Company: CTLPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023882
Chunk: 97

Company: CANTALOUPE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 97
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1,412 1,137Plus: depreciation and amortization expense in operating expenses6,367 2,493 12,405 7,976 EBITDA13,823 6,991 30,997 19,588 Plus: stock-based compensation (a)629 1,004 2,459 4,047 Plus: integration and acquisition (benefits) expenses (b)(534)907 (293)1,078 Plus: auditor transition costs (c)— — 375 — Plus: remediation expenses (d)— 1,258 — 1,755 Plus: severance expenses (e) — 26 — 26 Adjustments to EBITDA95 3,195 2,541 6,906 Adjusted EBITDA$13,918 $10,186 $33,538 $26,494 

(a) We have excluded stock-based compensation, as it does not reflect our cash-based operations.(b) We have excluded benefits and expenses incurred in connection with business acquisitions as they do not represent recurring costs or charges related to our core operations.

(c) Costs incurred as a result of former auditor consent procedures. See Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure of the Company's Annual Report.

(d) Consists of one-time project expenses incurred in connection with remediation of previously identified material weaknesses in our internal control over financial reporting which were remediated during fiscal year ended June 30, 2024. See Item 9A Section e - Remediation of Prior Material Weaknesses of the Company's Annual Report.

(e) Consists of expenses incurred in connection with non-recurring severance charges related to work force reduction.

35

LIQUIDITY AND CAPITAL RESOURCES 

Sources of Funds

Historically, we have financed our operations primarily through cash from operating activities, debt financings, and equity issuances. The Company's primary sources of capital available are cash and cash equivalents on hand of $46.3 million as of March 31, 2025 and the cash that we expect to be provided by operating activities by the Company.

Uses of Cash

The Company believes that its current financial resources will be sufficient to fund its current twelve-month operating budget from the date of issuance of these condensed consolidated financial statements. Our primary focus as part of our core operations to increase cash flow from operating activities is to prioritize collection efforts to reduce