Welcome to our dedicated page for ShiftPixy news (Ticker: PIXY), a resource for investors and traders seeking the latest updates and insights on ShiftPixy stock.
ShiftPixy, Inc. (NASDAQ: PIXY) is a leading player in the Gig Economy, providing a revolutionary platform for managing part-time and shift-based employment. The company's disruptive human capital management system enables businesses to seamlessly sync work opportunities with the available time slots of shift workers. This innovative approach eliminates the need for formal job interviews and long-term commitments, offering a flexible solution for both job providers and workers.
ShiftPixy’s platform leverages advanced mobile engagement technology to help businesses navigate complex regulatory mandates, minimize administrative burdens, and connect with a ready-to-hire workforce. The company's app allows shift workers, referred to as “shifters,” to enroll, create profiles, and prequalify for open shift opportunities based on their work and training experience. This ensures a higher match rate and more efficient staffing for businesses.
Operating primarily in California and Washington, ShiftPixy generates key revenue from Californian clientele. The company’s gross billings, which include clients' fully burdened payroll costs, serve as a significant operating metric. ShiftPixy is also expanding its national footprint by engaging with industrial, medical, and technology staffing companies.
Recently, ShiftPixy has integrated Artificial Intelligence (AI) into its platform to streamline processes such as onboarding and instant interviews. Powered by IBM's Watson, the AI enhancements allow new employees to complete onboarding quickly and efficiently, while also enabling job seekers to participate in virtual interviews via their smartphones. This technological advancement helps reduce turnover and improve engagement.
In an effort to recapitalize, ShiftPixy has been conducting a reverse stock split and exploring new financial avenues, including a sizeable debt facility to fund acquisitions. The company has three Letters of Intent with firms moving towards definitive agreements, aiming to close one acquisition per month through 2024.
ShiftPixy’s innovative solutions are not only transforming employment practices but are also addressing compliance and equitable employment demands in the growing gig economy. Investors and stakeholders are encouraged to stay updated on the company's progress through ongoing interviews and announcements.
ShiftPixy, Inc. (NASDAQ: PIXY), a Florida-based staffing enterprise, announced participation in the Wolfe Consumer Growth Conference on December 14. The company focuses on revolutionizing human capital management for shift-based employees in the Gig Economy. Their platform minimizes administrative burdens and ensures compliance with regulations. ShiftPixy emphasizes its experience in workers' compensation and compliance. The release includes cautionary statements about risks and uncertainties affecting future performance, urging stakeholders to consider various factors that could impact financial results.
ShiftPixy (NASDAQ:PIXY) reported significant growth for the fiscal year ending August 31, 2021. Annual revenues surged by 171% to $23.4 million, driven by increased billings and a shift in the staffing revenue model. While administrative fees rose 20%, gross profit declined by $0.6 million due to rising workers’ compensation costs. Total operating expenses reached $28.3 million, a 25.6% increase. The company is well-positioned for expansion with over 40,000 worksite employees and has launched key initiatives including SPAC sponsorships and the ShiftPixy Labs project.
ShiftPixy, Inc. (NASDAQ: PIXY), a staffing enterprise based in Florida, will present at the Sidoti Virtual Conference on December 8, 2021, at 1:45 pm ET. The company specializes in a disruptive human capital management platform designed for the Gig Economy, helping businesses manage shift-based employees. ShiftPixy aims to simplify compliance and enhance connections within the workforce. The Company cautions that forward-looking statements involve risks and uncertainties that may affect actual results.
ShiftPixy, Inc. (NASDAQ: PIXY) announced the promotion of Amanda Murphy to Chief Operating Officer, effective January 1, 2022. Murphy has been with the company since 2016, serving as Director of Operations and joining the Board in April 2020. CEO Scott Absher highlighted her critical role in the company’s success and the importance of her leadership as ShiftPixy embarks on its next growth phase following the completion of its SPAC, Industrial Human Capital, Inc. (NYSE: AXH/U). ShiftPixy aims to revolutionize employment in the Gig Economy through its innovative human capital management platform.
ShiftPixy (PIXY) has successfully completed the IPO of Industrial Human Capital, Inc. (AXHU), raising funds by selling 11.5 million units at $10 each. This includes an over-allotment option for an additional 1.5 million units. The units began trading on the NYSE on October 20, 2021. ShiftPixy aims to utilize its platform to integrate 100,000 employees into its ecosystem, potentially leading to an annual revenue increase of up to $1 billion and pre-tax earnings of $50 million. The company anticipates significant growth through client agreements with IHC.
ShiftPixy, Inc. (NASDAQ: PIXY) has formed an agreement in principle with Quelliv, Inc. to distribute the Genesis One laser device, enhancing safety for restaurants and retailers amidst COVID-19. This technology has been independently tested for its effectiveness in killing viruses in realistic settings. ShiftPixy aims to offer the system as part of its services to clients, with a major rollout planned for 2022. This partnership is a strategic move to support clients in maintaining cleaner environments as pandemic concerns linger.
ShiftPixy, Inc. (NASDAQ:PIXY) has entered a securities purchase agreement for a private placement of common stock and warrants, aiming to raise approximately $12 million. The deal involves selling 2,850,000 shares with accompanying warrants at $1.595 each, and 4,673,511 pre-funded warrants at $1.5949. The funds will be used for general corporate purposes, including operating expenses and investments related to special purpose acquisition companies. The placement is expected to close on September 3, 2021, pending customary conditions.
ShiftPixy, Inc. (NASDAQ: PIXY) will present at the Sidoti August Microcap Conference on August 19, 2021, at 9:15 am ET. The virtual presentation will outline the company’s innovative human capital management platform designed for the Gig Economy, enhancing connections between businesses and shift-based employees while addressing compliance challenges. With nearly 25 years of experience in workers’ compensation, ShiftPixy aims to revolutionize equitable employment practices. Investors can access the presentation here.
ShiftPixy, Inc. (NASDAQ: PIXY), a national staffing enterprise, will present at the D.A. Davidson Bison Select Conference on August 4, 2021, at 11:00 am ET. The virtual event will feature discussions with C-suite executives from micro to small-cap companies. ShiftPixy offers a disruptive human capital management platform aimed at improving employment in the Gig Economy, utilizing mobile technology to aid businesses with shift-based employees. The company stresses the importance of compliance and equitable practices in the evolving labor market.
ShiftPixy, Inc. (NASDAQ: PIXY) announced its participation in the Emerging Growth Conference on July 21, 2021. The virtual presentation will begin at 12:30 ET and can be accessed here. ShiftPixy is a staffing enterprise focusing on a human capital management platform that supports businesses with shift-based employees in the Gig Economy, enhancing regulatory compliance and operational efficiency.
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