Cantaloupe, Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Cantaloupe, Inc. filed its Q2 FY2024 10-Q report on February 8, 2024.</b>

AI Summary

CANTALOUPE, INC. (CTLPP) filed a Quarterly Report (10-Q) with the SEC on February 8, 2024. Cantaloupe, Inc. filed its quarterly report (10-Q) on February 8, 2024, for the period ending December 31, 2023. The filing covers the second quarter of fiscal year 2024. The company was formerly known as USA TECHNOLOGIES INC. Cantaloupe, Inc. is incorporated in Pennsylvania. The company's business and mailing address is 100 Deerfield Lane, Suite 300, Malvern, PA 19355.

Why It Matters

For investors and stakeholders tracking CANTALOUPE, INC., this filing contains several important signals. This filing provides investors with the latest financial performance and operational updates for Cantaloupe, Inc. Understanding the details within this 10-Q is crucial for assessing the company's financial health and future prospects.

Risk Assessment

Risk Level: low — CANTALOUPE, INC. shows low risk based on this filing. The filing is a standard 10-Q, indicating routine financial reporting without immediate red flags.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Cantaloupe, Inc.'s performance.

Key Numbers

• 20231231 — Period End Date (Conformed Period of Report)
• 20240208 — Filing Date (Filed As Of Date)
• 20231231 — Report Date (Date As Of Change)
• 20231231 — Fiscal Year End (Fiscal Year End)

Key Players & Entities

• CANTALOUPE, INC. (company) — Filer name
• CTLPP (company) — Ticker symbol
• USA TECHNOLOGIES INC (company) — Former company name
• USA ENTERTAINMENT CENTER INC (company) — Former company name
• PA (company) — State of incorporation
• Malvern (company) — City

FAQ

Industry Context

Cantaloupe, Inc. operates in the technology sector, specifically in calculating and accounting machines, with a focus on electronic payment solutions for unattended retail.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Review management's discussion and analysis for insights into business trends and strategies.
3. Check for any new risk factors or updates to existing ones.

Year-Over-Year Comparison

This is the 10-Q filing for the period ending December 31, 2023, following previous filings for the fiscal year.

Filing Documents

• ctlp-20231231.htm (10-Q) — 1210KB
• a20231231-exx311.htm (EX-31.1) — 10KB
• a20231231-exx312.htm (EX-31.2) — 10KB
• a20231231-exx321.htm (EX-32.1) — 4KB
• a20231231-exx322.htm (EX-32.2) — 4KB
• ctlp-20231231_g1.jpg (GRAPHIC) — 98KB
• ctlp-20231231_g2.jpg (GRAPHIC) — 66KB
• ctlp-20231231_g3.jpg (GRAPHIC) — 64KB
• ctlp-20231231_g4.jpg (GRAPHIC) — 63KB
• ctlp-20231231_g5.jpg (GRAPHIC) — 34KB
• ctlp-20231231_g6.jpg (GRAPHIC) — 32KB
• ctlp-20231231_g7.jpg (GRAPHIC) — 38KB
• 0001628280-24-003906.txt (&nbsp;) — 8122KB
• ctlp-20231231.xsd (EX-101.SCH) — 52KB
• ctlp-20231231_cal.xml (EX-101.CAL) — 104KB
• ctlp-20231231_def.xml (EX-101.DEF) — 215KB
• ctlp-20231231_lab.xml (EX-101.LAB) — 666KB
• ctlp-20231231_pre.xml (EX-101.PRE) — 442KB
• ctlp-20231231_htm.xml (XML) — 1079KB

- Financial Information

Part I - Financial Information Item 1. Condensed Consolidated Financial Statements Condensed Consolidated Balance Sheets - December 31, 2023 (unaudited) and June 30, 2023 3 Condensed Consolidated Statements of Operations - Three and Six Months ended December 3 1 , 2023 and 2022 (unaudited) 4 Condensed Consolidated Statements of Comprehensive Income (Loss ) - Three and Six Months ended December 31, 2023 and 2022 (unaudited) 5 Condensed Consolidated Statements of Convertible Preferred Stock and Shareholders' Equity - Three and Six Months ended December 3 1 , 2023 and 2022 (unaudited) 6 Condensed Consolidated Statements of Cash Flows - Six Months ended December 3 1 , 2023 and 2022 (unaudited) 7 Notes to Condensed Consolidated Financial Statements (unaudited) 8 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 4.

Controls and Procedures

Controls and Procedures 37

- Other Information

Part II - Other Information Item 1.

Legal Proceedings

Legal Proceedings 39 Item 1A.

Risk Factors

Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39 Item 3. Defaults Upon Senior Securities 39 Item 4. Mine Safety Disclosures 39 Item 5. Other Information 39 Item 6. Exhibits 39

Signatures

Signatures 41 Table of Contents

Financial Information

Part I. Financial Information

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements Cantaloupe, Inc. Condensed Consolidated Balance Sheets ($ in thousands, except share data) December 31, 2023 (Unaudited) June 30, 2023 Assets Current assets: Cash and cash equivalents $ 43,478 $ 50,927 Accounts receivable, net 40,211 30,162 Finance receivables, net 6,221 6,668 Inventory, net 34,789 31,872 Prepaid expenses and other current assets 6,307 3,754 Total current assets 131,006 123,383 Non-current assets: Finance receivables due after one year, net 11,707 13,307 Property and equipment, net 27,751 25,281 Operating lease right-of-use assets 8,443 2,575 Intangibles, net 25,400 27,812 Goodwill 92,903 92,005 Other assets 5,178 5,249 Total non-current assets 171,382 166,229 Total assets $ 302,388 $ 289,612 Liabilities, convertible preferred stock, and shareholders' equity Current liabilities: Accounts payable $ 50,181 $ 52,869 Accrued expenses 26,955 26,276 Current obligations under long-term debt 1,073 882 Deferred revenue 1,788 1,666 Total current liabilities 79,997 81,693 Long-term liabilities: Deferred income taxes 362 275 Long-term debt, less current portion 37,010 37,548 Operating lease liabilities, non-current 9,203 2,504 Total long-term liabilities 46,575 40,327 Total liabilities 126,572 122,020 Commitments and contingencies (Note 15) Convertible preferred stock: Series A convertible preferred stock, 900,000 shares authorized, 385,782 issued and outstanding, with liquidation preferences of $ 22,433 and $ 22,144 at December 31, 2023 and June 30, 2023, respectively 2,720 2,720 Shareholders' equity: Common stock, no par value, 640,000,000 shares authorized, 72,739,058 and 72,664,464 shares issued and outstanding at December 31, 2023 and June 30, 2023, respectively 480,441 477,324 Accumulated deficit ( 307,321 ) ( 312,452 ) Accumulated other comprehensive loss ( 24 ) — Total shareholders' equity 173,096 164,872 Total liabilities, convertible preferred s

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View this 10-Q filing on SEC EDGAR