XTM Reports 200% GDV Growth In 2022

Rhea-AI Summary

XTM Inc. reported a substantial revenue increase of 112% in Gross Dollar Value (GDV), a non-IFRS performance metric, for the year 2022, marking a 200% growth over 2021. The CEO, Marilyn Schaffer, expressed satisfaction with the results and highlighted the complexities brought by the rapid growth of transaction volumes. To further enhance its services, XTM is integrating new revenue streams, including the Today Goals™ subscription tool, and is set to launch its SAAS Timely™ module in the coming 30-45 days.

XTM operates in the fintech sector, providing payment solutions and staff management services to the hospitality and personal care industries. The company aims to facilitate earned wage access through its technology.

Positive

• Revenue increase of 112%, with GDV growing 200% over 2021.
• Launch of Today Goals™, an in-app subscription tool, indicating innovation in revenue streams.
• Upcoming implementation of SAAS Timely™ module, enhancing service offerings.

Negative

• None.

 A Revenue Increase of 112%

MIAMI & TORONTO--(BUSINESS WIRE)-- XTM Inc. (“XTM” or the “Company”) (QB: XTMIF / CSE:PAID / FSE:7XT), a Miami and Toronto-based Fintech creator of disruptive payment innovations and staff management solutions specifically for service industries including hospitality, personal care and service staff today announced that 2022’s Gross Dollar Value (“GDV”), a non-IFRS metric the Company monitors to track performance increased 200% over the previous year of 2021.

“We are pleased with our results, growth, innovations, and revenue,” said Marilyn Schaffer, XTM CEO. “Our rapid growth creates increased auditing complexity as it relates to huge volumes of transactions,” said Marilyn Schaffer, CEO, XTM. “We look forward to fully publishing our 2022 results and subsequent events that will further define us.”

On innovation includes the company adding ancillary revenue streams such as Today Goals™ in-app subscription-based and gamified budgeting tool, with a high conversion rate. As well, the company is now implementing its SAAS Timely™ module, time and attendance and staff management for employment agencies and professional employment organizations with a live date in 30-45 days.

About XTM

XTM, www.xtminc.com, is a Miami and Toronto-based fintech innovator in the neo-banking space, helping businesses and service workers in the hospitality and personal care space disseminate and access earned wages and gratuities. XTM's Today™ Solution, comprised of a free mobile app and a Visa or Mastercard debit card with free banking features, is used by thousands of restaurants, salons and staff across Canada and the United States. XTM is a global card issuer and real-time payment specialist and its technology is used by Restaurants and Salons at no charge to automate and expedite worker payouts and eliminate cash from their ecosystems. XTM's Today solution drives enterprise value with efficiency and a bespoke user experience designed specifically for restaurateurs and personal care services.

This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws (the “forward-looking statements”), within the meaning of applicable Canadian securities legislation. Forward-looking information is not a guarantee of future performance or results, since it involves risks and uncertainties. There is no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in forward-looking statements. Some of the factors on which the forward-looking statements are premised include (but are not limited to) the satisfaction or waiver of the conditions to the completion of the private placement, the receipt of the approval of the Canadian Securities Exchange, and the lack of material changes to general economic, market and business conditions. The CSE has not approved nor disapproved the contents of this press release, and the CSE does not accept responsibility for the adequacy or accuracy of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230426005598/en/

For further information please visit:

https://www.xtminc.com/ or contact:

Marilyn Schaffer

416.260.1641

finance@xtminc.com

Source: XTM Inc.

FAQ

What was XTM Inc.'s revenue growth percentage in 2022?

XTM Inc. reported a revenue increase of 112% in 2022.

How much did XTM's Gross Dollar Value grow from 2021 to 2022?

XTM's Gross Dollar Value grew by 200% from 2021 to 2022.

What new products is XTM Inc. launching?

XTM Inc. is launching Today Goals™, a budgeting tool, and the SAAS Timely™ module.

What industries does XTM Inc. serve?

XTM Inc. serves the hospitality and personal care industries.

Who is the CEO of XTM Inc.?

The CEO of XTM Inc. is Marilyn Schaffer.