Company: CTLPP
Filing Date: 2025-09-08
Form Type: 10-K
Source: 0001628280-25-041775
Chunk: 93

Company: CANTALOUPE, INC.
Filing Date: 2025-09-08
Form: 10-K
Item: Item 7
Chunk 93
---
 Software.

Operating Expenses

Year ended June 30,ChangePercent Change($ in thousands)202520242025 v. 2024Sales and marketing$23,075 $20,310 $2,765 13.6%Technology and product development17,449 16,532 917 5.5%General and administrative44,075 41,395 2,680 6.5%Investigation, proxy solicitation and restatement expenses, net of insurance recoveries— (1,522)1,522 (100.0%)Integration, acquisition, due diligence, and license application expenses1,018 1,197 (179)(15.0%)Depreciation and amortization15,877 10,570 5,307 50.2%Total operating expenses$101,494 $88,482 $13,012 14.7%

Total operating expenses. Operating expenses increased by $13.0 million, or 14.7%, for the year ended June 30, 2025 compared to the prior fiscal year. The change was primarily attributed to an increase of $2.7 million in general and administrative expenses, a $2.8 million increase in sales and marketing costs, a $5.3 million increase in depreciation and amortization, a $1.5 million increase in investigation, proxy solicitation and restatement expenses, and a $0.9 million increase in technology and product development expenses. This increase was partially offset by a $0.2 million decrease in Integration, acquisition, due diligence, and license application expenses. See further details within individual categories below.

34

Sales and marketing. Sales and marketing expenses increased approximately $2.8 million for the year ended June 30, 2025 compared to the year ended June 30, 2024. The change was primarily due to an increased $1.4 million due to advertising and trade show expenses and higher sales and marketing employee personnel costs in the current year with a $1.1 million increase due to employee compensation and benefits. The increased personnel costs are to support our expanding business and service offerings in the United States and international markets. Sales and marketing increased by $0.3 million due to various other marketing expenses.

Technology and product development. Technology and product development expenses increased approximately $0.9 million for the year ended June 30, 2025 compared to the year ended June 30,