REVENUE

12 Months Ended

Jun. 30, 2025

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)	2025		2024		2023
Transaction fees	$	179,534	$	156,166	$	132,594
Subscription fees	83,594		75,331		67,629
Subscription and transaction fees	263,128		231,497		200,223
Equipment sales	39,420		37,099		43,418
Total revenues	$	302,548	$	268,596	$	243,641

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 the QuickStart program which is accounted for as sales-type finance leases in accordance with ASC 842. The Company's revenues earned under ASC Topic 842 are as follows:

	Year-ended June 30,
($ in thousands)	2025		2024		2023
Operating leases	$	9,046	$	8,246	$	7,567
Sales-type finance leases	1,449		2,882		6,464
Total lease revenues	$	10,495	$	11,128	$	14,031

Other than the revenues described above, all of the Company's revenues are earned under ASC 606.

Contract Assets

Contract assets represent revenue earned from customers that is not yet billable to a customer, 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 Consolidated Balance Sheets. Contract assets were $3.3 million, $2.6 million, and $0.6 million as of June 30, 2025, 2024, and 2023, respectively.

Contract Liabilities

The change in the contract liability balances, presented as Deferred revenue on the 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:

	Year ended June 30,
($ in thousands)	2025		2024
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	(717)		(617)
Additions	981		677
Deferred revenue, end of the period	$	1,990	$	1,726

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 is 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, 2025:

($ in thousands)	Year ended June 30,
2026	$	4,369
2027	1,876
2028	532
Total	$	6,777

Contract Costs

At June 30, 2025 and 2024, the Company had net capitalized costs to obtain contracts of $1.0 million and $0.9 million included in Prepaid expenses and other current assets and $2.7 million and $2.4 million included in Other assets on the Consolidated Balance Sheets, respectively. None of these capitalized contract costs were impaired. Amortization of capitalized contract costs were $1.0 million for both the years ended June 30, 2025 and 2024. Amortization of costs to obtain a contract are included within Sales and marketing expenses within the Consolidated Statements of Operations.