Payments

Cantaloupe tapers Q2 2022 loss on 33% revenue boost

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February 4, 2022

Cantaloupe Inc., a digital payments and software services company that provides end-to-end technology solutions for the unattended retail market, reduced its earnings loss on a 33% revenue gain in Q2 2022 over the prior year's second quarter, according to an earnings release.

• Revenue rose 33% from $38.28 million to $51.1 million in the comparative quarters.
• The company's net loss improved from $2.9 million to $468,000.
• Basic and diluted loss per common share improved from 4 cents to one cent.
• Dollar volumes of transactions rose 31% to $555.3 million.
• Subscription and transaction fees increased 24% to $41.2 million, while equipment sales jumped 95% to $9.9 million.
• The number of active customers increased by 16% from 18,304 in Q2 2021 to 21,315 in Q2 2022.
• The number of active devices increased about 4% from 1.08 million to 1.12 million in the comparative quarters.
• The company shipped more than 14,000 ePort Engage devices.

Shares traded at $7.45 Thursday against a 52-week range of $7.25-$13.25.

The $51.1 million in quarterly revenue beat analyst estimates by $2.46 million while the GAAP EPS of a 1-cent loss beat expectatios by one cent, according to Seeking Alpha.

"We reported record revenues, growing 33% year over year, driven by a 24% increase in subscription and transaction fees and a 95% increase in equipment revenue over the prior year second quarter," CEO Sean Feeney said in the press release. "We believe Cantaloupe will continue to benefit from strong industry tailwinds, such as the digitization and innovation of payments and the sustained adoption and growth of unattended retail."

For full fiscal year 2022, the company remains confident in its previously issued guidance, and continues to expect the following:

• Revenue to be between $200 million and $210 million, representing a 20% to 26% increase year over year.
• U.S. GAAP net loss applicable to common shares to be between $7 million and $5 million.

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