Company: CTLPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023882
Chunk: 30

Company: CANTALOUPE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 equivalents$84 Property and equipment1,136 Intangible assets1,750 Other assets486 Total identifiable assets acquired3,456 Accounts payable(691)Other liabilities(307)Total liabilities assumed(998)Total identifiable net assets2,458 Goodwill2,000 Fair value of total considerations transferred$4,458 The Company determined the fair value of the identifiable intangible assets acquired with the assistance of third-party valuation consultants. Amounts allocated to identifiable intangible assets included $1.4 million related to developed technology, $0.2 million related to customer relationships, and $0.2 million related to trade names. The fair value of the acquired developed technology was determined using a multi-period excess earnings method. The fair value of the acquired customer relationships was determined using the distributor method which estimates the value using the cash flow impact in a scenario where the customer relationships are not in place. The fair value of the acquired trade names was determined using the relief from royalty method which estimates the value using the discounted value of the royalties that a company would pay to license the trade name. The recognized intangible assets will be amortized on a straight-line basis over the estimated useful lives of the respective assets. The estimated useful lives for developed technology, customer relationships, trade names were 5, 3 and 3 years, respectively. Goodwill of $2.0 million arising from the acquisition includes the expected synergies between Cheq and the Company. Goodwill, which is not deductible for income tax purposes, was assigned to the Company’s only reporting unit.The above table represents the final allocation of the purchase price. For the quarter ended March 31, 2025, there were no measurement period adjustments other than other liabilities described above. Pro forma financial information of the acquisition and revenue and net income since acquisition are not presented due to the immaterial impact of the financial results of Cheq in the Company's Condensed Consolidated Financial Statements.

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10. REVENUES

Based on similar operational characteristics, the Company's revenues are disaggregated as follows: Three months endedMarch 31,Nine months endedMarch 31,($ in thousands)2025202420252024Transaction fees$44,028 $40,034 $132,022 $114,956 Subscription fees21,151 19,173 62,034 55,415 Subscription and transaction fees65,179 59,207 194,056 170,371 Equipment sales