Inflation and Sustained High Interest Rates: Elevated US inflation (3.3%) and central banks maintaining 'Higher for Longer' rates increase Cantaloupe's borrowing costs and may temper consumer discretionary spending on unattended retail services, impacting transaction volumes and overall profitability.

Consumer Spending Trends Amid Geopolitical Uncertainty: The company's revenue is tied to consumer transactions in self-service commerce. Geopolitical tensions, such as the Iran War escalation and Strait of Hormuz closure, could lead to economic uncertainty, potentially reducing consumer confidence and spending, thereby affecting Cantaloupe's transaction volumes.

Continued Digital Transformation and Contactless Payment Adoption: Cantaloupe benefits from the ongoing global shift towards cashless payments and digital management in retail. The accelerating adoption of IoT and contactless payment solutions, driven by convenience and hygiene, serves as a significant tailwind for the company's core business model.