Cantaloupe Inc.'s revenue decreased 0.8% from $43.09 million in $Q3 2020 to $42.8 million for the quarter ending March 31, 2021, according to an earnings release. The Q3 2021 revenue marked an 11.7% increase over Q2 2021.

The company improved from a $9.3 million loss in Q3 2020 to a $1.8 million loss in Q3 2021.

Net loss per common share improved from 15 cents in Q3 2020 to a 3-cent loss in Q3 2021, on both a basic and diluted basis.

The $42.8 million in revenue beat analyst expectations by $1.3 million while the GAAP EPS of a 3-cent loss beat expectations by 2 cents, according to Seeking Alpha.

Shares traded at $9.92 Thursday against a 52-week range of $7.75-$12.99.

License and transaction fee revenue decreased 0.6% from $34.9 million in Q3 2020 to $34.7 million in Q3 2021, but increased 4.4% over Q2 2021.

Equipment revenue decreased 0.8% from Q3 2020 but increased 59.2% (8.1 million) over Q2 2021.

Active devices, defined as devices that have communicated or transacted with the company in the last 12 months, totaled 1.08 million at the end of the third quarter of 2021 compared to 1.05 million at the end of the third quarter of 2020, an increase of approximately 30,000 active devices, or 3%.

Active customers, defined as customers that have at least one active device, totaled 18,763 at the end of the third quarter of 2021 compared to 16,808 at the end of the third quarter of 2020, an increase of 1,955 active customers, or 12%.

"We are pleased with our financial results for the third fiscal quarter, which improved sequentially as schools and other organizations across the country continue to re-open," Sean Feeney, chief executive officer, said in the press release. "The successful rebrand to Cantaloupe has re-energized us as we emerge from the pandemic and set forth on a path to growth and future successes as we help the world buy it and go."

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