Cantaloupe, Inc.

Good day. Thank you for standing by. Welcome to the Cantaloupe second quarter fiscal year 2022 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press star 1 on your telephone. Please be advised that today's conference is being recorded, and if you require any further assistance, please press star 0. I would like to hand the conference over to your speaker today,

Thank you and good afternoon, everyone. Welcome to the Cantaloupe Second Quarter Earnings Conference Call. With me on the call today is Sean Feeney, Chief Executive Officer, Ravi Venkatesan, Chief Operating Officer, and Wayne Jackson, Chief Financial Officer. Before we begin today's call, I would like to remind you that all statements included in this call, other than statements of historical facts, are forward-looking in nature. Actual results could differ materially from those contemplated by the forward-looking statements because of certain factors, including but not limited to business, financial markets, and economic conditions. A detailed discussion of the risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included with our filings with the SEC and in the press release issued earlier today. Listeners are cautioned to not take place to not place undue reliance on any such forward-looking statements which reflect management's view only as of the date they are made. Cantaloupe undertakes no obligation to update any forward-looking statements, whether because of new information, future events, or otherwise. This call will also include a discussion of certain non-GAAP financial measures that we believe are useful for, among other things, evaluating Cantaloupe's operating results. These Non-GAAP financial measures are supplemental to and not substitute for GAAP financial measures such as net income or loss. Details of these non-GAAP financial measures and a presentation of the most directly comparable GAAP financial measures and a reconciliation between these non-GAAP financial measures as well as the most comparable GAAP financial measures can be found in our press release issued this afternoon, which has been posted on the investor relations section of our website at www.cantaloupe.com. And with that, I would like to turn the call over to Chief Executive Officer Sean Feeney. Sean?

Good afternoon, and thank you for joining us today. We are pleased to report record revenue results for the quarter and confirm we are on track to deliver a strong year. Second quarter top-line revenue grew 33% year-over-year, driven by double-digit growth in all revenue categories. Equipment revenue led the way, with growth almost doubling compared to last year's Q2. Transaction revenue continued to rebound with 31% growth year-over-year, and subscription fees grew 13% year-over-year. This was the third quarter in a row that we posted double-digit top-line revenue growth compared to the equivalent quarters in in prior periods. A few other highlights from the quarter include a 31% in total dollar volumes, another record, and 16% year-over-year increase in active customers. In the second quarter, subscription and transaction fees grew 24%, a record for the third consecutive quarter. As evidenced by our results, our customers understand the value proposition of our products and services. We continue to be focused on enhancing our customer service as well as providing operators ways to engage their customers and optimize their businesses. We believe our existing customer base represents the largest opportunity to scale recurring revenue and connections. I'd like to share just a few of the examples of customer expansion from this quarter. Refreshing USA, A national independent vending operator purchased thousands of Newcastle's G10S devices from us during the quarter. Admiral Beverage, a Pepsi bottler, continued a theme we are seeing of converting acquired businesses to cantaloupe services and extending their agreements. And Continental Cafe purchased several thousand devices and will continue to expand seed software to their latest acquired company. A notable new customer win in the quarter was the addition of Larson Vendings, which purchased its first ePorts during Q2. To continue to build on our sales momentum, we recently brought in payment services veteran Jeff Dumbrow as chief revenue officer. Jeff comes to us with over 20 years of experience building and scaling high-performance sales organizations in payments and technology globally. During his time at Verifone, he served as executive vice president of Europe, Middle East, Africa, and Asia Pacific, where revenue more than doubled during his tenure. I believe Cantaloupe will benefit from his vast industry and international expertise and am confident he will continue our positive momentum, particularly outside of the United States. We've continued to make progress on building self-service capabilities and improving the customer experience across service delivery and support. Over the past 12 months, we've doubled the customer services team minimizing hold times and improving problem resolution times. We've automated certain customer service tasks, including device deactivation, transfers, and callbacks. As I am out visiting customers, I am hearing feedback that they are seeing results from our focus on improving customer service, which strengthens these relationships and leads to increased sales. We also continue to develop exciting new initiatives to enable our customers to increase revenue through new modes of payment and additional consumer engagement functionality, as well as new business tools for running a more efficient operation. I would like to turn the call over to Ravi Venkatasin, whose promotion to Chief Operating Officer was announced in today's earnings release. Ravi?