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Cantaloupe (NASDAQ:CTLP) stock advanced 3.1% in Thursday after-hours trading as the digital payments and software services firm’s fiscal Q4 2022 earnings came in mixed, and it raised its outlooks in full-year revenue as well as adjusted EBITDA.
The company is expecting 2023 revenue to be $225M-235M, compared with the consensus of $229.3M, and $200M-210M in the prior target.
Adjusted EBITDA is anticipated to be $10M-15M in 2023 vs. $8.5M-10.5M in the previous guidance.
For its fourth quarter, Cantaloupe’s (CTLP) EPS of -$0.03 missed the consensus of -$0.01 and slid from $0.04 in the year-ago period.
Q4 revenue of $58M, though, marked a record high for the company’s quarterly revenue. It surpassed the average analyst estimate of $56.3M and rose from $49.02M a year before, helped by subscription and transaction fees.
Operating expenses were $19.21M at the end of June, up from $15.25M at June 30, 2021.
Adjusted EBITDA for Q4 drifted down to $2.0M from $5.0M in the prior year period, which benefited from a $2.9 million adjustment to a sales tax reserve due to a state law change.
Earlier, Cantaloupe’s chief operating officer to become CEO in October.
Image and article originally from seekingalpha.com. Read the original article here.