Company: CTLPP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050174
Chunk: 85

Company: CANTALOUPE, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 85
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 operations primarily through cash from operating activities, debt financings, and equity issuances. The Company's primary sources of capital available are cash and cash equivalents on hand of $55.0 million as of September 30, 2025 and the cash that we expect to be provided by operating activities by the Company.

The Company also has estimated and recorded for potential sales tax and related interest and penalty liabilities of $7.1 million in the aggregate as of September 30, 2025. The Company continues to evaluate these liabilities and the amount and timing of any such payments.

The Company believes that its current financial resources will be sufficient to fund its current twelve-month operating budget from the date of issuance of these condensed consolidated financial statements. Our primary focus as part of our core operations to increase cash flow from operating activities is to prioritize collection efforts to reduce outstanding accounts receivable, utilize existing inventory to support equipment sales over the next year, focusing on various operational efficiencies to improve overall profitability of the business and continued to grow our business both domestically and internationally.

Net cash used in operating activities

For the three months ended September 30, 2025, net cash provided by operating activities was $7.0 million which is the result of $0.8 million of cash 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