XTM INC - XTMIF STOCK NEWS

XTM Inc., a fintech company based in Miami and Toronto, is partnering with Restaurants Canada to offer a webinar aimed at protecting restaurants regarding gratuity payouts. This initiative follows a notable court case involving the Canadian Revenue Agency, which has raised concerns in the industry. The webinar will clarify important legal distinctions and propose actionable solutions for compliance. XTM's Today platform has reportedly achieved year-over-year growth of 224% in revenue, indicating a strong market performance.

XTM Inc. held its annual shareholder meeting on October 12, 2022, where shareholders approved all proposed matters, including the election of four directors and the appointment of MNP LLP as auditors. New directors Keith McKenzie and Olga Balanovskaya join returning members Marilyn Schaffer and Randy Khalaf. The resignation of Cameron Chell was also announced, marking a significant transition in the board's composition. The company is focused on growth and innovation in the neo-banking sector, enhancing access to earned wages for service workers.

XTM, Inc. (QB: XTMIF / CSE: PAID) has announced a major rebranding of its Today program, including a new website, logo, and the app 'Today Financial'. The program has seen substantial growth in membership and user engagement over the past year, indicating its effectiveness in supporting businesses in recruiting and retaining service workers. CEO Marilyn Schaffer emphasized the importance of user experience and brand identity in reflecting the company’s accelerated growth and commitment to improving employee payment solutions.

XTM, Inc. (CNSX:PAID / QB: XTMIF) has partnered with Terroir to provide same-day pay for food and beverage staff using its Today platform. This collaboration aims to address staffing challenges in the hospitality sector by offering immediate access to earned wages. XTM's Today solution, which includes a mobile app and a debit card, facilitates instant payouts for service workers in Canada and the U.S. The partnership underscores XTM's commitment to innovation in financial services for the hospitality industry.

XTM, Inc. (QB: XTMIF / CSE: PAID) has formed a strategic partnership with Foodtastic, a prominent restaurant franchisor with over 700 locations generating $700 million in sales. The agreement will implement XTM's Today™ program, enhancing payment efficiency and minimizing risks such as fraud for Foodtastic's franchisees. This initiative is aimed at streamlining operations and reducing costs, with no implementation fees for franchisees. The collaboration highlights XTM's role in facilitating timely wage access for contract and service workers, reinforcing its position in the fintech space.

XTM, Inc. announces new partnerships with franchisees of a prominent on-demand refuse pickup business, enabling drivers to receive same-day payment through its Today™ platform. The Today solution enhances wage access and expense management by allowing for seamless fund distribution for various operational costs such as fuel and maintenance. CEO Marilyn Schaffer emphasizes that this innovation addresses critical needs beyond hospitality and anticipates significant revenue growth. XTM positions itself as a leader in the fintech sector, streamlining payment processes for service workers.

XTM, Inc. reported a 224% increase in revenue to approximately $1.3MM for Q2 2022 compared to Q2 2021, driven largely by significant growth in its Today™ program. The Gross Dollar Value (GDV) loaded on its platform reached nearly $117MM, marking a 405% increase year-over-year. Active users surged by 262% to 58K in Q2 2022. However, operating expenses rose 88% to $2MM, mainly due to staffing and marketing investments. The company had $4.8MM in cash on hand as of June 30, 2022.

XTM, Inc. has launched new Tip Pool and Tip Share software solutions that can integrate with any time and attendance or POS platform. This innovation allows restaurant operators to implement the system within hours of registration. The software automates tip calculations and distributions, promoting efficiency and transparency for staff. CEO Marilyn Schaffer emphasized the importance of proper tip allocation in the hospitality sector, which can be legally sensitive. XTM aims to enhance operational efficiency with its technology-agnostic solutions, addressing the needs of various hospitality businesses.

XTM, Inc. reported significant growth in Gross Dollar Value (GDV), which increased by 14% in May, following a 6% rise in April and 54% in March 2022. This growth is attributed to new client signings and an increase in active users of its mobile banking and payment solutions. XTM's Today solution allows service workers immediate access to earned gratuities, benefiting both employees and restaurant operators.

CEO Marilyn Schaffer emphasized the company’s focus on expanding its user base and improving services, stating that XTM is more valuable than six months ago.