Company: CTLPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023882
Chunk: 75

Company: CANTALOUPE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 75
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 revenue table above. Sales-type finance leases are included in Equipment sales in the Consolidated Statement of Operations and in the disaggregated revenue table above.Contract AssetsContract assets represent revenues earned from customers that are not yet billable to customers, generally due to the timing of when equipment and services are delivered to customers on bundled contracts, or as a result of contract costs as described below. Contract assets that will be billed within the next 12 months are included in Prepaid expenses and other current assets and all others are included in Other assets on the Condensed Consolidated Balance Sheets. Contract assets were $2.2 million and $2.6 million, as of March 31, 2025 and June 30, 2024.Contract LiabilitiesThe change in the contract liability balances, presented as Deferred revenue on the Condensed Consolidated Balance Sheets, is primarily the result of timing difference between the Company’s satisfaction of a performance obligation and payment from the customer.The Company's contract liability (i.e., deferred revenue) balances are as follows:Three months endedMarch 31,($ in thousands)20252024Deferred revenue, beginning of the period$1,356 $1,788 Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period(123)(268)Additions (reversals)813 373 Deferred revenue, end of the period$2,046 $1,893 

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Nine months endedMarch 31,($ in thousands)20252024Deferred revenue, beginning of the period$1,726 $1,666 Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period(659)(475)Additions979 702 Deferred revenue, end of the period$2,046 $1,893 Lessor Operating Lease Payment ReceiptsThe Company will recognize revenue in future periods related to remaining performance obligations for certain open contracts. Generally, these contracts have terms of one year or less. The amount of revenue related to unsatisfied performance obligations in which the original duration of the contract is greater than one year are primarily associated with the Company's Cantaloupe ONE rental program which has a contractual term of 36 months. The following table reflects the estimated fees to be recognized in the future related to performance obligations that are unsatisfied as of March 31, 2025:($ in thousands)As of March 31, 2025Remainder of fiscal year 2025$1,506 20264