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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
CEO
Sean Feeney
Employees
Incorporated
Location
Fiscal year end
Former names
USA TECHNOLOGIES INC
SEC CIK
IRS number
232679963

USAT stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

5 Feb 21
18 Apr 21
30 Jun 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jun 20 Jun 19 Jun 17 Jun 16
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

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

Beta Read what these cash burn values mean

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

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 Prev Q Change
Total holders 97 12 +708.3%
Opened positions 85 1 +8400.0%
Closed positions 0 0
Increased positions 0 0
Reduced positions 5 5
13F shares
Current Prev Q Change
Total value 486.15M 134.97M +260.2%
Total shares 46.1M 15.42M +198.8%
Total puts 0 0
Total calls 1.44M 0 NEW
Total put/call ratio
Largest owners
Shares Value Change
Hudson Executive Capital 11.02M $115.5M 0.0%
Antara Capital 4M $45M NEW
Ardsley Advisory Partners 3.73M $39.04M NEW
Oakland Hills BV 3.53M $37.02M NEW
BEN Franklin Resources 2.43M $25.42M NEW
Cowen And 2.22M $23.3M NEW
Wasatch Advisors 1.71M $17.97M NEW
G2 Investment Partners Management 1.55M $16.19M NEW
Vanguard 1.52M $15.91M NEW
Hudson Bay Capital Management 1.33M $13.95M NEW
Largest transactions
Shares Bought/sold Change
Antara Capital 4M +4M NEW
Ardsley Advisory Partners 3.73M +3.73M NEW
Oakland Hills BV 3.53M +3.53M NEW
BEN Franklin Resources 2.43M +2.43M NEW
Cowen And 2.22M +2.22M NEW
Wasatch Advisors 1.71M +1.71M NEW
G2 Investment Partners Management 1.55M +1.55M NEW
Vanguard 1.52M +1.52M NEW
Hudson Bay Capital Management 1.33M +1.33M NEW
Nierenberg Investment Management 994.14K +994.14K NEW

Financial report summary

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Risks
  • 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.
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