You might also like
Cantaloupe, Inc. is a global technology leader specializing in self-service commerce solutions. The company provides a comprehensive suite of solutions designed to enhance operational efficiency and consumer engagement, including micro-payment processing, self-checkout kiosks, mobile ordering, and connected point-of-sale systems. Cantaloupe sells digital payment processing services, enterprise cloud software, and equipment for cashless transactions.
- Subscription and Transaction Fees - Generates revenue from subscription fees and transaction fees through cashless devices, Seed™ software, Cantaloupe Go software, Cheq software, and API services, serving as the most significant driver of the company's revenues.
- Equipment Sales - Involves the sale of POS electronic payment devices, telemetry devices, certified payment software, and servicing of similar third-party installed POS terminals and telemetry devices.
- Lease Revenues - Includes revenues from operating leases and sales-type finance leases under the Cantaloupe One and QuickStart programs.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Ravi Venkatesan ExecutiveBoard | Chief Executive Officer (CEO) | CEO of Cantaloupe, Inc. since October 1, 2022, previously served as COO from February 2022 and as CTO starting in December 2020. | View Report → | |
Anna Novoseletsky Executive | Chief Legal and Compliance Officer, General Counsel, and Corporate Secretary | Anna Novoseletsky has been CTLP's Chief Legal and Compliance Officer, General Counsel, and Corporate Secretary since January 2023. Previously, she held leading legal roles at Discover Financial Services and Latham & Watkins, and began her career practicing law in Russia and Ukraine. | ||
Gaurav Singal Executive | Chief Technology Officer | Gaurav Singal is the Chief Technology Officer at Cantaloupe, Inc. since September 2022. He has over 20 years of experience and previously held executive roles at Georgia Lottery Corporation, XPO Logistics, and Goldman Sachs. | ||
Jared Grachek Executive | Chief Accounting Officer | Jared Grachek serves as the Chief Accounting Officer at CTLP since May 2023, where he oversees accounting and financial reporting processes. He previously worked as Controller at Lending Point from April 2021 to May 2023 and spent over 12 years at Ernst & Young, strengthening his expertise in accounting and technical areas. | ||
Jeffrey Dumbrell Executive | Chief Revenue Officer | Jeffrey Dumbrell has served as the Chief Revenue Officer at Cantaloupe (CTLP) since January 2022. He brings over 20 years of experience in the payments and technology sectors, with previous executive roles including Co-founder and CEO at PowaPOS and leadership positions at Boost Payment Solutions and VeriFone Systems, Inc.. | ||
Scott Stewart Executive | Chief Financial Officer (CFO) | Scott Stewart is the Chief Financial Officer (CFO) of Cantaloupe, Inc. since February 2022, overseeing the company’s finance organization and operations. He previously served as Chief Accounting Officer from September 2020 to January 2022. | ||
Anne M. Smalling Board | Director | President & Managing Partner, HM International, LLC; Chair of Quality Sausage Company, LLC; Chair of American Innovations; Board Member at Igasamex, S. de R.L. de C.V.; Board Member at Garrison Brothers; Board Member at Organicare; Board Member at The Savings Group | Anne M. Smalling has served as a Director at CTLP since April 2020. She oversees corporate governance by serving on the Audit and Compliance Committees and as Chair of the Nominating and Corporate Governance Committee, bringing extensive leadership experience from other organizations. | |
Douglas G. Bergeron Board | Chairman of the Board | Founder and Sole Shareholder of DGB Investments, Inc.; Senior Advisor at GTCR; Board of Overseers at Hoover Institution; Permanent Member at Council on Foreign Relations | Douglas G. Bergeron has been Chairman of the Board at CTLP since April 2020. He brings extensive experience from previous leadership roles including founding DGB Investments, Inc. and serving as a Senior Advisor at GTCR. | |
Ellen Richey Board | Director | Board Member, Chair of Risk Committee, Nominating and Corporate Governance Committee Member at Green Dot Corporation; Executive Vice President and Board Member at Green Visor Financial Technology Acquisition Corp I [document citations: [6]] | Ellen Richey has served as a Director at Cantaloupe, Inc. (CTLP) since April 2020, and she brings extensive expertise in risk management and compliance from her previous executive roles at Visa Inc. as well as board leadership roles at other organizations. | |
Ian Harris Board | Director | Chief Financial Officer, Talkspace, Inc.; Board Member, Liberated Syndication Inc. | Ian Harris served as an advisor to CTLP’s management team and Board from August 2020 until February 2022 and has been a Director at CTLP since February 2022. He is also active outside of CTLP as the Chief Financial Officer of Talkspace, Inc. since May 2024 and serves on the board of Liberated Syndication Inc.. | |
Jacob Lamm Board | Director | Founder & Independent Consultant at Enterik Advisory LLC | Jacob Lamm has been serving as a Director at CTLP since April 2020 and is the Chair of the Finance Committee as well as a member of the Nominating and Corporate Governance Committee. He brings extensive experience from previous roles, including Chief Operating Officer at InVisionApp Inc., Executive Vice President at CA Technologies, and co-founder and CTO of Professional Help Desk. | |
Lisa P. Baird Board | Director | President and CEO of NextUp | Lisa P. Baird has been a Director at CTLP since April 2020 and serves on the Compensation Committee and Nominating and Corporate Governance Committee. She currently serves as President and CEO of NextUp and has extensive leadership experience across sports, consumer goods, and non-profits. | |
Michael K. Passilla Board | Director at Cantaloupe, Inc. | CEO of Posillipo Ventures, Inc.; Member of the Board of Directors at Priority Technology Holdings, Inc.; Strategic Advisor at Optimized Payments, Inc.; Member of the Board of Directors at P97 Networks, Inc. | Michael K. Passilla has been serving as a Director at CTLP since April 2020 and is the Chair of the Compensation Committee. He brings extensive experience from roles including CEO of Posillipo Ventures, Inc., and executive positions at Chase Merchant Services and Elavon, Inc. | |
Shannon S. Warren Board | Director | Owner & Principal at SSW Consulting LLC; Member of the Board of Directors of Firstkey Homes LLC; Member of the Competitiveness Council for Cerberus Operations and Advisory Company; Advisor to Brex, Inc.; Advisor to Azimuth GRC | Shannon S. Warren is a director and Chair of the Audit Committee at CTLP since April 2020. She has extensive experience in risk management and finance advisory services, having held leadership roles at JPMorgan Chase & Co.. |
- Based on the reported $2 million weather impact on transaction revenue, can you detail the measures you are implementing to mitigate such environmental risks in future quarters and the potential impact on revenue guidance?
- Considering the noted equipment purchase pullback due to economic uncertainty and the subsequent rebound in Q4, what specific strategies are in place to sustain and accelerate equipment revenue growth amid ongoing market volatility?
- With Smart Stores being highlighted as your hottest selling product despite current supply constraints, how do you plan to scale production and manage inventory to fully meet the surging demand in the coming quarters?
- Given the challenges posed by tariff uncertainties and fluctuating interest rates that have previously dampened large equipment purchases, what concrete steps are you taking to hedge against these global economic risks moving forward?
- While international revenue is expected to represent 3%-4% of total revenue at year-end, what specific milestones and strategic initiatives should investors look for that will drive a significant expansion of international operations in FY '26 and beyond?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
SB Software Limited | 2025 | The deal was valued at approximately $11.4 million, structured with $10.0 million in cash and $1.4 million in contingent consideration (with scheduled payments in 2025, 2026, and 2027) to meet revenue targets; it enhanced Cantaloupe’s European market reach by acquiring specialized vending and coffee machine management capabilities, along with recognizing fair value adjustments in integration expenses. |
Cheq Lifestyle Technology, Inc. | 2024 | Completed for around $4.8 million (with some adjustments noted at $4.7 million) and funded entirely by cash, this acquisition strategically positions Cantaloupe for expansion into the sports, entertainment, and restaurant sectors by integrating enterprise-grade payment devices and a mobile-first ordering platform, while also including a $1.1 million cash holdback for working capital adjustments and incurring integration costs. |
Three Square Market, Inc. | 2022 | Finalized at an enterprise value of $41 million (90% cash, 10% stock with a two-year vesting schedule), the acquisition expanded Cantaloupe's micro market presence across North America and internationally by integrating self-service kiosks, smart coolers, and cloud-based software, with part of the funding coming from $25 million of debt and strong EBITDA margins supporting the strategic rationale. |
Three Square Market Limited | 2022 | Also executed for an aggregate base purchase price of roughly $41 million (90% cash and 10% stock), this transaction reinforced Cantaloupe's international expansion and micro market capabilities by integrating digital kiosk and cloud software technology, enabling revenue synergies and customer conversion, and included advisory support from Piper Sandler & Co. and King & Spalding. |
Recent press releases and 8-K filings for CTLP.
- Cantaloupe, Inc. has entered into a definitive agreement to be acquired by 365 Retail Markets, LLC in an all-cash transaction with an equity value of approximately $848 million.
- Cantaloupe shareholders will receive $11.20 per share in cash, which represents a 34% premium to the unaffected stock price on May 30, 2025.
- The transaction, unanimously approved by Cantaloupe's Board of Directors, is expected to close in the second half of 2025, subject to customary closing conditions including shareholder and regulatory approvals.
- Upon completion of the transaction, Cantaloupe will become a privately-held company, and its common stock will no longer be listed on any public stock exchange.