MALVERN, PA — Cantaloupe, Inc. (Nasdaq: CTLP) announced robust financial results for the second quarter of fiscal 2025, showcasing continued growth in revenue and adoption of new technologies. The company reported revenue of $73.7 million, marking a 12.8% increase compared to the same period last year, driven by substantial gains in transaction and subscription fees.
Transaction fees rose 17.2% to $44.4 million, while subscription fees grew 14.1% to $20.7 million. Overall, net income applicable to common shares reached $5.0 million, or $0.07 per diluted share, compared to $3.1 million, or $0.04 per diluted share, in Q2 of fiscal 2024. Cantaloupe also achieved an adjusted gross margin of 41.7%, up from 37.2%, underscoring its focus on improving operational efficiency.
“In the second quarter, we saw increased adoption of new products and accelerated growth in subscription and transaction revenue,” said Ravi Venkatesan, CEO of Cantaloupe. “I am pleased with our continued success increasing operating leverage through margin expansion.”
Key Innovations and Business Momentum
The quarter featured the launch of two new tech-driven solutions that aim to enhance the company’s offerings and customer experience.
- AdVantage Program: Introduced in October 2024, this platform enables brands to engage consumers through digital advertising displayed on Cantaloupe’s point-of-sale (POS) touchscreen devices across the U.S. and Canada.
- Smart Store: Debuted in December 2024, these advanced, self-service retail solutions are designed to tackle operational challenges like labor shortages and theft while providing a seamless shopping experience.
Additionally, Cantaloupe secured a partnership with the San Jose Earthquakes to provide POS technology and premium suite management solutions for all events at the team’s stadium, a move that highlights the company’s growing footprint in high-profile venues.
The company reported growth in both active customers and devices. Active customers increased by 9.6% to 32,909, while active devices grew by 3.5% to 1.27 million compared to the same quarter in the previous year.
Fiscal 2025 Outlook
Cantaloupe reaffirmed its fiscal year 2025 guidance, projecting total revenue between $308 million and $322 million and subscription and transaction revenue growth in the range of 15% to 20%. The company expects to generate adjusted EBITDA between $44 million and $52 million, with net income between $22 million and $32 million.
With innovative product launches, growing customer adoption, and solid financial performance, Cantaloupe is well-positioned to achieve its fiscal 2025 goals. The company’s focus on delivering technology-driven solutions and improving operating efficiency lays a strong foundation for long-term growth and value creation.
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