Company: CTLPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023882
Chunk: 95

Company: CANTALOUPE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 95
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GAAP)$32,588 $24,220 8,368 34.5 %Gross margin, transaction (GAAP)24.7 %21.1 %3.6 %Gross profit, subscription (GAAP)46,138 44,455 1,683 3.8 %Amortization (1)9,352 5,157 4,195 81.3 %Adjusted Gross Profit, subscription (non-GAAP)$55,490 $49,612 5,878 11.8 %Adjusted Gross Margin, subscription (non-GAAP)89.5 %89.5 %— %Gross profit, equipment (GAAP)$2,855 $1,719 1,136 66.1 %Gross margin, equipment (GAAP)11.0 %6.7 %4.3 %Total Adjusted Gross Profit (non-GAAP)$90,933 $75,551 15,382 20.4 %Total Adjusted Gross Margin (non-GAAP)41.3 %38.6 %2.7 %(1) Amortization of internal-use software assets and developed technology assets. In March 2025, the Company recognized additional charges of $3.0 million, due to certain capitalized internal use software is no longer expected to provide future economic benefits as a result of changes in business strategy and evolving technology initiatives.

Total Adjusted Gross Margin (non-GAAP) was 41.3% for the nine months ended March 31, 2025, from 38.6% for the nine months ended March 31, 2024. The increase in Adjusted Gross Margin was driven by an increase in our transaction fee  revenue due to increased transaction volumes and increased in equipment sales.

Adjusted EBITDA (non-GAAP)

The Company defines Adjusted EBITDA (non-GAAP) as U.S. GAAP net income before (i) interest income, (ii) interest expense, (iii) income tax provision, (iv) depreciation, (v) amortization, (vi) stock-based compensation expense, and (vii) certain 

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other significant infrequent or unusual losses and gains that are not indicative of our core operations such as integration and acquisition expenses and costs as a result of auditor transitions.

We believe Adjusted EBITDA is useful for investors in