0001628280-24-040037 | 10-K | XBRL Viewer

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STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Based Compensation Plans

The Company has three active stock-based compensation plans at June 30, 2024 as shown in the table below:

Date Approved

Name of Plan

Type of Plan

Authorized
Shares

June 2014

2014 Stock Option Incentive Plan

Stock options

750,000

June 2015

2015 Equity Incentive Plan

Stock & stock options

1,250,000

April 2018

2018 Equity Incentive Plan

Stock & stock options

10,000,000

12,000,000

Schedule of Common Stock for Future Issuance

As of June 30, 2024, the Company had reserved shares of Common Stock for future issuance for the following:


Common Stock						Reserved Shares
Conversions of Preferred Stock and cumulative Preferred Stock dividends						95,558
Issuance of shares to former executive upon the occurrence of a Cantaloupe transaction (1)						140,000
Total shares reserved for future issuance						235,558

(1)Represents 140,000 shares issuable to our former executive upon the occurrence of a "USA Transaction" as such term is defined in the stock agreement.

As of June 30, 2024, the Company had the following shares available for issuance under the respective incentive plans:


Incentive Plan						Available Options
Issuance under 2014 Stock Option Incentive Plan						15,687
Issuance under 2015 Equity Incentive Plan						369,157
Issuance under 2018 Equity Incentive Plan						4,170,267
Total options available for future issuance						4,555,111

Schedule of Stock Option Granted Weighted Average Assumptions

The fair value of options granted during the years ended June 30, 2024, 2023, and 2022 was determined using the following assumptions:


	For the year ended June 30,
	2024	2023	2022

Expected volatility	52.6 - 69.7%	74.6 - 77.6%	73.2 - 74.6%
Expected life (years)	4.2 - 4.5	4.4 - 4.6	4.5 - 4.6
Expected dividends	0.0%	0.0%	0.0%
Risk-free interest rate	4.0 - 4.4%	2.7 - 4.1%	1.0 - 2.9%

Schedule of Information Related to Outstanding Options

The following tables provide information about outstanding options for the years ended June 30, 2024, 2023, and 2022:


	For the year ended June 30, 2024
	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding options, beginning of year	3,873,632	$	6.35	5.1	$	7,595
Granted	175,000	$	6.92
Exercised	(18,334)	$	6.06		$	—
Forfeited	(29,799)	$	6.90
Expired	(28,665)	$	4.40
Outstanding options, end of year	3,971,834	$	6.63	4.3	$	3,582
Exercisable options, end of year	2,602,259	$	7.28	3.8	$	1,085


	For the year ended June 30, 2023
	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding options, beginning of year	3,529,833	$	7.41	4.5	$	194
Granted	1,720,000	$	4.61
Exercised	—	$	—		$	—
Forfeited	(1,376,201)	$	6.86
Expired	—	$	—
Outstanding options, end of year	3,873,632	$	6.35	5.1	$	7,595
Exercisable options, end of year	1,341,466	$	7.26	3.9	$	1,536


	For the year ended June 30, 2022
	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding options, beginning of year	2,952,092	$	6.97	5.6	$	14,419
Granted	904,500	$	8.86
Exercised	(121,248)	$	6.30		$	(53)
Forfeited	(205,511)	$	8.09
Expired	—	$	—
Outstanding options, end of year	3,529,833	$	7.41	4.5	$	194
Exercisable options, end of year	1,538,302	$	6.79	4.5	$	183

Schedule of Nonvested Share Activity

A summary of the status of the Company’s nonvested common shares and RSUs as of June 30, 2024, 2023, and 2022, and changes during the years then ended is presented below:


	Shares	Weighted-Average Grant-Date Fair Value
Nonvested at June 30, 2021	137,846	$	9.57
Granted	507,729	$	7.33
Vested	(101,515)	$	10.34
Forfeited	(95,152)	$	8.89
Nonvested at June 30, 2022	448,908	$	7.00
Granted	346,346	$	5.41
Vested	(274,011)	$	5.96
Forfeited	(97,342)	$	8.27
Nonvested at June 30, 2023	423,901	$	6.08
Granted	439,363	$	6.72
Vested	(311,093)	$	6.38
Forfeited	(4,207)	$	7.58
Nonvested at June 30, 2024	547,964	$	6.41

Schedule of Stock-based Compensation Expense

A summary of the Company's stock-based compensation expense recognized during the years ended June 30, 2024, 2023, and 2022 is as follows:


($ in thousands)	For the year ended June 30,
Award type	2024		2023		2022
Stock options	$	2,992	$	2,967	$	4,424
Stock grants	2,117		1,770		1,824
Total stock-based compensation expense	$	5,109	$	4,737	$	6,248

A summary of the Company's unrecognized stock-based compensation expense as of June 30, 2024 is as follows:


	As of June 30, 2024
Award type	Unrecognized Expense (in thousands)		Weighted Average Recognition Period (in years)
Stock options	$	1,566	1.3
Stock grants	$	2,225	1.5

RETIREMENT PLAN (Details) - USD ($) $ in Millions	12 Months Ended
RETIREMENT PLAN (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Retirement Benefits [Abstract]
Maximum percent of voluntary contribution	100.00%
Defined contribution plan employer matching contribution percent first slab	100.00%	100.00%	100.00%
Percentage of eligible compensation contributed by employees first slab	3.00%	3.00%	3.00%
Percentage of safe harbor matching contributions for next 2% employee compensation	50.00%	50.00%	50.00%
Percentage of employee compensation eligible for 50% of next safe harbor matching contributions	2.00%	2.00%	2.00%
Company's safe harbor contribution	$ 0.9	$ 0.8	$ 0.7

SHAREHOLDER'S EQUITY AND PREFERRED STOCK

12 Months Ended

Jun. 30, 2024

Equity [Abstract]

SHAREHOLDER'S EQUITY AND PREFERRED STOCK

Common Stock

The Company has 640.0 million shares of common stock, no par value, authorized for issuance. Each holder of common stock is entitled to one vote for each share of common stock held of record by such holder on all matters on which stockholders are entitled to vote, including the election of directors. The Company had approximately 72.9 million and 72.7 million shares of common stock issued and outstanding, respectively, as of June 30, 2024 and June 30, 2023.

Common Stock Dividends

The holders of the common stock are entitled to receive dividends as the Board of Directors of the Company may from time to time declare out of funds legally available for payment of dividends. Through the date hereof, no cash dividends have been declared on the Company’s common stock or preferred stock. No dividend may be paid on the common stock until all accumulated and unpaid dividends on the preferred stock have been paid.

Convertible Preferred Stock

The Company has 1.8 million of preferred stock authorized for issuance which may be issued from time to time in one or more series, each series with such rights, preferences or restrictions as determined by the Board of Directors. As of June 30, 2024, 900,000 preferred shares have been designated as Series A Convertible Preferred Stock, no par value. The other 900,000 preferred shared shares have not been designated. Each share of Series A Convertible Preferred Stock is convertible into 0.1988

of a share of Common Stock and each share of Series A Convertible Preferred Stock is entitled to 0.1988 of a vote on all matters on which the holders of Common Stock are entitled to vote. Series A Convertible Preferred Stock provides for an annual cumulative dividend of $1.50 per share, payable when, and if declared by the Board of Directors, to the shareholders of record in equal parts on February 1 and August 1 of each year. Any and all accumulated and unpaid cash dividends on the Series A Convertible Preferred Stock must be declared and paid prior to the declaration and payment of any dividends on the Common Stock.

During the fiscal year 2023, 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 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 Consolidated Statements of Operations and Cash flows from operating activities in the Consolidated Statements of Cash Flows.

The Series A Convertible Preferred Stock may be called for redemption at the option of the Board of Directors for a price of $11.00 per share plus payment of all accrued and unpaid dividends. No such redemption has occurred as of June 30, 2024. In the event of any liquidation as defined in the Company’s Articles of Incorporation, the holders of shares of Series A Convertible Preferred Stock issued shall be entitled to receive $10.00 for each outstanding share plus all cumulative unpaid dividends. If funds are insufficient for this distribution, the assets available will be distributed ratably among the preferred shareholders. The Series A Convertible Preferred Stock liquidation preference as of June 30, 2024 and 2023 is as follows:


	Year ended June 30,
($ in thousands)	2024		2023
For shares outstanding at $10.00 per share	$	3,858	$	3,858
Cumulative undeclared and unpaid dividends	18,864		18,286
	$	22,722	$	22,144

The Company has determined that its Series A Convertible Preferred Stock is contingently redeemable due to the existence of deemed liquidation provisions contained in its certificate of incorporation, and therefore classifies its convertible preferred stock outside of permanent equity. The Company has not made any adjustments to the carrying value of the Series A Convertible Preferred Stock to reflect the liquidation value of the shares inclusive of the cumulative undeclared and unpaid dividends because the Company has determined that a deemed liquidation event is not probable of occurring. Cumulative undeclared and unpaid dividends are convertible into common shares at $1,000 per common share at the option of the shareholder. During the years ended June 30, 2024, 2023 and 2022, no shares of Preferred Stock nor cumulative preferred dividends were converted into shares of common stock.

- Definition

The entire disclosure for equity.

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+ Details

DEBT AND OTHER FINANCING ARRANGEMENTS

12 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

DEBT AND OTHER FINANCING ARRANGEMENTS

The Company's debt and other financing arrangements as of June 30, 2024 and 2023 consisted of the following:


	As of June 30,
($ in thousands)	2024		2023

JPMorgan Credit Facility (1)	$	37,625	$	38,563
Other obligations	34		50
Less: unamortized issuance costs and debt discount	(109)		(183)
Total	37,550		38,430
Less: debt and other financing arrangements, current	(1,266)		(882)
Debt and other financing arrangements, non-current	$	36,284	$	37,548

(1) See discussion below on the JPMorgan Credit Facility.

JP Morgan Credit Facility amended and restated March 17, 2022 and December 1, 2022

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 “JPMorgan Credit Facility”), and fully replaced the previous 2021 JPMorgan credit facility.

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 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 10 - Acquisitions. No issuance costs were capitalized in connection with this amendment.

The JPMorgan Credit Facility matures on March 16, 2026. Interest on the 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 JPMorgan Credit Facility has a commitment fee of 0.50% per annum on the unused portion. As of June 30, 2024 and 2023, the total applicable interest rate for the Amended Secured Term Facility was 9.0% and 9.0%, respectively.

The 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 Amended Secured Term Facility was accounted for as a modification of the 2021 term facility. The previously unamortized debt issuance costs remain capitalized, the new fees paid to the creditor were capitalized, and allocated third-party costs incurred allocated to the term facility were charged to expense during fiscal 2023. We also evaluated that the borrowing capacity of the Amended Revolving Facility is greater than the borrowing capacity of the 2021 JPMorgan Revolving Facility. The previously unamortized debt issuance costs remain capitalized, the new fees paid to the creditor and allocated third-party costs were capitalized.

The Company was in compliance with its financial covenants as of June 30, 2024.

The expected maturities associated with the Company’s outstanding debt and other financing arrangements as of June 30, 2024, were as follows:


($ in thousands)	Amount
2025	$	1,333
2026	36,326
Principal amounts payable	37,659
Unamortized issuance costs	(109)
Total outstanding debt	$	37,550

- 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.

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-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

SHAREHOLDER'S EQUITY AND PREFERRED STOCK (Tables)

12 Months Ended

Jun. 30, 2024

Equity [Abstract]

Schedule of Preferred Stock

The Series A Convertible Preferred Stock liquidation preference as of June 30, 2024 and 2023 is as follows:


	Year ended June 30,
($ in thousands)	2024		2023
For shares outstanding at $10.00 per share	$	3,858	$	3,858
Cumulative undeclared and unpaid dividends	18,864		18,286
	$	22,722	$	22,144

REVENUE - Operating Lease, Lease Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Operating leases	$ 8,246	$ 7,567	$ 7,107
Equipment sales	2,882	6,464	8,010
Total lease revenues	$ 11,128	$ 14,031	$ 15,117
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenues:	Revenues:	Revenues:

DEBT AND OTHER FINANCING ARRANGEMENTS - Maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Debt Disclosure [Abstract]
2025	$ 1,333
2026	36,326
Principal amounts payable	37,659
Unamortized issuance costs	(109)	$ (183)
Total outstanding debt	$ 37,550	$ 38,430

- Definition

Amount of unamortized debt discount (premium) and debt issuance costs.

+ References + Details

- Definition

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

+ References + Details

FINANCE RECEIVABLES

12 Months Ended

Jun. 30, 2024

Receivables [Abstract]

FINANCE RECEIVABLES

The Company’s finance receivables consist of financed devices under the QuickStart program and devices contractually associated with the Seed platform. Predominately all of the Company’s finance receivables agreements are classified as non-cancellable sixty-month sales-type leases. As of June 30, 2024 and 2023, finance receivables consist of the following:


	As of June 30,
($ in thousands)	2024		2023

Current finance receivables, net	$	6,391	$	6,668
Finance receivables due after one year, net	10,036		13,307
Total finance receivables, net of allowance of $1,934 and $2,098, respectively	$	16,427	$	19,975

The Company collects 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.

At June 30, 2024, 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		$	2,199	$	5,135	$	4,668	$	1,961	$	456	$	324	$	14,743
30 days and under		13		67		80		85		56		42		343
31 - 60 days		8		64		58		49		47		38		264
61 - 90 days		8		62		48		32		36		38		224
Greater than 90 days		35		387		625		208		297		1,235		2,787
Total finance receivables		$	2,263	$	5,715	$	5,479	$	2,335	$	892	$	1,677	$	18,361

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 years ending June 30, 2024 and 2023:


	Year ended June 30,
($ in thousands)	2024		2023

Balance, beginning of year	$	2,098	$	760

Provision for expected losses	(164)		1,626
Write-offs	—		(288)
Balance, end of year	$	1,934	$	2,098

Cash to be collected on our performing finance receivables due for each of the fiscal years after June 30, 2024 are as follows:


($ in thousands)

2025	$	7,274
2026	5,795
2027	3,908
2028	1,871
2029	596
Thereafter	30
Total amounts to be collected	19,474
Less: interest	(1,113)
Less: allowance for expected credit losses	(1,934)
Total finance receivables	$	16,427

Equipment sales, Cost of equipment sales, and Interest income, associated with equipment under sales type leases and are included in each respective line of the Consolidated Statement of Operations for the year ended June 30, 2024:


($ in thousands)
Equipment sales	$	2,882
Cost of equipment sales	2,861
Interest income	1,910

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Revenues:	$ 268,596	$ 243,641	$ 205,202
Costs of sales (exclusive of certain depreciation and amortization):	165,945	162,405	141,007
Operating expenses:
Sales and marketing	20,310	12,427	8,908
Technology and product development	16,532	20,726	21,877
General and administrative	41,395	36,926	30,519
Investigation, proxy solicitation and restatement expenses, net of insurance recoveries	(1,522)	(362)	1,196
Integration and acquisition expenses	1,197	3,141	0
Depreciation and amortization	10,570	7,618	4,352
Total operating expenses	88,482	80,476	66,852
Operating income (loss)	14,169	760	(2,657)
Other income (expense):
Interest income	1,969	2,515	1,884
Interest expense	(2,934)	(2,326)	(524)
Other expense	(226)	(135)	(220)
Total other income (expense), net	(1,191)	54	1,140
Income (loss) before income taxes	12,978	814	(1,517)
Provision for income taxes	(985)	(181)	(186)
Net income (loss)	11,993	633	(1,703)
Preferred dividends	(578)	(623)	(668)
Net income (loss) applicable to common shares	$ 11,415	$ 10	$ (2,371)
Net earnings (loss) per common share
Basic (in USD per share)	$ 0.16	$ 0	$ (0.03)
Diluted (in USD per share)	$ 0.15	$ 0	$ (0.03)
Weighted average number of common shares outstanding used to compute net earnings (loss) per share applicable to common shares
Basic (in shares)	72,819,220	71,978,901	71,091,790
Diluted (in shares)	74,172,098	72,514,634	71,091,790
Subscription and transaction fees
Revenues:	$ 231,497	$ 200,223	$ 168,850
Costs of sales (exclusive of certain depreciation and amortization):	131,400	119,715	103,392
Equipment sales
Revenues:	37,099	43,418	36,352
Costs of sales (exclusive of certain depreciation and amortization):	$ 34,545	$ 42,690	$ 37,615

STOCK-BASED COMPENSATION - Unrecognized Stock-based Compensation Expense (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2024 USD ($)
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized expense	$ 1,566
Weighted average recognition period	1 year 3 months 18 days
Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized expense	$ 2,225
Weighted average recognition period	1 year 6 months

- 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/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (c)(1)(ii)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
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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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-Subparagraph (c)(2)(i)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (c)(2)(iii)(02)
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
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-Section 50
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of Benefit (Provision) for Income Taxes

The provision for income taxes for the years ended June 30, 2024, 2023 and 2022 is comprised of the following:


	Year ended June 30,
($ in thousands)	2024		2023		2022
Current:
Federal	$	(65)	$	—	$	—
State	(729)		(92)		(179)
Foreign	—		—		—
Total current	(794)		(92)		(179)
Deferred:
Federal	(248)		(62)		(18)
State	57		(27)		11
Foreign	—		—		—
Total deferred	(191)		(89)		(7)
Total income tax provision	$	(985)	$	(181)	$	(186)

Schedule of Income Tax Benefit in the Provision for Income Taxes

A reconciliation of the provision for income taxes for the years ended June 30, 2024, 2023 and 2022 to the indicated provision based on income (loss) before the provision for income taxes at the federal statutory rate of 21.0% for the fiscal years ended June 30, 2024, June 30, 2023, and June 30, 2022 is as follows:


	Year ended June 30,
($ in thousands)	2024		2023		2022
Tax at U.S Federal statutory rate	$	(2,725)	$	(171)	$	319
Effects of permanent differences
Stock compensation	$	24	$	(688)	$	(184)
Other permanent differences	$	(81)	$	(497)	$	(106)
State income taxes, net of federal benefit	$	(613)	$	(296)	$	(275)
Changes related to prior years	$	—	$	51	$	—
Changes related to state tax rates	$	—	$	(2,455)	$	—
Changes in valuation allowances	$	2,281	$	3,942	$	184
Statutory Rates Different from U.S.	$	183	$	—	$	—
Other	$	(54)	$	(67)	$	(124)
Total	$	(985)	$	(181)	$	(186)

Schedule of Deferred Tax Assets and Liabilities

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


	As of June 30,
($ in thousands)	2024		2023
Deferred tax assets:
Net operating loss carryforwards	$	37,621	$	42,614
Receivable credit losses	1,367		1,180
Inventory reserves	541		580
Sales returns and allowances	2,463		1,916
Sales tax reserves	1,876		2,824
Deferred research and development	5,750		2,856
Stock-based compensation	4,327		3,798
Lease liabilities	2,410		884
Other	346		190
	56,701		56,842
Deferred tax liabilities:
Intangibles	(3,502)		(3,689)
Property and equipment	(1,179)		(1,466)
Right-of-use assets	(1,954)		(586)
	(6,635)		(5,741)
Deferred tax assets, net	50,066		51,101
Valuation allowance	(50,532)		(51,376)
Deferred income taxes	$	(466)	$	(275)

Summary of Activity Related to Unrecognized Income Tax Benefits

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


	Year ended June 30,
($ in thousands)	2024		2023		2022
Balance at the beginning of the year	$	689	$	572	$	444
Gross increases and decreases related to current period tax positions	—		—		—
Gross increases and decreases related to prior period tax positions	110		117		128
Balance at the end of the year	$	799	$	689	$	572

Schedule of Pre-Tax Income (Loss)

The components of pre-tax income (loss) are as follows:


	Year ended June 30,
($ in thousands)	2024		2023		2022
U.S. income (loss)	$	16,217	$	996	$	(1,517)
Other income (loss)	(3,239)		(182)		—
Total income (loss)	$	12,978	$	814	$	(1,517)

REVENUE

12 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

REVENUE

Based on similar operational characteristics, the Company's revenue is disaggregated as follows:


	Year-ended June 30,
($ in thousands)	2024		2023		2022
Transaction fees	$	156,166	$	132,594	$	110,695
Subscription fees	75,331		67,629		58,155
Subscription and transaction fees	231,497		200,223		168,850
Equipment sales	37,099		43,418		36,352
Total revenues	$	268,596	$	243,641	$	205,202

A portion of the Company’s revenues relate to rental lease arrangements. The Company leases equipment to customers under the Cantaloupe One program which is accounted for as operating leases in accordance with ASC 842. Lease revenue is recognized on a straight-line basis over the term of the lease. As described in Note 4 - Finance Receivables, the Company leases equipment under the QuickStart program which is accounted for as sales-type finance leases in accordance with ASC 842. The Company's revenues earned under ASC Topic 842 are as follows:


	Year-ended June 30,
($ in thousands)	2024		2023		2022
Operating leases	$	8,246	$	7,567	$	7,107
Sales-type finance leases	2,882		6,464		8,010
Total lease revenues	$	11,128	$	14,031	$	15,117

Other than the revenues described above, all of the Company's revenues are earned under ASC 606.

The Company's revenue from international operations were $2.4 million and $0.5 million for the year ended June 30, 2024 and 2023, respectively. The Company had no revenue from international operations for the year ended June 30, 2022.

Contract Assets

Contract assets represents revenue earned from customers that is not yet billable to a customer, generally due to the timing of when equipment and services are delivered to customers on bundled contracts, or as a result of contracts costs as described below. Contract assets that will be billed within the next 12 months are included in Prepaid expenses and other current assets and all others are included in Other assets on the Consolidated Balance Sheets. Contract assets were $2.6 million, $0.6 million, and $0.0 million as of June 30, 2024, 2023, and 2022, respectively.

Contract Liabilities

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


	Year ended June 30,
($ in thousands)	2024		2023
Deferred revenue, beginning of the period	$	1,666	$	1,893
Deferred revenue, end of the period	1,726		1,666
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period	617		576

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

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 June 30, 2024:


($ in thousands)	Year ended June 30,
2025	5,938
2026	3,420
2027	575
Total	$	9,933

Contract Costs

At June 30, 2024 and 2023, the Company had net capitalized costs to obtain contracts of $0.9 million and $0.6 million included in Prepaid expenses and other current assets and $2.4 million and $2.8 million included in Other assets on the Consolidated Balance Sheets, respectively. None of these capitalized contract costs were impaired. During the years ended June 30, 2024 and 2023, amortization of capitalized contract costs was $1.0 million and $0.8 million, respectively. Amortization of

costs to obtain a contract are included within Sales and marketing expenses within the Consolidated Statements of Operations.

- 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
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
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+ Details

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

Goodwill and intangible asset balances consisted of the following:


	As of June 30, 2024						Weighted Average Useful Life (Years)
($ in thousands)	Gross		Accumulated Amortization		Net

Intangible assets:
Brand and trade names	$	2,361	$	(1,852)	$	509	1.6
Developed technology	20,062		(13,304)		6,758		3.6
Customer relationships	27,024		(9,665)		17,359		8.8
Total intangible assets	$	49,447	$	(24,821)	$	24,626	7.2

Goodwill	$	94,903	$	—	$	94,903	Indefinite


	As of June 30, 2023						Weighted Average Useful Life
($ in thousands)	Gross		Accumulated Amortization		Net

Intangible assets:
Brand and trade names	$	2,161	$	(1,414)	$	747	2.0
Developed technology	20,188		(11,066)		9,122		4.1
Customer relationships	24,714		(6,771)		17,943		10.1
Total intangible assets	$	47,063	$	(19,251)	$	27,812	7.9

Goodwill	$	92,005	$	—	$	92,005	Indefinite

For the years ended June 30, 2024, 2023 and 2022, amortization expense related to intangible assets was $5.6 million, $5.0 million and $3.3 million, respectively.

Estimated annual amortization expense for intangible assets is as follows:


($ in thousands)	Amount
2025	$	4,969
2026	4,771
2027	4,421
2028	2,571
2029	1,208
Thereafter	6,686
	$	24,626

STOCK-BASED COMPENSATION - Summary of Options Outstanding (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Number of Options
Outstanding options, beginning of period (in shares)	3,873,632	3,529,833	2,952,092
Granted (in shares)	175,000	1,720,000	904,500
Exercise (in shares)	(18,334)	0	(121,248)
Forfeited (in shares)	(29,799)	(1,376,201)	(205,511)
Expired (in shares)	(28,665)	0	0
Outstanding options, end of period (in shares)	3,971,834	3,873,632	3,529,833	2,952,092
Exercisable options, end of period (in shares)	2,602,259	1,341,466	1,538,302
Weighted Average Exercise Price
Outstanding options, beginning of period (in USD per share)	$ 6.35	$ 7.41	$ 6.97
Granted (in USD per share)	6.92	4.61	8.86
Exercised (in USD per share)	6.06	0	6.30
Forfeited (in USD per share)	6.90	6.86	8.09
Expired (in USD per share)	4.40	0	0
Outstanding options, end of period (in USD per share)	6.63	6.35	7.41	$ 6.97
Exercisable options, end of period (in USD per share)	$ 7.28	$ 7.26	$ 6.79
Weighted Average Remaining Contractual Term
Outstanding options	4 years 3 months 18 days	5 years 1 month 6 days	4 years 6 months	5 years 7 months 6 days
Exercisable options, end of year	3 years 9 months 18 days	3 years 10 months 24 days	4 years 6 months
Aggregate Intrinsic Value
Outstanding options, beginning balance	$ 7,595	$ 194	$ 14,419
Exercise	0	0	(53)
Outstanding options, ending balance	3,582	7,595	194	$ 14,419
Exercisable options, end of period	$ 1,085	$ 1,536	$ 183

FINANCE RECEIVABLES - Summary of Finance Receivables Fiscal Years (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Receivables [Abstract]
2025	$ 7,274
2026	5,795
2027	3,908
2028	1,871
2029	596
Thereafter	30
Total amounts to be collected	19,474
Less: interest	(1,113)
Less: allowance for expected credit losses	(1,934)	$ (2,098)	$ (760)
Total finance receivables	$ 16,427	$ 19,975

FINANCE RECEIVABLES - Sales-type Lease, Lease Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Equipment sales	$ 2,882	$ 6,464	$ 8,010
Equipment sales
Accounts, Notes, Loans and Financing Receivable [Line Items]
Equipment sales	2,882
Cost of equipment sales	2,861
Interest income	$ 1,910

INCOME TAXES - Unrecognized Tax Benefit Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Unrecognized Income Tax Benefits [Roll Forward]
Balance at the beginning of the year	$ 689	$ 572	$ 444
Gross increases and decreases related to current period tax positions	0	0	0
Gross increases and decreases related to prior period tax positions	110	117	128
Balance at the end of the year	$ 799	$ 689	$ 572

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Asset Balances

Goodwill and intangible asset balances consisted of the following:


	As of June 30, 2024						Weighted Average Useful Life (Years)
($ in thousands)	Gross		Accumulated Amortization		Net

Intangible assets:
Brand and trade names	$	2,361	$	(1,852)	$	509	1.6
Developed technology	20,062		(13,304)		6,758		3.6
Customer relationships	27,024		(9,665)		17,359		8.8
Total intangible assets	$	49,447	$	(24,821)	$	24,626	7.2

Goodwill	$	94,903	$	—	$	94,903	Indefinite


	As of June 30, 2023						Weighted Average Useful Life
($ in thousands)	Gross		Accumulated Amortization		Net

Intangible assets:
Brand and trade names	$	2,161	$	(1,414)	$	747	2.0
Developed technology	20,188		(11,066)		9,122		4.1
Customer relationships	24,714		(6,771)		17,943		10.1
Total intangible assets	$	47,063	$	(19,251)	$	27,812	7.9

Goodwill	$	92,005	$	—	$	92,005	Indefinite

Schedule of Estimated Annual Amortization Expense

Estimated annual amortization expense for intangible assets is as follows:


($ in thousands)	Amount
2025	$	4,969
2026	4,771
2027	4,421
2028	2,571
2029	1,208
Thereafter	6,686
	$	24,626

LEASES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
LEASES - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Feb. 01, 2024	May 31, 2023	Feb. 28, 2023	Dec. 31, 2022
Leases [Abstract]
Lease term				11 months	133 months		48 months
Operating lease extension period						73 months
Rental income, nonoperating	$ 0.8	$ 0.8	$ 0.6

ACCOUNTS RECEIVABLE - Schedule of Rollforward of Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 10,815	$ 9,328
Provision for expected losses	4,024	4,190
Write-offs	(1,397)	(2,703)
Balance, end of period	$ 13,442	$ 10,815

LEASES - Weighted-Average Remaining Lease Term and Weighted-Average Discount Rate (Details)	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Weighted-average remaining lease term, Operating leases	7 years 3 months 18 days	3 years 2 months 12 days
Weighted-average discount rate, Operating leases	8.20%	7.50%

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
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

FINANCE RECEIVABLES - Credit Risk Profile Based on Payment Activity (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	$ 2,263	$ 6,929
Between 1 and 2 Years Ago	5,715	6,802
Between 2 and 3 Years Ago	5,479	3,628
Between 3 and 4 Years Ago	2,335	1,665
Between 4 and 5 Years Ago	892	1,174
More than 5 Years Ago	1,677	1,875
Total finance receivables	18,361	22,073
Current
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	2,199	6,595
Between 1 and 2 Years Ago	5,135	6,505
Between 2 and 3 Years Ago	4,668	3,304
Between 3 and 4 Years Ago	1,961	1,306
Between 4 and 5 Years Ago	456	846
More than 5 Years Ago	324	829
Total finance receivables	14,743	19,385
30 days and under
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	13	66
Between 1 and 2 Years Ago	67	73
Between 2 and 3 Years Ago	80	69
Between 3 and 4 Years Ago	85	52
Between 4 and 5 Years Ago	56	22
More than 5 Years Ago	42	68
Total finance receivables	343	350
31 - 60 days
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	8	53
Between 1 and 2 Years Ago	64	40
Between 2 and 3 Years Ago	58	32
Between 3 and 4 Years Ago	49	42
Between 4 and 5 Years Ago	47	19
More than 5 Years Ago	38	71
Total finance receivables	264	257
61 - 90 days
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	8	60
Between 1 and 2 Years Ago	62	52
Between 2 and 3 Years Ago	48	26
Between 3 and 4 Years Ago	32	32
Between 4 and 5 Years Ago	36	16
More than 5 Years Ago	38	71
Total finance receivables	224	257
Greater than 90 days
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	35	155
Between 1 and 2 Years Ago	387	132
Between 2 and 3 Years Ago	625	197
Between 3 and 4 Years Ago	208	233
Between 4 and 5 Years Ago	297	271
More than 5 Years Ago	1,235	836
Total finance receivables	$ 2,787	$ 1,824

DEBT AND OTHER FINANCING ARRANGEMENTS (Tables)

12 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Debt and Other Financing Arrangements

The Company's debt and other financing arrangements as of June 30, 2024 and 2023 consisted of the following:


	As of June 30,
($ in thousands)	2024		2023

JPMorgan Credit Facility (1)	$	37,625	$	38,563
Other obligations	34		50
Less: unamortized issuance costs and debt discount	(109)		(183)
Total	37,550		38,430
Less: debt and other financing arrangements, current	(1,266)		(882)
Debt and other financing arrangements, non-current	$	36,284	$	37,548

(1) See discussion below on the JPMorgan Credit Facility.

Schedule of Maturities of Debt and Other Financing Arrangements

The expected maturities associated with the Company’s outstanding debt and other financing arrangements as of June 30, 2024, were as follows:


($ in thousands)	Amount
2025	$	1,333
2026	36,326
Principal amounts payable	37,659
Unamortized issuance costs	(109)
Total outstanding debt	$	37,550

- 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://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Jun. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION AND PREPARATION The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") on a going concern basis. In the opinion of management, all adjustments considered necessary for a fair presentation, consisting of normal recurring adjustments, have been included. The Company operates as one operating segment because its chief operating decision maker, who is the Chief Executive Officer, reviews its financial information on a consolidated basis for purposes of making decisions regarding allocating resources and assessing performance. The Company has operations in the United States, Mexico and the UK. The functional currencies of our foreign wholly-owned subsidiaries are the local currency. We translate the financial statements of these subsidiaries into U.S. dollars each reporting period for purposes of consolidation. Assets and liabilities are translated at the period-end currency exchange rates, certain equity accounts are translated at historical exchange rates and income and expense amounts are translated at average currency exchange rates in effect for the period. The effect of these translation adjustments are reported in Accumulated other comprehensive loss on the Consolidated Statements of Convertible Preferred Stock and Shareholders' Equity. Gains and losses on transactions denominated in currencies other than the functional currency are generally included in determining net income for the period. Foreign currency transaction gains and losses were not significant to the financial statements for the years ended June 30, 2024, 2023, and 2022. Consolidated Statements of Operations: Cost of Sales Below is a brief description of the various categories within cost of sales: •Cost of subscription and transaction fees: Cost of subscription and transaction fees consist of third-party transaction processing fees, interchange fees, and network service fees. Cost of subscription and transaction fees also includes depreciation expense associated with our Cantaloupe One rental equipment program. •Cost of equipment sales: Cost of equipment sales consist primarily of direct costs to acquire finished goods, or for certain products material to fabricate our equipment, as well as freight, taxes, and other inventory acquisition costs. Consolidated Statements of Operations: Operating expenses presentation Beginning in fiscal year 2023, the Company disaggregated General and administrative costs further by disclosing Integration and acquisition expenses separately. The updated presentation is intended to provide additional transparency to the readers of the financial statements and better align the Company’s financial performance with how management views and monitors business operations and makes strategic decisions. This presentation change did not impact total operating expenses, operating income (loss), net income (loss) or net income (loss) per common share. Below is a brief description of the various categories within operating expenses: •Sales and marketing: Sales and marketing expenses consist primarily of our sales and marketing team personnel costs. In addition, this category includes fees paid for advertising, trade shows and external consultants who assist in outreach initiatives designed to build brand awareness and showcase the value of our products and services to our opportunity markets. •Technology and product development: Technology and product development expenses consist primarily of our technology and product team personnel costs and fees paid to external consultants relating to innovating and maintaining our portfolio of products and services and strengthening our network environment and platform. These costs include but are not limited to engineering, platform and software development, fees for software licenses, contract labor and other technology and product related items that are not eligible for capitalization. •General, and administrative: General and administrative expenses consist primarily of our customer support, business operations, finance, legal, human resources and other administrative personnel costs and fees paid to external consultants for these respective departments. In addition, this category includes rent and occupancy costs and other miscellaneous costs incurred in the course of operating the business. •Investigation, proxy solicitation, and restatement expenses, net of insurance recoveries: In fiscal year 2019, the Audit Committee, with the assistance of independent legal and forensic accounting advisors, conducted an internal investigation of then-current and prior period matters relating to certain of the Company’s contractual arrangements, including the accounting treatment, financial reporting and internal controls related to such arrangements (the “2019 Investigation”). The Company and former officers incurred additional legal expenses for these periods offset by certain recoveries from insurance policy claims. •Integration and acquisition: Integration and acquisition expenses consist primarily of professional services fees including accounting, legal and investing banking advisory fees incurred in connection with acquisitions and post-acquisition integrations. See Note 10 - Acquisitions to the consolidated financial statements for further information. •Depreciation and amortization: Depreciation expense on our property and equipment, amortization of capitalized internal-use software development costs, and amortization expense on our intangible assets are included within the Depreciation and amortization caption in the Consolidated Statements of Operations. Depreciation on property and equipment used for rentals is included in Cost of subscription and transaction fees as described above. USE OF ESTIMATES The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, assumptions and judgments that affect the amounts reported in the consolidated financial statements and accompanying notes. The Company evaluates these estimates on an ongoing basis. Estimates, judgments, and assumptions in these consolidated financial statement include, but are not limited to, those related to revenue recognition, capitalization of internal-use software and cloud computing arrangements, fair value of acquired assets and liabilities including goodwill through purchase accounting, evaluation of goodwill and long-lived assets impairment, allowances for accounts and finance receivables, inventory reserves, loss contingencies, income taxes, and sales tax reserves. CASH AND CASH EQUIVALENTS Cash equivalents represent all highly liquid investments with original maturities of three months or less from time of purchase. Cash equivalents are comprised of money market funds. The Company maintains its cash in bank deposit accounts where accounts may exceed federally insured limits at times. The Company deems this credit risk not to be significant as cash is held at well-capitalized financial institutions. ACCOUNTS RECEIVABLE Accounts receivable include amounts due to the Company for sales of equipment, other amounts due from customers, merchant service receivables which are receivables due from credit card processors, and unbilled amounts due from customers, net of the allowance for uncollectible accounts. See "Allowance for Accounts and Finance Receivables" section below for details. FINANCE RECEIVABLES The Company offers extended payment terms to certain customers for equipment sales primarily under its Quick Start Program. Agreements under the Quick Start Program are accounted for as sales-type leases. Accordingly, the discounted future minimum lease payments are classified as finance receivables current and non-current in the Company’s Consolidated Balance Sheets based on whether the balances due within the next 12 months. Finance receivables or Quick Start leases are generally for a sixty-month term. The Company recognizes a portion of the lease payments as Interest income on the Consolidated Statements of Operations based on the effective interest rate method. ALLOWANCE FOR ACCOUNTS AND FINANCE RECEIVABLES The Company maintains lifetime expected loss allowances for accounts and finance receivables based on historical experience of payment performance, current conditions of the customer, which is generally less than one year for accounts receivable and five years for finance receivables. We estimate our allowance using an aging analysis (days past due status) of the receivables balances that is 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. The provision for expected credit losses relating to accounts receivable and finance receivable balances is recorded within General and administrative expenses in the Consolidated Statements of Operations. The Company writes off accounts and finance receivables balances when management determines the balance is uncollectible and the Company ceases collection efforts. INVENTORY Inventory consists primarily of finished goods. The company's inventories are valued at the lower of cost or net realizable value, using a weighted-average cost method. The Company establishes reserves for slow-moving inventory based upon quality considerations including potential changes in technological standards, historical usage and assumptions about future demand based on market conditions. The reserve is recorded within Cost of equipment sales in our Consolidated Statements of Operations. The inventory reserve was $2.2 million and $2.3 million as of June 30, 2024 and 2023, respectively. PROPERTY AND EQUIPMENT, NET Property and equipment, which primarily consists of computer equipment and software and leased equipment, are recorded at either cost or, in the instance of an acquisition, the estimated fair value on the date of the acquisition, and are depreciated on a straight-line basis over the estimated useful lives of the related assets. Capitalized internal-use software is amortized on the straight-line basis over the estimated useful lives of the software. Leasehold improvements are amortized on the straight-line basis over the lesser of the estimated useful life of the asset or the respective lease term. Depreciation expense on our property and equipment, excluding property and equipment used for rentals, is included in Depreciation and amortization in the Consolidated Statements of Operations. Depreciation expense on our property and equipment used for rentals is included in Cost of subscription and transaction fees in the Consolidated Statements of Operations. Additions and improvements that extend the estimated lives of the assets are capitalized, while expenditures for repairs and maintenance are expensed as incurred. GOODWILL The Company’s goodwill represents the excess of cost over fair value of the net assets purchased in acquisitions. We test goodwill for impairment at least annually, or more frequently if events or changes in circumstances indicate that impairment may have occurred. Goodwill is reviewed for impairment utilizing either a qualitative or a quantitative goodwill impairment test. When we perform a qualitative assessment and determine the fair value more likely than not exceeds the carrying value, no further evaluation is necessary. When we perform the quantitative goodwill impairment test, we compare the fair value of our reporting unit to its carrying value. If the fair value of the reporting unit exceeds its carrying value, then goodwill is not considered impaired. An impairment charge is recognized for the amount by which, if any, the carrying value exceeds the reporting unit’s fair value. However, the loss recognized cannot exceed the reporting unit’s goodwill balance. The Company performs an annual goodwill impairment test on April 1 and more frequently if events and circumstances indicate that the asset may be impaired. The Company has determined there is a single reporting unit for purposes of testing goodwill for impairment. The Company has concluded there has been no impairment of goodwill during the year ended June 30, 2024 based on its qualitative assessment. There has been no impairment of goodwill for fiscal year 2023 or 2022. Subsequent to our annual impairment test, no indicators of impairment were identified. INTANGIBLES, NET The Company's intangible assets include trademarks, non-compete agreements, brand names, customer relationships, acquired trade names, acquired developed technology and acquired customer relationships in a business combination. The Company carries these intangibles at cost, less accumulated amortization. Amortization is recorded on a straight-line basis over the estimated useful lives of the respective assets, which span between three and eighteen years, and are included in Depreciation and amortization in the Consolidated Statements of Operations. Other than goodwill, there were no indefinite-lived intangible assets at June 30, 2024 or 2023. The Company assesses its finite-lived intangible and other long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The carrying amount of an asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. Fair value of finite-lived intangible assets and property and equipment is based on various valuation techniques. If the carrying amount of an asset or group of assets exceeds its net realizable value, the asset will be written down to its fair value. The Company has concluded there has been no impairment of intangible and long-lived assets during the years ended June 30, 2024 or 2023. FAIR VALUE OF FINANCIAL INSTRUMENTS Fair value is defined as the price that would be received in the sale of an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows: Level 1‑ Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2‑ Inputs are other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). Level 3‑ Inputs are unobservable and reflect the Company’s assumptions that market participants would use in pricing the asset or liability. The Company develops these inputs based on the best information available. SIGNIFICANT CUSTOMERS Concentration of revenue with customers subject the Company to operating risks. Approximately $24.6 million, $28.7 million, and $29.7 million of the Company’s revenue for the years ended June 30, 2024, 2023 and 2022, respectively, were concentrated with one customer, which represented 9%, 12% and 14% of the Company's revenues for each of the years. The Company’s customers are principally located in the United States. REVENUE RECOGNITION The revenue recognition guidance provides a single model to determine when and how revenue is recognized. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of control of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company recognizes revenue using a five-step model resulting in revenue being recognized as performance obligations within a contract have been satisfied. The steps within that model include: (i) identifying the existence of a contract with a customer; (ii) identifying the performance obligations within the contract; (iii) determining the contract’s transaction price; (iv) allocating the transaction price to the contract’s performance obligations; and, (v) recognizing revenue as the contract’s performance obligations are satisfied. Judgment is required to apply the principles-based, five-step model for revenue recognition. Management is required to make certain estimates and assumptions about the Company’s contracts with its customers, including, among others, the nature and extent of its performance obligations, its transaction price amounts and any allocations thereof, and the events which constitute satisfaction of its performance obligations. The standard also requires certain incremental costs incurred to obtain or fulfill a contract to be deferred and amortized on a systematic basis consistent with the transfer of goods or services to the customer. The Company provides an end-to-end payment solution which integrates hardware, software, and payment processing in the self-service commerce industry. The Company has contractual agreements with customers that set forth the general terms and conditions of the relationship, including pricing of goods and services, payment terms and contract duration. Revenue is recognized when the obligation under the terms of the Company’s contract with its customer is satisfied and is measured as the amount of consideration the Company expects to receive in exchange for transferring goods or providing services. We provide cashless services in exchange for monthly service fees, in addition to collecting usage-based consideration for completed transactions. Certain contracts we enter into with third-party suppliers where we consider ourselves the principal provide us with the right to access and direct their services when processing a transaction. The Company combines the services provided by third-party suppliers to enable customers to accept cashless payment transactions, indicating that it controls all inputs in directing their use to create the combined service. Additionally, the Company sells cashless payment devices, which are either directly sold or leased through the Company's QuickStart, or Cantaloupe ONE programs. The Company recognizes fees charged to our customers primarily on a gross basis as transaction revenue when we are the principal in respect of completing a payment transaction. As a principal to the transaction, we control the service of completing payments for our customers through the payment ecosystem. The fees paid to payment processors and other financial institutions are recognized as transaction expenses in Cost of subscription and transaction fees in the Consolidated Statements of Operations. For certain transactions in which we act in the capacity as an agent, these transactions are recorded on a net basis. These are transactions in which the customer is entering into a separate arrangement with a third-party payment processor for the fulfillment of the payment service. Cashless services represent a single performance obligation as the combination of the services provided gives the customer the ability to accept cashless payments. The Company’s customers are contracting for integrated cashless services in connection with purchasing or leasing unattended POS devices. The integrated cashless services when combined together are so integral to the customer’s ability to derive benefit from the service, that the activities are effectively inputs to a single promise to the customer. Certain services are distinct, but are not accounted for separately as the rights are coterminous, they are transferred concurrently and the outcome is the same as accounting for the services as individual performance obligations. The single performance obligation is determined to be a stand-ready obligation to process payments whenever a consumer intends to make a purchase at a POS device. As the Company is unable to predict the timing and quantity of transactions to be processed, the assessment of the nature of the performance obligation is focused on each time increment rather than the underlying activity. Therefore, cashless payment processing services are viewed to comprise a series of distinct days of service that are substantially the same and have the same pattern of transfer to the customer. As a result, the promise to stand ready is accounted for as a single performance obligation. Revenue related to cashless services is recognized over the period in which services are provided, with usage-based revenue recognized as transactions occur. Consideration for this service includes fixed fees for standing ready to process transactions, and generally also includes usage-based fees, priced as a percentage of transaction value and/or a specified fee per transaction processed. The total transaction price of usage-based services is determined to be variable consideration as it is based on unknown quantities of services to be performed over the contract term. The underlying variability is satisfied each day the service is performed and provided to the customer. Clients are billed for cashless payment processing services on a monthly basis and for transaction processing as transactions occur. Payment is due based on the Company’s standard payment terms which is typically within 30 to 60 days of invoice issuance. Equipment sales represent a separate performance obligation, the majority of which is satisfied at a point in time through outright sales, or sales-type leases in accordance with ASC 842, “Leases”, when the equipment is delivered to the customer. Software represents a separate performance obligation, which is satisfied when each distinct day, or for practical reasons, each distinct month of service is transferred to the customers. Customers are billed for software services on a monthly basis. Payment is due based on the Company’s standard payment terms which is typically within 30 to 60 days of invoice issuance. Revenues related to Cantaloupe ONE equipment are recognized over time as the customer obtains the right to use the equipment through an operating lease. Clients are billed for equipment sales on a monthly basis, with payment due based on the Company’s standard payment terms which is typically within 30 to 60 days of invoice issuance. Revenue from QuickStart equipment leases are recognized as sales-type leases when equipment is shipped to the customer. Transaction processing revenue is recognized upon the usage of the Company’s cashless payment and control network. Subscription fees for access to the Company’s devices and network services are recognized on a monthly basis when the performance obligation is satisfied. The Company estimates an allowance for subscription and transaction fee refunds on a monthly basis. Hardware is available to customers under the QuickStart program pursuant to which the customer would enter into a five-year non-cancelable lease with either the Company or a third-party leasing company for the devices. The Company then allocates the transaction price to equipment and software subscription performance obligations in the contract using relative standalone selling prices. The Company determines standalone selling prices based on the price at which a good or service is sold separately. If the standalone selling price is not observable through historic data, the Company estimates the standalone selling price by considering all reasonably available information, including market data, trends, as well as other company- or customer-specific factors. The QuickStart contracts qualify for sales type lease accounting. At lease inception, the Company recognizes revenue and creates a finance receivable in an amount that represents the present value of minimum lease payments. Accordingly, a portion of the lease payments are recognized as interest income. At the end of the lease period, the customer would have the option to purchase the device at its residual value. Any customer payments received in advance and prior to the Company satisfying any performance obligations are recorded as deferred revenue and amortized as revenue is recognized. The Company will occasionally offer volume discounts, rebates or credits on certain contracts, which is considered variable consideration. The Company uses either the most-likely or estimated value method to estimate the amount of the consideration, based on what the Company expects to better predict the amount of consideration to which it will be entitled to on a contract-by-contract basis. The Company will qualitatively assess if the variable consideration should be limited to prevent possible significant reversals of revenue in future reporting periods. The Company assesses the goods and/or services promised in each customer contract and separately identifies a performance obligation for each promise to transfer to the customer a distinct good or service. The Company then allocates the transaction price to equipment and software subscription performance obligations in the contract using relative standalone selling prices. The Company determines standalone selling prices based on the price at which a good or service is sold separately. If the standalone selling price is not observable through historic data, the Company estimates the standalone selling price by considering all reasonably available information, including market data, trends, as well as other company- or customer-specific factors. The Company’s standard payment terms are payment is due within 30 to 60 days of invoice issuance. The Company uses the practical expedient and does not recognize a significant financing component for payment considerations of less than one year. Warranties The Company offers standard warranties that provide the customer with assurance that its equipment will function in accordance with contract specifications. The Company's standard warranties are not sold separately, but are included with each customer purchase. Warranties are not considered separate performance obligations and the related liability is estimated and recorded at the time of sale. Accounts Receivable and Contract Liabilities A contract with a customer creates legal rights and obligations. As the Company satisfies performance obligations under customer contracts, a right to unconditional consideration is recorded as an account receivable. Contract liabilities represent consideration received from customers in excess of revenues recognized (i.e., deferred revenue). Contract liabilities are classified as current or non-current based on the nature of the underlying contractual rights and obligations. Contract Costs The Company incurs costs to obtain contracts with customers, primarily in the form of commissions to sales employees. The Company recognizes as a contract asset for the incremental costs of obtaining a contract with a customer if it expects to recover these costs. The Company currently does not incur material costs to fulfill its obligations under a contract once it is obtained but before transferring goods or services to the customer. Contract costs are amortized on a systematic basis consistent with the transfer to the customer of the goods or services to which the asset relates. A straight-line or proportional amortization method is used depending upon which method best depicts the pattern of transfer of the goods or services to the customer. The Company’s contracts frequently contain performance obligations satisfied at a point in time and overtime. In these instances, the Company amortizes the contract costs proportionally with the timing and pattern of revenue recognition. In addition, these contract costs are evaluated for impairment by comparing, on a pooled basis, the expected future net cash flows from underlying customer relationships to the carrying amount of the capitalized contract costs. In order to determine the appropriate amortization period for contract costs, the Company considers a number of factors, including expected early terminations, estimated terms of customer relationships, the useful lives of technology Cantaloupe uses to provide goods and services to its customers, whether future contract renewals are expected and if there is any incremental commission to be paid on a contract renewal. The Company amortizes these assets over the expected period of benefit. Costs to obtain a contract with an expected period of benefit of one year or less are expensed when incurred. LEASES Lessee Accounting The Company determines if an arrangement is a lease at inception. The Company has operating and finance leases for office space, warehouses and office equipment. Cantaloupe’s leases have lease terms of one year to eight years and some include options to extend and/or terminate the lease. The exercise of lease renewal options is at the Company’s sole discretion. When deemed reasonably certain of exercise, the renewal options are included in the determination of the lease term. The Company’s lease agreements do not contain any material variable lease payments, material residual value guarantees or any material restrictive covenants. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the operating lease. Operating lease Right-of-Use (“ROU”) assets and liabilities are recognized at commencement date of the lease based on the present value of lease payments over the lease term. The Company uses its incremental borrowing rate, which is the collateralized rate of interest that we would pay to borrow over a similar term an amount equal to the lease payments, to determine the present value of lease payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Cantaloupe has lease agreements with lease and non-lease components. The Company uses the practical expedient related to treating lease and non-lease components as a single lease component for all leases as well as electing a policy exclusion permitting leases with an original lease term of less than one year to be excluded from the ROU assets and lease liabilities. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. Variable lease payments that are not based on an index or that result from changes to an index subsequent to the initial measurement of the corresponding lease liability are not included in the measurement of lease ROU assets or liabilities and instead are recognized in earnings in the period in which the obligation for those payments is incurred. The Company reviews its ROU assets for events or changes in circumstances that may indicate that the carrying amount of such assets may not be recoverable. The carrying amount of an asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If the carrying amount of an ROU exceeds its net realizable value, the asset will be written down to its fair value. The Company did not recognize an impairment charge related to the right-of-use assets for the years ended June 30, 2024 or 2023. Lessor Accounting The Company offers its customers financing for the lease of our POS electronic payment devices primarily through our QuickStart program. We account for these transactions as sales-type leases under ASC 606, "Revenue from Contracts with Customers". Our sales-type leases generally have a non-cancellable term of 60 months. Certain leases contain an end-of-term purchase option that is generally insignificant and is reasonably certain to be exercised by the lessee. Leases that do not meet the criteria for sales-type lease accounting are accounted for as operating leases, and typically relate to our Cantaloupe ONE rental program. Cantaloupe ONE agreements are 36-month rental agreements that transition to month-to-month agreements after the initial subscription commitment period. The Company also uses the practical expedient related to treating lease and non-lease components as a single component for those leases where the timing and pattern of transfer for the non-lease component and associated lease component are the same and the stand-alone lease component would be classified as an operating lease if accounted for separately. The combined component is then accounted for under Topic 606 or Topic 842 depending on the predominant characteristic of the combined component, which was Topic 606 for the Company's operating leases. All QuickStart leases are sales-type and do not qualify for the election. Lessor consideration is allocated between lease components and the non-lease components using the requirements under Topic 842. Revenue from sales-type leases is recognized upon shipment to the customer and the interest portion is deferred and recognized as earned. The revenues related to the sales-type leases are included in Equipment sales in the Consolidated Statements of Operations and a portion of the lease payments as Interest income. Revenue from operating leases is recognized ratably over the applicable service period in Subscription and transaction fees in the Consolidated Statements of Operations. Equipment Rental The Company offers its customers a rental program for its hardware devices, Cantaloupe ONE platform. In accordance with ASC 842, the Company classifies the rental agreements as operating leases, with service fee revenue related to the leases included in subscription and transaction fees in the Consolidated Statements of Operations. Costs for the Cantaloupe ONE revenue, which consist of depreciation expense on the Cantaloupe ONE equipment, are included in Cost of subscription and transaction fees in the Consolidated Statements of Operations. Equipment utilized by the Cantaloupe ONE program is included in Property and equipment, net on the Consolidated Balance Sheets. SHIPPING AND HANDLING Shipping and handling fees billed to our customers in connection with sales are recorded as revenue. The costs incurred for shipping and handling of our product are recorded as cost of equipment. ADVERTISING COSTS Advertising costs are expensed as incurred and are included within the Sales and marketing expenses in the Consolidated Statements of Operations. For the fiscal years ended June 30, 2024, 2023, and 2022, we incurred advertising costs of approximately $1.9 million, $0.8 million and $0.7 million, respectively. RESEARCH AND DEVELOPMENT EXPENSES Research and development expenses are expensed as incurred and primarily consist of personnel, contractors and product development costs. Research and development expenses, which are included within the technology and product development expenses and general and administrative expenses in the Consolidated Statements of Operations, were approximately $3.0 million, $3.5 million and $3.5 million, for the fiscal years ended June 30, 2024, 2023, and 2022, respectively. Our research and development initiatives focus on adding features and functionality to our system solutions through the development and utilization of our processing and reporting network and new technology. CAPITALIZATION OF INTERNAL-USE SOFTWARE AND CLOUD COMPUTING ARRANGEMENTS We have expenditures associated with the technological maintenance and improvement of our network and technology offerings. These expenditures include both the cost of internal employees, who spend portions of their time on various technological projects, and the use of external temporary labor and consultants. Capitalization of internal-use software occurs in the application development stage after the completion of the preliminary project stage, and management authorizes the project, management commits to funding the project, it is probable the project will be completed, and the project will be used to perform the function intended, and it ends at the implementation stage. We are required to assess these expenditures and make a determination as to whether the costs should be expensed as incurred or are subject to capitalization. In making these determinations, we consider the stage of the development project, the probability of successful development and if the development is resulting in increased features and functionality. In addition, if we determine that a project qualifies for capitalization, the amount of capitalization is subject to various estimates, including the amount of time spent on the development work and the cost of internal employees and external consultants. Internal-use software is included within Property and equipment, net on our Consolidated Balance Sheets and is amortized over its estimated useful life, which is typically 3 to 7 years. We capitalize certain costs related to hosting arrangements that are service contracts (cloud computing arrangements) following the internal-use software capitalization criteria described above. Our cloud computing arrangements involve services we use to support internal corporate functions, our platforms and technology offerings. Capitalized costs relating to cloud computing arrangements are included within Prepaid expenses and other current assets, or Other assets for costs that will be recognized in more than 12 months, on our Consolidated Balance Sheets and are amortized on a straight-line basis over the estimated useful life, which is typically 3 to 5 years. STOCK-BASED COMPENSATION The cost of services received in exchange for an award of equity instruments related to employees and non-employees is based on the grant-date fair value of the award and allocated over the requisite service period of the award. When the requisite service period precedes the grant date, the Company begins recognizing compensation cost before a grant date is established, and the awards are marked to market until grant date occurs. These costs are recorded within operating expenses in the Consolidated Statements of Operations. LOSS CONTINGENCIES From time to time, we are involved in litigation, claims, contingencies and other legal matters. The Company’s management and its legal counsel assess such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company's management team evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates it is probable that a loss has been incurred and the amount of the liability can be estimated, the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates a loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the nature of the guarantee would be disclosed. Expected legal costs associated with assessing or potentially settling a contingent liability are expensed as incurred. SALES TAX RESERVE The Company has recorded a contingent liability for sales tax, included in Accrued expenses in the Consolidated Balance Sheets. On a quarterly basis, the Company accrues interest on the unpaid balance. The estimated liability is adjusted upon the payment of sales tax related to the accrual, the changes in state tax laws that may impact the accrual and the expiration of the statute of limitations for open years under review. The liability includes significant judgments and estimates that may change in the future, and the actual liability may be different from our current estimate. Changes to the sales tax reserve amount are recorded within General and administrative expenses and Interest expense in the Consolidated Statements of Operations. INCOME TAXES Income taxes are computed using the asset and liability method of accounting. Under the asset and liability method, a deferred tax asset or liability is recognized for estimated future tax effects attributable to temporary differences and carryforwards. The measurement of deferred income tax assets is adjusted by a valuation allowance, if necessary, to recognize future tax benefits only to the extent, based on available evidence, it is more likely than not such benefits will be realized. Tax positions must meet a more-likely-than-not recognition threshold to be recognized. The Company recognizes interest and penalties, if any, related to uncertain tax positions within General and administrative expenses in the Consolidated Statements of Operations. Interest and penalties related to uncertain tax positions incurred during the fiscal years ended June 30, 2024, 2023, and 2022 were immaterial. EARNINGS (LOSS) PER COMMON SHARE Basic earnings (loss) per share are calculated by dividing net income (loss) applicable to common shares by the weighted average common shares outstanding for the period. Diluted earnings (loss) per share are calculated by dividing net income (loss) applicable to common shares by the weighted average common shares outstanding for the period plus the dilutive effects of common stock equivalents unless the effects of such common stock equivalents are anti-dilutive. RECLASSIFICATIONS Certain reclassifications have been made to prior years’ reported amounts in order to conform to the current year presentation. These reclassifications did not impact our previously reported net income (loss), stockholders’ equity or cash flows. RECENT ACCOUNTING PRONOUNCEMENTS Accounting pronouncements adopted On July 1, 2023, the Company adopted ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The standard requires an acquirer to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC 606, as if it had originated the contracts, rather than at fair value on the acquisition date.le The amendments in ASU 2021-08 were applied to both the 2023 and 2024 acquisitions described in Note 10 - Acquisitions. Accounting pronouncements to be adopted The Company is evaluating whether the effects of the following recent accounting pronouncements, or any other recently issued but not yet effective accounting standards, will have a material effect on the Company’s consolidated financial position, results of operations or cash flows. In November 2023, the FASB issued ASU 2023-07, which expands reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in the ASU require that a public entity disclose, on an annual and interim basis, significant segment expenses that are regularly provided to an entity's chief operating decision maker (“CODM”), a description of other segment items by reportable segment, and permits disclosure of additional measures of a segment's profit or loss used by the CODM when deciding how to allocate resources. It also requires certain disclosures for companies who have determined only one segment exists. Annual disclosures are required for fiscal years beginning after December 15, 2023, which is the Company's fiscal year 2025 annual reporting period. Interim disclosures are required for periods within fiscal years beginning after December 15, 2024, which is the Company's fiscal year 2026 interim reporting periods. Retrospective application is required for all prior periods presented, and early adoption is permitted. We are currently assessing the impact of the requirements on our consolidated financial statements and disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This standard was issued to enhance the transparency and decision usefulness of income tax disclosures to provide information to better assess how an entity’s operations and related tax risks and tax planning and operational opportunities affect its tax rate and prospects for future cash flows. The amendments in this ASU address transparency about income tax information through disclosures primarily related to the rate reconciliation and income taxes paid information. The amendments in this ASU are effective for annual periods beginning after December 15, 2024. The ASU should be applied on a prospective basis. Retrospective application is permitted. We are currently evaluating the impact the adoption of the new accounting guidance will have on our income tax disclosures.

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Jun. 30, 2024
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 analytics services. The total expense recognized within Cost of subscription and transaction fees for the year ended June 30, 2024, 2023, and 2022 for these arrangements were $0.2 million, $0.4 million, and $1.1 million, respectively.

- 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
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2
-Subparagraph (e)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

LEASES - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Operating Leases
2025	$ 1,637
2026	2,266
2027	1,839
2028	1,352
2029	1,388
Thereafter	5,469
Total lease payments	13,951
Less: Imputed interest	(4,174)
Present value of lease liabilities	$ 9,777	$ 3,770

DEBT AND OTHER FINANCING ARRANGEMENTS - Narrative (Details) $ in Thousands			12 Months Ended
	Dec. 01, 2022 USD ($)	Mar. 17, 2022 USD ($) covenant	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
Debt Instrument [Line Items]
Proceeds from long-term debt			$ 0	$ 25,000	$ 738
2021 JPMorgan Secured Term Facility \| Line of Credit
Debt Instrument [Line Items]
Interest rate. during period			9.00%	9.00%
JPMorgan Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Total leverage ratio maximum		3.00
Commitment fee		0.50%
Number of financial covenants \| covenant		2
JPMorgan Credit Facility \| Line of Credit \| Period One
Debt Instrument [Line Items]
Interest rate, increase		0.25%
Adjusted quick ratio, maximum		3.00
JPMorgan Credit Facility \| Line of Credit \| Period One \| Minimum \| Base Rate
Debt Instrument [Line Items]
Variable rate		2.50%
JPMorgan Credit Facility \| Line of Credit \| Period One \| Minimum \| SOFR
Debt Instrument [Line Items]
Variable rate		3.50%
JPMorgan Credit Facility \| Line of Credit \| Period One \| Maximum \| Base Rate
Debt Instrument [Line Items]
Variable rate		3.00%
JPMorgan Credit Facility \| Line of Credit \| Period One \| Maximum \| SOFR
Debt Instrument [Line Items]
Variable rate		4.00%
JPMorgan Credit Facility \| Line of Credit \| Period Two
Debt Instrument [Line Items]
Interest rate, increase		2.00%
Adjusted quick ratio, maximum		4.00
JPMorgan Credit Facility \| Line of Credit \| Period Two \| Minimum \| Base Rate
Debt Instrument [Line Items]
Variable rate		2.75%
JPMorgan Credit Facility \| Line of Credit \| Period Two \| Maximum \| SOFR
Debt Instrument [Line Items]
Variable rate		3.75%
Revolving Credit Facility \| 2022 JPMorgan Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 15,000
Proceeds from revolving credit facility	$ 15,000
Term Facility \| 2022 JPMorgan Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Proceeds from revolving credit facility	10,000
Term Facility \| 2021 JPMorgan Secured Term Facility \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 25,000
Proceeds from long-term debt	$ 25,000

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jun. 30, 2024
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND PREPARATION	BASIS OF PRESENTATION AND PREPARATION The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") on a going concern basis. In the opinion of management, all adjustments considered necessary for a fair presentation, consisting of normal recurring adjustments, have been included. The Company operates as one operating segment because its chief operating decision maker, who is the Chief Executive Officer, reviews its financial information on a consolidated basis for purposes of making decisions regarding allocating resources and assessing performance. The Company has operations in the United States, Mexico and the UK. The functional currencies of our foreign wholly-owned subsidiaries are the local currency. We translate the financial statements of these subsidiaries into U.S. dollars each reporting period for purposes of consolidation. Assets and liabilities are translated at the period-end currency exchange rates, certain equity accounts are translated at historical exchange rates and income and expense amounts are translated at average currency exchange rates in effect for the period. The effect of these translation adjustments are reported in Accumulated other comprehensive loss on the Consolidated Statements of Convertible Preferred Stock and Shareholders' Equity. Gains and losses on transactions denominated in currencies other than the functional currency are generally included in determining net income for the period. Foreign currency transaction gains and losses were not significant to the financial statements for the years ended June 30, 2024, 2023, and 2022.
CONSOLIDATED STATEMENTS OF OPERATIONS: COST OF SALES AND OPERATING EXPENSES PRESENTATION, RECLASSIFICATIONS	Consolidated Statements of Operations: Cost of Sales Below is a brief description of the various categories within cost of sales: •Cost of subscription and transaction fees: Cost of subscription and transaction fees consist of third-party transaction processing fees, interchange fees, and network service fees. Cost of subscription and transaction fees also includes depreciation expense associated with our Cantaloupe One rental equipment program. •Cost of equipment sales: Cost of equipment sales consist primarily of direct costs to acquire finished goods, or for certain products material to fabricate our equipment, as well as freight, taxes, and other inventory acquisition costs. Consolidated Statements of Operations: Operating expenses presentation Beginning in fiscal year 2023, the Company disaggregated General and administrative costs further by disclosing Integration and acquisition expenses separately. The updated presentation is intended to provide additional transparency to the readers of the financial statements and better align the Company’s financial performance with how management views and monitors business operations and makes strategic decisions. This presentation change did not impact total operating expenses, operating income (loss), net income (loss) or net income (loss) per common share. Below is a brief description of the various categories within operating expenses: •Sales and marketing: Sales and marketing expenses consist primarily of our sales and marketing team personnel costs. In addition, this category includes fees paid for advertising, trade shows and external consultants who assist in outreach initiatives designed to build brand awareness and showcase the value of our products and services to our opportunity markets. •Technology and product development: Technology and product development expenses consist primarily of our technology and product team personnel costs and fees paid to external consultants relating to innovating and maintaining our portfolio of products and services and strengthening our network environment and platform. These costs include but are not limited to engineering, platform and software development, fees for software licenses, contract labor and other technology and product related items that are not eligible for capitalization. •General, and administrative: General and administrative expenses consist primarily of our customer support, business operations, finance, legal, human resources and other administrative personnel costs and fees paid to external consultants for these respective departments. In addition, this category includes rent and occupancy costs and other miscellaneous costs incurred in the course of operating the business. •Investigation, proxy solicitation, and restatement expenses, net of insurance recoveries: In fiscal year 2019, the Audit Committee, with the assistance of independent legal and forensic accounting advisors, conducted an internal investigation of then-current and prior period matters relating to certain of the Company’s contractual arrangements, including the accounting treatment, financial reporting and internal controls related to such arrangements (the “2019 Investigation”). The Company and former officers incurred additional legal expenses for these periods offset by certain recoveries from insurance policy claims. •Integration and acquisition: Integration and acquisition expenses consist primarily of professional services fees including accounting, legal and investing banking advisory fees incurred in connection with acquisitions and post-acquisition integrations. See Note 10 - Acquisitions to the consolidated financial statements for further information. •Depreciation and amortization: Depreciation expense on our property and equipment, amortization of capitalized internal-use software development costs, and amortization expense on our intangible assets are included within the Depreciation and amortization caption in the Consolidated Statements of Operations. Depreciation on property and equipment used for rentals is included in Cost of subscription and transaction fees as described above. RECLASSIFICATIONS Certain reclassifications have been made to prior years’ reported amounts in order to conform to the current year presentation. These reclassifications did not impact our previously reported net income (loss), stockholders’ equity or cash flows.
USE OF ESTIMATES	USE OF ESTIMATES The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, assumptions and judgments that affect the amounts reported in the consolidated financial statements and accompanying notes. The Company evaluates these estimates on an ongoing basis. Estimates, judgments, and assumptions in these consolidated financial statement include, but are not limited to, those related to revenue recognition, capitalization of internal-use software and cloud computing arrangements, fair value of acquired assets and liabilities including goodwill through purchase accounting, evaluation of goodwill and long-lived assets impairment, allowances for accounts and finance receivables, inventory reserves, loss contingencies, income taxes, and sales tax reserves.
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS Cash equivalents represent all highly liquid investments with original maturities of three months or less from time of purchase. Cash equivalents are comprised of money market funds. The Company maintains its cash in bank deposit accounts where accounts may exceed federally insured limits at times. The Company deems this credit risk not to be significant as cash is held at well-capitalized financial institutions.
ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE Accounts receivable include amounts due to the Company for sales of equipment, other amounts due from customers, merchant service receivables which are receivables due from credit card processors, and unbilled amounts due from customers, net of the allowance for uncollectible accounts. See "Allowance for Accounts and Finance Receivables" section below for details.
FINANCE RECEIVABLES	FINANCE RECEIVABLES The Company offers extended payment terms to certain customers for equipment sales primarily under its Quick Start Program. Agreements under the Quick Start Program are accounted for as sales-type leases. Accordingly, the discounted future minimum lease payments are classified as finance receivables current and non-current in the Company’s Consolidated Balance Sheets based on whether the balances due within the next 12 months. Finance receivables or Quick Start leases are generally for a sixty-month term. The Company recognizes a portion of the lease payments as Interest income on the Consolidated Statements of Operations based on the effective interest rate method.
ALLOWANCE FOR ACCOUNTS AND FINANCE RECEIVABLES	ALLOWANCE FOR ACCOUNTS AND FINANCE RECEIVABLES The Company maintains lifetime expected loss allowances for accounts and finance receivables based on historical experience of payment performance, current conditions of the customer, which is generally less than one year for accounts receivable and five years for finance receivables. We estimate our allowance using an aging analysis (days past due status) of the receivables balances that is 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. The provision for expected credit losses relating to accounts receivable and finance receivable balances is recorded within General and administrative expenses in the Consolidated Statements of Operations. The Company writes off accounts and finance receivables balances when management determines the balance is uncollectible and the Company ceases collection efforts.
INVENTORY	INVENTORY Inventory consists primarily of finished goods. The company's inventories are valued at the lower of cost or net realizable value, using a weighted-average cost method. The Company establishes reserves for slow-moving inventory based upon quality considerations including potential changes in technological standards, historical usage and assumptions about future demand based on market conditions. The reserve is recorded within Cost of equipment sales in our Consolidated Statements of Operations. The inventory reserve was $2.2 million and $2.3 million as of June 30, 2024 and 2023, respectively.
PROPERTY AND EQUIPMENT, NET	PROPERTY AND EQUIPMENT, NET Property and equipment, which primarily consists of computer equipment and software and leased equipment, are recorded at either cost or, in the instance of an acquisition, the estimated fair value on the date of the acquisition, and are depreciated on a straight-line basis over the estimated useful lives of the related assets. Capitalized internal-use software is amortized on the straight-line basis over the estimated useful lives of the software. Leasehold improvements are amortized on the straight-line basis over the lesser of the estimated useful life of the asset or the respective lease term. Depreciation expense on our property and equipment, excluding property and equipment used for rentals, is included in Depreciation and amortization in the Consolidated Statements of Operations. Depreciation expense on our property and equipment used for rentals is included in Cost of subscription and transaction fees in the Consolidated Statements of Operations. Additions and improvements that extend the estimated lives of the assets are capitalized, while expenditures for repairs and maintenance are expensed as incurred.
GOODWILL	GOODWILL The Company’s goodwill represents the excess of cost over fair value of the net assets purchased in acquisitions. We test goodwill for impairment at least annually, or more frequently if events or changes in circumstances indicate that impairment may have occurred. Goodwill is reviewed for impairment utilizing either a qualitative or a quantitative goodwill impairment test. When we perform a qualitative assessment and determine the fair value more likely than not exceeds the carrying value, no further evaluation is necessary. When we perform the quantitative goodwill impairment test, we compare the fair value of our reporting unit to its carrying value. If the fair value of the reporting unit exceeds its carrying value, then goodwill is not considered impaired. An impairment charge is recognized for the amount by which, if any, the carrying value exceeds the reporting unit’s fair value. However, the loss recognized cannot exceed the reporting unit’s goodwill balance. The Company performs an annual goodwill impairment test on April 1 and more frequently if events and circumstances indicate that the asset may be impaired. The Company has determined there is a single reporting unit for purposes of testing goodwill for impairment. The Company has concluded there has been no impairment of goodwill during the year ended June 30, 2024 based on its qualitative assessment. There has been no impairment of goodwill for fiscal year 2023 or 2022. Subsequent to our annual impairment test, no indicators of impairment were identified.
INTANGIBLES, NET	INTANGIBLES, NET The Company's intangible assets include trademarks, non-compete agreements, brand names, customer relationships, acquired trade names, acquired developed technology and acquired customer relationships in a business combination. The Company carries these intangibles at cost, less accumulated amortization. Amortization is recorded on a straight-line basis over the estimated useful lives of the respective assets, which span between three and eighteen years, and are included in Depreciation and amortization in the Consolidated Statements of Operations.
INTANGIBLE AND LONG-LIVED ASSETS	The Company assesses its finite-lived intangible and other long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The carrying amount of an asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. Fair value of finite-lived intangible assets and property and equipment is based on various valuation techniques. If the carrying amount of an asset or group of assets exceeds its net realizable value, the asset will be written down to its fair value.
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS Fair value is defined as the price that would be received in the sale of an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows: Level 1‑ Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2‑ Inputs are other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). Level 3‑ Inputs are unobservable and reflect the Company’s assumptions that market participants would use in pricing the asset or liability. The Company develops these inputs based on the best information available.
SIGNIFICANT CUSTOMERS	SIGNIFICANT CUSTOMERS Concentration of revenue with customers subject the Company to operating risks. Approximately $24.6 million, $28.7 million, and $29.7 million of the Company’s revenue for the years ended June 30, 2024, 2023 and 2022, respectively, were concentrated with one customer, which represented 9%, 12% and 14% of the Company's revenues for each of the years. The Company’s customers are principally located in the United States.
REVENUE RECOGNITION	REVENUE RECOGNITION The revenue recognition guidance provides a single model to determine when and how revenue is recognized. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of control of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company recognizes revenue using a five-step model resulting in revenue being recognized as performance obligations within a contract have been satisfied. The steps within that model include: (i) identifying the existence of a contract with a customer; (ii) identifying the performance obligations within the contract; (iii) determining the contract’s transaction price; (iv) allocating the transaction price to the contract’s performance obligations; and, (v) recognizing revenue as the contract’s performance obligations are satisfied. Judgment is required to apply the principles-based, five-step model for revenue recognition. Management is required to make certain estimates and assumptions about the Company’s contracts with its customers, including, among others, the nature and extent of its performance obligations, its transaction price amounts and any allocations thereof, and the events which constitute satisfaction of its performance obligations. The standard also requires certain incremental costs incurred to obtain or fulfill a contract to be deferred and amortized on a systematic basis consistent with the transfer of goods or services to the customer. The Company provides an end-to-end payment solution which integrates hardware, software, and payment processing in the self-service commerce industry. The Company has contractual agreements with customers that set forth the general terms and conditions of the relationship, including pricing of goods and services, payment terms and contract duration. Revenue is recognized when the obligation under the terms of the Company’s contract with its customer is satisfied and is measured as the amount of consideration the Company expects to receive in exchange for transferring goods or providing services. We provide cashless services in exchange for monthly service fees, in addition to collecting usage-based consideration for completed transactions. Certain contracts we enter into with third-party suppliers where we consider ourselves the principal provide us with the right to access and direct their services when processing a transaction. The Company combines the services provided by third-party suppliers to enable customers to accept cashless payment transactions, indicating that it controls all inputs in directing their use to create the combined service. Additionally, the Company sells cashless payment devices, which are either directly sold or leased through the Company's QuickStart, or Cantaloupe ONE programs. The Company recognizes fees charged to our customers primarily on a gross basis as transaction revenue when we are the principal in respect of completing a payment transaction. As a principal to the transaction, we control the service of completing payments for our customers through the payment ecosystem. The fees paid to payment processors and other financial institutions are recognized as transaction expenses in Cost of subscription and transaction fees in the Consolidated Statements of Operations. For certain transactions in which we act in the capacity as an agent, these transactions are recorded on a net basis. These are transactions in which the customer is entering into a separate arrangement with a third-party payment processor for the fulfillment of the payment service. Cashless services represent a single performance obligation as the combination of the services provided gives the customer the ability to accept cashless payments. The Company’s customers are contracting for integrated cashless services in connection with purchasing or leasing unattended POS devices. The integrated cashless services when combined together are so integral to the customer’s ability to derive benefit from the service, that the activities are effectively inputs to a single promise to the customer. Certain services are distinct, but are not accounted for separately as the rights are coterminous, they are transferred concurrently and the outcome is the same as accounting for the services as individual performance obligations. The single performance obligation is determined to be a stand-ready obligation to process payments whenever a consumer intends to make a purchase at a POS device. As the Company is unable to predict the timing and quantity of transactions to be processed, the assessment of the nature of the performance obligation is focused on each time increment rather than the underlying activity. Therefore, cashless payment processing services are viewed to comprise a series of distinct days of service that are substantially the same and have the same pattern of transfer to the customer. As a result, the promise to stand ready is accounted for as a single performance obligation. Revenue related to cashless services is recognized over the period in which services are provided, with usage-based revenue recognized as transactions occur. Consideration for this service includes fixed fees for standing ready to process transactions, and generally also includes usage-based fees, priced as a percentage of transaction value and/or a specified fee per transaction processed. The total transaction price of usage-based services is determined to be variable consideration as it is based on unknown quantities of services to be performed over the contract term. The underlying variability is satisfied each day the service is performed and provided to the customer. Clients are billed for cashless payment processing services on a monthly basis and for transaction processing as transactions occur. Payment is due based on the Company’s standard payment terms which is typically within 30 to 60 days of invoice issuance. Equipment sales represent a separate performance obligation, the majority of which is satisfied at a point in time through outright sales, or sales-type leases in accordance with ASC 842, “Leases”, when the equipment is delivered to the customer. Software represents a separate performance obligation, which is satisfied when each distinct day, or for practical reasons, each distinct month of service is transferred to the customers. Customers are billed for software services on a monthly basis. Payment is due based on the Company’s standard payment terms which is typically within 30 to 60 days of invoice issuance. Revenues related to Cantaloupe ONE equipment are recognized over time as the customer obtains the right to use the equipment through an operating lease. Clients are billed for equipment sales on a monthly basis, with payment due based on the Company’s standard payment terms which is typically within 30 to 60 days of invoice issuance. Revenue from QuickStart equipment leases are recognized as sales-type leases when equipment is shipped to the customer. Transaction processing revenue is recognized upon the usage of the Company’s cashless payment and control network. Subscription fees for access to the Company’s devices and network services are recognized on a monthly basis when the performance obligation is satisfied. The Company estimates an allowance for subscription and transaction fee refunds on a monthly basis. Hardware is available to customers under the QuickStart program pursuant to which the customer would enter into a five-year non-cancelable lease with either the Company or a third-party leasing company for the devices. The Company then allocates the transaction price to equipment and software subscription performance obligations in the contract using relative standalone selling prices. The Company determines standalone selling prices based on the price at which a good or service is sold separately. If the standalone selling price is not observable through historic data, the Company estimates the standalone selling price by considering all reasonably available information, including market data, trends, as well as other company- or customer-specific factors. The QuickStart contracts qualify for sales type lease accounting. At lease inception, the Company recognizes revenue and creates a finance receivable in an amount that represents the present value of minimum lease payments. Accordingly, a portion of the lease payments are recognized as interest income. At the end of the lease period, the customer would have the option to purchase the device at its residual value. Any customer payments received in advance and prior to the Company satisfying any performance obligations are recorded as deferred revenue and amortized as revenue is recognized. The Company will occasionally offer volume discounts, rebates or credits on certain contracts, which is considered variable consideration. The Company uses either the most-likely or estimated value method to estimate the amount of the consideration, based on what the Company expects to better predict the amount of consideration to which it will be entitled to on a contract-by-contract basis. The Company will qualitatively assess if the variable consideration should be limited to prevent possible significant reversals of revenue in future reporting periods. The Company assesses the goods and/or services promised in each customer contract and separately identifies a performance obligation for each promise to transfer to the customer a distinct good or service. The Company then allocates the transaction price to equipment and software subscription performance obligations in the contract using relative standalone selling prices. The Company determines standalone selling prices based on the price at which a good or service is sold separately. If the standalone selling price is not observable through historic data, the Company estimates the standalone selling price by considering all reasonably available information, including market data, trends, as well as other company- or customer-specific factors. The Company’s standard payment terms are payment is due within 30 to 60 days of invoice issuance. The Company uses the practical expedient and does not recognize a significant financing component for payment considerations of less than one year. Accounts Receivable and Contract Liabilities A contract with a customer creates legal rights and obligations. As the Company satisfies performance obligations under customer contracts, a right to unconditional consideration is recorded as an account receivable. Contract liabilities represent consideration received from customers in excess of revenues recognized (i.e., deferred revenue). Contract liabilities are classified as current or non-current based on the nature of the underlying contractual rights and obligations. Contract Costs The Company incurs costs to obtain contracts with customers, primarily in the form of commissions to sales employees. The Company recognizes as a contract asset for the incremental costs of obtaining a contract with a customer if it expects to recover these costs. The Company currently does not incur material costs to fulfill its obligations under a contract once it is obtained but before transferring goods or services to the customer. Contract costs are amortized on a systematic basis consistent with the transfer to the customer of the goods or services to which the asset relates. A straight-line or proportional amortization method is used depending upon which method best depicts the pattern of transfer of the goods or services to the customer. The Company’s contracts frequently contain performance obligations satisfied at a point in time and overtime. In these instances, the Company amortizes the contract costs proportionally with the timing and pattern of revenue recognition. In addition, these contract costs are evaluated for impairment by comparing, on a pooled basis, the expected future net cash flows from underlying customer relationships to the carrying amount of the capitalized contract costs. In order to determine the appropriate amortization period for contract costs, the Company considers a number of factors, including expected early terminations, estimated terms of customer relationships, the useful lives of technology Cantaloupe uses to provide goods and services to its customers, whether future contract renewals are expected and if there is any incremental commission to be paid on a contract renewal. The Company amortizes these assets over the expected period of benefit. Costs to obtain a contract with an expected period of benefit of one year or less are expensed when incurred.
WARRANTIES	Warranties The Company offers standard warranties that provide the customer with assurance that its equipment will function in accordance with contract specifications. The Company's standard warranties are not sold separately, but are included with each customer purchase. Warranties are not considered separate performance obligations and the related liability is estimated and recorded at the time of sale.
LESSEE ACCOUNTING	Lessee Accounting The Company determines if an arrangement is a lease at inception. The Company has operating and finance leases for office space, warehouses and office equipment. Cantaloupe’s leases have lease terms of one year to eight years and some include options to extend and/or terminate the lease. The exercise of lease renewal options is at the Company’s sole discretion. When deemed reasonably certain of exercise, the renewal options are included in the determination of the lease term. The Company’s lease agreements do not contain any material variable lease payments, material residual value guarantees or any material restrictive covenants. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the operating lease. Operating lease Right-of-Use (“ROU”) assets and liabilities are recognized at commencement date of the lease based on the present value of lease payments over the lease term. The Company uses its incremental borrowing rate, which is the collateralized rate of interest that we would pay to borrow over a similar term an amount equal to the lease payments, to determine the present value of lease payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Cantaloupe has lease agreements with lease and non-lease components. The Company uses the practical expedient related to treating lease and non-lease components as a single lease component for all leases as well as electing a policy exclusion permitting leases with an original lease term of less than one year to be excluded from the ROU assets and lease liabilities. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. Variable lease payments that are not based on an index or that result from changes to an index subsequent to the initial measurement of the corresponding lease liability are not included in the measurement of lease ROU assets or liabilities and instead are recognized in earnings in the period in which the obligation for those payments is incurred. The Company reviews its ROU assets for events or changes in circumstances that may indicate that the carrying amount of such assets may not be recoverable. The carrying amount of an asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If the carrying amount of an ROU exceeds its net realizable value, the asset will be written down to its fair value.
LESSOR ACCOUNTING	Lessor Accounting The Company offers its customers financing for the lease of our POS electronic payment devices primarily through our QuickStart program. We account for these transactions as sales-type leases under ASC 606, "Revenue from Contracts with Customers". Our sales-type leases generally have a non-cancellable term of 60 months. Certain leases contain an end-of-term purchase option that is generally insignificant and is reasonably certain to be exercised by the lessee. Leases that do not meet the criteria for sales-type lease accounting are accounted for as operating leases, and typically relate to our Cantaloupe ONE rental program. Cantaloupe ONE agreements are 36-month rental agreements that transition to month-to-month agreements after the initial subscription commitment period. The Company also uses the practical expedient related to treating lease and non-lease components as a single component for those leases where the timing and pattern of transfer for the non-lease component and associated lease component are the same and the stand-alone lease component would be classified as an operating lease if accounted for separately. The combined component is then accounted for under Topic 606 or Topic 842 depending on the predominant characteristic of the combined component, which was Topic 606 for the Company's operating leases. All QuickStart leases are sales-type and do not qualify for the election. Lessor consideration is allocated between lease components and the non-lease components using the requirements under Topic 842. Revenue from sales-type leases is recognized upon shipment to the customer and the interest portion is deferred and recognized as earned. The revenues related to the sales-type leases are included in Equipment sales in the Consolidated Statements of Operations and a portion of the lease payments as Interest income. Revenue from operating leases is recognized ratably over the applicable service period in Subscription and transaction fees in the Consolidated Statements of Operations. Equipment Rental The Company offers its customers a rental program for its hardware devices, Cantaloupe ONE platform. In accordance with ASC 842, the Company classifies the rental agreements as operating leases, with service fee revenue related to the leases included in subscription and transaction fees in the Consolidated Statements of Operations. Costs for the Cantaloupe ONE revenue, which consist of depreciation expense on the Cantaloupe ONE equipment, are included in Cost of subscription and transaction fees in the Consolidated Statements of Operations. Equipment utilized by the Cantaloupe ONE program is included in Property and equipment, net on the Consolidated Balance Sheets.
SHIPPING AND HANDLING	SHIPPING AND HANDLING Shipping and handling fees billed to our customers in connection with sales are recorded as revenue. The costs incurred for shipping and handling of our product are recorded as cost of equipment.
ADVERTISING COSTS	ADVERTISING COSTS Advertising costs are expensed as incurred and are included within the Sales and marketing expenses in the Consolidated Statements of Operations.
RESEARCH AND DEVELOPMENT EXPENSES	RESEARCH AND DEVELOPMENT EXPENSES Research and development expenses are expensed as incurred and primarily consist of personnel, contractors and product development costs. Research and development expenses, which are included within the technology and product development expenses and general and administrative expenses in the Consolidated Statements of Operations, were approximately $3.0 million, $3.5 million and $3.5 million, for the fiscal years ended June 30, 2024, 2023, and 2022, respectively. Our research and development initiatives focus on adding features and functionality to our system solutions through the development and utilization of our processing and reporting network and new technology.
CAPITALIZATION OF INTERNAL-USE SOFTWARE AND CLOUD COMPUTING ARRANGEMENTS	CAPITALIZATION OF INTERNAL-USE SOFTWARE AND CLOUD COMPUTING ARRANGEMENTS We have expenditures associated with the technological maintenance and improvement of our network and technology offerings. These expenditures include both the cost of internal employees, who spend portions of their time on various technological projects, and the use of external temporary labor and consultants. Capitalization of internal-use software occurs in the application development stage after the completion of the preliminary project stage, and management authorizes the project, management commits to funding the project, it is probable the project will be completed, and the project will be used to perform the function intended, and it ends at the implementation stage. We are required to assess these expenditures and make a determination as to whether the costs should be expensed as incurred or are subject to capitalization. In making these determinations, we consider the stage of the development project, the probability of successful development and if the development is resulting in increased features and functionality. In addition, if we determine that a project qualifies for capitalization, the amount of capitalization is subject to various estimates, including the amount of time spent on the development work and the cost of internal employees and external consultants. Internal-use software is included within Property and equipment, net on our Consolidated Balance Sheets and is amortized over its estimated useful life, which is typically 3 to 7 years. We capitalize certain costs related to hosting arrangements that are service contracts (cloud computing arrangements) following the internal-use software capitalization criteria described above. Our cloud computing arrangements involve services we use to support internal corporate functions, our platforms and technology offerings. Capitalized costs relating to cloud computing arrangements are included within Prepaid expenses and other current assets, or Other assets for costs that will be recognized in more than 12 months, on our Consolidated Balance Sheets and are amortized on a straight-line basis over the estimated useful life, which is typically 3 to 5 years.
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION The cost of services received in exchange for an award of equity instruments related to employees and non-employees is based on the grant-date fair value of the award and allocated over the requisite service period of the award. When the requisite service period precedes the grant date, the Company begins recognizing compensation cost before a grant date is established, and the awards are marked to market until grant date occurs. These costs are recorded within operating expenses in the Consolidated Statements of Operations.
LOSS CONTINGENCIES	LOSS CONTINGENCIES From time to time, we are involved in litigation, claims, contingencies and other legal matters. The Company’s management and its legal counsel assess such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company's management team evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates it is probable that a loss has been incurred and the amount of the liability can be estimated, the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates a loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the nature of the guarantee would be disclosed. Expected legal costs associated with assessing or potentially settling a contingent liability are expensed as incurred.
SALES TAX RESERVE	SALES TAX RESERVE The Company has recorded a contingent liability for sales tax, included in Accrued expenses in the Consolidated Balance Sheets. On a quarterly basis, the Company accrues interest on the unpaid balance. The estimated liability is adjusted upon the payment of sales tax related to the accrual, the changes in state tax laws that may impact the accrual and the expiration of the statute of limitations for open years under review. The liability includes significant judgments and estimates that may change in the future, and the actual liability may be different from our current estimate. Changes to the sales tax reserve amount are recorded within General and administrative expenses and Interest expense in the Consolidated Statements of Operations.
INCOME TAXES	INCOME TAXES Income taxes are computed using the asset and liability method of accounting. Under the asset and liability method, a deferred tax asset or liability is recognized for estimated future tax effects attributable to temporary differences and carryforwards. The measurement of deferred income tax assets is adjusted by a valuation allowance, if necessary, to recognize future tax benefits only to the extent, based on available evidence, it is more likely than not such benefits will be realized. Tax positions must meet a more-likely-than-not recognition threshold to be recognized. The Company recognizes interest and penalties, if any, related to uncertain tax positions within General and administrative expenses in the Consolidated Statements of Operations. Interest and penalties related to uncertain tax positions incurred during the fiscal years ended June 30, 2024, 2023, and 2022 were immaterial.
EARNINGS (LOSS) PER COMMON SHARE	EARNINGS (LOSS) PER COMMON SHARE Basic earnings (loss) per share are calculated by dividing net income (loss) applicable to common shares by the weighted average common shares outstanding for the period. Diluted earnings (loss) per share are calculated by dividing net income (loss) applicable to common shares by the weighted average common shares outstanding for the period plus the dilutive effects of common stock equivalents unless the effects of such common stock equivalents are anti-dilutive.
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS Accounting pronouncements adopted On July 1, 2023, the Company adopted ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The standard requires an acquirer to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC 606, as if it had originated the contracts, rather than at fair value on the acquisition date.le The amendments in ASU 2021-08 were applied to both the 2023 and 2024 acquisitions described in Note 10 - Acquisitions. Accounting pronouncements to be adopted The Company is evaluating whether the effects of the following recent accounting pronouncements, or any other recently issued but not yet effective accounting standards, will have a material effect on the Company’s consolidated financial position, results of operations or cash flows. In November 2023, the FASB issued ASU 2023-07, which expands reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in the ASU require that a public entity disclose, on an annual and interim basis, significant segment expenses that are regularly provided to an entity's chief operating decision maker (“CODM”), a description of other segment items by reportable segment, and permits disclosure of additional measures of a segment's profit or loss used by the CODM when deciding how to allocate resources. It also requires certain disclosures for companies who have determined only one segment exists. Annual disclosures are required for fiscal years beginning after December 15, 2023, which is the Company's fiscal year 2025 annual reporting period. Interim disclosures are required for periods within fiscal years beginning after December 15, 2024, which is the Company's fiscal year 2026 interim reporting periods. Retrospective application is required for all prior periods presented, and early adoption is permitted. We are currently assessing the impact of the requirements on our consolidated financial statements and disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This standard was issued to enhance the transparency and decision usefulness of income tax disclosures to provide information to better assess how an entity’s operations and related tax risks and tax planning and operational opportunities affect its tax rate and prospects for future cash flows. The amendments in this ASU address transparency about income tax information through disclosures primarily related to the rate reconciliation and income taxes paid information. The amendments in this ASU are effective for annual periods beginning after December 15, 2024. The ASU should be applied on a prospective basis. Retrospective application is permitted. We are currently evaluating the impact the adoption of the new accounting guidance will have on our income tax disclosures.

FINANCE RECEIVABLES - Narrative (Details)	12 Months Ended
FINANCE RECEIVABLES - Narrative (Details)	Jun. 30, 2024
Receivables [Abstract]
Finance receivables sales-type lease term	60 months

ACCRUED EXPENSES - Information Regarding Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Business Acquisition [Line Items]
Accrued sales tax	$ 9,947	$ 13,597
Accrued compensation and related sales commissions	4,061	4,069
Operating lease liabilities - current	1,320	1,266
Accrued professional fees	4,336	4,196
Accrued other taxes and filing fees	2,123	1,944
Accrued other	851	762
Total accrued expenses	24,008	26,276
Three Square Market, Inc.
Business Acquisition [Line Items]
Consideration withheld in escrow	442	442
Cheq Lifestyle Technology, Inc.
Business Acquisition [Line Items]
Consideration withheld in escrow	$ 928	$ 0

SHAREHOLDER'S EQUITY AND PREFERRED STOCK - Preferred Stock Liquidation Preference (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Class of Stock [Line Items]
Liquidation price (in USD per share)	$ 10.00
Convertible Preferred Stock
Class of Stock [Line Items]
For shares outstanding at $10.00 per share	$ 3,858	$ 3,858
Cumulative undeclared and unpaid dividends	18,864	18,286
Preferred stock liquidation preference	$ 22,722	$ 22,144

- 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
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+ Details

ACCRUED EXPENSES (Tables)

12 Months Ended

Jun. 30, 2024

Accrued Liabilities [Abstract]

Schedule of Accrued Expenses

Accrued expenses consisted of the following as of June 30, 2024 and 2023:


	As of June 30,
($ in thousands)	2024		2023


Accrued sales tax	$	9,947	$	13,597
Accrued compensation and related sales commissions	4,061		4,069
Operating lease liabilities - current	1,320		1,266
Accrued professional fees	4,336		4,196

Accrued other taxes and filing fees	2,123		1,944
Accrued other	851		762
Consideration withheld for the 32M acquisition(1)	442		442
Consideration withheld for the Cheq acquisition(1)	928		—
Total accrued expenses	$	24,008	$	26,276

(1) See Note 10 - Acquisitions for details.

Audit Information	12 Months Ended
Audit Information	Jun. 30, 2024
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	Atlanta, GA
Auditor Firm ID	34

LEASES (Tables)

12 Months Ended

Jun. 30, 2024

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 June 30, 2024		As of June 30, 2023

Assets
Operating leases	Operating lease right-of-use assets	7,986		$	2,575

Liabilities
Current	Accrued expenses	1,320		1,266
Long-term	Operating lease liabilities, non-current	8,457		2,504
Total lease liabilities		$	9,777	$	3,770

Lease Costs

Components of lease cost are as follows:


	Year ended June 30,
($ in thousands)	2024		Year ended	2023		Year ended	2022

Operating lease costs*	$	2,520		$	2,490		$	1,923

* Includes variable lease costs of $0.4 million for the years ended June 30, 2024, 2023 and 2022.

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


	Year ended June 30,
($ in thousands)	2024		2023		2022

Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	2,278	$	2,522	$	1,737

Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations
Operating lease	$	6,657	$	1,607	$	471

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


	Year ended June 30,
	2024		2023
Weighted-average remaining lease term (years)
Operating leases	7.3		3.2

Weighted-average discount rate
Operating leases	8.2	%	7.5	%

Maturities of Lease Liabilities, Operating Leases

Maturities of operating lease liabilities by fiscal year for our leases as of June 30, 2024 are as follows:


($ in thousands)	Amount
2025	$	1,637
2026	2,266
2027	1,839
2028	1,352
2029	1,388
Thereafter	5,469
Total lease payments	$	13,951
Less: Imputed interest	(4,174)
Present value of lease liabilities	$	9,777

Property and Equipment Used for Operating Lease Rental Program

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


	As of June 30,
($ in thousands)	2024		2023
Cost	$	32,513	$	28,398
Accumulated depreciation	(24,742)		(23,221)
Net	$	7,771	$	5,177

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net income (loss)	$ 11,993	$ 633	$ (1,703)

- Definition

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

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-Subparagraph (SX 210.9-04(22))
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+ Details

REVENUE (Tables)

12 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Based on similar operational characteristics, the Company's revenue is disaggregated as follows:


	Year-ended June 30,
($ in thousands)	2024		2023		2022
Transaction fees	$	156,166	$	132,594	$	110,695
Subscription fees	75,331		67,629		58,155
Subscription and transaction fees	231,497		200,223		168,850
Equipment sales	37,099		43,418		36,352
Total revenues	$	268,596	$	243,641	$	205,202

Contract Liability

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


	Year ended June 30,
($ in thousands)	2024		2023
Deferred revenue, beginning of the period	$	1,666	$	1,893
Deferred revenue, end of the period	1,726		1,666
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period	617		576

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 June 30, 2024:


($ in thousands)	Year ended June 30,
2025	5,938
2026	3,420
2027	575
Total	$	9,933

Operating Lease, Lease Income

The Company's revenues earned under ASC Topic 842 are as follows:


	Year-ended June 30,
($ in thousands)	2024		2023		2022
Operating leases	$	8,246	$	7,567	$	7,107
Sales-type finance leases	2,882		6,464		8,010
Total lease revenues	$	11,128	$	14,031	$	15,117

EARNINGS (LOSS) PER SHARE CALCULATION (Tables)

12 Months Ended

Jun. 30, 2024

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:


	Year ended June 30,
($ in thousands, except share and per share data)	2024		2023		2022

Numerator for basic and diluted earnings (loss) per share
Net income (loss)	$	11,993	$	633	$	(1,703)
Preferred dividends	(578)		(623)		(668)
Net income (loss) available to common shareholders	$	11,415	$	10	$	(2,371)

Denominator for basic earnings (loss) per share - Weighted average shares outstanding	72,819,220		71,978,901		71,091,790
Effect of dilutive potential common shares	1,352,878		535,733		—
Denominator for diluted earnings (loss) per share - Adjusted weighted average shares outstanding	74,172,098		72,514,634		71,091,790

Basic earnings (loss) per share	$	0.16	$	—	$	(0.03)
Diluted earnings (loss) per share	$	0.15	$	—	$	(0.03)

REVENUE - Performance Obligations (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation	$ 9,933
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	$ 5,938
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	$ 3,420
Performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation	$ 575
Performance obligation, period	1 year

REVENUE - Schedule of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Revenues:	$ 268,596	$ 243,641	$ 205,202
Non-US
Disaggregation of Revenue [Line Items]
Revenues:	2,400	500	0
Transaction fees
Disaggregation of Revenue [Line Items]
Revenues:	156,166	132,594	110,695
Subscription fees
Disaggregation of Revenue [Line Items]
Revenues:	75,331	67,629	58,155
Subscription and transaction fees
Disaggregation of Revenue [Line Items]
Revenues:	231,497	200,223	168,850
Equipment sales
Disaggregation of Revenue [Line Items]
Revenues:	$ 37,099	$ 43,418	$ 36,352

- 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

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+ Details

DEBT AND OTHER FINANCING ARRANGEMENTS - Debt and Other Financing Agreements (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Debt Instrument [Line Items]
Long term debt	$ 37,659
Less: unamortized issuance costs and debt discount	(109)	$ (183)
Total outstanding debt	37,550	38,430
Less: debt and other financing arrangements, current	(1,266)	(882)
Debt and other financing arrangements, non-current	36,284	37,548
Line of Credit \| JPMorgan Credit Facility
Debt Instrument [Line Items]
Long term debt	37,625	38,563
Other obligations
Debt Instrument [Line Items]
Long term debt	$ 34	$ 50

- 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

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+ Details

- Definition

Amount of unamortized debt discount (premium) and debt issuance costs.

+ References + Details

- Definition

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

+ References + Details

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Jun. 30, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

INCOME TAXES

12 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

INCOME TAXES

The Company has significant deferred tax assets, a substantial amount of which result from operating loss carryforwards. The Company routinely evaluates its ability to realize the benefits of these assets to determine whether it is more likely than not that such benefit will be realized. The Company believes that for the year ended June 30, 2024, it is more likely than not that its deferred tax assets will not be realized. Accordingly, the Company has established a full valuation allowance on its net deferred tax assets. The Company intends to continue maintaining a full valuation allowance on its federal and state deferred tax assets until there is sufficient evidence to support the reversal of all or some portion of this allowance. However, given the Company’s current earnings and anticipated future earnings, the Company believes that there is a reasonable possibility in a future period that 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 provision for income taxes for the years ended June 30, 2024, 2023 and 2022 is comprised of the following:


	Year ended June 30,
($ in thousands)	2024		2023		2022
Current:
Federal	$	(65)	$	—	$	—
State	(729)		(92)		(179)
Foreign	—		—		—
Total current	(794)		(92)		(179)
Deferred:
Federal	(248)		(62)		(18)
State	57		(27)		11
Foreign	—		—		—
Total deferred	(191)		(89)		(7)
Total income tax provision	$	(985)	$	(181)	$	(186)

The components of pre-tax income (loss) are as follows:


	Year ended June 30,
($ in thousands)	2024		2023		2022
U.S. income (loss)	$	16,217	$	996	$	(1,517)
Other income (loss)	(3,239)		(182)		—
Total income (loss)	$	12,978	$	814	$	(1,517)


	Year ended June 30,
($ in thousands)	2024		2023		2022
Tax at U.S Federal statutory rate	$	(2,725)	$	(171)	$	319
Effects of permanent differences
Stock compensation	$	24	$	(688)	$	(184)
Other permanent differences	$	(81)	$	(497)	$	(106)
State income taxes, net of federal benefit	$	(613)	$	(296)	$	(275)
Changes related to prior years	$	—	$	51	$	—
Changes related to state tax rates	$	—	$	(2,455)	$	—
Changes in valuation allowances	$	2,281	$	3,942	$	184
Statutory Rates Different from U.S.	$	183	$	—	$	—
Other	$	(54)	$	(67)	$	(124)
Total	$	(985)	$	(181)	$	(186)

As of June 30, 2024 the Company had federal and state operating loss carryforwards of approximately $159 million and $91 million, respectively, to offset future taxable income. As of June 30, 2023 the Company had federal and state operating loss carryforwards of approximately $179 million and $112 million, respectively, to offset future taxable income. The timing and extent to which the Company can utilize operating loss carryforwards in any year may be limited because of provisions of the Internal Revenue Code regarding changes in ownership of corporations (i.e. IRS Code Section 382). Federal and state net operating loss carryforwards of $64 million and $10 million, respectively, have indefinite lives and will not expire. The remaining $95 million of federal net operating loss carryforwards and $81 million of state operating loss carryforwards begin to

expire in 2024. The net deferred tax assets arose primarily from net operating loss carryforwards, as well as the use of different accounting methods for financial statement and income tax reporting purposes as follows:


	As of June 30,
($ in thousands)	2024		2023
Deferred tax assets:
Net operating loss carryforwards	$	37,621	$	42,614
Receivable credit losses	1,367		1,180
Inventory reserves	541		580
Sales returns and allowances	2,463		1,916
Sales tax reserves	1,876		2,824
Deferred research and development	5,750		2,856
Stock-based compensation	4,327		3,798
Lease liabilities	2,410		884
Other	346		190
	56,701		56,842
Deferred tax liabilities:
Intangibles	(3,502)		(3,689)
Property and equipment	(1,179)		(1,466)
Right-of-use assets	(1,954)		(586)
	(6,635)		(5,741)
Deferred tax assets, net	50,066		51,101
Valuation allowance	(50,532)		(51,376)
Deferred income taxes	$	(466)	$	(275)

As of June 30, 2024, the Company had total unrecognized income tax benefits of $0.8 million related to its nexus in certain state tax jurisdictions. If recognized in future years, $0.8 million of these currently unrecognized income tax benefits would impact the income tax provision and effective tax rate. The following table summarizes the activity related to unrecognized income tax benefits:


	Year ended June 30,
($ in thousands)	2024		2023		2022
Balance at the beginning of the year	$	689	$	572	$	444
Gross increases and decreases related to current period tax positions	—		—		—
Gross increases and decreases related to prior period tax positions	110		117		128
Balance at the end of the year	$	799	$	689	$	572

The Company files income tax returns in the United States federal jurisdiction and various state jurisdictions. The tax years ended June 30, 2020 through June 30, 2022 remain open to examination by taxing jurisdictions to which the Company is subject. While the statute of limitations has expired for years prior to the year ended June 30, 2020, changes in reported losses for those years are subject to examination by tax authorities to the extent that operating loss carryforwards from those prior years impact upon taxable income in current years. As of June 30, 2024, the Company did not have any income tax examinations in process.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
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+ Details

STOCK-BASED COMPENSATION - Narrative (Details) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2021 $ / shares	Jun. 30, 2024 USD ($) plan $ / shares	Jun. 30, 2023 USD ($) $ / shares	Jun. 30, 2022 USD ($) $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of active stock based compensation plans \| plan		3
Weighted average grant date fair value (in USD per share)		$ 4.02	$ 2.89	$ 5.12
Fair value of stock options vested \| $		$ 4,500	$ 3,800	$ 3,000
Expense (benefit) recognized for stock based compensation \| $		5,109	4,737	6,248
Stock-based compensation expense, tax benefits recognized \| $		$ 500	1,400	$ 600
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation vesting period		3 years
Share-based compensation termination period		7 years
Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Consecutive trading days	30 days
Performance goals, percentage achieved	80.00%
Performance goals, decrease in performance options percent	2.00%
Expense (benefit) recognized for stock based compensation \| $		$ 100	$ 800
Performance Based Awards \| Performance Period, One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Price per share, threshold (in USD per share)	$ 10.50
Performance Based Awards \| Performance Period, Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Price per share, threshold (in USD per share)	13.50
Performance Based Awards \| Performance Period, Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Price per share, threshold (in USD per share)	19.50
Performance Based Awards \| Performance Period, Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Price per share, threshold (in USD per share)	$ 16.50
Long-term Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation vesting period		3 years
Minimum \| Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation vesting period		3 years
Minimum \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation vesting period		1 year
Maximum \| Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation vesting period		4 years
Maximum \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation vesting period		3 years

ACQUISITIONS

12 Months Ended

Jun. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

ACQUISITIONS

Cheq

On February 1, 2024, the Company acquired all of the equity interests of Cheq Lifestyle Technology, Inc. ("Cheq"). Founded in 2021, Cheq powers payments for numerous professional sports teams, entertainment venues and festival operators through its enterprise-grade payment devices and mobile ordering platform. The acquisition positions Cantaloupe for expansion into the large and rapidly growing sports, entertainment, and restaurant sectors with a comprehensive suite of self-service solutions.

The acquisition of Cheq 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 $4.7 million, including $1.1 million in accounts payable paid concurrently with the acquisition and $0.9 million cash held back by the Company for net working capital and other post-closing adjustments. The acquisition was funded by the Company's cash on hand. Cash held back by the Company is expected to be paid after post-closing adjustments on January 1, 2025.

The following table summarizes the adjusted fair value assigned to the assets acquired and liabilities assumed as of June 30, 2024.


($ in thousands)	Amount
Cash and cash equivalents	$	84
Property and equipment	1,136
Intangible assets	1,750
Other assets	486
Total identifiable assets acquired	3,456
Accounts payable	(691)
Other liabilities	(52)
Total liabilities assumed	(743)
Total identifiable net assets	2,713
Goodwill	2,000
Fair value of total considerations transferred	$	4,713

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 $1.4 million related to developed technology, $0.2 million related to customer relationships, and $0.2 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 distributor method which estimates the value using the cash flow impact in a scenario where the customer relationships are not in place. The fair value of the acquired trade names was determined using the relief from royalty method which estimates the value using the discounted value of the royalty that a company would pay to license the trade name. 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 $2.0 million arising from the acquisition includes the expected synergies between Cheq and the Company. The goodwill, which is not deductible for income tax purposes, was assigned to the Company’s only reporting unit.

The Company recognized $1.1 million of integration and acquisition related costs that were expensed during the year ended June 30, 2024. These costs are recorded within Integration and acquisition expenses in the Consolidated Statements of Operations.

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 in the consolidated financial statements as of March 31, 2024 to reflect facts and circumstances in existence as of the acquisition close date. These adjustments included a net decrease of $0.1 million to the overall purchase price consideration, a $0.9 million decrease in intangible assets, a $0.1 million increase in other assets, and a $0.2 million increase in accounts payable. Recognized goodwill increased by $0.9 million as a result of these adjustments. Furthermore, the Company reduced amortization expense of $0.2 million associated with the decrease in fair value of the recognized intangible assets in its Consolidated Statement of Operations. The allocation of the purchase price is currently provisional and is subject to change over the remainder of the measurement period as the Company continues to evaluate and analyze the estimates and assumptions used in the valuation. Pro forma financial information of the acquisition and revenue and net income since acquisition are not presented due to the immaterial impact of the financial results of Cheq in the Company's Consolidated Financial Statements.

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 POS 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, 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. 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. 50% of the Escrowed Shares were released as of the first anniversary of the acquisition date and the remaining 50% will be released 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 utilized existing cash on hand.

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


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

The following table summarizes the final fair value assigned to the assets acquired and liabilities assumed as of June 30, 2024.


($ in thousands)	Amount
Cash and cash equivalents	$	391
Accounts receivable	1,780
Inventories	2,011
Intangible assets	15,538
Other assets	629
Total identifiable assets acquired	20,349
Accounts payable	(2,410)
Tax liabilities	(3,033)
Total liabilities assumed	(5,443)
Total identifiable net assets	14,906
Goodwill	26,205
Fair value of total consideration transferred	$	41,111

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 $26.2 million arising from the acquisition includes the expected synergies between 32M and the Company. The goodwill, which is deductible for income tax purposes, was assigned to the Company’s only reporting unit.

For the year ended June 30, 2024, the Company recognized measurement period adjustments of a $0.6 million increase in intangible assets, a net decrease of $0.4 million in working capital, a $0.9 million increase in tax liabilities, and a $0.1 million increase in accounts payable. Recognized goodwill increased by $0.9 million as a result of these adjustments.

The above table represents the final allocation of the purchase price.

The Company recognized $3.1 million of acquisition related costs that were expensed during the year ended June 30, 2023. These costs were recorded within Integration and acquisition expenses in the Consolidated Statement of Operations.

Unaudited supplemental disclosure of pro forma information

The following table presents unaudited pro forma information as if the acquisition of 32M had occurred on July 1, 2021. The unaudited pro forma information presented combines the historical condensed consolidated results of operations of the Company and 32M after giving effect to the preliminary purchase accounting impact of the 32M acquisition related costs (including, but not limited to, amortization associated with the acquired intangible assets, interest expense associated with the Credit Facility to finance a portion of the purchase price, acquisition related costs) and the alignment of accounting policies. This supplemental unaudited pro forma information has been prepared for comparative purposes and does not purport to be indicative of what would have occurred had the acquisition been made on July 1, 2021, nor are they indicative of any future results. Furthermore, cost savings and other business synergies related to the acquisition are not reflected in the pro forma amounts.


	Year ended June 30,
($ In thousands)	2023		2022
Revenues	$	251,979	$	222,185
Net loss	(75)		(7,117)

The unaudited supplemental pro forma financial information for the year ended June 30, 2023 was adjusted to exclude $3.1 million of acquisition related costs, the components of which were previously described. The unaudited supplemental pro forma financial information for the year ended June 30, 2022 was adjusted to include the $3.1 million of acquisition related costs.

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, with the residual of the purchase price recorded as goodwill.

Through the acquisition, Yoke’s POS 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 includes 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. If we were to determine it was

probable that the performance conditions would be satisfied, we would recognize compensation expense for these awards over the requisite service period. At each reporting date, we assess the probability of achieving the sales targets and fulfilling the performance condition. No compensation expense has been recognized on these awards as we determined that it was not probable that the performance condition would be satisfied as of June 30, 2024, 2023 and 2022.

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. 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.

ACCRUED EXPENSES

12 Months Ended

Jun. 30, 2024

Accrued Liabilities [Abstract]

ACCRUED EXPENSES

Accrued expenses consisted of the following as of June 30, 2024 and 2023:


	As of June 30,
($ in thousands)	2024		2023


Accrued sales tax	$	9,947	$	13,597
Accrued compensation and related sales commissions	4,061		4,069
Operating lease liabilities - current	1,320		1,266
Accrued professional fees	4,336		4,196

Accrued other taxes and filing fees	2,123		1,944
Accrued other	851		762
Consideration withheld for the 32M acquisition(1)	442		442
Consideration withheld for the Cheq acquisition(1)	928		—
Total accrued expenses	$	24,008	$	26,276

(1) See Note 10 - Acquisitions for details.

INCOME TAXES - Summary of Net Deferred Tax Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Deferred tax assets:
Net operating loss carryforwards	$ 37,621	$ 42,614
Receivable credit losses	1,367	1,180
Inventory reserves	541	580
Sales returns and allowances	2,463	1,916
Sales tax reserves	1,876	2,824
Deferred research and development	5,750	2,856
Stock-based compensation	4,327	3,798
Lease liabilities	2,410	884
Other	346	190
Deferred tax assets, gross	56,701	56,842
Deferred tax liabilities:
Intangibles	(3,502)	(3,689)
Property and equipment	(1,179)	(1,466)
Right-of-use assets	(1,954)	(586)
Deferred tax liabilities, gross	(6,635)	(5,741)
Deferred tax assets, net	50,066	51,101
Valuation allowance	(50,532)	(51,376)
Deferred income taxes	$ (466)	$ (275)

PROPERTY AND EQUIPMENT, NET (Tables)

12 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment consisted of the following:


		As of June 30, 2024
($ in thousands)	Useful Lives	Cost		Accumulated Depreciation		Net
Computer equipment and software	3-7 years	$	7,588	$	(6,994)	$	594
Internal-use software	3-5 years	34,666		(9,472)		25,194
Property and equipment used for rental program	5 years	32,513		(24,742)		7,771
Furniture and equipment	3-7 years	1,862		(1,466)		396
Leasehold improvements	(a)	434		(360)		74
		$	77,063	$	(43,034)	$	34,029


		As of June 30, 2023
($ in thousands)	Useful Lives	Cost		Accumulated Depreciation		Net
Computer equipment and software	3-7 years	$	8,089	$	(7,443)	$	646
Internal-use software	3-5 years	24,294		(5,107)		19,187
Property and equipment used for rental program	5 years	28,398		(23,221)		5,177
Furniture and equipment	3-7 years	1,559		(1,474)		85
Leasehold improvements	(a)	790		(604)		186
		$	63,130	$	(37,849)	$	25,281

(a) Lesser of lease term or estimated useful life

SUBSEQUENT EVENTS (Details) - SB Software Limited - Subsequent Event $ in Millions	Sep. 05, 2024 USD ($)
Subsequent Event [Line Items]
Business combination, consideration transferred	$ 13
Business combination, contingent consideration, liability	$ 3
Business combination, contingent consideration, liability, revenue target duration	3 years

EARNINGS (LOSS) PER SHARE CALCULATION

12 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

EARNINGS (LOSS) PER SHARE CALCULATION

LOSS) PER SHARE CALCULATION

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


	Year ended June 30,
($ in thousands, except share and per share data)	2024		2023		2022

Numerator for basic and diluted earnings (loss) per share
Net income (loss)	$	11,993	$	633	$	(1,703)
Preferred dividends	(578)		(623)		(668)
Net income (loss) available to common shareholders	$	11,415	$	10	$	(2,371)

Denominator for basic earnings (loss) per share - Weighted average shares outstanding	72,819,220		71,978,901		71,091,790
Effect of dilutive potential common shares	1,352,878		535,733		—
Denominator for diluted earnings (loss) per share - Adjusted weighted average shares outstanding	74,172,098		72,514,634		71,091,790

Basic earnings (loss) per share	$	0.16	$	—	$	(0.03)
Diluted earnings (loss) per share	$	0.15	$	—	$	(0.03)

Potentially anti-dilutive shares excluded from the calculation of diluted earnings (loss) per share were approximately 0 million, 4 million, and 5 million for the year ended June 30, 2024, 2023 and 2022, respectively.

ACQUISITIONS - Summary of Purchase Price Consideration (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Dec. 01, 2022	Aug. 31, 2021	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Business Acquisition [Line Items]
Closing cash consideration			$ 3,701	$ 35,714	$ 2,966
Three Square Market, Inc.
Business Acquisition [Line Items]
Closing cash consideration	$ 36,605
Stock Consideration	4,506
Fair value of total consideration transferred	$ 41,111
Yoke
Business Acquisition [Line Items]
Closing cash consideration		$ 2,966
Contingent consideration arrangement		1,000
Fair value of total consideration transferred		$ 3,966

ACQUISITIONS - Schedule of Pro Forma Operations Results (Details) - Three Square Market, Inc. - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Business Acquisition [Line Items]
Revenues	$ 251,979	$ 222,185
Net loss	$ (75)	$ (7,117)

FINANCE RECEIVABLES (Tables)

12 Months Ended

Jun. 30, 2024

Receivables [Abstract]

Schedule of Finance Receivables

As of June 30, 2024 and 2023, finance receivables consist of the following:


	As of June 30,
($ in thousands)	2024		2023

Current finance receivables, net	$	6,391	$	6,668
Finance receivables due after one year, net	10,036		13,307
Total finance receivables, net of allowance of $1,934 and $2,098, respectively	$	16,427	$	19,975

Schedule of Credit Quality Indicators

At June 30, 2024, 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		$	2,199	$	5,135	$	4,668	$	1,961	$	456	$	324	$	14,743
30 days and under		13		67		80		85		56		42		343
31 - 60 days		8		64		58		49		47		38		264
61 - 90 days		8		62		48		32		36		38		224
Greater than 90 days		35		387		625		208		297		1,235		2,787
Total finance receivables		$	2,263	$	5,715	$	5,479	$	2,335	$	892	$	1,677	$	18,361

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

Schedule of Age Analysis of Finance Receivables

The following table represents a rollforward of the allowance for finance receivables for the years ending June 30, 2024 and 2023:


	Year ended June 30,
($ in thousands)	2024		2023

Balance, beginning of year	$	2,098	$	760

Provision for expected losses	(164)		1,626
Write-offs	—		(288)
Balance, end of year	$	1,934	$	2,098

Schedule of Financing Receivable

Cash to be collected on our performing finance receivables due for each of the fiscal years after June 30, 2024 are as follows:


($ in thousands)

2025	$	7,274
2026	5,795
2027	3,908
2028	1,871
2029	596
Thereafter	30
Total amounts to be collected	19,474
Less: interest	(1,113)
Less: allowance for expected credit losses	(1,934)
Total finance receivables	$	16,427

Sales-type Lease, Lease Income


($ in thousands)
Equipment sales	$	2,882
Cost of equipment sales	2,861
Interest income	1,910

LEASES - Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Assets
Operating leases	$ 7,986	$ 2,575
Liabilities
Operating lease liabilities - current	1,320	1,266
Operating lease liabilities	8,457	2,504
Total lease liabilities	$ 9,777	$ 3,770
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current

EARNINGS (LOSS) PER SHARE CALCULATION - Calculation of Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Numerator for basic and diluted earnings (loss) per share
Net income (loss)	$ 11,993	$ 633	$ (1,703)
Preferred dividends	(578)	(623)	(668)
Net income (loss) available to common shareholders	$ 11,415	$ 10	$ (2,371)
Denominator for basic earnings (loss) per share - Weighted average shares outstanding (in shares)	72,819,220	71,978,901	71,091,790
Effect of dilutive potential common shares (in shares)	1,352,878	535,733	0
Denominator for diluted earnings (loss) per share - Adjusted weighted average shares outstanding (in shares)	74,172,098	72,514,634	71,091,790
Basic earnings (loss) per share (in USD per share)	$ 0.16	$ 0	$ (0.03)
Diluted earnings (loss) per share (in USD per share)	$ 0.15	$ 0	$ (0.03)

- Definition

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

+ References

+ Details

- Definition

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

+ References

+ Details

- Definition

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

+ References

+ Details

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 6.B)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 10
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Reference 9: 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 10: 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

STOCK-BASED COMPENSATION

12 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

STOCK COMPENSATION PLANS

The Company has three active stock-based compensation plans at June 30, 2024 as shown in the table below:

Date Approved

Name of Plan

Type of Plan

Authorized
Shares

June 2014

2014 Stock Option Incentive Plan

Stock options

750,000

June 2015

2015 Equity Incentive Plan

Stock & stock options

1,250,000

April 2018

2018 Equity Incentive Plan

Stock & stock options

10,000,000

12,000,000

As of June 30, 2024, the Company had reserved shares of Common Stock for future issuance for the following:


Common Stock						Reserved Shares
Conversions of Preferred Stock and cumulative Preferred Stock dividends						95,558
Issuance of shares to former executive upon the occurrence of a Cantaloupe transaction (1)						140,000
Total shares reserved for future issuance						235,558

(1)Represents 140,000 shares issuable to our former executive upon the occurrence of a "USA Transaction" as such term is defined in the stock agreement.

As of June 30, 2024, the Company had the following shares available for issuance under the respective incentive plans:


Incentive Plan						Available Options
Issuance under 2014 Stock Option Incentive Plan						15,687
Issuance under 2015 Equity Incentive Plan						369,157
Issuance under 2018 Equity Incentive Plan						4,170,267
Total options available for future issuance						4,555,111

STOCK OPTIONS

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

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

The fair value of options granted during the years ended June 30, 2024, 2023, and 2022 was determined using the following assumptions:


	For the year ended June 30,
	2024	2023	2022

Expected volatility	52.6 - 69.7%	74.6 - 77.6%	73.2 - 74.6%
Expected life (years)	4.2 - 4.5	4.4 - 4.6	4.5 - 4.6
Expected dividends	0.0%	0.0%	0.0%
Risk-free interest rate	4.0 - 4.4%	2.7 - 4.1%	1.0 - 2.9%

The following tables provide information about outstanding options for the years ended June 30, 2024, 2023, and 2022:


	For the year ended June 30, 2024
	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding options, beginning of year	3,873,632	$	6.35	5.1	$	7,595
Granted	175,000	$	6.92
Exercised	(18,334)	$	6.06		$	—
Forfeited	(29,799)	$	6.90
Expired	(28,665)	$	4.40
Outstanding options, end of year	3,971,834	$	6.63	4.3	$	3,582
Exercisable options, end of year	2,602,259	$	7.28	3.8	$	1,085


	For the year ended June 30, 2023
	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding options, beginning of year	3,529,833	$	7.41	4.5	$	194
Granted	1,720,000	$	4.61
Exercised	—	$	—		$	—
Forfeited	(1,376,201)	$	6.86
Expired	—	$	—
Outstanding options, end of year	3,873,632	$	6.35	5.1	$	7,595
Exercisable options, end of year	1,341,466	$	7.26	3.9	$	1,536


	For the year ended June 30, 2022
	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding options, beginning of year	2,952,092	$	6.97	5.6	$	14,419
Granted	904,500	$	8.86
Exercised	(121,248)	$	6.30		$	(53)
Forfeited	(205,511)	$	8.09
Expired	—	$	—
Outstanding options, end of year	3,529,833	$	7.41	4.5	$	194
Exercisable options, end of year	1,538,302	$	6.79	4.5	$	183

The weighted average grant date fair value per share for the Company's stock options granted during the years ended June 30, 2024, 2023, and 2022 was $4.02, $2.89, and $5.12, respectively. The total fair value of stock options vested during the years ended June 30, 2024, 2023, and 2022 was $4.5 million, $3.8 million, and $3.0 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 also 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 established the performance metrics as a price target for the trading price of the Company’s common stock in each applicable fiscal year. The price target is achieved if the average closing price of the common stock during any consecutive 30-trading-day period during the applicable fiscal year meets or exceeds: (i) $10.50 in the case of fiscal year 2021; (ii) $13.50 in the case of fiscal year 2022; (iii) $16.50 in the case of fiscal year 2023; and (iv) $19.50 in the case of fiscal year 2024. If at least 80% of the performance goals for an applicable fiscal year are achieved, the Compensation Committee may determine that the portion of the option eligible to vest based on such fiscal year’s performance will vest on a prorated basis. In so determining, the Compensation Committee will consider the Company’s performance relative to its market competitors and any other considerations deemed relevant by the Compensation Committee. The Compensation Committee’s guideline is generally that for every percentage point the achieved price falls below the price target, the percentage of the performance options eligible to vest in respect of the applicable fiscal year should be reduced by 2%, but the Compensation Committee may vary this formula in its sole discretion.

For these performance-based awards that provide discretion to the Compensation Committee, a mutual understanding of the key terms and conditions between the Company and the employees have not yet been met and a grant date has not been established. When the service period begins prior to the grant date, the Company begins recognizing compensation cost before there is a grant date. The Company estimates the award's fair value at each reporting period for these equity classified awards, until the grant date, utilizing a Monte Carlo simulation valuation model. The total expense recognized during the year ended June 30, 2024 for these awards was $0.1 million. For the year ended June 30, 2023, the total net benefit recognized for these awards was $0.8 million, primarily as a result of reversing unvested grants for terminated executives during the period.

COMMON STOCK GRANTS

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

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

A summary of the status of the Company’s nonvested common shares and RSUs as of June 30, 2024, 2023, and 2022, and changes during the years then ended is presented below:


	Shares	Weighted-Average Grant-Date Fair Value
Nonvested at June 30, 2021	137,846	$	9.57
Granted	507,729	$	7.33
Vested	(101,515)	$	10.34
Forfeited	(95,152)	$	8.89
Nonvested at June 30, 2022	448,908	$	7.00
Granted	346,346	$	5.41
Vested	(274,011)	$	5.96
Forfeited	(97,342)	$	8.27
Nonvested at June 30, 2023	423,901	$	6.08
Granted	439,363	$	6.72
Vested	(311,093)	$	6.38
Forfeited	(4,207)	$	7.58
Nonvested at June 30, 2024	547,964	$	6.41

STOCK-BASED COMPENSATION EXPENSE

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

A summary of the Company's stock-based compensation expense recognized during the years ended June 30, 2024, 2023, and 2022 is as follows:


($ in thousands)	For the year ended June 30,
Award type	2024		2023		2022
Stock options	$	2,992	$	2,967	$	4,424
Stock grants	2,117		1,770		1,824
Total stock-based compensation expense	$	5,109	$	4,737	$	6,248

The Company recognized tax benefits of $0.5 million, $1.4 million, and $0.6 million related to stock compensation expense for the years ended June 30, 2024, 2023, and 2022, respectively.

A summary of the Company's unrecognized stock-based compensation expense as of June 30, 2024 is as follows:


	As of June 30, 2024
Award type	Unrecognized Expense (in thousands)		Weighted Average Recognition Period (in years)
Stock options	$	1,566	1.3
Stock grants	$	2,225	1.5

GOODWILL AND INTANGIBLE ASSETS - Summary of Estimated Annual Amortization Expense for Amortizable Intangible Asset (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 4,969
2026	4,771
2027	4,421
2028	2,571
2029	1,208
Thereafter	6,686
Amortizable intangible assets, Net	$ 24,626	$ 27,812

ACQUISITIONS - Narrative (Details) - USD ($) $ in Thousands				1 Months Ended	2 Months Ended	12 Months Ended
ACQUISITIONS - Narrative (Details) - USD ($) $ in Thousands	Feb. 01, 2024	Dec. 01, 2022	Jul. 27, 2022	Aug. 31, 2021	Mar. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Business Acquisition [Line Items]
Closing cash consideration						$ 3,701	$ 35,714	$ 2,966
Goodwill						94,903	92,005
Proceeds from long-term debt						0	25,000	738
Term Facility \| 2021 JPMorgan Secured Term Facility \| Line of Credit
Business Acquisition [Line Items]
Proceeds from long-term debt		$ 25,000
Cheq Lifestyle Technology, Inc.
Business Acquisition [Line Items]
Business combination, consideration transferred	$ 4,700
Other payments to acquire businesses	1,100
Closing cash consideration	900
Goodwill	2,000
Acquisition related costs						1,100
Net increase in overall purchase price consideration					$ (100)
Increase in intangible assets					(900)
Business combination, provisional information, initial accounting incomplete, adjustment, other asset					100
Business combination, provisional information, initial accounting incomplete, adjustment, account payable					(200)
Decrease in goodwill					900
Increase (decrease) amortization of intangible assets					$ (200)
Cheq Lifestyle Technology, Inc. \| Developed technology
Business Acquisition [Line Items]
Intangible assets acquired	1,400
Cheq Lifestyle Technology, Inc. \| Customer relationships
Business Acquisition [Line Items]
Intangible assets acquired	200
Cheq Lifestyle Technology, Inc. \| Trade Names
Business Acquisition [Line Items]
Intangible assets acquired	$ 200
Three Square Market, Inc.
Business Acquisition [Line Items]
Business combination, consideration transferred		41,111
Closing cash consideration		36,605
Goodwill		$ 26,205
Acquisition related costs							$ 3,100	$ 3,100
Increase in intangible assets						600
Business combination, provisional information, initial accounting incomplete, adjustment, account payable						(100)
Decrease in goodwill						900
Number of shares issued in business acquisition		1,240,920
Stock Consideration		$ 4,506
Escrow deposit		500
Decrease in working capital related accounts						(400)
Increase in tax liabilities						$ 900
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. \| Release, Period One
Business Acquisition [Line Items]
Percentage of shares released from escrow		50.00%
Three Square Market, Inc. \| Release, Period Two
Business Acquisition [Line Items]
Percentage of shares released from escrow		50.00%
Three Square Market, Inc. \| Developed technology
Business Acquisition [Line Items]
Weighted average useful life		5 years
Three Square Market, Inc. \| Customer relationships
Business Acquisition [Line Items]
Intangible assets acquired		$ 7,500
Weighted average useful life		5 years
Three Square Market, Inc. \| Trade Names
Business Acquisition [Line Items]
Intangible assets acquired		$ 500
Weighted average useful life		3 years
Three Square Market, Inc. \| Developed Technology Rights
Business Acquisition [Line Items]
Intangible assets acquired		$ 7,500
Yoke
Business Acquisition [Line Items]
Business combination, consideration transferred				$ 3,966
Closing cash consideration				2,966
Goodwill				2,710
Cash paid for acquisition			$ 1,000	3,000
Contingent consideration arrangement				1,000
Yoke \| Customer relationships
Business Acquisition [Line Items]
Intangible assets acquired				300
Yoke \| Trade Names
Business Acquisition [Line Items]
Intangible assets acquired				100
Yoke \| Developed Technology Rights
Business Acquisition [Line Items]
Intangible assets acquired				$ 900

Consolidated Statements of Convertible Preferred Stock and Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Convertible Preferred Stock, beginning balance (in shares) at Jun. 30, 2021	445,063
Convertible Preferred Stock, beginning balance at Jun. 30, 2021	$ 3,138
Convertible Preferred Stock, ending balance (in shares) at Jun. 30, 2022	445,063
Convertible Preferred Stock, ending balance at Jun. 30, 2022	$ 3,138
Beginning balance (in shares) at Jun. 30, 2021		71,258,047
Beginning balance at Jun. 30, 2021	151,393	$ 0	$ 462,775	$ (311,382)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	$ 6,249		6,249
Vesting of restricted stock (in shares)		127,674
Exercise of stock options (in shares)	121,248	122,155
Exercise of stock options	$ 894		894
Retirement of stock (in shares)		(319,823)
Common stock issued for acquisition	0
Other comprehensive loss	0
Net income (loss)	(1,703)			(1,703)
Ending balance (in shares) at Jun. 30, 2022		71,188,053
Ending balance at Jun. 30, 2022	$ 156,833	$ 0	469,918	(313,085)	0
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 Jun. 30, 2023	385,782
Convertible Preferred Stock, ending balance at Jun. 30, 2023	$ 2,720
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	4,633		4,633
Vesting of restricted stock (in shares)		235,491
Repurchase of Series A convertible preferred stock	$ (1,733)		(1,733)
Exercise of stock options (in shares)	0
Common stock issued for acquisition (in shares)		1,240,920
Common stock issued for acquisition	$ 4,506		4,506
Other comprehensive loss	0
Net income (loss)	633			633
Ending balance (in shares) at Jun. 30, 2023		72,664,464
Ending balance at Jun. 30, 2023	$ 164,872	$ 0	477,324	(312,452)	0
Convertible Preferred Stock, ending balance (in shares) at Jun. 30, 2024	385,782
Convertible Preferred Stock, ending balance at Jun. 30, 2024	$ 2,720
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	$ 4,890		4,890
Vesting of restricted stock (in shares)		252,699
Exercise of stock options (in shares)	18,334	18,334
Exercise of stock options	$ 115		115
Common stock issued for acquisition	0
Other comprehensive loss	(124)				(124)
Net income (loss)	11,993			11,993
Ending balance (in shares) at Jun. 30, 2024		72,935,497
Ending balance at Jun. 30, 2024	$ 181,746	$ 0	$ 482,329	$ (300,459)	$ (124)

FINANCE RECEIVABLES - Schedule of Credit Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 2,098	$ 760
Provision for expected losses	(164)	1,626
Write-offs	0	(288)
Balance, end of period	$ 1,934	$ 2,098

- Definition

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

+ References + Details

LEASES - Components of Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Operating lease costs	$ 2,520	$ 2,490	$ 1,923
Variable lease, cost	$ 400	$ 400	$ 400

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Jun. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On September 5, 2024, the Company acquired SB Software Limited, a United Kingdom private limited Company, for an estimated aggregate base purchase price of approximately $13 million, including approximately $3 million in consideration contingent upon achievement of certain revenue targets over the next three years. The acquired company is in the businesses of vending machine and coffee machine management in the United Kingdom. Due to the limited amount of time since the acquisition date, the preliminary acquisition valuation for the acquisition is incomplete at this time. As a result, the Company is unable to provide the amounts recognized as of the acquisition date for the major classes of assets acquired and liabilities assumed. The Company expects to have preliminary allocations of the purchase consideration to the assets acquired and liabilities assumed in the first quarter ended September 30, 2024.

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Additional amortization associated with the increase in fair value of recognized intangible assets	$ 5.6	$ 5.0	$ 3.3

INCOME TAXES - Summary of Benefit (Provision) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Current:
Federal	$ (65)	$ 0	$ 0
State	(729)	(92)	(179)
Foreign	0	0	0
Total current	(794)	(92)	(179)
Deferred:
Federal	(248)	(62)	(18)
State	57	(27)	11
Foreign	0	0	0
Total deferred	(191)	(89)	(7)
Total income tax provision	$ (985)	$ (181)	$ (186)

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Net income (loss)	$ 11,993	$ 633	$ (1,703)
Foreign currency translation adjustments	(124)	0	0
Other comprehensive loss	(124)	0	0
Total comprehensive income (loss)	$ 11,869	$ 633	$ (1,703)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

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

+ References

+ Details

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-SubTopic 10
-Topic 505
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 6
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 10
-Name Accounting Standards Codification
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-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147482765/220-10-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-SubTopic 10
-Topic 220
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482739/220-10-55-15

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

+ Details

RELATED PARTY DISCLOSURES (Details) - USD ($) $ in Millions	12 Months Ended
RELATED PARTY DISCLOSURES (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Related Party Transactions [Abstract]
Cost of subscription and transaction fees	$ 0.2	$ 0.4	$ 1.1

FINANCE RECEIVABLES - Information Regarding Finance Receivables (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Receivables [Abstract]
Current finance receivables, net	$ 6,391	$ 6,668
Finance receivables due after one year, net	10,036	13,307
Total finance receivables	16,427	19,975
Finance receivables, allowance	$ 1,934	$ 2,098	$ 760

- Definition

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

+ References + Details

PROPERTY AND EQUIPMENT, NET - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Internal-use software
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, excluding lessor asset under operating lease, before accumulated depreciation, projects not yet placed in service	$ 9.2	$ 6.9
Cost of sales
Property, Plant and Equipment [Line Items]
Depreciation expense	1.6	1.2	$ 1.0
Operating expenses
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 5.0	$ 2.6	$ 1.1

STOCK-BASED COMPENSATION - Summary of Stock Based Compensation Plans (Details)	Jun. 30, 2024 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	12,000,000
Conversions of Preferred Stock and cumulative Preferred Stock dividends (in shares)	95,558
Total shares reserved for future issuance (in shares)	235,558
Total options available for future issuance (in shares)	4,555,111
2014 Stock Option Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total options available for future issuance (in shares)	15,687
2015 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total options available for future issuance (in shares)	369,157
2018 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total options available for future issuance (in shares)	4,170,267
June 2014 \| 2014 Stock Option Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	750,000
June 2015 \| 2015 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	1,250,000
April 2018 \| 2018 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	10,000,000
Former CEO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of shares (in shares)	140,000

ACCOUNTS RECEIVABLE (Tables)

12 Months Ended

Jun. 30, 2024

Receivables [Abstract]

Rollforward of the Allowance for Credit Losses

The following table represents a rollforward of the allowance for credit losses for the years ending June 30, 2024 and 2023:


	Year ended June 30,
($ in thousands)	2024		2023
Balance, beginning of year	$	10,815	$	9,328
Provision for expected losses	4,024		4,190
Write-offs	(1,397)		(2,703)
Balance, end of year	$	13,442	$	10,815

REVENUE - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
REVENUE - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue from contract with customer, excluding assessed tax	$ 268,596	$ 243,641	$ 205,202
Contract with customer, asset, after allowance for credit loss	$ 2,600	600	0
Lessor, operating lease term	36 months
Amortization of capitalized contract costs	$ 1,000	800
Prepaid Expenses and Other Current Assets
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Capitalized costs to obtain contracts	900	600
Noncurrent Assets
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Capitalized costs to obtain contracts	2,400	2,800
Non-US
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue from contract with customer, excluding assessed tax	$ 2,400	$ 500	$ 0

- Definition

+ References

+ Details

STOCK-BASED COMPENSATION - Summary of Valuation Assumption (Details) - Stock options	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility, minimum	52.60%	74.60%	73.20%
Expected volatility, maximum	69.70%	77.60%	74.60%
Expected dividends	0.00%	0.00%	0.00%
Risk-free interest rate, minimum	4.00%	2.70%	1.00%
Risk-free interest rate, maximum	4.40%	4.10%	2.90%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life	4 years 2 months 12 days	4 years 4 months 24 days	4 years 6 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life	4 years 6 months	4 years 7 months 6 days	4 years 7 months 6 days

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 30, 2024
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. SEC Inquiries and Settlements Beginning in the fiscal year 2019, the Company received inquiries from the SEC into the facts and circumstances arising from accounting practices in fiscal years 2017 and 2018 ("2019 Investigation"). The Company fully cooperated with these inquiries. During fiscal year 2023, the Company reached a settlement with the SEC to resolve its 2019 Investigation. As part of the settlement, the Company agreed to neither admit nor deny the findings in the SEC’s final order, and agreed to a cease-and-desist order with a civil monetary penalty payment of $1.5 million. The penalty payment was fully paid to the SEC as of June 30, 2023. During fiscal year 2023, the Company received a $2.0 million reimbursement from its directors and officers (D&O) insurance policy for legal fees and expenses incurred in connection with the 2019 Investigation. The D&O reimbursement proceeds were recorded as a reduction of "Investigation, proxy and restatement expenses, net of insurance recoveries" on the Company's Consolidated Statement of Operations for the fiscal year ended June 30, 2023. Additionally, in fiscal year 2024, the Company agreed to an additional net settlement of approximately $1.5 million with a third party insurance carrier related to the reimbursement of expenses associated with the closed SEC investigation. The additional settlement proceeds were recorded as a reduction of "Investigation, proxy and restatement expenses, net of insurance recoveries" on the Company's Consolidated Statement of Operations for the fiscal year ended June 30, 2024. The matter is now fully closed. Purchase Commitments As of June 30, 2024, the Company had no material firm purchase commitments over the next year.

ACQUISITIONS - Summary of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Feb. 01, 2024	Jun. 30, 2023	Dec. 01, 2022	Aug. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 94,903		$ 92,005
Three Square Market, Inc.
Business Acquisition [Line Items]
Cash and cash equivalents	391
Accounts receivable	1,780
Inventories	2,011
Intangible assets	15,538
Other assets	629
Total identifiable assets acquired	20,349
Accounts payable	(2,410)
Tax liabilities	(3,033)
Total liabilities assumed	(5,443)
Total identifiable net assets	14,906
Goodwill				$ 26,205
Fair value of total consideration transferred	$ 41,111
Cheq Lifestyle Technology, Inc.
Business Acquisition [Line Items]
Cash and cash equivalents		$ 84
Property and equipment		1,136
Intangible assets		1,750
Other assets		486
Total identifiable assets acquired		3,456
Accounts payable		(691)
Other liabilities		(52)
Total liabilities assumed		(743)
Total identifiable net assets		2,713
Goodwill		2,000
Fair value of total consideration transferred		$ 4,713
Yoke
Business Acquisition [Line Items]
Intangible assets					$ 1,235
Total net assets acquired					21
Total identifiable net assets					1,256
Goodwill					$ 2,710

PROPERTY AND EQUIPMENT, NET - Summary of Property and Equipment at Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Useful life, rental program	5 years	5 years
Property and equipment, cost, rental program, Cost	$ 32,513	$ 28,398
Property, plant and equipment, gross, Cost	77,063	63,130
Property and equipment used for rental program, Accumulated Depreciation	(24,742)	(23,221)
Property, plant, and equipment, Accumulated Depreciation	(43,034)	(37,849)
Net	7,771	5,177
Property, plant, and equipment, Net	34,029	25,281
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, excluding lessor asset under operating lease, before accumulated depreciation, Cost	7,588	8,089
Property, plant, and equipment, excluding lessor asset under operating lease, Accumulated Depreciation	(6,994)	(7,443)
Property, plant, and equipment, excluding lessor asset under operating lease, Net	594	646
Internal-use software
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, excluding lessor asset under operating lease, before accumulated depreciation, Cost	34,666	24,294
Property, plant, and equipment, excluding lessor asset under operating lease, Accumulated Depreciation	(9,472)	(5,107)
Property, plant, and equipment, excluding lessor asset under operating lease, Net	25,194	19,187
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, excluding lessor asset under operating lease, before accumulated depreciation, Cost	1,862	1,559
Property, plant, and equipment, excluding lessor asset under operating lease, Accumulated Depreciation	(1,466)	(1,474)
Property, plant, and equipment, excluding lessor asset under operating lease, Net	396	85
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, excluding lessor asset under operating lease, before accumulated depreciation, Cost	434	790
Property, plant, and equipment, excluding lessor asset under operating lease, Accumulated Depreciation	(360)	(604)
Property, plant, and equipment, excluding lessor asset under operating lease, Net	$ 74	$ 186
Property, Plant, and Equipment, Useful Life, Term, Description [Extensible Enumeration]	Useful Life, Shorter of Lease Term or Asset Utility [Member]	Useful Life, Shorter of Lease Term or Asset Utility [Member]
Minimum \| Computer equipment and software
Property, Plant and Equipment [Line Items]
Useful life	3 years	3 years
Minimum \| Internal-use software
Property, Plant and Equipment [Line Items]
Useful life	3 years	3 years
Minimum \| Furniture and equipment
Property, Plant and Equipment [Line Items]
Useful life	3 years	3 years
Maximum \| Computer equipment and software
Property, Plant and Equipment [Line Items]
Useful life	7 years	7 years
Maximum \| Internal-use software
Property, Plant and Equipment [Line Items]
Useful life	5 years	5 years
Maximum \| Furniture and equipment
Property, Plant and Equipment [Line Items]
Useful life	7 years	7 years

EARNINGS (LOSS) PER SHARE CALCULATION - Narrative (Details) - shares shares in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Antidilutive shares excluded from the calculation of diluted loss per shares (in shares)	0	4	5

PROPERTY AND EQUIPMENT, NET

12 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

Property and equipment consisted of the following:


		As of June 30, 2024
($ in thousands)	Useful Lives	Cost		Accumulated Depreciation		Net
Computer equipment and software	3-7 years	$	7,588	$	(6,994)	$	594
Internal-use software	3-5 years	34,666		(9,472)		25,194
Property and equipment used for rental program	5 years	32,513		(24,742)		7,771
Furniture and equipment	3-7 years	1,862		(1,466)		396
Leasehold improvements	(a)	434		(360)		74
		$	77,063	$	(43,034)	$	34,029


		As of June 30, 2023
($ in thousands)	Useful Lives	Cost		Accumulated Depreciation		Net
Computer equipment and software	3-7 years	$	8,089	$	(7,443)	$	646
Internal-use software	3-5 years	24,294		(5,107)		19,187
Property and equipment used for rental program	5 years	28,398		(23,221)		5,177
Furniture and equipment	3-7 years	1,559		(1,474)		85
Leasehold improvements	(a)	790		(604)		186
		$	63,130	$	(37,849)	$	25,281

(a) Lesser of lease term or estimated useful life

The Company's total depreciation expense is comprised of depreciation included in our Cost of subscription and transaction fees for rental equipment and depreciation included in our operating expenses. Depreciation expense included within Cost of subscription and transaction fees for rental equipment was $1.6 million, $1.2 million, and $1.0 million for the years ended June 30, 2024, 2023, and 2022, respectively. Depreciation expense included within operating expenses for the years ended June 30, 2024, 2023, and 2022 was $5.0 million, $2.6 million and $1.1 million, respectively.

Internal-use software above included $9.2 million and $6.9 million in projects not yet placed in service as of June 30, 2024 and 2023, respectively.

BUSINESS	12 Months Ended
BUSINESS	Jun. 30, 2024
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.

SHAREHOLDER'S EQUITY AND PREFERRED STOCK - Additional Information (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2024 USD ($) vote $ / shares shares	Jun. 30, 2023 USD ($) shares	Jun. 30, 2022 USD ($)
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	640,000,000	640,000,000
Common stock, number of votes per share \| vote	1
Common stock, shares issued (in shares)	72,935,497	72,664,464
Common stock, shares outstanding (in shares)	72,935,497	72,664,464
Convertible preferred stock, shares authorized (in shares)	900,000	900,000
Retirement of preferred stock, value \| $		$ 1,733
Repurchase of Series A Convertible Preferred Stock \| $	$ 0	2,151	$ 0
Amount in excess of fair value of preferred stock \| $		$ 300
Liquidation price to be received by series A preferred stock holder for each outstanding share plus all cumulative unpaid dividends (in USD per share) \| $ / shares	$ 10.00
Convertible Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	1,800,000
Convertible preferred stock, shares authorized (in shares)	900,000
Convertible preferred stock, shares not designated (in shares)	900,000
Preferred stock, voting percentage	0.1988
Series A preferred stock annual cumulative dividend price per share (in USD per share) \| $ / shares	$ 1.50
Series A preferred stock, redemption price per share (in USD per share) \| $ / shares	11.00
Cumulative unpaid dividends converted into common shares (in USD per share) \| $ / shares	$ 1,000
Preferred Class A
Class of Stock [Line Items]
Retirement of preferred stock (in shares)		59,281
Retirement of preferred stock, value \| $		$ 2,450
Convertible 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

LEASES

12 Months Ended

Jun. 30, 2024

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 June 30, 2024		As of June 30, 2023

Assets
Operating leases	Operating lease right-of-use assets	7,986		$	2,575

Liabilities
Current	Accrued expenses	1,320		1,266
Long-term	Operating lease liabilities, non-current	8,457		2,504
Total lease liabilities		$	9,777	$	3,770

Components of lease cost are as follows:


	Year ended June 30,
($ in thousands)	2024		Year ended	2023		Year ended	2022

Operating lease costs*	$	2,520		$	2,490		$	1,923

* Includes variable lease costs of $0.4 million for the years ended June 30, 2024, 2023 and 2022.

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


	Year ended June 30,
($ in thousands)	2024		2023		2022

Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	2,278	$	2,522	$	1,737

Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations
Operating lease	$	6,657	$	1,607	$	471

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


	Year ended June 30,
	2024		2023
Weighted-average remaining lease term (years)
Operating leases	7.3		3.2

Weighted-average discount rate
Operating leases	8.2	%	7.5	%

Maturities of operating lease liabilities by fiscal year for our leases as of June 30, 2024 are as follows:


($ in thousands)	Amount
2025	$	1,637
2026	2,266
2027	1,839
2028	1,352
2029	1,388
Thereafter	5,469
Total lease payments	$	13,951
Less: Imputed interest	(4,174)
Present value of lease liabilities	$	9,777

In connection with the acquisition of 32M described in Note 10 - Acquisitions, the Company entered into additional operating leases for office space located in River Falls, Wisconsin and Birmingham, UK. These leases commenced on December 31, 2022 with a term of 48-months.

In connection with the acquisition of Cheq described in Note 10 - Acquisitions, the Company acquired an operating lease for office space located in Seattle, Washington. This lease commenced on February 1, 2024 with a term of 11-months.

In February 2023, the Company extended its existing Atlanta, Georgia office operating lease for an additional 73-months period including rent free periods.

In May 2023, the Company signed a new lease for its corporate office in Malvern, Pennsylvania. The new lease commenced on February 15, 2024 with a term of 133-months.

Lessor accounting

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


	As of June 30,
($ in thousands)	2024		2023
Cost	$	32,513	$	28,398
Accumulated depreciation	(24,742)		(23,221)
Net	$	7,771	$	5,177

The Company’s net investment in sales-type leases (carrying value of lease receivables) and the future minimum amounts to be collected on these lease receivables as of June 30, 2024 are disclosed within Note 4, Finance Receivables.

The Company also is the sublessor for office space in Denver, Colorado and Metairie, Louisiana. Sublessor rental income was $0.8 million, $0.8 million, and $0.6 million for the years ended June 30, 2024, 2023, and 2022, respectively.

LEASES

Lessee accounting


($ in thousands)	Balance Sheet Classification	As of June 30, 2024		As of June 30, 2023

Assets
Operating leases	Operating lease right-of-use assets	7,986		$	2,575

Liabilities
Current	Accrued expenses	1,320		1,266
Long-term	Operating lease liabilities, non-current	8,457		2,504
Total lease liabilities		$	9,777	$	3,770

Components of lease cost are as follows:


	Year ended June 30,
($ in thousands)	2024		Year ended	2023		Year ended	2022

Operating lease costs*	$	2,520		$	2,490		$	1,923

* Includes variable lease costs of $0.4 million for the years ended June 30, 2024, 2023 and 2022.

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


	Year ended June 30,
($ in thousands)	2024		2023		2022

Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	2,278	$	2,522	$	1,737

Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations
Operating lease	$	6,657	$	1,607	$	471

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


	Year ended June 30,
	2024		2023
Weighted-average remaining lease term (years)
Operating leases	7.3		3.2

Weighted-average discount rate
Operating leases	8.2	%	7.5	%

Maturities of operating lease liabilities by fiscal year for our leases as of June 30, 2024 are as follows:


($ in thousands)	Amount
2025	$	1,637
2026	2,266
2027	1,839
2028	1,352
2029	1,388
Thereafter	5,469
Total lease payments	$	13,951
Less: Imputed interest	(4,174)
Present value of lease liabilities	$	9,777

In February 2023, the Company extended its existing Atlanta, Georgia office operating lease for an additional 73-months period including rent free periods.

In May 2023, the Company signed a new lease for its corporate office in Malvern, Pennsylvania. The new lease commenced on February 15, 2024 with a term of 133-months.

Lessor accounting

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


	As of June 30,
($ in thousands)	2024		2023
Cost	$	32,513	$	28,398
Accumulated depreciation	(24,742)		(23,221)
Net	$	7,771	$	5,177

LEASES

Lessee accounting


($ in thousands)	Balance Sheet Classification	As of June 30, 2024		As of June 30, 2023

Assets
Operating leases	Operating lease right-of-use assets	7,986		$	2,575

Liabilities
Current	Accrued expenses	1,320		1,266
Long-term	Operating lease liabilities, non-current	8,457		2,504
Total lease liabilities		$	9,777	$	3,770

Components of lease cost are as follows:


	Year ended June 30,
($ in thousands)	2024		Year ended	2023		Year ended	2022

Operating lease costs*	$	2,520		$	2,490		$	1,923

* Includes variable lease costs of $0.4 million for the years ended June 30, 2024, 2023 and 2022.

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


	Year ended June 30,
($ in thousands)	2024		2023		2022

Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	2,278	$	2,522	$	1,737

Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations
Operating lease	$	6,657	$	1,607	$	471

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


	Year ended June 30,
	2024		2023
Weighted-average remaining lease term (years)
Operating leases	7.3		3.2

Weighted-average discount rate
Operating leases	8.2	%	7.5	%

Maturities of operating lease liabilities by fiscal year for our leases as of June 30, 2024 are as follows:


($ in thousands)	Amount
2025	$	1,637
2026	2,266
2027	1,839
2028	1,352
2029	1,388
Thereafter	5,469
Total lease payments	$	13,951
Less: Imputed interest	(4,174)
Present value of lease liabilities	$	9,777

In February 2023, the Company extended its existing Atlanta, Georgia office operating lease for an additional 73-months period including rent free periods.

In May 2023, the Company signed a new lease for its corporate office in Malvern, Pennsylvania. The new lease commenced on February 15, 2024 with a term of 133-months.

Lessor accounting

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


	As of June 30,
($ in thousands)	2024		2023
Cost	$	32,513	$	28,398
Accumulated depreciation	(24,742)		(23,221)
Net	$	7,771	$	5,177

GOODWILL AND INTANGIBLE ASSETS - Summary of Amortizable Intangible Asset (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, Gross	$ 49,447	$ 47,063
Amortizable intangible assets, Accumulated Amortization	(24,821)	(19,251)
Amortizable intangible assets, Net	24,626	27,812
Goodwill, Gross	94,903	92,005
Goodwill, Net	$ 94,903	$ 92,005
Weighted Average Useful Life (Years)	7 years 2 months 12 days	7 years 10 months 24 days
Brand and trade names
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, Gross	$ 2,361	$ 2,161
Amortizable intangible assets, Accumulated Amortization	(1,852)	(1,414)
Amortizable intangible assets, Net	$ 509	$ 747
Weighted Average Useful Life (Years)	1 year 7 months 6 days	2 years
Developed technology
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, Gross	$ 20,062	$ 20,188
Amortizable intangible assets, Accumulated Amortization	(13,304)	(11,066)
Amortizable intangible assets, Net	$ 6,758	$ 9,122
Weighted Average Useful Life (Years)	3 years 7 months 6 days	4 years 1 month 6 days
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, Gross	$ 27,024	$ 24,714
Amortizable intangible assets, Accumulated Amortization	(9,665)	(6,771)
Amortizable intangible assets, Net	$ 17,359	$ 17,943
Weighted Average Useful Life (Years)	8 years 9 months 18 days	10 years 1 month 6 days

LEASES - Property and Equipment Costs (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Cost	$ 32,513	$ 28,398
Accumulated depreciation	(24,742)	(23,221)
Net	$ 7,771	$ 5,177

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Tax Credit Carryforward [Line Items]
Tax at U.S Federal statutory rate	21.00%	21.00%	21.00%
Unrecognized tax benefits	$ 799	$ 689	$ 572	$ 444
Domestic Tax Jurisdiction
Tax Credit Carryforward [Line Items]
Operating loss carryforwards	159,000	179,000
Operating loss carryforwards, not subject to expiration	64,000
Operating loss carryforwards, subject to expiration	95,000
State and Local Jurisdiction
Tax Credit Carryforward [Line Items]
Operating loss carryforwards	91,000	$ 112,000
Operating loss carryforwards, not subject to expiration	10,000
Operating loss carryforwards, subject to expiration	$ 81,000

REVENUE - Contract Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Deferred revenue, beginning of the period	$ 1,666	$ 1,893
Deferred revenue, end of the period	1,726	1,666
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period	$ 617	$ 576

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Civil monetary penalty payment	$ 1.5	$ 1.5
Insurance recoveries		$ 2.0
Purchase obligation	$ 0.0

INCOME TAXES - Components of Pre-Tax Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
U.S. income (loss)	$ 16,217	$ 996	$ (1,517)
Other income (loss)	(3,239)	(182)	0
Income (loss) before income taxes	$ 12,978	$ 814	$ (1,517)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
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-Section 50
-Paragraph 22
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

ACQUISITIONS (Tables)

12 Months Ended

Jun. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Business Acquisition

The following table summarizes the adjusted fair value assigned to the assets acquired and liabilities assumed as of June 30, 2024.


($ in thousands)	Amount
Cash and cash equivalents	$	84
Property and equipment	1,136
Intangible assets	1,750
Other assets	486
Total identifiable assets acquired	3,456
Accounts payable	(691)
Other liabilities	(52)
Total liabilities assumed	(743)
Total identifiable net assets	2,713
Goodwill	2,000
Fair value of total considerations transferred	$	4,713

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


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

The following table summarizes the final fair value assigned to the assets acquired and liabilities assumed as of June 30, 2024.


($ in thousands)	Amount
Cash and cash equivalents	$	391
Accounts receivable	1,780
Inventories	2,011
Intangible assets	15,538
Other assets	629
Total identifiable assets acquired	20,349
Accounts payable	(2,410)
Tax liabilities	(3,033)
Total liabilities assumed	(5,443)
Total identifiable net assets	14,906
Goodwill	26,205
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

Schedule of Pro Forma Operations Results

Furthermore, cost savings and other business synergies related to the acquisition are not reflected in the pro forma amounts.


	Year ended June 30,
($ In thousands)	2023		2022
Revenues	$	251,979	$	222,185
Net loss	(75)		(7,117)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net income (loss)	$ 11,993	$ 633	$ (1,703)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Stock-based compensation	5,109	4,737	6,248
Amortization of debt issuance costs and discounts	124	128	148
Provision for expected losses	3,861	5,815	3,471
Provision for inventory reserve	240	280	(397)
Depreciation and amortization	12,204	8,807	5,325
Property and equipment write-off	601	364	0
Noncash lease expense	1,246	0	0
Deferred income taxes and other	192	(116)	686
Changes in operating assets and liabilities:
Accounts receivable	(18,542)	4,960	(13,649)
Finance receivables	3,712	(32)	(1,884)
Inventory	(9,447)	(10,387)	(14,064)
Prepaid expenses and other assets	(4,035)	(180)	(4,262)
Accounts payable and accrued expenses	21,131	(458)	12,153
Operating lease liabilities	(651)	(133)	(907)
Deferred revenue	7	(226)	130
Net cash provided by (used in) operating activities	27,745	14,192	(8,705)
Cash flows from investing activities:
Capital expenditures	(14,935)	(16,151)	(9,260)
Acquisition of business, net of cash acquired	(3,701)	(35,714)	(2,966)
Net cash used in investing activities	(18,636)	(51,865)	(12,226)
Cash flows from financing activities:
Proceeds from long-term debt	0	25,000	738
Repayment of long-term debt	(954)	(1,270)	(606)
Contingent consideration paid for acquisition	0	(1,000)	0
Repurchase of Series A Convertible Preferred Stock	0	(2,151)	0
Payment of employee taxes related to stock-based compensation	(219)	(104)	0
Proceeds from exercise of common stock options	115	0	895
Payment of third-party debt issuance costs	0	0	(107)
Net cash (used in) provided by financing activities	(1,058)	20,475	920
Effect of currency exchange rate changes on cash and cash equivalents	(58)	0	0
Net increase (decrease) in cash and cash equivalents	7,993	(17,198)	(20,011)
Cash and cash equivalents at beginning of year	50,927	68,125	88,136
Cash and cash equivalents at end of year	58,920	50,927	68,125
Supplemental disclosures of cash flow information:
Interest paid in cash	3,656	2,641	755
Income taxes paid in cash	223	61	94
Common stock issued in business combination (non-cash financing activity)	$ 0	$ 4,506	$ 0

INCOME TAXES - Reconciliation of Effective Income Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Tax at U.S Federal statutory rate	$ (2,725)	$ (171)	$ 319
Stock compensation	24	(688)	(184)
Other permanent differences	(81)	(497)	(106)
State income taxes, net of federal benefit	(613)	(296)	(275)
Changes related to prior years	0	51	0
Changes related to state tax rates	0	(2,455)	0
Changes in valuation allowances	2,281	3,942	184
Statutory Rates Different from U.S.	183	0	0
Other	(54)	(67)	(124)
Total income tax provision	$ (985)	$ (181)	$ (186)

RETIREMENT PLAN	12 Months Ended
RETIREMENT PLAN	Jun. 30, 2024
Retirement Benefits [Abstract]
RETIREMENT PLAN	RETIREMENT PLANThe Company’s 401(k) Plan (the “Retirement Plan”) allows employees to make voluntary contributions, beginning on their first day of active employment, up to a maximum of 100% of their annual compensation, as defined in the Retirement Plan. The Company may, in its discretion, make a matching contribution, a profit-sharing contribution, a qualified non-elective contribution, and/or a safe harbor 401(k) contribution to the Retirement Plan. The Company must make an annual election, at the beginning of the plan year, as to whether it will make a safe harbor contribution to the plan. In fiscal years 2024, 2023 and 2022, the Company elected and made safe harbor matching contributions of 100% of the participant’s first 3% and 50% of the next 2% of compensation deferred into the Retirement Plan. The Company’s safe harbor contributions for the years ended June 30, 2024, 2023 and 2022 approximated $0.9 million, $0.8 million and $0.7 million, respectively, and are included within General and administrative expenses within our Consolidated Statements of Operations.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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-URI https://asc.fasb.org/1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

STOCK-BASED COMPENSATION - Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 5,109	$ 4,737	$ 6,248
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	2,992	2,967	4,424
Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 2,117	$ 1,770	$ 1,824

- 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

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	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 value	$ 22,722	$ 22,144
Common stock, shares authorized (in shares)	640,000,000	640,000,000
Common stock, shares issued (in shares)	72,935,497	72,664,464
Common stock, shares outstanding (in shares)	72,935,497	72,664,464

Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Jun. 30, 2024	Sep. 06, 2024	Dec. 31, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jun. 30, 2024
Current Fiscal Year End Date	--06-30
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	101 Lindenwood Drive
Entity Address, City or Town	Malvern,
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19355
City Area Code	610
Local Phone Number	989‑0340
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	CTLP
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 382.8
Entity Common Stock, Shares Outstanding		72,986,172
Documents Incorporated by Reference	Selected portions of the registrant’s definitive proxy statement on Schedule 14A for the registrant’s 2024 annual meeting of stockholders, which will be filed with the Securities and Exchange Commission within 120 days of June 30, 2024, are incorporated by reference into Part III of this Annual Report on Form 10-K.
Entity Central Index Key	0000896429
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY

ACCOUNTS RECEIVABLE

12 Months Ended

Jun. 30, 2024

Receivables [Abstract]

ACCOUNTS RECEIVABLE

Accounts receivable primarily include amounts due to the Company for sales of equipment and subscription fees to customers, 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 $43.8 million as of June 30, 2024 and $30.2 million as of June 30, 2023.

Concentrations

As of June 30, 2024 and June 30, 2023, no customer represented more than 10% of the Company's accounts receivable, net of allowance.

Allowance for credit losses

The following table represents a rollforward of the allowance for credit losses for the years ending June 30, 2024 and 2023:


	Year ended June 30,
($ in thousands)	2024		2023
Balance, beginning of year	$	10,815	$	9,328
Provision for expected losses	4,024		4,190
Write-offs	(1,397)		(2,703)
Balance, end of year	$	13,442	$	10,815

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 58,920	$ 50,927
Accounts receivable, net	43,848	30,162
Finance receivables, net	6,391	6,668
Inventory	40,791	31,872
Prepaid expenses and other current assets	7,844	3,754
Total current assets	157,794	123,383
Non-current assets:
Finance receivables, net	10,036	13,307
Property and equipment, net	34,029	25,281
Operating lease right-of-use assets	7,986	2,575
Intangibles, net	24,626	27,812
Goodwill	94,903	92,005
Other assets	6,194	5,249
Total non-current assets	177,774	166,229
Total assets	335,568	289,612
Current liabilities:
Accounts payable	78,895	52,869
Accrued expenses	24,008	26,276
Current obligations under long-term debt	1,266	882
Deferred revenue	1,726	1,666
Total current liabilities	105,895	81,693
Long-term liabilities:
Deferred income taxes	466	275
Long-term debt	36,284	37,548
Operating lease liabilities	8,457	2,504
Total long-term liabilities	45,207	40,327
Total liabilities	151,102	122,020
Commitments and contingencies (Note 18)
Series A convertible preferred stock, 900,000 shares authorized, 385,782 and 385,782 issued and outstanding, with liquidation preferences of $22,722 and $22,144 at June 30, 2024 and 2023, respectively	2,720	2,720
Shareholders’ equity:
Common stock, no par value, 640,000,000 shares authorized, 72,935,497 and 72,664,464 shares issued and outstanding at June 30, 2024 and 2023, respectively	0	0
Additional paid-in capital	482,329	477,324
Accumulated deficit	(300,459)	(312,452)
Accumulated other comprehensive loss	(124)	0
Total shareholders’ equity	181,746	164,872
Total liabilities, convertible preferred stock, and shareholders’ equity	$ 335,568	$ 289,612

STOCK-BASED COMPENSATION - Company Nonvested Common Shares (Details) - $ / shares	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Shares
Nonvested beginning balance (in shares)	423,901	448,908	137,846
Granted (in shares)	439,363	346,346	507,729
Vested (in shares)	(311,093)	(274,011)	(101,515)
Forfeited (in shares)	(4,207)	(97,342)	(95,152)
Nonvested ending balance (in shares)	547,964	423,901	448,908
Weighted-Average Grant-Date Fair Value
Nonvested beginning balance (in USD per share)	$ 6.08	$ 7.00	$ 9.57
Granted (in USD per share)	6.72	5.41	7.33
Vested (in USD per share)	6.38	5.96	10.34
Forfeited (in USD per share)	7.58	8.27	8.89
Nonvested ending balance (in USD per share)	$ 6.41	$ 6.08	$ 7.00

ACCOUNTS RECEIVABLE - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Receivables [Abstract]
Accounts receivable	$ 43,848	$ 30,162

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)	12 Months Ended
	Jun. 30, 2024 USD ($) segment	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
Property, Plant and Equipment [Line Items]
Number of reportable segments \| segment	1
Notes receivable or quick start leases term of contract	60 months
Inventory reserve	$ 2,200,000	$ 2,300,000
Goodwill, impairment loss	0	0	$ 0
Indefinite-lived intangible assets (excluding goodwill)	0	0
Impairment of intangible and long-lived assets	0	0
Revenue from contract with customer, excluding assessed tax	$ 268,596,000	243,641,000	205,202,000
Term of non-cancelable lease with agreement	5 years
Lessor, operating lease term	36 months
Contract with customer, asset, after allowance for credit loss	$ 2,600,000	600,000	0.0
Lessor, sales-type lease term	60 months
Advertising costs	$ 1,900,000	800,000	700,000
Research and development expense	$ 3,000,000.0	$ 3,500,000	3,500,000
Estimated useful life	7 years 2 months 12 days	7 years 10 months 24 days
Customer One \| Revenue Benchmark \| Revenue from Rights Concentration Risk
Property, Plant and Equipment [Line Items]
Revenue from contract with customer, excluding assessed tax	$ 24,600,000	$ 28,700,000	$ 29,700,000
Concentration risk	9.00%	12.00%	14.00%
Minimum
Property, Plant and Equipment [Line Items]
Amortization period	3 years
Payment terms	30 days
Lease term	1 year
Minimum \| Internal-use software
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Minimum \| Cloud computing arrangements
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Maximum
Property, Plant and Equipment [Line Items]
Amortization period	18 years
Payment terms	60 days
Lease term	8 years
Maximum \| Internal-use software
Property, Plant and Equipment [Line Items]
Estimated useful life	7 years
Maximum \| Cloud computing arrangements
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS	Jun. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTSThe carrying amounts of certain of the Company’s financial instruments, including cash equivalents, accounts receivable, accounts payable and accrued expenses, are carried at cost which approximates fair value due to their liquid or short-term nature. We have not identified material factors that would significantly impact the fair value of our financial assets and liabilities. The Company’s obligations under its long-term debt agreements are carried at amortized cost, which approximates their fair value as of June 30, 2024, as the debt facility was recently amended in March and December, 2022 and the interest rates applicable are variable in nature. The fair value of the Company’s obligations under its long-term debt agreements with JPMorgan were considered Level 2 liabilities of the fair value hierarchy because these instruments have interest rates that reset frequently.

- Definition

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

+ References

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+ Details

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 2,278	$ 2,522	$ 1,737
Operating lease	$ 6,657	$ 1,607	$ 471