BeWhere Holdings Inc. Announces Release Date of Second Quarter 2024 Results

Rhea-AI Summary

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.

Positive

• Q1 2024 total revenue increased to $3,500,137, reflecting growth.
• Q1 2024 net profit rose to $210,379, indicating improved profitability.

Negative

• Fluctuating net profits in the last four quarters with Q4 2023 net profit at a low $93,908.

Toronto, Ontario--(Newsfile Corp. - August 8, 2024) - BeWhere (TSXV: BEW) (OTCQB: BEWFF) ("BeWhere" or the "Company"), a leading Mobile Internet of Things (M-IoT) company, announces the release date of its financial results for three and six months ended June 30, 2024.

The company will announce its second quarter 2024 results on August 22, 2024.

Below is the summary of results for its last four quarter:

	2023	2023	2023	2024
	Q2	Q3	Q4	Q1
Total Revenue	3,086,441	3,075,102	3,217,734	3,500,137
Gross profit	1,077,677	1,250,649	1,247,052	1,343,332
Net profit	80,517	284,662	93,908	210,379

 

Non-IFRS Measures

Adjusted EBITDA is a non-IFRS measure and does not have standardized meaning as it relates to performance measures and may not be comparable to other issuer disclosures of similar performance measures. The Company has provided a reconciliation of Adjusted EBITDA to IFRS profit (loss) in the Management's Discussion and Analysis for the period ended December 31, 2023. Adjusted EBITDA is defined as earnings before interest income, taxes, depreciation and amortization, share-based compensation, and other non-recurring gains and losses. Management believes that Adjusted EBITDA is a useful measure that facilitates period to period operating comparisons. Adjusted EBITDA should not be considered superior to IFRS net income (loss).

About BeWhere

BeWhere (TSXV: BEW) (OTCQB: BEWFF) is a Mobile Internet of Things ("M-IoT") solutions company that designs and sells self-powered hardware with sensors and software applications. Our solutions serve two main markets: (1) Asset Tracking, consisting of remote location tracking various non-powered fixed and movable assets such as trailers, dry vans etc., and (2) Connected Sensors, to remotely track information on assets for water pressure, water detection and soil moisture. BeWhere's devices use the latest available cellular technologies (LTE-M and NB-IoT) to transmit collected data into mobile applications and cloud-based platforms, at a much lower cost than traditional cellular networks. BeWhere also offers solutions that can be fully integrated with existing software, and white-labeled. BeWhere' solutions are innovative, offering low-cost sophisticated technology which allows customers to deploy remote tracking technology where cost was previously prohibitive.

Follow BeWhere on LinkedIn, Facebook, Twitter, and YouTube

CONTACT INFORMATION
BeWhere Inc.
Margaux Berry, VP Strategy and Growth
1 (844) 229-4373 x 107
info@bewhere.com

Cautionary Statements Regarding Forward-Looking Information

Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance, are "forward-looking statements".

We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements.

Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including technology development, anticipated revenues, projected size of market, and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.

BeWhere Holdings Inc. (the "Company") does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, technology development and marketing activities, the Company's historical experience with technology development, uninsured risks. Actual results may differ materially from those expressed or implied by such forward-looking statements.

The Company's audited Interim Consolidated Financial Statements for the period ended June 30, 2024 and 2023, together with its corresponding Management's discussion and analysis can be found under the Company's profile on SEDAR at www.sedarplus.ca and on the Company's website at www.bewhere.com.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (as that term is defined in the Policies of the TSX Venture Exchange) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219205

FAQ

When will BeWhere (BEWFF) announce its Q2 2024 results?

BeWhere (BEWFF) will announce its Q2 2024 results on August 22, 2024.

What was BeWhere's (BEWFF) total revenue in Q1 2024?

BeWhere's (BEWFF) total revenue in Q1 2024 was $3,500,137.

How did BeWhere's (BEWFF) net profit perform in the last four quarters?

BeWhere's (BEWFF) net profit fluctuated: Q2 2023: $80,517, Q3 2023: $284,662, Q4 2023: $93,908, Q1 2024: $210,379.

What is the significance of Adjusted EBITDA for BeWhere (BEWFF)?

Adjusted EBITDA is a non-IFRS measure that BeWhere (BEWFF) uses for operating comparisons, though it is not superior to IFRS net income.

Where can I find the reconciliation of BeWhere's (BEWFF) Adjusted EBITDA to IFRS profit (loss)?

The reconciliation is available in the Management's Discussion and Analysis for the period ending December 31, 2023.