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Givex (GIVX) investor relations material

Givex has been acquired by Shift4 Payments Inc

Givex Q2 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2024 earnings summary29 Jul, 2024

Executive summary

  • Achieved net income of $175K for Q2 2024, reversing a net loss of $978K in Q2 2023; net income for the six months was $667K versus a loss of $2.2M year-over-year.

  • Achieved positive net income for the second consecutive quarter, with significant year-over-year improvements in revenue, gross profit, and net income for both the quarter and six-month period ending June 30, 2024.

  • Revenue grew to $20.9M in Q2 2024, up 7.4% year-over-year; six-month revenue reached $41.7M, an 8% increase.

  • Gross profit for Q2 2024 was $15.2M, up from $14.1M in Q2 2023; gross margin remained strong.

  • Management remains optimistic about continued growth in 2024, citing new business opportunities.

Financial highlights

  • Q2 2024 revenue: $20.9M (Q2 2023: $19.4M); six-month revenue: $41.7M (2023: $38.6M).

  • Net income for Q2 2024: $175K (Q2 2023: loss of $978K); six-month net income: $667K (2023: loss of $2.2M).

  • EBITDA for Q2 2024 was $1.9M, up 224% year-over-year; six-month EBITDA was $3.6M, up 470%.

  • Cash and cash equivalents at June 30, 2024: $24.2M, up from $22.2M at year-end 2023.

  • Operating cash flow for six months: $4.0M, up from $2.6M year-over-year.

Outlook and guidance

  • Management continues to focus on growth in core technology solutions and integration of recent acquisitions.

  • Management expects the positive trend in financial performance to continue for the remainder of 2024, supported by active pursuit of new business opportunities.

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    Frequently asked questions

    Givex Corp is a technology and software solutions provider based in Canada. The company offers a comprehensive, cloud-based global customer engagement and business insights platform. It provides a range of products and services including gift card solutions, loyalty programs, data analytics, stored value ticketing, payments processing, and cloud-based point of sale (POS) solutions. Givex serves various sectors such as restaurants, retail, sports venues, and other enterprise-level clients, helping them manage customer engagement and operational efficiency through integrated technology solutions. The company operates through several subsidiaries including Kalex, Loyalty Lane, and Owen Business Systems. The company is headquartered in Toronto, Ontario, and its shares are listed on the TSX.