BeWhere Holdings Inc. Announces Release Date of Third Quarter 2024 Results
Rhea-AI Summary
BeWhere Holdings has announced it will release its financial results for Q3 2024 on November 20, 2024. The company's recent quarterly performance shows consistent growth, with total revenue increasing from $3.07M in Q3 2023 to $4.32M in Q2 2024. Gross profit has also shown steady improvement, rising from $1.25M to $1.41M over the same period. Net profit has fluctuated but demonstrated overall growth, reaching $387,787 in Q2 2024, compared to $284,662 in Q3 2023.
Positive
- Revenue growth from $3.07M to $4.32M over four quarters
- Consistent gross profit improvement reaching $1.41M in Q2 2024
- Net profit increase to $387,787 in Q2 2024, up from Q3 2023
Negative
- None.
Toronto, Ontario--(Newsfile Corp. - November 12, 2024) - BeWhere (TSXV: BEW) (OTCQB: BEWFF) ("BeWhere" or the "Company"), a leading Mobile Internet of Things (M-IoT) company, announces the release date of its financial results for three and nine months ended September 30, 2024.
The company will announce its third quarter of 2024 results on November 20, 2024.
Below is the summary of results for the last four quarters:
| 2023 | 2023 | 2023 | 2024 | |
| Q3 | Q4 | Q1 | Q2 | |
| Total Revenue | 3,075,102 | 3,217,734 | 3,500,137 | 4,320,672 |
| Gross profit | 1,250,649 | 1,247,052 | 1,343,332 | 1,411,263 |
| Net profit | 284,662 | 93,908 | 210,379 | 387,787 |
Non-IFRS Measures
Adjusted EBITDA is a non-IFRS measure and does not have standardized meaning as it relates to performance measures and may not be comparable to other issuer disclosures of similar performance measures. The Company has provided a reconciliation of Adjusted EBITDA to IFRS profit (loss) in the Management's Discussion and Analysis for the period ended December 31, 2023. Adjusted EBITDA is defined as earnings before interest income, taxes, depreciation and amortization, share-based compensation, and other non-recurring gains and losses. Management believes that Adjusted EBITDA is a useful measure that facilitates period to period operating comparisons. Adjusted EBITDA should not be considered superior to IFRS net income (loss).
About BeWhere
BeWhere (TSXV: BEW) (OTCQB: BEWFF) specializes in low-power 5G IoT wide-area tracking technology, creating remote monitoring solutions that address cost, power, and environmental challenges. In just 6 years, the company has experienced rapid growth, collaborating with Fortune 500 companies, top resellers and installers to deploy hundreds of thousands of trackers across numerous sectors, including transportation, construction, logistics, utilities, health, and government.
BeWhere's tracking solutions are designed to be both cost-effective and simple to implement, significantly expanding the scope of assets that can be connected. These connected devices generate data that powers intelligent AI management platforms. By increasing the number of connected devices, BeWhere enhances the capabilities and growth potential of AI solutions.
Follow BeWhere on LinkedIn, Facebook, Twitter, and YouTube
CONTACT INFORMATION
BeWhere Inc.
Margaux Berry, VP Strategy and Growth
1 (844) 229-4373 x 107
info@bewhere.com
Cautionary Statements Regarding Forward Looking Information
Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance, are "forward-looking statements".
We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements.
Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including technology development, anticipated revenues, projected size of market, and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
BeWhere Holdings Inc. (the "Company") does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, technology development and marketing activities, the Company's historical experience with technology development, uninsured risks. Actual results may differ materially from those expressed or implied by such forward-looking statements.
The Company's audited Interim Consolidated Financial Statements for the period ended June 30, 2024 and 2023, together with its corresponding Management's discussion and analysis can be found under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.bewhere.com.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (as that term is defined in the Policies of the TSX Venture Exchange) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229517
FAQ
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