XML 27 R11.htm IDEA: XBRL DOCUMENT
v3.22.1

REVENUE | 9 Months Ended
--- | ---
Mar. 31, 2022
Revenue from Contract with Customer [Abstract] |
REVENUE | REVENUE Disaggregated Revenue Beginning in the first quarter of fiscal year 2022, the Company disaggregated Subscription and transaction fees presented on the Condensed Consolidated Statement of Operations to Transaction fees and Subscription fees categories (described below) as this additional disclosure provides greater visibility into the Company's revenue streams and better aligns the Company’s financial performance including how management views and monitors business operations and makes strategic decisions. •Transaction fees: The Company charges its customers a transaction fee generally calculated as a percentage rate on volumes processed through our payment devices. •Subscription fees: Subscription fees are primarily comprised of the monthly service fee charged to our customers for our cashless payment services, service fees originated through our rental program and Seed software services that include inventory management, route logistics optimization, warehouse and accounting management, and responsive merchandising. Based on similar operational characteristics, the Company's revenue is disaggregated as follows:
| Three months ended March 31, |  | Nine months ended March 31,
($ in thousands) | 2022 |  | 2021 |  | 2022 |  | 2021
Transaction fees | $ | 27,509 |  |  | $ | 21,002 |  |  | $ | 80,704 |  |  | $ | 61,133 |
Subscription fees | 14,634 |  |  | 13,684 |  |  | 43,252 |  |  | 39,875 |
Subscription and transaction fees | 42,143 |  |  | 34,686 |  |  | 123,956 |  |  | 101,008 |
Equipment sales | 8,157 |  |  | 8,074 |  |  | 23,215 |  |  | 16,913 |
Total revenues | $ | 50,300 |  |  | $ | 42,760 |  |  | $ | 147,171 |  |  | $ | 117,921 |
Disaggregation of revenues for the previously reported quarters for fiscal year-ended June 30, 2021 utilizing the above described methodology is presented as follows:
|  | Three months ended |  | Year ended June 30, 2021
($ in thousands) |  | September 30, 2020 |  | December 31, 2020 |  | March 31, 2021 |  | June 30, 2021 |
Transaction fees |  | $ | 19,677 |  |  | $ | 20,454 |  |  | $ | 21,002 |  |  | $ | 24,365 |  |  | $ | 85,498 |
Subscription fees |  | 13,431 |  |  | 12,760 |  |  | 13,684 |  |  | 13,869 |  |  | 53,744 |
Subscription and transaction fees |  | 33,108 |  |  | 33,214 |  |  | 34,686 |  |  | 38,234 |  |  | 139,242 |
Equipment sales |  | 3,769 |  |  | 5,071 |  |  | 8,074 |  |  | 10,783 |  |  | 27,697 |
Total revenues |  | $ | 36,877 |  |  | $ | 38,285 |  |  | $ | 42,760 |  |  | $ | 49,017 |  |  | $ | 166,939 |
Transaction Price Allocated to Future Performance Obligations In determining the transaction price allocated to future performance obligations, we do not include non-recurring charges. Further, we apply the practical expedient to not consider arrangements with an original expected duration of one year or less, which are primarily month-to-month rental agreements. The majority of our contracts have a contractual term of between 36 and 60 months based on implied and explicit termination penalties. These amounts will be converted into revenue in future periods as work is performed, primarily based on the services provided or at delivery and acceptance of products, depending on the applicable accounting method for the services or products being delivered. The following table reflects the estimated fees to be recognized in the future related to performance obligations that are unsatisfied at the end of the period:
($ in thousands) | As of March 31, 2022
2022 | $ | 3,677 |
2023 | 13,562 |
2024 | 9,434 |
2025 | 5,737 |
2026 | 3,837 |
Thereafter | 1,223 |
Total | $ | 37,470 |
Contract Liabilities The Company’s contract liability (i.e., deferred revenue) balances are as follows:
|  | Three months ended March 31, |  | Three months ended March 31,
($ in thousands) |  | 2022 |  | 2021
Deferred revenue, beginning of the period |  | $ | 1,745 |  |  | $ | 1,648 |
Deferred revenue, end of the period |  | 1,970 |  |  | 1,670 |
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period |  | 87 |  |  | 97 |
|  | Nine months ended March 31, |  | Nine months ended March 31,
($ in thousands) |  | 2022 |  | 2021
Deferred revenue, beginning of the period |  | $ | 1,763 |  |  | $ | 1,698 |
Deferred revenue, end of the period |  | 1,970 |  |  | 1,670 |
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period |  | 301 |  |  | 274 |
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. Contract Costs At March 31, 2022, the Company had net capitalized costs to obtain contracts of $0.4 million included in Prepaid expenses and other current assets and $2.1 million included in Other noncurrent assets on the Condensed Consolidated Balance Sheet. At June 30, 2021, the Company had net capitalized costs to obtain contracts of $0.4 million included in Prepaid expenses and other current assets and $2.0 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, 2022, amortization of capitalized contract costs was $0.2 million and $0.5 million. During the three and nine months ended March 31, 2021, amortization of capitalized contract costs was $0.2 million and $0.4 million.

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration