Cantaloupe, Inc. Reports 11.1% Revenue Growth to $75.4 Million and Significant Net Income Increase

Cantaloupe, Inc. reported significant financial growth in its latest quarterly results, with total revenues reaching $75.4 million for the three months ended March 31, 2025, marking an 11.1% increase from $67.9 million in the same period last year. The company’s net income surged to $49.2 million, compared to $4.7 million in the prior year, resulting in a basic earnings per share of $0.67, up from $0.06. This growth was driven by increases in transaction fees, subscription fees, and equipment sales, which rose by $4.0 million, $2.0 million, and $1.5 million, respectively.

In terms of operational metrics, Cantaloupe reported an increase in active devices to 1.26 million, up from 1.22 million a year earlier, and a rise in active customers to 34,115, compared to 30,670 in the previous year. The total dollar volume of transactions also increased to $852.4 million, reflecting a growth of 11.1% year-over-year. The company attributed these increases to higher average ticket prices, increased processing volumes, and the successful integration of recent acquisitions, including Cheq and SB Software.

Cantaloupe's balance sheet showed total assets of $370.5 million as of March 31, 2025, up from $335.6 million at the end of the previous fiscal year. Notably, goodwill increased to $102.8 million, reflecting the company's recent acquisitions. The company also reported a decrease in current liabilities to $81.0 million from $105.9 million, primarily due to a reduction in accounts payable and accrued expenses. The total shareholders' equity rose to $240.7 million, compared to $181.7 million a year earlier, driven by the substantial net income and stock-based compensation.

Strategically, Cantaloupe has made significant moves, including the launch of the Engage Pulse card readers aimed at the arcade and amusement industry and the establishment of Cantaloupe Capital in collaboration with Fundbox to provide small businesses with access to capital. The company also amended its credit facilities, increasing its borrowing capacity to $100 million, which will support its growth initiatives and acquisitions.

Looking ahead, Cantaloupe expressed optimism about its growth trajectory, citing a focus on expanding its customer base and enhancing its technology offerings. The company aims to leverage its recent acquisitions to penetrate new markets and improve operational efficiencies. However, it acknowledged potential risks, including economic conditions and competition, which could impact its performance.