Company: CTLPP
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001628280-25-004271
Chunk: 101

Company: CANTALOUPE, INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 2
Chunk 101
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 the three months ended December 31, 2024 compared to the same period in 2023. Sales and marketing expense increased due a $0.6 million increase in advertising expenses, compensation costs of approximately $0.5 million, an increase of professional services and contractors of $0.1 million, and travel and entertainment costs of approximately $0.1 million. This is offset by a decrease in various sales and marketing expense reductions of approximately $0.3 million.  Overall, these increases are due to investments being made to drive revenue both domestically and internationally. 

26

Technology and product development. Technology and product development expenses increased by $1.5 million for the three months ended December 31, 2024. The increase in the current year was driven by increased headcount partially offset by lower expensed personnel costs as we continued to invest in internal-use software which resulted in higher capitalized costs compared to the prior year. 

General and administrative expenses. General and administrative expenses increased by $0.7 million for the three months ended December 31, 2024 compared to the same period in 2023. General and administrative expenses increased due to a $1.2 million increase in compensation costs and a $0.2 million increase in sales and use taxes. This is offset by a decrease of $0.5 million in consulting fees, a $0.1 million decrease in software subscriptions, a $0.1 million decrease in legal fees compared to the same period in 2023.  The increase is also partially due to the acquisitions of Cheq and SB Software. 

Integration and acquisition expenses. On September 5, 2024, the Company acquired all of the equity interests of SB Software. For the three months ended December 31, 2024, integration and acquisition expenses were less than $0.1 million primarily due to professional services from accounting and legal advisors and UK taxes. Integration and acquisition expenses for the three months ended December 31, 2023 related to the acquisition of 32M.

Depreciation and amortization. Depreciation and amortization expenses increased $0.6 million for the three months ended December 31, 2024 compared to the same period in 2023 due to our acquisitions of Cheq and SB Software.

Other Expense, Net

Three months ended December 31,Change($ in thousands)20242023AmountPercentageOther income (expense):Interest income$398 $493