Company: CTLPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023882
Chunk: 74

Company: CANTALOUPE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 74
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 5, 3 and 3 years, respectively. Goodwill of $2.0 million arising from the acquisition includes the expected synergies between Cheq and the Company. Goodwill, which is not deductible for income tax purposes, was assigned to the Company’s only reporting unit.The above table represents the final allocation of the purchase price. For the quarter ended March 31, 2025, there were no measurement period adjustments other than other liabilities described above. Pro forma financial information of the acquisition and revenue and net income since acquisition are not presented due to the immaterial impact of the financial results of Cheq in the Company's Condensed Consolidated Financial Statements.

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10. REVENUES

Based on similar operational characteristics, the Company's revenues are disaggregated as follows: Three months endedMarch 31,Nine months endedMarch 31,($ in thousands)2025202420252024Transaction fees$44,028 $40,034 $132,022 $114,956 Subscription fees21,151 19,173 62,034 55,415 Subscription and transaction fees65,179 59,207 194,056 170,371 Equipment sales10,248 8,690 25,929 25,568 Total revenues$75,427 $67,897 $219,985 $195,939 A portion of the Company’s revenues relate to rental lease arrangements. The Company leases equipment to customers under the Cantaloupe One program which is accounted for as operating leases in accordance with ASC 842. Lease revenue is recognized on a straight-line basis over the term of the lease and is included in Subscription and transaction fees in the Consolidated Statement of Operations and Subscription fees in the table above. As described in Note 4 - Finance Receivables, the Company leases equipment under sales-type finance leases in accordance with ASC 842.The Company's revenues earned under ASC Topic 842 are as follows:Three months endedMarch 31,Nine months endedMarch 31,($ in thousands)2025202420252024Operating leases$2,262 $2,056 $6,769 $6,081 Sales-type leases237 884 1,172 1,995 Total lease revenues$2,499 $2,940 $7,941 $8,076 Operating leases are included in Subscription and transaction fees in the Consolidated Statement of Operations and Subscription fees in the disaggregated