Cantaloupe Inc (NASDAQ:CTLP), a global leading provider of end-to-end technology solutions for self-service commerce, stock fell 5.95% (As on September 11, 11:32:50 AM UTC-4, Source: Google Finance) after the company posted lower than expected results for the fourth quarter of FY 24. Active Customers totaled 31,466 at the end of the fourth quarter of 2024 compared to 28,584 at the end of the fourth quarter of 2023, an increase of 10.1%. Active Devices totaled 1.22 million at the end of the fourth quarter of 2024 compared to 1.17 million at the end of the fourth quarter of 2023, an increase of 4.7%. Net income applicable to common shares of $2.2 million, compared to net income applicable to common shares of $2.8 million, in the prior year quarter. Adjusted EBITDA of $7.5 million compared to $9.2 million in fourth quarter of fiscal year 2023, a decrease of 19.0%.

Moreover, in the fourth quarter, Transaction fees was of $41.2 million, an increase of 16.0%, Subscription fees was of $19.9 million, an increase of 14.1% and Equipment sales of $11.5 million, an increase of 2.9%. Total dollar volumes of transactions were $815.7 million, an increase of 15.9% compared to fourth quarter of fiscal year 2023. Transaction volume totaled 290.4 million, an increase of 4.2%, compared to 278.6 million for fourth quarter fiscal year 2023. Adjusted Gross Margin of 37.3% compared with 40.1% in fourth quarter fiscal 2023. Subscription and transaction fees Adjusted Gross Margin declined to 43.0% compared to 44.2%. Equipment sales gross margins declined to 7.2% compared to 20.8%.

CTLP in the fourth quarter of FY 24 has reported the adjusted earnings per share of 3 cents, missing the analysts’ estimates for the adjusted earnings per share of 5 cents, according to Zacks Investment Research. The company had reported the adjusted revenue growth of 13.2 percent to $72.7 million in the fourth quarter of FY 24, beating the analysts’ estimates for revenue of $76.1 million.

For the full fiscal year 2025, the Company expects total revenue to be between $308 million and $322 million, the combination of Subscription and Transaction revenue growth to be in the range of 15%-20%, Total US GAAP net income applicable to common shares to be between $22 million and $32 million, Adjusted EBITDA to be between $44 million and $52 million and Total Operating Cash Flow to be between $24 million and $32 million.