Business
Cantaloupe, Inc. Reports Third Quarter of Fiscal Year 2023 Financial Results
Third Quarter Revenue of $60.4 Million, a 20% Year over Year Increase Third Quarter U.S. GAAP Net Income of $6.7 million Record Adjusted EBITDA of $10.1
About this update from Cantaloupe, Inc.
[{"type":"text","content":"\nThird Quarter Revenue of $60.4 Million, a 20% Year over Year Increase\n\n\nThird Quarter U.S. GAAP Net Income of $6.7 million\n\n\nRecord Adjusted EBITDA of $10.1 Million, a 176% Increase Compared to Q322\n\n\nReiterates Fiscal Year 2023 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 third quarter ended March 31, 2023.\n\n\n“We experienced strong financial results in Q3, with record revenue in transaction fees and subscription fees, which demonstrates progress on our strategic initiatives and the adoption of our new products,” said Ravi Venkatesan, chief executive officer, Cantaloupe. “We also reported a record quarter of Adjusted EBITDA, illustrating our ability to unleash operating leverage. The integration of Three Square Market (“32M”) is going very well and we are seeing an acceleration of our micro markets business as both existing and new customers are migrating their kiosks to the 32M platform.”\n\n\nThird Quarter 2023 Key Financial Results:\n\n\n\nRevenue of $60.4 million, an increase of 20% year over year.\n\n\nTransaction fees of $33.4 million, an increase of 21% year over year\n\n\n\nSubscription fees of $17.9 million, an increase of 22% year over year\n\n\n\nEquipment sales of $9.1 million, an increase of 12% year over year\n\n\n\n\n\n\nTotal Dollar Volumes of Transactions were $653.6 million, an increase of 16% year over year\n\n\n\nTransactions totaled 268 million at the end of the third quarter of 2023 compared to 259 million at the end of the third quarter of 2022, an increase of 4%\n\n\n\nGross margin of 37.9% compared with 32.2% in the prior year quarter\n\n\nSubscription and transaction fees margins of 42.3% compared to 40.0% in the prior year quarter\n\n\n\nEquipment sales margins of 13.4% compared to negative 8.0% in the prior year quarter\n\n\n\n\n\n\nU.S. GAAP Net income applicable to common shares of $6.7 million, or $0.09 per share, compared to Net income applicable to common shares of $1.8 million, or $0.03 per share, in in the prior year quarter\n\n\n\nAdjusted EBITDA[1] of $10.1 million, an increase of 176%, compared to $3.7 million in in the prior year quarter\n\n\n\nThird Quarter 2...