Payments

Cantaloupe reports record Q4 and FY 2022 revenue, mixed earnings results

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September 9, 2022

Cantaloupe Inc., a digital payments and software services company that provides end-to-end technology solutions for the unattended retail market, reported record Q4 and FY 2022 revenue, according to an earnings report.

Highlights include:

Revenue rose 18% from $49 million in Q4 2021 to a record of $58 million for the quarter ending June 30, 2022. The increase was led by a fifth consecutive quarter of record transaction revenue.
Net income fell from $2.9 million to a $2.08 million loss in the comparative quarters.
Basic and diluted income per share fell from 4 cents to a 3-cent loss.
Transaction fees rose 23% to $30 million.
Subscription fees rose 5% to $14.9 million.
Equipment sales rose 22% to $13.1 million.
Total volumes of transactions rose 20% to $616.1 million.
Active customers rose 21% from 19,834 to 23,991.
Active devices rose 4% from 1.09 million to 1.14 million.
For the full fiscal year, revenue rose 23% from $166.9 million in 2021 to a record revenue of $205.2 million in 2022.
Net loss improved from $8.7 million to $1.7 million in the comparative years.
Basic and diluted income per share improved from a 14-cent loss to a 3-cent loss in the comparative years; transaction fees rose 29% to $110.7 million; subscription fees rose 8% to $58.1 million; equipment sales rose 31% to $36.4 million and total volumes of transactions rose 30.2% to $2.3 billion.

Shares traded Thursday at $5.45 against a 52-week range of $4.28-$13.25.

The $58 million in quarterly revenue beat analyst expectations by $1.7 million, while the GAAP EPS of a 3-cent loss missed expectations by 2 cents, according to Seeking Alpha.

"The self-service economy is still at an early stage, and we are very excited about Cantaloupe's leadership position, allowing us to capitalize on the secular tailwinds benefitting our industry," CEO Sean Feeney said in the press release.

For full fiscal year 2023, the company expects revenue to be between $225 million and $235 million and U.S. GAAP net income to be between $1 million and $5 million.