Company: CTLPP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050174
Chunk: 98

Company: CANTALOUPE, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 98
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iation and amortization3,795 2,672 1,123 42.0 %Total operating expenses$31,886 $24,744 $7,142 28.9 %

Total operating expenses. Operating expenses increased 28.9% for the three months ended September 30, 2025 compared to the same period in 2024. This is primarily driven by an $7.0 million increase in Merger, acquisition, and integration expenses as well as an increase in Sales and marketing and Depreciation and amortization, offset by a decrease in General and administrative expenses. See further details on individual categories below.

Sales and marketing. Sales and marketing expenses increased approximately $1.1 million for the three months ended September 30, 2025 compared to the same period in 2024, due to a $1.0 million increase in compensation and benefits as a result of increased headcount with the launch of Vine Digital Studios and a $0.1 million increase in various sales and marketing expenses.

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Technology and product development. Technology and product development expenses increased by $0.5 million for the three months ended September 30, 2025. The increase is due to a $0.3 million increase in compensation and benefits and a $0.2 million increase in subscription and other expenses.

General and administrative expenses. General and administrative expenses decreased by $2.6 million for the three months ended September 30, 2025 compared to the same period in 2024 primarily due to a one-time decrease due to the receipt of $2.3 million in Employee Retention Tax credits and a $0.3 million decrease in professional services.

Merger, acquisition, and integration expenses. As described in Merger with 365 Retail Markets, LLC above, the Company is incurring professional service fees in preparation for the Merger. For the three months ended September 30, 2025, substantially all of the Merger, acquisition, and integration expenses relate to these professional services. Merger, acquisition, and integration expenses for the same period in 2024 relate to the acquisition of SB Software.

Depreciation and amortization. Depreciation and amortization expenses increased by $1.1 million for the three months ended September 30, 2025 compared to the same period in 2024 primarily due to $0.9 million in increased amortization of internal use software and $0.2 million in