FINANCE RECEIVABLES

9 Months Ended

Mar. 31, 2020

The Company's finance receivables consist of financed devices under the Quickstart program and Cantaloupe devices contractually associated with the Seed platform. Predominately all of the Company's finance receivables agreements are classified as non-cancellable 60 month sales-type leases. As of March 31, 2020 and June 30, 2019 finance receivables consist of the following:



($ in thousands)	March 31, 2020		June 30, 2019
Current finance receivables, net	$	7,941	6,727
Finance receivables due after one year, net	11,541		12,642
Total finance receivables, net of allowance of $702 and $606, respectively	$	19,482	$	19,369

The Company routinely evaluates outstanding finance receivables for impairment based on past due balances or accounts otherwise determined to be at a higher risk of loss. A finance receivable is classified as nonperforming if it is considered probable the Company will be unable to collect all contractual interest and principal payments as scheduled.

At March 31, 2020 and June 30, 2019, credit quality indicators consisted of the following:



($ in thousands)	March 31, 2020		June 30, 2019
Performing	$	19,482	$	19,369
Nonperforming	702		606
Total	$	20,184	$	19,975

As part of the financing under the Quickstart program and Cantaloupe devices contractually associated with the Seed platform, the Company has contractually granted deferred payment terms, where the entire sequence of up to 60 monthly payments are deferred by an agreed upon period. The “Deferred Payment Arrangements / Timing” column represents amounts subject to the agreed upon deferral period or amounts subject to adjustments related to situations where a third party is financing the receivable. The “Other Finance Receivables” column represents an aging schedule for finance receivables not subject to such deferral arrangements and other non-performing receivables.



	March 31, 2020						June 30, 2019
($ in thousands)	Deferred Payment Arrangements / Timing		Other Finance Receivables		Total		Total
Current	$	18,367	$	353	$	18,720	$	19,133
0-30 days	37		103		140		190
31-60 days	193		44		237		49
61-90 days	34		36		70		146
Greater than 91 days	513		504		1,017		457
Total finance receivables (gross)	$	19,144	$	1,040	$	20,184	$	19,975

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



($ in thousands)
2020	$	4,977
2021	6,159
2022	5,513
2023	3,908
2024	1,957
Thereafter	79
Total amounts to be collected	22,593
Less: interest	(2,409		)
Less: allowance for nonperforming receivables	(702		)
Total finance receivables	$	19,482