Company: CTLPP
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001628280-25-004271
Chunk: 45

Company: CANTALOUPE, INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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 consulting fees and $0.1 million increase in sales and use taxes. This is offset by approximately $0.5 million decrease in various marketing expenses.  Overall, these increases are due to investments being made to drive revenue both domestically and internationally. 

Technology and product development. Technology and product development expenses increased by $1.8 million for the six months ended December 31, 2024. The increase in the current year was driven by increased headcount partially offset by lower expensed personnel costs as we continued to invest in internal-use software which resulted in higher capitalized costs compared to the prior year. 

General and administrative expenses. General and administrative expenses increased by $2.2 million for the six months ended December 31, 2024 compared to the same period in 2023. General and administrative expenses increased $1.0 million due to compensation expenses, a $0.7 million increase in consulting expenses, a $0.2 million increase in legal fees, a $0.2 million increase in bad debt expense and a $0.2 million increase in various general and administrative expenses. This is offset by a $0.1 million decrease in rent expense.  The increase is also partially due to the acquisitions of Cheq and SB Software. 

Integration and acquisition expenses. On September 5, 2024, the Company acquired all of the equity interests of SB Software. For the six months ended December 31, 2024, the Company incurred integration and acquisition expenses of $0.2 million primarily due to professional services from accounting and legal advisors and UK taxes. Integration and acquisition expenses for the six months ended December 31, 2023 related to the acquisition of 32M.

Depreciation and amortization. Depreciation and amortization expenses were increased $0.6 million for the six months ended December 31, 2024 compared to the same period in 2023 as a result of increased amortization of acquired assets from the Cheq and SB Software acquisitions.

Other Expense, Net

Six Months Ended December 31,Change($ in thousands)20242023AmountPercentageOther income (expense):Interest income$845 $1,010 $(165)(16.3)%Interest expense(1,984)(2,109)125 5.9 %Other (expense) income, net(12)52 (64)123.1 %Total other expense, net$(1,151)$(1,