0001628280-23-038299 | 10-Q | XBRL Viewer

FINANCE RECEIVABLES

3 Months Ended

Sep. 30, 2023

The Company's finance receivables consist of financed devices under its financing 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 September 30, 2023 and June 30, 2023, finance receivables consist of the following:


($ in thousands)	September 30, 2023		June 30, 2023
Current finance receivables, net	$	6,439	$	6,668
Finance receivables due after one year, net	12,362		13,307
Total finance receivables, net of allowance of $2,149 and $2,098, respectively	$	18,801	$	19,975

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.

Credit risk for finance receivables is continuously monitored by management and reflected within the allowance for finance receivables. As our finance receivables generally have similar risk characteristics, our key credit quality indicator is the aging (days past due status) of our aggregated finance receivables balances. Specifically, we estimate our allowance by using an aging analysis of the aggregated finance receivables balances, primarily based on historical loss experience. Additionally, current conditions are analyzed to determine if the allowance calculation needs to be adjusted further for any qualitative factors impacting a customer’s ability to meet its financial obligations that is not already reflected through the historical loss analysis. The Company writes off finance receivable balances against the allowance for credit losses when management determines the balance is uncollectible and the Company ceases collection efforts.

At September 30, 2023, 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	$	4,142	$	8,970	$	3,080	$	1,084	$	723	$	27	$	18,026
30 days and under	19		129		85		32		35		32		332
31-60 days	14		107		35		19		30		38		243
61-90 days	9		99		25		7		28		38		206
Greater than 90 days	29		948		219		252		140		555		2,143
Total finance receivables	$	4,213	$	10,253	$	3,444	$	1,394	$	956	$	690	$	20,950

At June 30, 2023, 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	$	6,595	$	6,505	$	3,304	$	1,306	$	846	$	829	$	19,385
30 days and under	66		73		69		52		22		68		350
31-60 days	53		40		32		42		19		71		257
61-90 days	60		52		26		32		16		71		257
Greater than 90 days	155		132		197		233		271		836		1,824
Total finance receivables	$	6,929	$	6,802	$	3,628	$	1,665	$	1,174	$	1,875	$	22,073

The following table represents a rollforward of the allowance for finance receivables for the three months ending September 30, 2023 and 2022:


	Three months ended September 30,
($ in thousands)	2023		2022

Balance, beginning of period	$	2,098	$	760
Provision for expected losses	51		392
Write-offs	—		—
Balance, end of period	$	2,149	$	1,152

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


($ in thousands)
2023 (remaining 3 months)	$	6,183
2024	6,659
2025	5,153
2026	3,324
2027	1,351
Thereafter	89
Total amounts to be collected	22,759
Less: interest	(1,809)
Less: allowance for receivables	(2,149)
Total finance receivables	$	18,801

ACQUISITIONS - Summary of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 01, 2022	Aug. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 92,380	$ 92,005		$ 2,700
Three Square Market, Inc.
Business Acquisition [Line Items]
Cash and cash equivalents	891
Accounts receivable	1,780
Inventories	2,011
Intangible assets	14,904
Other assets	670
Total identifiable assets acquired	20,256
Accounts payable	(2,358)
Tax liabilities	(2,470)
Total liabilities assumed	(4,828)
Total identifiable net assets	15,428
Goodwill	25,683		$ 25,700
Fair value of total consideration transferred	$ 41,111

LEASES - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended
LEASES - Narrative (Details) - USD ($) $ in Thousands	Jul. 01, 2023	Sep. 30, 2023	Sep. 30, 2022	Feb. 28, 2023
Leases [Abstract]
Operating lease extension period				73 months
Lease assets obtained in exchange for new operating lease liabilities	$ 1,800	$ 1,788	$ 0
Rental program income		$ 2,000	$ 1,600

ACCOUNTS RECEIVABLE - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Receivables [Abstract]
Accounts receivable, net	$ 36,998	$ 30,162

DEBT AND OTHER FINANCING ARRANGEMENTS

3 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

DEBT AND OTHER FINANCING ARRANGEMENTS

The Company's debt and other financing arrangements as of September 30, 2023 and June 30, 2023 consisted of the following:


	As of September 30,		As of June 30,
($ in thousands)	2023		2023

JPMorgan Credit Facility*	38,375		38,563
Other obligations	44		50
Less: unamortized issuance costs and debt discount	(164)		(183)
Total	38,255		38,430
Less: debt and other financing arrangements, current	(977)		(882)
Debt and other financing arrangements, noncurrent	$	37,278	$	37,548

* See discussion below on amendment to the JPMorgan Credit Facility.

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


	Three months ended
	September 30,
($ in thousands)	2023		2022
JPMorgan Credit Facility*	925		278
Other interest expense	182		199
Total interest expense	$	1,107	$	477

JPMorgan Chase Bank Credit Agreement

On March 17, 2022, the Company entered into an amended and restated credit agreement with JPMorgan Chase Bank, N.A. which provides for a $15 million secured revolving credit facility (the “Amended Revolving Facility”) and a $25 million secured term facility (the “Amended Secured Term Facility” and together with the Amended Revolving Facility, the “Amended JPMorgan Credit Facility”), and fully replaces our previous 2021 JPMorgan Credit Facility. The Amended Secured Term Facility includes a $10 million increase from the 2021 JPMorgan Secured Term Facility which is available for a period of up to twelve months following the Closing Date.

On December 1, 2022, the Company entered into a first amendment (the “2022 Amendment”) to its Amended and Restated Credit Agreement, dated as of March 17, 2022, which, among other things, amended the definition of the Company’s EBITDA under the Credit Agreement. On December 1, 2022, the Company borrowed an additional $25 million under the Amended JPMorgan Credit Facility, including $15 million from the revolving credit facility and $10 million from the term facility, to partially fund the cash consideration of the 32M acquisition as referenced in Note 9 - Acquisition. No issuance costs were capitalized in connection with this amendment.

The proceeds of the Amended JPMorgan Credit Facility may be used to refinance certain existing indebtedness of the Company and its subsidiaries, to finance the working capital needs, and for general corporate purposes (including permitted acquisitions), of the Company and its subsidiaries.

The Amended JPMorgan Credit Facility has a four-year maturity. Interest on the Amended JPMorgan Credit Facility will be based, at the Company’s option, on a base rate or SOFR plus an applicable margin tied to the Company’s total leverage ratio and having ranges of between 2.50% and 3.00% for base rate loans and between 3.50% and 4.00% for SOFR loans; provided that until June 30, 2022 the applicable margin shall be 2.75% for base rate loans and 3.75% for SOFR loans. Subject to the occurrence of a material acquisition and the Company’s total leverage ratio exceeding 3.00 to 1.00, the interest rate on the loans may increase by 0.25%. In an event of default, the interest rate may be increased by 2.00%. The Amended JPMorgan Credit Facility will also carry a commitment fee of 0.50% per annum on the unused portion. As of September 30, 2023, the applicable interest rate for the Amended JPMorgan Credit Facility is approximately 9.1%.

The Amended JPMorgan Credit Facility includes customary representations, warranties and covenants, and acceleration, indemnity and events of default provisions, including, among other things, two financial covenants. One financial covenant requires the Company to maintain, at all times, a total leverage ratio of not more than 3.00 to 1.00 on the last day of any fiscal quarter. The other financial covenant is conditional on a material acquisition occurring: if a material acquisition occurs, the Company is required to maintain a total leverage ratio not greater than 4.00 to 1.00 for the next four fiscal quarters following the material acquisition.

The Company’s obligations under its long-term debt agreements are carried at amortized cost, which approximates their fair value as of September 30, 2023, as the debt facility was recently amended in December 2022 and the interest rates applicable are variable in nature.

The Company was in compliance with its financial covenants for the Amended JPMorgan Credit Facility as of September 30, 2023.

The expected maturities associated with the Company’s outstanding debt and other financing arrangements as of September 30, 2023, were as follows:


2024	$	765
2025	1,333
2026	36,321
2027	—
Principal amounts payable	38,419
Unamortized issuance costs	(164)
Total outstanding debt	$	38,255

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

ACQUISITIONS - Narrative (Details) - USD ($) $ in Thousands			1 Months Ended	3 Months Ended	7 Months Ended	10 Months Ended
ACQUISITIONS - Narrative (Details) - USD ($) $ in Thousands	Dec. 01, 2022	Jul. 27, 2022	Aug. 31, 2021	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2023
Business Acquisition [Line Items]
Goodwill			$ 2,700	$ 92,380	$ 92,005	$ 92,380
Three Square Market, Inc.
Business Acquisition [Line Items]
Fair value of total consideration transferred	$ 41,111
Closing cash consideration	$ 36,605
Number of shares issued in business acquisition	1,240,920
Value of shares issued in business acquisition	$ 4,500
Escrow deposit	500
Goodwill	25,700			$ 25,683		25,683
Net increase in overall purchase price consideration						300
Decrease in working capital related accounts						1,500
Net increase in intangible assets						$ 1,700
Increase in goodwill					$ 100
Three Square Market, Inc. \| Term Facility \| 2021 JPMorgan Secured Term Facility \| Line of Credit
Business Acquisition [Line Items]
Proceeds from long-term debt	25,000
Three Square Market, Inc. \| First Anniversary of Acquisition
Business Acquisition [Line Items]
Percentage of shares released from escrow				50.00%		50.00%
Three Square Market, Inc. \| Second Anniversary of Acquisition
Business Acquisition [Line Items]
Percentage of shares released from escrow				50.00%		50.00%
Yoke
Business Acquisition [Line Items]
Fair value of total consideration transferred			3,966
Closing cash consideration			2,966
Goodwill			2,710
Cash payment to acquire business		$ 1,000	3,000
Deferred cash payment			1,000
Developed technology \| Three Square Market, Inc.
Business Acquisition [Line Items]
Intangible assets acquired	9,000
Estimated useful life				5 years
Customer relationships \| Three Square Market, Inc.
Business Acquisition [Line Items]
Intangible assets acquired	5,400
Estimated useful life				5 years
Customer relationships \| Yoke
Business Acquisition [Line Items]
Intangible assets acquired			300
Trade names \| Three Square Market, Inc.
Business Acquisition [Line Items]
Intangible assets acquired	$ 500
Estimated useful life				3 years
Trade names \| Yoke
Business Acquisition [Line Items]
Intangible assets acquired			100
Developed Technology \| Yoke
Business Acquisition [Line Items]
Intangible assets acquired			$ 900

ACCOUNTS RECEIVABLE

3 Months Ended

Sep. 30, 2023

Receivables [Abstract]

ACCOUNTS RECEIVABLE

Accounts receivable includes amounts due to the Company for sales of equipment and subscription fees, settlement receivables for amounts due from third-party payment processors, receivables from contract manufacturers and unbilled amounts due from customers, net of the allowance for credit losses. Accounts receivable, net of the allowance for uncollectible accounts were $37.0 million as of September 30, 2023 and $30.2 million as of June 30, 2023.

Concentrations

As of September 30, 2023 and June 30, 2023, no customer represented more than 10% of the Company's accounts receivable, net of allowance.

Allowance for credit losses

The Company maintains an allowance for credit 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. The allowance is calculated under an expected loss model. We estimate our allowance using an aging analysis (days past due status) of the receivables balances, primarily based on historical loss experience. Additionally, current conditions are analyzed to determine if the allowance calculation needs to be adjusted further for any qualitative factors impacting a customer’s ability to meet its financial obligations that is not already reflected through the historical loss analysis. The Company writes off receivable balances against the allowance for credit losses when management determines the balance is uncollectible and the Company ceases collection efforts.

The following table represents a rollforward of the allowance for credit losses for the three months ended September 30, 2023 and 2022:


	Three months ended September 30,
($ in thousands)	2023		2022
Balance, beginning of period	$	10,815	$	9,328
Provision for expected losses	958		1,044
Write-offs	(60)		(127)
Balance, end of period	$	11,713	$	10,245

FINANCE RECEIVABLES - Narrative (Details)	3 Months Ended
FINANCE RECEIVABLES - Narrative (Details)	Sep. 30, 2023
Receivables [Abstract]
Finance receivables, lease term	60 months

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income (loss)	$ 2,007	$ (8,574)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Stock based compensation	1,932	1,318
Amortization of debt issuance costs and discounts	32	29
Provision for expected losses	1,000	1,436
Provision for inventory reserve	0	200
Depreciation and amortization included in operating expenses	2,747	1,315
Depreciation included in cost of subscription and transaction fees for rental equipment	342	242
Other	443	657
Changes in operating assets and liabilities:
Accounts receivable	(7,784)	(4,693)
Finance receivables	1,122	(346)
Inventory	(344)	(3,948)
Prepaid expenses and other assets	171	(70)
Accounts payable and accrued expenses	5,152	3,596
Operating lease liabilities	(391)	(369)
Deferred revenue	274	175
Net cash provided by (used in) operating activities	6,703	(9,032)
Cash flows from investing activities:
Capital expenditures	(2,916)	(4,956)
Net cash used in investing activities	(2,916)	(4,956)
Cash flows from financing activities:
Repayment of long-term debt	(193)	(193)
Contingent consideration paid for acquisition	0	(1,000)
Proceeds from exercise of common stock options	76	0
Repurchase of Series A Convertible Preferred Stock	0	(2,151)
Net cash used in financing activities	(117)	(3,344)
Net increase (decrease) in cash and cash equivalents	3,670	(17,332)
Cash and cash equivalents at beginning of year	50,927	68,125
Cash and cash equivalents at end of period	54,597	50,793
Supplemental disclosures of cash flow information:
Interest paid in cash	889	248
Income taxes paid in cash	$ 13	$ 44

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation	$ 1,932	$ 1,318
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 1,100	1,000
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Consecutive trading days	30 days
Performance goals, percentage achieved	80.00%
Decrease in performance options	2.00%
Stock based compensation	$ 300	(200)
Performance Shares \| Performance Period, One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, price per share, threshold (in dollars per share)	$ 10.50
Performance Shares \| Performance Period, Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, price per share, threshold (in dollars per share)	13.50
Performance Shares \| Performance Period, Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, price per share, threshold (in dollars per share)	16.50
Performance Shares \| Performance Period, Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, price per share, threshold (in dollars per share)	$ 19.50
Performance Shares \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Performance Shares \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation	$ 500	$ 500

GOODWILL AND INTANGIBLES - Narrative (Details) $ in Millions	3 Months Ended
	Sep. 30, 2023 USD ($) reportingUnit	Sep. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense of acquired intangible assets	$ 1.6	$ 0.8
Number of reporting units \| reportingUnit	1
Goodwill impairment	$ 0.0	$ 0.0

LEASES

3 Months Ended

Sep. 30, 2023

Leases [Abstract]

LEASES

Lessee Accounting

We have operating leases which are primarily real estate leases used for corporate functions, product development, sales, and other purposes. The following table provides supplemental balance sheet information related to the Company's operating leases:


($ in thousands)	Balance Sheet Classification	As of September 30, 2023		As of June 30, 2023

Assets:	Operating lease right-of-use assets	$	3,963	$	2,575

Liabilities:
Current	Accrued expenses	$	1,015	$	1,266
Long-term	Operating lease liabilities, non-current	4,153		2,504
Total lease liabilities		$	5,168	$	3,770

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


($ in thousands)	Three months ended September 30, 2023		Three months ended September 30, 2022

Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	604	$	546

Non-cash activity:
Lease assets obtained in exchange for new operating lease liabilities	$	1,788	$	—

Maturities of lease liabilities by fiscal year for our leases as of September 30, 2023 are as follows:


($ in thousands)	Operating Leases
Remainder of 2024	$	1,007
2025	1,604
2026	1,576
2027	952
2028	506
Thereafter	$	564
Total lease payments	$	6,209
Less: Imputed interest	(1,041)
Present value of lease liabilities	$	5,168

In February 2023, the Company extended the lease for its existing Atlanta, Georgia office for an additional 73-months period including rent-free periods. The lease commenced on July 1, 2023 and we recognized right-of-use operating lease assets of $1.8 million in exchange for operating lease liabilities.

Lessor Accounting

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


($ in thousands)	September 30, 2023		June 30, 2023
Cost	$	29,019	28,398
Accumulated depreciation	(23,562)		(23,221)
Net	$	5,457	$	5,177

For the three months ended September 30, 2023 and 2022, the Company recognized $2.0 million and $1.6 million of revenue from its device rental program, respectively, included in the Subscription and Transaction fees on its Condensed Consolidated Statements of Operations.

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 September 30, 2023 are disclosed within Note 4 - Finance Receivables.

LEASES

Lessee Accounting


($ in thousands)	Balance Sheet Classification	As of September 30, 2023		As of June 30, 2023

Assets:	Operating lease right-of-use assets	$	3,963	$	2,575

Liabilities:
Current	Accrued expenses	$	1,015	$	1,266
Long-term	Operating lease liabilities, non-current	4,153		2,504
Total lease liabilities		$	5,168	$	3,770

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


($ in thousands)	Three months ended September 30, 2023		Three months ended September 30, 2022

Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	604	$	546

Non-cash activity:
Lease assets obtained in exchange for new operating lease liabilities	$	1,788	$	—

Maturities of lease liabilities by fiscal year for our leases as of September 30, 2023 are as follows:


($ in thousands)	Operating Leases
Remainder of 2024	$	1,007
2025	1,604
2026	1,576
2027	952
2028	506
Thereafter	$	564
Total lease payments	$	6,209
Less: Imputed interest	(1,041)
Present value of lease liabilities	$	5,168

Lessor Accounting

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


($ in thousands)	September 30, 2023		June 30, 2023
Cost	$	29,019	28,398
Accumulated depreciation	(23,562)		(23,221)
Net	$	5,457	$	5,177

LEASES

Lessee Accounting


($ in thousands)	Balance Sheet Classification	As of September 30, 2023		As of June 30, 2023

Assets:	Operating lease right-of-use assets	$	3,963	$	2,575

Liabilities:
Current	Accrued expenses	$	1,015	$	1,266
Long-term	Operating lease liabilities, non-current	4,153		2,504
Total lease liabilities		$	5,168	$	3,770

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


($ in thousands)	Three months ended September 30, 2023		Three months ended September 30, 2022

Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	604	$	546

Non-cash activity:
Lease assets obtained in exchange for new operating lease liabilities	$	1,788	$	—

Maturities of lease liabilities by fiscal year for our leases as of September 30, 2023 are as follows:


($ in thousands)	Operating Leases
Remainder of 2024	$	1,007
2025	1,604
2026	1,576
2027	952
2028	506
Thereafter	$	564
Total lease payments	$	6,209
Less: Imputed interest	(1,041)
Present value of lease liabilities	$	5,168

Lessor Accounting

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


($ in thousands)	September 30, 2023		June 30, 2023
Cost	$	29,019	28,398
Accumulated depreciation	(23,562)		(23,221)
Net	$	5,457	$	5,177

ACCRUED EXPENSES

3 Months Ended

Sep. 30, 2023

Payables and Accruals [Abstract]

ACCRUED EXPENSES

Accrued expenses consisted of the following as of September 30, 2023 and June 30, 2023:


	As of September 30,		As of June 30,
($ in thousands)	2023		2023

Sales tax reserve	14,344		$	13,597
Accrued compensation and related sales commissions	1,634		4,069
Operating lease liabilities, current	1,015		1,266
Accrued professional fees	4,094		4,196
Accrued taxes and filing fees payable	1,835		1,944

Other accrued expenses	1,467		762
Consideration withheld in escrow for the 32M acquisition*	442		442
Total accrued expenses	$	24,831	$	26,276

* See Note 9 - Acquisition for description of the arrangement.

EARNINGS (LOSS) PER SHARE CALCULATION - Narrative (Details) - shares shares in Millions	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Antidilutive shares excluded from the calculation of diluted earnings per shares (in shares)	1	4

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Statement of Financial Position [Abstract]
Convertible preferred stock, shares authorized (in shares)	900,000	900,000
Convertible preferred stock, shares issued (in shares)	385,782	385,782
Convertible preferred stock, shares outstanding (in shares)	385,782	385,782
Convertible preferred stock, liquidation preference	$ 22,433	$ 22,144
Common stock, shares authorized (in shares)	640,000,000	640,000,000
Common stock, shares issued (in shares)	72,695,265	72,664,464
Common stock, shares outstanding (in shares)	72,695,265	72,664,464

ACCRUED EXPENSES (Tables)

3 Months Ended

Sep. 30, 2023

Payables and Accruals [Abstract]

Schedule of Accrued Expenses

Accrued expenses consisted of the following as of September 30, 2023 and June 30, 2023:


	As of September 30,		As of June 30,
($ in thousands)	2023		2023

Sales tax reserve	14,344		$	13,597
Accrued compensation and related sales commissions	1,634		4,069
Operating lease liabilities, current	1,015		1,266
Accrued professional fees	4,094		4,196
Accrued taxes and filing fees payable	1,835		1,944

Other accrued expenses	1,467		762
Consideration withheld in escrow for the 32M acquisition*	442		442
Total accrued expenses	$	24,831	$	26,276

* See Note 9 - Acquisition for description of the arrangement.

REVENUES (Tables)

3 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Based on similar operational characteristics, the Company's revenues are disaggregated as follows:


	Three months ended September 30,
($ in thousands)		2023		2022
Transaction fees		$	37,030	$	31,295
Subscription fees		18,105		15,780
Subscription and transaction fees		$	55,135	$	47,075
Equipment sales		7,548		10,707
Total revenues		$	62,683	$	57,782

Contract Liabilities

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


	Three months ended September 30,		Three months ended September 30,
($ in thousands)	2023		2022

Deferred revenue, beginning of the period	$	1,666	$	1,893
Deferred revenue, end of the period	1,940		2,069
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period	$	92	$	106

Future Performance Obligations

The following table reflects the estimated fees to be recognized in the future related to performance obligations that are unsatisfied as of September 30, 2023:


($ in thousands)	As of September 30, 2023
Remainder of 2024	$	4,177
2025	5,425
2026	2,778
Thereafter	—
Total	$	12,380

SHAREHOLDER'S EQUITY AND PREFERRED STOCK (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Class of Stock [Line Items]
Retirement of preferred stock, value		$ 1,733
Repurchase of Series A convertible preferred stock	$ 0	2,151
Amount in excess of fair value of preferred stock		$ 300
Preferred Class A
Class of Stock [Line Items]
Retirement of preferred stock (in shares)		59,281
Retirement of preferred stock, value		$ 2,450
Preferred Stock
Class of Stock [Line Items]
Repurchase of Series A convertible preferred stock		420
Common Stock
Class of Stock [Line Items]
Repurchase of Series A convertible preferred stock		$ 1,730

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 505
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

BUSINESS	3 Months Ended
BUSINESS	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS	BUSINESS Cantaloupe, Inc., is organized under the laws of the Commonwealth of Pennsylvania. We are a digital payments and software services company that provides end-to-end technology solutions for self-service commerce. We offer a single platform for self-service commerce which includes integrated payments processing and software solutions that handle 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. Our customers range from vending machine companies to operators of micro-markets and smart retail, laundromats, metered parking terminals, amusement and entertainment venues, IoT services and more. Cantaloupe, Inc. and its consolidated subsidiaries are referred to herein collectively as "Cantaloupe," the "Company," "we," "our" or "us," unless the context requires otherwise.

REVENUES

3 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

REVENUES

Based on similar operational characteristics, the Company's revenues are disaggregated as follows:


	Three months ended September 30,
($ in thousands)		2023		2022
Transaction fees		$	37,030	$	31,295
Subscription fees		18,105		15,780
Subscription and transaction fees		$	55,135	$	47,075
Equipment sales		7,548		10,707
Total revenues		$	62,683	$	57,782

Contract Liabilities

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


	Three months ended September 30,		Three months ended September 30,
($ in thousands)	2023		2022

Deferred revenue, beginning of the period	$	1,666	$	1,893
Deferred revenue, end of the period	1,940		2,069
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period	$	92	$	106

The change in the contract liability balances period-over-period is primarily the result of timing difference between the Company’s satisfaction of a performance obligation and payment from the customer.

Future Performance Obligations

The Company will recognize revenue in future periods related to remaining performance obligations for certain open contracts. Generally, these contracts have terms of one year or less. The amount of revenue related to unsatisfied performance obligations in which the original duration of the contract is greater than one year are primarily associated with the Company's Cantaloupe ONE rental program which has a contractual term of 36 months. The following table reflects the estimated fees to be recognized in the future related to performance obligations that are unsatisfied as of September 30, 2023:


($ in thousands)	As of September 30, 2023
Remainder of 2024	$	4,177
2025	5,425
2026	2,778
Thereafter	—
Total	$	12,380

Contract Costs

At September 30, 2023, the Company had net capitalized costs to obtain contracts of $0.6 million included in Prepaid expenses and other current assets and $2.8 million included in Other noncurrent assets on the Condensed Consolidated Balance Sheet. At June 30, 2023, the Company had net capitalized costs to obtain contracts of $0.6 million included in Prepaid expenses and other current assets and $2.8 million included in Other noncurrent assets on the Condensed Consolidated Balance Sheet. None of these capitalized contract costs were impaired.

During the three months ended September 30, 2023, amortization of capitalized contract costs was $0.2 million. During the three months ended September 30, 2022, amortization of capitalized contract costs was $0.2 million.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Paragraph 9
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

GOODWILL AND INTANGIBLE ASSETS (Tables)

3 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Asset Balances and Goodwill

Intangible asset balances and goodwill consisted of the following:


	As of September 30, 2023
($ in thousands)	Gross		Accumulated Amortization		Net		Amortization Period
Intangible assets:
Brand and tradenames	$	2,161	$	(1,517)	$	644	1 - 7 years
Developed technology	20,188		(11,989)		8,199		5 - 6 years
Customer relationships	24,714		(7,321)		17,393		5 - 18 years
Total intangible assets	$	47,063	$	(20,827)	$	26,236

Goodwill	92,380		—		92,380		Indefinite


	As of June 30, 2023
($ in thousands)	Gross		Accumulated Amortization		Net		Amortization Period
Intangible assets:
Brand and tradenames	2,161		(1,414)		747		1 - 7 years
Developed technology	20,188		(11,066)		9,122		5 - 6 years
Customer relationships	24,714		(6,771)		17,943		5 - 18 years
Total intangible assets	$	47,063	$	(19,251)	$	27,812

Goodwill	92,005		—		92,005		Indefinite

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Related Party Transactions [Abstract]
Cost of subscription and transaction fees	$ 0.1	$ 0.1

STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Sep. 30, 2023

Equity [Abstract]

Schedule of Stock Options Granted, Weighted Average Assumptions

The fair value of options granted during the three months ended September 30, 2023 and 2022 were determined using the following assumptions and includes only options with an established grant date under ASC 718:


	Three months ended September 30,
		2023			2022
Expected volatility (percent)		61.3% - 69.7%			74.6% - 75.1%
Weighted average expected life (years)		4.2 - 4.5			4.5
Dividend yield (percent)		0.0		%	0.0		%
Risk-free interest rate (percent)		4.2% - 4.3%			2.7% - 3.2%
Number of options granted		110,000			600,000
Weighted average exercise price		$	7.00		$	6.51
Weighted average grant date fair value		$	4.35		$	3.91

Cover Page - shares	3 Months Ended
Cover Page - shares	Sep. 30, 2023	Nov. 03, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		72,727,360
Entity Central Index Key	0000896429
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--06-30
Document Fiscal Period Focus	Q1
Amendment Flag	false

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income (loss)	$ 2,007	$ (8,574)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

ACCOUNTS RECEIVABLE - Schedule of Rollforward of Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 10,815	$ 9,328
Provision for expected losses	958	1,044
Write-offs	(60)	(127)
Balance, end of period	$ 11,713	$ 10,245

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income tax provision	$ 81	$ 26
Unrecognized income tax benefit	$ 700	$ 600

- Definition

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

+ References + Details

STOCK-BASED COMPENSATION

3 Months Ended

Sep. 30, 2023

Equity [Abstract]

STOCK-BASED COMPENSATION

STOCK BASED COMPENSATION

Stock Options

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.


	Three months ended September 30,
		2023			2022
Expected volatility (percent)		61.3% - 69.7%			74.6% - 75.1%
Weighted average expected life (years)		4.2 - 4.5			4.5
Dividend yield (percent)		0.0		%	0.0		%
Risk-free interest rate (percent)		4.2% - 4.3%			2.7% - 3.2%
Number of options granted		110,000			600,000
Weighted average exercise price		$	7.00		$	6.51
Weighted average grant date fair value		$	4.35		$	3.91

Stock based compensation related to stock options with an established grant date for the three months ended September 30, 2023 and 2022 was $1.1 million and $1.0 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 subject to the achievement of performance goals to be established by the Company's Board for each fiscal year.

The Compensation Committee of the Board of Directors has 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" as defined in ASC Topic 718 Compensation — Stock Compensation, 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 three months ended September 30, 2023 for these awards was $0.3 million. The total benefits recognized for the three months ended September 30, 2022 for these awards was $(0.2) million, as a result of reversing unvested grants for terminated executives during the period.

Common Stock Awards

The total expense recognized for common stock awards for the three months ended September 30, 2023 and 2022 was $0.5 million.

REVENUES - Contract Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 1,940	$ 2,069	$ 1,666	$ 1,893
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period	$ 92	$ 106

EARNINGS (LOSS) PER SHARE CALCULATION

3 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

EARNINGS (LOSS) PER SHARE CALCULATION

Basic earnings (loss) per share is computed by dividing net earnings (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 earnings (loss) per share is presented below:


	Three months ended September 30,
($ in thousands, except per share data)	2023		2022

Numerator for basic and diluted loss per share
Net income (loss)	$	2,007	$	(8,574)
Preferred dividends	(289)		(334)
Net income (loss) applicable to common shareholders	1,718		(8,908)

Denominator for basic earnings (loss) per share - Weighted average shares outstanding	72,717,965		71,207,750
Effect of dilutive potential common shares	1,587,547		—
Denominator for diluted earnings (loss) per share - Adjusted weighted average shares outstanding	74,305,512		71,207,750

Basic earnings (loss) per share	$	0.02	$	(0.13)
Diluted earnings (loss) per share	$	0.02	$	(0.13)

Potentially anti-dilutive shares excluded from the calculation of diluted earnings (loss) per share were approximately 1 million and 4 million for the three months ended September 30, 2023 and 2022, respectively.

ACQUISITIONS (Tables)

3 Months Ended

Sep. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisition

The estimated fair value of the purchase price consideration consisted of the following:


($ in thousands)
Closing cash consideration	$	36,605
Stock consideration	4,506
Fair value of total consideration transferred	$	41,111

The following table summarizes the adjusted fair value assigned to the assets acquired and liabilities assumed as of September 30, 2023.


($ in thousands)	Amount
Cash and cash equivalents	$	891
Accounts receivable	1,780
Inventories	2,011
Intangible assets	14,904
Other assets	670
Total identifiable assets acquired	20,256
Accounts payable	(2,358)
Tax liabilities	(2,470)
Total liabilities assumed	(4,828)
Total identifiable net assets	15,428
Goodwill	25,683
Fair value of total consideration transferred	$	41,111

The following table summarizes the total consideration paid for Yoke, total net assets acquired, identifiable assets and goodwill recognized at the acquisition date:


($ in thousands)	Amount
Consideration
Cash	$	2,966
Contingent consideration arrangement	1,000
Fair value of total consideration transferred	3,966

Recognized amounts of identifiable assets
Total net assets acquired	21
Identifiable intangible assets	1,235
Total identifiable net assets	1,256

Goodwill	$	2,710

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation and Preparation	Basis of Presentation and Preparation The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements and therefore should be read in conjunction with the Company’s June 30, 2023 Annual Report on Form 10-K. 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. Operating results for the interim periods presented are not necessarily indicative of the results that may be expected for the entire fiscal year. 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. In connection with the Company's acquisition of Three Square Market, Inc., a Wisconsin corporation, and Three Square Market Limited, a UK private limited company (collectively "32M"), we assessed the foreign exchange impact associated with 32M's UK operations which utilizes the British Pound as its functional currency, and concluded the foreign currency fluctuations were immaterial to our financial statements including Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Operations, Condensed Consolidated Statements of Convertible Preferred Stock and Shareholders’ Equity, and Condensed Consolidated Statement of Cash Flows. The Company will continue to monitor and assess its exposures to foreign exchange fluctuations in future periods.
Reclassification	Reclassification Beginning with the fourth quarter of fiscal year 2023, the Company presented Convertible Preferred Stock on its Consolidated Statements of Shareholders’ Equity and changed the name of the statement to Consolidated Statements of Convertible Preferred Stock and Shareholders’ Equity accordingly. Prior period amounts have been reclassified to conform to the current period presentation.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting PronouncementsNo other new accounting pronouncements, issued or effective during the period ended September 30, 2023, have had or are expected to have a significant impact on the Company’s financial statements.

ACCOUNTS RECEIVABLE (Tables)

3 Months Ended

Sep. 30, 2023

Receivables [Abstract]

Schedule of Rollforward of Allowance for Doubtful Accounts

The following table represents a rollforward of the allowance for credit losses for the three months ended September 30, 2023 and 2022:


	Three months ended September 30,
($ in thousands)	2023		2022
Balance, beginning of period	$	10,815	$	9,328
Provision for expected losses	958		1,044
Write-offs	(60)		(127)
Balance, end of period	$	11,713	$	10,245

ACQUISITIONS

3 Months Ended

Sep. 30, 2023

Business Combination and Asset Acquisition [Abstract]

ACQUISITIONS

Three Square Market

On December 1, 2022, the Company acquired all of the equity interests of Three Square Market, Inc., a Wisconsin corporation, and Three Square Market Limited, a UK private limited company (collectively "32M") pursuant to an Equity Purchase Agreement. 32M is a leading provider of software and self-service kiosk-based point of sale and payment solutions to the micro market industry and the acquisition expanded the Company's presence in that industry. In addition to new technology and services, due to 32M’s existing customer base, the acquisition expanded the Company’s footprint into new global markets.

The acquisition of 32M was accounted for as a business combination using the acquisition method of accounting. The purchase price of the acquired company was allocated between tangible and intangible assets acquired and liabilities assumed from the acquired business based on their estimated fair values using primarily Level 3 inputs under ASC Topic 820, Fair Value Measurement, with the residual of the purchase price recorded as goodwill.

The Company paid an aggregate purchase price consideration of $41.1 million, which consisted of $36.6 million in cash and 1,240,920 shares of the Company's common stock (the "Stock Consideration") with an aggregate fair value of $4.5 million for the acquisition of 32M. The aggregate cash consideration includes $0.5 million of cash paid into an escrow account for net working capital and other post-closing adjustments. Additionally, the Stock Consideration of 1,240,920 shares ("Escrowed Shares") referred to above were placed into an escrow account to resolve indemnification claims for breach of certain representations and warranties and will be released 50% on the first anniversary of the acquisition date and 50% on the second anniversary of the acquisition date, less any shares that may be returned to the Company on account of any indemnity claims. The Escrowed Shares are considered to be issued and outstanding shares of the Company as of the acquisition date.

The company funded the cash consideration of the acquisition by borrowing $25 million of debt from the JPMorgan Credit Facility and the remaining consideration utilizing existing cash on hand.

The estimated fair value of the purchase price consideration consisted of the following:


($ in thousands)
Closing cash consideration	$	36,605
Stock consideration	4,506
Fair value of total consideration transferred	$	41,111

The following table summarizes the adjusted fair value assigned to the assets acquired and liabilities assumed as of September 30, 2023.


($ in thousands)	Amount
Cash and cash equivalents	$	891
Accounts receivable	1,780
Inventories	2,011
Intangible assets	14,904
Other assets	670
Total identifiable assets acquired	20,256
Accounts payable	(2,358)
Tax liabilities	(2,470)
Total liabilities assumed	(4,828)
Total identifiable net assets	15,428
Goodwill	25,683
Fair value of total consideration transferred	$	41,111

The Company determined the fair value of the identifiable intangible assets acquired with the assistance of third-party valuation consultants. Amounts allocated to identifiable intangible assets included $9.0 million related to developed technology, $5.4 million related to customer relationships, and $0.5 million related to trade names. The fair value of the acquired developed technology was determined using a multi-period excess earnings method. The fair value of the acquired customer relationships was determined using the with-and-without method which estimates the value using the cash flow impact in a scenario where the customer relationships are not in place. The significant unobservable inputs used in the valuation of the customer relationship asset and acquired developed technology asset are the revenue growth rates used in the development of the projected financial information used as an input to calculate those values and the discount rate applied. The recognized intangible assets will be amortized on a straight-line basis over the estimated useful lives of the respective assets. The estimated useful lives for developed technology, customer relationship, trade names were 5, 5 and 3 years, respectively.

Goodwill of $25.7 million arising from the acquisition includes the expected synergies between 32M and the Company and intangible assets that do not qualify for separate recognition at the time of acquisition. The goodwill, which is deductible for income tax purposes, was assigned to the Company’s only reporting unit.

Subsequent to the acquisition closing date and within the one-year measurement period, the Company adjusted the purchase price allocation from what was initially recognized to reflect facts and circumstances in existence as of the acquisition close date. These adjustments included a net increase of $0.3 million to the overall purchase price consideration, a net decrease of $1.5 million in working capital related accounts and a net increase of $1.7 million in intangible assets. Recognized goodwill increased by $0.1 million as a result of these adjustments.

The Company is substantially complete with the purchase price allocation as of September 30, 2023. Additional purchase price adjustments could be recorded during the remaining measurement period if additional facts and circumstances in existence as of the acquisition close date are identified that require adjustment to the value the assets acquired and liabilities assumed.

Yoke Payments

In 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 acquisition of Yoke was accounted for as a business combination using the acquisition method of accounting which includes the results of operations of the acquired business from the date of acquisition. The purchase price of the acquired company is allocated between tangible and intangible assets acquired and liabilities assumed from the acquired business based on their estimated fair values using primarily Level 3 inputs under ASC Topic 820, Fair Value Measurement, with the residual of the purchase price recorded as goodwill.

Through the acquisition, Yoke’s point of sale platform extended its offering to provide self-checkout while seamlessly integrating with Cantaloupe’s inventory management and payment processing platforms.

The consideration transferred for the acquisition included payments of $3 million in cash at the close of the transaction and $1 million in deferred cash payment due on or before July 30, 2022 based on the achievement of certain sales growth targets. On July 27, 2022, the Company made the cash payment of $1 million in accordance with the agreement consideration.

Additionally in connection with the acquisition, the Company will issue common stock to the former owners of Yoke based on the achievement of certain sales growth targets for software licenses through July 31, 2024 and continued employment as of the

respective measurement dates. The accounting treatment for these awards in the context of the business combination is to recognize the awards as a post-combination expense and were not included in the purchase price. We will begin recognizing compensation expense for these awards over that requisite service period when it becomes probable that the performance condition would be satisfied. At each reporting date, we assess the probability of achieving the sales targets and fulfilling the performance condition. As of September 30, 2023, we determined that it is not probable that the performance condition would be satisfied and, accordingly, have not recognized compensation expense related to these awards.

The following table summarizes the total consideration paid for Yoke, total net assets acquired, identifiable assets and goodwill recognized at the acquisition date:


($ in thousands)	Amount
Consideration
Cash	$	2,966
Contingent consideration arrangement	1,000
Fair value of total consideration transferred	3,966

Recognized amounts of identifiable assets
Total net assets acquired	21
Identifiable intangible assets	1,235
Total identifiable net assets	1,256

Goodwill	$	2,710

Amounts allocated to identifiable intangible assets included $0.9 million related to developed technology, $0.3 million related to customer relationships, and $0.1 million related to other intangible assets. The fair value of the acquired developed technology was determined using a multi-period excess earnings method. The fair value of the acquired customer relationships was determined using the with-and-without method which estimates the value using the cash flow impact in a scenario where the customer relationships are not in place. The recognized intangible assets will be amortized on a straight-line basis over the estimated useful lives of the respective assets.

Goodwill of $2.7 million arising from the acquisition includes the expected synergies between Yoke and the Company and intangible assets that do not qualify for separate recognition at the time of acquisition. The goodwill, which is deductible for income tax purposes, was assigned to the Company’s only reporting unit.

The above table represents the final allocation of the purchase price, noting no material measurement period adjustments. Pro forma financial information of the acquisition is not presented due to the immaterial impact of the financial results of Yoke in the Company's Consolidated Financial Statements.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Sep. 30, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Preparation The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements and therefore should be read in conjunction with the Company’s June 30, 2023 Annual Report on Form 10-K. 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. Operating results for the interim periods presented are not necessarily indicative of the results that may be expected for the entire fiscal year. 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. In connection with the Company's acquisition of Three Square Market, Inc., a Wisconsin corporation, and Three Square Market Limited, a UK private limited company (collectively "32M"), we assessed the foreign exchange impact associated with 32M's UK operations which utilizes the British Pound as its functional currency, and concluded the foreign currency fluctuations were immaterial to our financial statements including Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Operations, Condensed Consolidated Statements of Convertible Preferred Stock and Shareholders’ Equity, and Condensed Consolidated Statement of Cash Flows. The Company will continue to monitor and assess its exposures to foreign exchange fluctuations in future periods. Reclassification Beginning with the fourth quarter of fiscal year 2023, the Company presented Convertible Preferred Stock on its Consolidated Statements of Shareholders’ Equity and changed the name of the statement to Consolidated Statements of Convertible Preferred Stock and Shareholders’ Equity accordingly. Prior period amounts have been reclassified to conform to the current period presentation. Recently Adopted Accounting Pronouncements No other new accounting pronouncements, issued or effective during the period ended September 30, 2023, have had or are expected to have a significant impact on the Company’s financial statements.

DEBT AND OTHER FINANCING ARRANGEMENTS - JP Morgan Chase Bank Credit Agreement (Details) - Line of Credit $ in Millions	Sep. 30, 2023	Dec. 01, 2022 USD ($)	Mar. 17, 2022 USD ($)
2022 JPMorgan Revolving Credit Facility
Debt Instrument [Line Items]
Term			4 years
Total leverage ration, maximum			3.00
Commitment fee			0.50%
Interest rate during period	9.10%
2022 JPMorgan Revolving Credit Facility \| Period One
Debt Instrument [Line Items]
Interest rate, increase			0.25%
Adjusted quick ratio, maximum			3.00
2022 JPMorgan Revolving Credit Facility \| Period Two
Debt Instrument [Line Items]
Interest rate, increase			2.00%
Adjusted quick ratio, maximum			4.00
2022 JPMorgan Revolving Credit Facility \| Term Facility
Debt Instrument [Line Items]
Proceeds from long-term debt		$ 25
Proceeds from revolving credit facility		10
2022 JPMorgan Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 15
Proceeds from revolving credit facility		$ 15
2022 JPMorgan Secured Term Facility
Debt Instrument [Line Items]
Increase in line of credit			10
2022 JPMorgan Secured Term Facility \| Term Facility
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 25
Minimum \| 2022 JPMorgan Revolving Credit Facility \| Base Rate \| Period One
Debt Instrument [Line Items]
Variable rate			2.50%
Minimum \| 2022 JPMorgan Revolving Credit Facility \| Base Rate \| Period Two
Debt Instrument [Line Items]
Variable rate			2.75%
Minimum \| 2022 JPMorgan Revolving Credit Facility \| Secured Overnight Financing Rate \| Period One
Debt Instrument [Line Items]
Variable rate			3.50%
Maximum \| 2022 JPMorgan Revolving Credit Facility \| Base Rate \| Period One
Debt Instrument [Line Items]
Variable rate			3.00%
Maximum \| 2022 JPMorgan Revolving Credit Facility \| Secured Overnight Financing Rate \| Period One
Debt Instrument [Line Items]
Variable rate			4.00%
Maximum \| 2022 JPMorgan Revolving Credit Facility \| Secured Overnight Financing Rate \| Period Two
Debt Instrument [Line Items]
Variable rate			3.75%

FINANCE RECEIVABLES - Summary of Finance Receivables Fiscal Years (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Jun. 30, 2022
Receivables [Abstract]
2023 (remaining 3 months)	$ 6,183
2024	6,659
2025	5,153
2026	3,324
2027	1,351
Thereafter	89
Total amounts to be collected	22,759
Less: interest	(1,809)
Less: allowance for receivables	(2,149)	$ (2,098)	$ (1,152)	$ (760)
Total finance receivables	$ 18,801	$ 19,975

FINANCE RECEIVABLES - Information Regarding Finance Receivables (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Jun. 30, 2022
Receivables [Abstract]
Current finance receivables, net	$ 6,439	$ 6,668
Finance receivables due after one year, net	12,362	13,307
Total finance receivables	18,801	19,975
Finance receivable, allowance	$ 2,149	$ 2,098	$ 1,152	$ 760

- Definition

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

+ References + Details

LEASES - Property and Equipment Costs (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Leases [Abstract]
Cost	$ 29,019	$ 28,398
Accumulated depreciation	(23,562)	(23,221)
Net	$ 5,457	$ 5,177

DEBT AND OTHER FINANCING ARRANGEMENTS - Debt and Other Financing Arrangement Summary (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Debt Instrument [Line Items]
Long-term debt	$ 38,419
Less: unamortized issuance costs and debt discount	(164)	$ (183)
Total	38,255	38,430
Less: debt and other financing arrangements, current	(977)	(882)
Debt and other financing arrangements, noncurrent	37,278	37,548
Line of Credit \| JP Morgan Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt	38,375	38,563
Other obligations
Debt Instrument [Line Items]
Long-term debt	$ 44	$ 50

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 54,597	$ 50,927
Accounts receivable, net	36,998	30,162
Finance receivables, net	6,439	6,668
Inventory, net	32,216	31,872
Prepaid expenses and other current assets	3,741	3,754
Total current assets	133,991	123,383
Non-current assets:
Finance receivables due after one year, net	12,362	13,307
Property and equipment, net	26,683	25,281
Operating lease right-of-use assets	3,963	2,575
Intangibles, net	26,236	27,812
Goodwill	92,380	92,005
Other assets	5,080	5,249
Total non-current assets	166,704	166,229
Total assets	300,695	289,612
Current liabilities:
Accounts payable	59,591	52,869
Accrued expenses	24,831	26,276
Current obligations under long-term debt	977	882
Deferred revenue	1,940	1,666
Total current liabilities	87,339	81,693
Long-term liabilities:
Deferred income taxes	318	275
Long-term debt, less current portion	37,278	37,548
Operating lease liabilities, non-current	4,153	2,504
Total long-term liabilities	41,749	40,327
Total liabilities	129,088	122,020
Commitments and contingencies (Note 15)
Convertible preferred stock:
Series A convertible preferred stock, 900,000 shares authorized, 385,782 issued and outstanding, with liquidation preferences of $22,433 and $22,144 at September 30, 2023 and June 30, 2023, respectively	2,720	2,720
Shareholders’ equity:
Common stock, no par value, 640,000,000 shares authorized, 72,695,265 and 72,664,464 shares issued and outstanding at September 30, 2023 and June 30, 2023, respectively	479,332	477,324
Accumulated deficit	(310,445)	(312,452)
Total shareholders’ equity	168,887	164,872
Total liabilities, convertible preferred stock, and shareholders’ equity	$ 300,695	$ 289,612

FINANCE RECEIVABLES - Schedule of Credit Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 2,098	$ 760
Provision for expected losses	51	392
Write-offs	0	0
Balance, end of period	$ 2,149	$ 1,152

- Definition

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

+ References + Details

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2023
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. Leases The Company has entered into various operating lease obligations. See Note 5 - Leases for additional information. Outstanding Debt The Company has debt and other financing arrangements. See Note 6 - Debt and other financing arrangements for additional information. Purchase Commitments As of September 30, 2023, the Company had no material firm purchase commitments over the next year.

REVENUES - Performance Obligations (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation	$ 12,380
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation	$ 4,177
Performance obligation, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation	$ 5,425
Performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation	$ 2,778
Performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation	$ 0
Performance obligation, period

Condensed Consolidated Statements of Convertible Preferred Stock and Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Accumulated Deficit
Increase (Decrease) in Temporary Equity [Roll Forward]
Convertible Preferred Stock, beginning balance	$ 3,138
Convertible Preferred Stock, beginning balance (in shares) at Jun. 30, 2022	445,063
Increase (Decrease) in Temporary Equity [Roll Forward]
Repurchase of Series A convertible preferred stock (in shares)	(59,281)
Repurchase of Series A convertible preferred stock	$ (418)
Convertible Preferred Stock, ending balance (in shares) at Sep. 30, 2022	385,782
Convertible Preferred Stock, ending balance at Sep. 30, 2022	$ 2,720
Beginning balance (in shares) at Jun. 30, 2022		71,188,053
Beginning balance at Jun. 30, 2022	156,833	$ 469,918	$ (313,085)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation and exercises (net) (in shares)		30,077
Stock-based compensation	1,318	$ 1,318
Repurchase of Series A convertible preferred stock	(1,733)	$ (1,733)
Net income (loss)	(8,574)		(8,574)
Ending balance (in shares) at Sep. 30, 2022		71,218,130
Ending balance at Sep. 30, 2022	147,844	$ 469,503	(321,659)
Increase (Decrease) in Temporary Equity [Roll Forward]
Convertible Preferred Stock, beginning balance	2,720
Convertible Preferred Stock, beginning balance	$ 2,720
Convertible Preferred Stock, beginning balance (in shares) at Jun. 30, 2023	385,782
Increase (Decrease) in Temporary Equity [Roll Forward]
Exercise of stock options (in shares)		10,000
Exercise of stock options	$ 74	$ 74
Convertible Preferred Stock, ending balance (in shares) at Sep. 30, 2023	385,782
Convertible Preferred Stock, ending balance at Sep. 30, 2023	$ 2,720
Beginning balance (in shares) at Jun. 30, 2023		72,664,464
Beginning balance at Jun. 30, 2023	164,872	$ 477,324	(312,452)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation and exercises (net) (in shares)		20,801
Stock-based compensation	1,934	$ 1,934
Net income (loss)	2,007		2,007
Ending balance (in shares) at Sep. 30, 2023		72,695,265
Ending balance at Sep. 30, 2023	168,887	$ 479,332	$ (310,445)
Increase (Decrease) in Temporary Equity [Roll Forward]
Convertible Preferred Stock, beginning balance	$ 2,720

SHAREHOLDER'S EQUITY AND PREFERRED STOCK	3 Months Ended
SHAREHOLDER'S EQUITY AND PREFERRED STOCK	Sep. 30, 2023
Equity [Abstract]
SHAREHOLDER'S EQUITY AND PREFERRED STOCK	SHAREHOLDERS' EQUITY AND PREFERRED STOCKDuring the three months ended September 30, 2022, the Company retired 59,281 shares of its Series A convertible preferred stock that it purchased for an aggregate amount of approximately $2.45 million. The repurchase transaction was primarily accounted for as an extinguishment of preferred stock and recorded as a decrease to the carrying value of the preferred stock in the amount of $0.42 million and common stock of $1.73 million for an aggregate amount of $2.15 million that was included within the Cash flows from financing activities in the Condensed Consolidated Statements of Cash Flows. The remaining $0.3 million was deemed to be an amount in excess of the fair value of the preferred stock and was recorded within Operating expenses in the Condensed Consolidated Statements of Operations and Cash flows from operating activities in the Condensed Consolidated Statements of Cash Flows.

- Definition

The entire disclosure for equity.

+ References

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+ Details

REVENUES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
REVENUES - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Capitalized costs, amortization	$ 0.2	$ 0.2
Prepaid expenses and other current assets
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Capitalized costs	0.6		$ 0.6
Other noncurrent assets
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Capitalized costs	$ 2.8		$ 2.8

DEBT AND OTHER FINANCING ARRANGEMENTS - Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Debt Instrument [Line Items]
Total interest expense	$ 1,107	$ 477
Line of Credit \| JP Morgan Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Total interest expense	925	278
Other obligations
Debt Instrument [Line Items]
Other interest expense	$ 182	$ 199

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

RELATED PARTY TRANSACTIONS	3 Months Ended
RELATED PARTY TRANSACTIONS	Sep. 30, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONSA member of our Board of Directors serves as a strategic advisor to a consulting firm that we utilize for payments analytics and advisory services. These services are utilized by the Company to reduce the cost of our interchange and other processing fees charged by payment processors and credit card networks. As consideration for the services, we pay the consulting firm a success fee based on the savings realized by the Company, and a recurring monthly subscription fee for the analytical services. The total expense recognized within Cost of subscription and transaction fees for the three months ended September 30, 2023 and 2022 for these arrangements was $0.1 million.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

DEBT AND OTHER FINANCING ARRANGEMENTS (Tables)

3 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Schedule of Long-Term Debt and Other Financing Arrangements

The Company's debt and other financing arrangements as of September 30, 2023 and June 30, 2023 consisted of the following:


	As of September 30,		As of June 30,
($ in thousands)	2023		2023

JPMorgan Credit Facility*	38,375		38,563
Other obligations	44		50
Less: unamortized issuance costs and debt discount	(164)		(183)
Total	38,255		38,430
Less: debt and other financing arrangements, current	(977)		(882)
Debt and other financing arrangements, noncurrent	$	37,278	$	37,548

* See discussion below on amendment to the JPMorgan Credit Facility.

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


	Three months ended
	September 30,
($ in thousands)	2023		2022
JPMorgan Credit Facility*	925		278
Other interest expense	182		199
Total interest expense	$	1,107	$	477

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 September 30, 2023, were as follows:


2024	$	765
2025	1,333
2026	36,321
2027	—
Principal amounts payable	38,419
Unamortized issuance costs	(164)
Total outstanding debt	$	38,255

- 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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
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-Paragraph 69B
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+ Details

ACQUISITIONS - Summary of Total Consideration Paid for Acquisition (Details) - USD ($) $ in Thousands	1 Months Ended
	Aug. 31, 2021	Sep. 30, 2023	Jun. 30, 2023
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Goodwill	$ 2,700	$ 92,380	$ 92,005
Yoke
Business Combination, Consideration Transferred [Abstract]
Closing cash consideration	2,966
Contingent consideration arrangement	1,000
Fair value of total consideration transferred	3,966
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Total net assets acquired	21
Identifiable intangible assets	1,235
Total identifiable net assets	1,256
Goodwill	$ 2,710

ACQUISITIONS - Summary of Purchase Price Consideration (Details) - Three Square Market, Inc. $ in Thousands	Dec. 01, 2022 USD ($)
Business Acquisition [Line Items]
Closing cash consideration	$ 36,605
Fair value of total consideration transferred	41,111
Common Stock
Business Acquisition [Line Items]
Stock consideration	$ 4,506

INCOME TAXES	3 Months Ended
INCOME TAXES	Sep. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESFor the three months ended September 30, 2023, the Company recorded an income tax provision of $0.1 million. As of September 30, 2023, the Company reviewed the existing deferred tax assets and continues to record a full valuation against its deferred tax assets. However, given the Company’s current earnings and anticipated future earnings, the Company believes that there is a reasonable possibility that within the next 12 months, sufficient positive evidence may become available to allow the Company to reach a conclusion that a significant portion of the valuation allowance will no longer be needed. Release of the valuation allowance would result in the recognition of certain deferred tax assets and a decrease to income tax expense for the period the release is recorded. However, the exact timing and amount of the valuation allowance release are subject to change on the basis of the level of profitability that the Company is able to actually achieve. The income tax provision primarily relates to state income and franchise taxes and deferred taxes related to indefinite lived intangibles. As of September 30, 2023, the Company had a total unrecognized income tax benefit of $0.7 million. The provision is based upon actual income before income taxes for the three months ended September 30, 2023, as this provides a more reliable estimate of the income tax provision than an estimated annual effective income tax rate.For the three months ended September 30, 2022, the Company recorded an income tax provision of $26 thousand. As of September 30, 2022, the Company reviewed the existing deferred tax assets and continues to record a full valuation against its deferred tax assets. The income tax provisions primarily relate to the Company's uncertain tax positions, as well as state income and franchise taxes. As of September 30, 2022, the Company had a total unrecognized income tax benefit of $0.6 million. The provision is based upon actual loss before income taxes for the three months ended September 30, 2022, as the use of an estimated annual effective income tax rate does not provide a reliable estimate of the income tax provision.

- 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
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

FINANCE RECEIVABLES (Tables)

3 Months Ended

Sep. 30, 2023

Receivables [Abstract]

Schedule of Finance Receivables

As of September 30, 2023 and June 30, 2023, finance receivables consist of the following:


($ in thousands)	September 30, 2023		June 30, 2023
Current finance receivables, net	$	6,439	$	6,668
Finance receivables due after one year, net	12,362		13,307
Total finance receivables, net of allowance of $2,149 and $2,098, respectively	$	18,801	$	19,975

Schedule of Credit Quality Indicators

At September 30, 2023, 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	$	4,142	$	8,970	$	3,080	$	1,084	$	723	$	27	$	18,026
30 days and under	19		129		85		32		35		32		332
31-60 days	14		107		35		19		30		38		243
61-90 days	9		99		25		7		28		38		206
Greater than 90 days	29		948		219		252		140		555		2,143
Total finance receivables	$	4,213	$	10,253	$	3,444	$	1,394	$	956	$	690	$	20,950

At June 30, 2023, 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	$	6,595	$	6,505	$	3,304	$	1,306	$	846	$	829	$	19,385
30 days and under	66		73		69		52		22		68		350
31-60 days	53		40		32		42		19		71		257
61-90 days	60		52		26		32		16		71		257
Greater than 90 days	155		132		197		233		271		836		1,824
Total finance receivables	$	6,929	$	6,802	$	3,628	$	1,665	$	1,174	$	1,875	$	22,073

Financing Receivable, Allowance for Credit Loss

The following table represents a rollforward of the allowance for finance receivables for the three months ending September 30, 2023 and 2022:


	Three months ended September 30,
($ in thousands)	2023		2022

Balance, beginning of period	$	2,098	$	760
Provision for expected losses	51		392
Write-offs	—		—
Balance, end of period	$	2,149	$	1,152

Schedule of Cash to be Collected on Performing Financing Receivable

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


($ in thousands)
2023 (remaining 3 months)	$	6,183
2024	6,659
2025	5,153
2026	3,324
2027	1,351
Thereafter	89
Total amounts to be collected	22,759
Less: interest	(1,809)
Less: allowance for receivables	(2,149)
Total finance receivables	$	18,801

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands		3 Months Ended
	Jul. 01, 2023	Sep. 30, 2023	Sep. 30, 2022
Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities		$ 604	$ 546
Non-cash activity:
Lease assets obtained in exchange for new operating lease liabilities	$ 1,800	$ 1,788	$ 0

LEASES (Tables)

3 Months Ended

Sep. 30, 2023

Leases [Abstract]

Assets and Liabilities

The following table provides supplemental balance sheet information related to the Company's operating leases:


($ in thousands)	Balance Sheet Classification	As of September 30, 2023		As of June 30, 2023

Assets:	Operating lease right-of-use assets	$	3,963	$	2,575

Liabilities:
Current	Accrued expenses	$	1,015	$	1,266
Long-term	Operating lease liabilities, non-current	4,153		2,504
Total lease liabilities		$	5,168	$	3,770

Lease Costs

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


($ in thousands)	Three months ended September 30, 2023		Three months ended September 30, 2022

Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	604	$	546

Non-cash activity:
Lease assets obtained in exchange for new operating lease liabilities	$	1,788	$	—

Maturities of Lease Liabilities, Operating Leases

Maturities of lease liabilities by fiscal year for our leases as of September 30, 2023 are as follows:


($ in thousands)	Operating Leases
Remainder of 2024	$	1,007
2025	1,604
2026	1,576
2027	952
2028	506
Thereafter	$	564
Total lease payments	$	6,209
Less: Imputed interest	(1,041)
Present value of lease liabilities	$	5,168

Schedule of Property and Equipment Used for the Operating Lease Rental Program

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


($ in thousands)	September 30, 2023		June 30, 2023
Cost	$	29,019	28,398
Accumulated depreciation	(23,562)		(23,221)
Net	$	5,457	$	5,177

ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Payables and Accruals [Abstract]
Sales tax reserve	$ 14,344	$ 13,597
Accrued compensation and related sales commissions	1,634	4,069
Operating lease liabilities, current	1,015	1,266
Accrued professional fees	4,094	4,196
Accrued taxes and filing fees payable	1,835	1,944
Other accrued expenses	1,467	762
Consideration withheld in escrow for the 32M acquisition	442	442
Total accrued expenses	$ 24,831	$ 26,276

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)	3 Months Ended
	Sep. 30, 2023 segment
Accounting Policies [Abstract]
Number of operating segments	1

REVENUES - Schedule of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 62,683	$ 57,782
Subscription and transaction fees
Disaggregation of Revenue [Line Items]
Revenue	55,135	47,075
Transaction fees
Disaggregation of Revenue [Line Items]
Revenue	37,030	31,295
Subscription fees
Disaggregation of Revenue [Line Items]
Revenue	18,105	15,780
Equipment sales
Disaggregation of Revenue [Line Items]
Revenue	$ 7,548	$ 10,707

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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+ Details

GOODWILL AND INTANGIBLE ASSETS - Summary of Amortizable Intangible Asset (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Aug. 31, 2021
Intangible assets:
Gross	$ 47,063	$ 47,063
Accumulated Amortization	(20,827)	(19,251)
Net	26,236	27,812
Goodwill [Abstract]
Gross	92,380	92,005
Net	92,380	92,005	$ 2,700
Brand and tradenames
Intangible assets:
Gross	2,161	2,161
Accumulated Amortization	(1,517)	(1,414)
Net	$ 644	$ 747
Brand and tradenames \| Minimum
Intangible assets:
Amortization Period	1 year	1 year
Brand and tradenames \| Maximum
Intangible assets:
Amortization Period	7 years	7 years
Developed technology
Intangible assets:
Gross	$ 20,188	$ 20,188
Accumulated Amortization	(11,989)	(11,066)
Net	$ 8,199	$ 9,122
Developed technology \| Minimum
Intangible assets:
Amortization Period	5 years	5 years
Developed technology \| Maximum
Intangible assets:
Amortization Period	6 years	6 years
Customer relationships
Intangible assets:
Gross	$ 24,714	$ 24,714
Accumulated Amortization	(7,321)	(6,771)
Net	$ 17,393	$ 17,943
Customer relationships \| Minimum
Intangible assets:
Amortization Period	5 years	5 years
Customer relationships \| Maximum
Intangible assets:
Amortization Period	18 years	18 years

LEASES - Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Assets:
Operating lease right-of-use assets	$ 3,963	$ 2,575
Liabilities:
Operating lease liabilities, accrued expenses	$ 1,015	$ 1,266
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current
Operating lease liabilities, non-current	$ 4,153	$ 2,504
Total lease liabilities	$ 5,168	$ 3,770

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

LEASES - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Operating Leases
Remainder of 2024	$ 1,007
2025	1,604
2026	1,576
2027	952
2028	506
Thereafter	564
Total lease payments	6,209
Less: Imputed interest	(1,041)
Present value of lease liabilities	$ 5,168	$ 3,770

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Revenue	$ 62,683	$ 57,782
Cost of sales	38,355	43,620
Gross profit	24,328	14,162
Operating expenses:
Sales and marketing	4,142	2,525
Technology and product development	4,168	6,865
General and administrative	10,438	11,578
Investigation, proxy solicitation and restatement expenses, net of insurance recoveries	0	397
Integration and acquisition expenses	78	0
Depreciation and amortization	2,747	1,315
Total operating expenses	21,573	22,680
Operating income (loss)	2,755	(8,518)
Other income (expense):
Interest income from leases	517	567
Interest expense	(1,107)	(477)
Other expense	(77)	(120)
Total other expense	(667)	(30)
Income (loss) before income taxes	2,088	(8,548)
Provision for income taxes	(81)	(26)
Net income (loss)	2,007	(8,574)
Preferred dividends	(289)	(334)
Net income (loss) applicable to common shares	$ 1,718	$ (8,908)
Net earnings (loss) per common share
Basic (in dollars per share)	$ 0.02	$ (0.13)
Diluted (in dollars per share)	$ 0.02	$ (0.13)
Weighted average number of common shares outstanding used to compute net earnings (loss) per share applicable to common shares
Basic (in shares)	72,717,965	71,207,750
Diluted (in shares)	74,305,512	71,207,750
Subscription and transaction fees
Revenue	$ 55,135	$ 47,075
Cost of sales	31,728	30,370
Equipment sales
Revenue	7,548	10,707
Cost of sales	$ 6,627	$ 13,250

FINANCE RECEIVABLES - Schedule by Year of Origination (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	$ 4,213	$ 6,929
Between 1 and 2 Years Ago	10,253	6,802
Between 2 and 3 Years Ago	3,444	3,628
Between 3 and 4 Years Ago	1,394	1,665
Between 4 and 5 Years Ago	956	1,174
More than 5 Years Ago	690	1,875
Total	20,950	22,073
Current
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	4,142	6,595
Between 1 and 2 Years Ago	8,970	6,505
Between 2 and 3 Years Ago	3,080	3,304
Between 3 and 4 Years Ago	1,084	1,306
Between 4 and 5 Years Ago	723	846
More than 5 Years Ago	27	829
Total	18,026	19,385
30 days and under
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	19	66
Between 1 and 2 Years Ago	129	73
Between 2 and 3 Years Ago	85	69
Between 3 and 4 Years Ago	32	52
Between 4 and 5 Years Ago	35	22
More than 5 Years Ago	32	68
Total	332	350
31-60 days
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	14	53
Between 1 and 2 Years Ago	107	40
Between 2 and 3 Years Ago	35	32
Between 3 and 4 Years Ago	19	42
Between 4 and 5 Years Ago	30	19
More than 5 Years Ago	38	71
Total	243	257
61-90 days
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	9	60
Between 1 and 2 Years Ago	99	52
Between 2 and 3 Years Ago	25	26
Between 3 and 4 Years Ago	7	32
Between 4 and 5 Years Ago	28	16
More than 5 Years Ago	38	71
Total	206	257
Greater than 90 days
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	29	155
Between 1 and 2 Years Ago	948	132
Between 2 and 3 Years Ago	219	197
Between 3 and 4 Years Ago	252	233
Between 4 and 5 Years Ago	140	271
More than 5 Years Ago	555	836
Total	$ 2,143	$ 1,824

GOODWILL AND INTANGIBLES

3 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLES

Intangible asset balances and goodwill consisted of the following:


	As of September 30, 2023
($ in thousands)	Gross		Accumulated Amortization		Net		Amortization Period
Intangible assets:
Brand and tradenames	$	2,161	$	(1,517)	$	644	1 - 7 years
Developed technology	20,188		(11,989)		8,199		5 - 6 years
Customer relationships	24,714		(7,321)		17,393		5 - 18 years
Total intangible assets	$	47,063	$	(20,827)	$	26,236

Goodwill	92,380		—		92,380		Indefinite


	As of June 30, 2023
($ in thousands)	Gross		Accumulated Amortization		Net		Amortization Period
Intangible assets:
Brand and tradenames	2,161		(1,414)		747		1 - 7 years
Developed technology	20,188		(11,066)		9,122		5 - 6 years
Customer relationships	24,714		(6,771)		17,943		5 - 18 years
Total intangible assets	$	47,063	$	(19,251)	$	27,812

Goodwill	92,005		—		92,005		Indefinite

During the three months ended September 30, 2023 and September 30, 2022, the Company recognized $1.6 million and $0.8 million, respectively, in amortization expense related to intangible assets. The Company performs an annual goodwill impairment test on April 1 and more frequently if events and circumstances indicate that the asset might be impaired. The Company has determined that there is one single reporting unit for purposes of testing goodwill for impairment. During the three months ended September 30, 2023 and September 30, 2022, the Company did not recognize any impairment charges related to goodwill.

EARNINGS (LOSS) PER SHARE CALCULATION (Tables)

3 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Loss per Share

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


	Three months ended September 30,
($ in thousands, except per share data)	2023		2022

Numerator for basic and diluted loss per share
Net income (loss)	$	2,007	$	(8,574)
Preferred dividends	(289)		(334)
Net income (loss) applicable to common shareholders	1,718		(8,908)

Denominator for basic earnings (loss) per share - Weighted average shares outstanding	72,717,965		71,207,750
Effect of dilutive potential common shares	1,587,547		—
Denominator for diluted earnings (loss) per share - Adjusted weighted average shares outstanding	74,305,512		71,207,750

Basic earnings (loss) per share	$	0.02	$	(0.13)
Diluted earnings (loss) per share	$	0.02	$	(0.13)

STOCK-BASED COMPENSATION - Schedule of Fair Value of Options (Details) - Stock options - $ / shares	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum expected volatility (percent)	61.30%	74.60%
Maximum expected volatility (percent)	69.70%	75.10%
Weighted average expected life (years)		4 years 6 months
Dividend yield (percent)	0.00%	0.00%
Minimum risk-free interest rate (percent)	4.20%	2.70%
Maximum risk-free interest rate (percent)	4.30%	3.20%
Number of options granted (in shares)	110,000	600,000
Weighted average exercise price (in dollars per share)	$ 7.00	$ 6.51
Weighted average grant date fair value (in dollars per share)	$ 4.35	$ 3.91
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average expected life (years)	4 years 2 months 12 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average expected life (years)	4 years 6 months

EARNINGS (LOSS) PER SHARE CALCULATION - Calculation of Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Numerator for basic and diluted loss per share
Net income (loss)	$ 2,007	$ (8,574)
Preferred dividends	(289)	(334)
Net income (loss) applicable to common shares	$ 1,718	$ (8,908)
Denominator for basic loss per share - Weighted average shares outstanding (in shares)	72,717,965	71,207,750
Effect of dilutive potential common shares (in shares)	1,587,547	0
Denominator for diluted loss per share - Adjusted weighted average shares outstanding (in shares)	74,305,512	71,207,750
Basic earnings (loss) per share (in dollars per share)	$ 0.02	$ (0.13)
Diluted earnings (loss) per share (in dollars per share)	$ 0.02	$ (0.13)

- 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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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-11

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

+ Details

DEBT AND OTHER FINANCING ARRANGEMENTS - Maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Debt Disclosure [Abstract]
2024	$ 765
2025	1,333
2026	36,321
2027	0
Long-term debt	38,419
Unamortized issuance costs	(164)	$ (183)
Total	$ 38,255	$ 38,430

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details