Cantaloupe Inc (CTLPP) Q2 2025 Earnings Report

Cantaloupe Inc delivered a solid QQ2 2025 with revenue of $73.72 million, marking a 12.8% year-over-year increase and a 4.07% quarter-over-quarter uptick. The gross profit was $30.72 million, yielding a gross margin of 41.67%, while operating income reached $6.16 million for an 8.36% operating margin. EBITDA stood at $10.09 million (13.69% EBITDA margin), and net income was $4.97 million (net margin 6.75%), with diluted EPS of $0.0666. The company also generated positive operating cash flow of $0.52 million, but free cash flow remained negative at $(3.77) million, driven by a $(11.92) million change in working capital and ongoing capital expenditures of $(4.29) million. Cash and equivalents totaled $27.68 million at period-end, underpinning a solid liquidity profile alongside a debt position of $38.44 million and a net debt of $10.76 million.

Management reiterated a strategy focused on expanding the unattended retail payments ecosystem via integrated software and device solutions (ePort) and leveraging strategic partnerships (Bakkt and Castles Technology). While the top-line trajectory supports a positive longer-term view, near-term cash flow remains pressured by working capital dynamics and investment in growth initiatives. Investors should monitor the rate of device deployments, contract wins, and any shifts in capex intensity that could influence FCF generation and reinvestment capacity.