Company: CTLPP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050174
Chunk: 102

Company: CANTALOUPE, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 102
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 expense included in cost of sales for rentals494534Plus: depreciation and amortization expense in operating expenses3,795 2,672 EBITDA5,866 7,499 Plus: stock-based compensation (a)1,009 887 Plus: Merger, acquisition and integration expenses (b)7,197 197 Plus: employee retention tax credit (c)(2,319)— Plus: auditor transition costs (d)— 369 Adjustments to EBITDA5,887 1,453 Adjusted EBITDA$11,753 $8,952 

(a) We have excluded stock-based compensation, as it does not reflect our cash-based operations.(b) We have excluded Merger, acquisition and business integration expenses as they do not represent recurring costs or charges related to our core operations.(c) We have excluded a one-time tax credit received as it does not represent recurring benefits received by our core operations.(d) Costs incurred as a result of former auditor consent procedures. See Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure of the Company's Annual Report.

LIQUIDITY AND CAPITAL RESOURCES 

Sources and Uses of Cash

Historically, we have financed our operations primarily through cash from operating activities, debt financings, and equity issuances. The Company's primary sources of capital available are cash and cash equivalents on hand of $55.0 million as of September 30, 2025 and the cash that we expect to be provided by operating activities by the Company.

The Company also has estimated and recorded for potential sales tax and related interest and penalty liabilities of $7.1 million in the aggregate as of September 30, 2025. The Company continues to evaluate these liabilities and the amount and timing of any such payments.

The Company believes that its current financial resources will be sufficient to fund its current twelve-month operating budget from the date of issuance of these condensed consolidated financial statements. Our primary focus as part of our core operations to increase cash flow from operating activities is to prioritize collection efforts to reduce outstanding accounts receivable, utilize existing inventory to support equipment sales over the next year, focusing on various operational efficiencies to improve overall profitability of the business and continued to grow our business both domestically and internationally.

Net cash used in operating activities

For the three months ended September 30, 2025, net cash provided by operating activities was $7.0 million which is the result of $0.8 million of cash