating leases	1.6 years			2.3 years
Weighted average discount rate - operating leases		5.1	%		5.0	%

Maturities of Operating Lease Liabilities

Maturities of operating lease liabilities as of December 31, 2022 were as follows (in thousands):

Fiscal Year Ending June 30,	Amount
2023 (remaining six months)	$	2,911
2024		3,817
2025		899
2026		146
2027		79
Thereafter		34
Total minimum lease payments		7,886
Less imputed interest		(1,317	)
Present value of net minimum lease payments	$	6,569
Operating lease liabilities:
Current	$	4,828
Noncurrent		1,741
Total	$	6,569

Stock Benefit Plans (Tables)

6 Months Ended

Dec. 31, 2022

Stock options [Member]

Schedule of Weighted Average Assumptions

	Three Months Ended						Six Months Ended
	December 31,						December 31,
	2022			2021			2022			2021
Expected term (in years)		3.5			3.5			3.5			4.5
Expected volatility		57	%		55	%		56	%		58	%
Expected dividend yield		—			—			—			—
Risk-free interest rate		4.4	%		0.7	%		3.7	%		0.8	%
Grant date fair value	$	5.90		$	6.38		$	5.66		$	8.56

Employee Stock Purchase Plan [Member]

Schedule of Fair Value of Purchase Rights

The fair value of the purchase rights for the ESPP are estimated on the date of grant using the Black-Scholes model with the following assumptions:


	Six Months Ended
	December 31, 2022
Expected term (in years)	0.5 - 2.0
Expected volatility	48% - 57%
Expected dividend yield		—
Risk-free interest rate	2.9% - 3.0%
Grant date fair value	$3.77 - $5.53

Segment Information (Tables)

6 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Net Revenue and Long-Lived Assets by Geographic Area

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

	Three Months Ended				Six Months Ended
	December 31,				December 31,
	2022		2021		2022		2021
Net revenue:
United States	$	131,891	$	119,154	$	272,705	$	273,642
International		2,157		6,177		4,936		11,297
Total net revenue	$	134,048	$	125,331	$	277,641	$	284,939

	December 31,		June 30,
	2022		2022
Property and equipment, net:
United States	$	12,822	$	9,095
International		247		216
Total property and equipment, net	$	13,069	$	9,311

	December 31,		June 30,
	2022		2022
Other intangible assets, net:
United States	$	44,170	$	49,696
International		—		—
Total other intangible assets, net	$	44,170	$	49,696

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2022 USD ($) Client	Dec. 31, 2021 Client	Dec. 31, 2022 USD ($) Client	Dec. 31, 2021 Client	Jun. 30, 2022 USD ($) Client
Summary Of Significant Accounting Policies [Line Items]
Allowance for credit losses on accounts receivable \| $	$ 700		$ 700		$ 100
Revenue reserve \| $	1,300		1,300		1,400
Allowance for credit losses and revenue reserve \| $	$ 2,007		$ 2,007		$ 1,536
Customer Concentration Risk [Member] \| Net revenue [Member] \| One Client [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of clients accounted for more than 10% of net revenue	1	1	1	1
Concentration risk percentage accounted by major clients	19.00%	13.00%	22.00%	14.00%
Customer Concentration Risk [Member] \| Net revenue [Member] \| Other Client [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of clients accounted for more than 10% of net revenue	0	0	0	0
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| One Client [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk percentage accounted by major clients					16.00%
Number of clients that accounted for 10% or more of net accounts receivable					1
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Other Client [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of clients accounted for more than 10% of net accounts receivable			0		0

Revenue - Schedule of Disaggregation of Net Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Disaggregation Of Revenue [Line Items]
Net revenue	$ 134,048	$ 125,331	$ 277,641	$ 284,939
Financial Services [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	89,310	90,158	184,300	208,070
Home Services [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	42,975	33,820	89,708	73,806
Other Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	$ 1,763	$ 1,353	$ 3,633	$ 3,063

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Revenue - Schedule of Contract Liabilities from Contracts with Clients (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Jun. 30, 2022
Contract With Customer Asset And Liability [Abstract]
Deferred revenue	$ 10	$ 341
Client deposits	1,437	1,163
Total	$ 1,447	$ 1,504

Revenue - Additional Information (Detail) $ in Millions	6 Months Ended
Revenue - Additional Information (Detail) $ in Millions	Dec. 31, 2022 USD ($)
Revenue From Contract With Customer [Abstract]
Revenue recognized	$ 4.2
Change in amount of advance consideration received from customers	$ 4.1

Net Loss per Share - Calculation of Basic and Diluted Net Loss per Share (Detail) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

6 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2022

Dec. 31, 2021

Basic and Diluted:

Net loss

$ (7,979)

$ (5,628)

$ (12,496)

$ (2,535)

Basic:

Weighted-average shares of common stock used in computing basic net loss per share

53,709

54,384

53,529

54,189

Diluted:

Weighted-average shares of common stock used in computing basic net loss per share

53,709

54,384

53,529

54,189

Weighted average effect of dilutive securities:

Weighted average shares of common stock used in computing diluted net loss per share

53,709

54,384

53,529

54,189

Net loss per share:

Basic

$ (0.15)

$ (0.10)

$ (0.23)

$ (0.05)

Diluted

^[1]

$ (0.15)

$ (0.10)

$ (0.23)

$ (0.05)

Securities excluded from weighted-average shares used in computing diluted net loss per share because the effect would have been anti-dilutive

^[2]

4,363

851

4,299

3,703

Stock options [Member]

Weighted average effect of dilutive securities:

Weighted-average effect of dilutive securities

Restricted stock units [Member]

Weighted average effect of dilutive securities:

Weighted-average effect of dilutive securities

Shares issuable related to the ESPP [Member]

Weighted average effect of dilutive securities:

Weighted-average effect of dilutive securities

[1]	Diluted net loss per share for the three and six months ended December 31, 2022 does not reflect any potential common stock relating to stock options, restricted stock units, or shares issuable related to the ESPP due to net losses incurred. The assumed issuance of any additional shares would be anti-dilutive.
[2]	These weighted shares relate to anti-dilutive stock options, restricted stock units, and shares issuable related to the ESPP as calculated using the treasury stock method and could be dilutive in the future.

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	Dec. 31, 2022	Jun. 30, 2022
Assets:
Total Assets	$ 1,390	$ 4,404
Liabilities:
Total Liabilities	22,999	30,224
Cash and cash equivalents	1,390	4,404
Other Liabilities:
Other Liabilities	22,999	30,224
Current [Member]
Other Liabilities:
Other Liabilities	11,478	12,369
Non Current [Member]
Other Liabilities:
Other Liabilities	11,521	17,855
Post-closing payments related to acquisitions [Member]
Liabilities:
Total Liabilities	21,579	28,437
Contingent consideration related to acquisitions [Member]
Liabilities:
Total Liabilities	1,420	1,787
Money market funds [Member]
Assets:
Total Assets	1,390	4,404
Level 1 [Member]
Assets:
Total Assets	1,390	4,404
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	1,390	4,404
Level 2 [Member]
Assets:
Total Assets	0	0
Liabilities:
Total Liabilities	21,579	28,437
Level 2 [Member] \| Post-closing payments related to acquisitions [Member]
Liabilities:
Total Liabilities	21,579	28,437
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	1,420	1,787
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	1,420	1,787
Level 3 [Member] \| Money market funds [Member]
Assets:
Total Assets	$ 0	$ 0

Fair Value Measurements - Additional Information (Detail) - USD ($)	Dec. 31, 2022	Jun. 30, 2022
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

Fair Value Measurements - Schedule of Change in Contingent Consideration (Detail) - Level 3 [Member] - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2022
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Balance at the beginning of period	$ 1,420	$ 1,787
Changes in fair value during the period	0	0
Payments made during the period	0	(367)
Balance at the end of period	$ 1,420	$ 1,420

Acquisitions - Additional Information (Detail) - USD ($) $ in Millions		3 Months Ended
	Jul. 01, 2020	Jun. 30, 2022	Dec. 31, 2021
Modernize, Inc. [Member]
Business Acquisition [Line Items]
Closing date of acquisition	Jul. 01, 2020
Cash paid upon closing	$ 43.9
Cash paid for net assets acquired	3.9
Business Combination, post-closing payments	$ 27.5
Business combination, deferred consideration payment period	5 years
Business combination, deferred consideration payment description	post-closing payments, payable in equal annual installments over a five-year period, with the first annual installment paid in the first quarter of fiscal year 2022
Home Services Client Vertical [Member]
Business Acquisition [Line Items]
Closing date of acquisition		Jun. 30, 2022	Dec. 31, 2021
Cash paid upon closing		$ 1.0	$ 1.0
Business Combination, post-closing payments		$ 1.0	$ 2.0
Business combination, deferred consideration payment period		2 years	2 years
Business combination, deferred consideration payment description		post-closing payments, payable in equal annual installments over a two-year period,	post-closing payments, payable in equal annual installments over a two-year period,

Goodwill and Intangible Assets, Net - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill impairment loss			$ 0
Goodwill	$ 121,141,000		121,141,000		$ 121,141,000
Amortization of intangible assets	$ 2,800,000	$ 2,900,000	$ 5,600,000	$ 6,000,000.0

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Goodwill and Intangible Assets, Net - Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Jun. 30, 2022
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 195,042	$ 194,921
Finite-Lived Intangible Assets, Accumulated Amortization	(150,872)	(145,225)
Net Carrying Amount	44,170	49,696
Customer/publisher/advertiser relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	91,630	91,629
Finite-Lived Intangible Assets, Accumulated Amortization	(56,829)	(52,449)
Net Carrying Amount	34,801	39,180
Content [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	43,056	43,056
Finite-Lived Intangible Assets, Accumulated Amortization	(43,056)	(43,056)
Net Carrying Amount	0	0
Website/trade/domain names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	25,422	25,302
Finite-Lived Intangible Assets, Accumulated Amortization	(19,149)	(18,853)
Net Carrying Amount	6,273	6,449
Acquired technology and others [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	34,934	34,934
Finite-Lived Intangible Assets, Accumulated Amortization	(31,838)	(30,867)
Net Carrying Amount	$ 3,096	$ 4,067

Goodwill and Intangible Assets, Net - Amortization Expense (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Jun. 30, 2022
Finite Lived Intangible Assets Future Amortization Expense [Abstract]
2023 (remaining six months)	$ 5,490
2024	10,209
2025	8,069
2026	5,444
2027	4,497
Thereafter	10,461
Net Carrying Amount	$ 44,170	$ 49,696

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
CHIPS and Science Act and Inflation Reduction Act, minimum tax percentage on corporation's book income		15.00%
CHIPS And Science Act And Inflation Reduction Act, excise tax percentage on stock buybacks		1.00%
Provision For (Benefit From) Income Taxes	$ (1,403)		$ (2,190)	$ (2,025)	$ (1,614)

- Definition

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

+ References + Details

Leases - Additional Information (Detail) $ in Millions	Dec. 31, 2022 USD ($)
Lease Cost [Abstract]
Lessee, operating lease, renewal term	5 years
Future principal contractual obligations for operating lease commitments undiscounted lease liability excess amount	$ 0.8

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

3 Months Ended

6 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2022

Dec. 31, 2021

Lease Cost [Abstract]

Operating lease expense

$ 1,229

$ 1,278

$ 2,454

$ 2,579

Short-term lease expense

160

157

329

326

Variable lease expense

^[1]

148

174

291

295

Total lease expense

$ 1,537

$ 1,609

$ 3,074

$ 3,200

[1]	Variable lease expense for the three and six months ended December 31, 2022 and 2021 primarily included common area maintenance charges.

Leases - Supplemental Information Related to Operating Leases (Detail) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for operating leases	$ 2,945	$ 3,114
Lease liabilities arising from obtaining right-of-use assets
Operating leases	$ 0	$ 564
Weighted average remaining lease term - operating leases	1 year 7 months 6 days	2 years 3 months 18 days
Weighted average discount rate - operating leases	5.10%	5.00%

Leases - Maturities of Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Jun. 30, 2022
Lease Cost [Abstract]
2023 (remaining six months)	$ 2,911
2024	3,817
2025	899
2026	146
2027	79
Thereafter	34
Total minimum lease payments	7,886
Less imputed interest	(1,317)
Present value of net minimum lease payments	6,569
Operating lease liabilities:
Current	$ 4,828
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other liabilities
Noncurrent	$ 1,741	$ 3,858
Total	$ 6,569

Commitments and Contingencies - Additional Information (Detail) - USD ($)	6 Months Ended
	Dec. 31, 2022	Jun. 30, 2022
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

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Dec. 31, 2022	Apr. 30, 2022
Equity Class Of Treasury Stock [Line Items]
Treasury Stock, Value, Acquired, Cost Method	$ 3,050
April 2022 Stock Repurchase Program [Member]
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program outstanding shares of common stock authorized to repurchase		$ 40,000
Repurchase of common stock	285,644
Retirement of treasury stock, Shares	285,644
Treasury Stock Acquired, Average Cost Per Share	$ 10.65
Treasury Stock, Value, Acquired, Cost Method	$ 3,100
Treasury Stock Broker Commission	$ 0.03
Stock repurchase program, amount remained available for stock repurchase	$ 20,000

Stock Benefit Plans - Additional Information (Detail)	6 Months Ended
Stock Benefit Plans - Additional Information (Detail)	Dec. 31, 2022 USD ($) shares
2010 Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance	23,125,612
Shares available for issuance	11,563,650
Directors' Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance	4,598,838
Shares available for issuance	2,053,997
2021 ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance	2,164,999
Shares available for issuance	2,027,085
Shares of common stock allowed to purchase at a discount through payroll deductions	15.00%
Maximum number of common stock, participant may purchase during purchase period	2,500
Maximum value of common stock, participant may purchase in each calendar year \| $	$ 25,000
Shares of common stock purchased	137,914
Employee payroll contributions accrued \| $	$ 1,000,000.0
Purchase period end date	Feb. 24, 2023

Stock Benefit Plans - Schedule of Weighted Average Assumptions (Detail) - Stock options [Member] - $ / shares	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	3 years 6 months	3 years 6 months	3 years 6 months	4 years 6 months
Expected volatility	57.00%	55.00%	56.00%	58.00%
Expected dividend yield	0.00%	0.00%	0.00%	0.00%
Risk-free interest rate	4.40%	0.70%	3.70%	0.80%
Grant date fair value	$ 5.90	$ 6.38	$ 5.66	$ 8.56

Stock Benefit Plans - Schedule of Fair Value of Purchase Rights (Detail) - Employee Stock Purchase Plan [Member]	6 Months Ended
	Dec. 31, 2022 $ / shares
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 months
Expected volatility	48.00%
Expected dividend yield	0.00%
Risk-free interest rate	2.90%
Grant date fair value	$ 3.77
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	2 years
Expected volatility	57.00%
Expected dividend yield	0.00%
Risk-free interest rate	3.00%
Grant date fair value	$ 5.33

Segment Information - Additional Information (Detail)	6 Months Ended
Segment Information - Additional Information (Detail)	Dec. 31, 2022 Segment
Segment Reporting [Abstract]
Number of reportable segments	1

Segment Information - Net Revenue and Long-Lived Assets by Geographic Area (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2022
Net revenue:
Total net revenue	$ 134,048	$ 125,331	$ 277,641	$ 284,939
Property and equipment, net:
Total property and equipment, net	13,069		13,069		$ 9,311
Other intangible assets, net:
Total other intangible assets, net	44,170		44,170		49,696
United States [Member]
Net revenue:
Total net revenue	131,891	119,154	272,705	273,642
Property and equipment, net:
Total property and equipment, net	12,822		12,822		9,095
Other intangible assets, net:
Total other intangible assets, net	44,170		44,170		49,696
International [Member]
Net revenue:
Total net revenue	2,157	$ 6,177	4,936	$ 11,297
Property and equipment, net:
Total property and equipment, net	247		247		216
Other intangible assets, net:
Total other intangible assets, net	$ 0		$ 0		$ 0

- Definition

+ References

+ Details