Business
Cantaloupe, Inc. Reports Third Quarter 2022 Financial Results, Which Includes Record Transaction Fee Revenue
MALVERN, Pa.--(BUSINESS WIRE)-- Cantaloupe, Inc. (Nasdaq: CTLP) (“Cantaloupe” or the “Company”), a leading company in digital payments and software services,
About this update from Cantaloupe, Inc.
[{"type":"text","content":" MALVERN, Pa.--(BUSINESS WIRE)--\nCantaloupe, Inc. (Nasdaq: CTLP) (“Cantaloupe” or the “Company”), a leading company in digital payments and software services, that provides end-to-end technology solutions for the convenience retail market, today reported results for the fiscal year 2022 third quarter ended March 31, 2022.\n\n“We are pleased to report another strong quarter, with 18% growth in revenue, primarily driven by a 31% increase in transaction fees, another record,” said Sean Feeney, chief executive officer, Cantaloupe, Inc. \"We showcased many of our products at the recent National Automatic Merchandising Association (NAMA) show, and saw tremendous interest and engagement from customers and prospects. The industry is poised to continue to grow due to strong secular tailwinds and innovation at the forefront of operator’s minds. Cantaloupe is well positioned with our portfolio of innovative products and customer support services to help operators, engage their customers, optimize their businesses and increase same store sales, now and in the future.”\n\nThird Quarter Financial Highlights:\n\n\nTotal Dollar Volumes of Transactions in the third quarter were $562 million, an increase of 36% year over year\n\n\nRevenue in the third quarter of $50.3 million, an increase of 18% year over year\n\n\nTransaction fees of $27.5 million, an increase of 31% year over year\n\n\nSubscription fees of $14.6 million, an increase of 7% year over year\n\n\nEquipment sales of $8.2 million, an increase of 1% year over year\n\n\n\n\nGross margin improvement to 32.2% compared with 29.7% in the prior year period\n\n\nSubscription and transaction fees margins of 40.0% compared to 41.0% in the prior year quarter\n\n\nEquipment sales margins of (8.0)% compared to (18.8)% in the prior year quarter\n\n\n\n\nOperating income improvement to $0.9 million for the quarter ended March 31, 2022, compared to operating loss of $2.0 million in the prior year period\n\n\nU.S. GAAP Net income applicable to common shares improved to $1.8 million, or $0.03 per share, compared to Net loss applicable to common shares of $2.2 million, or a loss of $0.03 per share, in the prior year period\n\n\nAdjusted EBITDA1 improved to $3.7 million compared to $2.2 million in the prior year period, an increase of 68%\n\n\nActive Customers totaled 22,818 at the end of the third quar...