MRBLF - Marble Reports 2nd Quarter Financial Results & Highlights

(TheNewswire)

Vancouver, BC - TheNewswire - September 01, 2021 - Marble Financial Inc. (C NSX :MRBL .CN) ( OTC:MRBLF ) ( FSE:2V0) (“Marble” or the “Company”), an AI-driven financialtechnology company that educates and helps Canadians better understandand manage their current cash flow and credit towards a betterfinancial future, announces interim consolidated finances statements(the “Interim Financial Statements”) and management’s discussionand analysis (“MD&A”) for Q2 2021, representing the threemonths ended June 30, 2021. Copies of the Interim Financial Statementsand MD&A are available on the Company's website and profile on SEDAR .

“The second quarter of 2021 was an extremelystrategic period to help shape the growth of Marble. BuildingCanada’s most advanced virtual financial wellness solution, MyMarble, we have further expanded the reachof our services to millions of Canadians through key partnerships andacquisition,” said Karim Nanji, Marble CEO. “The groundwork wehave completed behind the scenes, along with the acquisition of Inverite , our B2B bank verification and riskscoring SaaS solution, paves the way for continual user growth andrevenue for the balance of the year and beyond. Inverite has helped Marble accelerate larger key partnerships that weexpect to close and announce throughout the balance of theyear.”

Financial Highlights

• - Marble’s total revenue for the three- andsix-months ending June 30, 2021 over the same periods in 2020 were$269,910 and $453,368, an increase of 206% and 160%respectively.

• - Accelerating its MyMarble subscription revenue, Marble achieved quarterly revenue of$78,265 in Q2 2021, compared to $44,098 in the same period in 2021, anincrease of 77%.
  

  - Marble generated interest revenue from its Fast-Track loan portfolio of $167,993 in Q22021 (2020 - $185,948). The decrease is primarily due to a lowernumber of consumer loans outstanding during the period. The Companyanticipates with the $10 million credit facility agreement enteredinto with Cypress Hills Partners Inc. that it will be able to re-startits Fast-Track loan program.
  

  - Inverite, acquired on April 12, 2021, generated $125,298in Q2 2021 (2020 - ) of verification fees from its dataverification technology.
  

  - Marble administration costs during Q2 2021 were$495,094 (2020 - $146,451) which increased from the prior year due tothe growth of the operations, including the operations of Inverite acquired in April 2021, as the Company works on expanding itsproduct offerings. Administration costs are largely comprised ofoffice expenses, loan issuance costs, computer and technologyexpenses, telephone and utilities.
  

  - Marble incurred a net loss of $1,199,349 for the three months endedJune 30, 2021 (2020 – $824,762). The increase in the loss isprimarily due to increased operating expenses as the Marble incurredincreased administrative costs to facilitate the growth ofoperations.
  

Business & OperationHighlights

• - Net new MyMarble members ofapproximately 2920, up average 5.34% month over month; total membersreached 20,209 at quarter-end.
  

  - Inverite’s monthly transaction volume has increased from61,992 in April to 70,529 in June, with an average transaction volumeincrease of 6.68% month over month.
  

  -Inverite’s artificial intelligence (“AI”) and machinelearning has accumulated financial data on over one million Canadiansfor its proprietary risk scoring offered to its clients.
  

  -MyMarble’s Financial Literacy Platform MarbleLearn saw new course enrollments ofapproximately 1,100, increasing the total enrollments by55%.
  

Strategic Initiatives &Subsequent Events

• - In April 2021, Marble closes the acquisition of Inverite .
  

  - In April 2021, Marble further expands its affiliateprogram with Fintel Connect gaining access to its 1,200+ publishernetwork to increase qualified lead generation.
  

  - In April 2021, Marble launches a performancemarketing program with 55Rush and its Parent Life Network.
  

  - In May 2021, Marble expanding its product offeringson the MyMarble Platform with the launch of a GICSavings Loan with Jenson Graf Risk Management Inc.
  

  - In May 2021, Marble’s subsidiary, Inverite announces product and security enhancement compliance withSOC 2 Type 1 Standards.
  

  - In June 2021, Marble announces its first digital APIintegration ( Marble Connect ) with Nuborrow.
  

  - In June 2021, Marble launches a new Marketing programwith Venngo as its first financial wellness technology solutionprovider, reaching over one million consumers.
  

  - In June 2021, Inverite enters a dataverification engagement with one of Canada’s largest powersportfinancing companies.

Outlook

2020 was an extremely productive and metamorphic yearfor Marble’s business and projected financial position. Withextensive technological development, substantial partner growthopportunities, and data acquisition for new net user growth andconversion, sets a solid foundation towards profitability. Marbleexpects to continue its investment in technological and user growthinvestments to spearhead substantial member and revenue growth for thebalance of this year and beyond. Marble will directly focus on:

• - A continued increase in new Marble membersadditions.
  

  - Accelerated growth in business-to-business servicerevenue.
  

  - Increase in revenue through MarbleConnect and Resellers including the subscriptionas an add-on to their own products.
  

  - Expansion plans to enter the US Market in Q42021.
  

About Marble Financial Inc. (CSE:MRBL; OTC: MRBLF; FSE:2V0) Marbles’proprietary MyMarble platform utilizes the power ofmachine learning, data science, and artificial intelligence, inleveraging its proven data-driven strategies through technologysolutions Inverite, Score-Up, Fast Track and Maestro to engage in andnavigate a clear path towards financial wellbeing and a meaningfulcredit score, since 2016, Marble is proud to have empowered thousandsof marginalized consumers to a positive financial future, and wecontinue to establish ourselves as leaders in financial wellnessthrough the licensing of our proprietary products on the MyMarble Platform.

For further information about Marble Financial, pleasevisit: https://mymarble.ca

Mike Marrandino, ExecutiveChairman

T:(855) 661-2390 ext. 104   Email: ir@marblefinancial.ca

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITSREGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITYFOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Caution Regarding Forward-LookingInformation

This release contains forward-looking statements.Forward-looking statements, without limitation, may contain the wordsbelieves, expects, anticipates, estimates, intends, plans, or similarexpressions. Forward-looking statements are not guaranteeing of futureperformance. They involve risks, uncertainties and assumptions andactual results could differ materially from those anticipated. Forwardlooking statements are based on the opinions and estimates ofmanagement at the date the statements are made and are subject to avariety of risks and uncertainties and other factors that could causeactual events or results to differ materially from those projected inthe forward-looking statements. Except forhistorical facts, the statements in this news release, as well as oralstatements or other written statements made or to be made by Marble,are forward-looking and involve risks and uncertainties. The forward-looking information included in this release isexpressly qualified in its entirety by this cautionary statement.Accordingly, readers should not place undue reliance onforward-looking information. The Company undertakes no obligation toupdate these forward-looking statements, other than as required byapplicable law.

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