PAYFARE INC - PYFRF STOCK NEWS

Payfare Inc. announced unaudited fourth quarter and full-year 2023 financial results, showcasing significant revenue growth, user base expansion, and positive financial performance. The company reported record revenue of $50.0 million in Q4 2023, a 30% increase from 2022, with net income of $4.9 million. For the full year 2023, Payfare achieved record revenue of $186.0 million, a 43% increase from 2022, with total gross dollar value reaching $11.8 billion. The company also issued strategic objectives for 2024, expecting revenue of $235 to $245 million and Adjusted EBITDA of $30 to $35 million, showcasing continued growth and expansion plans. Payfare provided updates on partnerships, new business verticals, and financial filings, highlighting ongoing efforts to drive innovation and growth in the fintech sector.

Payfare Inc. announces a delay in filing its audited annual financial statements due to a vendor's delay in providing the required SOC 1 report. The company reaffirms its 2023 revenue and earnings guidance, applies for a management cease trade order, and plans to file the Annual Filings by April 12, 2024. The delay is solely attributed to the vendor's report delay, with no impact on the company's financial outlook.

Payfare Inc. reaffirms its fourth quarter 2023 revenue and Adjusted EBITDA guidance of $50 million and $7 million, respectively. The company delays its earnings release to April 1, 2024, due to a missing SOC 1 report from a key service provider, but assures no impact on financial outlook.

Uber partners with Mastercard and Payfare to launch the Uber Pro Card, offering free instant payouts, cashback rewards on gas and EV charging, and enhanced loyalty features for drivers and delivery people in Canada.

Payfare Inc. announces a significant increase in active users, reaching over 1,400,000 as of December 31, 2023, marking a 16% growth from the previous quarter and a 33% increase from the same period in 2022. The company's CEO, Marco Margiotta, highlights the best quarterly active user growth in Q4 2023 and expresses optimism about the upcoming financial results and growth outlook for the year ahead.

Payfare Inc. (TSX: PAY) (OTCQX: PYFRF) announced record quarterly profitability in Q3 2023, with net income of $4.8 million and Adjusted net income per share of $0.16. Revenue increased by 35% to $47.2 million, active users grew by 32% to 1,211,275, and total gross dollar value increased by 40% to $3.0 billion. The company also issued Q4 2023 revenue and Adjusted EBITDA guidance of $50 million and $7 million respectively.

Payfare Inc. will host a conference call on November 8, 2023, at 6:30 p.m. ET to discuss the Company's financial results for Q3 2023. The complete financial results will be released shortly after market close on the same day. An archived recording of the conference call will be available until December 8, 2023.

Payfare Inc. highlights transformational performance achieved year-to-date. Financial highlights include a 57% increase in revenue to $88.8 million and a 34% increase in active users. Net income increased by 168% to $3.4 million. Payfare also announced successful partnerships and expansion of services. Share price volatility does not impact growth initiatives.

Payfare Inc. reported net income of $2.1 million and adjusted net income per share of $0.10 in Q2 2023. The company's revenue increased by $13.9 million (+43%) compared to the same period last year, reaching a record $46.5 million. Payfare ended the quarter with 1,188,325 active users, a 34% increase from Q2 2022. Total gross dollar value in Q2 2023 was $2.9 billion, up 46% from Q2 2022. The company also achieved adjusted EBITDA of $4.8 million and free cash flow of $0.6 million. Payfare's common shares now trade on the OTCQX Best Market in the United States.