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REVENUES
 3 Months Ended
Sep. 30, 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
September 30,
($ in thousands)20242023
Transaction fees$43,604 $37,030 
Subscription fees20,188 18,105 
Subscription and transaction fees63,792 55,135 
Equipment sales7,044 7,548 
Total revenues$70,836 $62,683 

A portion of the Company’s revenues relate to rental lease arrangements. The Company leases equipment to customers under the Cantaloupe One program which is accounted for as operating leases in accordance with ASC 842. Lease revenue is recognized on a straight-line basis over the term of the lease. As described in Note 4 - Finance Receivables, the Company leases equipment under sales-type finance leases in accordance with ASC 842.
The Company's revenues earned under ASC Topic 842 are as follows:
Three months ended
September 30,
($ in thousands)20242023
Operating leases
$2,318 $1,990 
Sales-type finance leases
640692
Total lease revenues
$2,958 $2,682 

Contract Assets
Contract assets represent revenues earned from customers that are not yet billable to customers, generally due to the timing of when equipment and services are delivered to customers on bundled contracts, or as a result of contracts costs as described below. Contract assets that will be billed within the next 12 months are included in Prepaid expenses and other current assets and all others are included in Other assets on the Condensed Consolidated Balance Sheets. Contract assets were $2.5 million and $2.6 million, as of September 30, 2024 and June 30, 2024.

Contract Liabilities

The change in the contract liability balances, presented as Deferred revenue on the Condensed Consolidated Balance Sheets, is primarily the result of timing difference between the Company’s satisfaction of a performance obligation and payment from the customer.
The Company's contract liability (i.e., deferred revenue) balances are as follows:
Three months ended September 30,
($ in thousands)20242023
Deferred revenue, beginning of the period$1,726 $1,666 
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period(324)(92)
Additions69 366 
Deferred revenue, end of the period$1,471 $1,940 
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 September 30, 2024:
($ in thousands)As of September 30, 2024
Remainder of fiscal year 2025$4,341 
20264,250 
20271,084 
Thereafter 26
     Total$9,701 

Contract Costs

The Company had net capitalized costs to obtain contracts of $0.9 million and $0.9 million included in Prepaid expenses and other current assets and $2.4 million and $2.4 million included in Other noncurrent assets on the Condensed Consolidated Balance Sheets as of September 30, 2024 and June 30, 2024, respectively. None of these capitalized contract costs were impaired.
During the three months ended September 30, 2024 and September 30, 2023, amortization of capitalized contract costs was $0.2 million and $0.2 million, respectively. Amortization of costs to obtain a contract are included within Sales and marketing expenses within the Consolidated Statement of Operations.