Company: CTLPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023882
Chunk: 63

Company: CANTALOUPE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 63
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 of the allowance for credit losses for the nine months ended March 31, 2025 and 2024:

10

Nine months ended March 31,($ in thousands)20252024Balance, June 30$13,442 $10,815 Provision adjustments558 958 Write-offs(354)(60)Balance, September 3013,646 11,713 Provision adjustments1,064 1,266 Write-offs(3,559)(134)Balance, December 3111,151 12,845 Provision adjustments930 1,085 Write-offs(95)(735)Balance, March 31$11,986 $13,195 

4. FINANCE RECEIVABLES

The Company's finance receivables consist of devices under its financing program. Substantially all of the Company’s finance receivables agreements are classified as non-cancellable sixty-month sales-type leases.The Company collects lease payments from customers primarily as part of the flow of funds from our transaction processing services. Balances are considered past due if customers do not have sufficient transaction revenue to cover the monthly lease payment by the end of the monthly billing period. At March 31, 2025, the gross lease receivable by current payment performance on a contractual basis and year of origination consisted of the following:Leases by Origination($ in thousands)Up to 1 Year AgoBetween 1 and 2 Years AgoBetween 2 and 3 Years AgoBetween 3 and 4 Years AgoBetween 4 and 5 Years AgoMore than 5 Years AgoTotalCurrent$1,845 $1,665 $4,504 $2,386 $366 $54 $10,820 30 days and under32 36 107 106 40 9 330 31 - 60 days13 17 57 86 38 22 233 61 - 90 days11 13 73 32 46 21 196 Greater than 90 days7 73 676 821 161 1,459 3,197 Total finance receivables$1,908 $1,804 $5,417 $3,431 $651 $1,565 $14,776 At June 30, 2024, the gross lease receivable by current payment performance on a contractual basis and year of origination consisted of the following:Le