Company: CTLPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023882
Chunk: 85

Company: CANTALOUPE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 85
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 $186.00 

Three Months Ended March 31, 2025 Compared to Three Months Ended March 31, 2024

Three Months Ended March 31,ChangePercent Change($ in thousands)202520242025 v. 2024Transaction fees$44,028 $40,034 $3,994 10.0 %Cost of transaction fees33,119 30,926 2,193 7.1 %Gross profit, transaction(1)$10,909 $9,108 1,801 19.8 %Gross margin, transaction 24.8 %22.8 %2.0 %Subscription fees$21,151 $19,173 1,978 10.3 %Cost of subscription fees1,963 2,000 (37)(1.9)%Amortization(2)5,357 1,541 3,816 247.6 %Gross profit, subscription fees$13,831 $15,632 (1,801)(11.5)%Gross margin, subscription65.4 %81.5 %(16.1)%Equipment sales$10,248 $8,690 1,558 17.9 %Cost of equipment sales8,984 8,064 920 11.4 %Gross profit, equipment(1)$1,264 $626 638 101.9 %Gross margin, equipment12.3 %7.2 %5.1 %Total gross profit$26,004 $25,366 638 2.5 %Total gross margin34.5 %37.4 %(2.9)%(1) The Company's internal-use software assets and developed technology assets are not associated with transaction fees and equipment revenue.(2) Amortization of internal-use software assets and developed technology assets. In March 2025, the Company recognized additional charges of $3.0 million, due to certain capitalized internal use software is no longer expected to provide future economic benefits as a result of changes in business strategy and evolving technology initiatives.

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Highlights for the quarter ended March 31, 2025 include: 

•Revenues of $75.4 million, an increase of 11.1% quarter over same quarter prior year. Transaction fees, subscription fees and equipment sales all increased this quarter;

•