Tenet Fintech Group Inc. (C:PKK)
Business Focus: Financial Technology (Fintech) (NEC)
| Sector: Technology | Industry: Financial Technology (Fintech) |
| Company Contact | |
| Address: | 119 Spadina Ave. #705 TORONTO ON M5V 2L1 |
| Tel: | N/A |
| Website: | https://www.tenetfintech.com |
| IR: | See website |
| Key People | ||
| Carol Penhale Independent Chairman of the Board, Interim Chief Executive Officer | Claude Theroux Chief Technology Officer | Luis Rocha Chief Analytics Officer | Wendy Kennish Chief Legal Officer and Corporate Secretary |
| Business Overview |
| Tenet Fintech Group Inc. is a parent company of a group of financial technology (Fintech) and artificial intelligence (AI) companies. The Company's subsidiaries use technology, analytics and AI to create an ecosystem of small and medium-sized enterprises (SMEs) to carry out a range of interactions and transactions, including in the commercial lending space. Its subsidiaries provide various analytics and AI-based services to businesses and financial institutions through the Cubeler Business Hub. Cubeler Business Hub is a global ecosystem where analytics and AI are used to create opportunities and facilitate business-to-business (B2B) transactions among its members. Cubeler Business Hub helps create connections among SME execs across industries and regions. The Cubeler Business Hub uses AI and analytics to match and pre-qualify businesses with credit offers from various financial institutions, to detect trends, predict outcomes and provide insights, and facilitate business connections. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Tenet Fintech Group Inc revenues decreased 62% to C$42.1M. Net loss increased 45% to C$76.8M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Higher net loss reflects Impairment of intangible assets increase from C$7M to C$14.8M (expense), Expected credit loss increase from C$1.9M to C$6.8M (expense). |
| Employees: | 148 as of Dec 31, 2021 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $20.38M as of Dec 31, 2023 |
| Annual revenue (TTM): | $42.09M as of Dec 31, 2023 |
| EBITDA (TTM): | -$24.91M as of Dec 31, 2023 |
| Net annual income (TTM): | -$76.83M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$11.79M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $10.48M as of Dec 31, 2023 |
| Shares outstanding: | 123,761,745 as of Dec 31, 2023 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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