Cantaloupe delivered a solid QQ3 2024 performance with revenue of $67.9 million, up 13% year over year, driven by a 20% YoY increase in transaction revenue and a 7% YoY increase in subscription revenue. The quarter featured meaningful gross margin expansion to 39.6% from 37.9% a year ago, and Adjusted EBITDA of $10.2 million, signaling improved operating leverage as the company scales recurring revenue and optimizes COGS. Management highlighted strong international momentum, with Europe and Latin America deployments moving from pilots to scale, including a strategic Mexico partnership deploying close to 4,000 devices under Cantaloupe One. Despite subscription growth lagging initial expectations, management noted the combination of higher take rates, higher ticket sizes, and broader software attachment as the primary catalysts for margin and profitability improvement. For FY2024, the company tightened guidance and signaled that FY2025 would reflect continued progress in the two large growth vectors—international expansion and software monetization—along with ongoing cost discipline. The balance sheet remains cash-positive with roughly $50.2 million in cash and no material near-term debt obligations, supporting continued investment in growth initiatives and ecosystem partnerships.