Company: CTLPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023882
Chunk: 89

Company: CANTALOUPE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 89
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 primarily due to lower outstanding balances for our finance receivables.  Our interest expense from debt and tax liabilities decreased by $0.2 million for three months ended March 31, 2025 as compared to the same period in 2024 primarily due to the reduction in interest component of sales tax liability.  Other (expense) income, net increased by $0.2 million primarily due to foreign currency transactions.

Benefit from (provision for) income taxes

Three months ended March 31,Change($ in thousands)20252024AmountPercentageBenefit from (provision for) income taxes$41,904 $(84)$41,988 NMNM The percentage change is not meaningful due to the valuation allowance release described below.

The income tax benefit for the three 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 three months ended March 31, 2024 were the result of state income and deferred taxes related to goodwill amortization for tax purposes.

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Nine Months Ended March 31, 2025 Compared to Nine Months Ended March 31, 2024

Nine Months Ended March 31,ChangePercent Change($ in thousands)202520242025 v. 2024Transaction fees$132,022 $114,956 $17,066 14.8 %Cost of transaction fees99,434 90,736 8,698 9.6 %Gross profit, transaction(1)$32,588 $24,220 8,368 34.5 %Gross margin, transaction24.7 %21.1 %3.6 %Subscription fees$62,034 $55,415 6,619 11.9 %Cost of subscription fees6,544 5,803 741 12.8 %Amortization(2)9,352 5,157 4,195 81.3 %Gross profit, subscription$46,138 $44,455 1,683 3.8 %Gross margin, subscription74.4 %80.2 %(5.8)%Equipment sales$25,929 $25,568 361 1.4 %Cost of equipment sales23,074 23,849 (775)(3.2