Company: CTLPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023882
Chunk: 26

Company: CANTALOUPE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 Company is required to maintain a total leverage ratio not greater than 4.00 to 1.00 for the next four fiscal quarters following the material acquisition. The Company was in compliance with its financial covenants for the 2022 Amended JPMorgan Credit Facility until the 2025 Credit Facility modification. See above for the new financial covenants.Expected MaturitiesThe expected maturities for each fiscal year associated with the Company’s outstanding debt and other financing arrangements as of March 31, 2025, were as follows:

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($ in thousands)AmountRemainder of fiscal year 2025$500 20262,000 20272,500 20283,000 20293,500 Thereafter28,000 Principal amounts payable39,500 Unamortized issuance costs(340)Total outstanding debt$39,160 

7. ACCRUED EXPENSES

Accrued expenses consisted of the following as of March 31, 2025 and June 30, 2024:As of March 31,As of June  30,($ in thousands)20252024Sales tax$7,429 $10,574 State income tax payable1,520 1,496 Accrued compensation and related sales commissions3,225 4,061 Operating lease liabilities - current1,449 1,320 Accrued professional fees2,349 4,336 Consideration withheld for acquisitions - current*355 1,370 Accrued other1,166 851 Total accrued expenses$17,493 $24,008 * See Note 9 - Acquisitions for a description of the arrangements.

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8. GOODWILL AND INTANGIBLES

Intangible asset balances and goodwill consisted of the following:As of March 31, 2025Weighted Average Remaining Useful Life (Years)($ in thousands)GrossAccumulated AmortizationNetIntangible assets:Brand and trade names$2,598 (2,150)448 1.9Developed technology22,967 (15,348)7,619 3.4Customer relationships28,245 (11,700)16,545 8.0Total intangible assets$53,810 $(29,198)$24,612 6.5Goodwill$102,800 $— $102,800 Indefinite