Company: CTLPP
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001628280-25-004271
Chunk: 86

Company: CANTALOUPE, INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 8
Chunk 86
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Gross profit, transaction (GAAP)$11,380 $8,000 $3,380 42.3 %Gross margin, transaction (GAAP)25.6 %21.1 %4.5 %Gross profit, subscription (GAAP)16,306 14,471 1,835 12.7 %Amortization (1)2,248 1,673 575 34.4 %Adjusted Gross Profit, subscription (non-GAAP)$18,554 $16,144 2,410 14.9 %Adjusted Gross Margin, subscription (non-GAAP)89.7 %89.0 %0.6 %Gross profit, equipment (GAAP)$786 $172 614 357.0 %Gross margin, equipment (GAAP)9.1 %1.8 %7.3 %Total Adjusted Gross Profit (non-GAAP)$30,720 $24,316 6,404 26.3 %Total Adjusted Gross Margin (non-GAAP)41.7 %37.2 %4.5 %(1) Amortization of internal-use software assets and developed technology assets.

Total Adjusted Gross Margin (non-GAAP) was 41.7% for the three months ended December 31, 2024, from 37.2% for the three months ended December 31, 2023. The increase in Adjusted Gross Margin was primarily driven by an increase in our subscription fees revenue and transaction which was a higher percentage of our total revenue in the current quarter and is inherently a higher margin revenue stream.

Six Months Ended December 31,ChangePercent Change($ in thousands)202420232024 v. 2023Gross profit, transaction (GAAP)$21,680 $15,113 6,567 43.5 %Gross margin, transaction (GAAP)24.6 %20.2 %4.5 %Gross profit, subscription (GAAP)32,306 28,823 3,483 12.1 %Amortization (1)3,995 3,616 379 10.5 %Adjusted Gross Profit, subscription (non-GAAP)$36,301 $32,439 3,862 11.9 %Adjusted Gross Margin, subscription (non