Company: CTLPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023882
Chunk: 36

Company: CANTALOUPE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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Nine months ended March 31,($ in thousands, except per share data)20252024Numerator for basic and diluted earnings per shareNet income$57,702 9,787Preferred dividends(578)(578)Net income applicable to common shareholders$57,124 $9,209 Denominator for basic earnings per share - Weighted average shares outstanding73,117,081 72,770,582 Effect of dilutive potential common shares1,402,870 1,284,238 Denominator for diluted earnings per share - Adjusted weighted average shares outstanding74,519,951 74,054,820 Basic earnings per share$0.78 $0.13 Diluted earnings per share$0.77 $0.12 

Potentially anti-dilutive shares excluded from the calculation of diluted earnings per share were approximately 0.8 million and 1.0 million for the nine months ended March 31, 2025 and 2024, respectively. 

14. COMMITMENTS AND CONTINGENCIES

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LitigationFrom time to time, we may be a party to litigation and other proceedings that arise in the ordinary course of our business. These types of matters could result in fines, penalties, compensatory or treble damages or non-monetary sanctions or relief. In accordance with the accounting guidance for contingencies, we reserve for litigation claims and assessments asserted or threatened against us when a loss is probable and the amount of the loss can be reasonably estimated. We cannot predict the outcome of legal or other proceedings with certainty. We do not expect any claims with a reasonably possible adverse outcome to have a material impact on us, and, accordingly, have not accrued for any material claims.

15. RELATED PARTY TRANSACTIONS

A member of our Board of Directors serves as a strategic advisor to a consulting firm that we utilize for payments analytics and advisory services. These services are utilized by the Company to reduce the cost of our interchange and other processing fees charged by payment processors and credit card networks. As consideration for the services, we pay the consulting firm a success fee based on the savings realized by the Company, and a recurring monthly subscription fee for the analytical services. The total expense recognized within General and administrative operating expenses for these arrangements was $0.1 million and $0.2 million for the three and nine months ended March 31, 2025 and 2024.

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Item 2. Management’s Discussion and Analysis