Solution Financial Inc. (V:SFI)
Business Focus: Personal & Car Loans
| Sector: Financials | Industry: Consumer Lending |
| Company Contact | |
| Address: | Unit 137 - 8680 Cambie Road RICHMOND BC V6X 4K1 |
| Tel: | 1-778-3181514 |
| Website: | https://www.solution.financial |
| IR: | See website |
| Key People | ||
| Bryan Pang President, Chief Executive Officer, Director | Sean Hodgins Chief Financial Officer, Corporate Secretary, Director | Vincent Ka Ho Lau Vice President - Operations, Director |
| Business Overview |
| Solution Financial Inc. is engaged in providing sourcing and leasing solutions for luxury and ultra-luxury vehicles, yachts and other high value assets in Canada. The Company operates through retail sales, leases, and financing for automotive vehicles, boats, and commercial equipment and out of three locations being Richmond, British Columbia, Calgary, Alberta and Vaughan, Ontario. Its solution works with a select group of automotive and marine dealerships providing lending solutions to clients who cannot obtain leasing terms with traditional Canadian financial institutions or other sub-prime lenders. Its solution provides a leasing experience whereby it partners with its clients to help them navigate the challenges of acquiring, insuring, maintaining, and upgrading vehicles and luxury assets in Canada. The Company's customers include new immigrants, business owners and international students. |
| Financial Overview |
| For the three months ended 31 January 2024, Solution Financial Inc revenues decreased 40% to C$3.1M. Net income totaled C$21K vs. loss of C$357K. Revenues reflect Vehicle sales decrease of 45% to C$2M, Leasing income decrease of 27% to C$1M, Brokerage commissions decrease of 14% to C$85K. Net Income reflects Listing and financing fees decrease from C$447K (expense) to C$0K. |
| Employees: | 14 as of Oct 31, 2023 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $35.10M as of Jan 31, 2024 |
| Annual revenue (TTM): | $13.36M as of Jan 31, 2024 |
| EBITDA (TTM): | $2.93M as of Jan 31, 2024 |
| Net annual income (TTM): | $0.42M as of Jan 31, 2024 |
| Free cash flow (TTM): | -$3.04M as of Jan 31, 2024 |
| Net Debt Last Fiscal Year: | $11.07M as of Jan 31, 2024 |
| Shares outstanding: | 86,398,273 as of Jan 31, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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