Company: CTLPP
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001628280-25-004271
Chunk: 69

Company: CANTALOUPE, INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 8
Chunk 69
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, 2024 and 2023 was $0.7 million and $0.6 million, respectively. The total expense recognized for restricted stock awards for both the six months ended December 31, 2024 and 2023 was $1.1 million. 

The Company has awarded performance stock awards to certain executives which vest each year over a three year period. These stock awards are also subject to the achievement of performance goals established by the Company's Board of Directors each fiscal year. During the three and six months ended December 31, 2024, total expense recognized by the Company for these awards was $0.1 million. There was no expense recognized by the Company during the three and six months ended December 31, 2023 related to performance based stock awards. 

12. INCOME TAXES

The Company computes its interim period income tax expense or benefit using a forecasted estimated annual effective tax rate ("EAETR") and adjusts for any discrete items arising during the interim period and any changes in the Company's projected full-year business interest expense and taxable income. For both the three and six months ended December 31, 2024, the EAETR was 5.0%, and was based primarily on minimum state tax obligations.For the three and six months ended December 31, 2024, the Company recorded an income tax provision of $0.4 million and $0.6 million, respectively. For the three and six months ended December 31, 2023, the Company recorded an income tax provision of $0.1 million and $0.2 million, respectively. The income tax provisions for both quarters primarily relate to state income and deferred taxes related to goodwill amortization for tax purposes. The provision was based upon actual income before income taxes for the six months ended December 31, 2024, as this provided a more reliable estimate of the income tax provision than an estimated annual effective income tax rate. The Company had a total unrecognized income tax benefit of $0.7 million and $0.7 million as of December 31, 2024 and 2023, respectively.The Company has significant deferred tax assets, a substantial amount of which result from operating loss carryforwards. The Company routinely evaluates its ability to realize the benefits of these assets to determine whether it is more likely than not that such benefit will be realized. The Company believes that for the period ended December 31, 2024, it is more likely