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Cantaloupe, Inc. (CTLP) is a leading provider of cloud-based technologies dedicated to the unattended retail industry. Specializing in cashless payments, dynamic route scheduling, real-time pre-kitting, merchandising, and inventory management, Cantaloupe delivers an integrated end-to-end solution accessible from any mobile device.
With over 100 years of combined vending experience, Cantaloupe's expert consultation team assists vending operators in modernizing their operations, leading to increased revenue, improved route efficiencies, and streamlined back office administration. The company boasts more than 400 customers and has connected over 400,000 machines through its innovative solutions, which provide operators with full control and visibility over their operations, inventory, and personnel. This proactive and competitive approach ensures that businesses can effectively manage and grow their ventures.
Cantaloupe operates within the small ticket electronic payments industry, supplying wireless, cashless, and micro-transaction services to the unattended Point of Sale (POS) market. Its product portfolio includes ePort Cashless devices, eSuds, EnergyMisers, and value-added services such as Loyalty and Prepaid programs, Intelligent Vending, and more. The company serves a diverse range of industries including car wash, transportation, laundry, vending, kiosk, amusement, and arcade.
The company's revenue is primarily generated from subscription and transaction fees, as well as the sale or lease of equipment and services to the small ticket, unattended POS market. Cantaloupe's commitment to innovation and customer satisfaction has solidified its position as a key player in the unattended retail technology landscape.
Cantaloupe (CTLP) reported strong Q2 FY2025 results with revenue increasing 12.8% year-over-year to $73.7 million. The growth was primarily driven by subscription and transaction revenue, which grew 16% YoY. Transaction fees reached $44.4 million (+17.2%), while subscription fees hit $20.7 million (+14.1%).
The company achieved net income of $5.0 million ($0.07 per diluted share), up from $3.1 million in the prior year quarter. Total transaction dollar volumes grew 15.5% to $843.1 million, with transaction volume increasing 4.6% to 299.8 million. Adjusted EBITDA improved 25.7% to $10.7 million.
Notable business highlights include the launch of AdVantage program for digital advertising and Smart Store solutions. Active customers increased 9.6% to 32,909, while active devices grew 3.5% to 1.27 million. The company reiterated its FY2025 guidance, projecting revenue between $308-322 million and net income of $22-32 million.
Cantaloupe (NASDAQ: CTLP) announces the launch of Cantaloupe Capital, a new financing platform developed in collaboration with Fundbox to provide small businesses in self-service retail with streamlined access to capital. The platform addresses significant financing challenges faced by small businesses, as highlighted by the 2024 Federal Reserve Small Business Startup Credit Survey, which shows only 43% of startup small businesses with employees and 29% of owner-operated startups received traditional funding.
The platform offers key features including a streamlined online application process, rapid funding decisions, transparent interest rates, flexible repayment terms, and comprehensive support for equipment purchases and working capital needs. This initiative aims to break down funding barriers for owner-operators, enabling them to invest in new equipment, manage seasonal fluctuations, and capitalize on growth opportunities in the self-service retail space.
Cantaloupe (Nasdaq: CTLP), a global provider of end-to-end technology solutions for self-service commerce, has announced its upcoming second quarter fiscal year 2025 financial results release and webcast. The company will issue a press release with financial results on February 6, 2025 at approximately 4:05 p.m. Eastern Time, followed by a management-hosted webcast at 5:00 p.m. Eastern Time to discuss the results.
Investors can access the live webcast through the company's Investor Relations website section. Those wishing to participate in the live call and Q&A session must register to receive dial-in information and a unique PIN. A replay of the conference call will be available afterward on the company's Investor Relations website.
Cantaloupe (NASDAQ: CTLP) has launched Engage Pulse, a new card reader designed for the arcade and amusement industry. The device features a ladder pricing interface allowing players to purchase multiple plays in a single transaction, modernizing the payment experience.
According to Cantaloupe's 2024 Micropayment Trends Report, consumers spent over $100 million at amusement machines in 2023, with 63% coming from cashless transactions. The average cashless purchase value was $6.13 compared to $0.81 for cash purchases.
Early adopters have reported significant results, with one customer seeing crane game sales increase by 85% year-over-year in two months. The Engage Pulse features a 3.5-inch color touchscreen, cashless payment acceptance, and seamless integration with Cantaloupe's Seed Live platform.
Cantaloupe (NASDAQ: CTLP) has secured a partnership with the San Jose Earthquakes to become the exclusive point-of-sale (POS) provider at PayPal Park stadium for all games and events, starting in the 2025 season. The agreement includes implementation of Cantaloupe's next-gen POS technology solutions and Suites premium management system.
The partnership aims to enhance fan experience through advanced payment technology, focusing on increasing food and beverage sales, speeding up transaction times, and driving customer engagement. The Suites platform will enable suite owners to manage pre-orders efficiently. Cantaloupe's selection was influenced by its successful track record with other MLS teams across the U.S.
Cantaloupe Inc (Nasdaq: CTLP) has launched its new Smart Store Series, featuring the Smart Store 600 and 700 models. These self-service retail solutions aim to address key challenges including labor shortages and theft while maintaining seamless consumer experience.
The Smart Stores work through a secure system where customers present payment at POS to unlock the unit, select items tracked by weighted-shelves and cameras, and complete their purchase. The technology features touchscreens, audio assistance, and integrates with Cantaloupe's platform for inventory management.
Early adopters report significant benefits, with GALLS noting improved military base retail accessibility and Barrett Vending reporting theft reduction from 12% to 0% at a car dealership installation. The solution is available in the US and Canada, with planned expansion to UK and Mexico.
Cantaloupe Inc (Nasdaq: CTLP) has been selected as the official point-of-sale (POS) partner for Christmas Around the World, a holiday festival in Northeast Ohio running from November 29 through January 4, 2025. The event, expected to draw over 100,000 attendees at Lake Erie Crushers Stadium in Avon, will utilize Cantaloupe's mobile handheld POS devices to support hundreds of vendors. The devices feature rapid transaction processing, accept all major payment types including Apple Pay and Google Pay, and come equipped with Wi-Fi, LTE connectivity, barcode reader, and printer capabilities.
Cantaloupe (Nasdaq: CTLP) has been awarded two prestigious honors by the Technology Association of Georgia (TAG): the TAG Fintech ADVANCE award and the Innovation Driven Company award. The company received the ADVANCE award at Fintech South conference on August 28, and the Innovation award at the 2024 TAG Technology Awards on November 6. These recognitions highlight Cantaloupe's significant contributions to Atlanta's fintech community and its role in advancing self-service commerce through innovative payment solutions and technology.
Cantaloupe (Nasdaq: CTLP) reported first-quarter fiscal year 2025 financial results with a 13.0% YoY revenue increase to $70.8 million, driven by 15.7% growth in subscription and transaction revenue.
Key highlights include:
- Net income of $3.3 million, up from $1.7 million YoY.
- Adjusted EBITDA of $9.0 million, a 14.5% increase.
- Transaction fees grew by 17.8% to $43.6 million.
- Subscription fees increased by 11.5% to $20.2 million.
- Equipment sales decreased by 6.7% to $7.0 million.
- Adjusted gross margin improved to 40.7%.
- Total transaction volume rose by 14.1% to $826.7 million.
The company also reiterated its fiscal year 2025 guidance, projecting revenue between $308 million and $322 million, net income between $22 million and $32 million, and adjusted EBITDA between $44 million and $52 million.
Cantaloupe (NASDAQ:CTLP), a global provider of self-service commerce technology solutions, has announced its participation in two upcoming investor conferences. At the Stephens Annual Investment Conference in Nashville on November 21, 2024, CEO Ravi Venkatesan and CFO Scott Stewart will host one-on-one and small group meetings, plus participate in a fireside chat at 1:00 PM CT. The executives will also attend the virtual Northland Growth Conference on December 12, 2024, where they will conduct one-on-one and group meetings.
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