USAT Cantaloupe

SA Technologies, Inc. is a cashless payments and software services company that provides end-to-end technology solutions for the self-service 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
USAT, USATP
Exchange
Website
CEO
Sean Feeney
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
USA TECHNOLOGIES INC
SEC CIK
Corporate docs
IRS number
232679963
USAT stock data
()
News
Stocks That Hit 52-Week Highs On Monday
22 Mar 21
Stocks That Hit 52-Week Highs On Thursday
18 Mar 21
USA Technologies Raises $55M In Private Placement At 11.6% Discount
25 Feb 21
USA Technologies Announces $55M Common Stock Private Placement Of 5.73M Shares At $9.60/Share
25 Feb 21
12 Information Technology Stocks Moving In Thursday's After-Market Session
4 Feb 21
Press releases
USA Technologies to Hold Third Quarter Results Conference Call on May 6, 2021
8 Apr 21
USA Technologies Launches eCommerce Integration for OCS and Delivery Services
30 Mar 21
USA Technologies Announces 2021 Annual Meeting of Shareholders
10 Mar 21
USA Technologies Enhances VMS Platform for Small and Medium Business Customers with Next Generation of Seed Cashless+
9 Mar 21
USA Technologies Announces $55 Million Common Stock Investment from Multiple Investors
25 Feb 21
Investment data
Securities sold
Number of investors
Calendar
5 Feb 21
18 Apr 21
30 Jun 21
Financial summary
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Financial data from Cantaloupe earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 28.16M | 28.16M | 28.16M | 28.16M | 28.16M | 28.16M |
Cash burn (monthly) | 2.18M | 778.58K | 951K | 2.59M | 1.94M | 413K |
Cash used (since last report) | 7.88M | 2.82M | 3.44M | 9.37M | 7.04M | 1.49M |
Cash remaining | 20.29M | 25.34M | 24.72M | 18.79M | 21.13M | 26.67M |
Runway (months of cash) | 9.3 | 32.6 | 26.0 | 7.3 | 10.9 | 64.6 |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
24 Feb 21 | Hudson Executive Capital | Common Stock | Grant | Aquire A | Yes | No | 9.6 | 975,000 | 9.36M | 11,995,765 |
10 Nov 20 | James M Pollock | Common Stock | Buy | Aquire P | No | No | 8.75 | 750 | 6.56K | 5,112 |
17 Sep 20 | Scott Matthew Stewart | NQSO Common Stock | Grant | Aquire A | No | No | 8.58 | 125,000 | 1.07M | 125,000 |
Institutional ownership Q4 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
64.9% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 97 |
Opened positions | 85 |
Closed positions | 0 |
Increased positions | 0 |
Reduced positions | 5 |
13F shares |
Current |
---|---|
Total value | 486.15M |
Total shares | 46.1M |
Total puts | 0 |
Total calls | 1.44M |
Total put/call ratio | – |
Largest owners |
Shares | Value |
---|---|---|
Hudson Executive Capital | 11.02M | $115.5M |
Antara Capital | 4M | $45M |
Ardsley Advisory Partners | 3.73M | $39.04M |
Oakland Hills BV | 3.53M | $37.02M |
BEN Franklin Resources | 2.43M | $25.42M |
Cowen And | 2.22M | $23.3M |
Wasatch Advisors | 1.71M | $17.97M |
G2 Investment Partners Management | 1.55M | $16.19M |
Vanguard | 1.52M | $15.91M |
Hudson Bay Capital Management | 1.33M | $13.95M |
Financial report summary
?Competition
Tribune Media • Shiloh Industries • Amerityre • CordovaCann • Twenty-First Century Fox • VPR Brands • Sunshine Biopharma • Rafina Innovations • Regenicin • Lianluo SmartRisks
- 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.
- 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.
- The loss of one or more of our key customers could significantly reduce our revenues, results of operations, and net income.
- 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.
- Our dependence on proprietary technology and limited ability to protect our intellectual property may adversely affect our ability to compete.
- 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.
- 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.
- Substantially all of the network service contracts with our customers are terminable for any or no reason upon thirty to sixty days’ advance notice.
- Security is vital to our customers and therefore breaches in the security of transactions involving our products or services could adversely affect our reputation and results of operations.
- We rely on other card payment processors, and if they fail or no longer agree to provide their services, 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.
- 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.
- Increases in card association and debit network interchange fees could increase our operating costs or otherwise adversely affect our operations.
- Any increase in chargebacks not paid by our customers may adversely affect our results of operations, financial condition and cash flows.
- 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.
- 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 the filing of class action lawsuits and the receipt of derivative demand letters, and may result in additional expense and/or litigation.
- We and certain of our former officers and directors have been named in shareholder class action lawsuits, which could require significant additional management time and attention, result in significant additional legal expenses or result in government enforcement actions.
- 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.
- We may not be entitled to forgiveness of our recently received Paycheck Protection Program Loan, and our application for the Paycheck Protection Program Loan could in the future be determined to have been impermissible.
- Our ability to commercially manage the transition from the 3G network could lead to competitive disadvantage in the marketplace.
- Continued dependence on external providers and advisors could limit our ability to decrease operating expenses.
- We may not successfully implement our go-to-market strategy which may adversely affect growth and profitability.
- Our securities were delisted from Nasdaq and are now quoted on the OTC Markets. There can be no assurance that our securities will be relisted, or once relisted, our securities might not remain listed.
- 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.
- Director and officer liability is limited.
- If securities and/or industry analysts fail to continue publishing research about our business, if they change their recommendations adversely, or if our results of operations do not meet their expectations, our stock price and trading volume could decline.
Management Discussion
- Active Devices is defined as a device that has communicated with us or has had a transaction in the last 12 months. Included in the number of Active Devices are devices that communicate through other devices that communicate or transact with us. A self-service retail location that utilizes an ePort cashless payment device as well as Seed management services constitutes only one device.
- Net New Active Devices during the quarter are defined as the net change in Active Devices from prior quarter.
- The Company defines Active Customers as all customers with at least one active device. Net Change in Active customers is defined by the net change in Active Customers from the prior period.
Content analysis
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H.S. sophomore Avg
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New words:
advertising, Atlanta, attached, attorney, car, categorize, clarification, cohesive, conforming, constantly, contact, country, cybersecurity, deadline, deductibility, deduction, defendant, detected, easy, EMV, external, family, focused, gas, Georgia, half, incorrectly, interactive, knowledge, Launched, legislation, LTE, maker, mandated, mentioned, Mine, mission, nominal, passed, podcast, preliminarily, Prime, principle, properly, rebrand, reclassification, restaurant, retention, sabotage, seasonality, segment, strict, suite, summer, Tech, temporarily, therapy, Today, transformation, transforming, true, unlocking, Unregistered, upgrade, Upgraded, UR, vaccine, visibility, website, widely, wording
Removed:
acquired, applied, assumed, automated, bearing, bottom, coffee, comprised, customized, efficiency, enterprise, EPS, footprint, generating, integrating, kiosk, listing, maturing, merchandising, Merger, micro, networking, nonperforming, offer, opening, percent, premier, promissory, remediate, responsive, route, run, substantial, warehouse
Financial reports
10-Q
2021 Q2
Quarterly report
5 Feb 21
10-Q
2021 Q1
Quarterly report
6 Nov 20
10-K
2020 FY
Annual report
11 Sep 20
10-Q
2020 Q3
Quarterly report
24 Jun 20
10-Q
2020 Q2
Quarterly report
18 Feb 20
10-Q/A
2020 Q1
Quarterly report (amended)
18 Feb 20
NT 10-Q
Notice of late quarterly filing
11 Feb 20
10-K/A
2019 FY
Annual report (amended)
14 Nov 19
10-Q/A
2019 Q3
Quarterly report (amended)
14 Nov 19
10-Q/A
2019 Q2
Quarterly report (amended)
14 Nov 19
Current reports
8-K
Other Events
15 Apr 21
8-K
Amendments to Articles of Incorporation or Bylaws
2 Apr 21
8-K
Other Events
4 Mar 21
8-K
Entry into a Material Definitive Agreement
4 Mar 21
8-K
USA Technologies Announces $55 Million Common Stock Investment from Multiple Investors
25 Feb 21
8-K
Regulation FD Disclosure
17 Feb 21
8-K
USA Technologies Reports Second Quarter Fiscal Year 2021 Results
4 Feb 21
8-K
Departure of Directors or Certain Officers
25 Jan 21
8-K
Departure of Directors or Certain Officers
12 Jan 21
8-K
USA Technologies Announces Rebrand to Cantaloupe
18 Nov 20
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-1/A
IPO registration (amended)
21 May 18
S-1
IPO registration
9 May 18
Proxies
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
DFAN14A
Additional proxy materials by non-management
20 Apr 20
DEFA14A
Additional proxy soliciting materials
14 Apr 20
Other
EFFECT
Notice of effectiveness
15 Apr 21
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
CORRESP
Correspondence with SEC
16 Mar 20
UPLOAD
Letter from SEC
1 Dec 19
UPLOAD
Letter from SEC
18 Nov 19
UPLOAD
Letter from SEC
13 Nov 19
UPLOAD
Letter from SEC
4 Nov 19
Ownership
4
USA / Douglas L Braunstein ownership change
26 Feb 21
SC 13D/A
USA / Hudson Executive Capital ownership change
26 Feb 21
SC 13G/A
USA / ARDSLEY ADVISORY PARTNERS ownership change
12 Feb 21
SC 13G/A
USA / Oakland Hills BV ownership change
12 Jan 21
SC 13D/A
USA / Antara Capital ownership change
29 Dec 20
SC 13D/A
USA / Antara Capital ownership change
14 Dec 20
4
USA / James M Pollock ownership change
12 Nov 20
SC 13D/A
USA / Antara Capital ownership change
15 Oct 20
4
USA / Scott Matthew Stewart ownership change
22 Sep 20
3
USA / Scott Matthew Stewart ownership change
22 Sep 20