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XS Financial Inc. (XSHLF) is a specialty finance company that offers CAPEX and equipment financing solutions to cannabis businesses in the US. Established in 2017, XS Financial has reported record annual revenue of $11.7M and net distributable earnings of $0.4M in 2023. Led by CEO David Kivitz, the company focuses on expanding its customer base, improving operational efficiencies, and optimizing its balance sheet. With over 250 OEM partnerships, XS Financial provides end-to-end financing solutions to its clients, resulting in recurring revenues and strong profit margins.
XS Financial, a specialty finance company catering to U.S. cannabis businesses, announced its Q1 2024 financial results. The company reported a net distributable earnings increase of 1,331% YoY to $275,000, despite a 6% decline in revenue to $2.7 million and a 9% drop in gross lease receivables to $96.2 million. Operating expenses fell by 61% to $913,457, while net income reached $217,349, up from a loss of $1.99 million in Q1 2023. Key developments included four new lease schedules with Ayr Wellness valued at $1.2 million. XS Financial aims to expand its customer base and optimize operations, with $26 million available from its $54 million credit line.
XS Financial (CSE:XSF, OTCQB:XSHLF), a specialty finance company for the cannabis industry, will release its Q1 2024 financial results on May 29, 2024, after market close.
The company will host a conference call and webcast to discuss the results the same day at 2:00 p.m. Pacific (5:00 p.m. Eastern).
The unaudited financial statements and management’s discussion for the quarter will be available on SEDAR and the company’s website.
XS Financial Inc. (CSE:XSF) has appointed Mr. Bryan Karen from Marblegate Asset Management to its Board of Directors, replacing Andrew Mitchell. CEO David Kivitz expects Bryan's expertise to bring significant value to the Board, emphasizing transparency, corporate governance, and enhanced shareholder oversight.
XS Financial Inc. reports its financial results for Q4/23 and full year 2023, showcasing a 54% YoY increase in annual revenue to $11.7 million and a 142% YoY improvement in net distributable earnings to $0.4 million. Despite challenges with a customer potentially rejecting leases, the company remains optimistic about industry growth in 2024.
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