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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 Inc. has appointed Stephen Christoffersen as the new Chief Financial Officer, succeeding Nelson Lamb. Christoffersen, a seasoned finance executive with over 15 years in capital markets and operations, has been on the company's Board since May 2019. He previously served as CFO at KushCo Holdings, where he successfully led a business turnaround. Christoffersen expressed optimism about XS Financial's future, highlighting growth in their pipeline and improvements in capital costs. The firm, founded in 2017, provides financing solutions to the cannabis sector and has partnered with over 250 equipment manufacturers.
XS Financial has announced a new $15 million CAPEX lease agreement with Green Dragon / Eaze, a leading cannabis operator. The facility allows for an immediate drawdown of over $2 million to enhance processing capabilities and support expansion in Florida and Colorado. CFO Trey Handley praised the non-dilutive financing for its potential benefits to shareholders, while CEO David Kivitz emphasized XS Financial's growing reputation in the industry. This agreement marks a significant step in supporting the rapid growth of the cannabis market.
XS Financial Inc. has entered into a lease agreement with Temescal Wellness, a leading cannabis operator in Massachusetts, for a $3 million equipment lease facility. This financing will support the acquisition of new equipment over a 60-month term, aimed at enhancing the capabilities of existing processing facilities. Temescal Wellness is expanding its operations, including a new cultivation facility in North Adams. XS Financial continues to solidify its role in the cannabis financing sector, having partnered with over 250 manufacturers.
XS Financial reported a robust first quarter with a 210% year-over-year increase in revenue, reaching $1.3 million, compared to $0.4 million in the previous year. Monthly recurring payments surged by 368% to $1.4 million. The company achieved a positive EBITDA of $0.2 million, contrasting with a loss of $0.4 million in Q1/21. Additionally, XS Financial added two new customers, increasing its total to 10 customers. However, the net loss for the quarter was $1.7 million, up from $0.4 million the prior year.
XS Financial (CSE:XSF, OTCQB:XSHLF) will report its first quarter financial results for 2022 on May 26, 2022, after market close. An earnings call will follow on the same day at 1:30 p.m. Pacific (4:30 p.m. Eastern). Financial statements and management's discussion will be available on SEDAR and the company’s website. XS Financial specializes in providing CAPEX and equipment financing solutions to the U.S. cannabis industry and has established partnerships with over 150 OEMs, enhancing its financial offerings.
XS Financial Inc. has announced that it has upsized its lease facility with Ayr Wellness to $37.4 million, including an immediate drawdown of $12 million. This increases total usage to over $33.1 million. Brad Asher, CFO of AYR, emphasized the smooth collaboration with XS Financial, while David Kivitz, CEO of XS Financial, expressed excitement over expanding their relationship as AYR's needs grow. AYR is a leading U.S. cannabis operator focused on high-quality cannabis production.
XS Financial reported a significant 367% year-over-year revenue increase to $3.2 million in 2021, up from $0.7 million in 2020. The fourth quarter alone saw a 281% revenue growth reaching $1.2 million. The company raised $80 million in capital and maintained a 0% default rate in its lease portfolio. Despite these positives, XS Financial reported a net loss of $1.5 million in Q4/21, compared to a loss of $667,086 in Q4/20. Overall, XS Financial is optimistic about 2022, with early operations showing positive momentum and a funding capacity of $46.1 million.
XS Financial Inc. (CSE:XSF, OTCQB:XSHLF) will report its financial results for the year ended December 31, 2021, on May 2, 2022, after market close. A conference call will be held at 1:30 p.m. Pacific (4:30 p.m. Eastern) to discuss the results. Financial statements will be available on SEDAR and the company's website. XS Financial specializes in providing competitive, non-dilutive CAPEX financing for U.S. cannabis companies, partnering with over 150 OEMs to enhance its service offerings.
XS Financial (CSE:XSF) will participate in the Benzinga Cannabis Capital Conference on April 20-21, 2022, at Fontainebleau Miami Beach, Florida. The company specializes in CAPEX and equipment financing solutions for the U.S. cannabis industry, partnering with over 150 OEMs to provide access to competitively priced financing. The event will feature one-on-one meetings with investors. Founded in 2017, XS Financial aims to support cannabis cultivators, processors, and manufacturers, fostering recurring revenues and strong profit margins. For more details, visit www.xsfinancial.com.
XS Financial will participate in the BTIG Global Cannabis Conference on April 6, 2022, at 10:30 AM EST, featuring a fireside chat with CEO David Kivitz. The conference aims to connect cannabis companies with potential investors and industry experts. XS Financial specializes in providing non-dilutive CAPEX and equipment financing solutions to the U.S. cannabis industry, with partnerships involving over 150 OEMs. The company's shares are traded on the CSE as 'XSF' and on OTCQB as 'XSHLF'. For more details, visit www.xsfinancial.com.
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