Business
Cantaloupe, Inc. Reports Second Quarter of Fiscal Year 2023 Financial Results
Second Quarter Revenue of $61.3 Million, a 20% Year over Year Increase Reiterates Fiscal Year 2023 Guidance MALVERN, Pa.--(BUSINESS WIRE)-- Cantaloupe, Inc.
About this update from Cantaloupe, Inc.
[{"type":"text","content":"\nSecond Quarter Revenue of $61.3 Million, a 20% 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 self-service commerce, today reported results for the second quarter ended December 31, 2022.\n\n“We saw strong financial results in Q2, with all-time high record revenue in transaction fees, subscription fees and total revenue, which demonstrates we are making progress on our strategic initiatives and working towards our vision to become the global market leader in providing technology that powers self-service commerce,” said Ravi Venkatesan, chief executive officer, Cantaloupe. “The acquisition of Three Square Market (“32M”) was also completed in the quarter. Integration is well underway and early customer interaction is validating our revenue synergy expectations.”\n\nSecond Quarter 2023 Key Financial Results:\n\n\nRevenue of $61.3 million, an increase of 20% year over year.\n\n\nTransaction fees of $32.4 million, an increase of 21% year over year\n\n\nSubscription fees of $16.5 million, an increase of 15% year over year\n\n\nEquipment sales of $12.4 million, an increase of 25% year over year\n\n\n\n\nTotal Dollar Volumes of Transactions were $649.4 million, an increase of 17% year over year\n\n\nGross margin of 30.1% compared with 31.3% in the prior year quarter\n\n\nSubscription and transaction fees margins of 38.3% compared to 39.5% in the prior year quarter\n\n\nEquipment sales margins of (2.3)% compared to (2.8)% in the prior year quarter\n\n\n\n\nU.S. GAAP Net loss applicable to common shares of $573,000, or $(0.01) per share, compared to Net loss applicable to common shares of $468,000, or $(0.01) per share, in the prior year quarter\n\n\nAdjusted EBITDA[1] of $3.9 million compared to $2.4 million in the prior year quarter\n\n\nSecond Quarter 2023 Business Highlights:\n\n\nCompleted the acquisition of Three Square Market, Inc., accelerating the Company’s micro market presence and international expansion\n\n\nActive Customers totaled 26,335 at the end of the second quarter of 2023 compared to 21,315 at the end of the second quarter of 2022, an increase of 24%.\n\n\nActive Devices totaled 1.15 million at the end ...