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Katipult Technology Corp. (TSXV: FUND) has been awarded the Tech of the Future - Customer Experience category at the 2024 Banking Tech USA Awards in New York City.
The award highlights the innovative customer experience capabilities of Katipult's DealFlow platform, which assists investment firms in automating the entire lifecycle of new issues for both retail and institutional investors.
CEO Gord Breese expressed pride in being recognized alongside industry giants like Morgan Stanley, Wells Fargo, and J.P. Morgan. Katipult's DealFlow aims to modernize private placements, public offerings, and investor account openings.
Katipult Technology Corp. (TSXV: FUND), a prominent Fintech provider specializing in capital exchange software for equity and debt markets, has signed a license agreement with a major investment dealer. This deal aims to enhance scalability, improve business processes, and boost customer experience across North American capital markets operations. Katipult's CEO, Gord Breese, highlighted the growing adoption of their DealFlow product, which facilitates modern, efficient workflows and minimizes errors in both retail and institutional investor participation in new issue offerings. The agreement emphasizes rapid innovation and comprehensive solutions for private and public financings.
Katipult Technology Corp. (TSXV: FUND) has released its Q1 2024 financial results and provided corporate updates. The company reported a 7.2% increase in subscription revenue, reaching $506,000, with a 16% rise in enterprise customer revenue. The gross profit remained steady at 79.2%. However, adjusted EBITDA losses increased slightly to $269,000 due to higher administrative costs. The net loss was $379,000, a significant shift from the $799,000 net income in Q4 2023, largely due to changes in the fair value of 2018 Debentures.
As of March 31, 2024, Katipult held $0.4 million in cash and equivalents, with a working capital deficit of $4.0 million. A new $250,000 loan from Adventure Capital was secured, carrying a 15% interest rate. Katipult also announced the departure of director George Reznik.
Katipult Technology Corp. (TSXV: FUND) reported its 2023 Q4 financial results with a 37% increase in subscription revenue, a gross profit percentage of 81.8%, and a decrease in Adjusted EBITDA losses. However, the net loss was ($288,000) due to non-cash fair value changes. The 's financial position showed a decline in cash and working capital, attributed to renegotiating terms of a convertible debenture.