0001628280-21-018059 | 10-K | XBRL Viewer

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Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Jun. 30, 2021	Aug. 27, 2021	Dec. 31, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-33365
Entity Registrant Name	Cantaloupe, Inc.
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	23-2679963
Entity Address, Address Line One	100 Deerfield Lane,
Entity Address, Address Line Two	Suite 300,
Entity Address, City or Town	Malvern,
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19355
City Area Code	610
Local Phone Number	989‑0340
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	CTLP
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 567,017,906
Entity Common Stock, Shares Outstanding		71,258,047
Documents Incorporated by Reference	Selected portions of the registrant’s definitive proxy statement on Schedule 14A for the registrant’s 2022 annual meeting of stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K.
Entity Central Index Key	0000896429
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--06-30

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Current assets:
Cash and cash equivalents	$ 88,136	$ 31,713
Accounts receivable, net	27,470	17,273
Finance receivables, net	7,967	7,468
Inventory, net	5,292	9,128
Prepaid expenses and other current assets	2,414	1,782
Total current assets	131,279	67,364
Non-current assets:
Finance receivables due after one year, net	11,632	11,213
Property and equipment, net	5,570	7,872
Operating lease right-of-use assets	3,049	5,603
Intangibles, net	19,992	23,033
Goodwill	63,945	63,945
Other assets	2,205	1,993
Total non-current assets	106,393	113,659
Total assets	237,672	181,023
Current liabilities:
Accounts payable	36,775	27,058
Accrued expenses	26,460	30,265
Current obligations under long-term debt	675	3,328
Deferred revenue	1,763	1,698
Total current liabilities	65,673	62,349
Long-term liabilities:
Deferred income taxes	179	137
Long-term debt, less current portion	13,644	12,435
Operating lease liabilities, non-current	3,645	4,749
Total long-term liabilities	17,468	17,321
Total liabilities	83,141	79,670
Commitments and contingencies (Note 17)
Series A convertible preferred stock, 900,000 shares authorized, 445,063 issued and outstanding, with liquidation preferences of $21,447 and $20,779 at June 30, 2021 and 2020, respectively	3,138	3,138
Shareholders’ equity:
Preferred stock, no par value, 1,800,000 shares authorized	0	0
Common stock, no par value, 640,000,000 shares authorized, 71,258,047 and 65,196,882 shares issued and outstanding at June 30, 2021 and 2020, respectively	462,775	401,240
Accumulated deficit	(311,382)	(303,025)
Total shareholders’ equity	151,393	98,215
Total liabilities, convertible preferred stock and shareholders’ equity	$ 237,672	$ 181,023

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Statement of Financial Position [Abstract]
Convertible preferred stock, shares authorized (in shares)	900,000	900,000
Convertible preferred stock, shares issued (in shares)	445,063	445,063
Convertible preferred stock, shares outstanding (in shares)	445,063	445,063
Convertible preferred stock, liquidation preference value	$ 21,447	$ 20,779
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	1,800,000	1,800,000
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	640,000,000	640,000,000
Common stock, shares issued (in shares)	71,258,047	65,196,882
Common stock, shares outstanding (in shares)	71,258,047	65,196,882

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Revenue	$ 166,939	$ 163,153	$ 144,466
Costs of sales	112,913	116,880	104,281
Gross profit	54,026	46,273	40,185
Operating expenses:
Selling, general and administrative	58,624	61,748	46,527
Investigation, proxy solicitation and restatement expenses	0	19,810	16,073
Depreciation and amortization	4,107	4,307	4,430
Integration and acquisition costs	0	0	1,338
Total operating expenses	62,731	85,865	68,368
Operating loss	(8,705)	(39,592)	(28,183)
Other income (expense):
Interest income	1,159	1,595	1,555
Interest expense	(4,013)	(2,597)	(2,992)
Other income	3,224	0	0
Total other income (expense), net	370	(1,002)	(1,437)
Loss before income taxes	(8,335)	(40,594)	(29,620)
Provision for income taxes	(370)	(1)	(262)
Net loss	(8,705)	(40,595)	(29,882)
Preferred dividends	(668)	(668)	(668)
Net loss applicable to common shares	$ (9,373)	$ (41,263)	$ (30,550)
Net loss per common share
Basic (in USD per share)	$ (0.14)	$ (0.66)	$ (0.51)
Diluted (in USD per share)	$ (0.14)	$ (0.66)	$ (0.51)
Weighted average number of common shares outstanding used to compute net loss per share applicable to common shares
Basic (in shares)	67,002,438	62,980,193	60,061,243
Diluted (in shares)	67,002,438	62,980,193	60,061,243
License and transaction fees
Revenue	$ 139,242	$ 133,167	$ 122,908
Costs of sales	83,617	82,980	79,980
Equipment sales
Revenue	27,697	29,986	21,558
Costs of sales	$ 29,296	$ 33,900	$ 24,301

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment
Beginning balance (in shares) at Jun. 30, 2018			59,998,811
Beginning balance at Jun. 30, 2018	$ 142,688	$ 200	$ 375,436	$ (232,748)	$ 200
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation and exercises (in shares)			20,627
Stock-based compensation and exercises (net)	1,618		$ 1,618
Repurchase of stock option awards	(120)		$ (120)
Retirement of common stock (in shares)			(10,957)
Retirement of common stock	(81)		$ (81)
Net loss	(29,882)			(29,882)
Ending balance (in shares) at Jun. 30, 2019			60,008,481
Ending balance at Jun. 30, 2019	$ 114,423		$ 376,853	(262,430)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	us-gaap:AccountingStandardsUpdate201613Member
Stock based compensation and exercises (in shares)			752,808
Stock-based compensation and exercises (net)	$ 3,110		$ 3,110
Net loss	(40,595)			(40,595)
Issuance of common stock in relation to private placement, net of offering costs incurred (in shares)			3,800,000
Issuance of common stock in relation to private placement, net of offering costs incurred	16,777		$ 16,777
Issuance of common stock to Hudson Executive Capital LP (in shares)			635,593
Issuance of common stock to Hudson Executive Capital LP	4,500		$ 4,500
Ending balance (in shares) at Jun. 30, 2020			65,196,882
Ending balance at Jun. 30, 2020	98,215	$ 348	$ 401,240	(303,025)	$ 348
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation and exercises (in shares)			319,011
Stock-based compensation and exercises (net)	9,145		$ 9,145
Net loss	(8,705)			(8,705)
Issuance of common stock in relation to private placement, net of offering costs incurred (in shares)			5,730,000
Issuance of common stock in relation to private placement, net of offering costs incurred	$ 52,390		$ 52,390
Exercise of warrants (in shares)	12,154
Ending balance (in shares) at Jun. 30, 2021			71,258,047
Ending balance at Jun. 30, 2021	$ 151,393		$ 462,775	$ (311,382)

Consolidated Statements of Shareholders' Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement of Stockholders' Equity [Abstract]
Offering costs incurred	$ 2,618	$ 1,102

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net loss	$ (8,705)	$ (40,595)	$ (29,882)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Stock-based compensation	9,075	3,029	1,750
Amortization of debt issuance costs and discounts	2,735	1,283	301
Reimbursement of shareholder proxy solicitation costs	0	4,500	0
Provision for expected losses	1,236	2,958	2,534
Provision for inventory reserve	693	681	3,172
Depreciation and amortization included in operating expenses	4,107	4,307	4,430
Depreciation included in cost of sales for rental equipment	1,405	2,710	3,074
Property and equipment write-off	1,658	0	0
Gain on extinguishment of debt	(3,065)	0	0
Operating lease right-of-use asset impairment	1,578	0	0
Other	1,104	2,103	665
Changes in operating assets and liabilities:
Accounts receivable	(10,126)	1,818	(8,706)
Finance receivables	(1,877)	547	(669)
Inventory	3,142	1,463	(5,607)
Prepaid expenses and other assets	(847)	(563)	(395)
Accounts payable and accrued expenses	7,013	2,988	1,293
Operating lease liabilities	(1,014)	(1,384)	0
Deferred revenue	65	16	(132)
Net cash provided by (used in) operating activities	8,177	(14,139)	(28,172)
Cash flows from investing activities:
Purchase of property and equipment	(1,838)	(2,538)	(4,875)
Proceeds from sale of property and equipment	10	44	116
Net cash provided by (used in) investing activities	(1,828)	(2,494)	(4,759)
Cash flows from financing activities:
Cash used in retirement of common stock	0	0	(81)
Proceeds from long-term debt issuance by Antara, net of issuance costs paid to Antara	0	14,248	0
Proceeds from equity issuance by Antara, net of issuance costs paid to Antara	0	17,879	0
Proceeds from PPP Loan	0	3,065	0
Payment of repurchase of common stock awards	0	0	(120)
Payment of third-party debt issuance costs	0	(1,980)	(156)
Proceeds from long-term debt issuance by JPMorgan Chase Bank, N.A., net of debt issuance costs	14,550	0	0
Repayment of long-term debt	(15,744)	(2,522)	(23,254)
Proceeds from (repayments of) Revolving Credit Facility	0	(10,000)	0
Proceeds from private placement	55,008	0	0
Payment of equity issuance costs	(2,618)	0	0
Payment of Antara prepayment penalty and commitment termination fee	(1,200)	0	0
Proceeds from exercise of common stock options	78	192	42
Net cash provided by (used in) financing activities	50,074	20,882	(23,569)
Net increase (decrease) in cash and cash equivalents	56,423	4,249	(56,500)
Cash and cash equivalents at beginning of year	31,713	27,464	83,964
Cash and cash equivalents at end of year	88,136	31,713	27,464
Supplemental disclosures of cash flow information:
Interest paid in cash	$ 1,055	$ 1,314	$ 2,793

BUSINESS	12 Months Ended
BUSINESS	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS	BUSINESS On March 29, 2021, USA Technologies, Inc. filed Articles of Amendment to its Amended and Restated Articles of Incorporation with the Pennsylvania Department of State to effect a change of the Company’s name from “USA Technologies, Inc.” to “Cantaloupe, Inc.,” effective as of April 15, 2021. On April 19, 2021, the Company’s common stock, no par value per share (the “Common Stock”), began trading on the NASDAQ Global Select Market under the ticker symbol “CTLP” and the Company’s Series A Convertible Preferred Stock, no par value per share, began trading on the OTC Markets’ Pink Open Market under the trading symbol, “CTLP”. Cantaloupe, Inc. (“Cantaloupe” or the “Company”) is a digital payments and software services company that provides end-to-end technology solutions for the unattended retail market. We are transforming the unattended retail world by offering a solution for payments processing, as well as one that handles inventory management, pre-kitting, route logistics, warehouse and back-office management. Our enterprise-wide platform is designed to increase consumer engagement and sales revenue through digital payments, digital advertising and customer loyalty programs, while providing retailers with control and visibility over their operations and inventory. As a result, customers ranging from vending machine companies to operators of micro-markets, car wash and electric vehicle charging stations, commercial laundry, kiosks, amusements and more, can run their businesses more proactively, predictably, and competitively. Basis of Presentation The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (U.S. GAAP) and include the accounts of the Company and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. In the opinion of management, all adjustments considered necessary for a fair presentation, consisting of normal recurring adjustments, have been included. The Company operates as one operating segment because its chief operating decision maker, who is the Chief Executive Officer, reviews its financial information on a consolidated basis for purposes of making decisions regarding allocating resources and assessing performance. Certain prior period amounts have been reclassified to conform with current year presentation. Additionally, in connection with the preparation of the condensed consolidated financial statements for the three months ended September 30, 2020, December 31, 2020 and March 31, 2021, the Company identified adjustments that related to prior period activity. The Company analyzed the potential impact of the errors in accordance with the appropriate guidance, from both a qualitative and quantitative perspective, and concluded that the errors were not material to the previously issued quarterly or annual financial statements and the correcting adjustments are included within the fiscal year ended June 30, 2021 financial statements. Impact of COVID-19 The coronavirus (COVID-19) was first identified in China in December 2019, and subsequently declared a global pandemic in March 2020 by the World Health Organization. COVID-19 containment measures began in parts of the United States in March 2020 resulting in forced closure of non-essential businesses and social distancing protocols. As a result, COVID-19 has impacted our business, significantly reducing foot traffic to distributed assets containing our electronic payment solutions and reducing discretionary spending by consumers. The Company did not observe meaningful reductions in processing volume until middle of March 2020, when average daily processing volume decreased approximately 40%. By middle of April 2020, processing volumes began to recover and have improved through June 2021 and we are now operating at pre-pandemic levels of volumes. In response to the outbreak and business disruption, first and foremost, we prioritized the health and safety of our employees while continuing to diligently serve our customers. An internal task force was created at the start of the pandemic to develop measures to protect the business in light of the volatility and uncertainty caused by the COVID-19 pandemic. This included such aspects as ensuring the safety of our employees and our community by implementing work from home policies, conserving liquidity, evaluating cost saving actions, partnering with customers to position Cantaloupe for renewed growth post crisis, and temporarily pausing plans for international expansion. The liquidity conservation and cost savings initiatives included: a 20% salary reduction for the senior leadership team through December 2020; deferral of all cash-based director fees until calendar year 2021; a temporary furlough of approximately 10% of our employee base; negotiations with and concessions from vendors in regard to cost reductions and/or payment deferrals; an increased collection effort to reduce outstanding accounts receivables; and various supply chain/inventory improvements. During the summer of 2020 as restrictions lifted, our offices were opened with strict guidelines for social distancing and with adherence to state and local mandates. All of our furloughed employees returned to work by June 26, 2020. Many of our employees continue to work remotely full-time or part-time throughout fiscal year 2021. To date, our supply chain network has not been significantly disrupted and we are continuously monitoring for the impact from COVID-19. In addition, the Company received loan proceeds from the Paycheck Protection Program in the fourth quarter of fiscal year 2020 and our repayment obligations were forgiven in the fourth quarter of fiscal year 2021. See Note 10 for additional information. While we are encouraged by the recent gradual lifting of pandemic-related closures and other containment measures across the country, we continue to monitor the continuously evolving situation and follow guidance from federal, state and local public health authorities. Given the potential uncertainty of the situation, the Company cannot, at this time, reasonably estimate the longer-term repercussions of COVID-19 on our financial condition, results of operations or cash flows in the future. As of June 30, 2021, we have evaluated the potential impact of the COVID-19 outbreak on our financial statements, including, but not limited to, the impairment of goodwill and intangible assets, impairment of long-lived assets including operating lease right-of-use assets, property and equipment and allowance for doubtful accounts for accounts and finance receivables. We have concluded that there are no material impairments as a result of our evaluation. Where applicable, we have incorporated judgments and estimates of the expected impact of COVID-19 in the preparation of the financial statements based on information currently available. These judgments and estimates may change, as new events develop and additional information is obtained, and are recognized in the consolidated financial statements as soon as they become known.

ACCOUNTING POLICIES

12 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

ACCOUNTING POLICIES

CONSOLIDATION

The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.

USE OF ESTIMATES

The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates, assumptions and judgments that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.

CASH AND CASH EQUIVALENTS

Cash equivalents represent all highly liquid investments with original maturities of three months or less from time of purchase. Cash equivalents are comprised of money market funds. The Company maintains its cash in bank deposit accounts where accounts may exceed federally insured limits at times. The Company deems this credit risk not to be significant as cash is held at well-capitalized financial institutions in the U.S.

ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS

Accounts receivable include amounts due to the Company for sales of equipment, other amounts due from customers, merchant service receivables, and unbilled amounts due from customers, net of the allowance for uncollectible accounts. The Company maintains an allowance for doubtful accounts for losses resulting from the inability of its customers to make required payments, including from a shortfall in the customer transaction fund flow from which the Company would normally collect amounts due.

On July 1, 2020, we adopted ASC Topic 326, Financial Instruments - Credit Losses ("Topic 326"). Implementation of this standard is discussed below under "Measurement of Credit Losses on Financial Instruments".

The allowance is calculated under an expected loss model rather than an incurred loss model. We estimate our allowance using an aging analysis of the receivables balances, primarily based on historical loss experience, as there have been no significant changes in the mix or risk characteristics of the receivable revenue streams used to calculate historical loss rates. We also take into consideration that receivables for monthly service fees that are collected as part of the flow of funds from our transaction processing service have a lower risk profile than receivables for equipment and service fees billed under the Company’s standard payment terms of 30 to 60 days from invoice issuance, and adjust our aging analysis to incorporate those risk assessments. Current conditions are analyzed at each measurement date as we reassess whether our receivables continue to exhibit similar risk characteristics as the prior measurement date, and determine if the reserve calculation needs to be adjusted for new developments, such as a customer’s inability to meet its financial obligations. Lastly, we also factor reasonable and

supportable economic expectations into our allowance estimate for the asset’s entire expected life, which is generally less than one year.

The Company writes off receivable balances against the allowance when management determines the balance is uncollectible and the Company ceases collection efforts. Management believes that the allowance recorded is adequate to provide for its estimated credit losses.

Estimating an allowance requires us to apply judgment in relying on historical customer payment experience, regularly analyzing the financial condition of our customers, and developing macroeconomic forecasts to adequately cover expected credit losses on our receivables. By nature, such estimates are highly subjective, and it is possible that the amount of accounts receivables that we are unable to collect may be different than the amounts initially estimated in the allowance.

FINANCE RECEIVABLES

The Company offers extended payment terms to certain customers for equipment sales under its Quick Start Program. Agreements under the Quick Start Program are accounted for as sales-type leases. Accordingly, the future minimum lease payments are classified as finance receivables in the Company’s consolidated balance sheets. Finance receivables or Quick Start leases are generally for a sixty month term. The Company recognizes a portion of the note or lease payments as interest income in the accompanying consolidated financial statements based on the effective interest rate method.

Finance receivables are carried at their contractual amount net of allowance for doubtful accounts. On July 1, 2020, we adopted Topic 326. Implementation of this standard is discussed below under "Measurement of Credits Losses on Financial Instruments".

The allowance is calculated under an expected loss model rather than an incurred loss model. We estimate our allowance utilizing historical experience of payment performance, current conditions of the customer, and reasonable and supportable economic forecasts of collectability for the asset’s entire expected life, which is generally a sixty month term for finance receivables. Historical loss experience is utilized as there have been no significant changes in the mix or risk characteristics of the receivable revenue streams used to calculate historical loss rates. Current conditions are analyzed at each measurement date to reassess whether our receivables continue to exhibit similar risk characteristics as the prior measurement date, and determine if the reserve calculation needs to be adjusted for new developments, such as a customer’s inability to meet its financial obligations. Finance receivables are charged off against the allowance for credit losses when management determines that the finance receivables are uncollectible and the Company ceases collection efforts.

Estimating an allowance requires us to apply judgment in relying on historical customer payment experience, regularly analyzing the financial condition of our customers, and developing macroeconomic forecasts to adequately cover expected credit losses on our receivables. By nature, such estimates are highly subjective, and it is possible that the amount of finance receivables that we are unable to collect may be different than the amounts initially estimated in the allowance.

INVENTORY, NET

Inventory consists of finished goods. The company's inventories are valued at the lower of cost or net realizable value, generally using a weighted-average cost method.

The Company establishes allowances for slow-moving inventory based upon quality considerations and assumptions about future demand and market conditions. The inventory reserve was $3.5 million and $2.8 million for the years ended June 30, 2021 and 2020, respectively.

PROPERTY AND EQUIPMENT, NET

Property and equipment are recorded at either cost or, in the instance of an acquisition, the estimated fair value on the date of the acquisition, and are depreciated on a straight-line basis over the estimated useful lives of the related assets. Leasehold improvements are amortized on the straight-line basis over the lesser of the estimated useful life of the asset or the respective lease term. Depreciation expense on our property and equipment, excluding property and equipment used for rentals, is included in “Depreciation and amortization” in the Consolidated Statements of Operations. Depreciation expense on our property and equipment used for rentals is included in “Cost of license and transaction fees” in the Consolidated Statements of Operations. Additions and improvements that extend the estimated lives of the assets are capitalized, while expenditures for repairs and maintenance are expensed as incurred.

GOODWILL

The Company’s goodwill represents the excess of cost over fair value of the net assets purchased in acquisitions. Goodwill is not amortized to earnings, but instead is subject to periodic testing for impairment. We test goodwill for impairment at least annually, or more frequently if events or changes in circumstances indicate that impairment may have occurred. Goodwill is reviewed for impairment utilizing either a qualitative or a quantitative goodwill impairment test. If we choose to perform a qualitative assessment and determine the fair value more likely than not exceeds the carrying value, no further evaluation is necessary. When we perform the quantitative goodwill impairment test, we compare the fair value of our reporting unit to its carrying value. If the fair value of the reporting unit exceeds its carrying value, then goodwill is not considered impaired. An impairment charge is recognized for the amount by which, if any, the carrying value exceeds the reporting unit’s fair value. However, the loss recognized cannot exceed the reporting unit’s goodwill balance.

The quantitative impairment test process requires valuation of the reporting unit, which we determine using the income approach, the market approach or a combination of the two approaches. Under the income approach, we calculate the fair value of the reporting unit based on the present value of estimated future cash flows derived from assumptions that include expected growth rates and revenues, projected expenses, discount rates, capital expenditures and income tax rates. Under the market approach, we estimate the fair value based on the quoted stock price, recent equity transactions of our business, market transactions involving similar businesses and market comparables.

The Company has selected April 1 as its annual test date. The Company has concluded there has been no impairment of goodwill during the years ended June 30, 2021, 2020, or 2019. Subsequent to our annual impairment test, no indicators of impairment were identified.

INTANGIBLE AND LONG-LIVED ASSETS

The Company's intangible assets include trademarks, non-compete agreements, brand, developed technology, customer relationships and tradenames and were acquired in a purchase business combination. The Company carries these intangibles at cost, less accumulated amortization. Amortization is recorded on a straight-line basis over the estimated useful lives of the respective assets, which span between three and eighteen years, and are included in “Depreciation and amortization" in the Consolidated Statements of Operations.

There were no indefinite-lived intangible assets at June 30, 2021 or 2020.

The Company reviews its finite-lived intangible and other long-lived assets whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The carrying amount of an asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. Fair value of finite-lived intangible assets and property and equipment is based on various valuation techniques. If the carrying amount of an asset or group of assets exceeds its net realizable value, the asset will be written down to its fair value.

The Company has concluded that the carrying amount of intangible assets is recoverable as of June 30, 2021 and 2020. The Company recorded an impairment charge relating to our right-of-use assets of $1.6 million for the year ended June 30, 2021.

FAIR VALUE OF FINANCIAL INSTRUMENTS

Fair value is defined as the price that would be received in the sale of an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows:

Level 1‑ Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

Level 2‑ Inputs are other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs).

Level 3‑ Inputs are unobservable and reflect the Company’s assumptions that market participants would use in pricing the asset or liability. The Company develops these inputs based on the best information available.

CONCENTRATION OF RISKS

Concentration of revenue with customers subject the Company to operating risks. Approximately 16%, 16% and 17% of the Company’s revenue for the years ended June 30, 2021, 2020 and 2019, respectively, were concentrated with one customer. The Company’s customers are principally located in the United States.

REVENUE RECOGNITION

The revenue recognition guidance provides a single model to determine when and how revenue is recognized. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of control 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. The Company recognizes revenue using a five-step model resulting in revenue being recognized as performance obligations within a contract have been satisfied. The steps within that model include: (i) identifying the existence of a contract with a customer; (ii) identifying the performance obligations within the contract; (iii) determining the contract’s transaction price; (iv) allocating the transaction price to the contract’s performance obligations; and, (v) recognizing revenue as the contract’s performance obligations are satisfied. Judgment is required to apply the principles-based, five-step model for revenue recognition. Management is required to make certain estimates and assumptions about the Company’s contracts with its customers, including, among others, the nature and extent of its performance obligations, its transaction price amounts and any allocations thereof, the events which constitute satisfaction of its performance obligations, and when control of any promised goods or services is transferred to its customers. The standard also requires certain incremental costs incurred to obtain or fulfill a contract to be deferred and amortized on a systematic basis consistent with the transfer of goods or services to the customer.

The Company provides an end-to-end payment solution which integrates hardware, software, and payment processing in the unattended retail market. The Company has contractual agreements with customers that set forth the general terms and conditions of the relationship, including pricing of goods and services, payment terms and contract duration. Revenue is recognized when the obligation under the terms of the Company’s contract with its customer is satisfied and is measured as the amount of consideration the Company expects to receive in exchange for transferring goods or providing services.

The Company’s business model is to act as the Merchant of Record for its sellers. We provide cashless vending payment services in exchange for monthly service fees, in addition to collecting usage-based consideration for completed transactions. The contracts we enter into with third-party suppliers provide us with the right to access and direct their services when processing a transaction. The Company combines the services provided by third-party suppliers to enable customers to accept cashless payment transactions, indicating that it controls all inputs in directing their use to create the combined service. Additionally, the Company sells cashless payment devices (e.g., e-Ports, Seed), which are either directly sold or leased through the Company's QuickStart or JumpStart programs.

Cashless vending services represent a single performance obligation as the combination of the services provided gives the customer the ability to accept cashless payments. The Company’s customers are contracting for integrated cashless services in connection with purchasing or leasing unattended point-of-sale devices. The activities when combined together are so integral to the customer’s ability to derive benefit from the service, that the activities are effectively inputs to a single promise to the customer. Certain services are distinct, but are not accounted for separately as the rights are coterminous, they are transferred concurrently and the outcome is the same as accounting for the services as individual performance obligations. The single performance obligation is determined to be a stand-ready obligation to process payments whenever a consumer intends to make a purchase at a point-of-sale device. As the Company is unable to predict the timing and quantity of transactions to be processed, the assessment of the nature of the performance obligation is focused on each time increment rather than the underlying activity. Therefore, cashless vending services are viewed to comprise a series of distinct days of service that are substantially the same and have the same pattern of transfer to the customer. As a result, the promise to stand ready is accounted for as a single performance obligation.

Revenue related to cashless vending services is recognized over the period in which services are provided, with usage-based revenue recognized as transactions occur. Consideration for this service includes fixed fees for standing ready to process transactions, and generally also includes usage-based fees, priced as a percentage of transaction value and/or a specified fee per transaction processed. The total transaction price of usage-based services is determined to be variable consideration as it is based on unknown quantities of services to be performed over the contract term. The underlying variability is satisfied each day the service is performed and provided to the customer. Clients are billed for cashless vending services on a monthly basis and for transaction processing as transactions occur. Payment is due based on the Company’s standard payment terms which is typically within 30 to 60 days of invoice issuance.

Equipment sales represent a separate performance obligation, the majority of which is satisfied at a point in time through outright sales or sales-type leases when the equipment is delivered to the customer. Revenues related to JumpStart equipment are recognized over time as the customer obtains the right to use the equipment through an operating lease. Clients are billed for equipment sales on a monthly basis, with payment due based on the Company’s standard payment terms which is typically within 30 to 60 days of invoice issuance.

The Company will occasionally offer volume discounts, rebates or credits on certain contracts, which is considered variable consideration. The Company uses either the most-likely or estimated value method to estimate the amount of the consideration, based on what the Company expects to better predict the amount of consideration to which it will be entitled to on a contract-by-contract basis. The Company will qualitatively assess if the variable consideration should be limited to prevent possible significant reversals of revenue in future reporting periods.

The Company assesses the goods and/or services promised in each customer contract and separately identifies a performance obligation for each promise to transfer to the customer a distinct good or service. The Company then allocates the transaction price to each performance obligation in the contract using relative standalone selling prices. The Company determines standalone selling prices based on the price at which a good or service is sold separately. If the standalone selling price is not observable through historic data, the Company estimates the standalone selling price by considering all reasonably available information, including market data, trends, as well as other company- or customer-specific factors.

The Company’s standard payment terms are payment is due within 30 to 60 days of invoice issuance. The Company uses the practical expedient and does not recognize a significant financing component for payment considerations of less than one year.

The Company recognizes fees charged to our customers primarily on a gross basis as transaction revenue when we are the principal in respect of completing a payment transaction. As a principal to the transaction, when we are the Merchant of Record, we control the service of completing payments for our customers through the payment ecosystem. The fees paid to payment processors and other financial institutions are recognized as transaction expense. For certain transactions in which we act in the capacity as an agent, these transactions are recorded on a net basis. These are transactions in which we are not the Merchant of Record, and the customer is entering into a separate arrangement with a third party payment processor for the fulfillment of the payment service.

Warranties

The Company offers standard warranties that provide the customer with assurance that its equipment will function in accordance with contract specifications. The Company's standard warranties are not sold separately, but are included with each customer purchase. Warranties are not considered separate performance obligations and, therefore, are estimated and recorded at the time of sale.

Accounts Receivable and Contract Liabilities

A contract with a customer creates legal rights and obligations. As the Company satisfies performance obligations under customer contracts, a right to unconditional consideration is recorded as an account receivable.

Contract liabilities represent consideration received from customers in excess of revenues recognized (i.e., deferred revenue). Contract liabilities are classified as current or noncurrent based on the nature of the underlying contractual rights and obligations.

Contract Costs

The Company incurs costs to obtain contracts with customers, primarily in the form of commissions to sales employees. The Company recognizes as an asset the incremental costs of obtaining a contract with a customer if it expects to recover these costs. The Company currently does not incur material costs to fulfill its obligations under a contract once it is obtained but before transferring goods or services to the customer. Contract costs are amortized on a systematic basis consistent with the transfer to the customer of the goods or services to which the asset relates. A straight-line or proportional amortization method is used depending upon which method best depicts the pattern of transfer of the goods or services to the customer. The Company’s contracts frequently contain performance obligations satisfied at a point in time and overtime. In these instances, the Company amortizes the contract costs proportionally with the timing and pattern of revenue recognition. Amortization of costs to obtain a contract are classified as selling, general and administrative expense. In addition, these contract costs are

evaluated for impairment by comparing, on a pooled basis, the expected future net cash flows from underlying customer relationships to the carrying amount of the capitalized contract costs.

In order to determine the appropriate amortization period for contract costs, the Company considers a number of factors, including expected early terminations, estimated terms of customer relationships, the useful lives of technology Cantaloupe uses to provide goods and services to its customers, whether future contract renewals are expected and if there is any incremental commission to be paid on a contract renewal. The Company amortizes these assets over the expected period of benefit. Costs to obtain a contract with an expected period of benefit of one year or less are expensed when incurred.

Hardware is available to customers under the QuickStart program pursuant to which the customer would enter into a five-year non-cancelable lease with either the Company or a third-party leasing company for the devices. The Company utilizes its best estimate of selling price when calculating the revenue to be recorded under these leases. The QuickStart contracts qualify for sales type lease accounting. At lease inception, the Company recognizes revenue and creates a finance receivable in an amount that represents the present value of minimum lease payments. Accordingly, a portion of the lease payments are recognized as interest income. At the end of the lease period, the customer would have the option to purchase the device at its residual value. Any customer payments received in advance and prior to the Company satisfying any performance obligations are recorded as deferred revenue and amortized as revenue is recognized.

Equipment Rental

The Company offers its customers a rental program for its hardware devices, the JumpStart program (“JumpStart”). JumpStart terms are typically 36 months and are cancellable with 30 to 60 days' written notice. In accordance with ASC 840, “Leases”, the Company classifies the rental agreements as operating leases, with service fee revenue related to the leases included in license and transaction fees in the Consolidated Statements of Operations. Costs for the JumpStart revenue, which consist of depreciation expense on the JumpStart equipment, are included in cost of services in the Consolidated Statements of Operations. Equipment utilized by the JumpStart program is included in property and equipment, net on the Consolidated Balance Sheets.

LEASES

Lessee Accounting

The Company determines if an arrangement is a lease at inception. The Company has operating and finance leases for office space, warehouses and office equipment. Cantaloupe’s leases have lease terms of one year to eight years and some include options to extend and/or terminate the lease. The exercise of lease renewal options is at the Company’s sole discretion. When deemed reasonably certain of exercise, the renewal options are included in the determination of the lease term. The Company’s lease agreements do not contain any material variable lease payments, material residual value guarantees or any material restrictive covenants.

Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease Right-of-Use (“ROU”) assets and liabilities are recognized at commencement date of the lease based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate, which is the collateralized rate of interest that we would pay to borrow over a similar term an amount equal to the lease payments, based on the information available at commencement date in determining the present value of lease payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Cantaloupe has lease agreements with lease and non-lease components. The Company uses the practical expedient related to treating lease and non-lease components as a single lease component for all leases as well as electing a policy exclusion permitting leases with an original lease term of less than one year to be excluded from the ROU assets and lease liabilities. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term.

The Company follows the guidance contained in ASC 360, Impairment or Disposal of Long-Lived Assets and reviews its ROU assets for events or changes in circumstances that may indicate that the carrying amount of such assets may not be recoverable. The carrying amount of an asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If the carrying amount of an ROU exceeds its net realizable value, the asset will be written down to its fair value. The Company recorded an right-of-use asset impairment charge relating to optimizing its corporate real estate footprint of $1.6 million for the year ended June 30, 2021.

Lessor Accounting

Lessor accounting remained substantially unchanged with the adoption of Topic 842. The Company offers its customers financing for the lease of our POS electronic payment devices. We account for these transactions as sales-type leases. Our sales-type leases generally have a non-cancellable term of 60 months. Certain leases contain an end-of-term purchase option that is generally insignificant and is reasonably certain to be exercised by the lessee. Leases that do not meet the criteria for sales-type lease accounting are accounted for as operating leases, typically our JumpStart program leases. JumpStart terms are typically 36 months and are cancellable with 30 to 60 days' written notice.

The Company also uses the practical expedient related to treating lease and non-lease components as a single component for those leases where the timing and pattern of transfer for the non-lease component and associated lease component are the same and the stand-alone lease component would be classified as an operating lease if accounted for separately. The combined component is then accounted for under Topic 606 or Topic 842 depending on the predominant characteristic of the combined component, which was Topic 606 for the Company's operating leases. All QuickStart leases are sales-type and do not qualify for the election.

Lessor consideration is allocated between lease components and the non-lease components using the requirements under Topic 606. Revenue from sales-type leases is recognized upon shipment to the customer and the interest portion is deferred and recognized as earned. The revenues related to the sales-type leases are included in Equipment sales in the Consolidated Statements of Operations and a portion of the lease payments as interest income. Revenue from operating leases is recognized ratably over the applicable service period with service fee revenue related to the leases included in License and transaction fees in the Consolidated Statements of Operations.

SHIPPING AND HANDLING

Shipping and handling fees billed to our customers in connection with sales are recorded as revenue. The costs incurred for shipping and handling of our product are recorded as cost of equipment.

RESEARCH AND DEVELOPMENT EXPENSES

Research and development expenses are expensed as incurred and primarily consist of personnel, contractors and product development costs. Research and development expenses, which are included in selling, general and administrative expenses in the Consolidated Statements of Operations, were approximately $3.9 million, $3.8 million and $4.6 million, for the fiscal years ended June 30, 2021, 2020, and 2019, respectively. Our research and development initiatives focus on adding features and functionality to our system solutions through the development and utilization of our processing and reporting network and new technology.

SOFTWARE DEVELOPMENT COSTS

We capitalize qualifying internally-developed software development costs incurred during the application development stage, as long as it is probable the project will be completed, and the software will be used to perform the function intended. Capitalization of such costs ceases once the project is substantially complete and ready for its intended use. Capitalized software development costs are included in “Property and equipment, net” on our consolidated balance sheets and are amortized on a straight-line basis over their expected useful lives.

ACCOUNTING FOR EQUITY AWARDS

The cost of services received in exchange for an award of equity instruments related to employees and non-employees is based on the grant-date fair value of the award and allocated over the requisite service period of the award. When the requisite service period precedes the grant date, the Company begins recognizing compensation cost before a grant date is established.

These costs are recorded in selling, general and administrative expenses.

LOSS CONTINGENCIES

From time to time, we are involved in litigation, claims, contingencies and other legal matters. The Company’s management and its legal counsel assess such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company's management team evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein.

If the assessment of a contingency indicates it is probable that a loss has been incurred and the amount of the liability can be estimated, the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates a loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the nature of the guarantee would be disclosed.

SALES TAX RESERVE

The Company has recorded a contingent liability for sales tax, included in accrued expenses in the consolidated balance sheet. On a quarterly basis, the Company accrues interest on the unpaid balance. The estimated liability is adjusted upon the payment of sales tax related to the accrual, the changes in state tax laws that may impact the accrual and the expiration of the statute of limitations for open years under review. The liability includes significant judgments and estimates that may change in the future, and the actual liability may be different from our current estimate. Future changes to the sales tax reserve amount will be recorded within selling, general, and administrative expenses in the consolidated statements of operations and accrued expenses in the consolidated balance sheets.

INCOME TAXES

Income taxes are computed using the asset and liability method of accounting. Under the asset and liability method, a deferred tax asset or liability is recognized for estimated future tax effects attributable to temporary differences and carryforwards. The measurement of deferred income tax assets is adjusted by a valuation allowance, if necessary, to recognize future tax benefits only to the extent, based on available evidence, it is more likely than not such benefits will be realized.

Tax positions must meet a “more-likely-than-not” recognition threshold to be recognized. The Company recognizes interest and penalties, if any, related to uncertain tax positions in selling, general and administrative expenses. Interest and penalties related to uncertain tax positions incurred during the fiscal years ended June 30, 2021, 2020, and 2019 were immaterial.

The Company files income tax returns in the United States federal jurisdiction and various state jurisdictions. The tax years ended June 30, 2017 through June 30, 2020 remain open to examination by taxing jurisdictions to which the Company is subject. While the statute of limitations has expired for years prior to the year ended June 30, 2017, changes in reported losses for those years are examinable by tax authorities to the extent that operating loss carryforwards from those prior years impact upon taxable income in current years. As of June 30, 2021, the Company did not have any income tax examinations in process.

EARNINGS (LOSS) PER COMMON SHARE

Basic earnings (loss) per share are calculated by dividing net income (loss) applicable to common shares by the weighted average common shares outstanding for the period. Diluted earnings (loss) per share are calculated by dividing net income (loss) applicable to common shares by the weighted average common shares outstanding for the period plus the dilutive effects of common stock equivalents unless the effects of such common stock equivalents are anti-dilutive. For the years ended June 30, 2021, 2020 and 2019, no effect for common stock equivalents was considered in the calculation of diluted earnings (loss) per share because their effect was anti-dilutive.

RECENT ACCOUNTING PRONOUNCEMENTS

Accounting pronouncements adopted

Measurement of Credit Losses on Financial Instruments

The Company adopted Topic 326 on July 1, 2020 using the modified retrospective approach through an adjustment to retained earnings, and began calculating our allowance for accounts and finance receivables under an expected loss model rather than an incurred loss model. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods.

Topic 326 introduces a new credit loss impairment methodology for financial assets measured at amortized cost, requiring recognition of the full lifetime expected credit losses upon initial recognition of the financial asset and each reporting period, replacing current GAAP, which generally requires that a loss be incurred before it is recognized. The expected credit loss model is based on historical experience, current conditions, and reasonable and supportable economic forecasts of collectability.

We estimate our allowances using an aging analysis of the receivables balances, primarily based on historical loss experience, as there have been no significant changes in the mix or risk characteristics of the receivable revenue streams used to calculate historical loss rates. We also take into consideration that receivables for monthly service fees that are collected as part of the flow of funds from our transaction processing service have a lower risk profile than receivables for equipment and service fees billed under the Company’s standard payment terms of 30 to 60 days from invoice issuance, and adjust our aging analysis to incorporate those risk assessments. Current conditions are analyzed at each measurement date as we reassess whether our receivables continue to exhibit similar risk characteristics as the prior measurement date, and determine if the reserve calculation needs to be adjusted for new developments, such as a customer’s inability to meet its financial obligations. Lastly, we also factor reasonable and supportable economic expectations into our allowance estimate for the asset’s entire expected life, which is generally less than one year for accounts receivable and five years for finance receivables.

The adoption of this pronouncement resulted in a net decrease of $0.3 million in retained earnings, with an offsetting adjustment to the allowance for doubtful accounts and finance receivables as of July 1, 2020.

The following table represents a roll forward of the allowance for doubtful accounts for accounts and finance receivables for the

year ending June 30, 2021:


	Year ended June 30, 2021
($ in thousands)	Accounts receivable	Finance receivable

Beginning balance of allowance at June 30, 2020, prior to adopting ASC 326	7,676	150
Impact of adoption of ASC 326	(757)	409
Provision for expected losses	686	550
Write-offs	(991)	—
Balance at June 30, 2021	6,614	1,109

Accounting pronouncements to be adopted

The Company is evaluating whether the effects of the following recent accounting pronouncements, or any other recently issued but not yet effective accounting standards, will have a material effect on the Company’s consolidated financial position, results of operations or cash flows.

ASU 2019-12 - Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” ASU 2019-12 is intended to simplify accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and amends existing guidance to improve consistent application. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years. The Company does not expect the changes to have a material impact on its financial statements.

ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting

In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” This standard provides practical expedients for contract modifications with the transition from reference rates, such as LIBOR, that are expected to be discontinued. This guidance is applicable for the Company's revolving credit facility and secured term facility with JPMorgan Chase Bank, N.A., which uses LIBOR as a reference rate. In addition, the facility provides for an alternative rate of interest if LIBOR is discontinued. The Company will continue to evaluate ASU 2020-04 to determine the timing and extent to which we will apply the provided accounting relief.

ASU 2020-10, Codification Improvements

In October 2020, the FASB issued ASU 2020-10, “Codification Improvements.” The purpose of the ASU is to update a variety of ASC Topics to make conforming amendments, clarifications to guidance, simplifications to wording or structure of guidance, and other minor improvements. The ASU is effective for fiscal years beginning after December 15, 2020 with early application permitted. The Company does not expect the changes to have a material impact on its financial statements.

LEASES

12 Months Ended

Jun. 30, 2021

Leases [Abstract]

LEASES

Lessee accounting

On July 1, 2019, the Company adopted Topic 842 using the modified retrospective transition method applying the guidance to leases existing as of the effective date. Topic 842 requires, among other items, lessees to recognize a ROU asset and a related lease liability for most leases on the balance sheet. Lessees and lessors are required to disclose quantitative and qualitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. The Company determined that there was no cumulative effect adjustment to retained earnings on the consolidated balance sheet at the date of adoption. Periods prior to the adoption on July 1, 2019 are presented under guidance outlined in Topic 840.

The Company’s adoption of Topic 842 resulted in an increase in the Company’s assets and liabilities of approximately $3.9 million at July 1, 2019, and did not have a material impact to the Company’s consolidated statements of operations or its consolidated statements of cash flows.

The Company determines if an arrangement is a lease at inception. The Company has operating leases for office space, warehouses and office equipment. The exercise of lease renewal options is at the Company’s sole discretion. When deemed reasonably certain of exercise, the renewal options are included in the determination of the lease term. The Company’s lease agreements do not contain any material variable lease payments, material residual value guarantees or any material restrictive covenants.

Right-of-Use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at commencement date of the lease based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate, which is the collateralized rate of interest that we would pay to borrow over a similar term an amount equal to the lease payments, based on the information available at commencement date in determining the present value of lease payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives received. The Company also has lease agreements with lease and non-lease components. The Company elected the practical expedient related to treating lease and non-lease components as a single lease component for all leases as well as electing a policy exclusion permitting leases with an original lease term of less than one year to be excluded from the ROU assets and lease liabilities. Lease expense for operating lease payments is recognized on a straight-line basis over

the lease term.

At June 30, 2021, the Company has the following balances recorded in the balance sheet related to its lease arrangements:


($ in thousands)	Balance Sheet Classification	As of June 30, 2021		As of June 30, 2020

Assets
Operating leases	Operating lease right-of-use assets	$	3,049	$	5,603

Liabilities
Current	Accrued expenses	1,166		1,075
Long-term	Operating lease liabilities, non-current	3,645		4,749
Total lease liabilities		$	4,811	$	5,824

Components of lease cost are as follows:


($ in thousands)	Year ended June 30, 2021		Year ended June 30, 2020

Operating lease costs*	$	2,079	$	2,525

* Includes short-term lease and variable lease costs, which are not material.

Supplemental cash flow information and non-cash activity related to our leases are as follows:


($ in thousands)	Year ended June 30, 2021		Year ended June 30, 2020

Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	1,635	$	1,784

Non-cash activity
Right-of-use assets obtained in exchange for lease obligations
Operating lease liabilities	$	—	$	3,384

Weighted-average remaining lease term and discount rate for our leases are as follows:


	Year ended June 30, 2021		Year ended June 30, 2020
Weighted-average remaining lease term (years)
Operating leases	4.3		5.2

Weighted-average discount rate
Operating leases	6.9	%	6.8	%

Maturities of lease liabilities by fiscal year for our leases are as follows:


($ in thousands)	Operating Leases
2022	$	1,460
2023	1,492
2024	1,029
2025	707
2026	628
Thereafter	265
Total lease payments	$	5,581
Less: Imputed interest	(770)
Present value of lease liabilities	$	4,811

Lessor accounting

The Company offers its customers financing for the lease of our point of sale ("POS") electronic payment devices. We account for these transactions as sales-type leases. Our sales-type leases generally have a non-cancellable term of 60 months. Certain leases contain an end-of-term purchase option that is generally insignificant and is reasonably certain to be exercised by the lessee. Leases that do not meet the criteria for sales-type lease accounting are accounted for as operating leases, which are typically our JumpStart program leases, which are agreements for renting POS electronic payment devices. JumpStart terms are typically 36 months and are cancellable with 30 to 60 days' written notice.

The Company treats lease and non-lease components as a single component for those leases where the timing and pattern of transfer for the non-lease component and associated lease component are the same and the stand-alone lease component would be classified as an operating lease if accounted for separately. The combined component is then accounted for under Topic 606, Revenue from Contracts with Customers or Topic 842 depending on the predominant characteristic of the combined component, which was Topic 606 for the Company's operating leases. All QuickStart leases are sales-type and do not qualify for the election.

Property and equipment used for the operating lease rental program consisted of the following:


($ in thousands)	June 30, 2021		June 30, 2020
Cost	$	26,753	32,445
Accumulated depreciation	(24,487)		(27,745)
Net	$	2,266	$	4,700

The Company’s net investment in sales-type leases (carrying value of lease receivables) and the future minimum amounts to be collected on these lease receivables as of June 30, 2021 are disclosed within Note 6, Finance Receivables.

LEASES

Lessee accounting

the lease term.

At June 30, 2021, the Company has the following balances recorded in the balance sheet related to its lease arrangements:


($ in thousands)	Balance Sheet Classification	As of June 30, 2021		As of June 30, 2020

Assets
Operating leases	Operating lease right-of-use assets	$	3,049	$	5,603

Liabilities
Current	Accrued expenses	1,166		1,075
Long-term	Operating lease liabilities, non-current	3,645		4,749
Total lease liabilities		$	4,811	$	5,824

Components of lease cost are as follows:


($ in thousands)	Year ended June 30, 2021		Year ended June 30, 2020

Operating lease costs*	$	2,079	$	2,525

* Includes short-term lease and variable lease costs, which are not material.

Supplemental cash flow information and non-cash activity related to our leases are as follows:


($ in thousands)	Year ended June 30, 2021		Year ended June 30, 2020

Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	1,635	$	1,784

Non-cash activity
Right-of-use assets obtained in exchange for lease obligations
Operating lease liabilities	$	—	$	3,384

Weighted-average remaining lease term and discount rate for our leases are as follows:


	Year ended June 30, 2021		Year ended June 30, 2020
Weighted-average remaining lease term (years)
Operating leases	4.3		5.2

Weighted-average discount rate
Operating leases	6.9	%	6.8	%

Maturities of lease liabilities by fiscal year for our leases are as follows:


($ in thousands)	Operating Leases
2022	$	1,460
2023	1,492
2024	1,029
2025	707
2026	628
Thereafter	265
Total lease payments	$	5,581
Less: Imputed interest	(770)
Present value of lease liabilities	$	4,811

Lessor accounting

Property and equipment used for the operating lease rental program consisted of the following:


($ in thousands)	June 30, 2021		June 30, 2020
Cost	$	26,753	32,445
Accumulated depreciation	(24,487)		(27,745)
Net	$	2,266	$	4,700

LEASES

Lessee accounting

the lease term.

At June 30, 2021, the Company has the following balances recorded in the balance sheet related to its lease arrangements:


($ in thousands)	Balance Sheet Classification	As of June 30, 2021		As of June 30, 2020

Assets
Operating leases	Operating lease right-of-use assets	$	3,049	$	5,603

Liabilities
Current	Accrued expenses	1,166		1,075
Long-term	Operating lease liabilities, non-current	3,645		4,749
Total lease liabilities		$	4,811	$	5,824

Components of lease cost are as follows:


($ in thousands)	Year ended June 30, 2021		Year ended June 30, 2020

Operating lease costs*	$	2,079	$	2,525

* Includes short-term lease and variable lease costs, which are not material.

Supplemental cash flow information and non-cash activity related to our leases are as follows:


($ in thousands)	Year ended June 30, 2021		Year ended June 30, 2020

Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	1,635	$	1,784

Non-cash activity
Right-of-use assets obtained in exchange for lease obligations
Operating lease liabilities	$	—	$	3,384

Weighted-average remaining lease term and discount rate for our leases are as follows:


	Year ended June 30, 2021		Year ended June 30, 2020
Weighted-average remaining lease term (years)
Operating leases	4.3		5.2

Weighted-average discount rate
Operating leases	6.9	%	6.8	%

Maturities of lease liabilities by fiscal year for our leases are as follows:


($ in thousands)	Operating Leases
2022	$	1,460
2023	1,492
2024	1,029
2025	707
2026	628
Thereafter	265
Total lease payments	$	5,581
Less: Imputed interest	(770)
Present value of lease liabilities	$	4,811

Lessor accounting

Property and equipment used for the operating lease rental program consisted of the following:


($ in thousands)	June 30, 2021		June 30, 2020
Cost	$	26,753	32,445
Accumulated depreciation	(24,487)		(27,745)
Net	$	2,266	$	4,700

REVENUE

12 Months Ended

Jun. 30, 2021

Revenue from Contract with Customer [Abstract]

REVENUE

Disaggregated Revenue

Based on similar operational and economic characteristics, the Company’s revenue from contracts with customers is disaggregated by License and transaction fees and Equipment sales, as reported in the Company’s Consolidated Statements of Operations. The Company believes these revenue categories depict how the nature, amount, timing, and uncertainty of its revenue and cash flows are influenced by economic factors, and also represent the level at which management makes operating decisions and assesses financial performance.

Transaction Price Allocated to Future Performance Obligations

In determining the transaction price allocated to unsatisfied performance obligations, we did not include non-recurring charges. Further, we applied the practical expedient to not consider arrangements with an original expected duration of one year or less, which are primarily month to month rental agreements. The majority of contracts are considered to have a contractual term of between 36 and 60 months based on implied and explicit termination penalties. These amounts will be converted into revenue in future periods as work is performed, primarily based on the services provided or at delivery and acceptance of products, depending on the applicable accounting method.

The following table reflects the estimated fees to be recognized in the future related to performance obligations that are unsatisfied at the end of the period:


($ in thousands)	As of June 30, 2021

2022	$	13,275
2023	11,492
2024	7,375
2025	3,698
2026	1,809
Thereafter	17
Total	$	37,666

Contract Liabilities

The Company's contract liability (i.e., deferred revenue) balances are as follows:


	Year ended June 30,
($ in thousands)	2021		2020

Deferred revenue, beginning of the period	$	1,698	$	1,681
Deferred revenue, end of the period	1,763		1,698
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period	595		777

The change in the contract liabilities year-over-year is primarily the result of timing difference between the Company's satisfaction of a performance obligation and payment from the customer.

Contract Costs

At June 30, 2021, the Company had net capitalized costs to obtain contracts of $0.4 million included in Prepaid expenses and other current assets and $2 million included in Other noncurrent assets on the Consolidated Balance Sheet. None of these capitalized contract costs were impaired. During the year ended June 30, 2021, amortization of capitalized contract costs was $0.6 million.

At June 30, 2020, the Company had net capitalized costs to obtain contracts of $0.4 million included in Prepaid expenses and other current assets and $1.8 million included in Other noncurrent assets on the Consolidated Balance Sheet. None of these capitalized contract costs were impaired. During the year ended June 30, 2020, amortization of capitalized contract costs was $0.5 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 http://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 http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

LOSS PER SHARE CALCULATION

12 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

LOSS PER SHARE CALCULATION

Basic loss per share is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted earnings per share, applicable only to years ended with reported income, is computed by dividing net income by the weighted average number of common shares outstanding during the period plus the dilutive effect of outstanding stock options and restricted stock-based awards using the treasury stock method. The calculation of basic and diluted loss per share is presented below:


	Year ended June 30,
($ in thousands, except per share data)	2021		2020		2019

Numerator for basic and diluted loss per share
Net loss	$	(8,705)	$	(40,595)	$	(29,882)
Preferred dividends	(668)		(668)		(668)
Net loss available to common shareholders	$	(9,373)	$	(41,263)	$	(30,550)

Denominator for basic loss per share - Weighted average shares outstanding	67,002,438		62,980,193		60,061,243
Effect of dilutive potential common shares	—		—		—
Denominator for diluted loss per share - Adjusted weighted average shares outstanding	67,002,438		62,980,193		60,061,243

Basic and diluted loss per share	$	(0.14)	$	(0.66)	$	(0.51)

Anti-dilutive shares excluded from the calculation of diluted loss per share were 4,139,745, 2,779,222, and 1,297,073 for the years ended June 30, 2021, 2020 and 2019, respectively.

FINANCE RECEIVABLES

12 Months Ended

Jun. 30, 2021

Receivables [Abstract]

FINANCE RECEIVABLES

The Company’s finance receivables consist of financed devices under the QuickStart program and devices contractually associated with the Seed platform. Predominately all of the Company’s finance receivables agreements are classified as non-cancellable sixty-month sales-type leases. As of June 30, 2021 and 2020, finance receivables consist of the following:


	As of June 30,
($ in thousands)	2021		2020

Current finance receivables, net	$	7,967	$	7,468
Finance receivables due after one year, net	11,632		11,213
Total finance receivables, net of allowance of $1,109 and $150, respectively	$	19,599	$	18,681

We collect lease payments from customers primarily as part of the flow of funds from our transaction processing service. Balances are considered past due if customers do not have sufficient transaction revenue to cover the monthly lease payment by

the end of the monthly billing period. The Company routinely monitors customer payment performance and uses prior payment performance as a measure to assess the capability of the customer to repay contractual obligations of the lease agreements as scheduled. On an as-needed basis, qualitative information may be taken into consideration if new information arises related to the customer’s ability to repay the lease.

Credit risk for these receivables is continuously monitored by management and reflected within the allowance for finance receivables by aggregating leases with similar risk characteristics into pools that are collectively assessed. Because the Company’s lease contracts generally have similar terms, customer characteristics around transaction processing volume and sales were used to disaggregate the leases. Our key credit quality indicator is the amount of transaction revenue we process for each customer relative to their lease payment due, as we consider this customer characteristic to be the strongest predictor of the

risk of customer default. Customers with low processing volume or with transaction sales that are insufficient to cover the lease

payment are considered to be at a higher risk of customer default.

Customers are pooled based on their ratio of gross sales to required monthly lease obligations. We categorize outstanding receivables into two categories: high ratio customers (customers who have adequate transaction processing volumes to cover

monthly fees) and low ratio customers (customers that do not consistently have adequate transaction processing volumes to cover monthly fees). Using these two categories, we performed an analysis of historical write-offs to calculate reserve percentages by aging buckets for each category of customer.

At June 30, 2021, the gross lease receivable by current payment performance on a contractual basis and year of origination consisted of the following:


	Leases by Origination
($ in thousands)		Up to 1 Year Ago		Between 1 and 2 Years Ago		Between 2 and 3 Years Ago		Between 3 and 4 Years Ago		Between 4 and 5 Years Ago		More than 5 Years Ago		Total

Current		$	6,504	$	4,109	$	3,751	$	2,522	$	1,249	$	982	$	19,117
30 days and under		20		67		90		93		11		1		282
31 - 60 days		4		9		22		2		1		—		38
61 - 90 days		10		42		66		54		10		—		182
Greater than 90 days		46		69		490		419		54		11		1,089
Total finance receivables		$	6,584	$	4,296	$	4,419	$	3,090	$	1,325	$	994	$	20,708

At June 30, 2020, the gross lease receivable by current payment performance on a contractual basis and year of origination

consisted of the following:


	Leases by Origination
($ in thousands)		Up to 1 Year Ago		Between 1 and 2 Years Ago		Between 2 and 3 Years Ago		Between 3 and 4 Years Ago		Between 4 and 5 Years Ago		More than 5 Years Ago		Total

Current		$	4,950	$	4,406	$	4,811	$	2,730	$	555	$	22	$	17,474
30 days and under		40		66		121		28		11		1		267
31 - 60 days		13		15		13		—		—		—		41
61 - 90 days		10		44		62		19		3		—		138
Greater than 90 days		22		263		537		67		14		8		911
Total finance receivables		$	5,035	$	4,794	$	5,544	$	2,844	$	583	$	31	$	18,831

At June 30, 2021, credit quality indicators by year of origination consisted of the following:


	Leases by Origination
($ in thousands)		Up to 1 Year Ago		Between 1 and 2 Years Ago		Between 2 and 3 Years Ago		Between 3 and 4 Years Ago		Between 4 and 5 Years Ago		More than 5 Years Ago		Total

High ratio customers		$	6,184	$	3,963	$	3,602	$	2,362	$	1,181	$	975	$	18,267
Low ratio customers		400		333		817		728		144		19		2,441
Total finance receivables		$	6,584	$	4,296	$	4,419	$	3,090	$	1,325	$	994	$	20,708

At June 30, 2020, credit quality indicators by year of origination consisted of the following:


	Leases by Origination
($ in thousands)		Up to 1 Year Ago		Between 1 and 2 Years Ago		Between 2 and 3 Years Ago		Between 3 and 4 Years Ago		Between 4 and 5 Years Ago		More than 5 Years Ago		Total

High ratio customers		$	4,801	$	4,209	$	4,402	$	2,521	$	356	$	14	$	16,303
Low ratio customers		234		585		1,142		323		227		17		2,528
Total finance receivables		$	5,035	$	4,794	$	5,544	$	2,844	$	583	$	31	$	18,831

The following table represents a rollforward of the allowance for finance receivables for the year ending June 30, 2021 and 2020:



($ in thousands)	Year ended June 30, 2021		Year ended June 30, 2020

Balance at June 30	$	150	$	606
Impact of ASC 326*	409		—
Provision for expected losses	550		142
Write-offs	—		(598)
Balance June 30	$	1,109	$	150

* The Company adopted ASC 326 on July 1, 2020.

Cash to be collected on our performing finance receivables due for each of the fiscal years after June 30, 2021 are as follows:


($ in thousands)

2022	$	11,764
2023	5,669
2024	3,852
2025	2,314
2026	983
Thereafter	13
Total amounts to be collected	24,595
Less: interest	(3,887)
Less: allowance for nonperforming receivables	(1,109)
Total finance receivables	$	19,599

PROPERTY AND EQUIPMENT, NET

12 Months Ended

Jun. 30, 2021

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

Property and equipment consisted of the following:


		As of June 30, 2021
($ in thousands)	Useful Lives	Cost		Accumulated Depreciation		Net
Computer equipment and software	3-7 years	$	6,497	$	(6,212)	$	285
Internal-use software	3-5 years	4,523		(1,821)		2,702
Property and equipment used for rental program	5 years	26,753		(24,487)		2,266
Furniture and equipment	3-7 years	1,471		(1,222)		249
Leasehold improvements	(a)	192		(124)		68
		$	39,436	$	(33,866)	$	5,570


		As of June 30, 2020
($ in thousands)	Useful Lives	Cost		Accumulated Depreciation		Net
Computer equipment and software	3-7 years	$	6,371	$	(6,183)	$	188
Internal-use software	3-5 years	3,928		(1,344)		2,584
Property and equipment used for rental program	5 years	32,445		(27,745)		4,700
Furniture and equipment	3-7 years	1,554		(1,252)		302
Leasehold improvements	(a)	286		(188)		98
		$	44,584	$	(36,712)	$	7,872

(a) Lesser of lease term or estimated useful life

The Company's total depreciation expense is comprised of depreciation included in our cost of sales for rental equipment and depreciation included in our operating expenses. Depreciation expense included within cost of sales for rental equipment was $1.4 million, $2.7 million, and $3.1 million for the years ended June 30, 2021, 2020, and 2019, respectively. Depreciation expense included within operating expenses for the years ended June 30, 2021, 2020, and 2019 was $1 million, $1.2 million and $1.3 million, respectively.

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

Goodwill and intangible asset balances consisted of the following:


	As of June 30, 2021						Amortization Period
($ in thousands)	Gross		Accumulated Amortization		Net

Intangible assets:
Brand and tradenames	$	1,640	$	(840)	$	800	3 - 7 years
Developed technology	10,939		(6,890)		4,049		5 - 6 years
Customer relationships	19,049		(3,906)		15,143		10 - 18 years
Total intangible assets	$	31,628	$	(11,636)	$	19,992

Goodwill	$	63,945	$	—	$	63,945	Indefinite


	As of June 30, 2020						Amortization Period
($ in thousands)	Gross		Accumulated Amortization		Net

Intangible assets:
Brand and tradenames	$	1,695	$	(699)	$	996	3 - 7 years
Developed technology	10,939		(5,110)		5,829		5 - 6 years
Customer relationships	19,049		(2,841)		16,208		10 - 18 years
Total intangible assets	$	31,683	$	(8,650)	$	23,033

Goodwill	$	63,945	$	—	$	63,945	Indefinite

For the years ended June 30, 2021, 2020 and 2019, amortization expense related to intangible assets was $3.1 million, $3.1 million and $3.2 million, respectively. The weighted-average remaining useful life of the finite-lived intangible assets was 11.43 years as of June 30, 2021, of which the weighted-average remaining useful life for the brand and tradenames was 3.4 years, for the developed technology was 2.3 years, and for the customer relationships was 14.3 years.

Estimated annual amortization expense for intangible assets is as follows (in thousands):


2022	$	3,018
2023	3,018
2024	1,917
2025	1,155
2026	1,058
Thereafter	9,826
	$	19,992

ACCRUED EXPENSES

12 Months Ended

Jun. 30, 2021

Accrued Liabilities [Abstract]

ACCRUED EXPENSES

Accrued expenses consisted of the following as of June 30, 2021 and 2020:


	As of June 30,
($ in thousands)	2021		2020

Sales tax reserve	$	17,099	$	20,036
Accrued compensation and related sales commissions	4,233		2,757
Operating lease liabilities, current	1,166		1,075
Accrued professional fees	1,739		924
Income taxes payable	368		123
Accrued other taxes and filing fees	1,082		220
Accrued other, including settlement of shareholder class action lawsuit	773		5,130
Total accrued expenses	$	26,460	$	30,265

DEBT AND OTHER FINANCING ARRANGEMENTS

12 Months Ended

Jun. 30, 2021

Line of Credit Facility [Abstract]

DEBT AND OTHER FINANCING ARRANGEMENTS

The Company's debt and other financing arrangements as of June 30, 2021 and 2020 consisted of the following:


	As of June 30,
($ in thousands)	2021		2020

2020 Antara Term Facility	$	—	$	15,000
2021 JPMorgan Credit Facility	14,437		—
PPP and other loans	113		3,358
Less: unamortized issuance costs and debt discount	(231)		(2,595)
Total	14,319		15,763
Less: debt and other financing arrangements, current	(675)		(3,328)
Debt and other financing arrangements, noncurrent	$	13,644	$	12,435

Details of interest expense presented on the Consolidated Statements of Operations are as follows:


	Year ended June 30,
($ in thousands)	2021		2020		2019
2020 Antara Term Facility	$	2,779	$	1,218	$	—
2021 JPMorgan Credit Facility	1,006		—		—
2018 JPMorgan Revolving Credit Facility	—		303		658
2018 JPMorgan Term Loan	—		160		1,232
Other interest expense	228		916		1,102
Total interest expense	$	4,013	$	2,597	$	2,992

JPMorgan Chase Bank Agreement

On August 14, 2020, the Company repaid all amounts outstanding under the $30.0 million senior secured term loan facility (“2020 Antara Term Facility”) with Antara Capital Master Fund LP (“Antara”) and entered into a credit agreement (the “2021 JPMorgan Credit Agreement”) with JPMorgan Chase Bank, N.A (“JPMorgan”).

The 2021 JPMorgan Credit Agreement provides for a $5 million secured revolving credit facility (the “2021 JPMorgan Revolving Facility”) and a $15 million secured term facility (the “2021 JPMorgan Secured Term Facility” and together with the 2021 JPMorgan Revolving Facility, the “2021 JPMorgan Credit Facility”), which includes an uncommitted expansion feature that allows the Company to increase the total revolving commitments and/or add new tranches of term loans in an aggregate amount not to exceed $5 million. In connection with the consummation of the 2021 JPMorgan Credit Agreement, the Company repaid all amounts outstanding under the 2020 Antara Term Facility. The Company recognized $2.8 million of interest expense related to the 2020 Antara Term Facility during the fiscal year ended June 30, 2021, including the recognition of $2.6 million of unamortized issuance costs and debt discount as interest expense, reflecting the difference between the carrying value of the 2020 Antara Term Facility and the amount due upon repayment.

The 2021 JPMorgan Credit Facility has a three year maturity, with interest determined, at the Company’s option, on a base rate of LIBOR or Prime Rate plus an applicable spread tied to the Company’s total leverage ratio and having ranges between 2.75% and 3.75% for Prime rate loans and between 3.75% and 4.75% for LIBOR rate loans. In the event of default, the interest rate may be increased by 2.00%. The 2021 JPMorgan Credit Facility will also carry a commitment fee of 0.50% per annum on the unused portion. From August 14, 2020 through March 2, 2021, the applicable interest rate was Prime Rate plus 3.75%. On March 2, 2021, the Company entered into an amendment (the “First Amendment”) to the 2021 JPMorgan Credit Facility lowering the interest rate charged to the Company. In conjunction with the First Amendment, the Company elected to convert its loans to a Eurodollar borrowing which is subject to a LIBOR based interest rate. As of June 30, 2021, the applicable interest rate for the 2021 JPMorgan Secured Term Facility is a base rate of 0.75% and a spread of 4.25% for a total applicable interest rate of 5%.

Principal payments are due in quarterly installments of $187,500 beginning December 31, 2020 through September 30, 2022 for a total annual repayment of $750,000 and total repayment over the period of $1,500,000. Beginning December 31, 2022 through June 30, 2023, principal payments are due in quarterly installments of $375,000 for a total repayment over the period of $1,125,000. The remaining unpaid principal amounts are due at the maturity date of the 2021 JPMorgan Credit Facility.

The Company’s obligations under the 2021 JPMorgan Credit Facility are secured by first priority security interests in substantially all of the assets of the Company. The 2021 JPMorgan Credit Agreement includes customary representations, warranties and covenants, and acceleration, indemnity and events of default provisions, including a financial covenant requiring the Company to maintain an adjusted quick ratio of not less than 2.75 to 1.00 beginning January 1, 2021 not less than 3.00 to 1.00 beginning April 1, 2021, and a financial covenant requiring the Company to maintain, as of the end of each of its fiscal quarters commencing with the fiscal quarter ended December 31, 2021, a total leverage ratio of not greater than 3.00 to 1.00.

The Company was in compliance with its financial covenants as of June 30, 2021.

Term Facility with Antara

On October 9, 2019, the Company entered into a commitment letter with Antara Capital Master Fund LP (“Antara”), pursuant to which Antara committed to extend to the Company a $30.0 million senior secured term loan facility (“2020 Antara Term Facility”). On October 31, 2019, the Company entered into a Financing Agreement with Antara to draw $15.0 million on the 2020 Antara Term Facility and agreed to draw an additional $15.0 million at any time between July 31, 2020 and April 30, 2021, subject to the terms of the Financing Agreement. The outstanding amount of the draws under the 2020 Antara Term Facility bore interest at 9.75% per annum, payable monthly in arrears. The proceeds of the initial draw were used to repay the outstanding balance of the 2018 Revolving Credit Facility (as defined below) due to JPMorgan. in the amount of $10.1 million, including accrued interest, and to pay transaction expenses. The Company would also incur a prepayment premium of 5% of the principal balance if prepaid on or prior to December 31, 2020.

On October 9, 2019, the Company also sold shares of the Company’s common stock to Antara at a price below market value. Since the 2020 Antara Term Facility and equity issuance were negotiated in contemplation of each other and executed within a short period of time, the Company evaluated the debt and equity financing as a combined arrangement, and estimated the fair values of the debt and equity components to allocate the proceeds, net of the registration rights agreement liability on a relative fair value basis between the debt and equity components. The non-lender fees incurred to establish the debt and equity financing arrangement were allocated to the debt and equity components on a relative fair value basis and capitalized on the Company’s balance sheet of which $0.9 million was allocated to debt issuance costs and $0.1 million was allocated to debt commitment fees. The 2020 Antara Term Facility agreement also contained a mandatory prepayment feature that was determined to be an embedded derivative, requiring bifurcation and fair value recognition for the derivative liability. The allocation of the proceeds to the debt component and the bifurcation of the embedded derivative liability resulted in a $2.1 million debt discount, which was de-recognized during the three months ended September 30, 2020.

On August 14, 2020, the Company repaid all amounts outstanding under the 2020 Antara Term Facility and entered into the 2021 JPMorgan Credit Agreement. The Company recorded a liability for the commitment termination fee and prepayment premium for $1.2 million as of June 30, 2020. As of June 30, 2021, the Company has no outstanding obligations related to the 2020 Antara Term Facility.

Revolving Credit Facility and Term Loan with JPMorgan Chase

On November 9, 2017, in connection with an acquisition, the Company entered into a five year credit agreement among the Company, as the borrower, its subsidiaries, as guarantors, and JPMorgan, as the lender and administrative agent for the lender, pursuant to which JPMorgan (i) made a $25 million term loan (“2018 JPMorgan Term Loan”) to the Company and (ii) provided the Company with a line of credit (“2018 JPMorgan Revolving Credit Facility”) under which the Company may borrow revolving credit loans in an aggregate principal amount not to exceed $12.5 million at any time. All advances under the 2018 JPMorgan Revolving Credit Facility and all other obligations were required to be paid in full at maturity on November 9, 2022. The applicable interest rate on the loans for the year to date ended October 31, 2019 was LIBOR plus 4%. On September 30, 2019, the Company prepaid the remaining principal balance of the 2018 JPMorgan Term Loan, and on October 31, 2019, the Company repaid the outstanding balance on the 2018 JPMorgan Revolving Credit Facility.

Other Long-Term Borrowings

In the fourth quarter of fiscal year 2020, we received loan proceeds of approximately $3.1 million (the “PPP Loan”) pursuant to the Paycheck Protection Program under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) administered by the U.S. Small Business Administration (the “SBA”). We used the PPP Loan in accordance with the provisions of the CARES Act. The loan bore a fixed interest rate of 1% over a two-year term from the approval date of April 28, 2020. The application for these funds required the Company to, in good faith, certify that the economic uncertainty caused by COVID-19 made the loan request necessary to support the ongoing operations of the Company. This certification further required the Company to take into account our current business activity and our ability to access other sources of liquidity sufficient to support ongoing operations in a manner that is not significantly detrimental to the business. The receipt of these funds and the forgiveness of the loan is dependent on the Company having initially qualified for the loan and qualifying for the forgiveness of such loan based on our future adherence to the forgiveness criteria.

On June 8, 2021, the Company received notification from the Small Business Administration that they approved the forgiveness of the full $3.1 million PPP loan and related accrued interest. The Company recorded the forgiveness as a gain on debt extinguishment in Other income in our consolidated financial statements. The SBA reserves the right to audit any PPP loan, regardless of size. These audits may occur after forgiveness has been granted. Under the CARES Act, all borrowers are required

to maintain their loan documentation for six years after the PPP loan was forgiven or repaid in full and to provide that documentation to the SBA upon request.

The expected maturities associated with the Company’s outstanding debt and other financing arrangements as of June 30, 2021, were as follows:


2022	790
2023	1,335
2024	12,394
2025	19
2026	12
Principal amounts payable	14,550
Unamortized issuance costs	(231)
Total outstanding debt	$	14,319

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS	Jun. 30, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS The carrying amounts of certain of the Company’s financial instruments, including cash equivalents, accounts receivable, accounts payable and accrued expenses, are carried at cost which approximates fair value due to their liquid or short-term nature. We have not identified material impacts from COVID-19 on the fair value of our financial assets and liabilities. The Company’s obligations under its long-term debt agreements are carried at amortized cost, which approximates their fair value as of June 30, 2021 . The fair value of the Company’s obligations under its long-term debt agreements with JPMorgan were considered Level 2 liabilities of the fair value hierarchy because these instruments have interest rates that reset frequently. The fair value of the Company's obligations under its long-term debt agreements with Antara as of June 30, 2020 was approximately $15.8 million and considered a Level 3 liability of the fair value hierarchy because this instrument used significant unobservable inputs consistent with those used in determining the embedded derivative liability values, as discussed below. As discussed in Note 10, the Company’s 2020 Antara Term Facility agreement contained a mandatory prepayment feature that was determined to be an embedded derivative, requiring bifurcation and fair value recognition. For the year ended June 30, 2020, the Company’s embedded derivative liability was measured at fair value using a probability-weighted discounted cash flow model including assumptions for (1) management's estimates of the probability and timing of future cash flows and related events; (2) the Company's risk-adjusted discount rate that includes a company-specific risk premium; and (3) the Company's cost of debt; and was classified as a Level 3 liability of the fair value hierarchy and included as a component of Accrued expenses on the consolidated balance sheets as of June 30, 2020. The Company paid the prepayment premium on the 2020 Antara Term Facility and derecognized the embedded derivative liability in August 2020.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

EQUITY	12 Months Ended
EQUITY	Jun. 30, 2021
Equity [Abstract]
EQUITY	EQUITY PRIVATE PLACEMENTS On February 24, 2021, the Company entered into separate subscription agreements in identical form and substance (the “Subscription Agreements”) with institutional accredited investors (the “Purchasers”) relating to a private placement (the “Private Placement”) with respect to the sale of an aggregate of 5,730,000 shares of the Company’s common stock. The Private Placement closed on March 4, 2021 and the Company received aggregate gross proceeds of approximately $55 million based on the offering price of $9.60 per share (the “Purchase Price”). The Company incurred $2.6 million in direct and incremental issuance costs relating to the Private Placement that were accounted as a reduction in the proceeds of the stock. The syndicate for the Private Placement included affiliates of Hudson Executive, a greater than 10% shareholder and a related party of the Company. Affiliates of Hudson Executive purchased 975,000 of the shares sold in the Private Placement for the same purchase price and on the same terms as the other purchasers. Pursuant to the Subscription Agreements, the Company agreed to file a registration statement with the U.S. Securities and Exchange Commission covering the resale of the Shares within 45 days following the date of the Subscription Agreements and to cause the registration statement to become effective within 60 days following the filing deadline. On April 5, 2021, the Company filed the registration statement with the U.S. Securities and Exchange Commission and, on April 14, 2021, the registration statement was declared effective. On June 29, 2020, the Board of Directors of the Company (the “Board”) unanimously approved the reimbursement of $4.5 million of the third party costs and expenses incurred by Hudson Executive in connection with its proxy solicitation (the “Reimbursement”). The Board determined to pay the Reimbursement in the form of shares of common stock, no par value, of the Company (“Common Stock”), with the value of the Common Stock calculated based on the average of the high and low trading price on the date of Board approval. On June 30, 2020, the Company issued 635,593 shares of Common Stock to funds managed by Hudson Executive in satisfaction of the Reimbursement. On October 9, 2019, the Company sold to Antara 3,800,000 shares of the Company’s common stock at a below market value price of $5.25 per share for gross cash proceeds of $20 million. Since the 2020 Antara Term Facility and equity issuance were negotiated in contemplation of each other and executed within a short period of time, the Company evaluated the debt and equity financing as a combined arrangement, and estimated the fair values of the debt and equity components to allocate the total proceeds on a relative fair value basis between the debt and equity components, resulting in a $17.9 million allocation to equity, less $1.1 million in issuance fees allocated to the equity component on a relative fair value basis. WARRANTS The Company had 23,978 warrants outstanding as of June 30, 2020, all of which were exercisable at $5.00 per share and with an expiration date of March 29, 2021. These warrants were exercised in March 2021 and 12,154 shares were issued pursuant to a cashless exercise option election made by the holder. As of June 30, 2021, the Company does not have any warrants outstanding. REGISTRATION RIGHTS AGREEMENT In connection with the Stock Purchase Agreement on October 9, 2019 with Antara, the Company also entered into a registration rights agreement (the “Registration Rights Agreement”) with Antara, pursuant to which the Company agreed, at its expense, to file a registration statement under the Securities Act of 1933 with the Securities and Exchange Commission (the “SEC”) covering the resale of the shares by Antara (the “Registration Statement”). Pursuant to an Amendment to Registration Rights Agreement dated as of January 31, 2020 (the “Amendment”), Antara and the Company agreed to terminate the obligation of the Company to register the shares in exchange for a payment of approximately $1.2 million by the Company to Antara. The Amendment provided that the payment would be in full satisfaction of any and all liquidated damages which may be due by the Company to Antara under the Registration Rights Agreement for the failure to timely file the Form S-1 registration statement and/or to obtain and maintain the effectiveness thereof.

- 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

INCOME TAXES

12 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

INCOME TAXES

On December 21, 2020, Congress approved the Consolidated Appropriations Act, 2021 (the “Appropriations Act”), which was signed into law by the President on December 27, 2020. The Appropriations Act funds the federal government to the end of the fiscal year and provides further COVID-19 economic relief. Some of the business provisions included in the Appropriations Act are additional Paycheck Protection Program ("PPP") loans, clarification of the deductibility of business expenses that were paid for with PPP funds, expansion of the employee retention credit, and temporary full deduction for business expenses for food and beverages provided by a restaurant. The Appropriations Act did not have a material impact on the Company’s income taxes. The Company will continue to monitor for additional legislation related to COVID-19 and its impact on our results of operations.

The Company has significant deferred tax assets, a substantial amount of which result from operating loss carryforwards. The Company routinely evaluates its ability to realize the benefits of these assets to determine whether it is more likely than not that such benefit will be realized. In accordance with the history of losses generated, the Company believes that for the year ended June 30, 2021 and 2020, it is more likely than not that its deferred tax assets will not be realized. Accordingly, the Company re-established a full valuation allowance on its net deferred tax assets.

The benefit (provision) for income taxes for the years ended June 30, 2021, 2020 and 2019 is comprised of the following:


	Year ended June 30,
($ in thousands)	2021		2020		2019
Current:
Federal	$	—	$	126	$	—
State	(328)		(57)		(269)
Total current	(328)		69		(269)
Deferred:
Federal	(12)		(156)		(11)
State	(30)		86		18
Total deferred	(42)		(70)		7
Total income tax (provision) benefit	$	(370)	$	(1)	$	(262)

A reconciliation of the benefit (provision) for income taxes for the years ended June 30, 2021, 2020 and 2019 to the indicated benefit (provision) based on income (loss) before benefit (provision) for income taxes at the federal statutory rate of 21.0% for the fiscal years ended June 30, 2021, June 30, 2020, and June 30, 2019 is as follows:


	Year ended June 30,
($ in thousands)	2021		2020		2019
Indicated benefit (provision) at federal statutory rate	$	1,648	$	8,514	$	6,671
Effects of permanent differences
Stock compensation	168		(226)		(140)
Other permanent differences	608		(106)		(76)
State income taxes, net of federal benefit	116		1,393		663
Changes related to prior years	—		489		—
Changes in valuation allowances	(2,927)		(10,139)		(7,319)
Other	17		74		(61)
	$	(370)	$	(1)	$	(262)

As of June 30, 2021 the Company had federal and state operating loss carryforwards of approximately $ 187 million and $ 221 million, respectively, to offset future taxable income. As of June 30, 2020 the Company had federal and state operating loss carryforwards of approximately $182 million and $221 million, respectively, to offset future taxable income. The timing and extent to which the Company can utilize operating loss carryforwards in any year may be limited because of provisions of the Internal Revenue Code regarding changes in ownership of corporations (i.e. IRS Code Section 382). Federal and state operating loss carryforwards start to expire in 2022 and certain state operating loss carryforwards are currently expiring.

The net deferred tax assets arose primarily from net operating loss carryforwards, as well as the use of different accounting methods for financial statement and income tax reporting purposes as follows:


	As of June 30,
($ in thousands)	2021		2020
Deferred tax assets:
Net operating loss carryforwards	$	46,851	$	45,670
Asset reserves	7,231		8,534
Deferred research and development	1,420		1,625
Stock-based compensation	2,620		668
Other	2,135		1,485
	60,257		57,982
Deferred tax liabilities:
Intangibles	(4,956)		(5,566)
Deferred tax assets, net	55,301		52,416
Valuation allowance	(55,480)		(52,553)
Deferred tax liabilities	$	(179)	$	(137)

As of June 30, 2021, the Company had total unrecognized income tax benefits of $0.4 million related to its nexus in certain state tax jurisdictions. If recognized in future years, $0.4 million of these currently unrecognized income tax benefits would impact the income tax provision and effective tax rate. The following table summarizes the activity related to unrecognized income tax benefits:


	Year ended June 30,
($ in thousands)	2021		2020		2019
Balance at the beginning of the year	$	207	$	210	$	—
Gross increases and decreases related to current period tax positions	—		—		180
Gross increases and decreases related to prior period tax positions	237		(3)		—
Accrued interest and penalties	—		—		30
Balance at the end of the year	$	444	$	207	$	210

The Company records accrued interest as well as penalties related to uncertain tax positions in selling, general and administrative expenses. As of June 30, 2021 the Company had recorded $30 thousand of accrued interest and penalties related to uncertain tax positions on the Consolidated Balance Sheet.

- 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
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+ Details

STOCK BASED COMPENSATION PLANS

12 Months Ended

Jun. 30, 2021

Share-based Payment Arrangement [Abstract]

STOCK BASED COMPENSATION PLANS

The Company has four active stock based compensation plans at June 30, 2021 as shown in the table below:

Date Approved

Name of Plan

Type of Plan

Authorized
Shares

June 2013

2013 Stock Incentive Plan

Stock

500,000

June 2014

2014 Stock Option Incentive Plan

Stock options

750,000

June 2015

2015 Equity Incentive Plan

Stock & stock options

1,250,000

April 2018

2018 Equity Incentive Plan

Stock & stock options

4,000,000

6,500,000

As of June 30, 2021, the Company had reserved shares of Common Stock for future issuance for the following:


Common Stock						Reserved Shares
Conversions of Preferred Stock and cumulative Preferred Stock dividends						105,474
Issuance upon exercise of stock options granted to current CEO						1,000,000
Issuance of shares to former CEO George Jensen upon the occurrence of a Cantaloupe transaction (1)						140,000
Issuance under 2014 Stock Option Incentive Plan						115,687
Issuance under 2015 Equity Incentive Plan						329,981
Issuance under 2018 Equity Incentive Plan						941,010
Total shares reserved for future issuance						2,632,152

__________________________________________

(1)Represents 140,000 shares issuable to our former CEO George Jensen upon the occurrence of a "USA Transaction" as such term is defined in the Jensen Stock Agreement dated September 27, 2011 by and between the Company and George R. Jensen.

STOCK OPTIONS

Stock options are granted at exercise prices equal to the fair market value of the Company's common stock at the date of grant. The options typically vest over a three year period and each option, if not exercised or terminated, expires on the seventh anniversary of the grant date.

The Company estimates the grant date fair value of the stock options with service conditions (i.e., a condition that requires an employee to render services to the Company for a stated period of time to vest) it grants using a Black-Scholes valuation model. The Company’s assumption for expected volatility is based on its historical volatility data related to market trading of its own common stock. The Company uses the simplified method to determine expected term, as the Company does not have adequate historical exercise and forfeiture behavior on which to base the expected life assumption. The dividend yield assumption is based on dividends expected to be paid over the expected life of the stock option. The risk-free interest rate assumption is determined by using the U.S. Treasury rates of the same period as the expected option term of each stock option.

The fair value of options granted during the years ended June 30, 2021, 2020, and 2019 was determined using the following assumptions:


	For the year ended June 30,
	2021	2020	2019

Expected volatility	74.3 - 77.3%	74.6 - 90.1%	58.4 - 70.9%
Expected life (years)	4.5	3.5 - 4.8	4.2 - 4.5
Expected dividends	0.0%	0.0%	0.0%
Risk-free interest rate	0.2 - 0.7%	0.3-1.6%	2.2-2.9%

The following tables provide information about outstanding options for the years ended June 30, 2021, 2020, and 2019:


	For the year ended June 30, 2021
	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding options, beginning of period	2,437,425	$	6.43	6.2	$	1,411
Granted	755,000	$	8.40
Exercised	(74,667)	$	3.81		$	(601)
Forfeited	(165,666)	$	6.90
Expired	—	$	—
Outstanding options, end of period	2,952,092	$	6.97	5.6	$	14,419
Exercisable options, end of period	1,040,131	$	6.52	5.1	$	5,558


	For the year ended June 30, 2020
	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding options, beginning of period	1,127,098	$	4.84	4.3	$	2,917
Granted	2,075,760	$	6.47
Exercised	(440,435)	$	2.48		$	(595)
Forfeited	(324,998)	$	6.55
Expired	—	$	—
Outstanding options, end of period	2,437,425	$	6.43	6.2	$	1,411
Exercisable options, end of period	560,871	$	6.01	4.8	$	559


	For the year ended June 30, 2019
	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding options, beginning of period	904,766	$	3.31	4.3	$	9,664
Granted	470,000	$	8.22
Exercised	(11,669)	$	5.40		$	—
Forfeited	(235,999)	$	5.70
Expired	—	$	—
Outstanding options, end of period	1,127,098	$	4.84	4.3	$	2,917
Exercisable options, end of period	638,988	$	2.86	3.4	$	2,923

The weighted average grant date fair value per share for the Company's stock options granted during the years ended June 30, 2021, 2020, and 2019 was $4.92, $3.84, and $4.15, respectively. The total fair value of stock options vested during the years ended June 30, 2021, 2020, and 2019 was $2.4 million, $1.7 million, and $0.2 million, respectively.

Performance based awards

The Company has awarded stock options to certain executives which vest each year over a three to four year period. These stock options are also subject to the achievement of performance goals to be established by the Company's Board for each fiscal

year.

On January 27, 2021, the Compensation Committee of the Board of Directors established the performance metrics as a price target for the trading price of the Company’s common stock in each applicable fiscal year. The price target is achieved if the average closing price of the common stock during any consecutive 30-trading-day period during the applicable fiscal year meets or exceeds: (i) $10.50 in the case of fiscal year 2021; (ii) $13.50 in the case of fiscal year 2022; (iii) $16.50 in the case of fiscal year 2023; and (iv) $19.50 in the case of fiscal year 2024. If at least 80% of the performance goals for an applicable fiscal year are achieved, the Compensation Committee may determine that the portion of the option eligible to vest based on such fiscal year’s performance will vest on a prorated basis. In so determining, the Compensation Committee will consider the Company’s performance relative to its market competitors and any other considerations deemed relevant by the Compensation Committee. The Compensation Committee’s guideline is generally that for every percentage point the achieved price falls below the price target, the percentage of the performance options eligible to vest in respect of the applicable fiscal year should be reduced by 2%, but the Compensation Committee may vary this formula in its sole discretion.

For these performance based awards that provide discretion to the Compensation Committee, a mutual understanding of the key

terms and conditions between the Company and the employees have not yet been met and a grant date has not been established. When the service period begins prior to the grant date, the Company begins recognizing compensation cost before there is a grant date. The Company estimates the award's fair value at each reporting period for these equity classified awards, until the grant date, utilizing a Monte Carlo simulation valuation model. The total expense recognized for the year ended June 30, 2021 for these awards was $2.1 million.

STOCK GRANTS

The Company makes annual grants of restricted shares of common stock to executive officers pursuant to long-term stock incentive plans (“LTIPs”) which vest annually, typically over three years.

The Company also grants restricted stock units (RSUs) to members of the board of directors as compensation for their service on the board as well as to employees as additional compensation. These stock awards typically vest over a one to three year period.

Two employees of Hudson Executive, a greater than 10% shareholder and a related party of the Company, entered into consulting agreements with the Company in August and September of 2020, respectively, under which the consultants are to provide financial and strategic analysis and advisory services to the Company's CEO through July 31, 2021. As consideration for the services, in March 2021 the consultants were granted a total of 80,000 restricted stock units. The total expense recognized as of June 30, 2021 for these agreements was $0.8 million. These restricted stock units had fully vested as of June 30, 2021.

A summary of the status of the Company’s nonvested common shares and RSUs as of June 30, 2021, 2020, and 2019, and changes during the years then ended is presented below:


	Shares	Weighted-Average Grant-Date Fair Value
Nonvested at June 30, 2018	165,836	$	4.85
Granted	40,062	13.90
Vested	(166,927)	6.01
Nonvested at June 30, 2019	38,971	$	9.19
Granted	651,715	7.28
Vested	(109,050)	7.52
Nonvested at June 30, 2020	213,014	$	6.50
Granted	187,848	10.33
Vested	(248,016)	7.71
Forfeited	(15,000)	6.28
Nonvested at June 30, 2021	137,846	$	9.57

STOCK BASED COMPENSATION EXPENSE

The Company applies the fair value method to recognize compensation expense for stock-based awards. Using this method, the estimated grant-date fair value of the award is recognized over the requisite service period using the accelerated attribution method. The Company accounts for forfeitures as they occur.

A summary of the Company's stock-based compensation expense recognized during the years ended June 30, 2021, 2020, and 2019 is as follows (in thousands):


	For the year ended June 30,
Award type	2021		2020		2019
Stock options	$	7,806	$	2,181	$	822
Stock grants	1,269		848		928
Total stock-based compensation expense	$	9,075	$	3,029	$	1,750

The Company recognized tax benefits of $2.4 million, $0.5 million, and $0.3 million related to stock compensation expense for the years ended June 30, 2021, 2020, and 2019.

A summary of the Company's unrecognized stock-based compensation expense as of June 30, 2021 is as follows:


	As of June 30, 2021
Award type	Unrecognized Expense (in thousands)		Weighted Average Recognition Period (in years)
Stock options	$	8,226	2.2
Stock grants	$	983	1.4

PREFERRED STOCK

12 Months Ended

Jun. 30, 2021

Preferred Stock [Abstract]

PREFERRED STOCK

The authorized Preferred Stock may be issued from time to time in one or more series, each series with such rights, preferences or restrictions as determined by the Board of Directors. As of June 30, 2021 each share of Series A Preferred Stock is convertible into 0.1988 of a share of Common Stock and each share of Series A Preferred Stock is entitled to 0.1988 of a vote on all matters on which the holders of Common Stock are entitled to vote. Series A Preferred Stock provides for an annual cumulative dividend of $1.50 per share, payable when, and if declared by the Board of Directors, to the shareholders of record in equal parts on February 1 and August 1 of each year. Any and all accumulated and unpaid cash dividends on the Series A Preferred Stock must be declared and paid prior to the declaration and payment of any dividends on the Common Stock.

The Series A Preferred Stock may be called for redemption at the option of the Board of Directors for a price of $11.00 per share plus payment of all accrued and unpaid dividends. No such redemption has occurred as of June 30, 2021. In the event of any liquidation as defined in the Company’s Articles of Incorporation, the holders of shares of Series A Preferred Stock issued shall be entitled to receive $10.00 for each outstanding share plus all cumulative unpaid dividends. If funds are insufficient for this distribution, the assets available will be distributed ratably among the preferred shareholders. The Series A Preferred Stock liquidation preference as of June 30, 2021 and 2020 is as follows:


($ in thousands)	June 30, 2021		June 30, 2020
For shares outstanding at $10.00 per share	$	4,451	$	4,451
Cumulative unpaid dividends	16,996		16,328
	$	21,447	$	20,779

The Company has determined that its convertible preferred stock is contingently redeemable due to the existence of deemed liquidation provisions contained in its certificate of incorporation, and therefore classifies its convertible preferred stock outside of permanent equity.

Cumulative unpaid dividends are convertible into common shares at $1,000 per common share at the option of the shareholder. During the years ended June 30, 2021, 2020 and 2019, no shares of Preferred Stock nor cumulative preferred dividends were converted into shares of common stock.

RETIREMENT PLAN	12 Months Ended
RETIREMENT PLAN	Jun. 30, 2021
Retirement Benefits [Abstract]
RETIREMENT PLAN	RETIREMENT PLANThe Company’s 401(k) Plan (the “Retirement Plan”) allows employees to make voluntary contributions, beginning on their first day of active employment, up to a maximum of 100% of their annual compensation, as defined in the Retirement Plan. The Company may, in its discretion, make a matching contribution, a profit sharing contribution, a qualified non-elective contribution, and/or a safe harbor 401(k) contribution to the Retirement Plan. The Company must make an annual election, at the beginning of the plan year, as to whether it will make a safe harbor contribution to the plan. In fiscal years 2021, 2020 and 2019, the Company elected and made safe harbor matching contributions of 100% of the participant’s first 3% and 50% of the next 2% of compensation deferred into the Retirement Plan. The Company’s safe harbor contributions for the years ended June 30, 2021, 2020 and 2019 approximated $0.2 million, $0.5 million and $0.4 million, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES LITIGATION We are a party to litigation and other proceedings that arise in the ordinary course of our business. These types of matters could result in fines, penalties, compensatory or treble damages or non-monetary sanctions or relief. In accordance with the accounting guidance for contingencies, we reserve for litigation claims and assessments asserted or threatened against us when a loss is probable and the amount of the loss can be reasonably estimated. We cannot predict the outcome of legal or other proceedings with certainty. Department of Justice Subpoena As previously reported, in the third quarter of fiscal year 2020, the Company responded to a subpoena received from the U.S. Department of Justice that sought records regarding Company activities that occurred during prior financial reporting periods, including restatements. The Company is cooperating fully with the agency’s queries. Eastern District of Pennsylvania Consolidated Shareholder Class Actions As previously reported, on September 11, 2018, Stéphane Gouet filed a putative class action complaint against the Company, Stephen P. Herbert, the then-current Chief Executive Officer, and Priyanka Singh, the then-current Chief Financial Officer, in the United States District Court for the District of New Jersey. The class was defined as purchasers of the Company’s securities from November 9, 2017 through September 11, 2018. The complaint alleged that the Company disclosed on September 11, 2018 that it was unable to timely file its Annual Report on Form 10-K for the fiscal year ended June 30, 2018 (the “2018 Form 10-K”), and that the Audit Committee of the Company’s Board of Directors was in the process of conducting an internal investigation of current and prior period matters relating to certain of the Company’s contractual arrangements, including the accounting treatment, financial reporting and internal controls related to such arrangements. The complaint alleged that the defendants disseminated false statements and failed to disclose material facts, and engaged in practices that operated as a fraud or deceit upon Gouet and others similarly situated in connection with their purchases of the Company’s securities during the proposed class period. The complaint alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “1934 Act”) and Rule 10b-5 promulgated thereunder. Two additional class action complaints, containing substantially the same factual allegations and legal claims, were filed against the Company, Herbert and Singh in the United States District Court for the District of New Jersey. On September 13, 2018, David Gray filed a putative class action complaint, and on October 3, 2018, Anthony E. Phillips filed a putative class action complaint. Subsequently, multiple shareholders moved to be appointed lead plaintiff, and on December 19, 2018, the Court consolidated the three actions, appointed a lead plaintiff (the “Lead Plaintiff”), and appointed lead counsel for the consolidated actions (the “Consolidated Action”). On February 28, 2019, the Court approved a Stipulation agreed to by the parties in the Consolidated Action for the filing of an amended complaint within fourteen days after the Company filed its 2018 Form 10-K. On January 22, 2019, the Company and Herbert filed a motion to transfer the Consolidated Action to the United States District Court for the Eastern District of Pennsylvania. On February 5, 2019, the Lead Plaintiff filed its opposition to the Motion to Transfer. On August 12, 2019, the University of Puerto Rico Retirement System (“UPR”) filed a putative class action complaint in the United States District Court for the District of New Jersey against the Company, Herbert, Singh, the Company’s Directors at the relevant time (Steven D. Barnhart, Joel Books, Robert L. Metzger, Albin F. Moschner, William J. Reilly and William J. Schoch) (the “Independent Directors”), and the investment banking firms who acted as underwriters for the May 2018 follow-on public offering of the Company (the “Public Offering”): William Blair & Company; LLC; Craig-Hallum Capital Group, LLC; Northland Securities, Inc.; and Barrington Research Associates, Inc. (the “Underwriters”). The class was defined as purchasers of the Company’s shares pursuant to the registration statement and prospectus issued in connection with the Public Offering. Plaintiff sought to recover damages caused by Defendants’ alleged violations of the Securities Act of 1933 (as amended, the “1933 Act”), and specifically Sections 11, 12 and 15 thereof. The complaint generally sought compensatory damages, rescissory damages and attorneys’ fees and costs. The UPR complaint was consolidated into the Consolidated Action and the UPR docket was closed. On September 30, 2019, the Court granted the motion to transfer and transferred the Consolidated Action to the United States District Court for the Eastern District of Pennsylvania, Docket No. 19-cv-04565. On November 20, 2019, Plaintiff filed an amended complaint that asserted claims under both the 1933 Act and the 1934 Act. Defendants filed motions to dismiss on February 3, 2020. Before briefing on the motions was completed, the parties participated in a private mediation on February 27, 2020, which ultimately resulted in a settlement. On May 29, 2020, the plaintiffs filed documents with the Court seeking preliminary approval of the settlement, with the defendants supporting approval of the settlement. On June 9, 2020, the Court granted preliminary approval of the settlement and issued a scheduling order for further action on the settlement. The settlement provides for a payment of $15.3 million that includes all administrative costs and plaintiffs’ attorneys’ fees and expenses. The Company’s insurance carriers paid approximately $12.7 million towards the settlement and the Company paid approximately $2.6 million towards the settlement. The settlement payments were deposited into an escrow account in July 2020. Only one putative class member submitted an objection to the settlement. On October 30, 2020, the Court held a hearing on the motion for final settlement approval and granted approval. Under the settlement, payment of plaintiffs’ counsel’s fees and expenses may be distributed within three business days of approval (subject to being returned if the settlement is reversed based on any appeal). Thirty days after the judgment, the remaining funds from the escrow account were released to the plaintiffs pursuant to the settlement. The deadline for filing an appeal has passed, so this case has been fully and finally resolved. Chester County, Pennsylvania Class Action As previously reported, a putative shareholder class action complaint was filed against the Company, its chief executive officer and chief financial officer at the relevant time, its directors at the relevant time, and the Underwriters, in the Court of Common Pleas, Chester County, Pennsylvania, Docket No. 2019-04821-MJ (the “State Securities Class Action”). The complaint alleged violations of the 1933 Act. As also previously reported, on September 20, 2019 the Court granted the defendants’ Petition for Stay and stayed the Chester County action until the Consolidated Action reaches a final disposition. On October 18, 2019, plaintiff filed an appeal to the Pennsylvania Superior Court from the Order granting defendants’ Petition for Stay, Docket No. 3100 EDA 2019. On December 6, 2019, the Pennsylvania Superior Court issued an Order stating that the Stay Order does not appear to be final or otherwise appealable and directed plaintiff to show cause as to the basis of the Pennsylvania Superior Court’s jurisdiction. The plaintiff filed a Response to the Order to Show Cause on December 16, 2019, and the defendants filed an Application to Quash Appeal on December 26, 2019. On February 20, 2020, the Pennsylvania Superior Court quashed the appeal. This action has remained stayed pending final disposition of the Consolidated Action. After the final resolution of the Consolidated Action plaintiffs' counsel agreed that the State Securities Class Action could not proceed in light of the releases provided by the final judgment in the federal action. On February 17, 2021, the parties filed a joint motion seeking approval from the Court to allow plaintiff to discontinue the State Securities Class Action with prejudice. On March 10, 2021, the Court held a hearing on the motion and granted the relief requested. On March 19, 2021, plaintiff made a filing to discontinue and end the action. This case has been fully and finally resolved. Other Shareholder Demand Letters By letter dated October 12, 2018, Peter D’Arcy, a purported shareholder of the Company, demanded that the Board of Directors investigate, remedy and commence proceedings against certain of the Company’s former officers and directors for breach of fiduciary duties. The letter alleged the officers and directors made false and misleading statements that failed to disclose that the Company’s accounting treatment, financial reporting and internal controls related to certain of the Company’s contractual agreements would result in an internal investigation and would delay the Company’s filing of its 2018 Form 10-K, and that the Company failed to maintain adequate internal controls. By letter dated October 18, 2018, Chiu Jen-Ting, a purported shareholder of the Company, demanded that the Board of Directors investigate, remedy and commence proceedings against certain of the Company’s former officers and directors for breach of fiduciary duties in connection with issues similar to those asserted by Mr. D’Arcy. By letter dated August 2, 2019, Stan Emanuel, a purported shareholder of the Company, demanded that the Board of Directors investigate, remedy and commence proceedings against certain of the Company’s former officers and directors for breach of fiduciary duties in connection with issues similar to those asserted by Mr. D’Arcy. In accordance with Pennsylvania law, the Board of Directors formed a special litigation committee (the “SLC”), currently consisting of Lisa P. Baird, Douglas L. Braunstein and Michael K. Passilla, in order to, among other things, investigate and evaluate the demand letters. The SLC and its counsel investigated the matters raised in these letters. During the second fiscal quarter of 2021, the Company reached a settlement in principle with these shareholders. The settlement consists of a payment of $500,000 in attorneys' fees to the shareholders’ counsel and adoption of various corporate governance reforms. On February 16, 2021, the Court of Common Pleas of Chester County, Pennsylvania entered an order preliminarily approving the settlement and providing for notice to shareholders of the Company. As contemplated by the settlement agreement and ordered by the Court in the preliminary approval order, the Company gave notice to shareholders of the action (as filed in our Current Report on Form 8-K filed with the SEC on February 17, 2021), their right and timing to assert objections, and of the release of claims that would be effectuated if the settlement was finally approved. The Company also delivered the attorneys’ fees under the agreement to plaintiffs’ counsel to be held in escrow pending final approval of the settlement. On March 25, 2021, the Court, having received no objections, granted the motion for final approval and entered final judgment. This case has been fully and finally resolved. Leases The Company has entered into various operating lease obligations. See Note 3 for additional information. Purchase Commitments As of June 30, 2021, the Company had firm commitments to purchase inventory of approximately $28 million over the next three years.

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTSIn August 2021, we completed the acquisition of certain assets and liabilities of Delicious Nutritious LLC, doing business as Yoke Payments (“Yoke”), a micro market payments company. The purchase price includes payments of $3 million in cash at the close of the transaction, $1 million in contingent cash payments at the end of the first year, and contingent equity payments based on the achievement of certain sales growth targets for software licenses over the next three years and continued employment of the former owners of Yoke during the three year period.

ACCOUNTING POLICIES (Policies)

12 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

CONSOLIDATION

CONSOLIDATIONThe accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.

USE OF ESTIMATES

CASH AND CASH EQUIVALENTS

ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS

supportable economic expectations into our allowance estimate for the asset’s entire expected life, which is generally less than one year.

FINANCE RECEIVABLES

Estimating an allowance requires us to apply judgment in relying on historical customer payment experience, regularly analyzing the financial condition of our customers, and developing macroeconomic forecasts to adequately cover expected credit losses on our receivables. By nature, such estimates are highly subjective, and it is possible that the amount of finance receivables that we are unable to collect may be different than the amounts initially estimated in the allowance.

INVENTORY, NET

Inventory consists of finished goods. The company's inventories are valued at the lower of cost or net realizable value, generally using a weighted-average cost method.

PROPERTY AND EQUIPMENT, NET

GOODWILL

INTANGIBLE AND LONG-LIVED ASSETS

FAIR VALUE OF FINANCIAL INSTRUMENTS

Level 1‑ Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

CONCENTRATION OF RISKS

REVENUE RECOGNITION

Accounts Receivable and Contract Liabilities

Contract Costs

evaluated for impairment by comparing, on a pooled basis, the expected future net cash flows from underlying customer relationships to the carrying amount of the capitalized contract costs.

WARRANTIES

WarrantiesThe Company offers standard warranties that provide the customer with assurance that its equipment will function in accordance with contract specifications. The Company's standard warranties are not sold separately, but are included with each customer purchase. Warranties are not considered separate performance obligations and, therefore, are estimated and recorded at the time of sale.

REVENUE RECOGNITION UNDER ASC 605

Revenue from the sale of QuickStart lease of equipment is recognized on the terms of free-on-board shipping point. Transaction processing revenue is recognized upon the usage of the Company’s cashless payment and control network. License fees for access to the Company’s devices and network services are recognized on a monthly basis. In all cases, revenue is only recognized when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed and determinable, and collection of the resulting receivable is reasonably assured. The Company estimates an allowance for license and transaction fee refunds on a monthly basis.Hardware is available to customers under the QuickStart program pursuant to which the customer would enter into a five-year non-cancelable lease with either the Company or a third-party leasing company for the devices. The Company utilizes its best estimate of selling price when calculating the revenue to be recorded under these leases. The QuickStart contracts qualify for sales type lease accounting. At lease inception, the Company recognizes revenue and creates a finance receivable in an amount that represents the present value of minimum lease payments. Accordingly, a portion of the lease payments are recognized as interest income. At the end of the lease period, the customer would have the option to purchase the device at its residual value. Any customer payments received in advance and prior to the Company satisfying any performance obligations are recorded as deferred revenue and amortized as revenue is recognized.

EQUIPMENT RENTAL

Equipment Rental

LESSEE ACCOUNTING

Lessee Accounting

Variable lease payments that are not based on an index or that result from changes to an index subsequent to the initial measurement of the corresponding lease liability are not included in the measurement of lease ROU assets or liabilities and instead are recognized in earnings in the period in which the obligation for those payments is incurred.The Company follows the guidance contained in ASC 360, Impairment or Disposal of Long-Lived Assets and reviews its ROU assets for events or changes in circumstances that may indicate that the carrying amount of such assets may not be recoverable. The carrying amount of an asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If the carrying amount of an ROU exceeds its net realizable value, the asset will be written down to its fair value. The Company recorded an right-of-use asset impairment charge relating to optimizing its corporate real estate footprint of $1.6 million for the year ended June 30, 2021.

LESSOR ACCOUNTING

Lessor Accounting

SHIPPING AND HANDLING

Shipping and handling fees billed to our customers in connection with sales are recorded as revenue. The costs incurred for shipping and handling of our product are recorded as cost of equipment.

RESEARCH AND DEVELOPMENT EXPENSES

SOFTWARE DEVELOPMENT COSTS

ACCOUNTING FOR EQUITY AWARDS

These costs are recorded in selling, general and administrative expenses.

LOSS CONTINGENCIES

SALES TAX RESERVE

INCOME TAXES

EARNINGS (LOSS) PER COMMON SHARE

RECENT ACCOUNTING PRONOUNCEMENTS

Accounting pronouncements adopted

Measurement of Credit Losses on Financial Instruments

The following table represents a roll forward of the allowance for doubtful accounts for accounts and finance receivables for the

year ending June 30, 2021:


	Year ended June 30, 2021
($ in thousands)	Accounts receivable	Finance receivable

Beginning balance of allowance at June 30, 2020, prior to adopting ASC 326	7,676	150
Impact of adoption of ASC 326	(757)	409
Provision for expected losses	686	550
Write-offs	(991)	—
Balance at June 30, 2021	6,614	1,109

Accounting pronouncements to be adopted

ASU 2019-12 - Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting

ASU 2020-10, Codification Improvements

INTANGIBLE AND LONG-LIVED ASSETS

ACCOUNTING POLICIES (Tables)

12 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Schedule Of Rollforward Of Allowance For Doubtful Accounts

The following table represents a roll forward of the allowance for doubtful accounts for accounts and finance receivables for the

year ending June 30, 2021:


	Year ended June 30, 2021
($ in thousands)	Accounts receivable	Finance receivable

Beginning balance of allowance at June 30, 2020, prior to adopting ASC 326	7,676	150
Impact of adoption of ASC 326	(757)	409
Provision for expected losses	686	550
Write-offs	(991)	—
Balance at June 30, 2021	6,614	1,109

LEASES (Tables)

12 Months Ended

Jun. 30, 2021

Leases [Abstract]

Assets and Liabilities

At June 30, 2021, the Company has the following balances recorded in the balance sheet related to its lease arrangements:


($ in thousands)	Balance Sheet Classification	As of June 30, 2021		As of June 30, 2020

Assets
Operating leases	Operating lease right-of-use assets	$	3,049	$	5,603

Liabilities
Current	Accrued expenses	1,166		1,075
Long-term	Operating lease liabilities, non-current	3,645		4,749
Total lease liabilities		$	4,811	$	5,824

Lease Costs

Components of lease cost are as follows:


($ in thousands)	Year ended June 30, 2021		Year ended June 30, 2020

Operating lease costs*	$	2,079	$	2,525

* Includes short-term lease and variable lease costs, which are not material.

Supplemental cash flow information and non-cash activity related to our leases are as follows:


($ in thousands)	Year ended June 30, 2021		Year ended June 30, 2020

Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	1,635	$	1,784

Non-cash activity
Right-of-use assets obtained in exchange for lease obligations
Operating lease liabilities	$	—	$	3,384

Weighted-average remaining lease term and discount rate for our leases are as follows:


	Year ended June 30, 2021		Year ended June 30, 2020
Weighted-average remaining lease term (years)
Operating leases	4.3		5.2

Weighted-average discount rate
Operating leases	6.9	%	6.8	%

Maturities of Lease Liabilities, Operating Leases

Maturities of lease liabilities by fiscal year for our leases are as follows:


($ in thousands)	Operating Leases
2022	$	1,460
2023	1,492
2024	1,029
2025	707
2026	628
Thereafter	265
Total lease payments	$	5,581
Less: Imputed interest	(770)
Present value of lease liabilities	$	4,811

Property and Equipment Used for Operating Lease Rental Program

Property and equipment used for the operating lease rental program consisted of the following:


($ in thousands)	June 30, 2021		June 30, 2020
Cost	$	26,753	32,445
Accumulated depreciation	(24,487)		(27,745)
Net	$	2,266	$	4,700

REVENUE (Tables)

12 Months Ended

Jun. 30, 2021

Revenue from Contract with Customer [Abstract]

Performance Obligations

The following table reflects the estimated fees to be recognized in the future related to performance obligations that are unsatisfied at the end of the period:


($ in thousands)	As of June 30, 2021

2022	$	13,275
2023	11,492
2024	7,375
2025	3,698
2026	1,809
Thereafter	17
Total	$	37,666

Contract Liability

The Company's contract liability (i.e., deferred revenue) balances are as follows:


	Year ended June 30,
($ in thousands)	2021		2020

Deferred revenue, beginning of the period	$	1,698	$	1,681
Deferred revenue, end of the period	1,763		1,698
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period	595		777

LOSS PER SHARE CALCULATION (Tables)

12 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Schedule of basic and diluted loss per share

The calculation of basic and diluted loss per share is presented below:


	Year ended June 30,
($ in thousands, except per share data)	2021		2020		2019

Numerator for basic and diluted loss per share
Net loss	$	(8,705)	$	(40,595)	$	(29,882)
Preferred dividends	(668)		(668)		(668)
Net loss available to common shareholders	$	(9,373)	$	(41,263)	$	(30,550)

Denominator for basic loss per share - Weighted average shares outstanding	67,002,438		62,980,193		60,061,243
Effect of dilutive potential common shares	—		—		—
Denominator for diluted loss per share - Adjusted weighted average shares outstanding	67,002,438		62,980,193		60,061,243

Basic and diluted loss per share	$	(0.14)	$	(0.66)	$	(0.51)

FINANCE RECEIVABLES (Tables)

12 Months Ended

Jun. 30, 2021

Receivables [Abstract]

Schedule of finance receivables

As of June 30, 2021 and 2020, finance receivables consist of the following:


	As of June 30,
($ in thousands)	2021		2020

Current finance receivables, net	$	7,967	$	7,468
Finance receivables due after one year, net	11,632		11,213
Total finance receivables, net of allowance of $1,109 and $150, respectively	$	19,599	$	18,681

Schedule of credit quality indicators

At June 30, 2021, the gross lease receivable by current payment performance on a contractual basis and year of origination consisted of the following:


	Leases by Origination
($ in thousands)		Up to 1 Year Ago		Between 1 and 2 Years Ago		Between 2 and 3 Years Ago		Between 3 and 4 Years Ago		Between 4 and 5 Years Ago		More than 5 Years Ago		Total

Current		$	6,504	$	4,109	$	3,751	$	2,522	$	1,249	$	982	$	19,117
30 days and under		20		67		90		93		11		1		282
31 - 60 days		4		9		22		2		1		—		38
61 - 90 days		10		42		66		54		10		—		182
Greater than 90 days		46		69		490		419		54		11		1,089
Total finance receivables		$	6,584	$	4,296	$	4,419	$	3,090	$	1,325	$	994	$	20,708

At June 30, 2020, the gross lease receivable by current payment performance on a contractual basis and year of origination

consisted of the following:


	Leases by Origination
($ in thousands)		Up to 1 Year Ago		Between 1 and 2 Years Ago		Between 2 and 3 Years Ago		Between 3 and 4 Years Ago		Between 4 and 5 Years Ago		More than 5 Years Ago		Total

Current		$	4,950	$	4,406	$	4,811	$	2,730	$	555	$	22	$	17,474
30 days and under		40		66		121		28		11		1		267
31 - 60 days		13		15		13		—		—		—		41
61 - 90 days		10		44		62		19		3		—		138
Greater than 90 days		22		263		537		67		14		8		911
Total finance receivables		$	5,035	$	4,794	$	5,544	$	2,844	$	583	$	31	$	18,831

At June 30, 2021, credit quality indicators by year of origination consisted of the following:


	Leases by Origination
($ in thousands)		Up to 1 Year Ago		Between 1 and 2 Years Ago		Between 2 and 3 Years Ago		Between 3 and 4 Years Ago		Between 4 and 5 Years Ago		More than 5 Years Ago		Total

High ratio customers		$	6,184	$	3,963	$	3,602	$	2,362	$	1,181	$	975	$	18,267
Low ratio customers		400		333		817		728		144		19		2,441
Total finance receivables		$	6,584	$	4,296	$	4,419	$	3,090	$	1,325	$	994	$	20,708

At June 30, 2020, credit quality indicators by year of origination consisted of the following:


	Leases by Origination
($ in thousands)		Up to 1 Year Ago		Between 1 and 2 Years Ago		Between 2 and 3 Years Ago		Between 3 and 4 Years Ago		Between 4 and 5 Years Ago		More than 5 Years Ago		Total

High ratio customers		$	4,801	$	4,209	$	4,402	$	2,521	$	356	$	14	$	16,303
Low ratio customers		234		585		1,142		323		227		17		2,528
Total finance receivables		$	5,035	$	4,794	$	5,544	$	2,844	$	583	$	31	$	18,831

Schedule of age analysis of finance receivables

The following table represents a rollforward of the allowance for finance receivables for the year ending June 30, 2021 and 2020:



($ in thousands)	Year ended June 30, 2021		Year ended June 30, 2020

Balance at June 30	$	150	$	606
Impact of ASC 326*	409		—
Provision for expected losses	550		142
Write-offs	—		(598)
Balance June 30	$	1,109	$	150

* The Company adopted ASC 326 on July 1, 2020.

Schedule of financing receivable

Cash to be collected on our performing finance receivables due for each of the fiscal years after June 30, 2021 are as follows:


($ in thousands)

2022	$	11,764
2023	5,669
2024	3,852
2025	2,314
2026	983
Thereafter	13
Total amounts to be collected	24,595
Less: interest	(3,887)
Less: allowance for nonperforming receivables	(1,109)
Total finance receivables	$	19,599

PROPERTY AND EQUIPMENT, NET (Tables)

12 Months Ended

Jun. 30, 2021

Property, Plant and Equipment [Abstract]

Schedule of property and equipment

Property and equipment consisted of the following:


		As of June 30, 2021
($ in thousands)	Useful Lives	Cost		Accumulated Depreciation		Net
Computer equipment and software	3-7 years	$	6,497	$	(6,212)	$	285
Internal-use software	3-5 years	4,523		(1,821)		2,702
Property and equipment used for rental program	5 years	26,753		(24,487)		2,266
Furniture and equipment	3-7 years	1,471		(1,222)		249
Leasehold improvements	(a)	192		(124)		68
		$	39,436	$	(33,866)	$	5,570


		As of June 30, 2020
($ in thousands)	Useful Lives	Cost		Accumulated Depreciation		Net
Computer equipment and software	3-7 years	$	6,371	$	(6,183)	$	188
Internal-use software	3-5 years	3,928		(1,344)		2,584
Property and equipment used for rental program	5 years	32,445		(27,745)		4,700
Furniture and equipment	3-7 years	1,554		(1,252)		302
Leasehold improvements	(a)	286		(188)		98
		$	44,584	$	(36,712)	$	7,872

(a) Lesser of lease term or estimated useful life

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of intangible asset balances

Goodwill and intangible asset balances consisted of the following:


	As of June 30, 2021						Amortization Period
($ in thousands)	Gross		Accumulated Amortization		Net

Intangible assets:
Brand and tradenames	$	1,640	$	(840)	$	800	3 - 7 years
Developed technology	10,939		(6,890)		4,049		5 - 6 years
Customer relationships	19,049		(3,906)		15,143		10 - 18 years
Total intangible assets	$	31,628	$	(11,636)	$	19,992

Goodwill	$	63,945	$	—	$	63,945	Indefinite


	As of June 30, 2020						Amortization Period
($ in thousands)	Gross		Accumulated Amortization		Net

Intangible assets:
Brand and tradenames	$	1,695	$	(699)	$	996	3 - 7 years
Developed technology	10,939		(5,110)		5,829		5 - 6 years
Customer relationships	19,049		(2,841)		16,208		10 - 18 years
Total intangible assets	$	31,683	$	(8,650)	$	23,033

Goodwill	$	63,945	$	—	$	63,945	Indefinite

Schedule of estimated annual amortization expense

Estimated annual amortization expense for intangible assets is as follows (in thousands):


2022	$	3,018
2023	3,018
2024	1,917
2025	1,155
2026	1,058
Thereafter	9,826
	$	19,992

ACCRUED EXPENSES (Tables)

12 Months Ended

Jun. 30, 2021

Accrued Liabilities [Abstract]

Schedule of accrued expenses

Accrued expenses consisted of the following as of June 30, 2021 and 2020:


	As of June 30,
($ in thousands)	2021		2020

Sales tax reserve	$	17,099	$	20,036
Accrued compensation and related sales commissions	4,233		2,757
Operating lease liabilities, current	1,166		1,075
Accrued professional fees	1,739		924
Income taxes payable	368		123
Accrued other taxes and filing fees	1,082		220
Accrued other, including settlement of shareholder class action lawsuit	773		5,130
Total accrued expenses	$	26,460	$	30,265

DEBT AND OTHER FINANCING ARRANGEMENTS (Tables)

12 Months Ended

Jun. 30, 2021

Line of Credit Facility [Abstract]

Schedule of Debt and Other Financing Arrangements

The Company's debt and other financing arrangements as of June 30, 2021 and 2020 consisted of the following:


	As of June 30,
($ in thousands)	2021		2020

2020 Antara Term Facility	$	—	$	15,000
2021 JPMorgan Credit Facility	14,437		—
PPP and other loans	113		3,358
Less: unamortized issuance costs and debt discount	(231)		(2,595)
Total	14,319		15,763
Less: debt and other financing arrangements, current	(675)		(3,328)
Debt and other financing arrangements, noncurrent	$	13,644	$	12,435

Details of interest expense presented on the Consolidated Statements of Operations are as follows:


	Year ended June 30,
($ in thousands)	2021		2020		2019
2020 Antara Term Facility	$	2,779	$	1,218	$	—
2021 JPMorgan Credit Facility	1,006		—		—
2018 JPMorgan Revolving Credit Facility	—		303		658
2018 JPMorgan Term Loan	—		160		1,232
Other interest expense	228		916		1,102
Total interest expense	$	4,013	$	2,597	$	2,992

Schedule of Maturities of Debt and Other Financing Arrangements

The expected maturities associated with the Company’s outstanding debt and other financing arrangements as of June 30, 2021, were as follows:


2022	790
2023	1,335
2024	12,394
2025	19
2026	12
Principal amounts payable	14,550
Unamortized issuance costs	(231)
Total outstanding debt	$	14,319

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Topic 835
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
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-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644

+ Details

INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Schedule of benefit (provision) for income taxes

The benefit (provision) for income taxes for the years ended June 30, 2021, 2020 and 2019 is comprised of the following:


	Year ended June 30,
($ in thousands)	2021		2020		2019
Current:
Federal	$	—	$	126	$	—
State	(328)		(57)		(269)
Total current	(328)		69		(269)
Deferred:
Federal	(12)		(156)		(11)
State	(30)		86		18
Total deferred	(42)		(70)		7
Total income tax (provision) benefit	$	(370)	$	(1)	$	(262)

Schedule of income tax benefit in the provision for income taxes


	Year ended June 30,
($ in thousands)	2021		2020		2019
Indicated benefit (provision) at federal statutory rate	$	1,648	$	8,514	$	6,671
Effects of permanent differences
Stock compensation	168		(226)		(140)
Other permanent differences	608		(106)		(76)
State income taxes, net of federal benefit	116		1,393		663
Changes related to prior years	—		489		—
Changes in valuation allowances	(2,927)		(10,139)		(7,319)
Other	17		74		(61)
	$	(370)	$	(1)	$	(262)

Schedule of deferred tax assets and liabilities


	As of June 30,
($ in thousands)	2021		2020
Deferred tax assets:
Net operating loss carryforwards	$	46,851	$	45,670
Asset reserves	7,231		8,534
Deferred research and development	1,420		1,625
Stock-based compensation	2,620		668
Other	2,135		1,485
	60,257		57,982
Deferred tax liabilities:
Intangibles	(4,956)		(5,566)
Deferred tax assets, net	55,301		52,416
Valuation allowance	(55,480)		(52,553)
Deferred tax liabilities	$	(179)	$	(137)

Summary of activity related to unrecognized income tax benefits

The following table summarizes the activity related to unrecognized income tax benefits:


	Year ended June 30,
($ in thousands)	2021		2020		2019
Balance at the beginning of the year	$	207	$	210	$	—
Gross increases and decreases related to current period tax positions	—		—		180
Gross increases and decreases related to prior period tax positions	237		(3)		—
Accrued interest and penalties	—		—		30
Balance at the end of the year	$	444	$	207	$	210

STOCK BASED COMPENSATION PLANS (Tables)

12 Months Ended

Jun. 30, 2021

Share-based Payment Arrangement [Abstract]

Schedule of stock based compensation plans

The Company has four active stock based compensation plans at June 30, 2021 as shown in the table below:

Date Approved

Name of Plan

Type of Plan

Authorized
Shares

June 2013

2013 Stock Incentive Plan

Stock

500,000

June 2014

2014 Stock Option Incentive Plan

Stock options

750,000

June 2015

2015 Equity Incentive Plan

Stock & stock options

1,250,000

April 2018

2018 Equity Incentive Plan

Stock & stock options

4,000,000

6,500,000

Schedule of common stock for future issuance

As of June 30, 2021, the Company had reserved shares of Common Stock for future issuance for the following:


Common Stock						Reserved Shares
Conversions of Preferred Stock and cumulative Preferred Stock dividends						105,474
Issuance upon exercise of stock options granted to current CEO						1,000,000
Issuance of shares to former CEO George Jensen upon the occurrence of a Cantaloupe transaction (1)						140,000
Issuance under 2014 Stock Option Incentive Plan						115,687
Issuance under 2015 Equity Incentive Plan						329,981
Issuance under 2018 Equity Incentive Plan						941,010
Total shares reserved for future issuance						2,632,152

__________________________________________

Schedule of stock option granted weighted average assumptions

The fair value of options granted during the years ended June 30, 2021, 2020, and 2019 was determined using the following assumptions:


	For the year ended June 30,
	2021	2020	2019

Expected volatility	74.3 - 77.3%	74.6 - 90.1%	58.4 - 70.9%
Expected life (years)	4.5	3.5 - 4.8	4.2 - 4.5
Expected dividends	0.0%	0.0%	0.0%
Risk-free interest rate	0.2 - 0.7%	0.3-1.6%	2.2-2.9%

Schedule of information related to outstanding options

The following tables provide information about outstanding options for the years ended June 30, 2021, 2020, and 2019:


	For the year ended June 30, 2021
	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding options, beginning of period	2,437,425	$	6.43	6.2	$	1,411
Granted	755,000	$	8.40
Exercised	(74,667)	$	3.81		$	(601)
Forfeited	(165,666)	$	6.90
Expired	—	$	—
Outstanding options, end of period	2,952,092	$	6.97	5.6	$	14,419
Exercisable options, end of period	1,040,131	$	6.52	5.1	$	5,558


	For the year ended June 30, 2020
	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding options, beginning of period	1,127,098	$	4.84	4.3	$	2,917
Granted	2,075,760	$	6.47
Exercised	(440,435)	$	2.48		$	(595)
Forfeited	(324,998)	$	6.55
Expired	—	$	—
Outstanding options, end of period	2,437,425	$	6.43	6.2	$	1,411
Exercisable options, end of period	560,871	$	6.01	4.8	$	559


	For the year ended June 30, 2019
	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding options, beginning of period	904,766	$	3.31	4.3	$	9,664
Granted	470,000	$	8.22
Exercised	(11,669)	$	5.40		$	—
Forfeited	(235,999)	$	5.70
Expired	—	$	—
Outstanding options, end of period	1,127,098	$	4.84	4.3	$	2,917
Exercisable options, end of period	638,988	$	2.86	3.4	$	2,923

Schedule of nonvested share activity

A summary of the status of the Company’s nonvested common shares and RSUs as of June 30, 2021, 2020, and 2019, and changes during the years then ended is presented below:


	Shares	Weighted-Average Grant-Date Fair Value
Nonvested at June 30, 2018	165,836	$	4.85
Granted	40,062	13.90
Vested	(166,927)	6.01
Nonvested at June 30, 2019	38,971	$	9.19
Granted	651,715	7.28
Vested	(109,050)	7.52
Nonvested at June 30, 2020	213,014	$	6.50
Granted	187,848	10.33
Vested	(248,016)	7.71
Forfeited	(15,000)	6.28
Nonvested at June 30, 2021	137,846	$	9.57

Schedule of stock-based compensation expense

A summary of the Company's stock-based compensation expense recognized during the years ended June 30, 2021, 2020, and 2019 is as follows (in thousands):


	For the year ended June 30,
Award type	2021		2020		2019
Stock options	$	7,806	$	2,181	$	822
Stock grants	1,269		848		928
Total stock-based compensation expense	$	9,075	$	3,029	$	1,750

A summary of the Company's unrecognized stock-based compensation expense as of June 30, 2021 is as follows:


	As of June 30, 2021
Award type	Unrecognized Expense (in thousands)		Weighted Average Recognition Period (in years)
Stock options	$	8,226	2.2
Stock grants	$	983	1.4

PREFERRED STOCK (Tables)

12 Months Ended

Jun. 30, 2021

Preferred Stock [Abstract]

Schedule of preferred stock

The Series A Preferred Stock liquidation preference as of June 30, 2021 and 2020 is as follows:


($ in thousands)	June 30, 2021		June 30, 2020
For shares outstanding at $10.00 per share	$	4,451	$	4,451
Cumulative unpaid dividends	16,996		16,328
	$	21,447	$	20,779

BUSINESS (Details) - segment		12 Months Ended
BUSINESS (Details) - segment	Mar. 15, 2020	Jun. 30, 2021	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments		1
Average daily processing volume decrease	40.00%
Senior leadership team salary decrease, percentage			20.00%
Temporary furlough, percentage of employee base			10.00%

ACCOUNTING POLICIES - Accounts Receivable and Allowance For Doubtful Accounts (Details)	12 Months Ended
	Jun. 30, 2021
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment terms	30 days
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment terms	60 days

ACCOUNTING POLICIES - Finance Receivables (Details)	12 Months Ended
ACCOUNTING POLICIES - Finance Receivables (Details)	Jun. 30, 2021
Accounting Policies [Abstract]
Term of notes receivable or quick start leases	60 months

ACCOUNTING POLICIES - Inventory, Net (Details) - USD ($) $ in Millions	Jun. 30, 2021	Jun. 30, 2020
Accounting Policies [Abstract]
Inventory reserve	$ 3.5	$ 2.8

ACCOUNTING POLICIES - Goodwill (Details) - USD ($)	12 Months Ended
ACCOUNTING POLICIES - Goodwill (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Accounting Policies [Abstract]
Goodwill, impairment loss	$ 0	$ 0	$ 0

ACCOUNTING POLICIES - Intangible and Long-lived Assets (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 0	$ 0
Operating lease right-of-use asset impairment	$ 1,578,000	$ 0	$ 0
Minimum
Finite-Lived Intangible Assets [Line Items]
Amortization period	3 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Amortization period	18 years

ACCOUNTING POLICIES - Concentration of Risks And Revenue Recognition (Details)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Customer One \| Revenue from Rights Concentration Risk \| Revenue Benchmark
Concentration Risk [Line Items]
Concentration percentage	16.00%	16.00%	17.00%

ACCOUNTING POLICIES - Revenue Recognition and Equipment Rental (Details)	12 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Line Items]
Term of non-cancelable lease with agreement	5 years
Lessor, operating lease term	36 months
Minimum
Property, Plant and Equipment [Line Items]
Payment terms	30 days
Cancellation period	30 days
Maximum
Property, Plant and Equipment [Line Items]
Payment terms	60 days
Cancellation period	60 days

ACCOUNTING POLICIES - Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Lessor, Lease, Description [Line Items]
Operating lease right-of-use asset impairment	$ 1,578	$ 0	$ 0
Lessor, sales-type lease term	60 months
Lessor, operating lease term	36 months
Minimum
Lessor, Lease, Description [Line Items]
Lease term	1 year
Cancellation period	30 days
Maximum
Lessor, Lease, Description [Line Items]
Lease term	8 years
Cancellation period	60 days

ACCOUNTING POLICIES - Research and Development (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Accounting Policies [Abstract]
Research and development expense	$ 3.9	$ 3.8	$ 4.6

ACCOUNTING POLICIES - Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shareholders' equity	$ 151,393	$ 98,215	$ 114,423	$ 142,688
Accounts receivable
Beginning balance	7,676
Provision for expected losses	686
Write-offs	(991)
Ending balance	6,614	7,676
Finance receivable
Beginning balance	150	606
Provision for expected losses	550	142
Write-offs	0	(598)
Ending balance	1,109	150
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shareholders' equity	$ (311,382)	(303,025)	$ (262,430)	(232,748)
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Payment terms	30 days
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Payment terms	60 days
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounts receivable and financing receivable, allowance for credit loss, current		300
Shareholders' equity		348		200
Accounts receivable
Beginning balance	$ (757)
Ending balance		(757)
Finance receivable
Beginning balance	$ 409
Ending balance		409
Cumulative Effect, Period of Adoption, Adjustment \| Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shareholders' equity		$ 348		$ 200

LEASES - Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Assets
Operating leases	$ 3,049	$ 5,603
Liabilities
Operating lease liabilities, current	$ 1,166	$ 1,075
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	us-gaap:AccruedLiabilitiesCurrent	us-gaap:AccruedLiabilitiesCurrent
Operating lease liabilities, non-current	$ 3,645	$ 4,749
Total lease liabilities	$ 4,811	$ 5,824

LEASES - Components of Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Operating lease costs	$ 2,079	$ 2,525

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 1,635	$ 1,784
Operating lease liabilities	$ 0	$ 3,384

LEASES - Weighted-Average Remaining Lease Term and Weighted-Average Discount Rate (Details)	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Weighted-average remaining lease term, Operating leases	4 years 3 months 18 days	5 years 2 months 12 days
Weighted-average discount rate, Operating leases	6.90%	6.80%

LEASES - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Operating Leases
2022	$ 1,460
2023	1,492
2024	1,029
2025	707
2026	628
Thereafter	265
Total lease payments	5,581
Less: Imputed interest	(770)
Present value of lease liabilities	$ 4,811	$ 5,824

LEASES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jul. 01, 2019
Lessor, Lease, Description [Line Items]
Operating lease right-of-use assets	$ 3,049	$ 5,603
Operating lease, liability	$ 4,811	$ 5,824
Lessor, sales-type lease term	60 months
Lessor, operating lease term	36 months
Accounting Standards Update 2016-02
Lessor, Lease, Description [Line Items]
Operating lease right-of-use assets			$ 3,900
Operating lease, liability			$ 3,900
Minimum
Lessor, Lease, Description [Line Items]
Payment terms	30 days
Maximum
Lessor, Lease, Description [Line Items]
Payment terms	60 days

LEASES - Property and Equipment Costs (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Cost	$ 26,753	$ 32,445
Accumulated depreciation	(24,487)	(27,745)
Net	$ 2,266	$ 4,700

REVENUE - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Amortization of capitalized contract costs	$ 0.6	$ 0.5
Prepaid Expenses and Other Current Assets
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Capitalized costs to obtain contracts	0.4	0.4
Noncurrent Assets
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Capitalized costs to obtain contracts	$ 2.0	$ 1.8
Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contractual term	36 months
Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contractual term	60 months

REVENUE - Performance Obligations (Details) $ in Thousands	Jun. 30, 2021 USD ($)
Revenue from Contract with Customer [Abstract]
Performance obligation	$ 37,666
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue from Contract with Customer [Abstract]
Performance obligation	$ 13,275
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue from Contract with Customer [Abstract]
Performance obligation	$ 11,492
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue from Contract with Customer [Abstract]
Performance obligation	$ 7,375
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue from Contract with Customer [Abstract]
Performance obligation	$ 3,698
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01
Revenue from Contract with Customer [Abstract]
Performance obligation	$ 1,809
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01
Revenue from Contract with Customer [Abstract]
Performance obligation	$ 17
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, period

REVENUE - Contract Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Deferred revenue, beginning of the period	$ 1,698	$ 1,681
Deferred revenue, end of the period	1,763	1,698
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period	$ 595	$ 777

LOSS PER SHARE CALCULATION - Calculation of Earning Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Numerator for basic and diluted loss per share
Net loss	$ (8,705)	$ (40,595)	$ (29,882)
Preferred dividends	(668)	(668)	(668)
Net loss available to common shareholders	$ (9,373)	$ (41,263)	$ (30,550)
Denominator for basic loss per share - weighted average shares outstanding (in shares)	67,002,438	62,980,193	60,061,243
Effect of dilutive potential common shares (in shares)	0	0	0
Denominator for diluted loss per share (in shares)	67,002,438	62,980,193	60,061,243
Basic loss per share (in USD per share)	$ (0.14)	$ (0.66)	$ (0.51)
Diluted loss per share (in USD per share)	$ (0.14)	$ (0.66)	$ (0.51)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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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 deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

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+ Details

LOSS PER SHARE CALCULATION - Additional Information (Details) - shares	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Antidilutive shares excluded from the calculation of diluted loss per shares (in shares)	4,139,745	2,779,222	1,297,073

FINANCE RECEIVABLES - Narrative (Details)	12 Months Ended
FINANCE RECEIVABLES - Narrative (Details)	Jun. 30, 2021
Receivables [Abstract]
Finance receivables sales-type lease term	60 months

FINANCE RECEIVABLES - Information Regarding Finance Receivables (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Receivables [Abstract]
Current finance receivables, net	$ 7,967	$ 7,468
Finance receivables due after one year, net	11,632	11,213
Total finance receivables	19,599	18,681
Finance receivables, allowance	$ 1,109	$ 150	$ 606

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

FINANCE RECEIVABLES - Credit Risk Profile Based on Payment Activity (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	$ 6,584	$ 5,035
Between 1 and 2 Years Ago	4,296	4,794
Between 2 and 3 Years Ago	4,419	5,544
Between 3 and 4 Years Ago	3,090	2,844
Between 4 and 5 Years Ago	1,325	583
More than 5 Years Ago	994	31
Total finance receivables	20,708	18,831
High ratio customers
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	6,184	4,801
Between 1 and 2 Years Ago	3,963	4,209
Between 2 and 3 Years Ago	3,602	4,402
Between 3 and 4 Years Ago	2,362	2,521
Between 4 and 5 Years Ago	1,181	356
More than 5 Years Ago	975	14
Total finance receivables	18,267	16,303
Low ratio customers
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	400	234
Between 1 and 2 Years Ago	333	585
Between 2 and 3 Years Ago	817	1,142
Between 3 and 4 Years Ago	728	323
Between 4 and 5 Years Ago	144	227
More than 5 Years Ago	19	17
Total finance receivables	2,441	2,528
Current
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	6,504	4,950
Between 1 and 2 Years Ago	4,109	4,406
Between 2 and 3 Years Ago	3,751	4,811
Between 3 and 4 Years Ago	2,522	2,730
Between 4 and 5 Years Ago	1,249	555
More than 5 Years Ago	982	22
Total finance receivables	19,117	17,474
30 days and under
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	20	40
Between 1 and 2 Years Ago	67	66
Between 2 and 3 Years Ago	90	121
Between 3 and 4 Years Ago	93	28
Between 4 and 5 Years Ago	11	11
More than 5 Years Ago	1	1
Total finance receivables	282	267
31 - 60 days
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	4	13
Between 1 and 2 Years Ago	9	15
Between 2 and 3 Years Ago	22	13
Between 3 and 4 Years Ago	2	0
Between 4 and 5 Years Ago	1	0
More than 5 Years Ago	0	0
Total finance receivables	38	41
61 - 90 days
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	10	10
Between 1 and 2 Years Ago	42	44
Between 2 and 3 Years Ago	66	62
Between 3 and 4 Years Ago	54	19
Between 4 and 5 Years Ago	10	3
More than 5 Years Ago	0	0
Total finance receivables	182	138
Greater than 90 days
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	46	22
Between 1 and 2 Years Ago	69	263
Between 2 and 3 Years Ago	490	537
Between 3 and 4 Years Ago	419	67
Between 4 and 5 Years Ago	54	14
More than 5 Years Ago	11	8
Total finance receivables	$ 1,089	$ 911

FINANCE RECEIVABLES - Schedule of Credit Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	$ 150	$ 606
Provision for expected losses	550	142
Write-offs	0	(598)
Ending balance	1,109	150
Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	$ 409
Ending balance		$ 409

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

FINANCE RECEIVABLES - Summary of Finance receivables Fiscal Years (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Receivables [Abstract]
2022	$ 11,764
2023	5,669
2024	3,852
2025	2,314
2026	983
Thereafter	13
Total amounts to be collected	24,595
Less: interest	(3,887)
Less: allowance for nonperforming receivables	(1,109)	$ (150)	$ (606)
Total finance receivables	$ 19,599	$ 18,681

PROPERTY AND EQUIPMENT, NET - Summary of Property And Equipment at Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Property, Plant and Equipment [Line Items]
Useful life, rental program	5 years	5 years
Property and equipment, cost, rental program, Cost	$ 26,753	$ 32,445
Property, plant and equipment, gross, Cost	39,436	44,584
Property and equipment used for rental program, Accumulated Depreciation	(24,487)	(27,745)
Property, plant, and equipment, Accumulated Depreciation	(33,866)	(36,712)
Net	2,266	4,700
Property, plant, and equipment, Net	5,570	7,872
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, excluding lessor asset under operating lease, before accumulated depreciation, Cost	6,497	6,371
Property, plant, and equipment, excluding lessor asset under operating lease, Accumulated Depreciation	(6,212)	(6,183)
Property, plant, and equipment, excluding lessor asset under operating lease, Net	285	188
Internal-use software
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, excluding lessor asset under operating lease, before accumulated depreciation, Cost	4,523	3,928
Property, plant, and equipment, excluding lessor asset under operating lease, Accumulated Depreciation	(1,821)	(1,344)
Property, plant, and equipment, excluding lessor asset under operating lease, Net	2,702	2,584
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, excluding lessor asset under operating lease, before accumulated depreciation, Cost	1,471	1,554
Property, plant, and equipment, excluding lessor asset under operating lease, Accumulated Depreciation	(1,222)	(1,252)
Property, plant, and equipment, excluding lessor asset under operating lease, Net	249	302
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, excluding lessor asset under operating lease, before accumulated depreciation, Cost	192	286
Property, plant, and equipment, excluding lessor asset under operating lease, Accumulated Depreciation	(124)	(188)
Property, plant, and equipment, excluding lessor asset under operating lease, Net	$ 68	$ 98
Minimum \| Computer equipment and software
Property, Plant and Equipment [Line Items]
Useful life	3 years	3 years
Minimum \| Internal-use software
Property, Plant and Equipment [Line Items]
Useful life	3 years	3 years
Minimum \| Furniture and equipment
Property, Plant and Equipment [Line Items]
Useful life	3 years	3 years
Maximum \| Computer equipment and software
Property, Plant and Equipment [Line Items]
Useful life	7 years	7 years
Maximum \| Internal-use software
Property, Plant and Equipment [Line Items]
Useful life	5 years	5 years
Maximum \| Furniture and equipment
Property, Plant and Equipment [Line Items]
Useful life	7 years	7 years

PROPERTY AND EQUIPMENT, NET - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 1.0	$ 1.2	$ 1.3
Property and equipment used for rental program
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 1.4	$ 2.7	$ 3.1

GOODWILL AND INTANGIBLE ASSETS - Summary of Amortizable Intangible Asset (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, Gross	$ 31,628	$ 31,683
Amortizable intangible assets, Accumulated Amortization	(11,636)	(8,650)
Amortizable intangible assets, Net	19,992	23,033
Goodwill, Gross	63,945	63,945
Goodwill, Net	63,945	63,945
Brand and tradenames
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, Gross	1,640	1,695
Amortizable intangible assets, Accumulated Amortization	(840)	(699)
Amortizable intangible assets, Net	$ 800	$ 996
Brand and tradenames \| Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life	3 years	3 years
Brand and tradenames \| Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life	7 years	7 years
Developed technology
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, Gross	$ 10,939	$ 10,939
Amortizable intangible assets, Accumulated Amortization	(6,890)	(5,110)
Amortizable intangible assets, Net	$ 4,049	$ 5,829
Developed technology \| Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life	5 years	5 years
Developed technology \| Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life	6 years	6 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, Gross	$ 19,049	$ 19,049
Amortizable intangible assets, Accumulated Amortization	(3,906)	(2,841)
Amortizable intangible assets, Net	$ 15,143	$ 16,208
Customer relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life	10 years	10 years
Customer relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life	18 years	18 years

GOODWILL AND INTANGIBLE ASSETS - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Finite-Lived Intangible Assets [Line Items]
Amortization expense of acquired intangible assets	$ 3.1	$ 3.1	$ 3.2
Weighted average useful life	11 years 5 months 4 days
Brand and tradenames
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life	3 years 4 months 24 days
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life	2 years 3 months 18 days
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life	14 years 3 months 18 days

GOODWILL AND INTANGIBLE ASSETS - Summary of Estimated Annual Amortization Expense For Amortizable Intangible Asset (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 3,018
2023	3,018
2024	1,917
2025	1,155
2026	1,058
Thereafter	9,826
Amortizable intangible assets, Net	$ 19,992	$ 23,033

ACCRUED EXPENSES - Information Regarding Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Accrued Liabilities [Abstract]
Sales tax reserve	$ 17,099	$ 20,036
Accrued compensation and related sales commissions	4,233	2,757
Operating lease liabilities, current	1,166	1,075
Accrued professional fees	1,739	924
Income taxes payable	368	123
Accrued other taxes and filing fees	1,082	220
Accrued other, including settlement of shareholder class action lawsuit	773	5,130
Total accrued expenses	$ 26,460	$ 30,265

DEBT AND OTHER FINANCING ARRANGEMENTS - Debt and Other Financing Agreements (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Long term debt	$ 14,550
Less: unamortized issuance costs and debt discount	(231)	$ (2,595)
Long-term debt	14,319	15,763
Less: debt and other financing arrangements, current	(675)	(3,328)
Debt and other financing arrangements, noncurrent	13,644	12,435
Line of Credit \| 2021 JPMorgan Credit Facility
Debt Instrument [Line Items]
Long term debt	14,437	0
Line of Credit \| Term Facility \| 2020 Antara Term Facility
Debt Instrument [Line Items]
Long term debt	0	15,000
PPP and other loans
Debt Instrument [Line Items]
Long term debt	$ 113	$ 3,358

DEBT AND OTHER FINANCING ARRANGEMENTS - Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Debt Instrument [Line Items]
Interest expense	$ 4,013	$ 2,597	$ 2,992
Line of Credit \| 2020 Antara Term Facility \| Term Facility
Debt Instrument [Line Items]
Interest expense	2,779	1,218	0
Line of Credit \| 2021 JPMorgan Credit Facility
Debt Instrument [Line Items]
Interest expense	1,006	0	0
Line of Credit \| 2018 JPMorgan Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Interest expense	0	303	658
Line of Credit \| 2018 JPMorgan Term Loan \| Term Facility
Debt Instrument [Line Items]
Interest expense	0	160	1,232
PPP and other loans
Debt Instrument [Line Items]
Interest expense	$ 228	$ 916	$ 1,102

DEBT AND OTHER FINANCING ARRANGEMENTS - JP Morgan Chase Bank Credit Agreement (Details)		3 Months Ended	12 Months Ended
	Aug. 14, 2020 USD ($)	Jun. 30, 2021	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)
Debt Instrument [Line Items]
Interest expense			$ 4,013,000	$ 2,597,000	$ 2,992,000
Recognition of unamortized issuance costs and debt discount			2,735,000	$ 1,283,000	$ 301,000
2020 Antara Term Facility \| Term Facility \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 30,000,000
Interest expense			2,800,000
Recognition of unamortized issuance costs and debt discount			$ 2,600,000
2021 JPMorgan Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 5,000,000
Term	3 years
Interest rate, increase	2.00%
Commitment fee percentage	0.50%
2021 JPMorgan Credit Facility \| Line of Credit \| December 31, 2020 through September 30, 2022
Debt Instrument [Line Items]
Periodic payment, principal	$ 187,500
Annual principal payment	750,000
Total repayment, during period	1,500,000
2021 JPMorgan Credit Facility \| Line of Credit \| December 31, 2022 through June 30, 2023
Debt Instrument [Line Items]
Periodic payment, principal	375,000
Total repayment, during period	$ 1,125,000
2021 JPMorgan Credit Facility \| Line of Credit \| Period One
Debt Instrument [Line Items]
Adjusted quick ratio, minimum	2.75
2021 JPMorgan Credit Facility \| Line of Credit \| Period Two
Debt Instrument [Line Items]
Adjusted quick ratio, minimum	3.00
2021 JPMorgan Credit Facility \| Line of Credit \| Period Three
Debt Instrument [Line Items]
Adjusted quick ratio, maximum	3.00
2021 JPMorgan Credit Facility \| Line of Credit \| LIBOR
Debt Instrument [Line Items]
Variable rate	3.75%
2021 JPMorgan Revolving Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 5,000,000
2021 JPMorgan Secured Term Facility \| Term Facility \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 15,000,000
2021 JPMorgan, First Amendment \| Line of Credit
Debt Instrument [Line Items]
Variable rate			4.25%
Interest rate		0.75%	0.75%
Interest rate. during period		5.00%
Minimum \| 2021 JPMorgan Credit Facility \| Line of Credit \| LIBOR
Debt Instrument [Line Items]
Variable rate	2.75%
Minimum \| 2021 JPMorgan Credit Facility \| Line of Credit \| Base Rate
Debt Instrument [Line Items]
Variable rate	3.75%
Maximum \| 2021 JPMorgan Credit Facility \| Line of Credit \| LIBOR
Debt Instrument [Line Items]
Variable rate	3.75%
Maximum \| 2021 JPMorgan Credit Facility \| Line of Credit \| Base Rate
Debt Instrument [Line Items]
Variable rate	4.75%

DEBT AND OTHER FINANCING ARRANGEMENTS - Term Facility with Antara (Details) - USD ($)			3 Months Ended
	Oct. 31, 2019	Oct. 09, 2019	Jun. 30, 2020	Jun. 30, 2021
Debt Instrument [Line Items]
Long term debt				$ 14,550,000
Line of Credit \| 2020 Antara Term Facility \| Term Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 30,000,000
First draw	$ 15,000,000
Second draw	$ 15,000,000
Interest rate. during period	9.75%
Repayment of line of credit	$ 10,100,000
Prepayment premium percent	5.00%
Debt issuance costs		900,000
Commitment fee		100,000	$ 1,200,000
Amortization of debt issuance costs and discounts		$ 2,100,000

DEBT AND OTHER FINANCING ARRANGEMENTS - Revolving Credit Facility and Term Loan (Details) - Line of Credit	Nov. 09, 2017 USD ($)
Credit Agreement
Debt Instrument [Line Items]
Term	5 years
Credit Agreement \| LIBOR
Debt Instrument [Line Items]
Variable rate	4.00%
2018 JPMorgan Term Loan \| Term Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 25,000,000
2018 JPMorgan Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 12,500,000

DEBT AND OTHER FINANCING ARRANGEMENTS - Other Long-Term Borrowings (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 08, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Long-term Debt	$ 14,319		$ 15,763
CARES Act, Paycheck Protection Program
Debt Instrument [Line Items]
Long-term Debt		$ 3,100	$ 3,100

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

DEBT AND OTHER FINANCING ARRANGEMENTS - Maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Debt Disclosure [Abstract]
2022	$ 790
2023	1,335
2024	12,394
2025	19
2026	12
Long-term debt	14,550
Unamortized issuance costs	(231)	$ (2,595)
Total	$ 14,319	$ 15,763

- Definition

+ References + Details

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) $ in Millions	Jun. 30, 2020 USD ($)
Antara \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt obligations, fair value	$ 15.8

EQUITY - Private Placements (Details) - USD ($) $ / shares in Units, $ in Thousands						12 Months Ended
	Mar. 04, 2021	Feb. 24, 2021	Jun. 30, 2020	Jun. 29, 2020	Oct. 09, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Subsidiary, Sale of Stock [Line Items]
Issuance costs						$ 2,618	$ 0	$ 0
Issuance of common stock				$ 4,500			$ 4,500
Common stock, shares issued (in shares)			635,593
Allocation to equity					$ 17,900
Issuance fees					$ 1,100
Private Placement
Subsidiary, Sale of Stock [Line Items]
Shares sold (in shares)		5,730,000			3,800,000
Aggregate gross proceeds	$ 55,000
Sale of stock (in USD per share)	$ 9.60				$ 5.25
Issuance costs	$ 2,600
Gross proceeds from offering					$ 20,000
Private Placement \| Hudson Executive Capital LP
Subsidiary, Sale of Stock [Line Items]
Shares sold (in shares)	975,000

EQUITY - Warrants (Details) - $ / shares	1 Months Ended	12 Months Ended
EQUITY - Warrants (Details) - $ / shares	Mar. 31, 2021	Jun. 30, 2021	Jun. 30, 2020
Equity [Abstract]
Warrants outstanding (in shares)		0	23,978
Exercise price of warrants (in USD per share)			$ 5.00
Exercise of warrants (in shares)	12,154	12,154

EQUITY - Registration Rights Agreement (Details) $ in Millions	Jan. 31, 2020 USD ($)
Equity [Abstract]
Termination of Registration Rights Arrangement, payment	$ 1.2

INCOME TAXES - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Federal operating loss carryforwards	$ 187,000	$ 182,000
State operating loss carryforwards	221,000	221,000
Unrecognized tax benefits	444	$ 207	$ 210	$ 0
Accrued interest and penalties	$ 30

INCOME TAXES - Summary of Benefit (Provision) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Current:
Federal	$ 0	$ 126	$ 0
State	(328)	(57)	(269)
Total current	(328)	69	(269)
Deferred:
Federal	(12)	(156)	(11)
State	(30)	86	18
Total deferred	(42)	(70)	7
Total income tax (provision) benefit	$ (370)	$ (1)	$ (262)

- Definition

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

+ References + Details

INCOME TAXES - Summary of Reconciliation of the Benefit (Provision) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Indicated benefit (provision) at federal statutory rate	$ 1,648	$ 8,514	$ 6,671
Stock compensation	168	(226)	(140)
Other permanent differences	608	(106)	(76)
State income taxes, net of federal benefit	116	1,393	663
Changes related to prior years	0	489	0
Changes in valuation allowances	(2,927)	(10,139)	(7,319)
Other	17	74	(61)
Total income tax (provision) benefit	$ (370)	$ (1)	$ (262)

- Definition

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

+ References + Details

INCOME TAXES - Summary of Net Deferred Tax Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Deferred tax assets:
Net operating loss carryforwards	$ 46,851	$ 45,670
Asset reserves	7,231	8,534
Deferred research and development	1,420	1,625
Stock-based compensation	2,620	668
Other	2,135	1,485
Deferred tax assets, gross	60,257	57,982
Deferred tax liabilities:
Intangibles	(4,956)	(5,566)
Deferred tax assets, net	55,301	52,416
Valuation allowance	(55,480)	(52,553)
Deferred tax liabilities	$ (179)	$ (137)

INCOME TAXES INCOME TAXES - Unrecognized Tax Benefit Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Unrecognized Income Tax Benefits [Roll Forward]
Balance at the beginning of the year	$ 207	$ 210	$ 0
Gross increases and decreases related to current period tax positions	0	0	180
Gross increases related to prior period tax positions	237
Gross decreases related to prior period tax positions		(3)	0
Accrued interest and penalties	0	0	30
Balance at the end of the year	$ 444	$ 207	$ 210

STOCK BASED COMPENSATION PLANS - Summary of Stock Based Compensation Plans (Details)	12 Months Ended
	Jun. 30, 2021 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	6,500,000
Conversions of Preferred Stock and cumulative Preferred Stock dividends (in shares)	105,474
Issuance under Stock/Equity Incentive Plan (in shares)	2,632,152
2014 Stock Option Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance under Stock/Equity Incentive Plan (in shares)	115,687
2015 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance under Stock/Equity Incentive Plan (in shares)	329,981
2018 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance under Stock/Equity Incentive Plan (in shares)	941,010
June 2013 \| 2013 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	500,000
June 2014 \| 2014 Stock Option Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	750,000
June 2015 \| 2015 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	1,250,000
April 2018 \| 2018 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	4,000,000
Current CEO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of shares (in shares)	1,000,000
Former CEO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of shares (in shares)	140,000

STOCK BASED COMPENSATION PLANS - Additional Information (Details) $ / shares in Units, $ in Thousands			1 Months Ended	12 Months Ended
	Jan. 27, 2021 $ / shares	Jun. 30, 2020 shares	Mar. 31, 2021 shares	Jun. 30, 2021 USD ($) plan $ / shares	Jun. 30, 2020 USD ($) $ / shares	Jun. 30, 2019 USD ($) $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of active stock based compensation plans \| plan				4
Weighted average grant date fair value (in USD per share) \| $ / shares				$ 4.92	$ 3.84	$ 4.15
Fair value of stock options vested \| $				$ 2,400	$ 1,700	$ 200
Stock-based compensation \| $				9,075	3,029	1,750
Issuance of common stock to Hudson Executive Capital LP (in shares) \| shares		635,593
Stock-based compensation expense, tax benefits recognized \| $				$ 2,400	$ 500	$ 300
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation vesting period				3 years
Share-based compensation termination period				7 years
Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Consecutive trading days	30 days
Performance goals, percentage achieved	80.00%
Performance goals, decrease in performance options percent	2.00%
Stock-based compensation \| $				$ 2,100
Performance Based Awards \| Performance Period, One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Price per share, threshold (in dollars per share) \| $ / shares	$ 10.50
Performance Based Awards \| Performance Period, Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Price per share, threshold (in dollars per share) \| $ / shares	13.50
Performance Based Awards \| Performance Period, Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Price per share, threshold (in dollars per share) \| $ / shares	19.50
Performance Based Awards \| Performance Period, Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Price per share, threshold (in dollars per share) \| $ / shares	$ 16.50
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation \| $				$ 800
Issuance of common stock to Hudson Executive Capital LP (in shares) \| shares			80,000
Long-term Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation vesting period				3 years
Minimum \| Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation vesting period				3 years
Minimum \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation vesting period				1 year
Maximum \| Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation vesting period				4 years
Maximum \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation vesting period				3 years

STOCK BASED COMPENSATION PLANS - Summary of Valuation Assumption (Details) - Stock options	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life	4 years 6 months
Expected dividends	0.00%	0.00%	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	74.30%	74.60%	58.40%
Expected life		3 years 6 months	4 years 2 months 12 days
Risk-free interest rate	0.20%	0.30%	2.20%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	77.30%	90.10%	70.90%
Expected life		4 years 9 months 18 days	4 years 6 months
Risk-free interest rate	0.70%	1.60%	2.90%

STOCK BASED COMPENSATION PLANS - Summary of Options Outstanding (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Number of Options
Outstanding options, beginning of period (in shares)	2,437,425	1,127,098	904,766
Granted (in shares)	755,000	2,075,760	470,000
Exercised (in shares)	(74,667)	(440,435)	(11,669)
Forfeited (in shares)	(165,666)	(324,998)	(235,999)
Expired (in shares)	0	0	0
Outstanding options, end of period (in shares)	2,952,092	2,437,425	1,127,098	904,766
Exercisable options, end of period (in shares)	1,040,131	560,871	638,988
Weighted Average Exercise Price
Outstanding options, beginning of period (in USD per share)	$ 6.43	$ 4.84	$ 3.31
Granted (in USD per share)	8.40	6.47	8.22
Exercised (in USD per share)	3.81	2.48	5.40
Forfeited (in USD per share)	6.90	6.55	5.70
Expired (in USD per share)	0	0	0
Outstanding options, end of period (in USD per share)	6.97	6.43	4.84	$ 3.31
Exercisable options, end of period (in USD per share)	$ 6.52	$ 6.01	$ 2.86
Weighted Average Remaining Contractual Term
Outstanding options	5 years 7 months 6 days	6 years 2 months 12 days	4 years 3 months 18 days	4 years 3 months 18 days
Exercisable options, end of period	5 years 1 month 6 days	4 years 9 months 18 days	3 years 4 months 24 days
Aggregate Intrinsic Value
Outstanding options, beginning balance	$ 1,411	$ 2,917	$ 9,664
Exercised	(601)	(595)
Outstanding options, ending balance	14,419	1,411	2,917	$ 9,664
Exercisable options, end of period	$ 5,558	$ 559	$ 2,923

STOCK BASED COMPENSATION PLANS - Company Nonvested Common Shares (Details) - $ / shares	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Shares
Nonvested beginning balance (in shares)	213,014	38,971	165,836
Granted (in shares)	187,848	651,715	40,062
Vested (in shares)	(248,016)	(109,050)	(166,927)
Forfeited (in shares)	(15,000)
Nonvested ending balance (in shares)	137,846	213,014	38,971
Weighted-Average Grant-Date Fair Value
Nonvested beginning balance (in USD per share)	$ 6.50	$ 9.19	$ 4.85
Granted (in USD per share)	10.33	7.28	13.90
Vested (in USD per share)	7.71	7.52	6.01
Forfeited (in USD per share)	6.28
Nonvested ending balance (in USD per share)	$ 9.57	$ 6.50	$ 9.19

STOCK BASED COMPENSATION PLANS - Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 9,075	$ 3,029	$ 1,750
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	7,806	2,181	822
Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,269	$ 848	$ 928

STOCK BASED COMPENSATION PLANS - Unrecognized Stock-based Compensation Expense (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2021 USD ($)
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized expense	$ 8,226
Weighted average recognition period	2 years 2 months 12 days
Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized expense	$ 983
Weighted average recognition period	1 year 4 months 24 days

PREFERRED STOCK - Additional Information (Details)	12 Months Ended
PREFERRED STOCK - Additional Information (Details)	Jun. 30, 2021 $ / shares
Class of Stock [Line Items]
Liquidation price to be received by series A preferred stock holder for each outstanding share plus all cumulative unpaid dividends (in USD per share)	$ 10.00
Series A Convertible Preferred Stock
Class of Stock [Line Items]
Preferred stock, voting percentage	0.1988
Series A preferred stock annual cumulative dividend price per share (in USD per share)	$ 1.50
Series A preferred stock, redemption price per share (in USD per share)	11.00
Series A Convertible Preferred Stock \| Common Stock
Class of Stock [Line Items]
Cumulative unpaid dividends converted into common shares (in USD per share)	$ 1,000

PREFERRED STOCK - Preferred Stock Liquidation Preference (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Class of Stock [Line Items]
Liquidation price (in USD per share)	$ 10.00
Series A Convertible Preferred Stock
Class of Stock [Line Items]
For shares outstanding at $10.00 per share	$ 4,451	$ 4,451
Cumulative unpaid dividends	16,996	16,328
Preferred stock liquidation preference	$ 21,447	$ 20,779

RETIREMENT PLAN (Details) - USD ($) $ in Millions	12 Months Ended
RETIREMENT PLAN (Details) - USD ($) $ in Millions	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Retirement Benefits [Abstract]
Maximum percent of voluntary contribution	100.00%
Defined Contribution Plan Employer Matching Contribution Percent First Slab	100.00%	100.00%	100.00%
Percentage Of Eligible Compensation Contributed By Employees First Slab	3.00%	3.00%	3.00%
Percentage of safe harbor matching contributions for next 2% employee compensation	50.00%	50.00%	50.00%
Percentage of employee compensation eligible for 50% of next safe harbor matching contributions	2.00%	2.00%	2.00%
Company's safe harbor contribution	$ 0.2	$ 0.5	$ 0.4

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
	Jun. 09, 2020	Dec. 31, 2020	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Amount awarded to other party	$ 15,300	$ 500
Amount to be paid by insurance company	12,700
Amount to be paid	$ 2,600
Inventory purchase commitment			$ 28,000
Inventory purchase commitment term			3 years

SUBSEQUENT EVENTS (Details) - Subsequent Event - Delicious Nutritious LLC $ in Millions	1 Months Ended
	Aug. 31, 2021 USD ($)
Subsequent Event [Line Items]
Payments to acquire businesses	$ 3
First Year Contingent Cash Payments
Subsequent Event [Line Items]
Contingent consideration	$ 1
Contingent Equity Payments On Achievements Of Software Licenses Sales Growth Targets
Subsequent Event [Line Items]
Contingent consideration term	3 years
Continued Employment Of Former Owners
Subsequent Event [Line Items]
Contingent consideration term	3 years

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2014-09 [Member]

- Definition

Indicates amendment to accounting standards.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123597120&loc=SL121967933-165497

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123597120&loc=SL121967933-165497

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(2)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (f)(1)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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