Business
Cantaloupe, Inc. Reports First Quarter Fiscal Year 2023 Results
First Quarter Revenue of $57.8 Million, a 26% Year over Year Increase Reiterates Fiscal Year 2023 Guidance MALVERN, Pa.--(BUSINESS WIRE)-- Cantaloupe, Inc.
About this update from Cantaloupe, Inc.
[{"type":"text","content":"\nFirst Quarter Revenue of $57.8 Million, a 26% Year over Year Increase\n\nReiterates Fiscal Year 2023 Guidance\n\n MALVERN, Pa.--(BUSINESS WIRE)--\nCantaloupe, Inc. (Nasdaq: CTLP) (“Cantaloupe” or the “Company”), a digital payments and software services company that provides end-to-end technology solutions for the unattended retail market, today reported results for the first quarter ended September 30, 2022.\n\n“Our revenue grew 26% year-over-year, including double digit growth in both transaction and subscription fees,” said Ravi Venkatesan, chief executive officer, Cantaloupe. “Gross margin and adjusted EBITDA were negatively impacted primarily due to one-time migration costs related to our transition to the AWS cloud environment, and procurement of higher priced components to fulfill customer demand. However, this positions us well for growth and profitability for the remainder of the fiscal year.”\n\nFirst Quarter 2023 Key Financial Results:\n\n\nRevenue of $57.8 million, an increase of 26% year over year. The increase was led by a sixth consecutive quarter of record transaction revenue.\n\n\nTransaction fees of $31.3 million, an increase of 18% year over year\n\n\nSubscription fees of $15.8 million, an increase of 11% year over year\n\n\nEquipment sales of $10.7 million, an increase of 108% year over year\n\n\n\n\nTotal Dollar Volumes of Transactions in the first quarter were $639.5 million, an increase of 16% year over year\n\n\nGross margin of 24.5% compared with 32.5% in the prior year quarter\n\n\nSubscription and transaction fees margins of 35.5% compared to 35.9% in the prior year quarter\n\n\nEquipment sales margins of (23.8)% compared to 5.3% in the prior year quarter\n\n\n\n\nU.S. GAAP Net loss applicable to common shares of $8.9 million, or $(0.13) per share, compared to Net loss applicable to common shares of $1.6 million, or $(0.02) per share, in the prior year period\n\n\nAdjusted EBITDA1 of $(5.4) million compared to $1.9 million in the prior year period\n\n\nFirst Quarter 2023 Business Highlights:\n\n\nActive Customers totaled 25,019 at the end of the first quarter of 2023 compared to 20,738 at the end of the first quarter of 2022, an increase of 21%.\n\n\nActive Devices totaled 1.15 million at the end of the first quarter of 2023 compared to 1.11 million at the end of the first quarter of 2022, an increase...