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Katipult Tech Corp Ord (KTPPF) is a provider of an award-winning cloud-based software infrastructure for powering the exchange of capital in equity and debt markets. Katipult's platform digitizes investment workflow, eliminates transaction redundancy, strengthens compliance, and accelerates deal flow. With a focus on enterprise customers, Katipult reported revenue growth of 44.5% in Q3 2023 and a gross profit percentage of 84.0%. The company's Adjusted EBITDA losses decreased to ($164,000) in Q3 2023. Katipult is committed to providing unparalleled adaptability for regulatory compliance, asset structure, and business model requirements.
Katipult Technology Corp. (TSXV: FUND) reported its Q3 2024 financial results, showing significant changes in key metrics. Subscription revenue decreased 68.3% to $218,000 from $688,000 in Q3 2023, primarily due to a one-time adjustment in enterprise client terms. Gross Profit Percentage declined to 56.9% from 84.0% year-over-year. While Adjusted EBITDA losses widened to ($477,000) from ($164,000), the company reported net income of $419,000 compared to a net loss of ($195,000) in Q3 2023. The company maintains $0.6 million in cash but faces working capital deficit of ($3.2 million), raising concerns about its ability to continue as a going concern.
Katipult Technology Corp (TSXV: FUND) has appointed Beth Shaw as its new Chief Executive Officer, effective immediately. Shaw brings over 30 years of experience in syndication and equity capital markets, having served as a strategic advisor to Katipult since February 2024. The appointment coincides with the departure of former CEO Gord Breese and Chairman Brian Craig. As part of her compensation, Shaw received options for 3,000,000 shares at an exercise price of $0.05, vesting over 3 years. The company, which provides software for equity and debt markets, aims to leverage Shaw's extensive capital markets experience to enhance its product offerings for investment dealers, wealth management firms, and private equity funds.
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.
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