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REVENUE RECOGNITION
 9 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION
2. REVENUE RECOGNITION
Nature of Goods and Services
The following is a description of principal activities from which the Company generates its revenue. Contracts with customers are evaluated on a contract-by-contract basis as contracts may include multiple types of goods and services as described below.
Software License
Software license revenue is generated from on-premise software license sales. Software is typically sold as a time-based license with a term of one to three years. For software license agreements that are distinct, the Company recognizes software license revenue upon delivery and after evidence of a contract exists. The Company’s standard payment terms are generally no more than 60 days. Invoices for software are typically issued when the license is made available for customer use.
SaaS, Maintenance, and Other
Software as a service (“SaaS”), maintenance, and other revenue is generated from the sale of SaaS products and services, maintenance associated with the sale of on-premise software licenses, and consulting and professional services. The Company’s SaaS products give customers the option to be charged upon their incurred usage in arrears (“Pay as You Go”), subscribe for access over a contracted period, or commit to a minimum spend over their contracted period, with the ability to purchase additional transactions above the minimum during the contract term. Revenue related to Pay as You Go contracts is generally recognized based on the customer’s actual usage in the period of usage. For contracts which include a minimum commitment, the Company has stand-ready obligation to provide the services throughout the contract term, and revenue is primarily recognized on a ratable basis over the contract period including an estimate of usage above the minimum commitment. Usage above minimum commitment is estimated by looking at historical usage, expected volume, and other factors to project usage for the remainder of the contract term. The estimated usage-based revenues are constrained to the amount the Company expects to be entitled to receive in exchange for providing access to its platform. Maintenance and support services generally call for the Company to provide software updates and technical support to customers and is recognized ratably over the term of the contract as the services are delivered. If professional services are deemed to be distinct, revenue is recognized as services are performed. The Company does not view the signing of the contract or the provision of initial setup services as discrete earnings events that are distinct. The Company’s standard payment terms are generally no more than 60 days. SaaS (other than Pay as You Go) and maintenance services are typically invoiced annually in advance, and consulting and professional services are typically invoiced at the time of sale.
Significant Judgments in Application of the Guidance
The significant judgments applied in recognizing revenue, including the identification of performance obligations, determination and allocation of transaction price, and estimation of variable consideration, are described in Note 2 to the consolidated financial statements included in the Company’s 2025 Annual Report. There have been no changes to these judgments or the methods used to apply them during the nine months ended June 30, 2026.
Disaggregation of Revenue
The following table presents the Company's revenue disaggregated by major product category (amounts in thousands):
Three Months Ended June 30,Nine Months Ended June 30,
2026202520262025
Major product category
Fraud and identity solutions
SaaS
$24,833$18,100$65,728$52,183
Software license and support
3,6126,94412,60911,509
Professional services and other
5864911,8641,531
Total fraud and identity solutions revenue
29,03125,53580,20165,223
Check verification solutions
SaaS
1,3191,1613,8813,500
Software license and support
23,40818,84667,92765,454
Professional services and other
2801871,114735
Total check verification solutions revenue
25,00720,19472,92269,689
Total by revenue type
SaaS
26,15219,26169,60955,683
Software license and support
27,02025,79080,53676,963
Professional services and other
8666782,9782,266
Total revenue
$54,038$45,729$153,123$134,912
Software license is included within Software License revenue on the condensed consolidated statements of operations and comprehensive income (loss) for all periods presented. SaaS, software license support, and professional services and other are included within SaaS, maintenance, and other on the condensed consolidated statements of operations and comprehensive income (loss) for all periods presented.
Total Revenue by Geographic Location
Revenues by geography are determined based on the region of the Company's contracting entity, which may be different from the region of the customer. The United States and the United Kingdom were the only countries that accounted for more than 10% of the Company’s revenue in the three and nine months ended June 30, 2026 and 2025. Revenue for the three and nine months ended June 30, 2026 and 2025 were as follows (amounts in thousands):
Three Months Ended June 30,Nine Months Ended June 30,
2026202520262025
United States
$43,931$35,354$119,092$103,430
United Kingdom5,6995,66917,38015,442
All other countries
4,4084,70616,65116,040
Total revenue
$54,038$45,729$153,123$134,912
Contract Balances
The following table provides information about accounts receivable, contract assets and contract liabilities from contracts with customers (amounts in thousands):
June 30, 2026September 30, 2025June 30, 2025September 30, 2024
Accounts receivable, net
$52,306 $36,811 $40,207 $31,682 
Contract assets, current8,763 12,687 12,180 15,818 
Contract assets, non-current2,062 1,405 1,403 3,620 
Contract liabilities (deferred revenue), current34,501 29,061 25,925 21,231 
Contract liabilities (deferred revenue), non-current1,615 1,085 843 753 
Contract assets primarily result from when transfer of control occurs but the right to receive consideration is conditional upon factors other than the passage of time. Contract liabilities primarily relate to advance consideration received from customers (deferred revenue), for which transfer of control occurs, and therefore revenue is recognized, as services are provided. Contract balances are reported in a net contract asset or liability position on a contract-by-contract basis at the end of each reporting period. The Company recognized $4.6 million and $3.6 million of revenue during the three months ended June 30, 2026, and 2025, respectively, and $27.2 million and $19.9 million of revenue during the nine months ended June 30, 2026 and 2025, respectively, which was included in the contract liability balance at the beginning of each such period. The Company maintained an allowance for credit losses of $1.2 million and $2.8 million as of June 30, 2026 and September 30, 2025, respectively.
Transaction Price Allocated to the Remaining Performance Obligation
Remaining performance obligation represents contracted revenue that has not yet been recognized and will be recognized as revenue in future periods as those performance obligations are satisfied. Remaining performance obligation is influenced by several factors, including the timing of renewals, the timing of software license deliveries, average contract terms and foreign currency exchange rates. Remaining performance obligations denominated in foreign currencies are revalued each period based on the period end exchange rates. Remaining performance obligation is subject to future economic risks, including bankruptcies, regulatory changes and other market factors. The majority of the non-current remaining performance obligation is expected to be recognized in the next 13-36 months.
Remaining performance obligation consisted of the following as of June 30, 2026 (amounts in thousands):
June 30, 2026
Current$74,387
Non-current28,064
Total$102,451
Contract Origination Costs
Contract origination costs included in other current and non-current assets on the condensed consolidated balance sheets totaled $18.6 million and $4.0 million as of June 30, 2026 and September 30, 2025, respectively. Contract origination costs consist primarily of: (1) sales commissions and incentive payments made to the Company’s direct and indirect sales personnel, and (2) the associated payroll taxes and fringe benefit costs associated with these payments to the Company’s employees. Contract origination costs are amortized based on the transfer of goods or services to which the asset relates, including consideration of the expected customer benefit period. Contract fulfillment costs related to goods or services transferred under a specific anticipated contract have historically been immaterial. Amortization of contract origination costs is included in selling and marketing expenses in the condensed
consolidated statement of operations and comprehensive income (loss) and totaled $0.9 million and $0.5 million during the three months ended June 30, 2026 and 2025, respectively, and $2.2 million and $1.4 million during the nine months ended June 30, 2026 and 2025, respectively. There were no impairment losses recognized during both the nine months ended June 30, 2026 and 2025 related to capitalized contract costs.