POSaBIT Systems Corporation (C:PBIT)
Business Focus: Financial Technology (Fintech) (NEC)
| Sector: Technology | Industry: Financial Technology (Fintech) |
| Company Contact | |
| Address: | 15 Lake Bellevue Dr, Suite101 BELLEVUE WA 98005 |
| Tel: | N/A |
| Website: | N/A |
| IR: | N/A |
| Key People | ||
| Ryan Richard Hamlin Chief Executive Officer, Co-Founder, Director | Stephen Gledhill Chief Financial Officer, Company Secretary | |
| Business Overview |
| POSaBIT Systems Corporation is a financial technology company that delivers payment processing and point-of-sale (POS) systems for cash-only businesses. The Company specializes in resolving pain points for complex, high-risk, emerging industries like cannabis with an all-in-one solution. Its POS system is specifically designed to suit the needs of cannabis retailers and eliminate the pain points of running store. It provides a complete payment solution for any and all cannabis retailers and dispensaries. Its online portal gives access to real-time reporting of store performance, customer demographics, and transaction data. POSaBIT PIN Debit is the payment solution for a coffee shop, a grocery store or other retailer. POSaBIT ACH allows customers to log in and store their banking information within its payment portal. POSaBIT POS and POSaBIT POS 2.0 are POS systems. Its wholly owned subsidiary is POSaBIT US, Inc. |
| Financial Overview |
| For the nine months ended 30 September 2023, POSaBIT Systems Corp revenues increased 55% to $38.6M. Net loss applicable to common stockholders increased from $1.3M to $12.4M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Higher net loss reflects Salaries and wages increase of 84% to $9M (expense), Gain/Loss on Derivatives - Hedging decrease of 59% to $2.2M (income). |
| Employees: | 18 as of Sep 30, 2018 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $25.95M as of Sep 30, 2023 |
| Annual revenue (TTM): | $87.31M as of Sep 30, 2023 |
| EBITDA (TTM): | $8.00M as of Sep 30, 2023 |
| Net annual income (TTM): | -$4.10M as of Sep 30, 2023 |
| Free cash flow (TTM): | -$13.17M as of Sep 30, 2023 |
| Net Debt Last Fiscal Year: | $0.36M as of Sep 30, 2023 |
| Shares outstanding: | 153,243,034 as of Jan 11, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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