Company: CTLPP
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001628280-25-004271
Chunk: 105

Company: CANTALOUPE, INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 2
Chunk 105
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 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)$(1,047)$(104)(9.9)%

Other expense, net. Other expense increased $0.1 million for the six months ended December 31, 2024 as compared to the same period in 2023. Our interest expense from debt and tax liabilities decreased $0.1 million primarily due to the reduction of the interest expense related to our outstanding debt balances. Decrease in interest income

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 is primarily due to lower outstanding balances for our finance receivables. Other income (expense), net decreased primarily due to foreign currency transaction losses.

Non-GAAP Financial Measures

We use non-GAAP financial measures for financial and operational decision-making purposes and as a means to evaluate period-to-period comparisons. We believe that these non-GAAP financial measures provide useful information about our operating results, enhance the overall understanding of past financial performance and future prospects and allow for greater transparency with respect to metrics used by our management in their financial and operational decision making. The presentation of these financial measures is not intended to be considered in isolation or as a substitute for the financial measures prepared and presented in accordance with GAAP. Management recognizes that non-GAAP