Company: CTLPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023882
Chunk: 45

Company: CANTALOUPE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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 $0.9 million primarily due to professional services from accounting and legal advisors, as well as consulting services related to the Cheq acquisition.

Depreciation and amortization. Depreciation and amortization expenses increased $3.9 million for the three months ended March 31, 2025 compared to the same period in 2024 due to certain capitalized internal use software is no longer expected to provide future economic benefits as a result of changes in business strategy and evolving technology initiatives and our acquisitions of Cheq and SB Software.

Other Expense, Net

Three months ended March 31,Change($ in thousands)20252024AmountPercentageOther income (expense):Interest income$368 $495 $(127)(25.7)%Interest (expense) income, net on debt and tax liabilities(39)162 (201)124.1 %Other (expense) income, net24 (209)233 111.5 %Total other income (expense), net$353 $448 $(95)21.2 %

Other expense, net. Other expense, net decreased $0.1 million for the three months ended March 31, 2025 as compared to the same period in 2024. The $0.1 million decrease in interest income is primarily due to lower outstanding balances for our finance receivables.  Our interest expense from debt and tax liabilities decreased by $0.2 million for three months ended March 31, 2025 as compared to the same period in 2024 primarily due to the reduction in interest component of sales tax liability.  Other (expense) income, net increased by $0.2 million primarily due to foreign currency transactions.

Benefit from (provision for) income taxes

Three months ended March 31,Change($ in thousands)20252024AmountPercentageBenefit from (provision for) income taxes$41,904 $(84)$41,988 NMNM The percentage change is not meaningful due to the valuation allowance release described below.

The income tax benefit for the three months ended March 31, 2025, relates to the $42.2 million valuation allowance release, offset by state income and deferred taxes related to goodwill amortization for tax purposes. The income tax expense for the three months ended March 31, 2024 were the result of state income and deferred taxes related to goodwill amortization for tax purposes.

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Nine Months Ended March 31, 2025 Compared to Nine