Cantaloupe Inc (NASDAQ: CTLP) is a self-service commerce technology company that provides cashless payment devices, software platforms, and self-checkout kiosks for unattended retail and micro-market operators. Revenue comes from a combination of hardware sales or subscriptions, transaction processing fees, and software-as-a-service subscriptions tied to its Seed platform. The company serves vending operators, micro-market operators, amusement and entertainment venues, and food service providers primarily in the United States and Canada, with some international presence. For FY2025 (year ended June 30, 2025), Cantaloupe reported net income of $64.5 million and cash from operating activities of $20.3 million, with $51.1 million in cash on hand as of June 30, 2025. On June 15, 2025, the company entered into a merger agreement to be acquired by 365 Retail Markets in an all-cash transaction at $11.20 per share. Shareholders approved the merger on September 4, 2025, and upon closing Cantaloupe will cease to be publicly traded. CEO Ravi Venkatesan has led the company since 2022.

Revenue model

Three-part revenue model: hardware sales, finance arrangements, or subscriptions through the Cantaloupe ONE Platform; recurring software subscription fees for the Seed, Cantaloupe Go Portal, and Cheq platforms; and transaction processing fees tied to payment volume processed through its cashless payment devices at unattended points of sale.

Products and services

Hardware: G11 Cashless Kit, G11 Pulse Kit, G11 Chip Kit (4G LTE cashless payment devices for vending); Engage Series (amusement and entertainment payment devices); Cantaloupe Go kiosk line including Go Plus200, Go Plus300, and Go Max (self-checkout kiosks for micro-markets). Software: Seed platform (cloud-based vending management, inventory, telemetry, remote price change, e-commerce integration); Cantaloupe Go Portal (micro-market management and kiosk performance); Cheq platform (point-of-sale for events and venues).

Customers and end markets

Operators of unattended retail (vending machines, micro-markets, smart coolers), amusement and entertainment venues, event and stadium food service operators, and government or military locations. Customer base includes many small businesses operating on tight margins, per FY2025 10-K risk factor disclosures.

Value-chain role

Cantaloupe sits at the intersection of payment processing and unattended retail operations technology, supplying both the physical payment and kiosk hardware and the cloud software layer that manages inventory, pricing, transactions, and consumer engagement for operators. It processes payments through partnerships with First Data Merchant Services, Wells Fargo Bank, and Pathward, N.A.

Geographic exposure

Primarily United States and Canada for hardware devices. The company references international operations and emerging market exposure as a risk factor in its FY2025 10-K, but specific international revenue breakdown is not provided in the available excerpts.

Source: SEC 10-K, filed 2025-09-08

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