Company: CTLPP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050174
Chunk: 31

Company: CANTALOUPE, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 31
---
 an established grant date under ASC 718:Three months ended September 30,2024Expected volatility (percent) 50.5%Weighted average expected life (years) 4.5Dividend yield (percent)0.0 %Risk-free interest rate (percent) 3.4%Number of options granted20,000 Weighted average exercise price$6.35 Weighted average grant date fair value$2.88 Stock-based compensation related to stock options with an established grant date for the three months ended September 30, 2025 and 2024 was $0.2 million and $0.5 million, respectively.

19

Restricted Stock Awards

The Company grants service based restricted stock awards to employees.  The Company determines expense related to restricted stock awards using the closing stock price on the grant date and these awards are expensed under the accelerated attribution method over the vesting period which is typically a three-year service period. 

12. INCOME TAXES

The Company computes its interim period income tax expense or benefit using a forecasted estimated annual effective tax rate ("EAETR") and adjusts for any discrete items arising during the interim period and any changes in the Company's projected full-year business interest expense and taxable income. For the three months ended September 30, 2025 and 2024, the EAETR was 25.3% and 5.1%, respectively.For the three months ended September 30, 2025 and 2024, the Company recorded an income tax provision of $1.9 million and $0.2 million, respectively. The income tax provision for three months ended September 30, 2025, primarily related to non-deductible transaction costs. The income tax provision for the three months ended September 30, 2024, primarily relates to state income tax and deferred taxes related to goodwill amortization for tax purposes. The Company had a total unrecognized income tax benefit of $0.7 million and $0.7 million as of September 30, 2025 and 2024, respectively.The Company has significant deferred tax assets, a substantial amount of which result from operating loss carryforwards. The Company routinely evaluates its ability to realize the benefits of these assets to determine whether it is more likely than not that such benefit will be realized. The Company assesses the realizability of deferred tax assets by considering both positive and negative evidence including forecasts of future taxable income. For the three months