Company: CTLPP
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001628280-25-004271
Chunk: 62

Company: CANTALOUPE, INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 8
Chunk 62
---
31, 2024Weighted Average Remaining Useful Life (Years)($ in thousands)GrossAccumulated AmortizationNetIntangible assets:Brand and trade names$2,510 (2,075)435 1.8Developed technology22,882 (14,467)8,415 3.6Customer relationships27,186 (11,020)16,166 8.5Total intangible assets$52,578 $(27,562)$25,016 6.7Goodwill$102,292 $— $102,292 IndefiniteAs of June 30, 2024Weighted Average Useful Life (Years)($ in thousands)GrossAccumulated AmortizationNetIntangible assets:Brand and trade names$2,361 $(1,852)$509 1.6Developed technology20,062 (13,304)6,758 3.6Customer relationships27,024 (9,665)17,359 8.8Total intangible assets$49,447 $(24,821)$24,626 7.2Goodwill$94,903 $— $94,903 IndefiniteDuring the three and six months ended December 31, 2024, the Company recognized $1.5 million and $2.7 million, respectively, in amortization expense related to intangible assets. During the three and six months ended December 31, 2023, the Company recognized $1.4 million and $3.0 million, respectively, in amortization expense related to intangible assets.

The Company performs an annual goodwill impairment test on April 1 and more frequently if events and circumstances indicate that the asset might be impaired. The Company has determined that there is one single reporting unit for purposes of testing goodwill for impairment. During the six months ended December 31, 2024 and December 31, 2023, the Company did not recognize any impairment charges related to goodwill. 

9. ACQUISITIONS 

On September 5, 2024, the Company acquired all of the equity interests of SB Software Limited ("SB Software"), a United Kingdom private limited company. SB Software is in the business of vending and coffee machine management in the United Kingdom. The acquisition enhances Cantaloupe’s operational capabilities and market reach in Europe.On February 1, 2024, the Company acquired all of the equity interests of Cheq Lifestyle Technology