Welcome to our dedicated page for Cantaloupe news (Ticker: CTLP), a resource for investors and traders seeking the latest updates and insights on Cantaloupe stock.
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, Inc. (NASDAQ: CTLP) has expanded its partnership with GlobalConnect, North America's leading provider of contactless break room and vending services, to introduce the Bistro to Go! By Cantaloupe micro market kiosk program. This new program combines Cantaloupe's Seed software platform and Yoke self-checkout kiosks, providing a seamless user experience for consumers and a cost-effective solution for operators. The kiosks are designed for easy installation and operation, aiming for a quick return on investment. CEO Ravi Venkatesan emphasized the importance of integration for existing customers, ensuring a consistent experience with features like stored value cards and loyalty programs. The program aims to enhance GlobalConnect's branded solutions, benefitting U.S.-based affiliates.
Cantaloupe, Inc. (NASDAQ: CTLP) announces CEO Ravi Venkatesan has been appointed to the Board of FinTech Atlanta. This coalition aims to position Atlanta as a global leader in financial technology, promoting industry growth and innovation.
Since Venkatesan's appointment as CEO in October 2022, he has focused on enhancing Cantaloupe's presence in the fintech sector. Georgia is home to 210 fintech companies employing over 42,000 people, processing approximately $300 billion in global payments yearly. Venkatesan's experience includes leadership roles in various tech firms, making him well-suited for this position.
The appointment is effective immediately, with Venkatesan attending his first board meeting on May 19.
Cantaloupe, Inc. (NASDAQ: CTLP) has unveiled the Seed Driver mobile app, designed to enhance the efficiency of servicing vending machines and micro markets. This app is pivotal for food service operators, integrating seamlessly into the Cantaloupe Seed dashboard for real-time communication between drivers and supervisors.
The app, compatible with both Apple and Android devices, improves the user experience with features like visual planograms, electronic signature capture, and photo/video audits. Users of Seed Pro and Cashless+ can access the app for free, while Seed Live users need an upgrade.
Gaurav Singal, CTO of Cantaloupe, emphasized the app's role in supporting customer business growth by streamlining service operations, which is critical to competitiveness in the self-service commerce sector.
Cantaloupe, Inc. (NASDAQ: CTLP) is enhancing Essentially Organic's vending and micro market operations through its Seed platform. This collaboration marks a significant upgrade as Essentially Organic transitions to Cantaloupe's comprehensive technology solutions, including Seed Pro, Seed Office, Seed Markets, and Seed Delivery. The Seed platform streamlines operations by managing accounts on a single interface, providing real-time insights and reducing service routes from five to three. The onboarding process has been quick and efficient, facilitating a seamless transition for Essentially Organic, which has been a partner for over a decade.
Cantaloupe, Inc. (NASDAQ: CTLP) is enhancing accessibility in self-service technology with its The 46 kiosk, designed for individuals with mobility challenges and vision impairments. This kiosk features a 46-inch screen compliant with Americans with Disabilities Act (ADA) height standards, an adjustable height button, and integrated audio and visual aids. The focus on accessibility differentiates Cantaloupe in competitive RFPs. Customers like Patrick Martin emphasize the kiosk's usability for various age groups. Chris Ingram, an accessibility expert, highlights its ease of use, demonstrating Cantaloupe's commitment to creating inclusive self-service solutions.
Cantaloupe, Inc. (Nasdaq: CTLP) reported a strong second quarter with revenue of $61.3 million, reflecting a 20% year-over-year increase. Key figures include $32.4 million in transaction fees (up 21%), $16.5 million in subscription fees (up 15%), and equipment sales of $12.4 million (up 25%). Despite a net loss of $573,000 or $(0.01) per share, adjusted EBITDA rose to $3.9 million. The acquisition of Three Square Market was completed, enhancing the company's market presence. Looking ahead, Cantaloupe maintains its fiscal year 2023 revenue guidance of $240 million to $250 million.
Cantaloupe, Inc. (NASDAQ: CTLP) announced that Buffalo Rock Company, a leading Pepsi and Dr Pepper bottler in the U.S., has fully integrated Cantaloupe's Seed platform to enhance operational efficiency. Buffalo Rock operates over 9,000 vending machines and multiple micro markets across Alabama, Georgia, and Florida. The Seed platform allows Buffalo Rock to optimize route scheduling, reduce product returns, and improve service levels by dynamically managing inventory. Following a successful pilot in 2022, the partnership aims to further strengthen Buffalo Rock's supply chain operations, enhancing customer satisfaction and service delivery.
Cantaloupe, Inc (NASDAQ: CTLP) will host a webcast on February 7, 2023, at 5:00 p.m. Eastern Time to discuss its Q2 fiscal year 2023 financial results. The results will be revealed in a press release issued at 4:00 p.m. Eastern Time on the same day. Investors can access the live webcast through the company’s Investor Relations section. Notably, Cantaloupe specializes in digital payments and software solutions for self-service businesses, enhancing operational control and consumer engagement.
Cantaloupe, Inc. (NASDAQ: CTLP) appointed Anna Novoseletsky as Chief Legal and Compliance Officer & General Counsel, effective January 17, 2023. Novoseletsky brings extensive experience in global payments and compliance, previously serving at Discover Financial Services as VP & Associate General Counsel. Her expertise will enhance Cantaloupe's focus on international expansion and regulatory needs as the company continues to grow. With degrees from renowned law schools, she has a solid background in legal frameworks essential for the payments industry, having practiced law in various capacities across the globe.
Cantaloupe, Inc. (NASDAQ: CTLP) has been selected by Sodexo’s InReach to provide its hardware and technology platform, with plans to upgrade 18 branches, 18,800 vending machines, and 1,200 micro markets to the Seed platform. This partnership aims to enhance cashless payments and operational visibility. The Seed platform will empower InReach to achieve aggressive growth targets by improving operational efficiency and streamlining business processes across all locations.
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