Company: CTLPP
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001628280-25-004271
Chunk: 107

Company: CANTALOUPE, INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 2
Chunk 107
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ed Gross Margin (non-GAAP) was 41.7% for the three months ended December 31, 2024, from 37.2% for the three months ended December 31, 2023. The increase in Adjusted Gross Margin was primarily driven by an increase in our subscription fees revenue and transaction which was a higher percentage of our total revenue in the current quarter and is inherently a higher margin revenue stream.

Six Months Ended December 31,ChangePercent Change($ in thousands)202420232024 v. 2023Gross profit, transaction (GAAP)$21,680 $15,113 6,567 43.5 %Gross margin, transaction (GAAP)24.6 %20.2 %4.5 %Gross profit, subscription (GAAP)32,306 28,823 3,483 12.1 %Amortization (1)3,995 3,616 379 10.5 %Adjusted Gross Profit, subscription (non-GAAP)$36,301 $32,439 3,862 11.9 %Adjusted Gross Margin, subscription (non-GAAP)88.8 %89.5 %(0.7)%Gross profit, equipment (GAAP)$1,590 $1,093 497 45.5 %Gross margin, equipment (GAAP)10.1 %6.5 %3.7 %Total Adjusted Gross Profit (non-GAAP)$59,571 $48,645 10,926 22.5 %Total Adjusted Gross Margin (non-GAAP)41.2 %38.0 %3.2 %

Adjusted EBITDA (non-GAAP)

The Company defines Adjusted EBITDA (non-GAAP) as U.S. GAAP net income before (i) interest income, (ii) interest expense, (iii) income tax provision, (iv) depreciation, (v) amortization, (vi) stock-based compensation expense, and (vii) certain other significant infrequent or unusual losses and gains that are not indicative of our core operations such as integration and acquisition expenses and costs as a result of auditor transitions.

We believe Adjusted EBITDA is useful for investors in comparing our financial performance to other companies and from period to period. Adjusted EBITDA is widely used by investors and securities analysts to measure a