- USA Technologies (USAT +13%) is near a 52-week high of $3.71 after posting an FQ2 beat. The mobile payments/telemetry services firm is once more reiterating FY16 (ends June '16) guidance for revenue of $69M-$71M and 75K+ net new connection adds; the FY16 revenue consensus is at $71.5M.
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Metrics: 20K net new connections were added in FQ2 vs. 16K in FQ1 and 12K a year ago, bringing the total base to 369K. 350 new customers were added vs. 675 in FQ1 and 550 a year ago, increasing the base to 10,625. Transaction volume rose 9% Q/Q and 22% Y/Y to $138M.
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Financials: Free cash flow improved to $507K from $362K in FQ1 and -$3M a year ago. License/transaction fee revenue rose 30% Y/Y to $13.7M, and equipment sales 106% to $4.8M; gross margins for both businesses rose. GAAP operating expenses rose 31% Y/Y to $9.8M. USAT ended 2015 with $14.8M in cash, $7M in credit line debt, and $2.1M in long-term debt.
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USA Technologies' FQ2 results, earnings release
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Last month: USAT buys assets of vending payment tech firm for $5.6M