Company: CTLPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023882
Chunk: 49

Company: CANTALOUPE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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 the contingent consideration. Integration and acquisition expenses for the nine months ended March 31, 2024 related to the acquisitions of 32M and Cheq.

Depreciation and amortization. Depreciation and amortization expenses were increased $4.4 million for the nine months ended March 31, 2025 compared to the prior year period, as a result of certain capitalized internal use software which is no longer expected to provide future economic benefits as a result of changes in business strategy and evolving technology initiatives. Depreciation and amortization expenses also increased due to the amortization of intangibles from the acquisitions of Cheq and SB Software.

Other Expense, Net

Nine Months Ended March 31,Change($ in thousands)20252024AmountPercentageOther income (expense):Interest income$1,213 $1,505 $(292)(19.4)%Interest (expense) income, net on debt and tax liabilities(2,023)(1,947)(76)(3.9)%Other (expense) income, net12 (158)170 107.6 %Total other income (expense), net$(798)$(600)$(198)(33.0)%

32

Other expense, net. Other expense increased $0.2 million for the nine months ended March 31, 2025 as compared to the same period in 2024. The decrease in interest income of $0.3 million is primarily due to lower outstanding balances for our finance receivables.  Our interest expense from debt and tax liabilities decreased $0.1 million primarily due to the reduction of the interest component of our sales tax liability.  Other income (expense), net increased $0.2 million primarily due to foreign currency transactions.

Benefit from (provision for) income taxes

Nine Months Ended March 31,Change($ in thousands)20252024AmountPercentageBenefit from (provision for) income taxes$41,332 $(246)$41,578 NM

NM The percentage change is not meaningful due to the valuation allowance release described below.

The income tax benefit for the nine months ended March 31, 2025, relates to the $42.2 million valuation allowance release, offset by state income and deferred taxes related to goodwill amortization for tax purposes. The income tax expense for the nine months ended March 31, 2024 were the result of state income and deferred taxes related to goodwill amortization for tax purposes.

Non-GAAP Financial Measures