Company: CTLPP
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001628280-25-004271
Chunk: 51

Company: CANTALOUPE, INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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, amortization of our intangible assets, and provisions for expected losses for the six months ended December 31, 2024 and 2023. 

Net cash used in investing activities

Net cash used in investing activities was $17.8 million for the six months ended December 31, 2024. We invested $8.1 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 used in investing activities was $5.9 million for the six months ended December 31, 2023. Increase in cash used was $5.9 million for and a result of the investment in property and equipment.

Net cash provided by financing activities

Net cash used in financing activities was $0.9 million and $0.3 million for the six months ended December 31, 2024 and 2023, both of which are primarily driven by debt repayments on the JPMorgan Credit Facility. 

CONTRACTUAL OBLIGATIONS

During the six months ended December 31, 2024, there were no significant changes to our contractual obligations from those disclosed in the section “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report for the fiscal year ended June 30, 2024.

As described in Note 16 - Subsequent Events, in January 2025 the Company amended its debt agreement, which defers certain repayments until January 2030 in addition to increasing its borrowing capacity.

CRITICAL ACCOUNTING ESTIMATES

There have been no material changes to our critical accounting estimates from those disclosed in our Annual Report on for the fiscal year ended June 30, 2024. 

Recent Accounting Pronouncements

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See Note 2 - Summary of Significant Accounting Policies to the condensed consolidated financial statements for a description of recent accounting pronouncements.

Item 3. Quantitative and Qualitative Disclosures about Market Risk

As of December 31, 2024, we are exposed to market risk related to changes in interest rates on our outstanding borrowings described in Note 6 - Debt and Other Financing Arrangements. As of December 31, 2024, we have $37.1 million total outstanding borrowings, an increase of 100 basis points in SOFR Rate would result in a change in interest expense of $0.