Company: CTLPP
Filing Date: 2025-09-08
Form Type: 10-K
Source: 0001628280-25-041775
Chunk: 92

Company: CANTALOUPE, INC.
Filing Date: 2025-09-08
Form: 10-K
Item: Item 7
Chunk 92
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 capitalized internal-use software is no longer expected to provide future economic benefits as a result of changes in business strategy and evolving technology initiatives.

33

Revenues

Total revenues increased by $34.0 million, or 13%, from $268.6 million for the year ended June 30, 2024, to $302.5 million for the year ended June 30, 2025. The increase was attributable to a $23.4 million increase in transaction fees, an $8.3 million increase in subscription fees, and a $2.3 million increase 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, with an approximately 13% increase in total dollar volumes for the year ended June 30, 2025 compared to the prior fiscal year. There was also an increase in the total number of active devices relative to the prior fiscal year.

Our subscription fees increased approximately $8.3 million, or 11% for the year ended June 30, 2025 which is attributed to a continued focus of management to grow our recurring subscription services to our customer base and an increase in our active devices compared to last year as well as the acquisition of SB Software and Cheq.

Equipment revenue increased by $2.3 million primarily due to the increased sales of our Smart Stores product, which we launched in December 2024.

Costs of sales 

Costs of sales increased $12.8 million for the year ended June 30, 2025 compared to the year ended June 30, 2024. The increase was attributed to a $11.3 million increase in cost of transaction fees, a $1.1 million increase in equipment costs, and a $0.4 million increase in cost of subscription fees. Cost of transaction fees increased primarily due to corresponding increases in transaction processing fee revenue and transaction processing volumes. Cost of equipment sales increased $1.1 million primarily due to increased equipment sales, in particular our new Smart Stores product.

Amortization

Amortization of internal-use software assets and developed technology assets increased $4.9 million for the year ended June 30, 2025 compared to the prior fiscal year, primarily as a result of certain capitalized internal-use software which is no longer expected to provide future economic benefits as a result of changes in business strategy and evolving technology initiatives and amortization of intangibles from the acquisitions of Cheq and SB