Latest news with #ScottStewart
Yahoo
09-05-2025
- Business
- Yahoo
Cantaloupe Inc (CTLP) Q3 2025 Earnings Call Highlights: Revenue Growth and Smart Store Success ...
Release Date: May 08, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Cantaloupe Inc (NASDAQ:CTLP) reported an 11% year-over-year increase in total revenue for Q3 2025, reaching $75.4 million. The company achieved a 37% increase in adjusted EBITDA, amounting to $13.9 million, reflecting successful margin expansion and operating leverage. Cantaloupe Inc (NASDAQ:CTLP) experienced strong cash generation, with $22.4 million in cash from operating activities during the quarter. The company saw significant growth in its smart store product, with over $2 million in shipments, indicating strong demand in new verticals. Cantaloupe Inc (NASDAQ:CTLP) released a $42.2 million valuation allowance on deferred tax assets, contributing to a net income of $48.9 million for the quarter. Revenue was lower than anticipated due to one-time weather events impacting transaction revenue and delays in equipment purchases. Transaction revenue was materially impacted by adverse weather events, leading to abnormally low traffic in customer locations. There was a pullback in large equipment purchases due to economic uncertainty, affecting sales in the quarter. The company faced supply constraints for its smart store product, limiting its ability to meet demand. International revenue remains a small portion of total revenue, expected to be only 3-4% by the end of fiscal year 2025. Warning! GuruFocus has detected 3 Warning Signs with CTLP. Q: Can you quantify the weather impact on transaction revenue for the quarter? A: Yes, the weather impact was approximately $2 million, mostly in January and a little in February. - Scott Stewart, CFO Q: What are the early indications of demand for the smart store product, and do you expect it to ramp up quickly? A: We are already seeing a ramp-up in the fourth quarter. The smart store is our hottest selling product, with significant interest at industry conferences. We expect it to translate into strong fourth-quarter equipment revenue. - Ravi Venkates, CEO Q: Can you provide updates on your progress in Europe and Latin America? A: We have exciting updates, but it's premature to share them. Scaling is continuing with large customers and in the SMB space. Expect releases soon. - Ravi Venkates, CEO Q: How does the revenue opportunity compare between traditional vending, smart stores, and other verticals? A: Vending will grow 5-6%, micro markets 30-40%, and smart stores and related technologies could grow 100-200% in the next 2-3 years, becoming a significant market share. - Ravi Venkates, CEO Q: What do you expect international revenue to be as a percentage by the end of the year? A: We anticipate international revenue to be 3-4% as we exit the fourth quarter of fiscal year 2025, with continued growth expected in FY26. - Scott Stewart, CFO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Miami Herald
03-03-2025
- Miami Herald
Deputy confronts free-roaming boa constrictor during truck search, Florida cops say
A truck search in Florida turned strange when deputies discovered their suspect had a live boa constrictor slithering freely in his pickup, investigators say. Both the driver and the snake ended up in custody, the Brevard County Sheriff's Office said in a March 1 news release. It happened Thursday, Feb. 27, when Cpl. Scott Stewart and Cpl. Bridgette Johnson responded to reports of a man dumping items into a creek on Merritt Island, officials said. 'They observed this guy ... actively dumping waste from a large open-top trailer that he had backed up alongside of the Sykes Creek waterway,' the sheriff's office said. 'Things took an unexpected turn ... as the deputies went to complete an inventory of his vehicle (and) Cpl. Stewart discovered a juvenile Rainbow Boa Constrictor, just hanging out on the passenger seat.' Rainbow boa constrictors are native to Central and South America and can reach more than 6 feet in length, experts say. Details of how the deputy reacted to the discovery were not released, but a county Animal Services Unit was called to handle the capture, officials said. The snake is a pet owned by the 46-year-old suspect, who was arrested and charged with one felony count of dumping raw human waste in excess of 500 pounds, the sheriff's office said. The fate of the boa constrictor was not revealed. Merritt Island is about a 55-mile drive southeast from Orlando.
Yahoo
07-02-2025
- Business
- Yahoo
Cantaloupe Inc (CTLP) Q2 2025 Earnings Call Highlights: Strong Revenue Growth and Margin Expansion
Total Revenue: $73.7 million, up 13% year over year. Transaction Revenue: $44.4 million, an increase of 17% year over year. Subscription Revenue: $20.7 million, a 14% increase year over year. Adjusted Gross Margin: 41.7%, up from 37.2% in the prior year. Adjusted EBITDA: $10.7 million, a 26% increase from the previous year. Net Income: $5 million, or $0.07 earnings per share. Cash and Cash Equivalents: $27.7 million at the end of the quarter. Active Customers: Over 32,000, a 10% increase year over year. Active Devices: 1.3 million, a 4% increase year over year. Average Revenue Per Unit (RPO): $202, up 12% from the prior year period. Equipment Revenue: $8.6 million, a decrease of 7% year over year. Total Operating Expenses: $24.5 million, up from $20.7 million in the prior year. Fiscal Year 2025 Revenue Guidance: $308 to $322 million, representing 15% to 20% growth. Fiscal Year 2025 Adjusted EBITDA Guidance: $44 million to $52 million. Fiscal Year 2025 Operating Cash Flow Guidance: $24 million to $32 million. Warning! GuruFocus has detected 4 Warning Signs with CTLP. Release Date: February 06, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Cantaloupe Inc (NASDAQ:CTLP) reported a 13% year-over-year increase in total revenue for Q2, reaching $73.7 million. Transaction revenue grew by 17% and subscription revenue by 14% year-over-year, indicating strong performance in these segments. The company achieved a total adjusted gross margin of 41.7%, up from 37.2% in the same quarter last year. Adjusted EBITDA increased by 26% year-over-year, reflecting successful expansion of operating leverage. Cantaloupe Inc (NASDAQ:CTLP) continues to see strong growth in micro markets and penetration of seed software with both existing and new customers. Equipment revenue decreased by 7% compared to Q2 FY24, indicating potential challenges in this segment. Total operating expenses increased to $24.5 million from $20.7 million in Q2 FY24, largely due to expenses from recent acquisitions. The cash balance decreased compared to the year-end balance as of June 30, 2024, due to timing of payments for transaction processing. The international business mix remains under 5%, suggesting limited growth in international markets. The guidance range for total revenue is relatively wide, indicating uncertainty in achieving the higher end of the forecast. Q: Can you discuss the evolution of your average revenue per unit and how your business mix is changing? A: Scott Stewart, CFO: We've seen significant growth in transaction processing, with average ticket sizes increasing. At our Investor Day in December 2022, we projected that if a customer purchased every product at list price, revenue could reach $400 per unit. This remains true, with potential for further increase due to new software releases and strategic sales targeting high-revenue locations. Q: Any updates on your international strategy and current business mix between the US and international markets? A: Ravi Venkatesan, CEO: We are progressing well internationally, particularly in Latin America, where we've focused on robust deployments to maximize transactions. Our international business mix remains under 5%, but we expect acceleration as we execute our second-half priorities. Q: How does the new micro-lending service through Cantaloupe Capital work, and are you holding any of the loans? A: Ravi Venkatesan, CEO: We do not hold or underwrite the loans. The service is offered through a partner, providing a convenient way for customers to secure loans via our platform. This initiative aims to alleviate capital constraints for our customers, enabling them to expand their business without us being financially liable. Q: What are the key growth drivers for Cantaloupe, particularly regarding micro markets and smart stores? A: Ravi Venkatesan, CEO: Growth is driven by expanded micro market footprints, smart store products, and strategic location placements. We're also seeing increased transaction values from new location types like universities and hospitals, contributing to higher average revenue per unit. Q: Is the improvement in subscription and transaction gross margins sustainable? A: Scott Stewart, CFO: Yes, we believe the current margin levels are sustainable. We've seen an increase in our take rate and continue to benefit from cost reduction measures and improved transaction routing. The higher average ticket price also supports margin improvements. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
