USA Technologies (USAT) reported total third quarter revenue of $16.6 million, a year-over-year increase of 35%. During the quarter USAT plugged in 349,000 connections to ePort service, a year-over-year increase of 26%.
Also, record 10,275 customers compared to 7,900 in the same quarter last year; record license and transaction fee revenue of $12.9 million, a year-over-year increase of 27%; and license and transaction fees gross margins increased to 33% from 29% in the prior year.
For full year fiscal 2016, management expects to add more than 75,000 net new connections , bringing total connections on the service to over 400,000 and expects total revenue to be between $69 million and $71 million.
USA is a specialist in wireless, cashless payment and M2M/IoT solutions for small-ticket, and self-serve retailing industries.
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