Company: CTLPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023882
Chunk: 112

Company: CANTALOUPE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 112
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 31, 2025 Compared to Nine Months Ended March 31, 2024

Nine Months Ended March 31,ChangePercent Change($ in thousands)202520242025 v. 2024Transaction fees$132,022 $114,956 $17,066 14.8 %Cost of transaction fees99,434 90,736 8,698 9.6 %Gross profit, transaction(1)$32,588 $24,220 8,368 34.5 %Gross margin, transaction24.7 %21.1 %3.6 %Subscription fees$62,034 $55,415 6,619 11.9 %Cost of subscription fees6,544 5,803 741 12.8 %Amortization(2)9,352 5,157 4,195 81.3 %Gross profit, subscription$46,138 $44,455 1,683 3.8 %Gross margin, subscription74.4 %80.2 %(5.8)%Equipment sales$25,929 $25,568 361 1.4 %Cost of equipment sales23,074 23,849 (775)(3.2)%Gross profit, equipment(1)$2,855 $1,719 1,136 66.1 %Gross margin, equipment11.0 %6.7 %4.3 %Total gross profit$81,581 $70,394 11,187 15.9 %Total gross margin37.1 %35.9 %1.2 %(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. In March 2025, the Company recognized additional charges of $3.0 million, due to certain capitalized internal use software is no longer expected to provide future economic benefits as a result of changes in business strategy and evolving technology initiatives.

Revenues. Total revenues increased by $24.0 million for the nine months ended March 31, 2025 compared to the same period in 2024. The increase in revenues is attributed to a $17.1 million increase in transaction fees, a $6.6 million increase in subscription fees and