Company: CTLPP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050174
Chunk: 103

Company: CANTALOUPE, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 103
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 utilized by working capital accounts and non-cash operating charges of $7.1 million, offset by our net loss of $0.9 million. The change in working capital was primarily driven by a decrease in cash utilized by accounts payable and accrued expenses of $6.4 million, offset by a $4.8 million decrease in cash from accounts receivable. Decreases in cash utilized by accounts payable and accrued expenses and as well as the reduction in collection of accounts receivable were the result of the timing of payments made to our customers for transaction processing as September 30, 2025.

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For the three months ended September 30, 2024, net cash used in operating activities was $12.0 million which is the result of $20.9 million of cash utilized by working capital accounts, offset by our net income of $3.6 million and non-cash operating charges of $5.3 million. The change in working capital was primarily driven by an increase in cash utilized by accounts payable and accrued expenses of $28.9 million, offset by a $11.0 million decrease in accounts receivable primarily due to cash collections. Increases in cash utilized by accounts payable and accrued expenses and as well as the collection of accounts receivable were the result of the timing of payments made to our customers for transaction processing as September 30, 2024.

Non-cash operating charges primarily consisted of stock-based compensation, depreciation of property and equipment, amortization of our intangible assets, deferred taxes, and provisions for expected losses for the three months ended September 30, 2025 and 2024. 

Net cash used in investing activities

Net cash used in investing activities was $3.4 million for the three months ended September 30, 2025. We invested $3.4 million in property and equipment as the Company continues to develop innovative technologies and products, and capitalize rental devices enrolled in the Company's Cantaloupe One program.

Net cash used in investing activities was $13.6 million for the three months ended September 30, 2024. We invested $3.8 million in property and equipment as the Company continued to focus on investing in innovative technologies and products, and increasing rental devices enrolled in the Company's Cantaloupe One program. Additionally, the Company invested $9.8 million through its SB Software acquisition.

Net cash provided by financing activities

Net cash provided by financing activities was $0.3 million for  the three months ended September 30,