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Unattended payments and software specialist Cantaloupe Inc. boosted its roster of customers in its fiscal 2024 first quarter, which helped increase the company’s revenue to $62.7 million, up 8.5% from $57.8 million in the 2023 first quarter that ended Sept. 30.
Malvern, Pa.-based Cantaloupe said the number of active customers totaled 29,670 at the end of the first quarter, a 19% increase from 25,019 a year prior. Other factors in the revenue bump included an 18% rise in transaction fees and a 15% increase in subscription fees, which helped counter a 30% decrease in equipment sales. Cantaloupe sells card readers, self-service kiosks, small coolers that have their own point-of-sale capability, and self-serve store technology. The number of active devices on the Cantaloupe network increased to 1.19 million in the quarter, up 4% from 1.15 million a year ago.
Cantaloupe also markets a variety of software to help clients manage inventory, schedule routes, and provide real-time sales data.
Cantaloupe finished the quarter with a net income of $2 million, reversing an $8.6 million year-ago loss.
In related news, Repay Holdings Corp. posted third-quarter revenue of $74.3 million, a 3.8% increase from $71.6 million from the year-ago quarter. It recorded a loss of $6.5 million for the quarter, a retreat from a $5.8 million profit last year.
Still, Repay said there was more to its performance. “We continued to see stable and resilient trends from our clients throughout the quarter,” John Morris, Repay chief executive, said in a statement. “Our efforts in developing our go-to-market and implementation teams, as well as innovating on our payment technology, continue to be our top priorities.”
Atlanta-based Repay said its consumer-card payment volume totaled $5.3 billion in the quarter, up 8.2% from $4.9 billion in the same quarter a year ago. Repay’s business payment card volume, however, of $1.1 billion fell 26.7% from $1.5 billion in the year-ago quarter, leaving its overall card payment volume flat at $6.4 billion.
Repay highlights in the quarter included a 50% year-over-year increase in instant funding transaction volumes and a 16% rise in the number of client credit unions, to 266.
