Cantaloupe reports Q3 EPS 6c, consensus 4c

Reports Q3 revenue $67.9M, consensus $69.82M. Total Dollar Volumes of Transactions were $767.4 million, an increase of 17.4% year over year. Transactions totaled 283.3 million at the end of the third quarter of 2024. “In the third quarter, we reported strong results, reflecting our continued expansion of operating leverage by driving revenue growth while also optimizing COGS and controlling operational expenses. While subscription revenue has grown slower than anticipated, transaction revenue growth is exceeding expectations and achieving higher profitability rates sooner,” said Ravi Venkatesan, CEO, Cantaloupe. “We continue to expand our footprint domestically and internationally, and are pleased to now have sold thousands of devices across Latin America and Europe. The significant rise in cashless and touchless payments, along with the growth of micro markets, in the convenience industry are strong secular tailwinds that validate the long-term opportunity of Cantaloupe and will continue to drive our business for years to come.”