Welcome to our dedicated page for Cuentas news (Ticker: CUENW), a resource for investors and traders seeking the latest updates and insights on Cuentas stock.
CUENTAS INC WTS (CUENW) represents warrants on Cuentas, Inc., a Florida-incorporated company that combines financial technology, mobile telecommunications, digital content and housing-related initiatives. News about CUEN and CUENW often centers on how the company is developing its alternative financial ecosystem for unbanked, under-banked and underserved communities in the United States, particularly within the Hispanic demographic.
Investors following CUENW news can expect updates on Cuentas’ fintech platform, including its General Purpose Reloadable card with a digital wallet, retailer discounts, rewards and digital content purchasing capabilities. Coverage also includes developments in Cuentas Mobile, the company’s mobile telecommunications solution that uses eSIM and traditional SIM technology and is supported by a broad distribution network of retail outlets and bodegas.
Another important category of news involves Cuentas’ strategic partnerships and joint ventures. The company has announced collaborations with World Mobile Group Ltd to deliver localized networks, roaming services and mobile solutions, and has disclosed a joint venture, World Mobile Media Group LLC, intended to operate an internet-delivered over-the-top media and digital content platform under the World Mobile Media or WMM brand. These items can influence how market participants view the growth prospects associated with CUENW.
News flow also covers Cuentas Casa and related real estate activities, such as investments in affordable housing projects in Florida and transactions involving properties that the company has used to unlock liquidity for its fintech and mobile operations. Regulatory and reporting milestones, including statements about being current with SEC filings and trading on the Pink Limited Market, are additional themes that may appear in CUEN and CUENW headlines. For a fuller picture of the warrants, readers often track this blend of financial, operational, partnership and regulatory news.
Cuentas Inc. (NASDAQ:CUEN & CUENW) announced a special 5% discount for Amazon Cash purchases via its mobile app, available through the end of 2022. The Cuentas App allows users to access discounts across various brands, promoting financial inclusion for the underbanked Hispanic community. CEO Arik Maimon emphasized the initiative as a means to ease financial stress during the holiday season. Cuentas aims to enhance the digital shopping experience without credit checks or bank accounts, appealing to users with an ITIN or SSN.
Cuentas Inc. (NASDAQ: CUEN & CUENW) has announced an agreement to acquire a controlling interest in its CuentasMAX LLC joint venture with WaveMAX Corporation and Execon Smart Solutions for a cash transaction, pending board approval. CuentasMAX leverages WaveMAX's patented WiFi6-5G technology to serve bodegas and small retail shops across urban and rural areas, enhancing digital payment and advertising capabilities. This acquisition is expected to drive growth in the Hispanic and Latino markets by integrating innovative fintech solutions with shared network resources.
Cuentas has announced its role as the exclusive fintech sponsor of the Major Arena Soccer League (MASL), launching a Free Wireless/Fintech Combo Offer for the first 100,000 subscribers starting Black Friday. Subscribers will receive unlimited talk and text services along with 200 MB of high-speed data for free, provided they maintain a minimum balance of $4.50 in their Cuentas account. This initiative aims to enhance financial accessibility for MASL fans and promote Cuentas' mobile financial services, aligning with MASL's season kickoff.
Cuentas, Inc. (NASDAQ:CUEN)(NASDAQ:CUENW) has announced a share repurchase program authorized by its Board of Directors. This decision aims to enhance financial flexibility and capitalize on the company's low market valuation, projected at 1.9 times 2022 revenue of $3 million. With $2.1 million in cash and no corporate debt as of September 30, 2022, Cuentas plans to buy back shares as market conditions allow. The company also reported an annualized revenue run rate of $4.4 million, significantly up from $593,000 in 2021.
Cuentas, Inc. (Nasdaq: CUEN & CUENW) reported substantial financial growth in its Q3 2022 10Q filing, with revenue soaring over 1,000% from $109,000 in Q3 2021 to $1.1 million in Q3 2022. Gross profit also experienced a significant increase, rising from $18,000 to $116,000 year-over-year. The total operating loss decreased to $2.26 million from $2.4 million in the same period last year. The company attributes this growth to expanded digital services, including a new partnership with InComm Payments and plans to enhance its mobile app with additional financial features.
Cuentas, Inc. (NASDAQ:CUEN, CUENW) has appointed Jay Adams as the new CEO of Cuentas Mobile, a prepaid wireless service provider. Adams brings over 25 years of experience in the prepaid and wireless industries, previously leading companies to generate over $200 million in annual revenue. Under his leadership, Cuentas Mobile aims to expand its offerings, particularly targeting the Hispanic market. The company provides digital financial services and products, including mobile payments and prepaid debit cards, helping underserved communities access affordable mobile services.
Cuentas, Inc. (Nasdaq: CUEN & CUENW) announced that its division, Cuentas Mobile, will provide 100,000 GSM SIM cards with free wireless services for life to users who maintain a minimum of $50 in their accounts monthly. Customers can register with the promo code CuentasMobile for no-cost direct deposit accounts. This initiative aims to integrate financial and wireless services, enhancing the user experience and promoting financial accessibility to the underbanked communities, especially during inflationary times.
Cuentas, Inc. (Nasdaq: CUEN & CUENW) announced that co-founders Arik Maimon and Michael De Prado will serve as Interim CEO and Interim President, respectively, following the departure of former CEO Jeff Johnson. This change aims to restore the company’s market capitalization, which peaked at $123 million in July 2021. Cuentas is positioned to compete with leading firms like Green Dot and PayPal in the mobile payment sector. Maimon expressed confidence in the company’s contracts and future, highlighting that Cuentas is undervalued and poised for growth.
Cuentas, Inc. (NASDAQ:CUEN, CUENW) reported a remarkable 280% year-over-year increase in e-commerce revenue for the first half of FY2022 compared to the same period in FY2021. The company attributed this growth to a combination of factors, including the acquisition of 19.9% of Cuentas SDI LLC, which aims to diversify its prepaid offerings. CEO Arik Maimon expressed optimism for continued revenue growth and cost-cutting measures to reduce operating expenses. Cuentas is focused on enhancing services for underbanked populations.
Cuentas, Inc. (NASDAQ:CUEN)(NASDAQ:CUENW) will host an Earnings and Shareholder Update Conference Call on August 18, 2022, at 4:30 PM ET. The call will discuss Q2 earnings results filed on August 15, 2022, along with three significant updates previously mentioned in the July 20 shareholder report. Participants can register online and submit questions during the call. Cuentas offers fintech solutions targeting underbanked populations, including a General Purpose Reloadable card and mobile app for financial services.