PA-based small-ticket, self-serve specialist, USA Technologies (USAT), posted fourth calendar quarter (4Q/15) total revenue of $18.5 million, a year-over-year (YOY) increase of 44.5%. Net income sunk to a net loss of $874,000 in 4Q/15.
At the end of the fourth quarter USAT had 369,000 connections, up 28% YOY. In 3Q/15 USAT reported 349,000 connections and 288,000 connections for 4Q/14.
The number of transactions hit 76 million in 4Q/15, a 49% increase YOY. In 3Q/15 USAT reported 69 million and 51 million for 4Q/14.
Transaction dollar volume jumped 45% YOY to $138.0 million for 4Q/15. USAT reported $126.4 million for the prior quarter, and $89.3 million for the year ago quarter.
USAT posted a record number of customers of 10,275 for 4Q/15, compared to 10,275 for 3Q/15 and 8,450 for 4Q/14.
USAT expects for full fiscal year 2016, 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.
4Q/14: $12.8 million
1Q/15: $15.4 million
2Q/15: $17.6 million
3Q/15: $16.6 million
4Q/15: $18.5 million
) 2Q/15: $69,000
4Q/14: $51.0 million
1Q/15: $54.8 million
2Q/15: $62.0 million
3Q/15: $68.8 million
4Q/15: $76.0 million
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