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 partnered with Vendors Exchange to integrate their Universal Control Board into Cantaloupe's Remote Price Change (RPC) solution, enhancing the management of pricing for the unattended retail market. This feature allows operators to update prices remotely via the Seed Pro™ software, thus saving time and reducing operational costs, which currently average $100 per service visit. The RPC solution will enable dynamic pricing adjustments in response to inflationary pressures and supplier cost fluctuations.
Cantaloupe, Inc. (NASDAQ: CTLP) announced its participation in the NAMA Show 2022 from April 6-8 in Chicago, showcasing innovative products for the unattended retail market. Key offerings include the HIVERY Enhance™ Integration, ePort® Engage Series, and enhancements to Seed™ technology. CEO Sean Feeney highlighted the company's focus on meeting evolving consumer expectations and providing operators with necessary tools in a post-pandemic world. Cantaloupe's leadership will also engage in industry discussions to shape the future of the unattended retail landscape.
Cantaloupe, Inc. (NASDAQ: CTLP) has introduced the ePort Engage Combo, an advanced digital payment solution for the unattended retail market. This device combines a card reader, telemeter, and touchscreen in one unit, fitting over existing bill acceptors. It supports various payment methods, including cash, EMV chip, and mobile wallets, enabling retailers to enhance consumer interaction. Following the shipment of over 14,000 ePort Engage devices in the second fiscal quarter, the company aims to facilitate seamless payment experiences for autonomous retail.
Cantaloupe, Inc. (NASDAQ: CTLP) has launched the Cantaloupe ONE Platform™, a new platform-as-a-service model designed for autonomous retailers. This innovative model supports businesses by eliminating upfront hardware costs and reducing the risks associated with hardware obsolescence. The service features fixed monthly fees, an initial 36-month commitment, and the flexibility to bundle in additional software services. CEO Sean Feeney highlighted the platform's role in helping retailers adapt to evolving technology needs without significant capital expenditures.
Cantaloupe, Inc. (NASDAQ: CTLP) has launched the Seed Warehouse App, enhancing its digital payment and software services for the unattended retail market. This mobile and tablet-optimized platform streamlines inventory management, enabling users to scan barcodes, track purchases, and manage cross-warehouse transfers. The app, included with Seed Office at no extra cost, aims to reduce human error and waste, ultimately improving operational efficiencies across distribution centers. Early users report significant time savings and better data integrity.
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.
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