USA Technologies (NASDAQ: USAT) reported Q1 EPS of ($0.01), $0.02 worse than the analyst estimate of $0.01. Revenue for the quarter came in at $16.6 million versus the consensus estimate of $15.03 million.

“The growing number of transactions and transaction volume, in addition to the growing number of USAT customers, indicate that we are capitalizing on the cashless payment trend and delivering on our strategic initiatives,” said Stephen P. Herbert, USA Technologies’ chairman and chief executive officer. “Many of our largest customers are moving to connect 100% of their machines to USAT’s ePort Connect technology incentivized by our Premium Support Service, the latest product offering which provides customers with a cross-functional service model to realize the impact of USAT’s ePort Connect technology on their business, including increased awareness and accelerated adoption of cashless payments.”

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