USA Technologies Announces Third Quarter Fiscal Year 2017 Results

Achieved $100 Million Revenue Run-Rate, and 500,000 Connection Goals 

MALVERN, Pa.--(BUSINESS WIRE)-- USA Technologies, Inc. (NASDAQ:USAT) ("USAT"), a premier payment technology service provider of integrated cashless and mobile transactions in the self-service retail market, today reported results for its third quarter ended March 31, 2017. 

Third Quarter Financial Highlights: 

• Total quarterly record revenue of $26.5 million, a year-over-year increase of 30% marking the 30th consecutive quarter of growth 
• 504,000 connections to ePort service, representing a year-over-year increase of 26% 
• Added 500 customers to achieve record 12,400 total customers compared to 10,750 as of a year ago, a year-over-year increase of 15% 
• Quarterly record license and transaction fee revenue of $17.5 million, a year-over-year increase of 19% 
• Operating income of $419,000 
• Ended the quarter with $17.8 million in cash 
• Quarterly GAAP net income of $136,000 
• Quarterly Non-GAAP net income of $345,000 
• Quarterly Adjusted EBITDA of $1.9 million 

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