Company: CTLPP
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001628280-25-004271
Chunk: 43

Company: CANTALOUPE, INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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.5 %Gross margin, transaction24.6 %20.2 %4.4 %Subscription fees$40,882 $36,242 4,640 12.8 %Cost of subscription fees4,581 3,803 778 20.5 %Amortization(2)3,995 3,616 379 10.5 %Gross profit, subscription$32,306 $28,823 3,483 12.1 %Gross margin, subscription79.0 %79.5 %(0.5)%Equipment sales$15,681 $16,878 (1,197)(7.1)%Cost of equipment sales14,091 15,785 (1,694)(10.7)%Gross profit, equipment(1)$1,590 $1,093 497 45.5 %Gross margin, equipment10.1 %6.5 %3.7 %Total gross profit$55,576 $45,028 10,547 23.4 %Total gross margin38.4 %35.2 %3.2 %(1) The Company's internal-use software assets and developed technology assets are not associated with transaction fees and equipment revenue.(2) Amortization of internal-use software assets and developed technology assets. 

Revenues. Total revenues increased by $16.5 million for the six months ended December 31, 2024 compared to the same period in 2023. The increase in revenues is attributed to a $17.7 million increase in subscription and transaction fees, offset by a $1.2 million decrease in equipment sales.

The increase in transaction fees was primarily driven by increased average ticket items sold, increased average ticket price, increased processing volumes, and the acquisition Cheq, resulting in a 14.8% increase in total dollar volumes of transactions for the current fiscal year quarter relative to the same quarter in the prior year. There was also an increase in the total number of active devices relative to the same quarter in the prior year.

Our subscription fees have increased 12.8% for the six months ended December 31, 2024 compared to the same period in 2023 which is attributed to a continued focus of management to grow our recurring subscription services to our customer base and an increase in our active devices compared to last year as well as the acquisition of