GainClients, Inc. Year End Numbers Look Promising
GainClients (OTC PINK:GCLT) announced its fiscal year 2022 results, revealing a remarkable 28x increase in sales and a return to gross profit after previous losses. The company doubled its customer base and expanded its service branches from 32 to 66. Notably, the number of checks scanned surged from under 200 in 2021 to over 4,000 in 2022, despite market slowdowns. GainClients continues to enhance its Remote Deposit Capture Solution, now operational with 12 banks, and is working on integrations with three additional institutions. This growth positions GainClients as a key provider in the real estate tech sector.
- 28x increase in sales for FY 2022.
- Gross profit returned after previous losses.
- Doubled customer base and expanded branches from 32 to 66.
- Scanned over 4,000 checks in 2022, a significant increase from 200 in 2021.
- Remote Deposit Capture Solution operational with 12 banks and three more in development.
- None.
TUCSON, AZ / ACCESSWIRE / February 14, 2023 / GainClients, Inc. (OTC PINK:GCLT) ("GainClients" or the "Company") is pleased to announce that it has posted its year-end financial statements for Fiscal Year 2022 and has once again, shown exponential growth in both; revenues and gross profit.
"In a year of 1st's and record breaking, we are excited to announce a 28x increase in sales and finally taking our gross profit out of the red. Our future is bright with great clients like Capital Title of Texas, as well as several others in many other states," said Ed Laine, the Company's CEO.
Over the course of the year, the Company was able to double it's Customer Base and increases the branches they serve from 32 to 66. And from YE 2021's production to YE 2022, the Company saw a 25x increase in the number of checks scanned and this was all while the Market overall saw a severe slowdown from May 2022 on.
"The increase in interest rates concerned us, as it did everyone, but we also knew that the "life events" that cause people to buy and sell houses, would still be happening. And once buyers had the chance to grieve the disappearance of ‘two and three point something' rates, they would return to the Market. And they have." Laine continued, "We didn't even scan 200 checks in 2021 and yet, in 2022 we scanned over 4000".
GainClients delivers a solution to Title and Escrow Companies to make the collection of earnest money deposits seamless and easy for their client base. The GainClients Remote Deposit Capture Solution ("RDC") is now fully operational with 12 different banks, including Wells Fargo Bank, First Interstate Bank, American Bank, American National Bank, Plains Capital Bank, NewFirst Bank, Allegiance Bank, Simmons Bank, Huntington Bank, Umpqua Bank, First Financial Bank, and now, Independent Bank.
"We are currently working on three additional bank connections and will make further announcements, once those are live", said Laine.
Since going public in 2001, GainClients has been a preferred provider of Tech Solutions to the Real Estate Industry. With the Pandemic and the importance of Social Distancing, the Company's "Contactless Earnest Money Capture Tool" was the perfect fit for the time. And since all real estate transactions are initiated by an Agreement and an immediate deposit, made by the buyer of the property, to demonstrate "good faith." This deposit, in most states, is called an "earnest money deposit." GainClients' RDC Tool allows this deposit to occur digitally, saving clients thousands of dollars in courier fees and their employees' time.
For the real estate agent, the RDC service will eliminate the time spent picking up checks from their buyer clients and fees charged by title companies. For title companies, it will reduce the millions spent on manual courier services and overnight shipping costs. In addition, the system will expedite the escrow opening process, as well as solving their disbursement and/or refunds to avoid becoming Dormant Funds. It's also a beneficial service from title companies to their REALTOR® partners that will strengthen existing relationships and forge new ones.
About GainClients, Inc.
GainClients products, the Remote Deposit Capture Tool or RDC, the GCard, and the Daily Opportunity Service, consist of custom formatted data and marketing services created for the real estate industry including real estate agents and brokers, lender brokerages, title/escrow and insurance companies and individual real estate, mortgage, and title and escrow professionals. Learn more at: http://www.thegainclientsway.com/.
For More Information:
GainClients
Ed Laine, at info@gainclients.com or at +1.206.229.5515;
Corporate Office: 6245 E Broadway Blvd., Suite 400, Tucson, AZ 85711
Cautionary Statements
This corporate update contains "forward-looking information" that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
SOURCE: GainClients, Inc.
View source version on accesswire.com:
https://www.accesswire.com/739123/GainClients-Inc-Year-End-Numbers-Look-Promising
FAQ
What financial results did GainClients report for FY 2022?
How many checks did GainClients scan in 2022?
How many banks is GainClients' Remote Deposit Capture Solution operational with?
What was the change in GainClients' customer base in 2022?
What is GainClients' stock symbol?
