Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Mar. 31, 2016	Apr. 30, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q3
Trading Symbol	QNST
Entity Registrant Name	QUINSTREET, INC
Entity Central Index Key	0001117297
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		45,417,582

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Current assets:
Cash and cash equivalents	$ 54,802	$ 60,468
Accounts receivable, net	49,500	46,240
Deferred tax assets	173	166
Prepaid expenses and other assets	6,979	11,503
Total current assets	111,454	118,377
Property and equipment, net	8,282	8,565
Goodwill	56,118	56,118
Other intangible assets, net	12,172	19,030
Other assets, noncurrent	11,557	3,063
Total assets	199,583	205,153
Current liabilities:
Accounts payable	22,489	20,425
Accrued liabilities	29,957	27,146
Deferred revenue	903	1,208
Debt	50	49
Total current liabilities	53,399	48,828
Debt, noncurrent	15,000	15,000
Other liabilities, noncurrent	5,409	5,740
Total liabilities	$ 73,808	$ 69,568
Commitments and contingencies (See Note 9)
Stockholders' equity:
Common stock: $0.001 par value; 100,000,000 shares authorized; 45,416,200 and 44,617,850 shares issued and outstanding at March 31, 2016 and June 30, 2015, respectively	$ 45	$ 45
Additional paid-in capital	254,574	249,358
Accumulated other comprehensive loss	(426)	(413)
Accumulated deficit	(128,418)	(113,405)
Total stockholders' equity	125,775	135,585
Total liabilities and stockholders' equity	$ 199,583	$ 205,153

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2016	Jun. 30, 2015
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	45,416,200	44,617,850
Common stock, shares outstanding	45,416,200	44,617,850

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

3 Months Ended

9 Months Ended

Mar. 31, 2016

Mar. 31, 2015

Mar. 31, 2016

Mar. 31, 2015

Income Statement [Abstract]

Net revenue

$ 81,243

$ 75,345

$ 218,593

$ 211,228

Cost of revenue

^[1]

72,771

65,192

198,735

188,996

Gross profit

8,472

10,153

19,858

22,232

Operating expenses:

Product development

^[1]

4,136

4,653

12,283

13,853

Sales and marketing

^[1]

2,861

3,881

9,353

10,905

General and administrative

^[1]

4,264

4,300

12,484

12,994

Operating loss

(2,789)

(2,681)

(14,262)

(15,520)

Interest income

Interest expense

(155)

(760)

(433)

(2,726)

Other income, net

112

120

3,001

Loss before income taxes

(2,809)

(3,394)

(14,536)

(15,184)

(Provision for) benefit from taxes

(72)

178

(477)

204

Net loss

$ (2,881)

$ (3,216)

$ (15,013)

$ (14,980)

Net loss per share:

Basic

$ (0.06)

$ (0.07)

$ (0.33)

$ (0.34)

Diluted

$ (0.06)

$ (0.07)

$ (0.33)

$ (0.34)

Weighted average shares used in computing net loss per share:

Basic

45,333

44,522

45,098

44,409

Diluted

45,333

44,522

45,098

44,409

[1]	Cost of revenue and operating expenses include stock-based compensation expense as follows: Cost of revenue $787 $863 $2,344 $2,292 Product development 497 542 1,542 1,731 Sales and marketing 464 600 1,333 1,626 General and administrative 684 576 2,046 1,733

Condensed Consolidated Statements of Operations (Parenthetical) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Stock-based compensation	$ 2,432	$ 2,581	$ 7,265	$ 7,382
Cost of revenue [Member]
Stock-based compensation	787	863	2,344	2,292
Product development [Member]
Stock-based compensation	497	542	1,542	1,731
Sales and marketing [Member]
Stock-based compensation	464	600	1,333	1,626
General and administrative [Member]
Stock-based compensation	$ 684	$ 576	$ 2,046	$ 1,733

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (2,881)	$ (3,216)	$ (15,013)	$ (14,980)
Unrealized gain on investments:
Change in unrealized gain on investments				13
Less: reclassification adjustment related to realized loss on investments, net of tax of $0		16		16
Net change		16		29
Foreign currency translation adjustment	(6)	10	(13)	(15)
Change in unrealized (loss) gain on interest rate swap		(29)		225
Other comprehensive (loss) income	(6)	(3)	(13)	239
Comprehensive loss	$ (2,887)	$ (3,219)	$ (15,026)	$ (14,741)

Condensed Consolidated Statements of Comprehensive Loss (Parenthetical) (Unaudited) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2015	Mar. 31, 2015
Statement Of Income And Comprehensive Income [Abstract]
Reclassification adjustment related to realized loss on investments, tax	$ 0	$ 0

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash Flows from Operating Activities
Net loss	$ (15,013)	$ (14,980)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	11,437	14,778
Provision for sales returns and doubtful accounts receivable	843	58
Write-off of bank loan upfront fees		328
Stock-based compensation	7,265	7,382
Gain on sales of domain names	(160)	(3,331)
Other adjustments, net		160
Changes in assets and liabilities:
Accounts receivable	(4,103)	(3,040)
Prepaid expenses and other assets	(3,968)	(734)
Deferred taxes	(8)	2
Accounts payable	2,121	2,128
Accrued liabilities	3,007	2,146
Deferred revenue	(305)	181
Other liabilities, noncurrent	(327)	(316)
Net cash provided by operating activities	789	4,762
Cash Flows from Investing Activities
Capital expenditures	(1,689)	(2,629)
Internal software development costs	(2,689)	(1,428)
Purchases of marketable securities		(16,600)
Proceeds from maturities of marketable securities		26,849
Proceeds from sales of marketable securities		28,427
Proceeds from sales of domain names	135	3,346
Other investing activities	(2)	11
Net cash (used in) provided by investing activities	(4,245)	37,976
Cash Flows from Financing Activities
Proceeds from exercise of common stock options	26	1,300
Principal payments on term loan facility		(12,500)
Payment of bank loan upfront fees		(272)
Principal payments on acquisition-related notes payable		(444)
Withholding taxes related to restricted stock net share settlement	(2,139)	(910)
Net cash used in financing activities	(2,113)	(12,826)
Effect of exchange rate changes on cash and cash equivalents	(97)	11
Net (decrease) increase in cash and cash equivalents	(5,666)	29,923
Cash and cash equivalents at beginning of period	60,468	84,177
Cash and cash equivalents at end of period	54,802	114,100
Supplemental Disclosure of Cash Flow Information
Cash paid for interest	492	2,415
Cash paid for income taxes	$ 729	$ 772

The Company	9 Months Ended
The Company	Mar. 31, 2016
Organization [Abstract]
The Company	1. The Company QuinStreet, Inc. (the “Company”) is a leader in performance marketing products and technologies. The Company was incorporated in California in April 1999 and reincorporated in Delaware in December 2009. The Company provides customer acquisition programs for clients in various industry verticals such as financial services and education. The corporate headquarters are located in Foster City, California, with additional offices throughout the United States, Brazil and India.

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2016
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. The Company also evaluates its ownership in entities to determine if they are variable interest entities (“VIEs”), if the Company has a variable interest in those entities, and if the nature and extent of those interests result in consolidation. Refer to Note 4 for more information on VIEs. The Company applies the cost method of accounting for investments in entities if the Company does not have the ability to exercise significant influence over the entities. The interests held at cost are periodically evaluated for other-than-temporary declines in value. 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 March 31, 2016 and for the three and nine months ended March 31, 2016 and 2015 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, 2015, as filed with the SEC on August 19, 2015. The condensed consolidated balance sheet at June 30, 2015 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 statement of the Company’s condensed consolidated balance sheet at March 31, 2016, its condensed consolidated statements of operations for the three and nine months ended March 31, 2016 and 2015, its condensed consolidated statements of comprehensive loss for the three and nine months ended March 31, 2016 and 2015, and its condensed consolidated statements of cash flows for the nine months ended March 31, 2016 and 2015. The results of operations for the three and nine months ended March 31, 2016 are not necessarily indicative of the results to be expected for the fiscal year ending June 30, 2016, 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, intangible assets, long-lived assets, contingencies, and income taxes. The Company bases these estimates on historical and anticipated results and trends and on various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. These estimates form the basis for making judgments about the carrying values of assets and liabilities and recorded revenue and expenses that are not readily apparent from other sources. Actual results could differ from those estimates, and such differences could affect the results of operations reported in future periods. Accounting Policies The significant accounting policies are described in Note 2, Summary of Significant Accounting Policies, to the consolidated financial statements included in the Annual Report on Form 10-K for the fiscal year ended June 30, 2015. There have been no significant changes in the accounting policies subsequent to June 30, 2015. Concentrations of Credit Risk The Company had one client that accounted for 16% and 11% of net revenue for the three and nine months ended March 31, 2016. No other client accounted for more than 10% of net revenue for the three and nine months ended March 31, 2016 and no client accounted for more than 10% of net revenue for the three and nine months ended March 31, 2015. No client accounted for more than 10% of net accounts receivable as of March 31, 2016 or June 30, 2015. Fair Value of Financial Instruments The Company’s financial instruments consist principally of cash equivalents, accounts receivable, accounts payable, an acquisition-related promissory note and a revolving loan facility. The fair value of the Company’s cash equivalents is determined based on quoted prices in active markets for identical assets for its money market funds. 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. The fair value of the acquisition-related promissory note approximates its recorded amount as the interest rates on similar financing arrangements available to the Company at March 31, 2016 approximate the interest rates implied when this acquisition-related promissory note was originally issued and recorded. The Company believes that the fair value of the revolving loan facility approximates its recorded amount at March 31, 2016 as the interest rate on the revolving loan facility is variable and is based on market interest rates and after consideration of default and credit risk. Recent Accounting Pronouncements In May 2014, the FASB issued a new accounting standard update on revenue from contracts with clients. The new guidance provides that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In March and April 2016, the FASB amended this standard to clarify implementation guidance on principal versus agent considerations and the identification of performance obligations and licensing. The new standards become effective for fiscal years beginning after December 15, 2017, and interim periods within those years with early adoption permitted. The Company is currently assessing the impact of this new guidance. In June 2014, the FASB issued a new accounting standard update on accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period, which amends ASC 718, “Compensation - Stock Compensation.” The amendment provides guidance on the treatment of share-based payment awards with a specific performance target, requiring that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The new guidance becomes effective for fiscal years beginning after December 15, 2015, and interim periods within those years, with early adoption permitted. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements. In August 2014, the FASB issued new guidance related to the disclosures around going concern. The new standard provides guidance around management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. The new guidance becomes effective for fiscal years beginning after December 15, 2016, and interim periods within those years, with early adoption permitted. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements. In February 2015, the FASB issued a new accounting standard update on consolidating legal entities in which a reporting entity holds a variable interest. The amended guidance modifies the evaluation of whether limited partnerships and similar legal entities are VIEs and affects the consolidation analysis of reporting entities that are involved with VIEs that have fee arrangements and related party relationships. The new guidance becomes effective for fiscal years beginning after December 15, 2015, and interim periods within those years, with early adoption permitted. The Company is currently assessing the impact of this new guidance. In November 2015, the FASB issued a new accounting standard update on the balance sheet classification of deferred taxes. The new standard requires entities to classify deferred tax liabilities and assets as noncurrent in a classified statement of financial position. The new guidance becomes effective for fiscal years beginning after December 15, 2016, and interim periods within those years, with early adoption permitted. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements. In February 2016, the FASB issued a new accounting standard update which replaces ASC 840, “Leases.” The new guidance requires a lessee to recognize on its balance sheet a right-of-use asset representing its right to use the underlying asset for the lease term and a lease liability representing its lease payment obligations. The guidance also requires a lessee to recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term, on a generally straight-line basis. The guidance becomes effective for fiscal years beginning after December 15, 2018, and interim periods within those years, with early adoption permitted. The Company is currently assessing the impact of this new guidance. In March 2016, the FASB issued a new accounting standard update on the accounting for share-based payments. The new guidance simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification in the statement of cash flows. The guidance becomes effective for fiscal years beginning after December 15, 2016, and interim periods within those years, with early adoption permitted. The Company is currently assessing the impact of this new guidance.

Net Loss Attributable to Common Stockholders and Net Loss per Share

9 Months Ended

Mar. 31, 2016

Earnings Per Share [Abstract]

Net Loss Attributable to Common Stockholders and Net Loss per Share

3. Net Loss Attributable to Common Stockholders and 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 and restricted stock units using the treasury stock method.

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

	Three Months Ended						Nine Months Ended
	March 31,						March 31,
	2016			2015			2016			2015
	(In thousands, except per share data)						(In thousands, except per share data)
Numerator:
Basic and Diluted:
Net loss	$	(2,881	)	$	(3,216	)	$	(15,013	)	$	(14,980	)
Denominator:
Basic and Diluted:
Weighted average shares of common stock computing basic and diluted net loss per share		45,333			44,522			45,098			44,409
Net loss per share:
Basic and Diluted ⁽¹⁾	$	(0.06	)	$	(0.07	)	$	(0.33	)	$	(0.34	)
Securities excluded from weighted average shares used in computing diluted net loss per share because the effect would have been anti-dilutive: ⁽²⁾		6,929			6,524			5,287			8,879

⁽¹⁾	Diluted EPS does not reflect any potential common stock relating to stock options or restricted stock units due to net losses incurred for the three and nine months ended March 31, 2016 and 2015. The assumed issuance of any additional shares would be anti-dilutive.

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

Fair Value Measurements, Marketable Securities and Variable Interest Entities

9 Months Ended

Mar. 31, 2016

Fair Value Measurements Marketable Securities And Variable Interest Entities [Abstract]

Fair Value Measurements, Marketable Securities and Variable Interest Entities

4. Fair Value Measurements, Marketable Securities and Variable Interest Entities

Fair value is defined as the price that would be received on sale of an asset or paid to transfer a liability (exit price) in an orderly transaction between market participants at the measurement date. The FASB has established a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3).

The three levels of the fair value hierarchy under the guidance for fair value measurement are described below:

Level 1 — Inputs are unadjusted quoted prices in active markets for identical assets or liabilities. Pricing inputs are based upon quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. The valuations are based on quoted prices of the underlying security that are readily and regularly available in an active market, and accordingly, a significant degree of judgment is not required. As of March 31, 2016, the Company used Level 1 assumptions for its money market funds.

Level 2 — Pricing inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. As of March 31, 2016, the Company used Level 2 assumptions for its acquisition-related promissory note and revolving loan facility.

Level 3 — Pricing inputs are generally unobservable for the assets or liabilities and include situations where there is little, if any, market activity for the investment. The inputs into the determination of fair value require management’s judgment or estimation of assumptions that market participants would use in pricing the assets or liabilities. The fair values are therefore determined using model-based techniques that include option pricing models, discounted cash flow models, and similar techniques. As of March 31, 2016, the Company did not have any Level 3 financial assets or liabilities.

The Company’s financial instruments as of March 31, 2016 and June 30, 2015 were categorized as follows in the fair value hierarchy (in thousands):


	Fair Value Measurements as of March 31, 2016 Using
	Quoted Prices in		Significant Other
	Active Markets		Observable
	for Identical Assets		Inputs
	(Level 1)		(Level 2)		Total
Assets:
Money market funds	$	20,182	$	—	$	20,182
Liabilities:
Acquisition-related promissory note ⁽¹⁾	$	—	$	50	$	50
Revolving loan facility⁽¹⁾		—		15,000		15,000
	$	—	$	15,050	$	15,050


	Fair Value Measurements as of June 30, 2015 Using
	Quoted Prices in		Significant Other
	Active Markets		Observable
	for Identical Assets		Inputs
	(Level 1)		(Level 2)		Total
Assets:
Money market funds	$	20,156	$	—	$	20,156
Liabilities:
Acquisition-related promissory note ⁽¹⁾	$	—	$	49	$	49
Revolving loan facility⁽¹⁾		—		15,000		15,000
	$	—	$	15,049	$	15,049

(1)	These liabilities are carried at historical cost on the Company's condensed consolidated balance sheets.

Marketable Securities

All liquid investments with maturities of three months or less at the date of purchase are classified as cash equivalents. Investments with maturities greater than three months at the date of purchase are classified as marketable securities. Historically, the Company’s marketable securities have been classified and accounted for as available-for-sale. Management determines the appropriate classification of its investments at the time of purchase and reevaluates the available-for-sale designation as of each balance sheet date. Available-for-sale securities are carried at fair value, with unrealized gains and losses, net of tax, reported as a component of accumulated other comprehensive loss within stockholders’ equity.

The Company holds money market funds of $20.2 million as of March 31, 2016 and June 30, 2015. Gross unrealized gains and losses were not material as the carrying value approximated estimated fair value due to its short maturities. The Company did not hold any marketable securities as of March 31, 2016 and June 30, 2015.

The Company did not realize any material gains or losses from sales of its securities for the three and nine months ended March 31, 2016 and 2015. As of March 31, 2016 and June 30, 2015, the Company did not hold securities that had maturity dates greater than one year.

Variable Interest Entities

A VIE is consolidated by its primary beneficiary. The primary beneficiary has both the power to direct the activities that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive benefits from the entity that could potentially be significant to the VIE. The assessment of whether the Company is the primary beneficiary of the VIE requires significant assumptions and judgments, including the identification of significant activities and an assessment of the Company’s ability to direct those activities. The Company has an equity interest in a privately held entity that is a VIE, of which the Company is not the primary beneficiary. Accordingly, the interest of $2.5 million as of March 31, 2016 and June 30, 2015 is recognized at cost within other assets, noncurrent on the Company’s condensed consolidated balance sheets. The Company’s interest was evaluated for impairment as of March 31, 2016 and June 30, 2015 which did not result in any indications of impairment. The Company’s maximum exposure to loss as a result of the unconsolidated VIE is $2.5 million at March 31, 2016, which represents the carrying value of the Company’s investment in the VIE.

Prepaid Expenses and Other Assets	9 Months Ended
Prepaid Expenses and Other Assets	Mar. 31, 2016
Prepaid Expense And Other Assets [Abstract]
Prepaid Expenses and Other Assets	5. Prepaid Expenses and Other Assets During the three months ended December 31, 2015, 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 their exclusive click monetization partner for the majority of their insurance categories. The agreement included a one-time upfront cash payment of $10.0 million. The payment is being amortized on a straight-line basis over the life of the contract. As of March 31, 2016, the Company has recorded $1.0 million within prepaid expenses and other assets and $8.5 million in other assets, noncurrent on the condensed consolidated balance sheet. Amortization expense was $0.3 million and $0.5 million for the three and nine months ended March 31, 2016.

Intangible Assets and Goodwill

9 Months Ended

Mar. 31, 2016

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

6. Intangible Assets and Goodwill

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

	March 31, 2016							June 30, 2015
	Gross					Net		Gross					Net
	Carrying		Accumulated			Carrying		Carrying		Accumulated			Carrying
	Amount		Amortization			Amount		Amount		Amortization			Amount
Customer/publisher/advertiser relationships	$	36,655	$	(35,173	)	$	1,482	$	37,056	$	(33,916	)	$	3,140
Content		61,732		(56,939	)		4,793		62,162		(54,629	)		7,533
Website/trade/domain names		31,475		(26,662	)		4,813		31,533		(24,697	)		6,836
Acquired technology and others		36,733		(35,649	)		1,084		36,742		(35,221	)		1,521
	$	166,595	$	(154,423	)	$	12,172	$	167,493	$	(148,463	)	$	19,030

Amortization of intangible assets was $2.1 million and $6.8 million for the three and nine months ended March 31, 2016 and $2.9 million and $10.0 million for the three and nine months ended March 31, 2015.

Future amortization expense for the Company’s intangible assets as of March 31, 2016 was as follows (in thousands):

Year Ending June 30,	Amortization
2016 (remaining three months)	$	2,422
2017		6,124
2018		1,945
2019		798
2020		773
Thereafter		110
	$	12,172

As of March 31, 2016 and June 30, 2015, goodwill was $56.1 million.

The Company conducts a test for the impairment of goodwill at the reporting unit level on at least an annual basis and whenever there are events or changes in circumstances that would more likely than not reduce the estimated fair value of a reporting unit below its carrying value. In the third quarter of fiscal year 2016, the Company’s public market capitalization experienced a decline to a value below the net book carrying value of the Company’s equity which triggered the necessity to conduct an interim goodwill impairment test as of March 31, 2016. As of March 31, 2016, the Company had one reporting unit. Given that the Company’s shares are publicly traded in an active market, the Company believes that the quoted market price is the best evidence of fair value. As of March 31, 2016, the Company’s market capitalization exceeded the Company’s net book carrying value. Additionally, the Company estimated fair value utilizing a weighting of the fair values derived from the market and income approach which exceeded the Company’s net book carrying value. Based on the results of the step one interim impairment test, the Company determined there was no goodwill impairment as of March 31, 2016.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Income Taxes	9 Months Ended
Income Taxes	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	7. Income Taxes The Company recorded a valuation allowance against the majority of the Company’s deferred tax assets at the end of fiscal year 2014 and continues to maintain that full valuation allowance as of March 31, 2016 and June 30, 2015 as the Company believes it is not more likely than not that the net deferred tax assets will be fully realizable. The Company recorded a provision for income taxes of $0.1 million and $0.5 million for the three and nine months ended March 31, 2016, primarily due to the outcome of a state tax examination. The Company recorded a benefit from income taxes of $0.2 million for the three and nine months ended March 31, 2015, primarily due to the carryback of prior year tax losses.

Debt

9 Months Ended

Mar. 31, 2016

Debt Disclosure [Abstract]

Debt

8. Debt

Loan Facility

In November 2011, the Company entered into a credit agreement (“Credit Agreement”) with Comerica Bank (the “Bank”), the administrative agent and lead arranger. The Credit Agreement consisted of a $100.0 million five-year term loan facility, with annual principal amortization of 5%, 10%, 15%, 20% and 50%, and a $200.0 million five-year revolving loan facility maturing on November 4, 2016.

On February 15, 2013, the Company entered into the First Amendment to Credit Agreement and Amendment to Guaranty (“First Amendment”) with the Bank to, among other things: (1) amend the definition of EBITDA; and (2) reduce the $200.0 million five-year revolving loan facility to $100.0 million.

On July 17, 2014, the Company entered into the Second Amendment to Credit Agreement (“Second Amendment”) with the Bank to, among other things, amend the financial covenants and reduce the revolving loan facility from $100.0 million to $50.0 million, each effective as of June 30, 2014. Upfront arrangement fees incurred in connection with the Second Amendment totaled $0.3 million and were deferred and amortized over the remaining term of the arrangement. In connection with the reduction of the revolving loan facility, the Company accelerated amortization of approximately $0.3 million of unamortized deferred upfront costs.

On June 11, 2015, the Company entered into the Third Amendment to Credit Agreement (“Third Amendment”) with the Bank to, among other things, pay off in full and terminate the term loan facility, reduce the revolving loan facility from $50.0 million to $25.0 million, amend the financial covenants, and extend the expiration date of the Credit Agreement from November 4, 2016 to June 11, 2017. Pursuant to the Third Amendment, each of the revolving loan facility lenders (other than the Bank) assigned its revolving loan facility commitments to the Bank, resulting in the Bank remaining as sole lender under the Credit Agreement. Upfront arrangement fees incurred in connection with the Third Amendment were not material. In connection with the termination of the term loan facility, the Company accelerated amortization of approximately $0.5 million of unamortized deferred upfront costs.

The Credit Agreement, as amended from time to time, is secured by substantially all of the Company’s assets. Borrowings under the revolving loan facility are subject to a borrowing base consisting of eligible receivables and certain other customary conditions.

Pursuant to the Second Amendment, (1) the applicable margin for base rate borrowings was set at (a) 1.375% for the revolving loan facility or (b) 1.75% for the term loan facility, and (2) the applicable margin for Eurodollar rate borrowings was set at (a) 2.375% for the revolving loan facility or (b) 2.75% for the term loan facility.

Pursuant to the Third Amendment, borrowings under the revolving loan facility bear interest at a Eurodollar rate plus 3.00%.

EBITDA under the Credit Agreement is defined as net loss less (provision for) benefit from taxes, depreciation expense, amortization expense, stock-based compensation expense, interest and other income, net, acquisition costs for business combinations, extraordinary or non-recurring non-cash expenses or losses including, without limitation, goodwill impairments, and any extraordinary or non-recurring cash expenses in an aggregate amount not to exceed $5.0 million for the life of the Credit Agreement, as amended from time to time. The Company must pay an annual facility fee of $62,500 and an annual unused fee of 0.25% of the undrawn revolving loan facility commitments. The Company has the right to prepay the revolving loan facility or permanently reduce the revolving loan facility commitments without premium or penalty, in whole or in part at any time.

The Credit Agreement, as amended, contains limitations on the Company’s ability to sell assets, make acquisitions, pay dividends, incur capital expenditures, and also requires the Company to comply with certain additional covenants. In addition, pursuant to the Third Amendment, the Company is required to maintain financial covenants as follows when there are amounts outstanding under the revolving loan facility and at the time the Company draws down amounts under the revolving loan facility:

1. Minimum EBITDA as of the end of each fiscal quarter for the trailing twelve month period of not less than:

(a) $1 for the quarter ended June 30, 2015;

(b) $2,000,000 for the quarter ended September 30, 2015;

(d) $4,000,000 for the quarter ended March 31, 2016; and

(e) $5,000,000 for the quarter ending June 30, 2016.

Thereafter, minimum EBITDA increases each quarter in $1,000,000 increments; provided that there shall be no loss in EBITDA greater than $2,000,000 in any fiscal quarter during such trailing four quarter period.

2. Minimum adjusted quick ratio as of the end of each month of not less than 1.25 to 1.00.

The Company was in compliance with the covenants of the Credit Agreement, as amended, as of March 31, 2016 and June 30, 2015.

As of March 31, 2016 and June 30, 2015, $15.0 million was outstanding under the revolving loan facility.

Interest Rate Swap

During fiscal year 2015, the Company held an interest rate swap to reduce its exposure to the financial impact of changing interest rates under its term loan facility. The swap encompassed the principal balances outstanding as of January 1, 2014 and scheduled to be outstanding thereafter, such principal and notional amount totaling $85.0 million in January 2014 and amortizing to $35.0 million in November 2016. The swap agreement exchanged a variable interest rate base (Eurodollar rate) for a fixed interest rate of 0.97% over the term of the agreement. This interest rate swap was designated as a cash flow hedge of the interest rate risk attributable to forecasted variable interest payments. The effective portion of the fair value gains or losses on this swap was included as a component of accumulated other comprehensive loss with any hedge ineffectiveness immediately recognized in earnings in the current period.

In June 2015, in connection with the repayment in full and termination of the term loan facility, the Company also terminated the interest rate swap agreement. Upon settlement, the Company recognized an expense of $0.3 million within other income, net, in the condensed consolidated statement of operations.

Debt Maturities

The maturities of the Company’s debt as of March 31, 2016 were as follows (in thousands):

	Promissory			Revolving Loan
Year Ending June 30,	Note			Facility
2016 (remaining three months)	$	50		$	—
2017		—			15,000
		50			15,000
Less: imputed interest and unamortized discounts		—			—
Less: current portion		(50	)		—
Noncurrent portion of debt	$	—		$	15,000

Letters of Credit

The Company has a $0.4 million letter of credit agreement with a financial institution that is used as collateral for fidelity bonds placed with an insurance company and 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 letters of credit automatically renew annually without amendment unless cancelled by the financial institutions within 30 days of the annual expiration date.

Commitments and Contingencies

9 Months Ended

Mar. 31, 2016

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

9. Commitments and Contingencies

Leases

The Company leases office space under non-cancelable operating leases with various expiration dates through fiscal year 2021. Rent expense was $0.8 million and $2.5 million for the three and nine months ended March 31, 2016 and $0.9 million and $2.7 million for the three and nine months ended March 31, 2015. The Company recognizes rent expense on a straight-line basis over the lease period and accrues for rent expense incurred but not paid.

Future annual minimum lease payments under noncancelable operating leases as of March 31, 2016 were as follows (in thousands):

	Operating
Year Ending June 30,	Leases
2016 (remaining three months)	$	949
2017		3,502
2018		3,379
2019		1,406
2020		159
Thereafter		26
	$	9,421

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 March 31, 2016 and June 30, 2015.

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 and survives 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 March 31, 2016 and June 30, 2015.

Stock Benefit Plans

9 Months Ended

Mar. 31, 2016

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock Benefit Plans

10. Stock Benefit Plans

Stock Incentive Plans

The Company may grant incentive stock options (“ISOs”), nonstatutory stock options (“NQSOs”), restricted stock, restricted stock units, 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 restricted stock units to non-employee directors under the 2010 Non-Employee Directors’ Stock Award Plan (the “Directors’ Plan”). In fiscal year 2016, the Company began granting to employees restricted stock units with a market condition that requires that the Company’s stock price achieve a specified price above the grant date stock price before it can be eligible for service vesting conditions. To date, the Company has issued only ISOs, NQSOs, restricted stock units and performance-based stock awards under its stock incentive plans.

As of March 31, 2016, 13,642,714 shares were reserved and 12,522,916 shares were available for issuance under the 2010 Incentive Plan; 2,789,628 shares were reserved and 1,249,574 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 fair value of the common stock at the date of grant. The weighted average Black-Scholes model assumptions for the three and nine months ended March 31, 2016 and 2015 were as follows:

	Three Months Ended						Nine Months Ended
	March 31,						March 31,
	2016			2015			2016			2015
Expected term (in years)		3.5			4.6			3.9			4.6
Expected volatility		43	%		47	%		43	%		46	%
Expected dividend yield		—			—			—			—
Risk-free interest rate		1.1	%		1.4	%		1.0	%		1.6	%
Grant date fair value	$	0.98		$	2.32		$	1.89		$	1.79

The Company estimates the fair value of restricted stock units with a market condition at the date of the grant using the Monte Carlo simulation model. The weighted average Monte Carlo simulation model assumptions for the three and nine months ended March 31, 2016 and 2015 were as follows:

	Three Months Ended					Nine Months Ended
	March 31,					March 31,
	2016			2015		2016			2015
Expected term (in years)		4.0			—		4.0			—
Expected volatility		45	%		—		47	%		—
Expected dividend yield		—			—		—			—
Risk-free interest rate		1.5	%		—		1.3	%		—
Grant date fair value	$	3.22			—	$	5.08			—

The fair value of restricted stock units is determined based on the closing price of the Company’s common stock on the grant date. Compensation expense is amortized net of estimated forfeitures on a straight-line basis over the requisite service period of the stock-based compensation awards.

Segment Information

9 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

Segment Information

11. 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 is its chief executive officer. The Company’s chief executive officer reviews financial information presented on a consolidated basis, accompanied by information about operating segments, including net sales and operating income before depreciation, amortization and stock-based compensation expense.

The Company determined its reportable operating segment is DMS, which derives revenue from fees earned through the delivery of qualified leads, inquiries, clicks, calls, customers and, to a lesser extent, impressions. The remaining segment does not meet the quantitative threshold for an individually reportable segment and is therefore included in the “All Other” line in the following table.

The Company evaluates the performance of its operating segments based on operating income before depreciation, amortization and stock-based compensation expense.

The Company does not allocate most of its assets, nor its depreciation and amortization expense, stock-based compensation expense, interest income, interest expense, other income, net, or (provision for) benefit from taxes by segment. Accordingly, the Company does not report such information.

Summarized information by segment was as follows (in thousands):

	Three Months Ended						Nine Months Ended
	March 31,						March 31,
	2016			2015			2016			2015
Net revenue by segment:
DMS	$	81,243		$	75,109		$	218,593		$	210,453
All Other		—			236			—			775
Total net revenue		81,243			75,345			218,593			211,228
Segment operating income before depreciation, amortization, and stock-based compensation expense:
DMS		3,364			4,131			4,440			6,159
All Other		—			139			—			481
Total segment operating income before depreciation, amortization, and stock-based compensation expense		3,364			4,270			4,440			6,640
Depreciation and amortization		(3,721	)		(4,370	)		(11,437	)		(14,778	)
Stock-based compensation expense		(2,432	)		(2,581	)		(7,265	)		(7,382	)
Total operating loss	$	(2,789	)	$	(2,681	)	$	(14,262	)	$	(15,520	)

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

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2016		2015		2016	2015
Net revenue:
United States	$	79,351	$	73,575