REVENUE

12 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

REVENUE

REVENUE

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

	Year-ended June 30,
($ in thousands)	2023		2022		2021
Transaction fees	$	132,594	$	110,695	$	85,497
Subscription fees	67,629		58,155		53,745
Subscription and transaction fees	200,223		168,850		139,242
Equipment sales	43,418		36,352		27,697
Total revenues	$	243,641	$	205,202	$	166,939

Contract Liabilities

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

	Year ended June 30,
($ in thousands)	2023		2022
Deferred revenue, beginning of the period	$	1,893	$	1,763
Deferred revenue, end of the period	1,666		1,893
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period	576		383

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

Future Performance Obligations

The Company will recognize revenue in future periods related to remaining performance obligations for certain open contracts. Generally, these contracts have terms of one year or less. The amount of revenue related to unsatisfied performance obligations in which the original duration of the contract is greater than one year are primarily associated with the Company's Cantaloupe ONE rental program which has a contractual term of 36 months. The following table reflects the estimated fees to be recognized in the future related to performance obligations that are unsatisfied as of June 30, 2023:

($ in thousands)	As of June 30, 2023
2024	$	4,860
2025	4,775
Thereafter	2,257
Total	$	11,892

Contract Costs

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

At June 30, 2022, the Company had net capitalized costs to obtain contracts of $0.5 million included in Prepaid expenses and other current assets and $2.3 million included in Other noncurrent assets on the Consolidated Balance Sheets. None of these capitalized contract costs were impaired. During the year ended June 30, 2022, amortization of capitalized contract costs was $0.7 million.