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Share Name | Share Symbol | Market | Type |
---|---|---|---|
XTM Inc | TG:7XT | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.0206 | 36.52% | 0.077 | 0.0688 | 0.0852 | 0.0754 | 0.0532 | 0.0532 | 77,200 | 22:50:02 |
US Revenue Increase YOY 328%, EWA Opt-Ins Up 251%, Strongest Revenue Quarter Since Inception
XTM, Inc. (“XTM” or the “Company”) (QB: XTMIF / CSE:PAID / FSE:7XT), a Miami and Toronto, Denver and London-based Fintech creator of payment innovations including fully certified Earned Wage Access (EWA) through its QRails AnyDay™ product announced the filings of its quarterly unaudited condensed consolidated Financial Statements and Management Discussion and Analysis (“MD&A”) for Q3 2023 which shows, among other things, traction with US revenue at a 328% increase over 2022 and the strongest revenue quarter in the company’s history.
The Company initiated its acquisition of QRails in March 2023 at which time, XTM assumed QRails operations including payroll and accounts payables. XTM closed its acquisition of QRails Inc. on August 18, 2023. The acquisition is strategic in that it accelerates XTM’s traction in the US market, making XTM the first certified and vertically integrated Earned Wage Access (EWA) provider in the world, positioning XTM to compete within the top three EWA providers globally with comparative valuations in the hundreds of millions to billions.
Highlights include:
Subsequent events:
About XTM
XTM is a Miami and Toronto, Denver and London-based Fintech creator of payment innovations including fully certified and vertically integrated Earned Wage Access through its QRails AnyDay™ product. Founded in the cloud-banking space to further support businesses to inspire their workforce in the hospitality, personal care and services staffing industries, XTM provides on-demand pay for many large brands including Earls, Maple Leaf Sports & Entertainment, Cactus Club, Marriott Hotels and Live Nation. XTM continues to innovate with further digital featurization to support businesses to inspire workers to want to work more with shift scheduling and call-outs, staff management, expense management, in-app health and financial wellness; and gamified loyalty programs. XTM's Today Financial™ is in use through POS and Payroll integrations and directly through web-portals by thousands of businesses and their workers across Canada and the United States.
About QRails / AnyDay
QRails Inc. (“QRails”) is a fully owned subsidiary of XTM. A cloud-based, API-driven issuer-processor QRails enables payroll providers, financial institutions and other global fintech companies to keep up with the on-demand economy by delivering innovative digital payment solutions to their employees. QRails helps companies modernize and leverage payroll as a differentiator in attracting and retaining talent all at low to no cost for the employee and employer. QRails’ flagship solution, AnyDay™, is the first provider to own their full tech stack that powers their Earned Wage Access solution.
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, including expected performance of XTM, the expectation that businesses with which XTM does business or have committed to do business will in the expected timeline, the continuing trend toward electronic payment methods, the success of XTM’s intended geographic and business expansions, the success of XTM’s new market relationships, and the general conditions and revenues of XTM. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. These forward-looking statements are made as of the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur.
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/20231130029696/en/
For further information please visit xtminc.com or contact: Marilyn Schaffer, CEO finance@xtminc.com 416-260-1641
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