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Revenue Recognition

9 Months Ended

Mar. 31, 2024

Revenue Recognition

Revenue Recognition

2. REVENUE RECOGNITION

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Disaggregation of Revenue

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The following table presents our subscription and professional services revenue during the three and nine months ended March 31, 2024 and 2023, respectively (in thousands):

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​	​	​	​	​	​	​	​	​	​	​	​
​	​	Three Months Ended				​	​	Nine Months Ended
​	​	March 31,				​	​	March 31,
​	2024			2023		​	2024			2023
Revenue:	​	​	​	​	​	​	​	​	​	​	​
SaaS revenue	$	20,277	​	$	20,854	​	$	64,480	​	$	66,911
Legacy revenue	​	47	​	​	126	​	​	163	​	​	606
Total subscription revenue	​	20,324	​	​	20,980	​	​	64,643	​	​	67,517
Professional services revenue		2,026	​		2,033	​		5,698	​		5,859
Total revenue	$	22,350	​	$	23,013	​	$	70,341	​	$	73,376

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The following table presents our revenue recognized over-time and at a point-in-time during the three and nine months ended March 31, 2024 and 2023, respectively (in thousands):

​	​	​	​	​	​	​	​	​	​	​	​
​	​	Three Months Ended				​	​	Nine Months Ended
​	​	March 31,				​	​	March 31,
​	2024		​	2023		​	2024		​	2023
Revenue:	​	​	​	​	​	​	​	​	​	​	​
Over-time	$	20,141	​	$	20,650	​	$	62,582	​	$	64,773
Point-in-time	​	2,209	​	​	2,363	​	​	7,759	​	​	8,603
Total revenue	$	22,350	​	$	23,013	​	$	70,341	​	$	73,376

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The following table presents our revenue by geography. Revenue by geography is generally determined on the region of our contracting entity rather than the region of our customer. The relative proportion of our total revenue between each geographic region as presented in the table below was materially consistent across each of our operating regions’ revenue for the periods presented (in thousands):

​	​	​	​	​	​	​	​	​	​	​	​
​	Three Months Ended					​	Nine Months Ended
​	March 31,					​	March 31,
​	2024			2023		​	2024			2023
Revenue:	​	​	​	​	​	​	​	​	​	​	​
North America	$	17,417	​	$	17,856	​	$	55,242	​	$	56,778
Europe, Middle East, & Africa	​	4,933	​		5,157	​		15,099	​		16,598
Total revenue	$	22,350	​	$	23,013	​	$	70,341	​	$	73,376

Contract Balances

Contract assets, if any, consist of unbilled receivables for completed performance obligations which have not been invoiced, and for which we do not have an unconditional right to consideration. Unbilled receivables are included in accounts receivable, less provision for credit losses on our condensed consolidated balance sheets. Contract liabilities consist of deferred revenue for which we have an obligation to transfer services to customers and have received consideration in advance or the amount is due from customers. Once the obligations are fulfilled, then deferred revenue is recognized to revenue in the respective period.

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The following table presents our contract liabilities (in thousands):

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​	​	​	​	​	​	​
​		March 31, 2024		​	June 30, 2023
Contract liabilities:	​	​	​	​	​	​
Deferred revenue	​	$	34,342	​	$	47,762
Deferred revenue, net of current portion	​	​	3,157	​		2,101
Total deferred revenue	​	$	37,499	​	$	49,863

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$8.2 million and $31.6 million of deferred revenue as of June 30, 2023 was recognized to revenue during the three and nine months ended March 31, 2024, respectively.

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Remaining Performance Obligations

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Remaining performance obligations represent contracted revenue that had not yet been recognized, and include deferred revenue, invoices that have been issued to customers but were uncollected and have not been recognized as revenue, and amounts that will be invoiced and recognized as revenue in future periods. The transaction price allocated to the remaining performance obligation is influenced by a variety of factors, including seasonality, timing of renewals, average contract terms and foreign currency exchange rates. As of March 31, 2024, our remaining performance obligations were $67.7 million of which we expect to recognize $47.9 million and $19.8 million as revenue within one year and beyond one year, respectively.

X

- References

No definition available.

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- 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

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-Topic 606
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Paragraph 12
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 12
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 12
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

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-Topic 606
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

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