Givex Announces Fiscal Year and Fourth Quarter 2021 Financial Results
Givex (TSX: GIVX; OTCQX: GIVXF) is pleased to present its financial results for the fiscal year and three-month period ending Dec. 31, 2021.
Givex reports in Canadian dollars and in accordance with International Financial Reporting Standards.
“Our steady revenue growth and solid earnings reflect Givex’s commitment to increasing revenue with consistent EBITDA margins,” said Givex CEO Don Gray. “We increased our point of sale gross transaction volume by an incredible 54 per cent, and increased our total number of customer locations to 100,000 despite the pandemic-related challenges faced by our retail, restaurant and hospitality partners in 2021.”
Mr. Gray added: “Our recent private placement, in connection with our listing on the Toronto Stock Exchange, strengthened our cash position to $35 million. This cash will be used to enhance our technology, make strategic acquisitions and at the same time keep our balance sheet healthy.”
Fiscal Year Financial Highlights
(All comparisons are relative to the 12-month period ending Dec. 31, 2020)
- Revenue grew 7.1% to $55.2 million
- Gross transaction volume (GTV) increased 19% to $6.5 billion
- POS gross transaction volume (POS GTV) increased 54% to $793 million
- Adjusted EBITDA was $8.3 million in 2021 compared to $9 million in 2020 (However, when normalized for the Canadian Government’s COVID-19 wage subsidy, which was $1 million in 2021 compared to $3.3 million in 2020, adjusted EBITDA increased 28% in 2021 compared to 2020)
- Customer locations reached approximately 100,000, an increase of 5,000
- Completed reverse takeover transaction and listing on the Toronto Stock Exchange and concurrently raised $22 million through a private placement
Fourth Quarter Financial Highlights
(All comparisons are relative to the three-month period ending Dec. 31, 2020)
- Revenue decreased 4% to $15.2 million primarily due to increased COVID-19 pandemic restrictions in the fourth quarter of 2021
- POS GTV increased 81% to $269 million
- Adjusted EBITDA was $2.4 million in 2021 compared to $2.9 million in 2020 mainly because of the revenue decrease noted above
- POS locations increased 42% to 1,201
Additional financial information, such as the audited annual Consolidated Financial Statements, Management’s Discussion and Analysis of Financial Condition and Results of Operations, and Annual Information Form, is available on the company’s SEDAR at sedar.com.
More information about Givex, including the Management Presentation and Overview, are posted on the company’s investor relations website at investors.givex.com.
Givex (TSX: GIVX; OTCQX: GIVXF) is a global fintech company providing merchants with customer engagement, point of sale, and payment solutions in a single platform. We are integrated with more than 1,000 technology partners, creating a fully end-to-end solution that delivers powerful customer insights. Our platform is used by some of the world’s largest brands, comprising approximately 113,000 locations across more than 100 countries.