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Cantaloupe Inc., a digital payments and software services company that provides end-to-end technology solutions for the unattended retail market, cut its revenue loss on a 33% revenue gain in the second quarter 2022 compared to the second quarter of the previous year, according to an earnings report Release.

  • Revenue increased by 33% from $38.28 million to $51.1 million in the comparative quarters.
  • The company’s net loss fell from $2.9 million to $468,000.
  • Basic and diluted loss per common share decreased from 4 cents to 1 cent.
  • Dollar transaction volumes increased by 31% to $555.3 million.
  • Subscription and transaction fees rose 24% to $41.2 million, while equipment sales jumped 95% to $9.9 million.
  • The number of active customers increased by 16%, from 18,304 in Q2 2021 to 21,315 in Q2 2022.
  • The number of active devices increased by approximately 4%, from 1.08 million to 1.12 million during the comparative quarters.
  • The company has shipped over 14,000 ePort Engage devices.

The shares traded at $7.45 on Thursday against a 52-week range of $7.25 to $13.25.

The $51.1 million in quarterly revenue beat analysts’ estimates of $2.46 million, while GAAP EPS of a loss of 1 cent beat expectations by one cent, according to Seeking Alpha.

“We delivered record revenue, growing 33% year-over-year, driven by a 24% increase in subscription and transaction fees and a 95% increase in equipment revenue versus in the second quarter of the prior year,” CEO Sean Feeney said in the press release. “We believe Cantaloupe will continue to benefit from industry tailwinds, such as payments digitization and innovation, and the continued adoption and growth of unattended retail.”

For the full year 2022, the company remains confident in its previously released guidance and continues to expect the following:

  • Revenue is expected to be between $200 million and $210 million, representing a 20-26% year-over-year increase.
  • The US GAAP net loss applicable to common stock will be between $7 million and $5 million.