Company: CTLPP
Filing Date: 2025-07-24
Form Type: DEFM14A
Source: 0001140361-25-027048
Chunk: 102

Company: CANTALOUPE, INC.
Filing Date: 2025-07-24
Form: DEFM14A
Chunk 102
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oupe of any business or strategic decision or action that has been or will be taken as a result of the Merger Agreement having been executed, or the effect of any business or strategic decisions or actions which would likely have been taken if the Merger Agreement had not been executed, but which were instead altered, accelerated, postponed or not taken in anticipation of the Merger. Further, the Management Projections do not take into account the effect of any possible failure of the Merger to occur. No assurances can be given that, if the Management Projections and the underlying assumptions had been prepared as of the date of this proxy statement, similar assumptions would be used. None of Cantaloupe or its affiliates, officers, directors, advisors or other representatives has made or makes any representation to any Cantaloupe shareholder or other person regarding the information included in the Management Projections or Cantaloupe’s ultimate performance compared to the information contained in the Management Projections or that forecasted results will be achieved. Cantaloupe has made no representation to 365, in the Merger Agreement or otherwise, concerning the Management Projections. The Management Projections reflect numerous estimates and assumptions with respect to industry performance, general business, economic, market and financial conditions, foreign exchange rates, changes to our business, financial condition or results of operations, and other matters. In particular, the Cantaloupe management team considered the following estimates and hypothetical assumptions with respect to the development of the Management Projections:

| • | The Management Projections assume certain revenue targets for fiscal years 2025 through 2028, with revenue growth ranging from approximately 13% to approximately 19% per year. |

| • | The Management Projections assume Adjusted EBITDA (as defined below) margin increasing annually, from approximately 16% in 2025 to approximately 25% in 2028. |

| • | The Management Projections include the impact of Cantaloupe’s estimated federal net operating losses of $162 million as of June 30, 2024. |

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| • | The Management Projections assume there is no increase to revenue attributable to any acquisitions consummated by Cantaloupe. |

For the foregoing reasons, as well as the bases and assumptions on which the Management Projections were compiled, the inclusion of specific portions of the Management Projections in this proxy statement should not be regarded as an indication that such forecasts will be an accurate prediction of future events, and they should