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FINANCE RECEIVABLES
 9 Months Ended
Mar. 31, 2024
Receivables [Abstract]  
FINANCE RECEIVABLES FINANCE RECEIVABLES
The Company's finance receivables consist of financed 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. As of March 31, 2024 and June 30, 2023, finance receivables consist of the following:
($ in thousands)March 31,
2024		June 30,
2023
Current finance receivables, net$5,781 $6,668 
Finance receivables due after one year, net11,041 13,307 
Total finance receivables, net of allowance of $2,212 and $2,098, respectively
$16,822 $19,975 

We collect lease payments from customers primarily as part of the flow of funds from our transaction processing service. 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.

Credit risk for finance receivables is continuously monitored by management and reflected within the allowance for finance receivables. As our finance receivables generally have similar risk characteristics, our key credit quality indicator is the aging (days past due status) of our aggregated finance receivables balances. Specifically, we estimate our allowance by using an aging analysis of the aggregated finance receivables balances, primarily based on historical loss experience. Additionally, current conditions are analyzed to determine if the allowance calculation needs to be adjusted further for any qualitative factors impacting a customer’s ability to meet its financial obligations that is not already reflected through the historical loss analysis. The Company writes off finance receivable balances against the allowance for credit losses when management determines the balance is uncollectible and the Company ceases collection efforts.

At March 31, 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 AgoBetween 1 and 2 Years AgoBetween 2 and 3 Years AgoBetween 3 and 4 Years AgoBetween 4 and 5 Years AgoMore than 5 Years AgoTotal
Current$2,284 $7,423 $4,399 $1,225 $523 $25 $15,879 
30 days and under12 70 87 40 72 42 323 
31-60 days6 48 65 31 45 40 235 
61-90 days5 43 54 26 40 35 203 
Greater than 90 days41 716 436 65 272 864 2,394 
Total finance receivables$2,348 $8,300 $5,041 $1,387 $952 $1,006 $19,034 


At June 30, 2023, 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 AgoBetween 1 and 2 Years AgoBetween 2 and 3 Years AgoBetween 3 and 4 Years AgoBetween 4 and 5 Years AgoMore than 5 Years AgoTotal
Current$6,595 $6,505 $3,304 $1,306 $846 $829 $19,385 
30 days and under66 73 69 52 22 68 350 
31-60 days53 40 32 42 19 71 257 
61-90 days60 52 26 32 16 71 257 
Greater than 90 days155 132 197 233 271 836 1,824 
Total finance receivables$6,929 $6,802 $3,628 $1,665 $1,174 $1,875 $22,073 


The following table represents a rollforward of the allowance for finance receivables for the nine months ended March 31, 2024 and 2023:

Nine months ended
March 31,
($ in thousands)20242023
Balance at June 30$2,098 $760 
Provision for expected losses51 392 
Write-offs— — 
Balance at September 302,149 1,152 
Provision for expected losses108 — 
Write-offs— (288)
Balance at December 312,257 864 
Provision for expected losses(45)— 
Write-offs— — 
Balance at March 31$2,212 $864 
Cash to be collected on our performing finance receivables due for each of the fiscal years is as follows:
($ in thousands)
2024$7,096 
20256,228 
20264,371 
20272,295 
2028695 
Thereafter14 
Total amounts to be collected20,699 
Less: interest(1,665)
Less: allowance for uncollectible receivables(2,212)
Total finance receivables$16,822