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REVENUES
 6 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
Disaggregation of Revenue
We have four revenue streams: cloud services and subscriptions, customer support, license, and professional service and other. The following tables disaggregate our revenue by significant geographic area, based on the location of our direct end customer, by type of performance obligation and timing of revenue recognition for the periods indicated:
Three Months Ended December 31,Six Months Ended December 31,
2024202320242023
Total Revenues by Geography:
Americas (1)
$765,857 $884,287 $1,494,100 $1,729,514 
EMEA (2)
449,068 504,885 868,299 950,325 
Asia Pacific (3)
119,575 145,696 241,106 280,458 
Total revenues$1,334,500 $1,534,868 $2,603,505 $2,960,297 
Total Revenues by Type of Performance Obligation:
Recurring revenues (4)
Cloud services and subscriptions revenue
$462,306 $450,091 $919,330 $901,105 
Customer support revenue
590,595 695,762 1,186,085 1,393,475 
Total recurring revenues
$1,052,901 $1,145,853 $2,105,415 $2,294,580 
License revenue (perpetual, term and subscriptions) 188,923 289,238 314,736 462,264 
Professional service and other revenue92,676 99,777 183,354 203,453 
Total revenues$1,334,500 $1,534,868 $2,603,505 $2,960,297 
Total Revenues by Timing of Revenue Recognition:
Point in time $188,923 $289,238 $314,736 $462,264 
Over time (including professional service and other revenue)1,145,577 1,245,630 2,288,769 2,498,033 
Total revenues$1,334,500 $1,534,868 $2,603,505 $2,960,297 
______________________
(1)Americas consists of countries in North, Central and South America.
(2)EMEA consists of countries in Europe, the Middle East and Africa.
(3)Asia Pacific primarily consists of Japan, Australia, China, Korea, Philippines, Singapore, India and New Zealand.
(4)Recurring revenue is defined as the sum of Cloud services and subscriptions revenue and Customer support revenue.
Contract Balances
A contract asset, net of allowance for credit losses, will be recorded if we have recognized revenue but do not have an unconditional right to the related consideration from the customer. For example, this will be the case if implementation services offered in a cloud arrangement are identified as a separate performance obligation and are provided to a customer prior to us being able to bill the customer. In addition, a contract asset may arise in relation to subscription licenses if the license revenue that is recognized upfront exceeds the amount that we are able to invoice the customer at that time. Contract assets are reclassified to accounts receivable when the rights become unconditional.
The balance for our contract assets and contract liabilities (i.e. deferred revenues) for the periods indicated below were as follows:
As of December 31, 2024
As of June 30, 2024
Short-term contract assets
$68,487 $66,450 
Long-term contract assets
39,208 38,684 
Short-term deferred revenues
1,452,734 1,521,416 
Long-term deferred revenues
159,987 162,401 
The difference in the opening and closing balances of our contract assets and deferred revenues primarily results from the timing difference between our performance and customer payments. We fulfill our obligations under a contract with a customer
by transferring products and services in exchange for consideration from the customer. During the six months ended December 31, 2024, we reclassified $57.3 million (six months ended December 31, 2023 — $58.5 million) of contract assets to receivables as a result of the right to the transaction consideration becoming unconditional. During the three and six months ended December 31, 2024 and 2023, respectively, there was no impairment loss recognized related to contract assets.
We recognize deferred revenue when we have received consideration or an amount of consideration is due from the customer for future obligations to transfer products or services. Our deferred revenues primarily relate to cloud services and customer support agreements which have been paid for by customers prior to the performance of those services. The amount of revenue that was recognized during the six months ended December 31, 2024 that was included in the deferred revenue balances at June 30, 2024 was $1,131 million (six months ended December 31, 2023—$1,268 million).
Incremental Costs of Obtaining a Contract with a Customer
Incremental costs of obtaining a contract include only those costs that we incur to obtain a contract that we would not have incurred if the contract had not been obtained, such as sales commissions. The following table summarizes the changes in total capitalized costs to obtain a contract, since June 30, 2024:
Capitalized costs to obtain a contract as of June 30, 2024
$109,488 
New capitalized costs incurred23,346 
Amortization of capitalized costs(20,821)
Impact of foreign exchange rate changes(1,034)
Capitalized costs to obtain a contract as of December 31, 2024
$110,979 
During the three and six months ended December 31, 2024 and 2023, respectively, there was no significant impairment loss recognized related to capitalized costs to obtain a contract. Refer to Note 7 “Prepaid Expenses and Other Assets” for additional information on incremental costs of obtaining a contract.
Remaining Performance Obligations
Remaining performance obligations (RPO) represent contracted revenue that has not yet been recognized. They include amounts recognized as deferred revenue and amounts that are contracted but will be billed and recognized as revenue in future periods.
As of December 31, 2024, the Company elected to include RPO for contracts with an original expected duration of one year or less in accordance with ASC 606-10-50-14, and will discontinue use of the practical expedient relating to the disclosure of RPO within a contract. The Company believes this presentation is preferable as it provides additional information. Comparative amounts have not been provided for the quarter ended December 31, 2023 as such information cannot be practically determined for comparison purposes.
The following chart provides RPO information as of the following periods. The 12-month periods noted below are as of the dates presented, with the remaining balances recognized substantially over the next three years thereafter.

($ in billions)
As of December 31, 2024
As of September 30, 2024
As of June 30, 2024
Total RPO (1)
$4.1 $3.9 $4.0 
% recognized as revenue over the following 12 months
63%
63%
63%
Cloud services and subscription RPO
$2.3 $2.2 $2.2 
% recognized as revenue over the following 12 months
50%
51%
51%
Customer support and other RPO (2)
$1.8 $1.7 $1.8 
% recognized as revenue over the following 12 months
79%
78%
78%
______________________
(1)RPO amounts presented may be impacted by certain estimates including currency fluctuations, estimates of customers’ deployment of contracted solutions, changes in the scope or termination of contracts, among other factors, and are therefore subject to change.
(2)Customer support and other RPO is primarily comprised of obligations related to customer support revenues, and to a lesser extent license, professional services and other revenues.