USA Technologies Inc. predicts it will have 100,000 devices linked to its network by yearend.
The provider of wireless payment acceptance announced Nov. 10 that it had 88,000 vending machines and other devices connected as of Sept. 30.
Revenue for its first fiscal quarter, which ended Sept. 30, rose 15.8% from a year earlier, to $4.4 million. It had a net loss for the quarter of $1.9 million, an improvement from the $2.9 million loss a year earlier.
USA Technologies said it has an annualized run rate of more than $100 million in cashless payment volume. It processed 13.9 million cashless transactions, 89% more than a year earlier. Its processing volume grew 68%, to $24.5 million.
The Malvern, Pa., company had 1,200 customers at the end of the quarter, double the total from a year earlier, it said.
