2023-05-31 16:30:04 ET
- POSaBIT Systems press release ( OTCQX:POSAF ): Q1 Revenue of $11.5M (+82.5% Y/Y).
- Gross profit was $2.3 million, or 20% of revenue, up 56% on a dollar basis compared with $1.5 million, or 24% of revenue, in the first quarter of 2022.
- Operating loss was $(2.9) million, inclusive of a $0.3 million non-cash change in the fair value of foreign currencies, compared with an operating loss of $(2.0) million, inclusive of a $(0.3) non-cash change in the fair value of foreign currencies, in the first quarter of 2022.
- Net loss was $(3.0) million, inclusive of a $0.1 million non-cash change in fair value of derivative liabilities, compared with a net loss of $(0.5) million, inclusive of a $1.6 million non-cash change in fair value of derivative liabilities in the first quarter of 2022.
- Adjusted EBITDA was $(1.9) million, or (17)% of revenue, compared with $(1) million, or (20)% of revenue, in the first quarter of 2022.
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As of March 31, 2023, the company had cash and cash equivalents of $7.3 million compared to $3.1 million as of December 31, 2022.
For further details see:
POSaBIT Systems reports Q1 results