BEWHERE HLDGS INC - BEWFF STOCK NEWS

BeWhere Holdings has announced it will release its financial results for Q3 2024 on November 20, 2024. The company's recent quarterly performance shows consistent growth, with total revenue increasing from $3.07M in Q3 2023 to $4.32M in Q2 2024. Gross profit has also shown steady improvement, rising from $1.25M to $1.41M over the same period. Net profit has fluctuated but demonstrated overall growth, reaching $387,787 in Q2 2024, compared to $284,662 in Q3 2023.

BeWhere Holdings Inc. (TSXV: BEW) (OTCQB: BEWFF) reported its highest ever quarterly revenue and earnings for Q2 2024, with a 40% revenue growth and 13% earnings margin. Key highlights include:

- Total Revenue: $4,320,672 (40% YoY increase)
- Recurring Revenue: $1,660,689 (32% YoY increase)
- Gross Profit: $1,411,263 (31% YoY increase)
- Net income before taxes: $558,892 (510% YoY increase)
- Working capital: $6,768,741
- Cash balance: $4,780,030
- Adjusted EBITDA: $566,317 (118% YoY improvement)

The company demonstrated strong growth across all key metrics while controlling operating expenses and investing in R&D for next-generation M-IoT devices.

BeWhere Holdings (TSXV: BEW, OTCQB: BEWFF), a prominent M-IoT company, will release its financial results for Q2 2024 on August 22, 2024. The results cover the three and six months ending June 30, 2024. Over the last four quarters:

Total Revenue: Q2 2023: $3,086,441, Q3 2023: $3,075,102, Q4 2023: $3,217,734, Q1 2024: $3,500,137.

Gross Profit: Q2 2023: $1,077,677, Q3 2023: $1,250,649, Q4 2023: $1,247,052, Q1 2024: $1,343,332.

Net Profit: Q2 2023: $80,517, Q3 2023: $284,662, Q4 2023: $93,908, Q1 2024: $210,379.

The company highlights Adjusted EBITDA as a non-IFRS measure, useful for operating comparisons, though not superior to IFRS net income. The reconciliation of Adjusted EBITDA to IFRS profit (loss) is in the Management's Discussion and Analysis for the period ending December 31, 2023.

BeWhere (TSXV: BEW) (OTCQB: BEWFF), a leading Mobile Internet of Things company, has secured a major follow-up order exceeding 16,000 low-power 5G IoT asset trackers from a global Fortune 100 shipping and logistics company. This expansion follows a successful winter implementation that demonstrated a 15% savings in operational budget for peak season activity.

The company has also engaged A F Parker Consulting, led by telecom marketing veteran Andrew Parker, to support marketing activities and promote BeWhere's innovative mobile tracking solutions. Additionally, BeWhere has granted 200,000 stock options to two independent directors at an exercise price of $0.45 per share, expiring on July 12, 2029.

BeWhere Holdings announces plans to repurchase up to 5% of its issued and outstanding common shares through a Normal Course Issuer Bid (NCIB) starting June 7, 2024, and ending June 6, 2025. The company believes its current market price underestimates the true value of its shares. As of May 31, 2024, BeWhere had 87,231,111 issued and outstanding shares, translating to a maximum repurchase of 4,361,555 shares. If shares acquired under the current NCIB reduce outstanding shares to 84,052,762, the repurchase target would drop to 4,202,638 shares. Purchases will occur through TSX Venture Exchange facilities at market prices, with Beacon Securities handling transactions. All repurchased shares will be canceled, pending regulatory approval.

On May 16, 2024, BeWhere (TSXV: BEW, OTCQB: BEWFF), a Mobile Internet of Things (M-IoT) company, announced that its new suite of devices has received Network Optimized (NO) and FirstNet Trusted certification from AT&T. These certifications include the BeSol+, BeWired+, BeTen+, and BeMini products, which provide real-time asset tracking and inventory management for various enterprises. The AT&T certification ensures that these devices meet criteria for SIM and RAN compatibility, user experience, and security readiness. These certifications position BeWhere and AT&T's combined offerings as a leading solution in the U.S. The products support diverse applications, from tracking outdoor assets like dry vans to monitoring medical equipment. BeWhere's cloud-based platform enhances tracker management with features such as geofencing, motion alerts, and temperature reports. The company highlights the significance of these certifications in validating the quality of their technology and expanding their market reach.

BeWhere Holdings (TSXV: BEW, OTCQB: BEWFF) announced its Q1 2024 financial results, showcasing its 13th consecutive quarter of positive net income.

Total revenue increased by 31% year-over-year, reaching $3.5 million. Recurring revenue saw a 28% year-over-year rise, totaling $1.5 million. Gross profit also improved by 27% to $1.34 million.

Net income before taxes surged by 185%, amounting to $401,269. The company's working capital stood at $6.18 million, with a cash balance of $4.32 million.

Additionally, the company granted 150,000 options at an exercise price of $0.375 per share to two independent directors and the CFO, expiring in May 2029.

BeWhere Holdings Inc reported its 2023 fiscal year-end results, showcasing significant improvements in total revenue, recurring revenue, gross profit, net income before taxes, and adjusted EBITDA. The company achieved a 20% increase in total revenue, a 31% increase in recurring revenue, and a 31% increase in gross profit year over year. Net income before taxes saw a 58% improvement, and adjusted EBITDA improved by 54% year over year. The company maintained a healthy working capital balance and continued to invest in research and development for its M-IoT sensors and solutions.

BeWhere Holdings Inc. (BEW) announces Beacon Securities Limited as the Member for its Normal Course Issuer Bid, with all other terms remaining the same.