Payments

Cantaloupe boosts Q1 2022 sales 24%, improves earnings

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November 5, 2021

Cantaloupe, a digital payments and software services company that provides end-to-end technology solutions for the unattended retail market, reported strong Q1 2022 results for the quarter ended Sept. 30, 2021, according to an earnings release.

"We had a strong start to fiscal year 2022, with first quarter revenues increasing 24% year over year, driven by a 34% increase in transaction revenues and a 37% increase in equipment revenue over the prior year first quarter," CEO Sean Feeney said in the press release.

The company delivered revenues in the first quarter of $45.78 million, an increase of 24.1% over $36.87 million in the prior year's first quarter.

Net loss improved from $6.85 million to $1.2 million for the comparative quarters.

Basic and diluted loss per common share improved from 11 cents to two cents.

The $45.78 in quarterly revenue missed analyst expectations by $1.64 million, while the GAAP earnings per share loss of two cents beat expectations by one cent, according to Seeking Alpha.

Shares traded Thursday at $12.15 against a 52-week range of $7.75-$13.25.

Transaction fees rose 34.3% YOY to $26.4 million, subscription fees rose 5.8% to $14.2 million, and equipment sales rose 36.8% to $5.2 million.

For full fiscal year 2022, the company remains confident in its previously issued guidance and continues to expect revenue to be between $200 million and $210 million.