Company: CTLPP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050174
Chunk: 82

Company: CANTALOUPE, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 82
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 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 financial measures have limitations in that they do not reflect all of the items associated with our net income as determined in accordance with GAAP, and are not a substitute for or a measure of our profitability or net earnings.

Adjusted Gross Profit and Margin (non-GAAP)

We define Adjusted Gross Profit (non-GAAP) as revenue less cost of sales, exclusive of depreciation of internally-developed software and amortization of intangible assets related to technologies obtained through acquisitions.  We believe this non-GAAP measure is useful to view the resulting figures excluding the aforementioned non-cash charges because the amount of such expenses in any specific period may not directly correlate to the underlying performance of our business operations and such amounts vary substantially from company to company depending on their financing and capital structures and the method by which their assets were acquired. We define Adjusted Gross Margin as Adjusted Gross Profit divided by revenue.

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We have provided below a reconciliation of U.S. GAAP gross profit to Adjusted Gross Profit and Adjusted Gross Margin for the fiscal years ended September 30, 2025 and 2024:

3 Months Ended September 30,ChangePercent Change($ in thousands)202520242025  v. 2024Gross profit, transaction (GAAP)$11,790 $10,301 $1,489 14.5 %Gross margin, transaction (GAAP)24.5 %23.6 %0.9 %Gross profit, subscription (GAAP)17,628 16,000 1,628 10.2 %Amortization(1)2,707 1,747 960 55.0 %Adjusted Gross Profit, subscription (non-GAAP)$20,335 $17,747 2,588 14.6 %Adjusted Gross Margin, subscription (non-GAAP)91.3 %87.9 %3.4 %Gross profit, equipment (GAAP)$1,389 $803 586