XS Financial Posts Record Year with over $108 Million in Total Capex Financing Commitments
XS Financial Inc. (XSHLF) announced a record year for 2021, achieving a remarkable 420% increase in closed lease transactions totaling $34.3 million. The company also secured $106.3 million in new commitments, a 549% rise, positioning it for strong growth in 2022. Fundraising efforts were robust, with $76.3 million raised, facilitating further expansion. Active leases increased significantly, indicating a growing customer base and potential revenue streams in the cannabis financing sector.
- 420% year-over-year increase in closed lease transactions to $34.3 million.
- 549% year-over-year growth in new commitments to $106.3 million.
- $76.3 million raised for future lease deployment.
- None.
LOS ANGELES, CA / ACCESSWIRE / February 15, 2022 / XS Financial Inc. ("XS Financial", "XSF" or the "Company") (CSE:XSF)(OTCQB:XSHLF), a specialty finance company providing equipment financing solutions to cannabis companies in the United States, is pleased to announce the following updates as of the year ended December 31, 2021. All amounts are expressed in U.S. dollars.
Advancing its position as a leading CAPEX financing company to the legal U.S. cannabis industry, XS Financial is pleased to announce that for the year ended December 31, 2021, the Company completed
XSF also had a record year in 2021 for fundraising. In 2021, the Company raised a total of
Year End 2021 Portfolio Highlights
As of Q1/21 | As of Q2/21 | As of Q3/21 | As of Q4/21 | |
| # of Active Leases | 24 | 38 | 51 | 63 |
| Total Closed Leases | ||||
| Monthly Recurring Payments | ||||
| Gross Lease Receivables |
David Kivitz, CEO of XS Financial, commented: "On the back of a record year for the business, we are well-positioned for growth in the coming year. We have provided several of our largest customers increased commitments for their growth and are engaged in numerous discussions with several new prospective borrowers. We have recently added staff to our business development and credit review departments to enhance our growth trajectory while ensuring we maintain our turnaround times as our activity increases, which our customers and partners have come to rely upon. We are looking forward to 2022 which should be another banner year for the business."
About XS Financial
Founded in 2017, XS Financial specializes in providing CAPEX financing solutions to cannabis companies in the United States, including cultivators, processors, manufacturers and testing laboratories. In addition, XSF has partnered with over 200 original equipment manufacturers (OEM) through its network of Preferred Vendor partnerships. This powerful dynamic provides an end-to-end solution for customers which results in recurring revenues, strong profit margins, and a proven business model for XSF stakeholders. The Company's subordinate voting shares are traded on the Canadian Securities Exchange under the symbol "XSF". For more information, visit: www.xsfinancial.com.
For inquiries please contact:
For inquiries please contact:
David Kivitz
Chief Executive Officer
Antony Radbod
Chief Operating Officer
Tel: 1-310-683-2336
Email: ir@xsfinancial.com
Forward-Looking Information
This press release contains "forward-looking information" and may also contain statements that may constitute "forward-looking statements", collectively "forward-looking information", within the meaning of applicable Canadian securities legislation. Such forward-looking information is not representative of historical facts or information or current condition, but instead represent the beliefs and expectations regarding future events about the business and the industry and markets in which XS Financial operates, as well as plans or objectives of management, many of which, by their nature, are inherently uncertain. Generally, such forward-looking information can be identified by the use of terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". Forward-looking information contained herein may include but is not limited to, any additional leasing opportunities and the ability to capitalize on such and the timing thereof. Forward-looking information is not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Accordingly, readers should not place undue reliance on forward-looking information, which are qualified in their entirety by this cautionary statement. XS Financial Inc., does not undertake any obligation to release publicly any revisions for updating any voluntary forward-looking information, except as required by applicable securities law.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE: XS Financial
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FAQ
What was the closed lease transaction amount reported by XS Financial for 2021?
How much did XS Financial raise in 2021 for financing?
What is the year-over-year increase in new financing commitments for XS Financial?
What major growth did XS Financial experience in 2021?
