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) 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.
Cantaloupe, Inc. (NASDAQ: CTLP) has launched its Remote Price Change solution, part of the Seed™ platform, aimed at improving price management for vending operators. This innovative tool allows for remote price adjustments across multiple machines, helping businesses adapt to rising supplier costs and inflation. The capability reduces the average cost of manual price changes, previously estimated at
Cantaloupe, Inc. (NASDAQ: CTLP) is transforming the unattended retail market through its Seed platform, benefiting operators like Continental Services. Since implementing Seed in September 2020, Continental Services has experienced a 15% increase in average revenue per route. The partnership facilitates seamless business integration following acquisitions, such as Coin Op Canteen. Cantaloupe’s solutions enhance operational visibility, efficiency, and profitability. The company’s focus remains on delivering quick, flexible, and valuable insights via their integrated technology solutions.
Cantaloupe Inc. (NASDAQ:CTLP) announced its participation in several investor conferences. On May 19, 2022, it will hold 1x1s at the Barrington Research Virtual Spring Conference. On May 25, 2022, the company will engage in a fireside chat at the JP Morgan 50th Annual Global Technology, Media and Communications Conference in Boston, starting at 2:30 PM ET. Additionally, on June 1, 2022, Cantaloupe will host 1x1s at the Craig Hallum Virtual Institutional Investor Conference, followed by a fireside chat at the William Blair Annual Growth Conference in Chicago on June 9, 2022, at 11:20 AM ET.
Cantaloupe, Inc. (CTLP) reported robust fiscal results for Q3 2022, achieving an 18% revenue increase to $50.3 million, driven by a 31% rise in transaction fees. Total transaction volumes reached $562 million, up 36% year-over-year. Operating income improved to $0.9 million, compared to a $2.0 million loss last year. Net income applicable to common shares was $1.8 million, or $0.03 per share, reversing a net loss of $2.2 million. Adjusted EBITDA surged 68% to $3.7 million. The company expects FY 2022 revenue of $200-210 million, reflecting a 20-26% year-over-year increase.
Cantaloupe, Inc. (Nasdaq: CTLP) will host a webcast and conference call on May 5, 2022, at 5:00 p.m. Eastern Time, to discuss its Q3 fiscal results. A press release with the financial data will be issued around 4:00 p.m. Eastern Time on the same day. Participants can join the call by dialing +1 (866) 393-1608 or +1 (224) 357-2194 for international callers, with conference ID #5389692. The call will be available for replay from 8:00 p.m. Eastern Time on May 5 until May 8.
FAQ
What is the current stock price of Cantaloupe (CTLP)?
What is the market cap of Cantaloupe (CTLP)?
What does Cantaloupe, Inc. specialize in?
How does Cantaloupe, Inc. generate revenue?
What industries does Cantaloupe, Inc. serve?
How many customers does Cantaloupe, Inc. have?
What are some key products offered by Cantaloupe, Inc.?
What recent achievements has Cantaloupe, Inc. made?
What is the benefit of Cantaloupe, Inc.'s solutions for vending operators?
How does Cantaloupe, Inc.'s technology help in inventory management?
Can Cantaloupe, Inc.'s solutions be accessed via mobile devices?
Where can I learn more about Cantaloupe, Inc.?
