Cantaloupe, Inc. Files 2024 10-K

TL;DR

Cantaloupe's 2024 10-K is in: financials look solid, check the details.

AI Summary

Cantaloupe, Inc. filed its 10-K for the fiscal year ending June 30, 2024, reporting on its financial performance and business operations. The company, formerly known as USA Technologies Inc., is based in Malvern, PA. The filing details its revenue, liabilities, and other financial metrics for the period.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Cantaloupe's financial health and strategic direction for the past fiscal year, influencing investment decisions.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.

Key Numbers

• 2024-06-30 — Fiscal Year End (End date of the reporting period)
• 2023-07-01 — Fiscal Year Start (Start date of the reporting period)

Key Players & Entities

• CANTALOUPE, INC. (company) — Filer of the 10-K
• USA TECHNOLOGIES INC (company) — Former name of Cantaloupe, Inc.
• Malvern, PA (location) — Company headquarters
• 20240630 (date) — Fiscal year end date

FAQ

Filing Documents

• ctlp-20240630.htm (10-K) — 1855KB
• ctlp-20240630xex41.htm (EX-4.1) — 15KB
• ctlp-20240630xex1093.htm (EX-10.9 3) — 50KB
• ctlp-20240630xex1094.htm (EX-10.9 4) — 33KB
• ctlp-20240630xex191.htm (EX-19.1) — 158KB
• ctlp-20240630xex211.htm (EX-21.1) — 8KB
• ctlp-20240630xex231.htm (EX-23.1) — 2KB
• ctlp-20240630xex232.htm (EX-23.2) — 2KB
• ctlp-20240630xex311.htm (EX-31.1) — 9KB
• cltp-20240630xex312.htm (EX-31.2) — 9KB
• cltp-20240630xex321.htm (EX-32.1) — 4KB
• cltp-20240630xex322.htm (EX-32.2) — 4KB
• ctlp-20240630xex971.htm (EX-97.1) — 18KB
• ctlp-20240630_g1.jpg (GRAPHIC) — 98KB
• ctlp-20240630_g2.jpg (GRAPHIC) — 100KB
• ctlp-20240630_g3.jpg (GRAPHIC) — 90KB
• ctlp-20240630_g4.jpg (GRAPHIC) — 105KB
• 0001628280-24-040037.txt ( ) — 12445KB
• ctlp-20240630.xsd (EX-101.SCH) — 74KB
• ctlp-20240630_cal.xml (EX-101.CAL) — 146KB
• ctlp-20240630_def.xml (EX-101.DEF) — 304KB
• ctlp-20240630_lab.xml (EX-101.LAB) — 928KB
• ctlp-20240630_pre.xml (EX-101.PRE) — 654KB
• ctlp-20240630_htm.xml (XML) — 1814KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 28 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 37 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data. 38 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure. 79 9A.

Controls and Procedures

Controls and Procedures. 79 9B . Other Information. 80 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 81 PART III Item 10. Directors, Executive Officers and Corporate Governance. 82 11.

Executive Compensation

Executive Compensation. 82 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 82 13. Certain Relationships and Related Transactions, and Director Independence. 82 14. Principal Accounting Fees and Services. 82 PART IV Item 15. Exhibits, Financial Statement Schedules. 83 16 . Form 10-K Summary . 84 2 PART I In this Annual Report on Form 10-K, or Annual Report, and unless otherwise indicated, the terms "Cantaloupe", the "Company", "CTLP", "we", "us", "our", "our company" and "our business" refer to Cantaloupe, Inc., formerly known as USA Technologies, Inc. The following discussion should be read in conjunction with our consolidated financial statements and related notes included elsewhere in this Annual Report. Due to rounding, figures in tables may not sum exactly.

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, the anticipated financial and operating results of Cantaloupe, Inc. For this purpose, forward-looking statements are any statements contained herein that are not statements of historical fact and include, but are not limited to, those preceded by or that include the words "estimate," "could," "should," "would," "likely," "may," "will," "plan," "intend," "believes," "expects," "anticipates," "projected," or similar expressions. Those statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from those contemplated by the statements. The forward-looking information is based on various factors and was derived using numerous assumptions. Important factors that could cause the Company's actual results to differ materially from those projected include, for example: general economic, market or business conditions unrelated to our operating performance, including inflation, elevated interests rates, supply chain disruptions, financial institution disruptions, geopolitical conflicts, public health emergencies, and declines in consumer confidence and discretionary spending; our ability to compete with our competitors and increase market share; failure to comply with the financial covenants in our debt facilities; our ability to maintain compliance with rules and regulations applicable to our business operations and industry; disruptions in other card payment processors, software and manufacturing partners upon whom we rely; whether our customers continue to utilize our transaction processing and related services, as our customer agreements are generally cancellable by the customer with thirty days' notice; our ability to acquire and develop relevant technology offerings for current, n

Business

Item 1. Business. OVERVIEW Cantaloupe, Inc. (Nasdaq: CTLP) is organized under the laws of the Commonwealth of Pennsylvania. We are a global technology leader powering self-service commerce. Cantaloupe offers a comprehensive suite of solutions including micro-payment processing, self-checkout kiosks, mobile ordering, connected point-of-sale ("POS") systems, and enterprise cloud software. Handling more than a billion transactions annually, our solutions enhance operational efficiency and consumer engagement across sectors like food & beverage markets, smart automated retail, hospitality, entertainment venues, laundromats and more. Committed to innovation, we aim to drive advancements in digital payments and business optimization, serving 31,466 customers in the United States., United Kingdom., European Union countries, Australia, and Mexico. Our revenue streams consist of subscription, transaction processing and equipment sales. We derive the majority of our revenues from subscription and transaction fees resulting from transactions on, as well as connectivity and telemetry services provided by, our cashless devices, Seed software, Cantaloupe Go software, Cheq (acquired February 2024) software, and our API services used via our Seed API (formerly known as Quick Connect) product. These services include digital payment processing, loyalty programs, inventory management, route logistics optimization, warehouse and accounting management, intelligent merchandising, digital advertising, mobile ordering, and more. Devices and POS terminals operating on the Company's platform and using our services include those resulting from the sale, finance or a monthly bundled subscription (Cantaloupe ONE program) of our POS electronic payment devices and checkout kiosks, telemetry devices, certified payment software or the servicing of similar third-party installed POS terminals and telemetry devices. The majority of customers pay a monthly service fee plus a blended percentage rat

View Full Filing

View this 10-K filing on SEC EDGAR