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Transaction, subscription fees boost Cantaloupe Q3 2023 results

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May 5, 2023

Cantaloupe Inc. lifted its Q3 2023 sales and earnings over the prior year period, citing record revenue in transaction fees and subscription fees, according to an earnings report. Highlights include:

Revenue rose 20% from $50.3 million in Q3 2022 to $60.4 million in the quarter ending March 31, 2023.
Net income rose from $1.6 million to $6.7 million in the comparative quarters.
Net earnings per share on both a basic and diluted basis rose from 3 cents to 9 cents.
Active customers rose 21% from 22,818 to 27,598.
Active devices rose 2% from 1.13 million to 1.15 million.
Transaction fees rose 21% to $33.4 million.
Subscription fees rose 22% to $17.9 million.
Equipment sales rose 12% to $9.1 million.
Total dollar volumes of transactions rose 16% to $653.6 million.
Transactions rose 4% from 259 million to 268 million.

Shares traded Thursday at $5.47 against a 52-week range of $2.77 to $6.90.

The $60.4 million in quarterly revenue missed analyst expectations by $260,000 and the GAAP EPS of 9 cents beat expectations by 5 cents, according to Seeking Alpha.

"We experienced strong financial results in Q3, with record revenue in transaction fees and subscription fees, which demonstrates progress on our strategic initiatives and the adoption of our new products," Ravi Venkatesan, CEO, said in the press release. "The integration of Three Square Market is going very well and we are seeing an acceleration of our micro markets business as both existing and new customers are migrating their kiosks to the 32M platform."

For the full fiscal year 2023, the company reiterated the following: