Clip Money Inc. Reports 2024 Year End Results
Clip Money Inc. (CLPMF) reported significant financial growth for fiscal year 2024, with revenue surging 308% year-over-year to $2,360,309, compared to $577,919 in 2023. The growth was driven by a 147% increase in new deposit users and a 32% increase in revenue per user.
Q4 2024 revenue reached $1,151,862, showing a 121% quarter-over-quarter increase from Q3's $521,316, with approximately 19% attributed to holiday seasonality. Operating expenses increased moderately by 5% YoY to $6,688,824, while Cost of Revenues rose 37% to $3,449,743.
The company expanded its network to 444 ClipDrop deposit units in Q4 2024, partnering with major mall operators. The company secured $2.8M through convertible notes, with PeoplesBank contributing $2M and NCR Atleos subsidiary Cardtronics providing $800,000. Their ClipChange solution now serves 16 customers across 673 locations.
Clip Money Inc. (CLPMF) ha riportato una significativa crescita finanziaria per l'anno fiscale 2024, con un fatturato che è aumentato del 308% rispetto all'anno precedente, raggiungendo i $2,360,309, rispetto ai $577,919 del 2023. Questa crescita è stata guidata da un aumento del 147% nel numero di nuovi utenti di deposito e un incremento del 32% nel fatturato per utente.
Il fatturato del Q4 2024 ha raggiunto $1,151,862, mostrando un aumento del 121% rispetto al trimestre precedente, rispetto ai $521,316 del Q3, con circa il 19% attribuito alla stagionalità delle festività. Le spese operative sono aumentate moderatamente del 5% rispetto all'anno precedente, arrivando a $6,688,824, mentre il costo dei ricavi è aumentato del 37%, raggiungendo $3,449,743.
L'azienda ha ampliato la propria rete a 444 unità di deposito ClipDrop nel Q4 2024, collaborando con importanti operatori di centri commerciali. L'azienda ha ottenuto $2.8M tramite note convertibili, con PeoplesBank che ha contribuito con $2M e la sussidiaria NCR Atleos Cardtronics fornendo $800,000. La loro soluzione ClipChange serve ora 16 clienti in 673 località.
Clip Money Inc. (CLPMF) reportó un crecimiento financiero significativo para el año fiscal 2024, con ingresos que aumentaron un 308% interanual alcanzando los $2,360,309, en comparación con $577,919 en 2023. Este crecimiento fue impulsado por un aumento del 147% en nuevos usuarios de depósito y un incremento del 32% en los ingresos por usuario.
Los ingresos del Q4 2024 alcanzaron los $1,151,862, mostrando un aumento del 121% trimestre a trimestre desde los $521,316 del Q3, con aproximadamente el 19% atribuido a la estacionalidad de las festividades. Los gastos operativos aumentaron moderadamente un 5% interanual, alcanzando los $6,688,824, mientras que el costo de los ingresos subió un 37% a $3,449,743.
La empresa amplió su red a 444 unidades de depósito ClipDrop en el Q4 2024, asociándose con importantes operadores de centros comerciales. La empresa aseguró $2.8M a través de notas convertibles, con PeoplesBank contribuyendo con $2M y la subsidiaria NCR Atleos Cardtronics proporcionando $800,000. Su solución ClipChange ahora atiende a 16 clientes en 673 ubicaciones.
Clip Money Inc. (CLPMF)는 2024 회계연도에 상당한 재무 성장을 보고했으며, 수익이 전년 대비 308% 증가하여 $2,360,309에 달했습니다. 2023년의 $577,919와 비교됩니다. 이 성장은 신규 예금 사용자 수가 147% 증가하고 사용자당 수익이 32% 증가한 데 기인합니다.
2024년 4분기 수익은 $1,151,862에 달하며, 3분기의 $521,316에서 분기 대비 121% 증가했습니다. 약 19%는 연휴 시즌에 기인합니다. 운영 비용은 전년 대비 5% 증가하여 $6,688,824에 도달했으며, 수익 비용은 37% 증가하여 $3,449,743에 이르렀습니다.
회사는 2024년 4분기에 444개의 ClipDrop 예금 유닛으로 네트워크를 확장하였으며, 주요 쇼핑몰 운영자와 파트너십을 맺었습니다. 이 회사는 전환사채를 통해 $2.8M을 확보했으며, PeoplesBank가 $2M을 기여하고 NCR Atleos 자회사인 Cardtronics가 $800,000을 제공했습니다. 그들의 ClipChange 솔루션은 현재 673개 위치에서 16명의 고객에게 서비스를 제공합니다.
Clip Money Inc. (CLPMF) a rapporté une croissance financière significative pour l'exercice 2024, avec des revenus en hausse de 308% d'une année sur l'autre, atteignant 2,360,309 $, contre 577,919 $ en 2023. Cette croissance a été soutenue par une augmentation de 147% du nombre de nouveaux utilisateurs de dépôts et une hausse de 32% des revenus par utilisateur.
Les revenus du T4 2024 ont atteint 1,151,862 $, affichant une augmentation de 121% par rapport au trimestre précédent, par rapport aux 521,316 $ du T3, dont environ 19% sont attribués à la saisonnalité des fêtes. Les dépenses d'exploitation ont augmenté modérément de 5% d'une année sur l'autre, atteignant 6,688,824 $, tandis que le coût des revenus a augmenté de 37% pour atteindre 3,449,743 $.
L'entreprise a élargi son réseau à 444 unités de dépôt ClipDrop au T4 2024, en s'associant à de grands opérateurs de centres commerciaux. L'entreprise a sécurisé 2,8 millions de dollars grâce à des billets convertibles, avec PeoplesBank contribuant à hauteur de 2 millions de dollars et la filiale NCR Atleos Cardtronics fournissant 800,000 $. Leur solution ClipChange sert maintenant 16 clients dans 673 emplacements.
Clip Money Inc. (CLPMF) berichtete über ein signifikantes finanzielles Wachstum für das Geschäftsjahr 2024, mit einem Umsatzanstieg von 308% im Jahresvergleich auf $2,360,309, verglichen mit $577,919 im Jahr 2023. Das Wachstum wurde durch einen 147% Anstieg neuer Einzahlungsnutzer und einen 32% Anstieg des Umsatzes pro Nutzer angetrieben.
Der Umsatz im Q4 2024 erreichte $1,151,862 und zeigte einen 121% Anstieg im Quartalsvergleich gegenüber den $521,316 im Q3, wobei etwa 19% auf die Saisonalität der Feiertage zurückzuführen sind. Die Betriebskosten stiegen moderat um 5% im Jahresvergleich auf $6,688,824, während die Kosten der Einnahmen um 37% auf $3,449,743 stiegen.
Das Unternehmen erweiterte sein Netzwerk auf 444 ClipDrop-Einzahlungsstellen im Q4 2024 und ging Partnerschaften mit großen Einkaufszentrum-Betreibern ein. Das Unternehmen sicherte sich $2,8 Millionen durch wandelbare Anleihen, wobei PeoplesBank $2 Millionen beitrug und die Tochtergesellschaft Cardtronics von NCR Atleos $800,000 bereitstellte. Ihre ClipChange-Lösung bedient nun 16 Kunden an 673 Standorten.
- Revenue grew 308% YoY to $2.36M in 2024
- Strong Q4 performance with 121% QoQ revenue growth
- 147% increase in new deposit users
- 97% customer retention rate
- Operational efficiency with only 37% increase in Cost of Revenue vs 308% revenue growth
- Secured $2.8M in convertible note financing
- Network expansion to 444 ClipDrop units
- Net loss of $9.34M in 2024
- Operating expenses increased to $6.69M
- Continued dependency on external financing
- Significant portion (19%) of Q4 revenue attributed to seasonal effects
TORONTO, March 31, 2025 (GLOBE NEWSWIRE) -- Clip Money Inc. (TSX-V: CLIP; OTCQB: CLPMF) (“Clip Money” or the “Company”), a company that operates a multi-bank self-service deposit system for businesses, is pleased to announce its financial results for the fiscal year ended December 31, 2024. The Company reported record revenue growth in 2024, up over
2024 Financial Highlights
- Revenue for 2024 was
$2,360,309 , compared to$577,919 in 2023, representing308% growth year-over-year (“YoY”). YoY revenue growth for 2024 was driven by a147% increase in new deposit users, and a32% increase in revenue per user, supplemented by revenue from new products. Revenue for Q4 2024 was$1,151,862 compared to$521,316 in Q3 2024, which represents a121% quarter-over-quarter (“QoQ”) increase. Q4 is heavily impacted by seasonality from holiday shopping. The Company estimates the seasonality lift in Q4 2024 was approximately19% of total revenue. Excluding the impact of seasonality, revenue grew78% QoQ. - Operating expenses for 2024 were
$6,688,824 , compared to$6,376,857 in 2023, representing a5% YoY increase. Net loss for 2024 was ($9,338,779) , compared to ($9,316,567) . - Revenue growth continues to outpace changes in costs of revenue (“COR”). COR for 2024 was
$3,449,743 compared to COR of$2,516,166 in 2023, representing a37% YoY increase, relative to308% YoY revenue growth.
2024 Corporate Highlights
- On September 17, 2024, the Company closed a non-brokered private placement of unsecured convertible notes (the “2024 Unsecured Notes”) for aggregate gross proceeds of
$2,800,000. T he financing was led by PeoplesBank who subscribed for$2,000,000 in aggregate principal amount of the 2024 Unsecured Notes. The remaining$800,000 in aggregate principal amount of the 2024 Unsecured Notes was subscribed for by Cardtronics, Inc., a subsidiary of NCR Atleos.
2024 Network & Customer Highlights
- Clip Money grew its leading shopping center network to 444 ClipDrop deposit units in Q4 2024, adding locations with prestigious mall operators like: Pacific Retail, CBL, Westfield, Preit, Brookfield Properties, and Taubman.
- Continued organic growth from existing customers led to the addition of 962 new, active depositing users in Q4 2024. Our base of enterprise customers remain engaged and active customers, with ~29 average monthly deposits relying on the Clip network for critical cash deposits.
- Clip’s innovative change order delivery solution, ClipChange, experienced strong growth and endorsement from Clip customers. ClipChange is a complementary solution to Clip’s cash deposit network, delivering on-demand notes and coin directly to businesses for their use in conducting cash transactions. The burden of visiting bank branches for everyday cash needs requires a holistic approach to cash management and Clip’s ClipChange solution delivered change to 16 customers across 673 unique store locations.
"2024 was a transformative year for Clip Money. We doubled our user base, tripled our revenue over 2023, and delivered record-breaking Q4 growth—over
As we head into 2025, we’re building on this momentum, and our strong value proposition has been validated by some of our largest and most sophisticated customers. This gives us even greater confidence that we are well positioned for the year ahead and poised for growth, especially as we anticipate more retailers will be looking for cost-saving solutions."
— Joe Arrage, CEO and cofounder, Clip Money Inc.
| Year ended | |||||||||
| 2024 | 2023 | 2022 | |||||||
| Total revenue | $ | 2,360,309 | $ | 577,919 | $ | 27,687 | |||
| Net loss | $ | (9,338,779 | ) | $ | (9,316,567 | ) | $ | (12,135,800 | ) |
| Net loss per share – basic and diluted | $ | (0.09 | ) | $ | (0.11 | ) | $ | (0.22 | ) |
| Year ended | ||||||
| 2024 | 2023 | 2022 | ||||
| Total assets | $ | 9,587,521 | $ | 13,861,664 | $ | 9,857,842 |
| Total liabilities | $ | 17,523,428 | $ | 13,013,477 | $ | 7,796,656 |
| Distribution or cash dividends | $ | - | $ | - | $ | - |
Additional Information
The Company’s audited consolidated financial statements, notes to financial statements, and management’s discussion and analysis for the year ended December 31, 2024 are available on the Company’s SEDAR+ profile at www.sedarplus.ca. Unless otherwise indicated, all references to “$” in this press release refer to U.S. dollars.
Forward‐Looking Statements
This news release may contain forward‐looking statements (within the meaning of applicable securities laws) which reflect the Company's current expectations regarding future events. Forward-looking statements are identified by words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may", "estimate" and other similar expressions. These statements are based on the Company's expectations, estimates, forecasts and projections and include, without limitation, statements regarding the future success of the Company's business.
The forward-looking statements in this news release are based on certain assumptions. The forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
About Clip Money Inc.
Clip operates a multi-bank self-service deposit system for businesses through the Clip Money network that gives users the capability of making deposits outside of their bank branch at top retailers and shopping malls. Rather than having to go to their personal bank branch or using a cash pickup service, businesses can deposit their cash at any ClipDrop Box or ClipATM located near them. After being deposited, the funds will automatically be credited to the business’ bank account, usually within one business day. The Company combines functional hardware, an intuitive mobile app and an innovative cloud-based transaction engine that maximizes business-banking transactions. Combined with mobile user applications, Clip offers a cost-effective and convenient solution for business banking deposits in metropolitan statistical areas across Canada and the United States. For more information about the Company, visit www.clipmoney.com.
For further information, please contact:
Joseph Arrage
Chief Executive Officer
tel: 844-593-2547
FAQ
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