Company: CTLPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023882
Chunk: 117

Company: CANTALOUPE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 117
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6 %1.1 %Gross profit, equipment (GAAP)$1,264 $626 638 101.9 %Gross margin, equipment (GAAP)12.3 %7.2 %5.1 %Total Adjusted Gross Profit (non-GAAP)$31,361 $26,907 4,454 16.6 %Total Adjusted Gross Margin (non-GAAP)41.6 %39.6 %2.0 %(1) Amortization of internal-use software assets and developed technology assets. In March 2025, the Company recognized additional charges of $3.0 million, due to certain 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.

Total Adjusted Gross Margin (non-GAAP) was 41.6% for the three months ended March 31, 2025, from 39.6% for the three months ended March 31, 2024. The increase in Adjusted Gross Margin was driven by an increase in our subscription and transaction fee revenue due to increased transaction volumes.

Nine Months Ended March 31,ChangePercent Change($ in thousands)202520242025 v. 2024Gross profit, transaction (GAAP)$32,588 $24,220 8,368 34.5 %Gross margin, transaction (GAAP)24.7 %21.1 %3.6 %Gross profit, subscription (GAAP)46,138 44,455 1,683 3.8 %Amortization (1)9,352 5,157 4,195 81.3 %Adjusted Gross Profit, subscription (non-GAAP)$55,490 $49,612 5,878 11.8 %Adjusted Gross Margin, subscription (non-GAAP)89.5 %89.5 %— %Gross profit, equipment (GAAP)$2,855 $1,719 1,136 66.1 %Gross margin, equipment (GAAP)11.0 %6.7 %4.3 %Total Adjusted Gross Profit (non-GAAP)$90,933 $75,551 15,382 20.4 %Total Adjusted Gross Margin (non-GAAP)41.3