CANTALOUPE, INC.CTLP

CANTALOUPE, INC. Segments Disclosure

10-KFiled Sep 8, 20252 min read
SEGMENT INFORMATION
The Company has one reportable segment, Cantaloupe, Inc. The business activities are managed on a consolidated basis. The types of software and services from which we generate revenue are described under our “Revenue Recognition” policy within Note 2 - Summary of Significant Accounting Policies.

Our chief operating decision maker, or CODM, is our Chief Executive Officer. The CODM assesses performance for the segment and decides how to allocate resources based on net income that is also reported on the Consolidated Statements of Operations as consolidated net income. The CODM does not use any segment asset measures to assess performance and decide how to allocate resources.
The following table sets out our measure of profit or loss and significant segment expenses:

Year ended June 30,
($ in thousands)202520242023
Revenue$302,548 $268,596 $243,641 
Segment expenses:
Costs of sales(178,724)(165,945)(162,405)
Compensation and benefits(50,065)(45,502)(38,476)
Rent, occupancy and insurance(4,474)(4,742)(4,051)
Professional services(11,455)(13,384)(22,828)
Subscription & cloud services(9,968)(8,264)(1,908)
Other general & administrative expenses(1)
(9,655)(6,021)(5,596)
Depreciation and amortization(15,877)(10,570)(7,618)
Other segment (benefits) expenses(2)
(148)(1,191)54 
Income tax benefit (expense)42,352 (985)(181)
Segment net income$64,533 $11,993 $633 
(1) Other general & administrative expenses include marketing, bad debt expense, office supplies, adjustments to sales and use tax reserves and other various selling, general and administrative expenses.
(2) Other segment expenses (benefits) include interest and other income and interest expense.

The Company has operations in the U.S., Mexico, and the U.K. The Company did not earn material revenue in any country other than the United States during the years ended June 30, 2025, 2024, and 2023.

Long-lived assets, excluding intangible assets, by location were not material other than the United States. Tangible long-lived assets consist of property and equipment and operating lease right-of-use assets.

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

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