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POSaBIT Preannounces Record Q3 Revenue of $6.36 Million, Up 177%
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
POSaBIT Systems Corporation (OTC: POSAF) reports a significant revenue increase for Q3 2021, expecting approximately $6.36 million, a 177% rise from $2.3 million in Q3 2020. The company is also revising its conference call date for earnings announcement, expected on or before November 30, 2021. POSaBIT specializes in blockchain-enabled payment processing for cash-only businesses, notably in the cannabis sector, providing innovative and compliant solutions.
Positive
Q3 2021 revenue expected at $6.36 million, up 177% YoY.
Strong market position as a leading provider in cannabis payment solutions.
Negative
None.
Revises Q3 2021 Conference Call Timing
TORONTO & SEATTLE--(BUSINESS WIRE)--
POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF), the leading provider of point of sale software and payments infrastructure in the cannabis industry, today announced certain preliminary financial results for the third quarter ended September 30, 2021.
The company expects total revenue of approximately $6.36 million, up 177% compared with $2.3 million in the third quarter of 2020.
Conference Call
POSaBIT is pleased to report strong revenue. The company is working on allocations between cost of goods and operating expenses. POSaBIT will report the remaining financial items in the coming weeks and announce the revised date for an earnings conference call, anticipated to be on or before November 30, 2021.
About POSaBIT
POSaBIT (CSE: PBIT) is a financial technology company that delivers unique and innovative blockchain-enabled payment processing and point-of-sale systems for cash-only businesses. POSaBIT specializes in resolving pain points for complex, high-risk, emerging industries like cannabis with an all-in-one solution that is compliant, user-friendly, and utilizes top-of-the-line hardware. POSaBIT’s unique solution provides a safe and transparent environment for merchants while creating a better overall experience for the consumer. For additional information, visit www.posabit.com.
POSaBIT expects approximately $6.36 million in revenue for Q3 2021, a 177% increase from Q3 2020.
When will POSaBIT announce its earnings call?
The earnings conference call for POSaBIT is anticipated to be scheduled on or before November 30, 2021.
What does POSaBIT specialize in?
POSaBIT specializes in blockchain-enabled payment processing and point-of-sale systems for cash-only businesses, particularly in the cannabis industry.
How does POSaBIT's revenue compare to last year?
POSaBIT's expected revenue of $6.36 million for Q3 2021 represents a 177% increase compared to $2.3 million in Q3 2020.
