XTM Inc. Files Q3 2024 Financial Results with 29% YoY Growth

XTM reports successful Canadian dollars and successful accordance with International Financial Reporting Standards (“IFRS”)

Article content

Article content

TORONTO — XTM Inc. (“XTM” oregon the “Company”) (CSE: PAID / FSE: 7XT), a fintech institution specializing successful innovative outgo solutions including Earned Wage Access (EWA) done its AnyDay™ platform, has filed its fiscal statements for the 3rd 4th of 2024. The results show beardown growth, including a 29% year-over-year (YoY) summation successful gross for the archetypal 9 months of 2024.

Article content

This summary provides an overview of XTM’s fiscal show for Q3 2024, showcasing its maturation successful cardinal metrics, ongoing strategical initiatives, and caller developments that purpose to fortify its presumption successful the fintech space.

XTM’s afloat fiscal presumption and results of operations is provided successful the Financial Statements and a treatment of those results tin beryllium recovered successful the Company’s MD&A filed connected SEDAR+.

Financial Highlights for Q3 2024:

• Gross Dollar Value (GDV): XTM’s level GDV accrued by 23% year-over-year, reaching $592 cardinal for the archetypal 3 quarters of 2024. GDV successful Q3 unsocial deed a grounds $215.6 million, marking a 21% summation implicit Q3 2023.
• Active Users: The fig of progressive users connected the XTM level grew by 9% successful Q3 2024 compared to the aforesaid 4th successful the erstwhile year.
• Revenue Growth: Revenue for Q3 2024 accrued by 27% to $2.4 million, compared to $1.9 cardinal successful Q3 2023. For the archetypal 9 months of 2024, gross totaled $6.4 million, a 29% summation from $4.9 cardinal successful the aforesaid play successful 2023.
• Net Loss: XTM’s nett and broad nonaccomplishment decreased by $0.6 cardinal to $4.2 cardinal successful Q3 2024, compared to a nonaccomplishment of $4.8 cardinal successful Q3 2023.
• Net Loss per Share: The nett nonaccomplishment per afloat diluted stock was $0.02 successful Q3 2024, compared to $0.03 for the aforesaid play past year.

Recent Developments and Key Events:

• CFO Appointment: On October 3, 2024, XTM appointed Jakob Ripshtein arsenic the Company’s Chief Financial Officer (“CFO”). Mr. Ripshtein brings much than 30 years of acquisition starring finance, firm strategy, marketing, and income and has a heavy knowing of diversified industries. As President of Diageo Canada followed by CFO of Diageo North America, Jakob was charged with providing the fiscal and strategical enactment to present the Diageo North America Financial show NSV and trading nett commitments to the company, straight contributing to and shaping the concern strategy, arsenic good arsenic managing a analyzable governance and compliance agenda.
• PayNow Program Launch: On October 16, 2024, XTM launched its PayNow program, providing impermanent workers successful the U.S. with a elemental mobile app to person earnings, load currency astatine implicit 50,000 locations, and entree worker benefits.
• Convertible Debenture Offering: On October 24, 2024, XTM announced a backstage placement offering of convertible debentures, seeking up to C$7 cardinal successful funding.
• Partnership with KOHO Financial: On November 14, 2024, XTM entered into an exclusive referral statement with KOHO Financial Inc. to connection enhanced fiscal services to the much than 100,000 members of XTM’s AnyDay™ platform.

Article content

Article content

About XTM Inc.

XTM is simply a starring fintech institution that provides innovative outgo solutions, including Earned Wage Access (EWA), to businesses successful the hospitality, idiosyncratic care, and staffing industries. Its flagship product, AnyDay™, allows employees to entree their earned wages on-demand. XTM’s afloat owned subsidiary, QRails, offers a cloud-based outgo level that powers on-demand wage for workers and payroll providers globally.

For much accusation astir XTM, sojourn xtminc.com

Disclaimer for Forward Looking Statements

This quality merchandise contains “forward-looking information” and “forward-looking statements” wrong the meaning of applicable securities laws (the “forward-looking statements”), wrong the meaning of applicable Canadian securities legislation, including statements regarding the issuance of the FFCTO, the contents of these orders, the Company’s quality to record the Required Documents, the completion of the required steps successful respect of the audit of the Required Documents related to the yearly fiscal play ending December 31, 2023, the consequent revocation of the Cease Trade Order, the assignment of a caller CFO and directors of the Company, and management’s plans regarding its businesses. It is imaginable that the Required Documents whitethorn not beryllium filed, oregon that adjacent if the Required Documents are filed that the Cease Trade Order whitethorn ne'er beryllium revoked by the OSC oregon different regulators. Forward-looking statements are statements that are not humanities facts and are generally, though not always, identified by words specified arsenic “expect,” “plan,” “anticipate,” “project,” “target,” “potential,” “schedule,” “forecast,” “budget,” “estimate,” “intend” oregon “believe” and akin expressions oregon their antagonistic connotations, oregon that events oregon conditions “will,” “would,” “may,” “could,” “should” oregon “might” occur. All specified forward-looking statements are based connected the opinions and estimates of absorption arsenic of the day specified statements are made. These forward-looking statements are made arsenic of the day of this quality release. Readers are cautioned not to spot undue reliance connected forward-looking statements, arsenic determination tin beryllium nary assurance that the aboriginal circumstances, outcomes oregon results anticipated successful oregon implied by specified forward-looking statements volition hap oregon that plans, intentions oregon expectations upon which the forward-looking statements are based volition occur.

Article content

While we person based these forward-looking statements connected our expectations astir aboriginal events arsenic astatine the day that specified statements were prepared, the statements are not a warrant that specified aboriginal events volition hap and are taxable to risks, uncertainties, assumptions and different factors which could origin events oregon outcomes to disagree materially from those expressed oregon implied by specified forward-looking statements. There tin beryllium nary assurance that forward-looking statements volition beryllium to beryllium accurate, arsenic existent results and aboriginal events could disagree materially from those anticipated successful specified statements. Accordingly, readers should not spot undue reliance connected forward-looking statements. The Company does not undertake immoderate work to update oregon change immoderate forward-looking statements but arsenic required under applicable securities laws. For the reasons acceptable distant above, undue reliance should not be placed connected forward-looking statements.

The CSE has not approved nor disapproved the contents of this property release, and the CSE does not judge work for the adequacy oregon accuracy of this release.

View root mentation connected businesswire.com: https://www.businesswire.com/news/home/20241129551406/en/

Contacts

For much accusation delight contact:
Jakob Ripshtein
finance@xtminc.com
416.260.1641

Article content