USA Technologies, Inc. (NASDAQ: USAT) gained strength on stock markets Monday as the company issued a strong sales forecast. USA Technologies also disclosed that it has filed for a $35-million offering.
The company, a premier payment technology service provider of integrated cashless and mobile transactions in the self-service retail market, today announced preliminary estimated financial results for the fiscal year ended June 30, 2017.
Estimates for the full fiscal year include revenues of between $102 million to $104 million, representing an increase of between 32% to 34% over revenues during the company’s fiscal year ended June 30, 2016
Net loss is projected between $(2.5) million to $(1.7) million representing an improvement of between 63% to 75% over net loss for the company’s fiscal year ended June 30, 2016.
During the fiscal year ended June 30, 2017, the company estimates that approximately 66% of its revenues consisted of license and transaction fees and approximately 34% of its revenues consisted of equipment sales.
The company also provides a broad line of cashless acceptance technologies including its NFC-ready ePort® G-series, ePort® Connect, ePort® Interactive, QuickConnect, an API Web service for developers, and MORE., a customizable loyalty program. USA Technologies has 73 United States and foreign patents in force; and has agreements with Verizon, Visa, Chase Paymentech and customers such as Compass, AMI Entertainment and others.
The share price galloped 28 cents, or 5.6%, to $5.18, within a 52-week trading range of $3.55 to $5.81.
