Gary Prestopino

Josh Nichols

Cristopher Kennedy

Aditya Dagaonkar

George Sutton

Mike Latimore

Mark Feldman

- Cantaloupe, Inc. and 365 Retail Markets, LLC received a **Second Request** from the U.S. Federal Trade Commission (FTC) on **September 17, 2025**, regarding their previously announced merger.  **[896429_0001140361-25-035319_ef20055713_8k.htm:1]** 
- This Second Request **extends the waiting period** under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) until **30 days after both companies substantially comply** with the request, unless terminated earlier by the FTC.  **[896429_0001140361-25-035319_ef20055713_8k.htm:1]** 
- The parties to the merger agreement, originally entered into on **June 15, 2025**, still **expect to complete the Merger in the first half of calendar year 2026**, assuming required HSR Act clearance and satisfaction or waiver of other conditions.  **[896429_0001140361-25-035319_ef20055713_8k.htm:1]**

Cantaloupe receives FTC Second Request for merger with 365 Retail Markets

9f6884f35d95bc5f6258a6ab83575c2ce2a4717603a1d1d38336dd612a72fe0d

Active Devices (thousands)

Active Customers (count)

Total Number of Transactions (millions)

Total Dollar Volume of Transactions (millions of dollars)

Average Revenue Per Unit (ARPU) (USD per unit)

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CTLP Q3 2025: Smart Store demand surges, supply constraints persist

01eefc5a211ffe1ae6f553410c74bec12a37819c9f9f6c87a5c28c7791c05929

1. **Weather Impact**  
   **Q:** What weather impact affected transactions?  
   **A:** Management explained that **$2 million** in transaction revenue was affected by adverse weather in January and February.  **[896429_CTLP_3427043_4]** 

2. **Smart Store Demand**  
   **Q:** What is the Smart Store demand outlook?  
   **A:** Management noted that **Smart Store** is their hottest product with a strong ramp-up in Q4, driven by heightened interest and order activity.  **[896429_CTLP_3427043_5]** 

3. **International & Cash Flow**  
   **Q:** What are international revenue and free cash flow expectations?  
   **A:** They expect international revenue to reach **3–4%** by year-end and anticipate Q4 free cash flow of roughly **$15–18 million**.  **[896429_CTLP_3427043_12]** 

4. **Form Factors Productivity**  
   **Q:** How do vending versus micro markets and Smart Stores compare?  
   **A:** Management highlighted that micro markets deliver about **10x** vending sales, while Smart Stores generate roughly double the productivity of micro markets, underpinning better margins.  **[896429_CTLP_3427043_8]** 

5. **Latin America Update**  
   **Q:** What are the updates in Latin America?  
   **A:** Management shared that there are promising developments in Latin America, though details remain premature as scaling efforts continue.  **[896429_CTLP_3427043_6]** 

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- **Strong Smart Store Demand:** Executives emphasized that the Smart Store is the hottest selling product and demand is already ramping up in Q4, indicating a robust market interest and potential for significant hardware revenue growth.  **[896429_CTLP_3427043_5]**
- **Resilient Recovery Post Headwinds:** Despite temporary revenue setbacks from weather-related disruptions and economic uncertainty causing deferrals in purchases, executives confirmed that these issues were short-lived, with a clear rebound in equipment orders in the fourth quarter.  **[896429_CTLP_3427043_4]** **[896429_CTLP_3427043_9]**
- **Promising International Growth:** Management noted exciting developments in scaling efforts in both Europe and Latin America, suggesting that, although current international revenue is modest, it is expected to grow as these markets mature further.  **[896429_CTLP_3427043_6]** **[896429_CTLP_3427043_12]**

324364c6053604fb78a9d358cc449228848c2e46a8bea12a6f3a378994742b69

- **Weather-related disruptions:** The transcript noted that adverse weather events in January and February had a significant impact—approximately **$2 million**—on transaction revenue, suggesting vulnerability to external weather conditions.  **[896429_CTLP_3427043_4]**
- **Economic uncertainty impacting equipment sales:** There was clear discussion of a slowdown in equipment purchases due to economic uncertainty and tariffs, which deferred revenue in Q3—even though a rebound was noted, it signals potential short-term headwinds.  **[896429_CTLP_3427043_10]**
- **Supply constraints for high-demand products:** Despite strong demand for Smart Stores, there were mentions of being supply constrained rather than demand constrained, which could limit market share growth if such constraints persist.  **[896429_CTLP_3427043_10]**

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CTLP Q2 2025: $44M–$52M EBITDA guidance; margins deemed sustainable

d65a6d9705cb52cfb5f516dabf5fe929f94eaf71b206b9735842172197498f80

- **Reliance on Equipment Sales:** The guidance for equipment revenue is wide-ranging and dependent on ramp-up in Smart Store sales. If these larger equipment orders underperform, overall revenue and profitability could be adversely affected.  **[896429_CTLP_3414759_15]**
- **Margin Sustainability Risk:** While margins have improved, their sustainability depends on continuous cost reductions and maintaining higher take rates. Any slowdown in these operational efficiencies or pricing pressures could put profit margins at risk.  **[896429_CTLP_3414759_9]**
- **International Expansion Uncertainty:** The international business mix remains minimal (under 5%), meaning that any delays or challenges in scaling international operations could limit overall revenue growth and increase execution risks.  **[896429_CTLP_3414759_5]**

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1. **Margin Sustainability**  
   **Q:** Are margins sustainable this quarter?  
   **A:** Management confirmed that **margins are sustainable**, driven by an increased take rate and ongoing cost reduction measures, ensuring consistent improvement in both subscription and transaction margins.  **[896429_CTLP_3414759_9]** 

2. **EBITDA Guidance**  
   **Q:** What drives the EBITDA range?  
   **A:** Management explained that the wide **EBITDA guidance of $44M–$52M** reflects variability in higher equipment sales later in the year, with strength in recurring revenue underpinning the midpoint outlook.  **[896429_CTLP_3414759_15]** 

3. **ARPU Evolution**  
   **Q:** How did ARPU change this quarter?  
   **A:** Management highlighted that strategic shifts toward higher ticket locations and smart store deployments boosted **ARPU to $202**, up **12%** from the prior year, reinforcing operational leverage.  **[896429_CTLP_3414759_3]** 

4. **Lending Program**  
   **Q:** How does the lending program work?  
   **A:** Management noted that the company **does not hold any lending paper**; instead, it uses a trusted partner to originate loans, easing capital constraints for customers and driving equipment growth.  **[896429_CTLP_3414759_7]** 

5. **International Strategy**  
   **Q:** What is the update on international mix?  
   **A:** Management reported that international revenue remains **under 5%**, with steady wins in Latin America and EMEA, and expects this segment to further accelerate as deployments expand.  **[896429_CTLP_3414759_5]** 

6. **Product Feedback**  
   **Q:** How was the new product received?  
   **A:** Management shared that feedback for the Vendex product was **exceedingly positive**, with demand outpacing expectations and addressing traditional issues such as theft in vending.  **[896429_CTLP_3414759_13]** 

352d40f1a2b7715b3a619a761a5938c0073b6ebc35cd8cbe761cb42315a89322

- **Robust revenue growth and margin improvements:** Executives highlighted that increased transaction volumes, driven by a shift to micro markets and smart stores, are boosting average ticket sizes and raising margins, with subscription and transaction revenues growing strongly quarter-over-quarter.  **[896429_CTLP_3414759_9]** **[896429_CTLP_3414759_11]**
- **Strong product innovation and customer adoption:** The call emphasized positive customer feedback on new product launches, such as the Smart Store series and integrated software solutions, which are expanding market opportunities across diverse locations.  **[896429_CTLP_3414759_13]**
- **Enhanced customer financing to drive expansion:** The introduction of a micro lending program helps alleviate capital constraints for small and medium-sized clients, enabling them to invest in higher-value solutions and supporting further revenue growth.  **[896429_CTLP_3414759_7]**

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CTLP Q1 2025: 12% ARPU Rise Spurs Margin Gains

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- **Rising ARPU and ticket size:** Executives highlighted a **12% ARPU growth** in Q1, coupled with an increase in average ticket prices driven by an expanding mix of premium products, which supports stronger margins and revenue per unit.  **[896429_CTLP_3407118_6]** **[896429_CTLP_3407118_10]**
- **Strong international expansion:** Management is bullish on scaling efforts in **Europe and Latin America**, noting strategic customer deployments that pave the way for increased international revenue contributions.  **[896429_CTLP_3407118_4]**
- **Innovative product launches and new verticals:** The rollout of smart stores and entry into new segments, such as residential and alternative venues, create opportunities for diversified revenue streams and reduced shrinkage, enhancing the overall business model.  **[896429_CTLP_3407118_8]** **[896429_CTLP_3407118_12]**

dfb95f909105537062d1ab7d5175749b91f6d2f7e96ad3ee08d7d437d6b4d909

- **Wide guidance ranges**: The company provided a relatively wide range for net income and EBITDA guidance, which suggests potential volatility and uncertainty in future financial performance.  **[896429_CTLP_3407118_5]**
- **Early-stage new verticals**: Management noted that deployments in new verticals like residential, fitness centers, and car dealerships are still at early stages, without clear metrics on their revenue contribution, potentially delaying profitable scaling.  **[896429_CTLP_3407118_12]**
- **Uncertain transaction mix evolution**: There was ambiguity regarding the proportion of higher-ticket transactions versus traditional, lower-dollar transactions, raising concerns about whether improvements in ARPU will materialize sufficiently to drive overall revenue growth.  **[896429_CTLP_3407118_10]**

4933c16f381da08da6d8aaaa9b442e90ce1ed5c4e405f41dfecab69a9528130c

1. **Margin Sustainability**  
   **Q:** Will margins sustain improvement?  
   **A:** Management expects **modest margin improvement** driven by higher take rates and increased average ticket sizes that will likely cap soon and then improve gradually over the rest of the year.  **[896429_CTLP_3407118_3]** 

2. **Guidance Drivers**  
   **Q:** What drives wide EBITDA, net income range?  
   **A:** They attributed the wide guidance range to **revenue growth, improved margins, tax expenses, and steady operating costs**, with expectations that these factors will narrow the range as results unfold.  **[896429_CTLP_3407118_5]** 

3. **ARPU Growth**  
   **Q:** What's the ARPU outlook?  
   **A:** ARPU increased by **12%**, and management expects further growth as new services and higher-priced offerings drive the metric upward.  **[896429_CTLP_3407118_6]** 

4. **Intl Revenue**  
   **Q:** How will international revenue evolve?  
   **A:** Despite earlier targets, management remains bullish on international growth, noting encouraging new customer adds in Q1 that support a positive long-term trajectory.  **[896429_CTLP_3407118_7]** 

5. **Ticket Growth**  
   **Q:** Will transaction ticket prices rise?  
   **A:** There’s an expectation of continued increase in average ticket prices, supported by a shift toward gourmet and healthier options, with a noted **10%** year-over-year growth trend.  **[896429_CTLP_3407118_9]** 

6. **Transaction Mix**  
   **Q:** What percentage is high-ticket transactions?  
   **A:** Management did not disclose specific percentages, highlighting that the mix continues to evolve as they integrate a broader array of products.  **[896429_CTLP_3407118_10]** 

7. **LatAm Deployment**  
   **Q:** Any update on Latin America progress?  
   **A:** They are proceeding cautiously in Latin America, carefully measuring same-store sales and operational efficiencies from key customer deployments before a broader rollout.  **[896429_CTLP_3407118_4]** 

8. **New Verticals**  
   **Q:** How are residential and new verticals performing?  
   **A:** Residential markets and other new segments are just emerging, with early green shoots noted but without significant contribution metrics available yet.  **[896429_CTLP_3407118_12]** 

9. **Device Growth**  
   **Q:** What is the active device growth outlook?  
   **A:** The forecast is for **low- to mid-single-digit growth** in active devices, although management now places more emphasis on the value delivered per device rather than just the count.  **[896429_CTLP_3407118_13]** 

10. **Smart Store Uses**  
    **Q:** Where are smart stores deployed?  
    **A:** Smart stores are now in use across venues such as gyms, hospitals, universities, and corporate settings, offering a theft-resistant, efficient self-service experience.  **[896429_CTLP_3407118_8]** 

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Revenue from International Operations

Total Revenue

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- Cantaloupe Inc. reported **Q3 FY2025 total revenue** of **$75.4 million**, an **11%** year-over-year increase, with **adjusted EBITDA** growing **37%** to **$13.9 million** **[896429_CTLP_3427043_0]** **[896429_CTLP_3427043_2]**.  
- **Net income applicable to common shares** was **$48.9 million** (**$0.65 diluted EPS**), significantly benefiting from a **$42.2 million** deferred tax asset release **[896429_CTLP_3427043_2]**.  
- The company revised its **FY2025 guidance**, now expecting total revenues of **$302 million–$308 million** (13%–15% growth), U.S. GAAP net income of **$64 million–$70 million**, and adjusted EBITDA of **$46 million–$50 million** **[896429_CTLP_3427043_3]**.  
- Q3 revenue was dampened by approximately **$2 million** of weather-related transaction losses and delays in equipment purchases due to economic uncertainty **[896429_CTLP_3427043_4]**.  
- Operational highlights included strong growth in micro markets and Seed software, the commercial launch of the Engage Pulse cashless device, and over **$2 million** of Smart Stores shipments in Q3 **[896429_CTLP_3427043_0]** **[896429_CTLP_3427043_1]** **[896429_CTLP_3427043_5]**.  
- As of March 31, 2025, active customers rose **11%** to over **34,000**, and active devices increased **4%** to **1.26 million** **[896429_CTLP_3427043_2]**.  
- Average revenue per unit (ARPU) reached **$206**, up **11%** year-over-year, surpassing the **$200** milestone **[896429_CTLP_3427043_12]**.

Cantaloupe Inc. Reports Q3 FY2025 Results and Updates FY2025 Outlook

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CTLP Q4 2024: Guides 15–20% Growth, Equipment Margin Falls to 7%

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- Cantaloupe, Inc. reported **Q3 Fiscal Year 2025 revenue** of **$75.4 million**, an **11.1% increase** year-over-year, with **Adjusted EBITDA** growing **36.6%** to **$13.9 million**.  **[896429_0001628280-25-023802_ex-991xearningreleaseq32025.htm:0]** 
- **Net income applicable to common shares** for Q3 2025 was **$48.9 million** (**$0.65 diluted earnings per share**), significantly higher than the prior year due to a **$42.2 million one-time release of a deferred tax asset valuation allowance**.  **[896429_0001628280-25-023802_ex-991xearningreleaseq32025.htm:0]** 
- The company revised its **Fiscal Year 2025 outlook**, projecting **total revenue** between **$302 million and $308 million** and **Adjusted EBITDA** between **$46 million and $50 million**.  **[896429_0001628280-25-023802_ex-991xearningreleaseq32025.htm:1]** 
- Key business developments include amending credit facilities to increase total borrowing capacity to **$100 million** and an **11.2% year-over-year increase in active customers** to **34,115**.  **[896429_0001628280-25-023802_ex-991xearningreleaseq32025.htm:0]**

Cantaloupe, Inc. Reports Strong Q3 2025 Financial Results and Updates FY2025 Outlook

8287d60bfec600c73afe360b6355c0fc91e90b45d7d9fc4faeb0510215166ced

1. **Revenue Guidance**  
   **Q:** Guidance for sub/transaction revenue growth?  
   **A:** Management revised guidance to **15–20%** sub and transaction revenue growth, noting a midrange position compared to earlier **18%** expectations.  **[896429_CTLP_3401367_4]** 

2. **Revenue Mix**  
   **Q:** Mix: subscription vs. transaction growth?  
   **A:** They expect subscription revenue to grow around **15%** while transaction revenue is forecast in the **18%+** range, reflecting solid momentum.  **[896429_CTLP_3401367_5]** 

3. **Acquisition Strategy**  
   **Q:** SB Software acquisition impact details?  
   **A:** The acquisition is primarily a technology play, representing less than **1%** of revenue, but it opens significant cross-sell opportunities in Europe.  **[896429_CTLP_3401367_6]** **[896429_CTLP_3401367_8]** 

4. **Growth Drivers**  
   **Q:** What factors are driving overall growth?  
   **A:** Growth is driven by international expansion, strong micromarket performance, and a reacceleration in subscription revenue, all contributing to healthy topline expansion.  **[896429_CTLP_3401367_9]** 

5. **Margin Outlook**  
   **Q:** How will gross margins perform?  
   **A:** Transaction margins have modest expansion potential, subscription margins remain stable, and for equipment revenue the target is to improve to **10–15%**.  **[896429_CTLP_3401367_13]** 

6. **International Outlook**  
   **Q:** What is the view on international markets?  
   **A:** Management is bullish on both Europe and Latin America, driven by the adoption of smart stores and expanding micromarket penetration.  **[896429_CTLP_3401367_16]** 

7. **Revenue per Connection**  
   **Q:** Expected evolution of revenue per connection?  
   **A:** The average revenue per connection, currently at **$194**, is expected to continue rising with new add-on modules launching in FY '25.  **[896429_CTLP_3401367_17]** 

8. **Implementation Timelines**  
   **Q:** Any updates on installation timeframes?  
   **A:** The implementation cycle has normalized back to an average **6-week** timeframe, a notable improvement from previous delays of up to 4 months.  **[896429_CTLP_3401367_11]** **[896429_CTLP_3401367_14]** 

9. **Software Localization**  
   **Q:** Adjustments for SB Software in Europe?  
   **A:** The company is localizing and translating SB Software for Continental Europe, leveraging its enhanced sales channels while maintaining core product strengths.  **[896429_CTLP_3401367_10]** 

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Subscription and Transaction Fees

- Transaction Fees

- Subscription Fees

Equipment Sales

Operating Leases

Sales-type Leases

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- Cantaloupe Inc. reported **Q3 FY2025 total revenue** of **$75.4 million**, an **11%** year-over-year increase, with adjusted EBITDA growing **37%** to **$13.9 million**.  **[896429_CTLP_3427043_0]** **[896429_CTLP_3427043_2]**  Net income applicable to common shares was **$48.9 million**, or **$0.65 diluted earnings per share**, significantly benefiting from a **$42.2 million** tax benefit.  **[896429_CTLP_3427043_2]** 
- Revenue came in lower than anticipated due to **onetime weather events** impacting transaction revenue (approximately **$2 million**  **[896429_CTLP_3427043_4]** ) and **delays in equipment purchases** due to economic uncertainty, though equipment sales rebounded strongly in April.  **[896429_CTLP_3427043_0]** **[896429_CTLP_3427043_2]** 
- The company revised its **fiscal year 2025 guidance**, now expecting total revenues between **$302 million** and **$308 million** (representing **13% to 15%** growth), total U.S. GAAP net income between **$64 million** and **$70 million**, and adjusted EBITDA between **$46 million** and **$50 million**.  **[896429_CTLP_3427043_3]** 
- Operational highlights include strong growth in micro markets and Seed software, new customer wins, and the commercial availability of the Engage Pulse cashless device, which has shown significant sales increases.  **[896429_CTLP_3427043_0]** **[896429_CTLP_3427043_1]**  Cantaloupe shipped over **$2 million** of Smart Stores in Q3, a product expected to drive future growth.  **[896429_CTLP_3427043_0]** **[896429_CTLP_3427043_5]** 
- As of March 31, 2025, active customers increased **11%** to over **34,000**, and active devices increased **4%** to **1.26 million**.  **[896429_CTLP_3427043_2]**  The average revenue per unit (ARPU) for Q3 FY2025 reached **$206**, up **11%** from the prior year, surpassing the **$200** milestone.  **[896429_CTLP_3427043_2]** **[896429_CTLP_3427043_12]**

Cantaloupe Inc. Reports Q3 2025 Results and Updates FY2025 Guidance

2249e1dfa07d28ab1d946660cb54428b7a68b21ce4614b6baeffa0f3892fc6a0

1. 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?  
2. 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?  
3. 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?  
4. 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?  
5. 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?

8d81ebab5bfac50c049fede68a667c92250005df3275677434dd10ba13714345

- **Robust Revenue Growth and Margin Improvement:** The company is experiencing strong subscription and transaction revenue growth with guidance for FY '25 of **15%-20%** growth and continued increases in revenue per connection, which reached **$194** in Q4 2024. This indicates a healthy demand and upward pricing momentum.  **[896429_CTLP_3401367_0]** **[896429_CTLP_3401367_3]**
- **Strategic International Expansion:** With successful initiatives in Europe and Latin America, including the acquisition of SB Software—which is expected to contribute less than **1%** of revenue now but provides significant cross-sell opportunities—CTLP is well-positioned to leverage growth in new markets.  **[896429_CTLP_3401367_1]** **[896429_CTLP_3401367_8]**
- **Operational Efficiency Gains:** Improvements in operational processes, such as reducing the implementation cycle back to a **6-week** timeframe (from as long as 4 months previously) and enhanced internal controls, set a solid foundation for profitable and scalable growth.  **[896429_CTLP_3401367_12]**

eb55c0ab1547f5234919b875264950b5a75f4e75bc20b7f90fac6f8b9534efd6

- 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**.  **[896429_0001104659-25-059703_tm2518071d1_ex99-1.htm:0]** 
- Cantaloupe shareholders will receive **$11.20 per share** in cash, which represents a **34% premium** to the unaffected stock price on May 30, 2025.  **[896429_0001104659-25-059703_tm2518071d1_ex99-1.htm:0]** **[896429_0001104659-25-059703_tm2518071d1_ex99-1.htm:1]** 
- 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.  **[896429_0001104659-25-059703_tm2518071d1_ex99-1.htm:1]** **[896429_0001104659-25-059703_tm2518071d1_8k.htm:2]** 
- 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.  **[896429_0001104659-25-059703_tm2518071d1_ex99-1.htm:0]** **[896429_0001104659-25-059703_tm2518071d1_ex99-1.htm:1]**

Cantaloupe Enters Definitive Agreement to Be Acquired by 365 Retail Markets

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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.

1. **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.  **[896429_0001628280-24-040037_ctlp-20240630.htm:91]** **[896429_0001628280-24-040037_ctlp-20240630.htm:41]** 
2. **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.  **[896429_0001628280-24-040037_ctlp-20240630.htm:91]** **[896429_0001628280-24-040037_ctlp-20240630.htm:41]** 
3. **Lease Revenues** - Includes revenues from operating leases and sales-type finance leases under the Cantaloupe One and QuickStart programs.  **[896429_0001628280-24-040037_ctlp-20240630.htm:91]**

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- **Margin Pressure:** The equipment revenue margin dropped from **21%** in Q4 '23 to **7%** in Q4 '24, which highlights potential pressure on profitability in that segment.  **[896429_CTLP_3401367_3]**
- **Limited Contribution from Acquisitions:** The acquisition of SB Software is expected to contribute less than **1%** to overall revenue, posing risks around integration and relying on a technology asset that may not materially boost growth.  **[896429_CTLP_3401367_8]** **[896429_CTLP_3401367_9]**
- **Exposure to Consumer Spending Variability:** There was a noticeable decline in transaction revenue in June, attributed to weaker consumer spending, raising concerns that revenue could be vulnerable to fluctuations in consumer behavior if the trend persists.  **[896429_CTLP_3401367_7]**

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CANTALOUPE (CTLP)

Analyst Earnings Quarterly Reports

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Ravi Venkatesan

Anna Novoseletsky

Jared Grachek

Jeffrey Dumbrell

Scott Stewart

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Anne M. Smalling

Douglas G. Bergeron

Ellen Richey

Ian Harris

Jacob Lamm

Lisa P. Baird

Michael K. Passilla

Shannon S. Warren

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Gary Prestopino

Josh Nichols

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Aditya Dagaonkar

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