Company: CTLPP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050174
Chunk: 79

Company: CANTALOUPE, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 79
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 are not associated with equipment sales.

26

Highlights for the quarter ended September 30, 2025 include: 

•Revenues of $80.9 million, an increase of 14.1% quarter over same quarter prior year. The increase was led by higher transaction fees and subscription fees revenue;

•1.28 million Active Devices compared to the same quarter last year of 1.23 million, an increase of approximately 50 thousand Active Devices, or 4.1%;

•35,837 Active Customers on our service compared to the same quarter last year of 32,338, an increase of 3,499 Active Customers, or 10.8%; and

•$947.1 million in Total Dollar Volume of Transactions for the quarter ended September 30, 2025 compared to $826.7 million for the quarter ended September 30, 2024, an increase of $120.4 million, or 14.6%. See "Revenues and Gross Margin" in Management’s Discussion and Analysis of Financial Condition and Results of Operations below for additional information.

Revenues.  Total revenues increased by $10.0 million for the three months ended September 30, 2025 compared to the same period in 2024.  The increase in revenues is attributed to a $4.5 million increase in transaction revenue, a $3.5 million increase in equipment revenue and a $2.1 million increase in subscription revenue. 

The increase in transaction fees was primarily driven by increased processing volumes and increased average ticket size, resulting in a 14.6% increase in total dollar volumes of transactions for the current fiscal year quarter relative to the same quarter in the prior year. Our subscription fees have increased 10.3% for the three months ended September 30, 2025 compared to the same period in 2024, which is attributed to a continued focus of management to grow our recurring subscription services to our customer base. 

Equipment revenue increased 49.5% to $10.5 million for the three months ended September 30, 2025, compared to $7.0 million for the same period in 2024 primarily due to our Smart Stores product, which launched in December 2024.

Costs of sales. Costs of sales increased $5.4 million for the three months ended September 30, 2025 compared to the prior year period. The increase in costs of sales was partially due to a $3.0 million