KATIPULT TECH CORP ORD - KTPPF STOCK NEWS

Katipult Technology Corp. (TSXV: FUND) has released its Q2 2024 financial results. Key highlights include:

- Revenue decreased by 4.8% to $512,000 from $538,000 in Q2 2023
- Gross Profit Percentage was 81.6%, down from 84.5% in Q2 2023
- Adjusted EBITDA losses increased slightly to ($243,000) from ($239,000)
- Net income was $69,000, compared to a net loss of ($484,000) in Q2 2023
- Cash and cash equivalents balance of $0.5 million as of June 30, 2024
- Working capital declined to ($3.8 million) due to 2018 Debentures shift to current liabilities

The company faces challenges in generating sufficient sales volumes for positive cash flows and relies on external financing. Katipult is focusing on adding enterprise customers, growing MRR, and enhancing its DealFlow product to digitize private capital markets.

Katipult Technology Corp. (TSXV: FUND) has announced amendments to its convertible debentures originally issued in May 2018. The key changes include:

1. Extension of maturity date to May 30, 2027
2. Debentures now secured against all present and after-acquired personal property
3. Reduction of base interest rate from 8.5% to 4%, with adjustments based on cash balance
4. Interest grace period from April 15 to November 30, 2024
5. Reduction of conversion price to $0.20 per common share

The amendments are considered a 'related party transaction' due to director Brian Craig's involvement as a debenture holder. Katipult intends to rely on exemptions from certain requirements of MI 61-101 for this transaction.

Katipult Technology Corp. (TSXV: FUND) has been awarded the Tech of the Future - Customer Experience category at the 2024 Banking Tech USA Awards in New York City.

The award highlights the innovative customer experience capabilities of Katipult's DealFlow platform, which assists investment firms in automating the entire lifecycle of new issues for both retail and institutional investors.

CEO Gord Breese expressed pride in being recognized alongside industry giants like Morgan Stanley, Wells Fargo, and J.P. Morgan. Katipult's DealFlow aims to modernize private placements, public offerings, and investor account openings.

Katipult Technology Corp. (TSXV: FUND), a prominent Fintech provider specializing in capital exchange software for equity and debt markets, has signed a license agreement with a major investment dealer. This deal aims to enhance scalability, improve business processes, and boost customer experience across North American capital markets operations. Katipult's CEO, Gord Breese, highlighted the growing adoption of their DealFlow product, which facilitates modern, efficient workflows and minimizes errors in both retail and institutional investor participation in new issue offerings. The agreement emphasizes rapid innovation and comprehensive solutions for private and public financings.

Katipult Technology Corp. (TSXV: FUND) has released its Q1 2024 financial results and provided corporate updates. The company reported a 7.2% increase in subscription revenue, reaching $506,000, with a 16% rise in enterprise customer revenue. The gross profit remained steady at 79.2%. However, adjusted EBITDA losses increased slightly to $269,000 due to higher administrative costs. The net loss was $379,000, a significant shift from the $799,000 net income in Q4 2023, largely due to changes in the fair value of 2018 Debentures.

As of March 31, 2024, Katipult held $0.4 million in cash and equivalents, with a working capital deficit of $4.0 million. A new $250,000 loan from Adventure Capital was secured, carrying a 15% interest rate. Katipult also announced the departure of director George Reznik.

Katipult Technology Corp. (TSXV: FUND) reported its 2023 Q4 financial results with a 37% increase in subscription revenue, a gross profit percentage of 81.8%, and a decrease in Adjusted EBITDA losses. However, the net loss was ($288,000) due to non-cash fair value changes. The 's financial position showed a decline in cash and working capital, attributed to renegotiating terms of a convertible debenture.

Katipult Technology Corp. appoints Beth Shaw of QB Advisory Group Inc. as a Strategic Advisor, leveraging her extensive experience in the capital markets industry. Shaw's background includes leadership roles at Echelon Wealth Partners and Desjardins Securities, as well as active involvement in industry development through various organizations. Her appointment reflects Katipult's dedication to enhancing capabilities and strategic direction in the financial technology sector.

Katipult Technology Corp. reports a 55% increase in deals facilitated through its DealFlow platform, with over $647 million in capital raises during 2023. Despite economic headwinds, enterprise customers raised 71% more capital than in 2022, completing deals valued at $545 million. The platform also saw a 55% increase in the total number of deals launched and a 10% increase in average deal value. Additionally, enterprise transactions experienced 6.8% growth, reaching 19,018 transactions in 2023, with an increase in the average transaction value to $78,000 per transaction. Katipult's CEO, Gord Breese, attributes these improvements to the modern workflows introduced by the DealFlow product, resulting in faster deal closings, lower investor friction, and more successful capital raising efforts.

Katipult Technology Corp. (TSXV: FUND) announces its financial results for the third quarter of 2023. Revenue increased by 44.5% to $721,000, with enterprise customer revenue growing by 90.0%. Gross profit percentage was 84.0%, and adjusted EBITDA losses decreased to ($164,000). Net loss and comprehensive loss was ($195,000). The Corporation had a cash and cash equivalents balance of $1.2 million and total assets of $1.2 million as of September 30, 2023.