Cantaloupe, Inc. is a software and payments company that provides end-to-end technology solutions for the unattended retail market. USAT is transforming the unattended retail community by offering one integrated solution for payments processing, logistics, and back-office management. The Company’s enterprise-wide platform is designed to increase consumer engagement and sales revenue through digital payments, digital advertising and customer loyalty programs, while providing retailers with control and visibility over their operations and inventory. As a result, customers ranging from vending machine companies, to operators of micro-markets, gas and car charging stations, laundromats, metered parking terminals, kiosks, amusements and more, can run their businesses more proactively, predictably, and competitively.

Company profile
Ticker
CTLP, CTLPP
Exchange
Website
CEO
Sean Feeney
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
USA TECHNOLOGIES INC
SEC CIK
Corporate docs
Subsidiaries
Cantaloupe Solutions Canada, Inc. • Cantaloupe International, Inc. • Cantaloupe Systems, Inc. • Stitch Networks Corporation • USAT Capital Corp, LLC. ...
IRS number
232679963
CTLP stock data
Investment data
Securities sold
Number of investors
Calendar
6 May 22
9 Aug 22
30 Jun 23
Financial summary
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Annual (USD) | Jun 21 | Jun 20 | Jun 19 | Jun 17 | |
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 75.09M | 75.09M | 75.09M | 75.09M | 75.09M | 75.09M |
Cash burn (monthly) | 407.67K | 1.12M | (no burn) | (no burn) | (no burn) | 298.92K |
Cash used (since last report) | 1.76M | 4.83M | n/a | n/a | n/a | 1.29M |
Cash remaining | 73.33M | 70.25M | n/a | n/a | n/a | 73.8M |
Runway (months of cash) | 179.9 | 62.6 | n/a | n/a | n/a | 246.9 |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
18 Jul 22 | Ankit Varia | NQSO Non-Qualified Stock Option (Right to Buy) | Grant | Acquire A | No | No | 5.5 | 30,000 | 165K | 30,000 |
16 Jun 22 | Ian Jiro Harris | Common Stock | Buy | Acquire P | No | No | 4.8 | 4,679 | 22.46K | 106,100 |
15 Jun 22 | Ravi Venkatesan | Common Stock | Buy | Acquire P | No | No | 4.84 | 10,500 | 50.82K | 80,583 |
15 Jun 22 | Ian Jiro Harris | Common Stock | Buy | Acquire P | No | No | 4.85 | 1,412 | 6.85K | 101,421 |
14 Jun 22 | Ian Jiro Harris | Common Stock | Buy | Acquire P | No | No | 4.65 | 4,484 | 20.85K | 100,009 |
24 May 22 | Lisa P. Baird | Common Stock | Buy | Acquire P | No | No | 4.67 | 10,000 | 46.7K | 56,897 |
Institutional ownership, Q1 2022
5.0% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 1 |
Opened positions | 0 |
Closed positions | 0 |
Increased positions | 0 |
Reduced positions | 0 |
13F shares | Current |
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Total value | 37.02M |
Total shares | 3.53M |
Total puts | 0 |
Total calls | 0 |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
Oakland Hills BV | 3.53M | $37.02M |
Financial report summary
?Competition
Tribune Media • Shiloh Industries • Amerityre • CordovaCann • Twenty-First Century Fox • VPR Brands • Sunshine Biopharma • Rafina Innovations • Regenicin • Newegg CommerceRisks
- We have a history of losses since inception and if we continue to incur losses, the price of our shares can be expected to fall.
- If we are not able to implement successful enhancements and new features for our products and services, our business could be materially and adversely affected.
- Substantially all of the network service contracts with our customers are terminable for any or no reason upon thirty to sixty days’ advance notice.
- We may not successfully implement our go-to-market strategy which may adversely affect growth and profitability.
- Our ability to commercially manage the transition from the 3G network could lead to competitive disadvantage in the marketplace.
- The loss of one or more of our key customers could significantly reduce our revenues, results of operations, and increase net losses.
- Increases in card association and debit network interchange fees could increase our operating costs or otherwise adversely affect our operations.
- We depend on our key personnel and, if they leave us, or if we are unable to attract highly skilled personnel, our business could be adversely affected.
- Disruptions to our systems, breaches in the security of transactions involving our products or services, or failure of our processing systems could adversely affect our reputation, business and results of operations.
- The termination of our relationships with certain third-party suppliers upon whom we rely for services that are critical to our products could adversely affect our business and delay achievement of our business plan.
- We rely on other card payment processors, and if they fail or no longer agree to provide their services or we fail to operate in compliance with the requirements of those relationships, our customer relationships could be adversely affected, and we could lose business.
- Disruptions at other participants in the financial system could prevent us from delivering our cashless payment services.
- Any increase in chargebacks not paid by our customers may adversely affect our results of operations, financial condition and cash flows.
- Our dependence on proprietary technology and limited ability to protect our intellectual property may adversely affect our ability to compete.
- We may require additional financing or find it necessary to raise capital to sustain our operations and without it we may not be able to achieve our business plan.
- Failure to comply with any of the financial covenants under the Company’s credit agreement could result in an event of default which may accelerate our outstanding indebtedness or other obligations and have a material adverse impact on our business, liquidity position and financial position.
- We are subject to laws and regulations that affect the products, services and markets in which we operate. Failure by us to comply with these laws or regulations would have an adverse effect on our business, financial condition, or results of operations.
- The accounting review of our previously issued financial statements and the audits of prior fiscal years have been time-consuming and expensive, has resulted in claims and lawsuits , and may result in additional expense and/or litigation.
- Matters relating to or arising from the restatement and the 2019 Investigation, including adverse publicity and potential concerns from our customers could continue to have an adverse effect on our business and financial condition.
- Matters relating to recent U.S. Department of Justice (“DOJ”) inquiries, initially received in the third quarter of fiscal year 2020 may require significant time and attention, result in substantial expenses and lead to adverse publicity.
- We and certain of our former officers and directors could be subject to future claims and lawsuits, which could require significant additional management time and attention, result in significant additional legal expenses or result in government enforcement actions.
- Failure to maintain effective systems of internal control over financial reporting and disclosure controls and procedures could cause a loss of confidence in our financial reporting and adversely affect the trading price of our common stock.
- Director and officer liability is limited and shareholders may have limited rights to recover against directors for breach of fiduciary duty.
- An active trading market for our common stock may not be maintained.
- There is a risk that we may be dropped from inclusion in the Russell 2000® Index which could result in a decline in the price of our stock.
- Upon certain fundamental transactions involving the Company, such as a merger or sale of substantially all of our assets, we may be required to distribute the liquidation preference then due to the holders of our Series A Preferred Stock which would reduce the amount of the distributions otherwise to be made to the holders of our common stock in connection with such transactions.
Management Discussion
- •22,818 Active Customers (as defined below) and 1.1 million Active Devices (as defined below) on our service.
- •Continued success and rollout of the ePort Engage Series, with the release of the ePort Engage Combo to the market in March 2022. The ePort Engage Combo, the latest iteration of the ePort Engage series and touchscreen devices, provides customers an all-in-one card reader and telemeter; a digital touchscreen and payment platform to install directly over the existing bill acceptor.
- •The Company announced the general availability of the newly enhanced Yoke Micro Market Platform upgrade that includes new features and functionality for Yoke Pay, Yoke POS, and the Yoke Portal. This next generation platform is being upgraded into all existing Yoke customer locations, along with serving as the newly available product for customers to start deploying in the market.
Content analysis
?Positive | ||
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Uncertain | ||
Constraining | ||
Legalese | ||
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Readability |
H.S. sophomore Avg
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New words:
acceptor, bad, bundled, capacity, Combo, compliant, conflict, creditor, deploying, flat, functionality, geopolitical, inherently, iteration, JP, mentioned, modification, Morgan, Portal, processor, reader, Russia, SOFR, statute, telemeter, Ukraine
Removed:
alternative, distribution, experienced, growing, insurance, JumpStart, LTE, national, outage, principal, promotional, reflecting, regional, renting, typically, written
Financial reports
Current reports
8-K
Departure of Directors or Certain Officers
20 Jul 22
8-K
Cantaloupe, Inc. Reports Third Quarter 2022 Financial Results, Which Includes Record Transaction Fee Revenue
4 May 22
8-K
Entry into a Material Definitive Agreement
23 Mar 22
8-K
Cantaloupe, Inc. Reports Record Quarterly Revenue for Second Quarter 2022
3 Feb 22
8-K
Submission of Matters to a Vote of Security Holders
12 Nov 21
8-K
Cantaloupe, Inc. Reports First Quarter Fiscal Year 2022 Results
4 Nov 21
8-K
Departure of Directors or Certain Officers
6 Oct 21
8-K
Cantaloupe, Inc. Reports Fourth Quarter and Fiscal Year 2021 Results
2 Sep 21
8-K
Amendments to Articles of Incorporation or Bylaws
10 Aug 21
8-K
Departure of Directors or Certain Officers
3 Jun 21
Registration and prospectus
424B3
Prospectus supplement
14 Apr 21
S-3
Shelf registration
5 Apr 21
8-A12B
Registration of securities on exchange
17 Nov 20
S-8
Registration of securities for employees
18 Aug 20
S-8
Registration of securities for employees
18 Aug 20
25-NSE
Exchange delisting
5 Feb 20
S-8
Registration of securities for employees
16 Oct 19
424B4
Prospectus supplement with pricing info
23 May 18
S-1MEF
Registration of additional securities for an S-1
22 May 18
S-1/A
IPO registration (amended)
21 May 18
Proxies
DEFA14A
Additional proxy soliciting materials
1 Oct 21
DEFA14A
Additional proxy soliciting materials
30 Mar 21
DEF 14A
Definitive proxy
29 Mar 21
DEFR14A
Revised proxy
12 May 20
DEFA14A
Additional proxy soliciting materials
5 May 20
DEFR14A
Revised proxy
5 May 20
DEFA14A
Additional proxy soliciting materials
29 Apr 20
DEFA14A
Additional proxy soliciting materials
21 Apr 20
DEFA14A
Additional proxy soliciting materials
20 Apr 20
Other
SD
Conflict minerals disclosure
26 May 22
SD
Conflict minerals disclosure
27 May 21
EFFECT
Notice of effectiveness
15 Apr 21
CORRESP
Correspondence with SEC
11 Apr 21
UPLOAD
Letter from SEC
11 Apr 21
CERT
Certification of approval for exchange listing
18 Nov 20
SD
Conflict minerals disclosure
29 May 20
UPLOAD
Letter from SEC
29 Apr 20
CORRESP
Correspondence with SEC
21 Apr 20
UPLOAD
Letter from SEC
14 Apr 20
Ownership
4
CANTALOUPE / Ankit Varia ownership change
20 Jul 22
3
CANTALOUPE / Ankit Varia ownership change
20 Jul 22
SC 13G
CANTALOUPE / Oakland Hills BV ownership change
20 Jul 22
4
CANTALOUPE / Ravi Venkatesan ownership change
16 Jun 22
4
CANTALOUPE / Ian Jiro Harris ownership change
16 Jun 22
4
CANTALOUPE / Douglas L Braunstein ownership change
25 May 22
4
CANTALOUPE / Lisa P. Baird ownership change
24 May 22
4
CANTALOUPE / Ravi Venkatesan ownership change
24 May 22
4
CANTALOUPE / Ian Jiro Harris ownership change
13 May 22
4
CANTALOUPE / Douglas Bergeron ownership change
13 May 22
Transcripts
2022 Q3
Earnings call transcript
9 May 22
2022 Q2
Earnings call transcript
4 Feb 22
2022 Q1
Earnings call transcript
7 Nov 21
2021 Q4
Earnings call transcript
3 Sep 21
2021 Q3
Earnings call transcript
9 May 21
2021 Q1
Earnings call transcript
7 Nov 20
2020 Q4
Earnings call transcript
10 Sep 20
2020 Q3
Earnings call transcript
24 Jun 20
2018 Q3
Earnings call transcript
8 May 18
2018 Q2
Earnings call transcript
8 Feb 18
Reddit threads
Daily Discussion Thread - May 5th, 2022
5 May 22
Daily Discussion Thread - May 4th, 2022
4 May 22
Daily Discussion Thread - February 3rd, 2022
3 Feb 22
Daily Discussion Thread - February 2nd, 2022
2 Feb 22
Daily Discussion Thread - February 1st, 2022
1 Feb 22
Daily Discussion Thread - January 31st, 2022
31 Jan 22
Daily Discussion Thread - November 4th, 2021
4 Nov 21
Daily Discussion Thread - November 3rd, 2021
3 Nov 21
Daily Discussion Thread - September 2nd, 2021
2 Sep 21
Daily Discussion Thread - September 1st, 2021
1 Sep 21