Company: CTLPP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050174
Chunk: 29

Company: CANTALOUPE, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 29
---
UES

Based on similar operational characteristics, the Company's revenues are disaggregated as follows: Three months endedSeptember 30,($ in thousands)20252024Transaction fees$48,060 $43,604 Subscription fees22,265 20,188 Subscription and transaction fees70,325 63,792 Equipment sales10,528 7,044 Total revenues$80,853 $70,836 A portion of the Company’s revenues relate to rental lease arrangements. The Company leases equipment to customers under the Cantaloupe One program which is accounted for as operating leases in accordance with ASC 842. Lease revenue is recognized on a straight-line basis over the term of the lease. As described in Note 4 - Finance Receivables, the Company leases equipment under sales-type finance leases in accordance with ASC 842.The Company's revenues earned under ASC Topic 842 are as follows:Three months endedSeptember 30,($ in thousands)20252024Operating leases$2,371 $2,318 Sales-type finance leases223640Total lease revenues$2,594 $2,958 Contract AssetsContract assets represent revenues earned from customers that are not yet billable to customers, generally due to the timing of when equipment and services are delivered to customers on bundled contracts, or as a result of contracts costs as described below. Contract assets that will be billed within the next 12 months are included in Prepaid expenses and other current assets and all others are included in Other assets on the Condensed Consolidated Balance Sheets. Contract assets were $4.1 million and $3.3 million, as of September 30, 2025 and June 30, 2025.Contract LiabilitiesThe change in the contract liability balances, presented as Deferred revenue on the Condensed Consolidated Balance Sheets, is primarily the result of timing difference between the Company’s satisfaction of a performance obligation and payment from the customer.The Company's contract liability (i.e., deferred revenue) balances are as follows:Three months ended September 30,($ in thousands)20252024Deferred revenue, beginning of the period$1,990 $1,726 Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period(343)(324)Additions2,328 69 Deferred revenue, end of the period$3,975 $1,471 

18

Future Performance ObligationsThe Company will recognize revenue in future periods related to remaining performance obligations for certain