Why Cantaloupe Shares Are Trading Higher Today?

Cantaloupe CTLP shares are trading higher after the company reported better-than-expected Q2 sales results.

Cantaloupe reported quarterly losses of $(0.01) per share which met the analyst consensus estimate. This is unchanged from the same period last year. The company reported quarterly sales of $61.33 million which beat the analyst consensus estimate of $58.79 million by 4.32 percent. This is a 20.04 percent increase over sales of $51.09 million the same period last year.

Below is the outlook for fiscal year 2023:

• Revenue to be between $240 million and $250 million
• U.S. GAAP Net income to be between $(2) million and $3 million
• Adjusted EBITDA1 to be between $12 million and $17 million
• Total Operating Cash Flow to be between $10 million and $15 million

Cantaloupe Inc is a software and payments company that provides end-to-end technology solutions for self-service commerce.

CTLP Price Action: Cantaloupe has a 52-week high of $8.24 and a 52-week low of $2.77.

Cantaloupe shares are up 11.2% at $5.73 at time of publication, according to Benzinga Pro.