Business Warrior Announces Strong Q1 2023 Financial Results, with Over 220% Growth in Revenue, and Sales Momentum in Promoting Innovative Solutions

Rhea-AI Summary

Business Warrior Corporation (OTC: BZWR) reported significant growth in its financial results for the quarter ending November 30, 2022, with revenue soaring over 220% to $1,455,742. Despite this, the company incurred a net loss of $971,944 due to increased Costs of Sales associated with new acquisitions. The company’s cash balance stands at $175,261, supported by a Line of Credit of up to $5 million. Business Warrior is prioritizing long-term profitability through its new flagship product, PayPlan, which has already secured significant clients. The focus on sustainable growth signals a promising path forward, although expenses remain a concern as the company invests in its new business model.

Positive

• Revenue increased over 220% year-over-year to $1,455,742.
• Acquisition of two companies completed, enhancing service offerings.
• Focus on long-term profitability over short-term gains.
• Launch of PayPlan with first significant clients signed in February.

Negative

• Net loss of $971,944 attributed to increased Cost of Sales.
• Increased Cost of Sales to $1,008,390 due to new business model.

PHOENIX, March 13, 2023 (GLOBE NEWSWIRE) -- Business Warrior Corporation (OTC: BZWR), the cloud-based lending platform for success and long-term business growth, announces its financial results for the quarter ending November 30, 2022, showing significant growth and progress in its cloud-based lending platform. Revenue for the period surged to $1,455,742, a remarkable increase of over 220% from the previous year. This marks the first quarter of financial results since the successful acquisition of two companies last year and the integration of these entities fully completed.

The Company has reported a net loss of $971,944, which can be attributed mainly to an increase in the Cost of Sales incurred while serving clients within the new business model. The Company's acquisition of new businesses resulted in an increase in the Cost of Sales for the period to $1,008,390, compared to the same period the previous year.

The Company's latest business model prioritizes long-term profitability over short-term revenue spikes, ensuring sustainable growth. As of November 30, 2022, the Company's cash balance was reported at $175,261, and they have secured a new Line of Credit with an available draw of up to $5,000,000. The Company's principal balance on this LOC stands at $2.1 million, with the remaining funds allocated towards operational expenses, marketing, sales growth, and achieving profitability.

“The quarter’s financial results reflect the base of our new business model after two acquisitions last year. We have more sustainable revenue streams, we’re on a path to consistent growth, and our team is built for long-term success. In light of the economy and the turmoil in banking, access to capital and turning it into profits is essential, and it’s how businesses survive. Our end-to-end solution for lenders and businesses solves a real problem that the world is seeing right now, and PayPlan does it more cost-efficiently than ever before,” commented CEO of Business Warrior, Rhett Doolittle.

Business Warrior just launched its new flagship solution, PayPlan, and has announced signing its first significant clients in February. The team is focusing on implementing the solution for their clients while continuing to add new clients to the queue. New clients are forecasted to add to the Company's current portfolio of customers, representing a significant step forward in their growth strategy.

During the period that ended November 30, 2022, the Company focused on building its new flagship product, which represented a higher amount of expenses, but an unusually lower amount on advertising. Since the end of the period, the Company has reduced salaries and wages and General and Administrative expenses. The Company entered the marketing and promotion phase of PayPlan and the Helix division’s solutions at the beginning of the new year and is expecting an increase in advertising going forward. This has already resulted in new sales growth in February and March. The combination of marketing services and lending has resulted in early signs of success of cross-selling opportunities between the company's different divisions.

Business Warrior posted a strong quarter while signaling some early success in their new strategy formed by the experience of the newly formed team, technology, and the assets from the recent acquisitions.

About Business Warrior
Business Warrior Corp. is a software as a service (SaaS) company offering turnkey lending solutions to high-growth companies. We are a full-service provider with an end-to-end lending technology platform and customer acquisition marketing services. Founded in 2014, Business Warrior is a SaaS marketing company with a virtual workforce and employees worldwide. The company has worked with over 25,000 global businesses ranging from small to enterprise businesses. Business Warrior acquired Helix House and Alchemy Technologies in 2022. For more information, visit https://businesswarrior.com.

Forward-Looking Statement
This press release and the offering materials may contain forward-looking statements and information relating to, among other things, the company, its business plan and strategy, and its industry. Forward-looking statements are neither historical facts nor assurances of future performance. They are based on the current beliefs of, assumptions made by, and information currently available to the company’s management regarding the future of the company’s business, future plans and strategies, anticipated events and trends, the economy, and other future conditions. When used in the offering materials, the words “aim,” “estimate,” “project,” “believe,” “anticipate,” “intend,” “envision,” “estimate,” “expect,” “future,” “goal,” “hope,” “likely,” “may,” “plan,” “potential,” “seek,” “should,” “strategy,” “will” and similar references to future periods are intended to identify forward-looking statements, which constitute forward-looking statements. These statements reflect management’s current views with respect to future events and are subject to inherent risks, uncertainties, and changes in circumstances that are difficult to predict (many of which are outside of the company’s control) and could cause the company’s actual results to differ materially from those contained in the forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. All subsequent written and oral forward-looking statements concerning the company, the offering, or other matters, are expressly qualified in their entirety by the cautionary statements above. The company does not undertake any obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.

Investor Relations:

John Bailey

Investors@BusinessWarrior.com

(855) 884-5805

FAQ

What were the financial results for BZWR for the quarter ending November 30, 2022?

Business Warrior reported a revenue of $1,455,742, a 220% increase compared to the previous year, but incurred a net loss of $971,944.

What is the new business model for Business Warrior (BZWR)?

The new business model emphasizes long-term profitability and sustainable growth, initiated after two acquisitions.

How much cash does BZWR have on hand?

As of November 30, 2022, Business Warrior reported a cash balance of $175,261.

What is PayPlan and how is it related to BZWR's growth?

PayPlan is Business Warrior's new flagship solution aiming for growth by providing cost-efficient lending solutions, with significant client acquisition already underway.

How has BZWR's acquisition strategy impacted its operations?

The acquisition strategy has expanded Business Warrior's service offerings but also increased Costs of Sales, contributing to a net loss for the quarter.