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REVENUE (Tables)
 6 Months Ended
Dec. 31, 2018
Revenue from Contract with Customer [Abstract]  
Schedule of Adoption of ASC 606
The effect of adoption of this new guidance on the Condensed Consolidated Balance Sheet as of July 1, 2018 was to increase prepaid expenses and other current assets and other assets and to reduce deferred revenues, with an offsetting decrease in 2018 opening retained earnings (accumulated deficit), as follows:
 
June 30, 2018
 
 
 
July 1, 2018
($ in thousands)
As Reported
 
Adjustment
 
Revised
 
 
 
 
 
 
ASSETS
 
 
 
 
 
Prepaid expenses and other current assets
$
929

 
$
251

 
$
1,180

Other assets
720

 
1,254

 
1,974

LIABILITIES
 
 
 
 
 
Deferred revenue
511

 
1,127

 
1,638

SHAREHOLDERS' EQUITY
 
 
 
 
 
Accumulated deficit
(232,748
)
 
376

 
(232,372
)
The impact of the adoption of ASC 606 by financial statement line item within the Condensed Consolidated Balance Sheet as of December 31, 2018 and Condensed Consolidated Statement of Operations for the six months ended December 31, 2018 is as follows:
 
December 31, 2018
 
 
 
December 31, 2018
($ in thousands)
As Reported
 
Adjustment
 
Under Legacy Guidance
 
 
 
 
 
 
BALANCE SHEET
 
 
 
 
 
Prepaid expenses and other current assets
$
2,871

 
$
(253
)
 
$
2,618

Other assets
1,903

 
(1,265
)
 
638

Deferred revenue
1,437

 
(1,080
)
 
357

Accumulated deficit
(249,349
)
 
(438
)
 
(249,787
)
STATEMENT OF OPERATIONS
 
 
 
 
 
License and transaction fees
58,808

 
(47
)
 
58,761

Selling, general and administrative
20,381

 
14

 
20,395

Net loss
(16,977
)
 
(60
)
 
(17,037
)
The impact of the adoption of ASC 606 by financial statement line item within the Condensed Consolidated Statement of Operations for the three months ended December 31, 2018 is as follows:
 
December 31, 2018
 
 
 
December 31, 2018
($ in thousands)
As Reported
 
Adjustment
 
Under Legacy Guidance
 
 
 
 
 
 
STATEMENT OF OPERATIONS
 
 
 
 
 
License and transaction fees
29,837

 
(36
)
 
29,801

Selling, general and administrative
10,931

 
2

 
10,933

Net loss
(10,657
)
 
(37
)
 
(10,694
)
Performance Obligations
The following table reflects the estimated fees to be recognized in the future related to performance obligations that are unsatisfied at the end of the period:
($ in thousands)
As of December 31, 2018
 
 
2020
$
5,447

2021
10,161

2022
8,343

2023
6,754

2024 and thereafter
4,704

Total
$
35,409
Contract Liability
The Company’s contract liability (i.e., deferred revenue) balances are as follows:
 
 
Three months ended December 31,
 
Six months ended December 31,
($ in thousands)
 
2018
 
2018
 
 
 
 
 
Deferred revenue, beginning of the period
 
$
1,428

 
$
511

Plus: adjustment for adoption of ASC 606
 
—

 
1,127

Deferred revenue, beginning of the period, as adjusted
 
$
1,428

 
$
1,638

Deferred revenue, end of the period
 
1,437

 
1,437

Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period
 
65

 
221