POSaBIT 2022 Üçüncü Çeyrek Finansal Sonuçlarını Açıkladı

Revenue of $10.3 Million; Up 62% Year-over-Year and 26% Sequentially

Raises 2022 Gross Profit Guidance to $10.0 – $10.5 million

Reiterates 2022 Revenue Guidance of $37.0 – $40.0 million

Reiterates 2023 expectation for positive EBITDA

NOTE: All figures in this press release are in U.S. dollars unless otherwise noted.

TORONTO & SEATTLE–(BUSINESS WIRE)–POSaBIT Systems Corporation (“POSaBIT” or the “Company”) (CSE: PBIT, OTC: POSAF), a leading provider of payments infrastructure in the cannabis industry, today announced its financial results for the three and nine months ended September 30, 2022.

“The third quarter was very strong with a 26% sequential increase in revenue, making it the first time we have had a $10+ million quarter. We continue to expand our commercial footprint and announced several strategic new partnerships this quarter that validate the strength of our platform,” said Ryan Hamlin, CEO and Co-founder of POSaBIT.

Hamlin commented, “We continued to onboard new merchants at record levels and secured a royalty licensing agreement for our point-of-sale software that will generate recurring guaranteed revenue of at least $20 million at virtually 100% margin over the next four years. Contrary to many in our industry and the current economic climate, our business is growing at an increased pace, our sales funnel is full, and our balance sheet is as strong as it’s ever been. We are increasingly optimistic about the long-term prospects for our business and are raising our 2022 gross profit guidance to $10.0 – $10.5 million, reiterating our revenue guidance of $37 to $40 million for the year and reiterating our prior statement that we expect positive Adjusted EBITDA in 2023.”

Son Operasyonel Önemli Noktalar

• As previously announced, signed a four-year royalty licensing agreement with a large cannabis technology provider, for guaranteed minimum revenue of $20 million at virtually 100% margin
• Recently announced Vermont as the newest state added and live for POSaBIT
• On track to exceed target of entering eight new states in 2022 with the launch of operations in New Jersey, Connecticut and Ohio, three new states under contract and expected to ‘go live’ before year-end, bringing POSaBIT to 10 new states in 2022.
• Launched POSaBIT 2.0, a new, fully redesigned version of POSaBIT’s point-of-sale client
• Completed integration of POSaBIT’s platform with Onfleet (the largest cannabis delivery company) to provide real-time status of cannabis deliveries to consumers
• Onboarded over 50 new payment and point of sale merchant locations in Q3
• Ongoing discussions with over 200 potential payment and point of sale merchant locations
• Cash and cash equivalents were $8.2 million on September 30, 2022

2022 Üçüncü Çeyrek Finansal Göstergeler

• Total revenue was $10.3 million, up 62% compared with $6.4 million in the third quarter of 2021
• Transactional sales for payment services totaled $142.6 million, resulting in an annual run-rate of $568 million, up 32% compared with $108 million in the third quarter of 2021
• Gross profit was $2.9 million, or 28.0% of revenue, up 103% on a dollar basis compared with $1.4 million, or 22.5% of revenue, in the third quarter of 2021
• Operating loss was $(7,300), inclusive of a $(0.9) million non-cash change in the fair value of foreign currencies, compared with operating income of $1.1 million, inclusive of a $(1.9) million non-cash change in the fair value of foreign currencies, in the third quarter of 2021
• Net loss was $(1.2) million, inclusive of a $(1.0) million non-cash change in fair value of derivative liabilities, compared with a net loss of $(6.9) million, inclusive of a $(7.9) million non-cash change in fair value of derivative liabilities in the third quarter of 2021
• Adjusted EBITDA was $(290,000), or (2.8)% of revenue, compared with $(439,000), or (6.9)% of revenue, in the third quarter of 2021

Bilanço

30 Eylül 2022 itibarıyla Şirket'in nakit ve nakit benzerleri, 8.2 Aralık 4.4 itibarıyla 31 milyon $'a kıyasla 2021 milyon $'dır.

Finansal sonuçlar

The following table reconciles Adjusted EBITDA to net loss, as reported.

2022 Outlook

The Company is raising the high end of its gross profit guidance to $10.5 million and reiterating its revenue guidance of $37.0 – $40.0 million for the full year 2022.

Finansal raporlar

Full details of the financial and operating results are described in the Company’s consolidated financial statements with accompanying notes. The consolidated financial statements and additional information about POSaBIT are available on the Company’s website at www.posabit.com/investor-relations or on SEDAR at www.sedar.com.

IFRS Dışı Önlemler

Adjusted EBITDA is a non-IFRS measures used by management that does not have any prescribed meaning by IFRS and may not be comparable to similar measures presented by other companies. The Company defines Adjusted EBITDA as net income or loss generated for the period as reported, before interest, taxes, depreciation and amortization and further adjusted to remove changes in fair values and expected credit losses, foreign exchange gains and/or losses, impairments. The Company believes this non-IFRS measure is a useful metric to evaluate its core operating performance and uses this measure to provide shareholders and others with supplemental measures of its operating performance. The Company also believes that securities analysts, investors and other interested parties, frequently use this non-IFRS measure in the evaluation of companies, many of which present similar metrics when reporting their results. We caution readers that Adjusted EBITDA should not be substituted for determining net loss as an indicator of operating results, or as a substitute for cash flows from operating and investing activities.

Tablolar İleriye Dönük

Bu basın bülteni, iş stratejimiz, ürün geliştirme, ürün geliştirme zamanlaması, etkinlikler ve eylem planlarımız ile ilgili ifadeler de dahil olmak üzere ileriye dönük ifadeler içermektedir.

Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as “anticipate,” “objective,” “may,” “will,” “might,” “should,” “could,” “can,” “intend,” “expect,” “believe,” “estimate,” “predict,” “potential,” “plan,” “is designed to” or similar expressions suggesting future outcomes or the negative thereof or similar variations. Forward-looking statements may include, among other things, statements about: our expectations regarding our expenses, sales and operations; our future customer concentration; our anticipated cash needs and our estimates regarding our capital requirements and our need for additional financing; our ability to anticipate the future needs of our customers; our plans for future products and enhancements of existing products; our future growth strategy and growth rate; our future intellectual property; and our anticipated trends and challenges in the markets in which we operate. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which POSaBIT will operate in the future, including the demand for our products, anticipated costs and ability to achieve goals. Although we believe that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements.

İleriye dönük beyanlar, iş, ekonomi ve sermaye dahil ancak bunlarla sınırlı olmamak üzere, gerçek sonuçların bu tür ileriye dönük beyanlar tarafından ifade edilen veya ima edilenlerden önemli ölçüde farklı olmasına neden olabilecek bilinen ve bilinmeyen risklere, belirsizliklere ve diğer önemli faktörlere tabidir. piyasa koşulları; mali durumumuzu olumsuz etkileyebilecek faaliyet giderlerimizi yönetme yeteneği; diğer daha iyi finanse edilen rakipler rekabetçi ürünler geliştirip piyasaya sürdükçe rekabetçi kalma yeteneğimiz; düzenleyici belirsizlikler; piyasa koşulları ve ürünlerimize yönelik talep ve fiyatlandırma; müşterilerimiz, distribütörlerimiz ve iş ortaklarımızla olan ilişkilerimiz; müşterilerimizin ihtiyaçlarını karşılayan yeni ürünleri zamanında başarıyla tanımlama, tasarlama ve piyasaya sürme yeteneğimiz; kalifiye personeli cezbetme, elde tutma ve motive etme yeteneğimiz; sektörümüzde rekabet; teknolojik liderliği sürdürme yeteneğimiz; yabancı operasyonların doğasında var olan riskleri yönetme yeteneğimiz; teknoloji değişikliklerinin ürünlerimiz ve sektörümüz üzerindeki etkisi; yeni ve yenilikçi ürünler geliştiremememiz; fikri mülkiyet haklarımızı başarılı bir şekilde koruma ve uygulama ve üçüncü tarafların fikri mülkiyet haklarının ihlaline ilişkin iddialarını savunma yeteneğimiz; işimizi maddi ve olumsuz olarak etkileyebilecek fikri mülkiyet davalarının etkisi; işletme sermayesini yönetme yeteneğimiz; ve kilit personele olan bağımlılığımız. POSaBIT, kısa bir faaliyet geçmişine sahip erken aşama bir şirkettir; karlılık elde etmeyebilir; ve planlarını, öngörülerini veya beklentilerini fiilen gerçekleştiremeyebilir.

Fiili sonuçların POSaBIT'in beklentilerinden maddi olarak farklı olmasına neden olabilecek önemli faktörler arasında, POSaBIT ürünlerine ve genel olarak blok zinciri/kripto para birimi değişimi teknolojisine yönelik tüketici duyarlılığı, davalar, küresel ekonomik iklim, kilit çalışan ve danışmanların kaybı, ek finansman gereksinimleri, kanunlardaki değişiklikler, teknoloji başarısızlıkları sayılabilir. , rekabet ve karşı tarafların sözleşmeden doğan yükümlülüklerini yerine getirmemesi.

Ne biz ne de temsilcilerimizden herhangi biri, bu haber bültenindeki bilgilerin doğruluğu, yeterliliği veya eksiksizliği konusunda açık veya zımni hiçbir beyanda bulunmamakta veya garanti vermemektedir. Ne biz ne de temsilcilerimizden herhangi biri, bu haber bültenindeki bilgilerin kullanımından veya bu haber bültenindeki bilgilerin ihmal edilmesinden kaynaklanan sözleşme, haksız fiil, güven veya başka bir şekilde herhangi bir sorumluluk kabul etmeyecektir.

Finansal Görünüm

This press release contains a financial outlook within the meaning of applicable Canadian securities laws. The financial outlook has been prepared by management of the Company to provide an outlook for the Company’s forecasted revenue, transaction sales for card services and gross profit for the 12 months to be ended December 31, 2022 and may not be appropriate for any other purpose. The financial outlook has been prepared based on a number of assumptions including the assumptions discussed under the heading “Forward-Looking Statements” herein. The actual results of the Company’s operations for any period will likely vary from the amounts set forth in these projections and such variations may be material. The Company and its management believe that the financial outlook has been prepared on a reasonable basis. However, because this information is highly subjective and subject to numerous risks, including the risks discussed under the heading “Forward-Looking Statements” herein, it should not be relied on as necessarily indicative of future results.

POSABİT HAKKINDA

POSaBIT (CSE: PBIT) is a financial technology company that delivers unique and innovative, blockchain-enabled payment processing and point-of-sale systems for cash-only businesses. POSaBIT specializes in resolving pain points for complex, high-risk, emerging industries like cannabis with an all-in-one solution that is compliant, user-friendly and utilizes top-of-the-line hardware. POSaBIT’s unique solution provides a safer and transparent environment for merchants while creating a better overall experience for the consumer. For additional information, visit: www.posabit.com.

Bize Ulaşın

Yatırımcı İlişkileri:
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Medya ilişkileri:
Oscar Dahl

855-767-2248

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Yönetim:
Ryan Hamlin

POSaBIT'in kurucu ortağı ve CEO'su

855-767-2248

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Hayden IR
James Carbonara

(646) 755-7412

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