Company: CTLPP
Filing Date: 2025-09-08
Form Type: 10-K
Source: 0001628280-25-041775
Chunk: 95

Company: CANTALOUPE, INC.
Filing Date: 2025-09-08
Form: 10-K
Item: Item 7
Chunk 95
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 as a result of changes in business strategy and evolving technology initiatives. Depreciation and amortization expenses also increased due to the amortization of intangibles from the acquisitions of Cheq and SB Software.

Other (expense) income, Net 

Year ended June 30,ChangePercent Change($ in thousands)202520242025 v. 2024Other (expense) income:Interest income $1,561 $1,969 $(408)(20.7%)Interest expense(2,769)(2,934)165 (5.6%)Other income (expense), net1,059 (226)1,285 (568.6%)Total other (expense) income, net$(149)$(1,191)$1,042 (87.5%)

Other (expense) income, net

Total other expense, net for the fiscal year ended June 30, 2025 was $0.1 million, compared to an income of $1.2 million for the year ended June 30, 2024.

Interest income decreased $0.4 million primarily due to a decrease in the finance receivables balance associated with our equipment financing program. Our interest expense decreased $0.2 million primarily due to the modification of our long-term debt as described in Note 7 - Debt and Other Financing Arrangements.

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Other income (expense), net increased primarily due to realized and unrealized gains on foreign currency transactions.

Non-GAAP Financial Measures

We use non-GAAP financial measures for financial and operational decision-making purposes and as a means to evaluate period-to-period comparisons. We believe that these non-GAAP financial measures provide useful information about our operating results, enhance the overall understanding of past financial performance and future prospects and allow for greater transparency with respect to metrics used by our management in their financial and operational decision making. The presentation of these financial measures is not intended to be considered in isolation or as a substitute for the financial measures prepared and presented in accordance with GAAP. Management recognizes that non-GAAP financial measures have limitations in that they do not reflect all of the items associated with our net income as determined in accordance with GAAP, and are not a substitute for or a measure of our profitability or net earnings.

Adjusted Gross Profit and Margin

We define Adjusted Gross Profit as revenue less cost of sales, exclusive of depreciation of internally-developed software and amortization of intangible assets related to technologies obtained through acquisitions. We believe this non-GAAP measure is useful to view the