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Dec 31, 2020
Cantaloupe Q2 2021 Earnings Report
USA Technologies reported an increase in revenue compared to the previous quarter and a decrease in operating expenses.
Key Takeaways
USA Technologies reported a revenue of $38.3 million, a 3.8% increase compared to the first quarter of 2021, and an operating loss of $(2.6) million, a significant improvement compared to the second quarter of 2020. The company is making strides in right sizing the cost structure, reporting a 28% decrease in operating expenses for the quarter when compared to FY Q2 20.
Revenue increased 3.8% compared to the first quarter 2021.
Operating loss improved significantly compared to the second quarter 2020.
Active devices totaled 1,154,932 connections.
Active customers totaled 18,304.
Cantaloupe
Cantaloupe
Cantaloupe Revenue by Segment
Revenue by Segment
Equipment Sales Revenue
CapyFin.com Forward Guidance
The company revised its FY2021 revenue guidance to be between $163 million and $171 million, net loss applicable to common shares to be between $(21) million and $(17) million, and now expects Adjusted EBITDA to be between $1 million and $4 million.
Challenges Ahead
- The impact of the pandemic continues to be a challenge.
- There are headwinds on transaction and equipment revenue.
- Expectations on when the virus will have less of an impact on our market and business have been pushed out.
- FY2021 revenue guidance was revised down from a range of $170 million to $180 million to a range of $163 million and $171 million.
- Net loss applicable to common shares was revised down from $(14.1) million and $(11.1) million to between $(21) million and $(17) million.