Cantalope Inc Down 5.51% To $6.43 After Earnings Beat

Cantalope Inc (CTLP) said after close Thursday that it earned $0.04 per share in quarter two 2024.

On the revenue line, the company reported $65.4 million, missing estimates by $1.6 million.

In the same quarter a year ago, the company earned $0.03 per share on revenue of $61.3 million.

The stock is down 5.51% to $6.43 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Cantalope Inc a Bullish Sentiment Rank from InvestorsObserver.

Cantalope Inc has performed a little above average during the past few months. Before the report, Cantalope Inc received a Long-Term Technical Rank by InvestorsObserver of 61, putting it in the top half of stocks. The firm set a 52-week high on July 19, 2023 at $8.29 and set a 52-week low on February 10, 2023 at $4.85.

Cantaloupe Inc, formerly USA Technologies Inc operates in the small ticket electronic payments industry. It provides wireless, cashless, micro-transactions, and networking services within the unattended Point of Sale (POS) market. Its products and services portfolio consists of ePort Connect, ePort Cashless Hardware, eSuds, EnergyMisers, and Value-added services which include Loyalty and Prepaid, Intelligent Vending, and Two-Tier Pricing Program. The company offers services to different industries covering car wash, taxi and transportation, laundry, vending, kiosk, amusement, and arcade.