Company: CTLPP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050174
Chunk: 104

Company: CANTALOUPE, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 104
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 2025, primarily due to the proceeds from the exercise of stock options granted to employees, offset by debt repayments on the 2025 Credit Facility. Net cash used in financing activities was  $0.5 million for the three months ended September 30, 2024, which is primarily driven by debt repayments on the 2022 Amended JPMorgan Credit Facility. 

CONTRACTUAL OBLIGATIONS

During the three months ended September 30, 2025, there were no significant changes to our contractual obligations from those disclosed in the section “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report for the fiscal year ended June 30, 2025.

CRITICAL ACCOUNTING ESTIMATES

There have been no material changes to our critical accounting estimates from those disclosed in our Annual Report on for the fiscal year ended June 30, 2025. 

Recent Accounting Pronouncements

See Note 2 - Summary of Significant Accounting Policies to the condensed consolidated financial statements for a description of recent accounting pronouncements.

Item 3. Quantitative and Qualitative Disclosures about Market Risk

As of September 30, 2025, we are exposed to market risk related to changes in interest rates on our outstanding borrowings. Our 2025 Credit Facility matures on January 31, 2030. Interest on the 2025 Credit Facility will be based, at the Company’s option, on a base rate or SOFR plus an applicable margin tied to the Company’s total leverage ratio and having ranges of between 1.75% and 2.50% for base rate loans and between 2.75% and 3.50% for SOFR loans. As of September 30, 2025, we have $38.5 million total outstanding borrowings, an increase of 100 basis points in SOFR Rate would result in a change in interest expense of $0.4 million per year. 

We are also exposed to market risk related to changes in interest rates on our cash investments and foreign currency exchange rate risks on our cash investments, inventory, accounts payable and accounts receivable. We invest our excess cash in money market funds that we believe are highly liquid and marketable in the short term. These investments earn a floating rate of interest and are not held for trading or other speculative purposes. Consequently, our exposure to market risks for interest rate 

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changes related to our money market funds is not material. We have no freest