Toronto:PAY | Jotup

Payfare Announces First Quarter 2024 Financial Results

Retrieved on:

Wednesday, May 8, 2024

Total, Conversation, Uber, National Policy, News, Vendor, System, Management, TSX, MD, Financial statement, ADP, SOC, Fortnight, Bank statement, ADP, Inc., File, Growth

Payfare generated net income of $5.1 million, and Adjusted net income per share1 of $0.15 in Q1 2024.

Key Points:

Payfare generated net income of $5.1 million, and Adjusted net income per share1 of $0.15 in Q1 2024.
TORONTO, May 8, 2024 /PRNewswire/ - Payfare Inc. ("Payfare" or the "Company") (TSX: PAY) (OTCQX: PYFRF), a leading international Earned Wage Access ("EWA") company powering instant access to earnings and digital banking solutions for workforces, today announced the filing of its Financial Statements and Management's Discussion and Analysis ("MD&A") for the quarter ending March 31, 2024.
Management recently hosted a conference call on April 29, 2024, and provided an update on Payfare's financial outlook, strategy, and operations.
An archived recording of the previous conference call hosted on April 29, 2024 will be available until May 29, 2024.

Payfare Announces Unaudited Fourth Quarter and Full Year 2023 Financial Results

Retrieved on:

Thursday, April 25, 2024

Toronto, April 25, 2024 /PRNewswire/ - Payfare Inc. ("Payfare" or the "Company") (TSX: PAY) (OTCQX: PYFRF), a leading fintech powering instant payout and digital banking solutions for workforces, today announced summarized unaudited results for the fourth quarter and year ending December 31, 2023.

Key Points:

Toronto, April 25, 2024 /PRNewswire/ - Payfare Inc. ("Payfare" or the "Company") (TSX: PAY) (OTCQX: PYFRF), a leading fintech powering instant payout and digital banking solutions for workforces, today announced summarized unaudited results for the fourth quarter and year ending December 31, 2023.
Unaudited Full Year 2023 Highlights:
Payfare achieved record revenue of $186.0 million, representing a $56.1 million (+43%) increase over 2022 and met its full year 2023 revenue guidance.
Update: Payfare achieved its full year 2023 revenue and Adjusted EBITDA1 guidance based on unaudited financial results for the year ending 2023.
Management will host a conference call on Monday April 29, 2024, at 8:00 AM ET to discuss the unaudited 2023 financial results.

Payfare Announces Delay in its Annual Filings

Retrieved on:

Thursday, March 28, 2024

Annual, News, System and Organization Controls, National instrument, Certification, Bank statement, TSX, Ontario Securities Commission, File, Interim, National Policy, Fortnight

As a result, the Company will also be required to delay filing of its Annual Information Form for the year ended December 31, 2023 (the "AIF").

Key Points:

As a result, the Company will also be required to delay filing of its Annual Information Form for the year ended December 31, 2023 (the "AIF").
The Company has the necessary financial and human resources to remedy the default and expects to remedy the default by filing the Annual Filings by April 12, 2024 and will issue a news release announcing completion of filing of the Annual Filings at such time as they are completed and filed.
Upon filing its Annual Filings, the Company will also file its AIF.
The delay in the Annual Filings is due solely to the delay in receiving the SOC 1 report from a vendor.

Payfare Announces Update to Timing of its Fourth Quarter and Full Year 2023 Results Release and Earnings Conference Call

Retrieved on:

Monday, March 18, 2024

System and Organization Controls, Certification, Adjustment, SOC 1, TSX

The Company cannot complete the certification of the fiscal 2023 results until this report has been obtained and assessed and for Payfare's external auditors to complete their related audit procedures.

Key Points:

The Company cannot complete the certification of the fiscal 2023 results until this report has been obtained and assessed and for Payfare's external auditors to complete their related audit procedures.
A short presentation in connection with the conference call will be made available on the Company's website at https://corp.payfare.com/investors/ .
Management will also host a live question and answer session on the conference call with analysts.
An archived recording of the conference call will be available until May 1, 2024.

Uber Partners with Mastercard and Payfare to Launch the New Uber Pro Card in Canada

Retrieved on:

Tuesday, March 5, 2024

Senior, EV, Small business, Uber, Mastercard, Backup, Market development, Mobility, Partnership, Food delivery

"At Uber, we look to support drivers and delivery people with flexible options to access their earnings," said Michael van Hemmen, General Manager of Mobility for Uber Canada.

Key Points:

"At Uber, we look to support drivers and delivery people with flexible options to access their earnings," said Michael van Hemmen, General Manager of Mobility for Uber Canada.
"Through our partnership with Mastercard and Payfare, the new Uber Pro Card will enable drivers and delivery people to make the most of their earnings through exclusive cashback rewards."
The Uber Pro Card is a Mastercard Business Prepaid Card which can be used at all Mastercard acceptance points, offering flexibility.
The Uber Pro Card is separate from the Uber Plus Card that delivery people can use for shop and pay trips.

Payfare Announces Fourth Quarter 2023 Active User Growth

Retrieved on:

Thursday, February 15, 2024

The Company, TSX, Growth, Cryptocurrency

"We achieved our best ever quarterly active user growth in the fourth quarter of 2023" said Marco Margiotta, CEO and Founding Partner of Payfare.

Key Points:

"We achieved our best ever quarterly active user growth in the fourth quarter of 2023" said Marco Margiotta, CEO and Founding Partner of Payfare.
"We look forward to announcing our financial results for the fourth quarter and sharing our growth outlook for the year ahead."
Payfare will be hosting a conference call on Thursday, March 21, 2024, at 6:30 P.M.
ET to discuss the Company's fourth quarter and full year ended 2023 financial results.

Payfare Announces Record Third Quarter 2023 Financial Results

Retrieved on:

Wednesday, November 8, 2023

United Kingdom, Financial statement, Toronto Stock Exchange, Conversation, MD, Growth, Indian stock exchange, Partnership, RFP, Total, Management, TSX, Request for proposal, Cryptocurrency, Rare-earth element, Video game, Adjustment, Q2

As of October 31, 2023 Payfare had 1,254,848 active users, up 43,573 from the quarter ended September 30, 2023 as the company enters the seasonally strong fourth quarter.

Key Points:

As of October 31, 2023 Payfare had 1,254,848 active users, up 43,573 from the quarter ended September 30, 2023 as the company enters the seasonally strong fourth quarter.
Total gross dollar value (Total GDV)1 in Q3 2023 was $3.0 billion, an increase of $0.8 billion (+40%) over Q3 2022.
Integration and app development remains ongoing with the second partner client, which Payfare expects to execute a definitive agreement with in the fourth quarter of 2023.
"We are proud to achieve record levels of profitability in the quarter," said Marco Margiotta, CEO and Founding Partner of Payfare.

Payfare to Hold Investor Conference Call to Discuss Third Quarter 2023 Financial Results

Retrieved on:

Tuesday, October 31, 2023

TSX, The Company, Cryptocurrency

TORONTO, Oct. 31, 2023 /PRNewswire/ - Payfare Inc. ("Payfare" or the "Company") (TSX: PAY) (OTCQX: PYFRF) will be hosting a conference call on Wednesday, November 8, 2023, at 6:30 p.m.

Key Points:

TORONTO, Oct. 31, 2023 /PRNewswire/ - Payfare Inc. ("Payfare" or the "Company") (TSX: PAY) (OTCQX: PYFRF) will be hosting a conference call on Wednesday, November 8, 2023, at 6:30 p.m.
ET to discuss the Company's financial results for the third quarter of 2023.
The complete financial results are expected to be released shortly after market close on Wednesday, November 8, 2023.
An archived recording of the conference call will be available until December 8, 2023.

Payfare Comments on Recent Share Price Volatility

Retrieved on:

Thursday, September 28, 2023

RFP, NCR Corporation, Partnership, Request for proposal, API, ATM, Restaurant, Indian stock exchange, TSX, Growth, Health, Total, Cryptocurrency, Payment card, Bank

TORONTO, Sept. 28, 2023 /PRNewswire/ - Payfare Inc. ("Payfare'' or the "Company") (TSX: PAY) (OTCQX: PYFRF), a leading fintech powering instant payout and digital banking solutions for workforces, today commented that it is not aware of any material events impacting operations that have occurred to drive elevated share price volatility in the month of September.

Key Points:

TORONTO, Sept. 28, 2023 /PRNewswire/ - Payfare Inc. ("Payfare'' or the "Company") (TSX: PAY) (OTCQX: PYFRF), a leading fintech powering instant payout and digital banking solutions for workforces, today commented that it is not aware of any material events impacting operations that have occurred to drive elevated share price volatility in the month of September.
Net income of $3.4 million, or $0.07 per share, up $8.4 million (+168%), compared to the same period in 2022.
Adjusted net income1 of $8.1 million, or $0.17 per share, representing growth of $8.4 million compared to the prior year period.
"While the recent share price volatility is disappointing it does not impact Payfare's ability to execute on its growth initiatives," said Marco Margiotta, CEO and Founding Partner of Payfare.

Payfare Announces Record Second Quarter 2023 Financial Results

Retrieved on:

Wednesday, August 9, 2023

RFP, Request for proposal, Conversation, Financial statement, MD, Indian stock exchange, Management, TSX, Growth, Total, Cryptocurrency, Adjustment

Payfare remains on track to meet its full year 2023 revenue guidance of $185 million to $195 million.

Key Points:

Payfare remains on track to meet its full year 2023 revenue guidance of $185 million to $195 million.
Total gross dollar value (Total GDV)1 in Q2 2023 was $2.9 billion, an increase of $0.9 billion (+46%) over Q2 2022 and $0.2 billion (+7%) over Q1 2023.
Payfare remains on track to achieve its full year 2023 Adjusted EBITDA1 guidance of $21 million to $24 million.
"We were focused on building new partner integrations in the second quarter after successfully winning two RFP processes while expanding profitability," said Marco Margiotta, CEO and Founding Partner of Payfare.