Cantaloupe, Inc. - CTLP STOCK NEWS

Cantaloupe, Inc. (Nasdaq: CTLP) has partnered with HIVERY to integrate AI-driven technology into its Seed platform. This collaboration aims to enhance vending machine performance by providing operators with better merchandising decisions based on consumer behavior analytics. The HIVERY Enhance™ solution will boost sales through dynamic product recommendations and predictive analytics, reducing restocking trips and improving operational efficiency. This development is expected to benefit over 20,000 Seed customers.

Cantaloupe, Inc. has appointed Jeff Dumbrell as Chief Revenue Officer, effective January 1, 2022. With over 20 years in the payments and technology sector, Dumbrell previously held key positions at VeriFone Systems where he significantly boosted revenue. His experience includes serving as Senior VP at Boost Payment Solutions and co-founding PowaPOS. CEO Sean Feeney and Chairman Douglas Bergeron are optimistic about his contributions to Cantaloupe’s growth strategy, focusing on revenue, global sales, and customer success.

Cantaloupe, Inc. (Nasdaq: CTLP) reported a strong first quarter for fiscal year 2022, with revenues reaching $45.8 million, up 24% year over year. Transaction fees surged 34.3% to $26.4 million, while equipment sales rose 36.8% to $5.2 million. Although gross margins decreased to 32.5% from 38.6%, the company narrowed its operating loss to $1.1 million compared to $3.6 million in the prior year. Cantaloupe maintains its fiscal year guidance of revenues between $200 million and $210 million and a net loss of $(7) million to $(5) million.

Cantaloupe Inc. (NASDAQ: CTLP) has announced that Food Express has implemented its Seed® Pro and Seed Office® platforms, resulting in a 97% increase in average collections per visit. This partnership aims to streamline operations and enhance inventory management across multiple branches. Key metrics post-implementation include a 30% reduction in vending service visits and a 75% increase in average fills within six weeks. Cantaloupe emphasizes that this implementation facilitates operational efficiency for high-growth retailers.

Cantaloupe, Inc. (CTLP), a leader in digital payments and software solutions for the unattended retail market, will host a conference call on November 4, 2021, at 4:30 p.m. ET to discuss its financial results for Q1 FY 2022. A press release with the financial results will be issued at 4:00 p.m. ET. Participants can join by dialing +1 (866) 393-1608. An archived replay will be available until November 7, 2021. Cantaloupe focuses on integrating payment processing with logistics and back-office management, enhancing consumer engagement and operational efficiency.

Cantaloupe, Inc (Nasdaq: CTLP) will participate in the Atlantic Coast Exposition (ACE) from October 14-16, 2021. The company’s CTO, Ravi Venkatesan, will present on October 15 about payment innovation trends in unattended retail. This panel will address the shift from cash to digital payment methods, including mobile apps and cryptocurrency. Cantaloupe is a diamond sponsor and will showcase its products at Booth #308 during the event held at Embassy Suites Kingston Plantation, Myrtle Beach, SC.

Cantaloupe Inc. (NASDAQ: CTLP) has announced that three of its executives, Elyssa Steiner, Michael Johnson, and Maxwell Elliott, have been named to Automatic Merchandiser’s inaugural 40 Under 40 award list. This award recognizes young leaders in the unattended retail industry. Steiner has a notable history in marketing; Johnson, a co-founder of Yoke Payments, has significantly impacted micro market solutions; and Elliott has been active in the vending sector. Cantaloupe's CEO, Sean Feeney, commended their achievements and leadership in driving industry innovation.