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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, Inc. (Nasdaq: CTLP) reported a strong second quarter for fiscal year 2022 with revenues increasing by 33% year-over-year to $51.1 million, driven by growth in subscription and transaction fees (+24%) and equipment sales (+95%). The total transaction volume reached $555.3 million, up 31% year-over-year. Despite a slight decrease in gross margin to 31%, the company showed operational improvement with a reduced net loss of $0.5 million.
Cantaloupe remains optimistic about its 2022 revenue forecast, expecting between $200 million and $210 million.
Cantaloupe, Inc. (NASDAQ: CTLP) has launched an upgraded Yoke platform, enhancing its Yoke Pay™, Yoke POS™, and Yoke Portal™ solutions. The new features include a faster customer interface, improved promotions, and a customizable loyalty program aimed at increasing customer engagement. The platform now integrates seamlessly with existing systems, offering retail operators cost-effective solutions for unattended markets, resulting in a 50% lower implementation cost compared to traditional vending. The upgraded kiosks are built on Android, featuring enhanced security and management capabilities.
Cantaloupe, Inc. (NASDAQ: CTLP) will host a webcast and conference call to discuss its financial results for Q2 FY 2022 on February 3, 2022, at 4:30 p.m. ET. A press release with the results will be issued at 4:00 p.m. ET the same day. Participants can join the call by dialing in 10 minutes prior. A replay will be available from 7:30 p.m. ET on February 3 to 7:30 p.m. ET on February 6. More details can be found on the company’s investor relations website.
Cantaloupe Inc. has announced the launch of its Cantaloupe International Partners (CIP) program, aimed at enhancing the presence of high-performing retailers outside the U.S. in the unattended retail market. The initiative responds to increased global demand for unattended solutions spurred by the pandemic, offering retailers access to Cantaloupe’s 25 years of expertise, SaaS solutions, and localized support. This program is set to streamline operations and drive revenue by meeting local regulatory standards and leveraging local payment processors.
Cantaloupe, Inc. (NASDAQ: CTLP) will participate in a fireside chat at the 24th Annual Needham Growth Conference on January 10, starting at 9:15 AM ET. CEO Sean Feeney and CTO Ravi Venkatesan will discuss the company's innovative cashless payment solutions for the self-service retail market. Investors can access the presentation via the company's investor relations webpage. Cantaloupe offers integrated technology solutions for various unattended retail sectors, enhancing operational control and consumer engagement.
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.
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