USA Technologies, Inc. of Malvern is expecting revenue for fiscal year 2015 to be in the range of $51 to $53 million, 20 to 26 percent higher.
“We believe that the self-serve retail industry is in the midst of a significant transition toward the cashless and mobile solutions we pioneered and have been investing in for more than a decade,” said Stephen P. Herbert, chairman and chief executive officer.
The firm says it has an agreement on with an equipment leasing company to finance its QuickStart program – a five year, non-cancellable lease program relating to its ePort hardware.
Under the agreement, the leasing company may buy USAT’s cashless ePort hardware and, in turn, lease the equipment directly to USAT’s customers. Historically, USAT has utilized its own cash resources in connection with the QuickStart Program.
“If successful, our third party leasing program for the QuickStart Program would result in improved cash flows from operations and benefit the balance sheet. As our products and services increasingly gain traction, we continue to drive recurring revenue and the fundamentals of our business.”
Read the full financial report here.
