0001628280-24-046366 | 10-Q | XBRL Viewer

GOODWILL AND INTANGIBLES

3 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible asset balances and goodwill consisted of the following:


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

Intangible assets:
Brand and trade names	$	2,526	(1,971)		555		2.0
Developed technology	23,119		(13,792)		9,327		3.8
Customer relationships	27,217		(10,337)		16,880		8.6
Total intangible assets	$	52,862	$	(26,100)	$	26,762	6.8

Goodwill	$	102,708	$	—	$	102,708	Indefinite


	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

During the three months ended September 30, 2024 and September 30, 2023, the Company recognized $1.3 million and $1.6 million, respectively, in amortization expense related to intangible assets.

The Company performs an annual goodwill impairment test on April 1 and more frequently if events and circumstances indicate that the asset might be impaired. The Company has determined that there is one single reporting unit for purposes of testing goodwill for impairment. During the three ended September 30, 2024 and September 30, 2023, the Company did not recognize any impairment charges related to goodwill.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 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

ACQUISITIONS - Summary of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 05, 2024	Jun. 30, 2024	Feb. 01, 2024
Business Acquisition [Line Items]
Goodwill	$ 102,708		$ 94,903
SB Software
Business Acquisition [Line Items]
Cash and cash equivalents		$ 284
Accounts receivable		94
Inventory		42
Prepaid expenses		14
Property and equipment		67
Operating lease right-of-use assets		244
Intangible assets		3,362
Total identifiable assets acquired		4,107
Accounts payable		(71)
Accrued expenses		(152)
Operating lease liability		(244)
Total liabilities assumed		(467)
Total identifiable net assets		3,640
Goodwill		7,743
Fair value of total considerations transferred		$ 11,383
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 considerations transferred				$ 4,713

STOCK-BASED COMPENSATION - Schedule of Fair Value of Options (Details) - Stock options - $ / shares	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum expected volatility (percent)	50.50%	61.30%
Maximum expected volatility (percent)		69.70%
Dividend yield (percent)	0.00%	0.00%
Minimum risk-free interest rate (percent)	3.40%	4.20%
Maximum risk-free interest rate (percent)		4.30%
Number of options granted (in shares)	20,000	110,000
Weighted average exercise price (in dollars per share)	$ 6.35	$ 7.00
Weighted average grant date fair value (in dollars per share)	$ 2.88	$ 4.35
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average expected life (years)	4 years 6 months	4 years 2 months 12 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average expected life (years)		4 years 6 months

Condensed Consolidated Statements of Convertible Preferred Stock and Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Temporary Equity [Roll Forward]
Convertible Preferred Stock, beginning balance	$ 2,720
Convertible Preferred Stock, beginning balance (in shares) at Jun. 30, 2023	385,782
Convertible Preferred Stock, ending balance (in shares) at Sep. 30, 2023	385,782
Convertible Preferred Stock, ending balance at Sep. 30, 2023	$ 2,720
Beginning balance (in shares) at Jun. 30, 2023		72,664,464
Beginning balance at Jun. 30, 2023	164,872	$ 0	$ 477,324	$ (312,452)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1,934		1,934
Vesting of restricted stock (in shares)		20,801
Other comprehensive income	0
Exercise of stock options (in shares)		10,000
Exercise of stock options	74		74
Net income	2,007			2,007
Ending balance (in shares) at Sep. 30, 2023		72,695,265
Ending balance at Sep. 30, 2023	168,887	$ 0	479,332	(310,445)	0
Increase (Decrease) in Temporary Equity [Roll Forward]
Convertible Preferred Stock, beginning balance	2,720
Convertible Preferred Stock, beginning balance	$ 2,720
Convertible Preferred Stock, beginning balance (in shares) at Jun. 30, 2024	385,782
Convertible Preferred Stock, ending balance (in shares) at Sep. 30, 2024	385,782
Convertible Preferred Stock, ending balance at Sep. 30, 2024	$ 2,720
Beginning balance (in shares) at Jun. 30, 2024		72,935,497
Beginning balance at Jun. 30, 2024	181,746	$ 0	482,329	(300,459)	(124)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	723		723
Vesting of restricted stock (in shares)		50,675
Other comprehensive income	189				189
Net income	3,572			3,572
Ending balance (in shares) at Sep. 30, 2024		72,986,172
Ending balance at Sep. 30, 2024	186,230	$ 0	$ 483,052	$ (296,887)	$ 65
Increase (Decrease) in Temporary Equity [Roll Forward]
Convertible Preferred Stock, beginning balance	$ 2,720

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation From time to time, we may be 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. We do not expect any claims with a reasonably possible adverse outcome to have a material impact on us, and, accordingly, have not accrued for any material claims.

REVENUES - Schedule of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Revenues:	$ 70,836	$ 62,683
Subscription and transaction fees
Disaggregation of Revenue [Line Items]
Revenues:	63,792	55,135
Transaction fees
Disaggregation of Revenue [Line Items]
Revenues:	43,604	37,030
Subscription fees
Disaggregation of Revenue [Line Items]
Revenues:	20,188	18,105
Equipment sales
Disaggregation of Revenue [Line Items]
Revenues:	$ 7,044	$ 7,548

- Definition

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

+ References + Details

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4

+ Details

STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Sep. 30, 2024

Equity [Abstract]

Schedule of Stock Options Granted, Weighted Average Assumptions

The fair value of options granted during the three months ended September 30, 2024 and 2023 were determined using the following assumptions and includes only options with an established grant date under ASC 718:


	Three months ended September 30,
		2024			2023
Expected volatility (percent)		50.5%			61.3% - 69.7%
Weighted average expected life (years)		4.5			4.2 - 4.5
Dividend yield (percent)		0.0		%	0.0		%
Risk-free interest rate (percent)		3.4%			4.2% - 4.3%
Number of options granted		20,000			110,000
Weighted average exercise price		$	6.35		$	7.00
Weighted average grant date fair value		$	2.88		$	4.35

EARNINGS PER SHARE CALCULATION - Narrative (Details) - shares shares in Millions	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Antidilutive shares excluded from the calculation of diluted earnings per shares (in shares)	0.1	1.0

STOCK-BASED COMPENSATION

3 Months Ended

Sep. 30, 2024

Equity [Abstract]

STOCK-BASED COMPENSATION

Stock Options

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


	Three months ended September 30,
		2024			2023
Expected volatility (percent)		50.5%			61.3% - 69.7%
Weighted average expected life (years)		4.5			4.2 - 4.5
Dividend yield (percent)		0.0		%	0.0		%
Risk-free interest rate (percent)		3.4%			4.2% - 4.3%
Number of options granted		20,000			110,000
Weighted average exercise price		$	6.35		$	7.00
Weighted average grant date fair value		$	2.88		$	4.35

Stock-based compensation related to stock options with an established grant date for the three months ended September 30, 2024 and 2023 was $0.5 million and $1.1 million, respectively.

Restricted Stock Awards

The Company grants service based restricted stock awards to employees. The Company determines expense related to restricted stock awards using the closing stock price on the grant date and these awards are expensed under the accelerated attribution method over the vesting period which is typically a three-year service period. The total expense recognized for restricted stock awards for the three months ended September 30, 2024 and 2023 was $0.4 million and $0.5 million, respectively.

FINANCE RECEIVABLES - Summary of Finance Receivables Fiscal Years (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023
Receivables [Abstract]
Remainder of 2025	$ 5,480
2026	6,003
2027	4,043
2028	2,051
2029	770
Thereafter	85
Total amounts to be collected	18,432
Less: interest	(1,130)
Less: allowance for uncollectible receivables	(2,325)	$ (1,934)	$ (2,149)	$ (2,098)
Total finance receivables	$ 14,977

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Related Party Transactions [Abstract]
Cost of subscription and transaction fees	$ 0.1	$ 0.1

ACCRUED EXPENSES

3 Months Ended

Sep. 30, 2024

Payables and Accruals [Abstract]

ACCRUED EXPENSES

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


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

Sales tax reserve	$	9,891	$	9,947
Accrued compensation and related sales commissions	1,907		4,061
Operating lease liabilities - current	1,432		1,320
Accrued professional fees	3,496		4,336
Sales tax payable	1,969		2,123

Accrued other	1,136		851
Current portion of the fair value of SB Software contingent consideration*	542		—
Consideration withheld for the 32M acquisition	442		442
Consideration withheld for the Cheq acquisition*	928		928
Total accrued expenses	$	21,743	$	24,008

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

ACQUISITIONS - Narrative (Details) - USD ($) $ in Thousands			3 Months Ended
ACQUISITIONS - Narrative (Details) - USD ($) $ in Thousands	Sep. 05, 2024	Feb. 01, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2027	Sep. 30, 2026	Sep. 30, 2025	Jun. 30, 2024
Business Acquisition [Line Items]
Goodwill			$ 102,708					$ 94,903
Integration and acquisition expenses			197	$ 78
Acquisition of business, net of cash acquired			9,761	$ 0
SB Software
Business Acquisition [Line Items]
Business combination, consideration transferred	$ 11,400
Cash payment to acquire business	10,000
Business combination, contingent consideration, liability, present value	1,400
Business combination, contingent consideration, liability	3,300
Business combination, contingent consideration, liability, current			542					0
Business combination, contingent consideration, liability, noncurrent			800
Goodwill	7,743
SB Software \| Developed Technology
Business Acquisition [Line Items]
Intangible assets acquired	3,000
SB Software \| Customer relationships
Business Acquisition [Line Items]
Intangible assets acquired	200
Weighted average useful life		3 years
SB Software \| Trade names
Business Acquisition [Line Items]
Intangible assets acquired	$ 200
Weighted average useful life		3 years
SB Software \| Developed technology
Business Acquisition [Line Items]
Weighted average useful life		5 years
SB Software \| Forecast
Business Acquisition [Line Items]
Business combination, contingent consideration, liability					$ 1,000	$ 1,000	$ 1,300
Cheq Lifestyle Technology, Inc.
Business Acquisition [Line Items]
Business combination, consideration transferred		$ 4,700
Business combination, contingent consideration, liability, current			928					$ 928
Goodwill		2,000
Other payments to acquire businesses		1,100
Acquisition of business, net of cash acquired		900
Integration and acquisition costs			$ 1,100
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
Cheq Lifestyle Technology, Inc. \| Developed technology
Business Acquisition [Line Items]
Intangible assets acquired		$ 1,400

ACCRUED EXPENSES (Tables)

3 Months Ended

Sep. 30, 2024

Payables and Accruals [Abstract]

Schedule of Accrued Expenses

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


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

Sales tax reserve	$	9,891	$	9,947
Accrued compensation and related sales commissions	1,907		4,061
Operating lease liabilities - current	1,432		1,320
Accrued professional fees	3,496		4,336
Sales tax payable	1,969		2,123

Accrued other	1,136		851
Current portion of the fair value of SB Software contingent consideration*	542		—
Consideration withheld for the 32M acquisition	442		442
Consideration withheld for the Cheq acquisition*	928		928
Total accrued expenses	$	21,743	$	24,008

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

FINANCE RECEIVABLES (Tables)

3 Months Ended

Sep. 30, 2024

Receivables [Abstract]

Financing Receivable Credit Quality Indicators

At September 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		$	2,066	$	3,050	$	6,029	$	1,571	$	562	$	157	$	13,435
30 days and under		31		52		160		76		44		27		390
31 - 60 days		11		23		119		67		47		27		294
61 - 90 days		6		18		102		47		79		32		284
Greater than 90 days		9		122		1,040		235		279		1,214		2,899
Total finance receivables		$	2,123	$	3,265	$	7,450	$	1,996	$	1,011	$	1,457	$	17,302

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

Financing Receivable, Allowance for Credit Loss

The following table represents a rollforward of the allowance for finance receivables for the three months ended September 30, 2024 and 2023:


	Three months ended September 30,
($ in thousands)	2024		2023

Balance at June 30	$	1,934	$	2,098
Provision for expected losses	391		51

Balance at September 30	2,325		2,149

Schedule of Cash to be Collected on Performing Financing Receivable

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


($ in thousands)	Amount
Remainder of 2025	$	5,480
2026	6,003
2027	4,043
2028	2,051
2029	770
Thereafter	85
Total amounts to be collected	18,432
Less: interest	(1,130)
Less: allowance for uncollectible receivables	(2,325)
Total finance receivables	$	14,977

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Sep. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Preparation The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. The condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements and therefore should be read in conjunction with the Company’s June 30, 2024 Annual Report on Form 10-K. The Company has operations in the United States, Mexico and the United Kingdom. The functional currencies of our foreign wholly-owned subsidiaries are the local currencies. We translate the financial statements of these subsidiaries into U.S. dollars each reporting period for purposes of consolidation. Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates, assumptions and judgments that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. The Company evaluates these estimates on an ongoing basis. Estimates, judgments, and assumptions in these condensed consolidated financial statements 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, income taxes and sales tax reserves. See the Company's Annual Report, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations, section Critical Accounting Estimates. Reclassification Certain reclassifications have been made to prior year's reported amounts in order to conform to the current year presentation. These reclassifications did not impact our previously reported net income or stockholders’ equity. Recent Accounting Pronouncements ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures In December 2023, the FASB issued ASU 2023-09, which expands income tax disclosure requirements to include additional information related to the rate reconciliation of effective tax rates to statutory rates as well as additional disaggregation of taxes paid. The amendments in the ASU also remove disclosures related to certain unrecognized tax benefits and deferred taxes. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, which is the Company's fiscal year ended June 30, 2026. The amendments may be applied prospectively or retrospectively, and early adoption is permitted. We are currently assessing the impact of the requirements on our consolidated financial statements and disclosures. ASU 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures 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 any additional measures of a segment's profit or loss used by the CODM when deciding how to allocate resources. Annual disclosures are required for fiscal years beginning after December 15, 2023, which is the Company's fiscal year ended June 30, 2025. Interim disclosures are required for periods within fiscal years beginning after December 15, 2024, which is the Company's fiscal year ended June 30, 2026. 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. No other new accounting pronouncements, issued or effective during the period ended September 30, 2024, have had or are expected to have a significant impact on the Company’s financial statements.

LEASES - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Operating Leases
Remainder of 2025	$ 1,345
2026	2,405
2027	1,958
2028	1,456
2029	1,491
Thereafter	5,720
Total lease payments	14,375
Less: Imputed interest	(4,184)
Present value of lease liabilities	$ 10,191	$ 9,777

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 887	$ 1,932
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 500	1,100
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Stock-based compensation	$ 400	$ 500

- 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
-SubTopic 10
-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
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-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
-Topic 718
-SubTopic 10
-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
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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

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

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

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-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)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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

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

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-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
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-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
-Subparagraph (f)(2)(iii)
-Publisher FASB
-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
-Subparagraph (f)(2)(iv)
-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

EARNINGS PER SHARE CALCULATION (Tables)

3 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Loss per Share

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


	Three months ended September 30,
($ in thousands, except per share data)	2024		2023

Numerator for basic and diluted loss per share
Net income	$	3,572	2,007
Preferred dividends	(289)		(289)
Net income applicable to common shareholders	$	3,283	$	1,718

Denominator for basic earnings per share - Weighted average shares outstanding	73,068,856		72,717,965
Effect of dilutive potential common shares	852,330		1,587,547
Denominator for diluted earnings per share - Adjusted weighted average shares outstanding	73,921,186		74,305,512

Basic earnings per share	$	0.04	$	0.02
Diluted earnings per share	$	0.04	$	0.02

LEASES - Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023
Assets:
Operating lease right-of-use assets	$ 8,276	$ 7,986	$ 7,986
Liabilities:
Operating lease liabilities, accrued expenses	$ 1,432	$ 1,320	$ 1,320
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current		Accrued Liabilities, Current
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other noncurrent liabilities	Other noncurrent liabilities
Other noncurrent liabilities	$ 8,759		$ 8,457
Total lease liabilities	$ 10,191		$ 9,777

LEASES (Tables)

3 Months Ended

Sep. 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	September 30, 2024		June 30, 2024
Assets:	Operating lease right-of-use assets	$	8,276	$	7,986

Liabilities:
Current	Accrued expenses	$	1,432	$	1,320
Long-term	Other noncurrent liabilities	8,759		8,457
Total lease liabilities		$	10,191	$	9,777

Lease Costs

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


($ in thousands)	Three months ended September 30,
	2024		2023
Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	485	$	604

Non-cash activity:
Right-of-use assets obtained in exchange for new lease obligations	$	290	$	1,788

Maturities of Lease Liabilities, Operating Leases

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


($ in thousands)	Operating Leases
Remainder of 2025	$	1,345
2026	2,405
2027	1,958
2028	1,456
2029	1,491
Thereafter	5,720
Total lease payments	14,375
Less: Imputed interest	(4,184)
Present value of lease liabilities	$	10,191

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

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


($ in thousands)	September 30, 2024		June 30, 2024
Cost	$	32,777	$	32,513
Accumulated depreciation	(25,229)		(24,742)
Net	$	7,548	$	7,771

LEASES

3 Months Ended

Sep. 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	September 30, 2024		June 30, 2024
Assets:	Operating lease right-of-use assets	$	8,276	$	7,986

Liabilities:
Current	Accrued expenses	$	1,432	$	1,320
Long-term	Other noncurrent liabilities	8,759		8,457
Total lease liabilities		$	10,191	$	9,777

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


($ in thousands)	Three months ended September 30,
	2024		2023
Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	485	$	604

Non-cash activity:
Right-of-use assets obtained in exchange for new lease obligations	$	290	$	1,788

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


($ in thousands)	Operating Leases
Remainder of 2025	$	1,345
2026	2,405
2027	1,958
2028	1,456
2029	1,491
Thereafter	5,720
Total lease payments	14,375
Less: Imputed interest	(4,184)
Present value of lease liabilities	$	10,191

Lessor Accounting

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


($ in thousands)	September 30, 2024		June 30, 2024
Cost	$	32,777	$	32,513
Accumulated depreciation	(25,229)		(24,742)
Net	$	7,548	$	7,771

For the three months ended September 30, 2024 and 2023, the Company recognized $2.3 million and $2.0 million of revenue from its device rental program, respectively, which is included in the Subscription and Transaction fees on its Condensed Consolidated Statements of Operations.

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

LEASES

Lessee Accounting


($ in thousands)	Balance Sheet Classification	September 30, 2024		June 30, 2024
Assets:	Operating lease right-of-use assets	$	8,276	$	7,986

Liabilities:
Current	Accrued expenses	$	1,432	$	1,320
Long-term	Other noncurrent liabilities	8,759		8,457
Total lease liabilities		$	10,191	$	9,777

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


($ in thousands)	Three months ended September 30,
	2024		2023
Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	485	$	604

Non-cash activity:
Right-of-use assets obtained in exchange for new lease obligations	$	290	$	1,788

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


($ in thousands)	Operating Leases
Remainder of 2025	$	1,345
2026	2,405
2027	1,958
2028	1,456
2029	1,491
Thereafter	5,720
Total lease payments	14,375
Less: Imputed interest	(4,184)
Present value of lease liabilities	$	10,191

Lessor Accounting

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


($ in thousands)	September 30, 2024		June 30, 2024
Cost	$	32,777	$	32,513
Accumulated depreciation	(25,229)		(24,742)
Net	$	7,548	$	7,771

LEASES

Lessee Accounting


($ in thousands)	Balance Sheet Classification	September 30, 2024		June 30, 2024
Assets:	Operating lease right-of-use assets	$	8,276	$	7,986

Liabilities:
Current	Accrued expenses	$	1,432	$	1,320
Long-term	Other noncurrent liabilities	8,759		8,457
Total lease liabilities		$	10,191	$	9,777

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


($ in thousands)	Three months ended September 30,
	2024		2023
Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	485	$	604

Non-cash activity:
Right-of-use assets obtained in exchange for new lease obligations	$	290	$	1,788

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


($ in thousands)	Operating Leases
Remainder of 2025	$	1,345
2026	2,405
2027	1,958
2028	1,456
2029	1,491
Thereafter	5,720
Total lease payments	14,375
Less: Imputed interest	(4,184)
Present value of lease liabilities	$	10,191

Lessor Accounting

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


($ in thousands)	September 30, 2024		June 30, 2024
Cost	$	32,777	$	32,513
Accumulated depreciation	(25,229)		(24,742)
Net	$	7,548	$	7,771

GOODWILL AND INTANGIBLE ASSETS (Tables)

3 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Asset Balances and Goodwill

Intangible asset balances and goodwill consisted of the following:


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

Intangible assets:
Brand and trade names	$	2,526	(1,971)		555		2.0
Developed technology	23,119		(13,792)		9,327		3.8
Customer relationships	27,217		(10,337)		16,880		8.6
Total intangible assets	$	52,862	$	(26,100)	$	26,762	6.8

Goodwill	$	102,708	$	—	$	102,708	Indefinite


	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

DEBT AND OTHER FINANCING ARRANGEMENTS - Narrative (Details) - Line of Credit $ in Millions	Dec. 01, 2022 USD ($)	Mar. 17, 2022 USD ($)	Sep. 30, 2024
2022 JPMorgan Revolving Credit Facility
Debt Instrument [Line Items]
Total leverage ration, maximum		3.00
Commitment fee		0.50%
Debt, weighted average interest rate			8.90%
2022 JPMorgan Revolving Credit Facility \| Period One
Debt Instrument [Line Items]
Interest rate, increase		0.25%
Adjusted quick ratio, maximum		3.00
2022 JPMorgan Revolving Credit Facility \| Period One \| Minimum \| Base Rate
Debt Instrument [Line Items]
Variable rate		2.50%
2022 JPMorgan Revolving Credit Facility \| Period One \| Minimum \| Secured Overnight Financing Rate
Debt Instrument [Line Items]
Variable rate		3.50%
2022 JPMorgan Revolving Credit Facility \| Period One \| Maximum \| Base Rate
Debt Instrument [Line Items]
Variable rate		3.00%
2022 JPMorgan Revolving Credit Facility \| Period One \| Maximum \| Secured Overnight Financing Rate
Debt Instrument [Line Items]
Variable rate		4.00%
2022 JPMorgan Revolving Credit Facility \| Period Two
Debt Instrument [Line Items]
Interest rate, increase		2.00%
Adjusted quick ratio, maximum		4.00
Revolving Credit Facility \| 2022 JPMorgan Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 15
Proceeds from revolving credit facility	$ 15
Term Facility \| 2022 JPMorgan Revolving Credit Facility
Debt Instrument [Line Items]
Proceeds from issuance of other long-term debt	25
Proceeds from revolving credit facility	$ 10
Term Facility \| 2022 JPMorgan Secured Term Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 25

REVENUES - Performance Obligations (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation	$ 9,701
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation	$ 4,341
Performance obligation, period	9 months
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	$ 4,250
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	$ 1,084
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	$ 26
Performance obligation, period

RELATED PARTY TRANSACTIONS	3 Months Ended
RELATED PARTY TRANSACTIONS	Sep. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS A member of our Board of Directors serves as a strategic advisor to a consulting firm that we utilize for payments analytics and advisory services. These services are utilized by the Company to reduce the cost of our interchange and other processing fees charged by payment processors and credit card networks. As consideration for the services, we pay the consulting firm a success fee based on the savings realized by the Company, and a recurring monthly subscription fee for the analytical services. The total expense recognized within Cost of subscription and transaction fees for these arrangements was less than $0.1 million for both the three months ended September 30, 2024 and 2023.

- 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
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
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	$ 23,011	$ 22,722
Common stock, shares authorized (in shares)	640,000,000	640,000,000
Common stock, shares issued (in shares)	72,986,172	72,935,497
Common stock, shares outstanding (in shares)	72,986,172	72,935,497

GOODWILL AND INTANGIBLE ASSETS - Summary of Amortizable Intangible Asset (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Finite-Lived Intangible Assets [Line Items]
Gross	$ 52,862	$ 49,447
Accumulated Amortization	(26,100)	(24,821)
Net	$ 26,762	$ 24,626
Weighted Average Remaining Useful Life (Years)	6 years 9 months 18 days	7 years 2 months 12 days
Goodwill, Gross	$ 102,708	$ 94,903
Goodwill, Net	102,708	94,903
Brand and trade names
Finite-Lived Intangible Assets [Line Items]
Gross	2,526	2,361
Accumulated Amortization	(1,971)	(1,852)
Net	$ 555	$ 509
Weighted Average Remaining Useful Life (Years)	2 years	1 year 7 months 6 days
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross	$ 23,119	$ 20,062
Accumulated Amortization	(13,792)	(13,304)
Net	$ 9,327	$ 6,758
Weighted Average Remaining Useful Life (Years)	3 years 9 months 18 days	3 years 7 months 6 days
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross	$ 27,217	$ 27,024
Accumulated Amortization	(10,337)	(9,665)
Net	$ 16,880	$ 17,359
Weighted Average Remaining Useful Life (Years)	8 years 7 months 6 days	8 years 9 months 18 days

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Revenues:	$ 70,836	$ 62,683
Costs of sales (exclusive of certain depreciation and amortization):	41,985	38,355
Operating expenses:
Sales and marketing	5,448	4,142
Technology and product development	4,499	4,168
General and administrative	11,928	10,438
Integration and acquisition expenses	197	78
Depreciation and amortization	2,672	2,747
Total operating expenses	24,744	21,573
Operating income	4,107	2,755
Other income (expense):
Interest income	447	517
Interest expense	(991)	(1,107)
Other income (expense), net	186	(77)
Total other expense, net	(358)	(667)
Income before income taxes	3,749	2,088
Provision for income taxes	(177)	(81)
Net income	3,572	2,007
Preferred dividends	(289)	(289)
Net income applicable to common shares	3,283	1,718
Net income applicable to common shares	$ 3,283	$ 1,718
Net earnings per common share
Basic (in dollars per share)	$ 0.04	$ 0.02
Diluted (in dollars per share)	$ 0.04	$ 0.02
Weighted average number of common shares outstanding used to compute net earnings per share applicable to common shares
Basic (in shares)	73,068,856	72,717,965
Diluted (in shares)	73,921,186	74,305,512
Subscription and transaction fees
Revenues:	$ 63,792	$ 55,135
Costs of sales (exclusive of certain depreciation and amortization):	35,744	31,728
Equipment sales
Revenues:	7,044	7,548
Costs of sales (exclusive of certain depreciation and amortization):	$ 6,241	$ 6,627

DEBT AND OTHER FINANCING ARRANGEMENTS - Debt and Other Financing Arrangement Summary (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Debt Instrument [Line Items]
Principal amounts payable	$ 37,373
Less: unamortized issuance costs and debt discount	(92)	$ (109)
Total	37,281	37,550
Less: debt and other financing arrangements, current	(1,362)	(1,266)
Debt and other financing arrangements, noncurrent	35,919	36,284
Line of Credit \| JP Morgan Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Principal amounts payable	37,344	37,625
Other obligations
Debt Instrument [Line Items]
Principal amounts payable	$ 29	$ 34

ACQUISITIONS (Tables)

3 Months Ended

Sep. 30, 2024

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

Schedule of Business Acquisition

The following table summarizes the estimated fair value assigned to the assets acquired and liabilities assumed:


($ in thousands)	Amount
Cash and cash equivalents	$	284
Accounts receivable	94
Inventory	42
Prepaid expenses	14
Property and equipment	67
Operating lease right-of-use assets	244
Intangible assets	3,362
Total identifiable assets acquired	4,107
Accounts payable	(71)
Accrued expenses	(152)
Operating lease liability	(244)
Total liabilities assumed	(467)
Total identifiable net assets	3,640
Goodwill	7,743
Fair value of total considerations transferred	$	11,383

The following table summarizes the adjusted fair value assigned to the assets acquired and liabilities assumed:


($ 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

EARNINGS PER SHARE CALCULATION - Calculation of Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Numerator for basic and diluted loss per share
Net income	$ 3,572	$ 2,007
Preferred dividends	(289)	(289)
Net income applicable to common shares	3,283	1,718
Net income applicable to common shares	$ 3,283	$ 1,718
Denominator for basic earnings per share - Weighted average shares outstanding (in shares)	73,068,856	72,717,965
Effect of dilutive potential common shares (in shares)	852,330	1,587,547
Denominator for diluted earnings per share - Adjusted weighted average shares outstanding (in shares)	73,921,186	74,305,512
Basic earnings per share (in dollars per share)	$ 0.04	$ 0.02
Diluted earnings per share (in dollars per share)	$ 0.04	$ 0.02

ACCOUNTS RECEIVABLE - Schedule of Rollforward of Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance. accounts receivable, allowance for credit loss, current	$ 13,442	$ 10,815
Provision for expected losses	558	958
Write-offs	(354)	(60)
Ending balance. accounts receivable, allowance for credit loss, current	$ 13,646	$ 11,713

ACCRUED EXPENSES - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023
Business Acquisition [Line Items]
Sales tax reserve	$ 9,891	$ 9,947
Accrued compensation and related sales commissions	1,907	4,061
Operating lease liabilities - current	1,432	1,320	$ 1,320
Accrued professional fees	3,496	4,336
Sales tax payable	1,969	2,123
Accrued other	1,136	851
Total accrued expenses	21,743	24,008
SB Software
Business Acquisition [Line Items]
Contingent consideration	542	0
Three Square Market, Inc.
Business Acquisition [Line Items]
Contingent consideration	442	442
Cheq Lifestyle Technology, Inc.
Business Acquisition [Line Items]
Contingent consideration	$ 928	$ 928

Cover Page - shares	3 Months Ended
Cover Page - shares	Sep. 30, 2024	Nov. 04, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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, Address Line Two	Suite 405
Entity Address, City or Town	Malvern,
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19355
City Area Code	610
Local Phone Number	989-0340
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	CTLP
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		72,986,172
Entity Central Index Key	0000896429
Document Fiscal Year Focus	2025
Current Fiscal Year End Date	--06-30
Document Fiscal Period Focus	Q1
Amendment Flag	false

EARNINGS PER SHARE CALCULATION

3 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

EARNINGS PER SHARE CALCULATION

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


	Three months ended September 30,
($ in thousands, except per share data)	2024		2023

Numerator for basic and diluted loss per share
Net income	$	3,572	2,007
Preferred dividends	(289)		(289)
Net income applicable to common shareholders	$	3,283	$	1,718

Denominator for basic earnings per share - Weighted average shares outstanding	73,068,856		72,717,965
Effect of dilutive potential common shares	852,330		1,587,547
Denominator for diluted earnings per share - Adjusted weighted average shares outstanding	73,921,186		74,305,512

Basic earnings per share	$	0.04	$	0.02
Diluted earnings per share	$	0.04	$	0.02

Potentially anti-dilutive shares excluded from the calculation of diluted earnings per share were approximately 0.1 million and 1 million for the three months ended September 30, 2024 and 2023, respectively.

ACQUISITIONS

3 Months Ended

Sep. 30, 2024

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

ACQUISITIONS

On September 5, 2024, the Company acquired all of the equity interests of SB Software Limited ("SB Software"), a United Kingdom private limited company. SB Software is in the business of vending and coffee machine management in the United Kingdom. The acquisition enhances Cantaloupe’s operational capabilities and market reach in Europe.

On February 1, 2024, the Company acquired all of the equity interests of Cheq Lifestyle Technology, Inc. ("Cheq"). 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.

Both acquisitions were accounted for as business combinations using the acquisition method of accounting. The purchase price of each acquired company was allocated between tangible and intangible assets acquired and liabilities assumed from the acquired businesses 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.

SB Software

For SB Software, the Company paid a purchase price of approximately $11.4 million which includes cash paid of $10.0 million and the estimated fair value of contingent consideration to be paid out of $1.4 million. The acquisition was funded by the Company's cash on hand.

The $1.4 million fair value of the contingent consideration to be paid out represents the present value of up to $3.3 million in contingent consideration based on a Monte Carlo Simulation should SB Software achieve certain revenue growth metrics as defined in the share purchase agreement. Should these metrics be achieved, approximately $1.3 million, $1.0 million and $1.0 million will be payable in September 2025, September 2026 and September 2027, respectively. The current and noncurrent portions of the fair value of the contingent consideration of $0.5 million and $0.8 million are included in Accrued expenses and Other non-current liabilities on the Condensed Consolidated Balance Sheet, respectively.

The following table summarizes the estimated fair value assigned to the assets acquired and liabilities assumed:


($ in thousands)	Amount
Cash and cash equivalents	$	284
Accounts receivable	94
Inventory	42
Prepaid expenses	14
Property and equipment	67
Operating lease right-of-use assets	244
Intangible assets	3,362
Total identifiable assets acquired	4,107
Accounts payable	(71)
Accrued expenses	(152)
Operating lease liability	(244)
Total liabilities assumed	(467)
Total identifiable net assets	3,640
Goodwill	7,743
Fair value of total considerations transferred	$	11,383

The Company determined the estimated fair value of the identifiable intangible assets acquired with the assistance of third-party valuation consultants. Amounts allocated to identifiable intangible assets included $3.0 million related to developed technology, $0.2 million related to customer relationships, and $0.2 million related to trade names. The estimated fair value of the acquired developed technology was determined using a multi-period excess earnings method. The estimated 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 estimated 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, 3 and 3 years, respectively.

Goodwill of $7.7 million arising from the acquisition includes the expected synergies between SB Software 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 $0.2 million of integration and acquisition related costs that were expensed during the three months ended September 30, 2024. These costs are recorded within Integration and acquisition expenses in the Condensed Consolidated Statements 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 SB Software in the Company's Condensed Consolidated Financial Statements.

Cheq

For Cheq, 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:


($ 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, 3 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 Condensed Consolidated Statements of Operations.

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income	$ 3,572	$ 2,007

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 3: 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 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6

Reference 10: 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 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 14: 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 15: 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 16: 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 17: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-10

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-7

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 34: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

REVENUES - Operating Lease, Lease Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Operating leases	$ 2,318	$ 1,990
Sales-type finance leases	640	692
Total lease revenues	$ 2,958	$ 2,682
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenue from Contract with Customer, Excluding Assessed Tax	Revenue from Contract with Customer, Excluding Assessed Tax

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income	$ 3,572	$ 2,007
Adjustments to reconcile net income to net cash (used in) provided from operating activities:
Stock-based compensation	887	1,932
Amortization of debt issuance costs and discounts	30	32
Provision for expected losses	949	1,000
Provision for inventory reserve	83	0
Depreciation and amortization	3,192	3,089
Gain on foreign currency exchange rates	(211)	0
Non-cash lease expense	321	400
Deferred income taxes	24	43
Changes in operating assets and liabilities:
Accounts receivable	11,047	(7,784)
Finance receivables	1,081	1,122
Inventory	(3,863)	(344)
Prepaid expenses and other assets	219	171
Accounts payable and accrued expenses	(28,897)	5,152
Operating lease liabilities	(197)	(391)
Deferred revenue	(255)	274
Net cash (used in) provided by operating activities	(12,018)	6,703
Cash flows from investing activities:
Capital expenditures	(3,791)	(2,916)
Acquisition of business, net of cash acquired	(9,761)	0
Net cash used in investing activities	(13,552)	(2,916)
Cash flows from financing activities:
Repayment of long-term debt	(286)	(193)
Proceeds from exercise of common stock options	0	76
Payment of employee taxes related to stock-based compensation	(164)	0
Net cash used in financing activities	(450)	(117)
Effect of currency exchange rate changes on cash and cash equivalents	224	0
Net (decrease) increase in cash and cash equivalents	(25,796)	3,670
Cash and cash equivalents at beginning of year	58,920	50,927
Cash and cash equivalents at end of period	33,124	54,597
Supplemental disclosures of cash flow information:
Interest paid in cash	883	889
Income taxes paid in cash	$ 251	$ 13

DEBT AND OTHER FINANCING ARRANGEMENTS - Maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Debt Disclosure [Abstract]
Remainder of 2025	$ 1,047
2026	36,326
Principal amounts payable	37,373
Unamortized issuance costs	(92)	$ (109)
Total	$ 37,281	$ 37,550

- 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

REVENUES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
REVENUES - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract with customer, asset, after allowance for credit loss	$ 2.5		$ 2.6
Capitalized costs, amortization	0.2	$ 0.2
Prepaid expenses and other current assets
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Capitalized costs	0.9		0.9
Other noncurrent assets
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Capitalized costs	$ 2.4		$ 2.4

LEASES - Property and Equipment Costs (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Leases [Abstract]
Cost	$ 32,777	$ 32,513
Accumulated depreciation	(25,229)	(24,742)
Net	$ 7,548	$ 7,771

ACCOUNTS RECEIVABLE - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Receivables [Abstract]
Accounts receivable, net	$ 32,490	$ 43,848

REVENUES (Tables)

3 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

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


	Three months ended September 30,
($ in thousands)		2024		2023
Transaction fees		$	43,604	$	37,030
Subscription fees		20,188		18,105
Subscription and transaction fees		63,792		55,135
Equipment sales		7,044		7,548
Total revenues		$	70,836	$	62,683

Operating Lease, Lease Income

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


	Three months ended September 30,
($ in thousands)		2024		2023
Operating leases		$	2,318	$	1,990
Sales-type finance leases		640		692
Total lease revenues		$	2,958	$	2,682

Contract Liabilities

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


	Three months ended September 30,
($ in thousands)	2024		2023
Deferred revenue, beginning of the period	$	1,726	$	1,666
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period	(324)		(92)
Additions	69		366
Deferred revenue, end of the period	$	1,471	$	1,940

Future Performance Obligations

The following table reflects the estimated fees to be recognized in the future related to performance obligations that are unsatisfied as of September 30, 2024:


($ in thousands)	As of September 30, 2024
Remainder of fiscal year 2025	$	4,341
2026	4,250
2027	1,084
Thereafter	26
Total	$	9,701

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Current assets:
Cash and cash equivalents	$ 33,124	$ 58,920
Accounts receivable, net	32,490	43,848
Finance receivables, net	6,104	6,391
Inventory	44,571	40,791
Prepaid expenses and other current assets	7,456	7,844
Total current assets	123,745	157,794
Non-current assets:
Finance receivables, net	8,873	10,036
Property and equipment, net	35,888	34,029
Operating lease right-of-use assets	8,276	7,986
Intangibles, net	26,762	24,626
Goodwill	102,708	94,903
Other assets	5,883	6,194
Total non-current assets	188,390	177,774
Total assets	312,135	335,568
Current liabilities:
Accounts payable	52,612	78,895
Accrued expenses	21,743	24,008
Current obligations under long-term debt	1,362	1,266
Deferred revenue	1,471	1,726
Total current liabilities	77,188	105,895
Long-term liabilities:
Deferred income taxes	505	466
Long-term debt, less current portion	35,919	36,284
Other noncurrent liabilities	9,573	8,457
Total long-term liabilities	45,997	45,207
Total liabilities	123,185	151,102
Commitments and contingencies (Note 14)
Convertible preferred stock:
Series A convertible preferred stock, 900,000 shares authorized, 385,782 and 385,782 issued and outstanding, with liquidation preferences of $23,011 and $22,722 at September 30, 2024 and June 30, 2024, respectively	2,720	2,720
Shareholders’ equity:
Common stock, no par value, 640,000,000 shares authorized, 72,986,172 and 72,935,497 shares issued and outstanding at September 30, 2024 and June 30, 2024, respectively	0	0
Additional paid-in capital	483,052	482,329
Accumulated deficit	(296,887)	(300,459)
Accumulated other comprehensive income (loss)	65	(124)
Total shareholders’ equity	186,230	181,746
Total liabilities, convertible preferred stock, and shareholders’ equity	$ 312,135	$ 335,568

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$ 485	$ 604
Non-cash activity:
Right-of-use assets obtained in exchange for new lease obligations	$ 290	$ 1,788

FINANCE RECEIVABLES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Receivables [Abstract]
Finance receivables, lease term	60 months
Financing receivable, allowance for credit loss, writeoff	$ 0.0	$ 0.0

LEASES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
LEASES - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Operating leases	$ 2,318	$ 1,990

DEBT AND OTHER FINANCING ARRANGEMENTS

3 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

DEBT AND OTHER FINANCING ARRANGEMENTS

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


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

JPMorgan Credit Facility*	$	37,344	$	37,625
Other obligations	29		34
Less: unamortized issuance costs and debt discount	(92)		(109)
Total	37,281		37,550
Less: debt and other financing arrangements, current	(1,362)		(1,266)
Debt and other financing arrangements, noncurrent	$	35,919	$	36,284

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

JPMorgan Chase Bank Credit Facility

On March 17, 2022, the Company entered into an amended and restated credit agreement with JPMorgan Chase Bank, N.A. which provides for a $15 million secured revolving credit facility (the “Amended Revolving Facility”) and a $25 million secured term facility (the “Amended Secured Term Facility” and together with the Amended Revolving Facility, the “Amended JPMorgan Credit Facility”), and fully replaced our previous 2021 JPMorgan credit facility.

On December 1, 2022, the Company entered into an amendment (the “2022 Amendment”) the Amended and Restated Credit Agreement, dated as of March 17, 2022, which, among other things, amended the definition of the Company’s EBITDA under the Credit Agreement. On December 1, 2022, the Company borrowed an additional $25 million under the Amended JPMorgan Credit Facility, including $15 million from the revolving credit facility and $10 million from the term facility. No issuance costs were capitalized in connection with this amendment.

The Amended JPMorgan Credit Facility matures on March 16, 2026. Interest on the Amended JPMorgan Credit Facility will be based, at the Company’s option, on a base rate or SOFR plus an applicable margin tied to the Company’s total leverage ratio and having ranges of between 2.50% and 3.00% for base rate loans and between 3.50% and 4.00% for SOFR loans. Subject to the occurrence of a material acquisition and the Company’s total leverage ratio exceeding 3.00 to 1.00, the interest rate on the loans may increase by 0.25%. In an event of default, the interest rate may be increased by 2.00%. The Amended JPMorgan Credit Facility will also carry a commitment fee of 0.50% per annum on the unused portion. As of September 30, 2024, the weighted-average interest rate for the Amended JPMorgan Credit Facility is approximately 8.9%.

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

The Company was in compliance with its financial covenants for the Amended JPMorgan Credit Facility as of September 30, 2024.

The expected maturities for each fiscal year associated with the Company’s outstanding debt and other financing arrangements as of September 30, 2024, were as follows:


($ in thousands)	Amount
Remainder of 2025	$	1,047
2026	36,326
Principal amounts payable	37,373
Unamortized issuance costs	(92)
Total outstanding debt	$	37,281

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

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

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

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

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

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

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

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

GOODWILL AND INTANGIBLES - Narrative (Details) $ in Millions	3 Months Ended
	Sep. 30, 2024 USD ($) reportingUnit	Sep. 30, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense of acquired intangible assets	$ 1.3	$ 1.6
Number of reporting units \| reportingUnit	1
Goodwill impairment	$ 0.0	$ 0.0

REVENUES - Contract Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Contract with Customer, Liability, Current [Roll Forward]
Deferred revenue, beginning of the period	$ 1,726	$ 1,666
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period	(324)	(92)
Additions	69	366
Deferred revenue, end of the period	$ 1,471	$ 1,940

ACCOUNTS RECEIVABLE (Tables)

3 Months Ended

Sep. 30, 2024

Receivables [Abstract]

Schedule of Rollforward of Allowance for Doubtful Accounts

The following table represents a rollforward of the allowance for credit losses for the three months ended September 30, 2024 and 2023:


	Three months ended September 30,
($ in thousands)	2024		2023
Balance, beginning of quarter	$	13,442	$	10,815
Provision for expected losses	558		958
Write-offs	(354)		(60)
Balance, end of quarter	$	13,646	$	11,713

FINANCING RECEIVABLES - Financing Receivable Credit Quality Indicators (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	$ 2,123	$ 2,263
Between 1 and 2 Years Ago	3,265	5,715
Between 2 and 3 Years Ago	7,450	5,479
Between 3 and 4 Years Ago	1,996	2,335
Between 4 and 5 Years Ago	1,011	892
More than 5 Years Ago	1,457	1,677
Total	17,302	18,361
Current
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	2,066	2,199
Between 1 and 2 Years Ago	3,050	5,135
Between 2 and 3 Years Ago	6,029	4,668
Between 3 and 4 Years Ago	1,571	1,961
Between 4 and 5 Years Ago	562	456
More than 5 Years Ago	157	324
Total	13,435	14,743
30 days and under
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	31	13
Between 1 and 2 Years Ago	52	67
Between 2 and 3 Years Ago	160	80
Between 3 and 4 Years Ago	76	85
Between 4 and 5 Years Ago	44	56
More than 5 Years Ago	27	42
Total	390	343
31 - 60 days
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	11	8
Between 1 and 2 Years Ago	23	64
Between 2 and 3 Years Ago	119	58
Between 3 and 4 Years Ago	67	49
Between 4 and 5 Years Ago	47	47
More than 5 Years Ago	27	38
Total	294	264
61 - 90 days
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	6	8
Between 1 and 2 Years Ago	18	62
Between 2 and 3 Years Ago	102	48
Between 3 and 4 Years Ago	47	32
Between 4 and 5 Years Ago	79	36
More than 5 Years Ago	32	38
Total	284	224
Greater than 90 days
Financing Receivable, Credit Quality Indicator [Line Items]
Up to 1 Year Ago	9	35
Between 1 and 2 Years Ago	122	387
Between 2 and 3 Years Ago	1,040	625
Between 3 and 4 Years Ago	235	208
Between 4 and 5 Years Ago	279	297
More than 5 Years Ago	1,214	1,235
Total	$ 2,899	$ 2,787

FINANCE RECEIVABLES - Schedule of Credit Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at June 30	$ 1,934	$ 2,098
Provision for expected losses	391	51
Balance at September 30	$ 2,325	$ 2,149

- Definition

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

+ References + Details

BUSINESS	3 Months Ended
BUSINESS	Sep. 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. Cantaloupe, Inc. and its consolidated subsidiaries are referred to herein collectively as "Cantaloupe," the "Company," "we," "our" or "us," unless the context requires otherwise.

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Estimated annual effective income tax rate reconciliation, percent	5.10%
Income tax provision	$ 177	$ 81
Unrecognized income tax benefit	$ 700	$ 700

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.7)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-10

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Subparagraph (a)
-SubTopic 20
-Topic 740
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482659/740-20-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h))
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation and Preparation	Basis of Presentation and Preparation The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. The condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements and therefore should be read in conjunction with the Company’s June 30, 2024 Annual Report on Form 10-K. The Company has operations in the United States, Mexico and the United Kingdom. The functional currencies of our foreign wholly-owned subsidiaries are the local currencies. We translate the financial statements of these subsidiaries into U.S. dollars each reporting period for purposes of consolidation. Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates, assumptions and judgments that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. The Company evaluates these estimates on an ongoing basis. Estimates, judgments, and assumptions in these condensed consolidated financial statements 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, income taxes and sales tax reserves. See the Company's Annual Report, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations, section Critical Accounting Estimates.
Reclassification	Reclassification Certain reclassifications have been made to prior year's reported amounts in order to conform to the current year presentation. These reclassifications did not impact our previously reported net income or stockholders’ equity.
Recent Accounting Pronouncements	Recent Accounting Pronouncements ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures In December 2023, the FASB issued ASU 2023-09, which expands income tax disclosure requirements to include additional information related to the rate reconciliation of effective tax rates to statutory rates as well as additional disaggregation of taxes paid. The amendments in the ASU also remove disclosures related to certain unrecognized tax benefits and deferred taxes. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, which is the Company's fiscal year ended June 30, 2026. The amendments may be applied prospectively or retrospectively, and early adoption is permitted. We are currently assessing the impact of the requirements on our consolidated financial statements and disclosures. ASU 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures 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 any additional measures of a segment's profit or loss used by the CODM when deciding how to allocate resources. Annual disclosures are required for fiscal years beginning after December 15, 2023, which is the Company's fiscal year ended June 30, 2025. Interim disclosures are required for periods within fiscal years beginning after December 15, 2024, which is the Company's fiscal year ended June 30, 2026. 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. No other new accounting pronouncements, issued or effective during the period ended September 30, 2024, have had or are expected to have a significant impact on the Company’s financial statements.

INCOME TAXES	3 Months Ended
INCOME TAXES	Sep. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company computes its interim period income tax expense or benefit using a forecasted estimated annual effective tax rate ("EAETR") and adjusts for any discrete items arising during the interim period and any changes in the Company's projected full-year business interest expense and taxable income. For the three months ended September 30, 2024, the EAETR was 5.1% and was based primarily on minimum state tax obligations. For the three months ended September 30, 2024 and 2023, the Company recorded an income tax provision of $0.2 million and $0.1 million, respectively. The income tax provisions for both quarters primarily relate to state income and deferred taxes related to goodwill amortization for tax purposes. The provision was based upon actual income before income taxes for the three months ended September 30, 2024, as this provides a more reliable estimate of the income tax provision than an estimated annual effective income tax rate. The Company had a total unrecognized income tax benefit of $0.7 million and $0.7 million as of September 30, 2024 and 2023, respectively. 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 September 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. 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.

- 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
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

DEBT AND OTHER FINANCING ARRANGEMENTS (Tables)

3 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Long-Term Debt and Other Financing Arrangements

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


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

JPMorgan Credit Facility*	$	37,344	$	37,625
Other obligations	29		34
Less: unamortized issuance costs and debt discount	(92)		(109)
Total	37,281		37,550
Less: debt and other financing arrangements, current	(1,362)		(1,266)
Debt and other financing arrangements, noncurrent	$	35,919	$	36,284

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

Schedule of Maturities of Debt and Other Financing Arrangements

The expected maturities for each fiscal year associated with the Company’s outstanding debt and other financing arrangements as of September 30, 2024, were as follows:


($ in thousands)	Amount
Remainder of 2025	$	1,047
2026	36,326
Principal amounts payable	37,373
Unamortized issuance costs	(92)
Total outstanding debt	$	37,281

- 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
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net income	$ 3,572	$ 2,007
Foreign currency translation adjustments	189	0
Other comprehensive income	189	0
Total comprehensive income	$ 3,761	$ 2,007

- 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
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481674/830-30-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-17

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-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
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-4

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-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

ACCOUNTS RECEIVABLE

3 Months Ended

Sep. 30, 2024

Receivables [Abstract]

ACCOUNTS RECEIVABLE

Accounts receivable includes amounts due to the Company for sales of equipment and subscription fees, settlement receivables for amounts due from third-party payment processors, receivables from contract manufacturers and unbilled amounts due from customers, net of the allowance for credit losses. Accounts receivable, net of the allowance for uncollectible accounts were $32.5 million as of September 30, 2024 and $43.8 million as of June 30, 2024.

Allowance for credit losses

The following table represents a rollforward of the allowance for credit losses for the three months ended September 30, 2024 and 2023:


	Three months ended September 30,
($ in thousands)	2024		2023
Balance, beginning of quarter	$	13,442	$	10,815
Provision for expected losses	558		958
Write-offs	(354)		(60)
Balance, end of quarter	$	13,646	$	11,713

REVENUES

3 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

REVENUES

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


	Three months ended September 30,
($ in thousands)		2024		2023
Transaction fees		$	43,604	$	37,030
Subscription fees		20,188		18,105
Subscription and transaction fees		63,792		55,135
Equipment sales		7,044		7,548
Total revenues		$	70,836	$	62,683

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 sales-type finance leases in accordance with ASC 842.

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


	Three months ended September 30,
($ in thousands)		2024		2023
Operating leases		$	2,318	$	1,990
Sales-type finance leases		640		692
Total lease revenues		$	2,958	$	2,682

Contract Assets

Contract assets represent revenues earned from customers that are not yet billable to customers, 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 Condensed Consolidated Balance Sheets. Contract assets were $2.5 million and $2.6 million, as of September 30, 2024 and June 30, 2024.

Contract Liabilities

The change in the contract liability balances, presented as Deferred revenue on the Condensed Consolidated Balance Sheets, is primarily the result of timing difference between the Company’s satisfaction of a performance obligation and payment from the customer.

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


	Three months ended September 30,
($ in thousands)	2024		2023
Deferred revenue, beginning of the period	$	1,726	$	1,666
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period	(324)		(92)
Additions	69		366
Deferred revenue, end of the period	$	1,471	$	1,940

Future Performance Obligations

The Company will recognize revenue in future periods related to remaining performance obligations for certain open contracts. Generally, these contracts have terms of one year or less. The amount of revenue related to unsatisfied performance obligations in which the original duration of the contract is greater than one year are primarily associated with the Company's Cantaloupe ONE rental program which has a contractual term of 36 months. The following table reflects the estimated fees to be recognized in the future related to performance obligations that are unsatisfied as of September 30, 2024:


($ in thousands)	As of September 30, 2024
Remainder of fiscal year 2025	$	4,341
2026	4,250
2027	1,084
Thereafter	26
Total	$	9,701

Contract Costs

The Company had net capitalized costs to obtain contracts of $0.9 million and $0.9 million included in Prepaid expenses and other current assets and $2.4 million and $2.4 million included in Other noncurrent assets on the Condensed Consolidated Balance Sheets as of September 30, 2024 and June 30, 2024, respectively. None of these capitalized contract costs were impaired.

During the three months ended September 30, 2024 and September 30, 2023, amortization of capitalized contract costs was $0.2 million and $0.2 million, respectively. Amortization of costs to obtain a contract are included within Sales and marketing expenses within the Consolidated Statement 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
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

FINANCE RECEIVABLES

3 Months Ended

Sep. 30, 2024

Receivables [Abstract]

FINANCE RECEIVABLES

The Company's finance receivables consist of devices under its financing program and devices contractually associated with the Seed platform. Predominately all of the Company’s finance receivables agreements are classified as non-cancellable sixty-month sales-type leases.

The Company collects lease payments from customers primarily as part of the flow of funds from our transaction processing services. 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 September 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		$	2,066	$	3,050	$	6,029	$	1,571	$	562	$	157	$	13,435
30 days and under		31		52		160		76		44		27		390
31 - 60 days		11		23		119		67		47		27		294
61 - 90 days		6		18		102		47		79		32		284
Greater than 90 days		9		122		1,040		235		279		1,214		2,899
Total finance receivables		$	2,123	$	3,265	$	7,450	$	1,996	$	1,011	$	1,457	$	17,302

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

The following table represents a rollforward of the allowance for finance receivables for the three months ended September 30, 2024 and 2023:


	Three months ended September 30,
($ in thousands)	2024		2023

Balance at June 30	$	1,934	$	2,098
Provision for expected losses	391		51

Balance at September 30	2,325		2,149

There were no write-offs of finance receivables for the three months ended September 30, 2024 and 2023.

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


($ in thousands)	Amount
Remainder of 2025	$	5,480
2026	6,003
2027	4,043
2028	2,051
2029	770
Thereafter	85
Total amounts to be collected	18,432
Less: interest	(1,130)
Less: allowance for uncollectible receivables	(2,325)
Total finance receivables	$	14,977