Cantaloupe(US:CTLP)2024-05-09 21:01Revenue Composition and Trends - Subscription and transaction fees accounted for 87% of revenue in Q1 2024, up from 85% in Q1 2023, while equipment sales decreased to 13% from 15%[133] Deferred Revenue and Performance Obligations - Deferred revenue at the end of Q1 2024 was $1.893 million, slightly down from $1.894 million in Q1 2023[139] - Revenue recognized from deferred revenue in Q1 2024 was $268,000, a significant increase from $94,000 in Q1 2023[139] - Future performance obligations for the remainder of fiscal year 2024 are $1.520 million, with $5.941 million for 2025 and $3.793 million for 2026[142] Amortization and Capitalized Costs - Amortization of capitalized contract costs was $0.2 million for Q1 2024, consistent with Q1 2023[143] Stock Options and Restricted Stock Awards - The company granted 175,000 stock options in the nine months ended March 31, 2024, with a weighted average exercise price of $6.92[145] - Total expense recognized for restricted stock awards was $0.5 million for Q1 2024, up from $0.3 million in Q1 2023[149] Net Income and Earnings Per Share - Net income applicable to common shareholders was $9.209 million for Q1 2024, a significant improvement from a net loss of $2.822 million in Q1 2023[153] - Basic earnings per share for Q1 2024 were $0.13, compared to a loss of $0.04 per share in Q1 2023[153] Insurance Settlement - The company agreed to a net settlement of approximately $1.5 million with a third-party insurance carrier, to be recognized as a gain in Q4 2024[159]