Business
Cantaloupe, Inc. Reports Fourth Quarter and Fiscal Year 2023 Financial Results
Fourth Quarter 2023 Revenue of $64.2 million, an 11% Year over Year Increase Fiscal Year 2023 Revenue of $243.6 million, a 19% Year over Year Increase Fiscal
About this update from Cantaloupe, Inc.
[{"type":"text","content":"\nFourth Quarter 2023 Revenue of $64.2 million, an 11% Year over Year Increase\n\n\nFiscal Year 2023 Revenue of $243.6 million, a 19% Year over Year Increase\n\n\nFiscal Year 2023 U.S. GAAP Net Income of $0.01 million\n\n\nFiscal Year 2023 Adjusted EBITDA of $17.8 million, an 80% Year over Year Increase\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 fourth quarter and fiscal year ended June 30, 2023.\n\n\n“Our fourth quarter results, including a fourfold increase in adjusted EBITDA, capped off a strong year for Cantaloupe. Continued growth in all customer segments, the acquisition and integration of Three Square Market (32M), expansion of our presence in micro markets and the continued adoption of Seed software and subscription products drove exceptional fiscal year results,” said Ravi Venkatesan, chief executive officer, Cantaloupe. “At our December analyst day, we set a goal of driving sustained operating leverage. We believe that our 2023 results, as well as our fiscal year 2024 guidance, show that we are well on our way to achieving that goal.”\n\n\nFourth Quarter 2023 Key Financial Results:\n\n\n\nRevenue of $64.2 million, an increase of 11% year over year\n\n\nTransaction fees of $35.5 million, an increase of 18% year over year\n\n\n\nSubscription fees of $17.5 million, an increase of 17% year over year\n\n\n\nEquipment sales of $11.2 million, a decrease of 15% year over year\n\n\n\n\n\n\nTotal Dollar Volumes of Transactions were $703.5 million, an increase of 14% year over year\n\n\n\nTransactions totaled 278.6 million at the end of the fourth quarter of 2023, a slight increase compared to 274.6 million at the end of the fourth quarter of 2022\n\n\n\nGross margin of 40.1% compared with 29.5% in the prior year quarter\n\n\nSubscription and transaction fees margins of 44.2% compared to 39.5% in the prior year quarter\n\n\n\nEquipment sales margins of 20.8% compared to negative 4.6% in the prior year quarter\n\n\n\n\n\n\nU.S. GAAP Net income applicable to common shares of $2.8 million, or $0.04 per share, compared to Net loss applicable to common shares of $2.1 million, or $(0.03) per share, in the prior year quarter\n...