Cantaloupe, Inc. Reports $80.9 Million Revenue with 14.1% Growth, Faces $1.2 Million Net Loss

Cantaloupe, Inc. reported a total revenue of $80.9 million for the three months ended September 30, 2025, marking a 14.1% increase from $70.8 million in the same period last year. The growth was primarily driven by a $4.5 million rise in transaction fees, a $3.5 million increase in equipment sales, and a $2.1 million boost in subscription fees. The company experienced a net loss of $1.2 million, compared to a net income of $3.3 million in the prior year, reflecting a significant shift in profitability. The loss was attributed to increased operating expenses, particularly related to merger and acquisition activities, which surged to $7.2 million from just $197,000 a year earlier.

In terms of operational metrics, Cantaloupe reported 1.28 million active devices, a 4.1% increase from 1.23 million a year ago, and 35,837 active customers, up 10.8% from 32,338. The total dollar volume of transactions processed reached $947.1 million, a 14.6% increase from $826.7 million in the previous year. The company’s gross margin slightly decreased to 38.1% from 38.3%, primarily due to increased amortization expenses related to internal-use software and technology acquired through recent acquisitions.

Cantaloupe's balance sheet showed total assets of $389.5 million as of September 30, 2025, up from $381.9 million at the end of the previous fiscal quarter. Current liabilities increased to $90.1 million from $82.4 million, driven by higher accounts payable and accrued expenses. The company’s cash and cash equivalents rose to $55.0 million, compared to $51.1 million at the end of June 2025, indicating improved liquidity. The company also reported a total of 73.7 million shares outstanding, reflecting a slight increase from the previous quarter.

Strategically, Cantaloupe is in the process of merging with 365 Retail Markets, LLC, with the merger expected to close in the first half of 2026, pending regulatory approvals. This merger is anticipated to enhance Cantaloupe's market position and operational capabilities. The company has also been focusing on expanding its product offerings, including the launch of its Smart Stores product, which contributed to the significant increase in equipment sales.

Looking ahead, Cantaloupe aims to continue its growth trajectory by enhancing its technology solutions and expanding its customer base both domestically and internationally. The company is focused on improving operational efficiencies and cash flow management to support its ongoing business needs and strategic initiatives. Despite the recent net loss, management remains optimistic about the future, citing strong demand for its services and the potential benefits of the upcoming merger.