- Givex Information Technology Group Ltd (TSX:GIVX) (OTCQX:GIVXF) reported its first-quarter results, with a 26% year-over-year growth in revenue to C$16.3 million. EPS loss was C$(0.02).
- The company's total gross transactional value increased by 21% Y/Y to C$1.26 billion in Q1.
- POS Gross Transactional Value increased 93% Y/Y to C$237 million, and Customer Locations increased ~26% Y/Y to 115,000.
- The gross margin contracted by 43 bps to 66.8%. Adjusted EBITDA was flat at C$1.3 million.
- GIVX cash used in operating activities for the quarter totaled C$2.19 million, compared to cash generated of C$5.23 million a year ago.
- Separately, Givex Information entered into an Automatic Securities Disposition Plan (ASDP) with Research Capital Corporation. The ASDP is effective from May 16, 2022, and will remain in effect for a minimum term of twelve (12) months.
- Under the ASDP, 225,115 common shares in the capital of Givex held by Givex will be sold by RCC between May 16, 2022, and September 22, 2022, at a minimum price of C$0.80.
- Price Action: GIVX shares are trading higher by 16.67% at C$0.70 on TSX on the last check Monday.
