| Schedule of adoption of ASC 606 |
The effect of adoption of this new guidance on the Condensed Consolidated Balance Sheet as of July 1, 2018 was to increase prepaid expenses and other current assets, other assets, and deferred revenue, with an offsetting decrease in the opening accumulated deficit, as follows: | | | | | | | | | | | | | | June 30, 2018 | | | | July 1, 2018 | ($ in thousands) | As Reported | | Adjustment | | Revised | | | | | | | ASSETS | | | | | | Prepaid expenses and other current assets | $ | 929 |
| | $ | 251 |
| | $ | 1,180 |
| Other assets | 720 |
| | 1,254 |
| | 1,974 |
| LIABILITIES | | | | | | Deferred revenue | 511 |
| | 1,127 |
| | 1,638 |
| SHAREHOLDERS' EQUITY | | | | | | Accumulated deficit | (232,748 | ) | | 376 |
| | (232,372 | ) |
The impact of the adoption of ASC 606 by financial statement line item within the Condensed Consolidated Balance Sheet as of September 30, 2018 and Condensed Consolidated Statement of Operations for the three months ended September 30, 2018 is as follows: | | | | | | | | | | | | | | September 30, 2018 | | | | September 30, 2018 | ($ in thousands) | As Reported | | Adjustment | | Under Legacy Guidance | | | | | | | BALANCE SHEET | | | | | | Prepaid expenses and other current assets | $ | 1,463 |
| | $ | (253 | ) | | $ | 1,210 |
| Other assets | 1,900 |
| | (1,264 | ) | | 636 |
| Deferred revenue | 1,428 |
| | (1,116 | ) | | 312 |
| Accumulated deficit | (238,692 | ) | | (400 | ) | | (239,092 | ) | STATEMENT OF OPERATIONS | | | | |
|
| License and transaction fees | 28,971 |
| | (11 | ) | | 28,960 |
| Selling, general and administrative | 9,450 |
| | 12 |
| | 9,462 |
| Net loss | (6,320 | ) | | (23 | ) | | (6,343 | ) |
|
| Performance obligations |
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 September 30, 2018 | | | 2020 | 7,551 |
| 2021 | 9,256 |
| 2022 | 7,443 |
| 2023 | 5,887 |
| 2024 and thereafter | 3,629 |
| Total | $ | 33,766 |
|
|
| Contract liability |
The Company’s contract liability (i.e., deferred revenue) balances are as follows: | | | | | | | | Three months ended September 30, | ($ in thousands) | | 2018 | | | | Deferred revenue, beginning of the period | | $ | 511 |
| Plus: adjustment for adoption of ASC 606 | | 1,127 |
| Deferred revenue, beginning of the period, as adjusted | | 1,638 |
| Deferred revenue, end of the period | | 1,428 |
| Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period | | 156 |
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