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WeCommerce Holdings Ltd. (V:WE)

Business Focus: Software (NEC)

Sector:  Technology Industry:  Software
See Regulatory Filings on SEDAR
Company Contact
Address: #101 - 524 Yates Street
Tel: 1-949-5743860
IR: See website
Key People
Alexander Persson
Chief Executive Officer
David Charron
Chief Financial Officer
Ben Moore
Senior Vice President
Susan Min
General Counsel, Company Secretary
Business Overview
WeCommerce Holdings Ltd., formerly Brachium Capital Corp., is a Canada-based holding company. The Company, through its subsidiaries, is engaged in the developing, selling, and supporting Website themes and applications (Apps) as well as providing custom solutions through its Agency segment, for clients on e-commerce platforms such as Shopify. The Company's brands include Pixel Union, Out of the Sandbox, KnoCommerce, Archetype, Yopify, SuppleApps, Rehash, Foursixty and Stamped. The Company operates in three segments: Themes, Apps, and Agency. Themes offer a range of designs and layouts, which allows a merchant to customize the appearance of their online store. Its Apps helps merchants to develop their businesses, integrate with off-platform services and add features to their online stores. In the Agency segment, customers hire a portfolio company as their design agency to create or modify their business websites.
Financial Overview
For the three months ended 31 March 2022, WeCommerce Holdings Ltd revenues increased 100% to C$12.1M. Net income totaled C$790K vs. loss of C$1.8M. Revenues reflect Apps segment increase from C$2.3M to C$7.4M, Themes segment increase of 72% to C$3.7M. Net Income reflects Revaluation of contingent consideration increase from C$121K to C$2.1M (income), Foreign exchange (gain)/loss increase from C$449K (expense) to C$561K (income).
Reporting Currency: Canadian Dollars
Enterprise value: $153.86M as of Jun 30, 2022
Annual revenue (TTM): $44.64M as of Jun 30, 2022
EBITDA (TTM): $9.94M as of Jun 30, 2022
Net annual income (TTM): $1.71M as of Jun 30, 2022
Free cash flow (TTM): $10.41M as of Jun 30, 2022
Net Debt Last Fiscal Year: $32.76M as of Jun 30, 2022
Shares outstanding: 41,303,066 as of Aug 8, 2022
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization