Revenue and Deferred Costs Revenue and Deferred Costs (Notes)

6 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue and Deferred Costs [Text Block]

REVENUE AND DEFERRED COSTS

Revenue Recognition

The Company generates revenue from data processing and hosting, transaction processing, software licensing and related services, professional services, and hardware sales.

Disaggregation of Revenue

The tables below present the Company's revenue disaggregated by type of revenue. Refer to Note 10, Reportable Segment Information, for disaggregated revenue by type and reportable segment. The majority of the Company’s revenue is earned domestically, with revenue from clients outside the United States comprising less than 1% of total revenue.

	Three Months Ended December 31,				Six Months Ended December 31,
	2024		2023		2024		2023
Private and Public Cloud	$	187,139	$	168,733	$	369,398	$	332,222
Product Delivery and Services	56,278		63,013		113,942		123,852
On-Premise Support	79,610		80,246		196,366		198,123
Services and Support	323,027		311,992		679,706		654,197
Processing	250,821		233,709		495,123		462,872
Total Revenue	$	573,848	$	545,701	$	1,174,829	$	1,117,069

Contract Balances

The following table provides information about contract assets and contract liabilities from contracts with clients.

	December 31, 2024		June 30, 2024
Receivables, net	$	283,223	$	333,033
Contract Assets - Current	34,958		33,610
Contract Assets - Non-current	111,064		103,295
Contract Liabilities (Deferred Revenue) - Current	197,447		317,730
Contract Liabilities (Deferred Revenue) - Non-current	72,022		71,202

Contract assets primarily result from revenue being recognized when or as control of a solution or service is transferred to the client, except where invoicing is contingent upon the completion of other performance obligations or payment terms differ from the provisioning of services. The current portion of contract assets is reported within prepaid expenses and other in the condensed consolidated balance sheets, and the non-current portion is included in other non-current assets. Contract liabilities (deferred revenue) primarily relate to consideration received from clients in advance of delivery of the related goods and services to the client. Contract balances are reported in a net contract asset or liability position on a contract-by-contract basis at the end of each reporting period.

The Company analyzes contract language to identify if a significant financing component does exist and would adjust the transaction price for any material effects of the time value of money if the timing of payments provides either party to the contract with a significant benefit of financing the transaction.

For the three months ended December 31, 2024, and 2023, the Company recognized revenue of $76,528 and $85,458, respectively, that was included in the corresponding deferred revenue balance at the beginning of the periods. For the six months ended December 31, 2024, and 2023, the Company recognized revenue of $152,657 and $167,671, respectively, that was included in the corresponding deferred revenue balance at the beginning of the periods.

Amounts recognized that relate to performance obligations satisfied (or partially satisfied) in prior periods were immaterial for each period presented. These adjustments are primarily the result of transaction price re-allocations due to changes in estimates of variable consideration.

Transaction Price Allocated to Remaining Performance Obligations

As of December 31, 2024, estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period totaled $7,202,267. The Company expects to recognize approximately 21% over the next 12 months, 19% in 13-24 months, and the balance thereafter.

Contract Costs

The Company incurs incremental costs to obtain a contract as well as costs to fulfill contracts with clients that are expected to be recovered. These costs consist primarily of sales commissions, which are incurred only if a contract is obtained, and client conversion or implementation-related costs. Capitalized costs are amortized based on the transfer of goods or services to which the asset relates, in line with the percentage of revenue recognized for each performance obligation to which the costs are allocated.

Capitalized costs totaled $516,505 and $503,152, at December 31, 2024, and June 30, 2024, respectively.

For the three months ended December 31, 2024, and 2023, amortization of deferred contract costs totaled $43,640 and $41,552, respectively. For the six months ended December 31, 2024, and 2023, amortization of deferred contract costs totaled $98,547 and $92,088, respectively. There were no impairment losses in relation to capitalized costs for the periods presented.