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On May 12, 2021, Points International Ltd. (Nasdaq: PCOM) held its annual general meeting, where all shareholder resolutions were approved. Key outcomes included the reappointment of directors, with vote counts indicating strong shareholder support. For instance, David Adams received 7,615,600 shares in favor, while Jane Skoblo received 8,708,691. Shareholders also reappointed KPMG LLP as auditors, with 9,717,307 shares voting in favor. Points is recognized for its Loyalty Commerce Platform, which supports over 60 reward programs globally.
Points International Ltd. (TSX: PTS, Nasdaq: PCOM) reported its first-quarter 2021 financial results with total revenue increasing by 15% sequentially to $65 million, yet down 21% year-over-year due to COVID-19 impacts. Gross profit rose 6% quarter-over-quarter but fell 34% year-over-year. Adjusted EBITDA improved significantly to $1.2 million. The company's liquidity, bolstered by an equity offering, now stands at $94.2 million. Points continues to expand partnerships in the travel market, enhancing its service offerings amid rising consumer confidence in travel.
Points (NASDAQ: PCOM) and Qatar Airways have enhanced the Qatar Privilege Club, allowing members to earn and spend Qmiles through a new booking portal. This includes the launch of Hotel & Car Rewards, granting access to 350,000 hotels and 20,000 car rental locations worldwide. Members can earn Qmiles on cash bookings and utilize them for hotel or car rentals, enhancing flexibility. This partnership aims to elevate member engagement and streamline travel experiences.
Points International Ltd. (Nasdaq: PCOM) will hold a conference call on May 12, 2021, at 4:30 PM ET to discuss its Q1 financial results for 2021. The results will be released prior to the call. Interested parties can join via toll-free and international dial-in numbers. A replay will be available post-call through May 26, 2021. Points International is a leader in loyalty commerce, serving nearly 60 programs worldwide with its Loyalty Commerce Platform.
Points has launched the Rapid Rewards Points Subscription Plan in partnership with Southwest Airlines, allowing members to accumulate points conveniently. Available in three tiers (30k, 40k, 80k points), the plans automatically deposit points monthly, with bonus points quarterly. This service aims to enhance consumer engagement despite pandemic challenges, promoting long-term loyalty. CEO Rob MacLean emphasized the importance of innovation in member engagement. The new feature capitalizes on increased consumer interest in subscription models during the pandemic.
Points International Ltd. reported its financial results for Q4 2020, showing a 49% improvement in gross profit quarter-over-quarter. Total revenue for the quarter was $56.4 million, down from $107.0 million in Q4 2019, with a net loss of $0.7 million compared to a net income of $2.8 million last year. Adjusted EBITDA reached $0.4 million, a decrease from $7.2 million in the previous year. The company attributes its results to the persistent impact of COVID-19 while noting positive cash flow and strategic growth through partnerships.
Points International Ltd. (TSX: PTS) (Nasdaq: PCOM) will hold a conference call on March 3, 2021, at 4:30 p.m. ET to discuss its financial results for Q4 and the full year ending December 31, 2020. A press release reporting these results will be issued prior to the call. Interested parties can access the call via multiple dial-in numbers and listen to the replay available until March 17, 2021. Points, a leader in loyalty commerce, helps global loyalty programs optimize currency movement through its innovative platform.
Points International Ltd. (TSX: PTS, Nasdaq: PCOM) announced an intention to repurchase up to 661,370 common shares, representing approximately 5% of its outstanding shares, following acceptance by the Toronto Stock Exchange. The normal course issuer bid will commence on September 9, 2020, and conclude on September 8, 2021. An automatic share purchase plan has been established to facilitate these transactions, allowing repurchases during regulatory blackout periods. Previous bids saw 379,827 shares repurchased at an average price of Cdn $16.48.
Points International Ltd. (NASDAQ:PCOM) has been invited to present at the 9th Annual Gateway Conference on September 9-10, 2020. The presentation is scheduled for September 9 at 1:30 p.m. Pacific time, and will be available via live webcast. One-on-one meetings can be scheduled throughout the conference. This invite-only event connects leading companies with top institutional investors and analysts from various growth industries. Points International is known for its Loyalty Commerce Platform, supporting nearly 60 reward programs globally.
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