REVENUES

9 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

REVENUES

REVENUES

Based on similar operational characteristics, the Company's revenues are disaggregated as follows:

	Three months ended March 31,				Nine months ended March 31,
($ in thousands)	2024		2023		2024		2023
Transaction fees	$	40,034	$	33,389	$	114,956	$	97,076
Subscription fees	19,173		17,856		55,415		50,176
Subscription and transaction fees	$	59,207	$	51,245	$	170,371	$	147,252
Equipment sales	8,690		9,111		25,568		32,216
Total revenues	$	67,897	$	60,356	$	195,939	$	179,468

Contract Liabilities

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

	Three months ended March 31,
($ in thousands)	2024		2023
Deferred revenue, beginning of the period	$	1,788	$	1,970
Deferred revenue, end of the period	1,893		1,894
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period	$	268	$	94

	Nine months ended March 31,
($ in thousands)	2024		2023
Deferred revenue, beginning of the period	$	1,666	$	1,893
Deferred revenue, end of the period	1,893		1,894
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period	$	475	$	319

The change in the contract liability balances period-over-period 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 March 31, 2024:

($ in thousands)	As of March 31, 2024
Remainder of fiscal year 2024	$	1,520
2025	5,941
2026	3,793
Thereafter	—
Total	$	11,254

Contract Costs

At March 31, 2024, the Company had net capitalized costs to obtain contracts of $0.9 million included in Prepaid expenses and other current assets and $2.4 million included in Other noncurrent assets on the Condensed Consolidated Balance Sheet. 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 Condensed Consolidated Balance Sheet. None of these capitalized contract costs were impaired.

During the three and nine months ended March 31, 2024, amortization of capitalized contract costs was $0.2 million and $0.7 million, respectively. During the three and nine months ended March 31, 2023, amortization of capitalized contract costs was $0.2 million and $0.6 million, respectively.