3. REVENUE RECOGNITION

Disaggregation of Revenue

The following table presents our SaaS and professional services revenue during the fiscal years ended June 30, 2025 and 2024, respectively:

Fiscal Year Ended June 30,

2025

2024

(in thousands)

Revenue:

SaaS revenue

$

81,921

$

85,082

Professional services

6,510

7,721

Total revenue

$

88,431

$

92,803

The following table presents our revenue recognized over-time and at a point-in-time during the fiscal years ended June 30, 2025 and 2024, respectively:

Fiscal Year Ended June 30,

2025

2024

(in thousands)

Revenue:

Over-time

$

82,549

$

81,415

Point-in-time

5,882

11,388

Total revenue

$

88,431

$

92,803

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 revenues between each

geographic region as presented in the table below was materially consistent across each of our operating segments’ revenues for the periods presented.

Fiscal Year Ended June 30,

2025

2024

(in thousands)

Revenue:

North America

$

68,778

$

72,611

Europe, Middle East, & Africa

19,653

20,192

Total revenue

$

88,431

$

92,803

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 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.

The following table presents the changes in contract liabilities (in thousands):

    

Balance as of
June 30, 2025
($)

    

Balance as of
June 30, 2024
($)

Contract liabilities:

Deferred revenue

48,765

45,989

Deferred revenue, net of current portion

 

1,766

3,280

All deferred revenue as of June 30, 2024 was recognized as revenue during the fiscal year ended June 30, 2025.

Remaining Performance Obligations

Remaining performance obligations represent contracted revenue that had not yet been recognized, and include billed deferred revenue, consisting of amounts invoiced to customers whether collected or uncollected which have not been recognized as revenue, as well as unbilled 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 June 30, 2025, our remaining performance obligations were $91.6 million of which we expect to recognize $63.0 million and $28.6 million as revenue within one year and beyond one year, respectively.  

Historical Timeline

Fiscal YearFiled
2025Sep 12, 2025Showing above
2024Sep 12, 2024
2023Sep 14, 2023
2022Sep 13, 2022
2021Sep 10, 2021
2020Sep 11, 2020
2019Sep 12, 2019

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.