Cantaloupe Inc. lifted its Q2 2024 sales and earnings, driven by higher subscription and transaction fees, according to an earnings report. Highlights include:

  • Revenues rose 7% from $61.33 million in Q2 2023 to $65.4 million in the quarter ending Dec. 31, 2023, driven by 15% growth in subscription and transaction fees.
  • Net income improved from a $573,000 loss to a $3.1 million gain in the comparative quarters.
  • Net earnings improved from a one-cent loss to a 4-cent gain on both a basic and diluted basis.
  • Transaction fees rose 17% to $37.9 million.
  • Subscription fees rose 10% to $18.1 million.
  • Equipment sales rose 25% to $9.3 million.
  • Dollar transaction volume rose 12% to $730.1 million.
  • Transactions totaled 286.7 million.
  • Average revenue per device rose from $160.4 to $181.91.

Shares traded at $6.80 Thursday against a 52-week range of $4.85 to $8.29.

"In the second quarter, we continued to execute on our strategy of expanding operating leverage and driving strong profitability," CEO Ravi Venkatesan said in the press release. "Our domestic and international pipeline is robust, driven by our go-to-market strategy and extensive product offering."

For fiscal 2024, the company reiterated the following:

  • Total revenue between $275 million and $285 million.
  • The combination of subscription and transaction fees between $234 million and $242 million.
  • Total net income between $9 million and $15 million.

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