BeWhere Holdings Inc. Reports Second Quarter 2024 Results
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 Inc. (TSXV: BEW) (OTCQB: BEWFF) ha riportato il suo massimo fatturato e profitto trimestrale mai registrato per il secondo trimestre del 2024, con una crescita del fatturato del 40% e un margine di profitto del 13%. I punti salienti includono:
- Fatturato totale: $4,320,672 (crescita del 40% rispetto all'anno precedente)
- Fatturato ricorrente: $1,660,689 (crescita del 32% rispetto all'anno precedente)
- Utile lordo: $1,411,263 (crescita del 31% rispetto all'anno precedente)
- Reddito netto prima delle imposte: $558,892 (crescita del 510% rispetto all'anno precedente)
- Capitale circolante: $6,768,741
- Saldo di cassa: $4,780,030
- EBITDA rettificato: $566,317 (miglioramento del 118% rispetto all'anno precedente)
L'azienda ha dimostrato una forte crescita in tutte le metriche chiave, controllando al contempo le spese operative e investendo in R&S per dispositivi M-IoT di prossima generazione.
BeWhere Holdings Inc. (TSXV: BEW) (OTCQB: BEWFF) reportó sus ingresos y ganancias trimestrales más altos de la historia para el segundo trimestre de 2024, con un crecimiento de ingresos del 40% y un margen de ganancias del 13%. Los puntos destacados incluyen:
- Ingresos totales: $4,320,672 (aumento del 40% respecto al año anterior)
- Ingresos recurrentes: $1,660,689 (aumento del 32% respecto al año anterior)
- Beneficio bruto: $1,411,263 (aumento del 31% respecto al año anterior)
- Ingreso neto antes de impuestos: $558,892 (aumento del 510% respecto al año anterior)
- Capital de trabajo: $6,768,741
- Saldo de caja: $4,780,030
- EBITDA ajustado: $566,317 (mejora del 118% respecto al año anterior)
La empresa mostró un fuerte crecimiento en todas las métricas clave mientras controlaba los gastos operativos e invertía en I+D para dispositivos M-IoT de próxima generación.
BeWhere Holdings Inc. (TSXV: BEW) (OTCQB: BEWFF)는 2024년 2분기 역대 최고 분기 매출 및 수익을 보고했으며, 40%의 매출 성장과 13%의 수익 마진을 기록했습니다. 주요 내용은 다음과 같습니다:
- 총 매출: $4,320,672 (전년 대비 40% 증가)
- 반복 매출: $1,660,689 (전년 대비 32% 증가)
- 총 이익: $1,411,263 (전년 대비 31% 증가)
- 세전 순이익: $558,892 (전년 대비 510% 증가)
- 운영 자본: $6,768,741
- 현금 잔고: $4,780,030
- 조정 EBITDA: $566,317 (전년 대비 118% 개선)
회사는 모든 주요 지표에서 강력한 성장을 보여주었으며, 운영 비용을 통제하고 차세대 M-IoT 장치에 대한 연구 개발에 투자했습니다.
BeWhere Holdings Inc. (TSXV: BEW) (OTCQB: BEWFF) a annoncé ses plus hauts revenus et bénéfices trimestriels jamais enregistrés pour le deuxième trimestre de 2024, avec une croissance des revenus de 40% et une marge bénéficiaire de 13%. Les points clés incluent :
- Revenus totaux : 4 320 672 $ (augmentation de 40 % par rapport à l'année précédente)
- Revenus récurrents : 1 660 689 $ (augmentation de 32 % par rapport à l'année précédente)
- Bénéfice brut : 1 411 263 $ (augmentation de 31 % par rapport à l'année précédente)
- Revenu net avant impôts : 558 892 $ (augmentation de 510 % par rapport à l'année précédente)
- Fonds de roulement : 6 768 741 $
- Solde de trésorerie : 4 780 030 $
- EBITDA ajusté : 566 317 $ (amélioration de 118 % par rapport à l'année précédente)
L'entreprise a démontré une forte croissance dans toutes les mesures clés tout en contrôlant les coûts opérationnels et en investissant dans la R&D pour des dispositifs M-IoT de nouvelle génération.
BeWhere Holdings Inc. (TSXV: BEW) (OTCQB: BEWFF) berichtete über seine höchsten vierteljährlichen Einnahmen und Gewinne aller Zeiten für das 2. Quartal 2024, mit einem Umsatzwachstum von 40% und einer Gewinnmarge von 13%. Wichtige Highlights sind:
- Gesamteinnahmen: $4,320,672 (40% Anstieg im Jahresvergleich)
- Wiederkehrende Einnahmen: $1,660,689 (32% Anstieg im Jahresvergleich)
- Bruttogewinn: $1,411,263 (31% Anstieg im Jahresvergleich)
- Nettogewinn vor Steuern: $558,892 (510% Anstieg im Jahresvergleich)
- Working Capital: $6,768,741
- Bargeldbestand: $4,780,030
- Bereinigtes EBITDA: $566,317 (118% Verbesserung im Jahresvergleich)
Das Unternehmen zeigte in allen wichtigen Kennzahlen ein starkes Wachstum, während es die Betriebskosten kontrollierte und in Forschung und Entwicklung für innovative M-IoT-Geräte investierte.
- Record-breaking quarterly revenue of $4,320,672, a 40% year-over-year increase
- Highest ever quarterly gross profit of $1,411,263, a 31% year-over-year increase
- Net income before taxes surged by 510% year-over-year to $558,892
- Recurring revenue grew by 32% year-over-year to $1,660,689
- Adjusted EBITDA improved by 118% year-over-year to $566,317
- Strong working capital position of $6,768,741 and cash balance of $4,780,030
- None.
Toronto, Ontario--(Newsfile Corp. - August 22, 2024) - BeWhere (TSXV: BEW) (OTCQB: BEWFF) ("BeWhere" or the "Company"), a leading Mobile Internet of Things (M-IoT) company, is pleased to announce its financial results for three and six months ended June 30, 2024.
Owen Moore, CEO and Co-Founder stated, "The company recorded its highest ever quarterly revenue and earnings, while achieving
Chris Panczuk, COO and Co-Founder stated, "We are pleased with the results as the company recorded the highest ever quarterly Gross profit of
Second Quarter 2024 Highlights
- Total Revenue increased by
40% year over year - Total Revenue for the three months ended June 30, 2024, was$4,320,672 compared to$3,086,441 for the same period in 2023: an increase of$1,234,231.
- Recurring Revenue increased by
32% year over year - Recurring Revenue for the three months ended June 30, 2024, was$1,660,689 compared to$1,255,448 for the same period in 2023: an increase of$405,241.
- Gross Profit increased by
31% year over year - Gross profit for the three months ended June 30, 2024, was$1,411,263 compared to$1,077,677 for the same period in 2023: an improvement of$333,586.
- Net income before taxes increased by
510% year over year - The Company recorded net income for the three months ended June 30, 2024, of$558,892 compared to$91,623 for the same period in 2023: an increase of$467,269.
- Working capital and Cash in hand - At June 30, 2024, the Company had working capital of
$6,768,741. Cash balance on June 30, 2024 was$4,780,030.
- Adjusted EBITDA (non-IFRS measure) improved by
118% year over year - Adjusted EBITDA for the three months ended June 30, 2024, was$566,317 compared to$259,536 for the same period in 2023, an improvement of$306,781.
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.sedar.com 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/220741
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