Tue, Sep 10, 8:37 PM (126 days ago)
Cantaloupe, Inc. reported a 10% revenue increase to $269 million for the fiscal year ending June 30, 2024, driven by higher subscription and transaction fees. Net income rose to $12 million from $0.6 million in the previous year. The company processed $3 billion in transactions, a 15% increase year-over-year. Operating expenses grew by 9.9%, primarily in sales and marketing, reflecting investments in expanding its market presence. The acquisition of Cheq in February 2024 contributed $2.1 million in revenue, enhancing Cantaloupe’s offerings in the sports and entertainment sectors. Cantaloupe's financial condition remains strong with $58.9 million in cash and a net working capital surplus of $51.9 million. The company is focused on growth in micro markets and international expansion. Risks include reliance on key customers, economic conditions, and compliance with financial covenants. The company successfully remediated previously identified internal control weaknesses. Looking forward, Cantaloupe aims to leverage new technologies and expand its service offerings while navigating competitive pressures in the self-service commerce market.