Company: CTLPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023882
Chunk: 91

Company: CANTALOUPE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 91
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 cost of equipment of $0.8 million.

Amortization. Amortization of internal-use software assets and developed technology assets increased $4.2 million for the nine months ended March 31, 2025 compared to the prior year period, primarily as a result of certain capitalized internal use software which is no longer expected to provide future economic benefits as a result of changes in business strategy and evolving technology initiatives and amortization of intangibles from the acquisitions of Cheq and SB Software.

31

Gross margin. Total U.S. GAAP gross margin increased to 37.1% for the nine months ended March 31, 2025 from 35.9% for the nine months ended March 31, 2024. The increase was primarily a result of an increased transaction and equipment margins.

Operating Expenses

Nine Months Ended March 31,ChangeCategory ($ in thousands)20252024AmountPercentageSales and marketing$16,663 $14,256 $2,407 16.9 %Technology and product development13,351 12,115 1,236 10.2 %General and administrative expenses31,638 29,493 2,145 7.3 %Integration and acquisition expenses(293)1,078 (1,371)(127.2)%Depreciation and amortization12,405 7,976 4,429 55.5 %Total operating expenses$73,764 $64,918 $8,846 13.6 %

Total operating expenses. Operating expenses increased 13.6% for the nine months ended March 31, 2025 compared to the same period in 2024. This is driven by increases in all categories other than integration and acquisition expenses. Total operating expense also increased as a result of the acquisitions of Cheq and SB Software. See further details on individual categories below. 

Sales and marketing. Sales and marketing expenses increased approximately $2.4 million for the nine months ended March 31, 2025 compared to the same period in 2024. Sales and marketing expenses increased $1.7 million due to advertising and trade show expenses, $0.3 million increase due to travel expenses, $0.1 million related to compensation expenses and $0.3 million in various other marketing expenses.  Overall, these increases are due to investments being made to drive revenue both domestically and internationally.

Technology and