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STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Jun. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Based Compensation Plans | The Company has three active stock-based compensation plans at June 30, 2024 as shown in the table below:
Date Approved |  | Name of Plan |  | Type of Plan |  | Authorized Shares
June 2014 |  | 2014 Stock Option Incentive Plan |  | Stock options |  | 750,000 |
June 2015 |  | 2015 Equity Incentive Plan |  | Stock & stock options |  | 1,250,000 |
April 2018 |  | 2018 Equity Incentive Plan |  | Stock & stock options |  | 10,000,000 |
|  |  |  |  |  | 12,000,000 |
Schedule of Common Stock for Future Issuance | As of June 30, 2024, the Company had reserved shares of Common Stock for future issuance for the following:
Common Stock |  | Reserved Shares
Conversions of Preferred Stock and cumulative Preferred Stock dividends |  | 95,558 |
Issuance of shares to former executive upon the occurrence of a Cantaloupe transaction (1) |  | 140,000 |
Total shares reserved for future issuance |  | 235,558 |
(1)Represents 140,000 shares issuable to our former executive upon the occurrence of a "USA Transaction" as such term is defined in the stock agreement. As of June 30, 2024, the Company had the following shares available for issuance under the respective incentive plans:
Incentive Plan |  | Available Options
Issuance under 2014 Stock Option Incentive Plan |  | 15,687 |
Issuance under 2015 Equity Incentive Plan |  | 369,157 |
Issuance under 2018 Equity Incentive Plan |  | 4,170,267 |
Total options available for future issuance |  | 4,555,111 |
Schedule of Stock Option Granted Weighted Average Assumptions | The fair value of options granted during the years ended June 30, 2024, 2023, and 2022 was determined using the following assumptions:
| For the year ended June 30,
| 2024 |  | 2023 |  | 2022
Expected volatility | 52.6 - 69.7% |  | 74.6 - 77.6% |  | 73.2 - 74.6%
Expected life (years) | 4.2 - 4.5 |  | 4.4 - 4.6 |  | 4.5 - 4.6
Expected dividends | 0.0% |  | 0.0% |  | 0.0%
Risk-free interest rate | 4.0 - 4.4% |  | 2.7 - 4.1% |  | 1.0 - 2.9%
Schedule of Information Related to Outstanding Options | The following tables provide information about outstanding options for the years ended June 30, 2024, 2023, and 2022:
| For the year ended June 30, 2024
Number of Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding options, beginning of year | 3,873,632 |  |  | $ | 6.35 |  |  | 5.1 |  | $ | 7,595 |
Granted | 175,000 |  |  | $ | 6.92 |  |  |  |  |
Exercised | (18,334) |  |  | $ | 6.06 |  |  |  |  | $ | — |
Forfeited | (29,799) |  |  | $ | 6.90 |  |  |  |  |
Expired | (28,665) |  |  | $ | 4.40 |  |  |  |  |
Outstanding options, end of year | 3,971,834 |  |  | $ | 6.63 |  |  | 4.3 |  | $ | 3,582 |
Exercisable options, end of year | 2,602,259 |  |  | $ | 7.28 |  |  | 3.8 |  | $ | 1,085 |
| For the year ended June 30, 2023
Number of Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding options, beginning of year | 3,529,833 |  |  | $ | 7.41 |  |  | 4.5 |  | $ | 194 |
Granted | 1,720,000 |  |  | $ | 4.61 |  |  |  |  |
Exercised | — |  |  | $ | — |  |  |  |  | $ | — |
Forfeited | (1,376,201) |  |  | $ | 6.86 |  |  |  |  |
Expired | — |  |  | $ | — |  |  |  |  |
Outstanding options, end of year | 3,873,632 |  |  | $ | 6.35 |  |  | 5.1 |  | $ | 7,595 |
Exercisable options, end of year | 1,341,466 |  |  | $ | 7.26 |  |  | 3.9 |  | $ | 1,536 |
| For the year ended June 30, 2022
| Number of Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding options, beginning of year | 2,952,092 |  |  | $ | 6.97 |  |  | 5.6 |  | $ | 14,419 |
Granted | 904,500 |  |  | $ | 8.86 |  |  |  |  |
Exercised | (121,248) |  |  | $ | 6.30 |  |  |  |  | $ | (53) |
Forfeited | (205,511) |  |  | $ | 8.09 |  |  |  |  |
Expired | — |  |  | $ | — |  |  |  |  |
Outstanding options, end of year | 3,529,833 |  |  | $ | 7.41 |  |  | 4.5 |  | $ | 194 |
Exercisable options, end of year | 1,538,302 |  |  | $ | 6.79 |  |  | 4.5 |  | $ | 183 |
Schedule of Nonvested Share Activity | A summary of the status of the Company’s nonvested common shares and RSUs as of June 30, 2024, 2023, and 2022, and changes during the years then ended is presented below:
| Shares |  | Weighted-Average Grant-Date Fair Value
Nonvested at June 30, 2021 | 137,846 |  |  | $ | 9.57 |
Granted | 507,729 |  |  | $ | 7.33 |
Vested | (101,515) |  |  | $ | 10.34 |
Forfeited | (95,152) |  |  | $ | 8.89 |
Nonvested at June 30, 2022 | 448,908 |  |  | $ | 7.00 |
Granted | 346,346 |  |  | $ | 5.41 |
Vested | (274,011) |  |  | $ | 5.96 |
Forfeited | (97,342) |  |  | $ | 8.27 |
Nonvested at June 30, 2023 | 423,901 |  |  | $ | 6.08 |
Granted | 439,363 |  |  | $ | 6.72 |
Vested | (311,093) |  |  | $ | 6.38 |
Forfeited | (4,207) |  |  | $ | 7.58 |
Nonvested at June 30, 2024 | 547,964 |  |  | $ | 6.41 |
Schedule of Stock-based Compensation Expense | A summary of the Company's stock-based compensation expense recognized during the years ended June 30, 2024, 2023, and 2022 is as follows:
($ in thousands) |  | For the year ended June 30,
Award type |  | 2024 |  | 2023 |  | 2022
Stock options |  | $ | 2,992 |  |  | $ | 2,967 |  |  | $ | 4,424 |
Stock grants |  | 2,117 |  |  | 1,770 |  |  | 1,824 |
Total stock-based compensation expense |  | $ | 5,109 |  |  | $ | 4,737 |  |  | $ | 6,248 |
A summary of the Company's unrecognized stock-based compensation expense as of June 30, 2024 is as follows:
|  | As of June 30, 2024
Award type |  | Unrecognized Expense (in thousands) |  | Weighted Average Recognition Period (in years)
Stock options |  | $ | 1,566 |  |  | 1.3
Stock grants |  | $ | 2,225 |  |  | 1.5

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