Company: CTLPP
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001628280-25-004271
Chunk: 79

Company: CANTALOUPE, INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 8
Chunk 79
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 increase of approximately 43 thousand Active Devices, or 3.5%;

•32,909 Active Customers compared to the same quarter last year of 30,027, an increase of 2,882 Active Customers, or 9.6%; and

•$843.1 million in Total Dollar Volume of Transactions for the quarter ended December 31, 2024 compared to $730.1 million for the quarter ended December 31, 2023, an increase of $113.0 million, or 15.5%. See "Revenues and Gross Margin" in Management’s Discussion and Analysis of Financial Condition and Results of Operations below for additional information.

Revenues. Total revenues increased by $8.4 million for the three months ended December 31, 2024 compared to the same period in 2023. The increase in revenues is attributed to a $9.1 million increase in subscription and transaction fees, offset by a $0.7 million decrease in equipment sales.

The increase in transaction fees was primarily driven by increased average ticket items sold, increased average ticket price, increased processing volumes, and the acquisition Cheq, resulting in a 15.5% increase in total dollar volumes of transactions for the current fiscal year quarter relative to the same quarter in the prior year. There was also an increase in the total number of active devices relative to the same quarter in the prior year.

Our subscription fees have increased 14.1% for the three months ended December 31, 2024 compared to the same period in 2023 which is attributed to a continued focus of management to grow our recurring subscription services to our customer base, an increase in our active devices compared to last year, and the acquisition of SB Software.

Equipment revenue decreased slightly from $8.6 million for the three months ended December 31, 2024, compared to $9.3 million for the same period in 2023.

Costs of sales. Costs of sales increased $2.0 million for the three months ended December 31, 2024 compared to the prior year period. The increase in costs of sales was primarily due to a $3.3 million increase in subscription and transaction costs as a result of increased processing volumes, offset by a $1.3 million decrease in equipment costs. 

Gross margin. Total gross margin increased to 38.6% for the three months ended December 31, 2024 from 34.6% for the three