Company: CTLPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023882
Chunk: 114

Company: CANTALOUPE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 114
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 administrative expenses31,638 29,493 2,145 7.3 %Integration and acquisition expenses(293)1,078 (1,371)(127.2)%Depreciation and amortization12,405 7,976 4,429 55.5 %Total operating expenses$73,764 $64,918 $8,846 13.6 %

Total operating expenses. Operating expenses increased 13.6% for the nine months ended March 31, 2025 compared to the same period in 2024. This is driven by increases in all categories other than integration and acquisition expenses. Total operating expense also increased as a result of the acquisitions of Cheq and SB Software. See further details on individual categories below. 

Sales and marketing. Sales and marketing expenses increased approximately $2.4 million for the nine months ended March 31, 2025 compared to the same period in 2024. Sales and marketing expenses increased $1.7 million due to advertising and trade show expenses, $0.3 million increase due to travel expenses, $0.1 million related to compensation expenses and $0.3 million in various other marketing expenses.  Overall, these increases are due to investments being made to drive revenue both domestically and internationally.

Technology and product development. Technology and product development expenses increased by $1.2 million for the  nine months ended March 31, 2025, due to $0.7 million increase in subscriptions and cloud hosting fees, a $0.6 million increase in compensation and benefits and a $0.1 million increase in travel expenses, offset by a $0.2 million decrease in other technology and product development expenses.

General and administrative expenses. General and administrative expenses increased by $2.1 million for the nine months ended March 31, 2025 compared to the same period in 2024. This is due to a $1.3 million smaller release in sales and use taxes reserves compared to the same period last year, $1.0 million due to compensation and benefits and $0.1 million in other general and administrative expenses. This is offset by a $0.3 million decrease in rent expense. 

Integration and acquisition expenses. For the nine months ended March 31, 2025, the Company incurred integration and acquisition expenses associated with our acquisition of SB Software, however, these were offset by a $0.