Company: CTLPP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050174
Chunk: 32

Company: CANTALOUPE, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 ended September 30, 2025, the Company concluded that it is more likely than not a portion of its deferred tax assets, primarily related to federal and state net operating loss carryforwards, will be realized, consistent with our conclusion for the fiscal year ended June 30, 2025. These U. S. federal and state deferred tax assets were created primarily as a result of net operating loss carryforwards from historical business operations. The Company maintains its valuation allowance associated with the Pennsylvania net operating loss carryforwards.On July 4, 2025, new U.S. tax legislation was signed into law (known as the “One Big Beautiful Bill Act” or “OBBBA”) which makes permanent many of the tax provisions enacted in 2017 as part of the Tax Cuts and Jobs Act that were set to expire at the end of 2025. In addition, the OBBBA makes changes to certain U.S. corporate tax provisions, but many are generally not effective until 2026. The OBBBA did not have a material impact on the results of operations.

13. EARNINGS PER SHARE CALCULATION

Basic earnings per share is computed by dividing net earnings by the weighted average number of common shares outstanding during the period. Diluted earnings per share, applicable only to years ended with reported income is computed by dividing net income by the weighted average number of common shares outstanding during the period plus the dilutive effect of outstanding stock options and restricted stock-based awards using the treasury stock method. The calculation of basic and diluted earnings per share is presented below:

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Three months ended September 30,($ in thousands, except per share data)20252024Numerator for basic and diluted (loss) income per shareNet (loss) income$(919)3,572Preferred dividends(289)(289)Net (loss) income applicable to common shareholders$(1,208)$3,283 Denominator for basic earnings per share - Weighted average shares outstanding73,540,754 73,068,856 Effect of dilutive potential common shares— 852,330 Denominator for diluted earnings per share - Adjusted weighted average shares outstanding73,540,754 73,921,186 Basic earnings per share$(0.02)$0.04 Diluted earnings per share$(0.02)$0.04 

Potentially anti-dilutive shares excluded from the calculation of diluted earnings per share were approximately 4.7 million and