Company: CTLPP
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001628280-25-004271
Chunk: 99

Company: CANTALOUPE, INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 2
Chunk 99
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79.8 %(1.0)%Equipment sales$8,636 $9,330 (694)(7.4)%Cost of equipment sales7,850 9,158 (1,308)(14.3)%Gross profit, equipment(1)$786 $172 614 357.0 %Gross margin, equipment9.1 %1.8 %7.3 %Total gross profit$28,472 $22,643 5,829 25.7 %Total gross margin38.6 %34.6 %4.0 %(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. 

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Highlights for the quarter ended December 31, 2024 include: 

•Revenues of $73.7 million, an increase of 12.8% quarter over same quarter prior year. The increase was led by higher transaction fees and subscription fees revenue;

•1.27 million Active Devices compared to the same quarter last year of 1.23 million, an increase of approximately 43 thousand Active Devices, or 3.5%;

•32,909 Active Customers compared to the same quarter last year of 30,027, an increase of 2,882 Active Customers, or 9.6%; and

•$843.1 million in Total Dollar Volume of Transactions for the quarter ended December 31, 2024 compared to $730.1 million for the quarter ended December 31, 2023, an increase of $113.0 million, or 15.5%. 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 $8.4 million for the three months ended December 31, 2024 compared to the same period in 2023. The increase in revenues is attributed to a $9.1 million increase in subscription and transaction fees, offset by a $0.7 million decrease in equipment sales.

The increase in transaction fees was primarily driven by increased average ticket items sold, increased average ticket price, increased processing volumes, and the acquisition Cheq, resulting in a 15.5% increase in total dollar volumes of transactions for the current fiscal year quarter relative to the same quarter in the prior year.