Cantaloupe, Inc. - CTLP STOCK NEWS

Cantaloupe, Inc. (NASDAQ: CTLP) announced a webcast to discuss its financial results for Q1 FY2023, scheduled for November 7, 2022, at 5:00 p.m. Eastern Time. The press release detailing these results will be issued at 4:00 p.m. Eastern Time on the same day. Cantaloupe provides technology solutions for the unattended retail sector, enhancing consumer engagement and sales revenue through integrated payment processing and management solutions. Access the webcast via their Investor Relations webpage.

Cantaloupe, Inc. (NASDAQ: CTLP) has postponed its Virtual Fiscal Year 2023 Annual Meeting of Shareholders from November 9, 2022, to November 30, 2022. The postponement is due to a delay in filing its Annual Report on Form 10-K for the fiscal year ending June 30, 2022, which was filed on October 19, 2022. Shareholders of record as of September 8, 2022, will have the opportunity to vote and submit questions electronically during the meeting. The proxy materials will be accessible on Cantaloupe's Investor Relations website.

Cantaloupe, Inc. (NASDAQ: CTLP) has received a notification from Nasdaq regarding non-compliance due to the failure to file its Annual Report on Form 10-K for the fiscal year ending June 30, 2022. Although this notice does not immediately affect the company's stock listing, failure to resolve the compliance issue within 60 days could result in delisting. Cantaloupe plans to file the Form 10-K within the next few weeks, which, if done within the grace period, may allow them to avoid submitting a compliance plan.

Cantaloupe, Inc. (CTLP) announced it will not file its Annual Report on Form 10-K for the fiscal year ending June 30, 2022, on time, due to ongoing audits of internal controls over financial reporting. The company expects to report three material weaknesses in its internal controls, including issues related to information technology, revenue controls, and risk assessment. Despite these challenges, Cantaloupe anticipates no material changes to previously announced financial results for 2022, and it aims to file the report within two to three weeks.

Cantaloupe, Inc. (NASDAQ: CTLP) reported record fourth quarter revenue of $58 million, an 18% year-over-year increase. For the full fiscal year, revenue grew 23% to $205 million. Transaction fees rose by 23% to $30 million, while subscription fees increased by 7%. However, the company experienced a GAAP net loss of $2.1 million in Q4 compared to a profit in the same period last year. Looking forward, Cantaloupe expects FY 2023 revenue between $225 million and $235 million.

Cantaloupe, Inc. (NASDAQ: CTLP) announced the appointment of Ravi Venkatesan as CEO, effective October 1, 2022. He succeeds Sean Feeney, who will retire as of September 30, 2022. Venkatesan previously served as COO and has a track record of launching new products and driving business strategy. Additionally, Gaurav Singal is appointed as the new CTO starting September 12, bringing experience from Georgia Lottery Corporation and XPO Logistics. The transition aims to enhance Cantaloupe's growth in the unattended retail market.

Cantaloupe, Inc. (CTLP) will hold its Fiscal Year 2023 Annual Meeting of Shareholders virtually on November 9, 2022, at 11 a.m. Eastern Time. Shareholders of record as of September 8, 2022, can participate and submit questions using their control numbers. The meeting will be accessible at www.virtualshareholdermeeting.com/CTLP2023. Proxy materials, including the 2023 Proxy Statement and 2022 Annual Report, will be available on the company's Investor Relations page at www.cantaloupe.com.

Cantaloupe, Inc. (CTLP) will host a webcast on September 8, 2022, at 5:00 p.m. ET to discuss its financial results for the fourth quarter and fiscal year 2022. A press release highlighting these results will be issued at approximately 4:00 p.m. ET the same day. The event will be accessible on the company's Investor Relations website, requiring prior registration to join the call. Cantaloupe specializes in providing innovative end-to-end technology solutions for the unattended retail market, enhancing operational efficiency and consumer engagement.

Cantaloupe, Inc. (NASDAQ: CTLP) partnered with Michigan State University for a study analyzing payment trends in unattended retail. The research, covering 160,000 devices, revealed that cashless transactions rose from 51% in January 2020 to 62% by October 2021, with contactless transactions doubling from 18% to 43%. CEO Sean Feeney noted that nearly half of all cashless transactions were contactless in the first half of 2022, predicting further growth. EMV transactions also surged from 1 million to 3 million, emphasizing the need for compliance in vending operations.