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Payfare Inc. (T:PAY)

Business Focus: Transaction & Payment Services

Sector:  Industrials Industry:  Business Support Services
See Regulatory Filings on SEDAR
Company Contact
Address: 1 First Canadian Place
100 King Street West, Suite 1600
Toronto ON M5X 1G5
Tel: N/A
IR: See website
Key People
Business Overview
Payfare Inc. is a Canada-based financial technology company. The Company provides instant payout and digital banking solutions for gig economy. The Company partners with platforms and marketplaces, such as Uber, Lyft and DoorDash to provide financial security and inclusion for their workforce. It provides gig workers with instant access to their earnings and digital banking experience allowing them to focus financially rather than having to depend on the traditional banking system, payday loans, overdraft and credit cards. The Company operates in Canada, United States and Mexico. Its wholly owned subsidiaries include Payfare International Inc. and Payfare Mexico Inc. S.A. de C.V.
Financial Overview
For the three months ended 31 March 2022, Payfare Inc revenues increased from C$5.1M to C$24.9M. Net loss decreased 65% to C$2.7M. Revenues reflect USA segment increase from C$4.7M to C$24.6M, Canada segment increase of 11% to C$350K. Lower net loss reflects Digital Banking Solutions segment loss decrease of 43% to C$2.8M. Basic Earnings per Share excluding Extraordinary Items increased from -C$0.23 to -C$0.06.
Employees: 70 as of Dec 31, 2021
Reporting Currency: Canadian Dollars
Enterprise value: $265.79M as of Mar 31, 2022
Annual revenue (TTM): $63.62M as of Mar 31, 2022
EBITDA (TTM): -$17.70M as of Mar 31, 2022
Net annual income (TTM): -$16.32M as of Mar 31, 2022
Free cash flow (TTM): -$12.35M as of Mar 31, 2022
Net Debt Last Fiscal Year: N/A
Shares outstanding: 46,739,854 as of May 10, 2022
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization