Payments

Cantaloupe posts strong Q3 2022 results, boosted by high transaction volume

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May 6, 2022

Cantaloupe Inc., a digital payments and software services company that provides end-to-end technology solutions for the unattended retail market, lifted its revenue and income for Q3 2022 over the prior year period, boosted by high transaction volume, according to an earnings report. Highlights include:

Revenue rose 18% from $42.7 million in Q3 2022 to $50.3 million for the quarter ending March 31, 2022.
Net income improved from a $1.85 million loss to a $2.14 million gain in the comparative quarters.
Basic and diluted EPS improved from a 3-cent loss to a 3-cent gain.
Dollar volume of transactions in the third quarter was $562 million, an increase of 36% year over year.
Transaction fees of $27.5 million marked a 31% year over year gain.
Subscription fees of $14.6 million marked a 7% year over year gain.
Equipment sales of $8.2 million marked a 1% year over year gain.
Active devices totaled 1.12 million compared to 1.08 million at the end of the third quarter of 2021, an increase of 4%.

Shares traded at $5.28 Thursday against a 52-week range of $5.08-$13.25.

The $50.3 million in quarterly revenue beat analyst expectations by $380,000, while the GAAP EPS of 3 cents beat expectation by 4 cents, according to Seeking Alpha.

"We are pleased to report another strong quarter, with 18% growth in revenue, primarily driven by a 31% increase in transaction fees, another record," Sean Feeney, CEO, said in the press release. "The industry is poised to continue to grow due to strong secular tailwinds and innovation at the forefront of operators' minds. Cantaloupe is well positioned with our portfolio of innovative products and customer support services to help operators, engage their customers, optimize their businesses and increase same store sales."

The company expects full year revenue to be between $200 million and $210 million, representing a 20% to 26% increase year over year.