- 25% increase in total revenues to $8.4 million;
- 53% increase in gross profit to $3.1 million;
- 27% increase in license and transaction fee revenues (“recurring revenues”) to $6.9 million, representing 82% of total revenues for the quarter;
- 174,000 total connections to its ePort Connect® service, a 35% increase from 129,000 connections as of September 30, 2011, with 10,000 net new connections added in the first quarter of Fiscal 2013;
- 3,725 total customers, a 64% increase from 2,275, with 450 new customers in the first quarter;
- Adjusted EBITDA of $730,707, up from ($760,088);
- GAAP net income of $39,140, up from ($78,954); and non-GAAP net loss of ($95,993) from ($1,815,563) in the same quarter a year ago.
USA Technologies, Inc. (NASDAQ: USAT), (“USAT”), a leader of wireless, cashless payment and M2M telemetry solutions for self-serve, small-ticket retail industries, today reported results for the first quarter of Fiscal 2013 ended September 30, 2012. First quarter highlights, compared to the corresponding quarter of the prior fiscal year, included: