Business
Cantaloupe, Inc. Reports First Quarter Fiscal Year 2024 Financial Results
First Quarter 2024 Revenue Increased 8% Year-Over-Year, to $62.7 million First Quarter 2024 GAAP Net income applicable to common shares of $1.7 million and
About this update from Cantaloupe, Inc.
[{"type":"text","content":"\nFirst Quarter 2024 Revenue Increased 8% Year-Over-Year, to $62.7 million\n\n\nFirst Quarter 2024 GAAP Net income applicable to common shares of $1.7 million and Adjusted EBITDA of $7.8 million\n\n\nReiterates Fiscal Year 2024 Guidance\n\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 self-service commerce, today reported results for the first quarter ended September 30, 2023.\n\n\n“Our fiscal year started off with continued expansion of operating leverage and strong profitability,” said Ravi Venkatesan, chief executive officer, Cantaloupe. “We continue to prioritize margin expansion by driving subscription revenue, optimizing COGS and disciplined management of operating expenses. In addition, we’ve made meaningful progress on our international expansion efforts, especially in Europe and Mexico with multiple customer acquisitions. I’m excited about the future of Cantaloupe as we execute on our vision to be the global technology leader that powers self-service commerce.”\n\n\nFirst Quarter 2024 Key Financial Results:\n\n\n\nRevenue of $62.7 million, an increase of 8% year over year\n\n\nTransaction fees of $37.0 million, an increase of 18% year over year\n\n\n\nSubscription fees of $18.1 million, an increase of 15% year over year\n\n\n\nEquipment sales of $7.5 million, a decrease of 30% year over year\n\n\n\n\n\n\nTotal Dollar Volumes of Transactions were $724.8 million, an increase of 13% year over year\n\n\n\nTransactions totaled 283.6 million at the end of the first quarter of 2024\n\n\n\nGross margin of 38.8% compared with 24.5% in the prior year quarter\n\n\nSubscription and transaction fees margins grew to 42.5% compared to 35.5% in the prior year quarter\n\n\n\nEquipment sales margins grew to 12.2% compared to negative 23.8% in the prior year quarter\n\n\n\n\n\n\nU.S. GAAP Net income applicable to common shares of $1.7 million, or $0.02 per share, compared to Net loss applicable to common shares of $8.9 million, or $(0.13) per share, in the prior year quarter\n\n\n\nAdjusted EBITDA[1] of $7.8 million compared to negative $5.4 million in the prior year quarter\n\n\n\n______________\n1 Adjusted earnings before income taxes, depreciation, and amortization, stock-based compen...