Xtm Inc Stock Price, News & Analysis

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.

XTM, Inc. announced the initiation of payment solutions for hospitality staff at over 50 U.S. rooftops by partnering with three large restaurant chains. This rollout includes XTM's Today solution, which allows staff to access earned gratuities on the same day through a mobile app, digital account, and debit card. The service aims to improve staff retention and operational efficiency for restaurant clients. The phased implementation will occur over the next 60 days, enhancing cash flow for employees and supporting restaurant operations.

XTM, Inc. reported a remarkable 214% increase in revenue for Q1 2022, reaching $797K, compared to Q1 2021. The company's gross dollar value (GDV) loaded on its platform was nearly $70MM, up 313% year-over-year. Active users on the Today™ program soared to 49K, a 323% growth. Operating expenses rose to $1,576K, reflecting investments in growth initiatives. As of March 31, 2022, cash reserves totaled $6.4MM, down from $8.4MM at year-end due to operational funding requirements.

XTM, Inc. (QB: XTMIF / CSE:PAID / FSE:7XT), a fintech firm, has appointed Mr. Veer Siddiqui as Chief Operating Officer and General Counsel. With over 12 years in legal advisement, Siddiqui's background includes significant roles in technology law and corporate counsel, notably with Tasktop Technologies and Terramera. Furthermore, XTM has introduced a new equity incentive policy allowing ongoing issuance of restricted share units (RSUs) and stock options to attract and retain talent, totaling 1,000,000 RSUs and 2,500,000 options, aimed at boosting company growth and employee engagement.

XTM, Inc. has reported impressive growth in Gross Dollar Value (GDV), achieving a 54% increase in March and a further 6% rise in April 2022. March's peak GDV reached $1.7 million, followed by $1.8 million in April. CEO Marilyn Schaffer attributes this success to a resurgence in client engagement and consumer socialization as pandemic restrictions ease. The company remains financially strong with proceeds exceeding CAD $8.5 million from a previous funding round. XTM's model focuses on enhancing the user experience through mobile banking solutions.

XTM has partnered with the Massachusetts Restaurant Association (MRA) to offer valuable employee benefits, including Earned Wage Access, to MRA members. This collaboration supports the hospitality industry in Massachusetts, which boasts over 18,000 restaurants and employs a significant portion of the workforce. With nearly 60 new establishments onboarding within the last month, XTM aims to expand its U.S. presence. CEO Marilyn Schaffer emphasizes the partnership's role in helping restaurants attract and retain staff as they recover from shutdowns.