Fast Finance Pay Corp Publishes First Quarter 2025 Financial Statement

Rhea-AI Summary

Fast Finance Pay Corp (OTC PINK:FFPP) reported its Q1 2025 financial results, showing mixed performance. Revenue increased 29% to $2.45 million from $1.90 million in Q1 2024. Gross profit nearly doubled to $1.19 million from $0.62 million year-over-year. However, the company's net loss widened to $281,000 compared to $3,000 in Q1 2024. The increased loss was attributed to one-time expenses related to capital restructuring, reverse split implementation, and uplisting preparation efforts. The company reported growth in its OK.de and OK.secure advertising business while successfully transitioning from its Merchant business. Management is focusing on implementing B2C and B2B sales strategies and pursuing audited financials for a potential uplisting.

Positive

• Revenue grew 29% YoY to $2.45 million in Q1 2025
• Gross profit increased 92% YoY to $1.19 million
• Successful transition in business model with growth in OK.de and OK.secure advertising
• Progress towards uplisting with completed reverse split and capital restructuring

Negative

• Net loss significantly increased to $281,000 from $3,000 YoY
• Increased expenses due to restructuring and uplisting preparation efforts

NEW YORK, NY / ACCESS Newswire / May 27, 2025 / Fast Finance Pay Corp. (OTC PINK:FFPP) today announced its financial results for the first quarter ended March 31, 2025.

Operating Results for the three months ended March 31, 2025:

• Revenues for the three months ended March 31, 2025, were $2.45 million, an increase of 29% from $1.90 million in the same period of 2024.

• Gross profit was $1.19 million, compared to $0.62 million in the same period in 2024.

• Net loss was $281 thousand, as compared to a net loss of $3 thousand in the same period of 2024.

Ole Jensen, CEO, President and Chairman of Fast Finance Pay Corp. stated, "Our commitment to growing and expanding the company continues as we focus on customer satisfaction. We experienced growth in the OK.de, OK.secure advertising business and switching from the Merchant business without losing any momentum. We continue to implement a sales and marketing plan targeting B2C and B2B costumers with our numerous product lines and services, all of which we believe will result in continued growth.

"The first quarter included a great deal of time, effort and financial resources in conducting the reverse split, which we believe improved our capital structure and positions us a step closer to an uplisting. Over the last year, it has been a lot of work to move the Company forward, and I want to recognize the dedication of our employees who have embraced these changes to put us in a position to be successful. We are moving forward aggressively to have audited financials for the past 2 years and positioning the company for an uplisting as soon as possible. The one time expenses throughout the quarter did impact our net profit due to capital restructuring, reverse split, retaining auditors and preparing of the Up listing, however, we believe these costs are truly long term benefits that will bring value."

About Fast Finance Pay Corp.

Fast Finance Pay Corp. is a communication and fintech innovator that delivers cutting-edge, end-to-end communication and financial solutions for businesses and individual users. Its unified ecosystem seamlessly combines secure communication with advanced banking technologies, enabling businesses and consumers to transact smarter and more efficiently.

OK.de provides a mobile free-mail email platform, along with secure, encrypted instant messaging and cloud storage services. In addition to news and a comparison tool, it offers integrated free solutions that connect people worldwide on a single platform, OK.secure.

OK.secure is a completely free cross-platform messenger service for private and secure messaging, file sharing, and cloud storage, protected by military-grade encryption. Utilizing end-to-end encryption based on blockchain technology, it ensures safe communication through chat and video calls. Its integrated crypto wallet enables seamless payment exchanges via chat and worldwide crypto management.

OK.pay is an innovative solution for modern banking and crypto asset management. It offers seamless global integration of crypto trading, enabling users to buy, sell, and spend cryptocurrencies through a one-stop platform. By combining encrypted messaging with a noncustodial wallet, crypto-to-fiat conversions, and IBAN banking, OK.pay delivers efficient tools for managing finances and conducting secure transactions worldwide. The OK.pay Debit Card extends these advantages to everyday transactions for both individual users and businesses.

Forward-Looking Statements

This news release may contain forward-looking statements within the meaning of Section 27a of the Securities Act of 1933 (as amended) and section 21e of the Securities and Exchange Act of 1934 (as amended). Those statements include the intent, belief or current expectations of the Company and its management team. Forward-looking statements are projections of events, revenues, income, future economics, research, development, reformulation, product performance or management's plans and objectives for future operations. Some or all the events or results anticipated by these forward-looking statements may not occur. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements because of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control.

CONTACT:

Investor Relations
Andrew Barwicki
516-662-9461
andrew@barwicki.com

SOURCE: Fast Finance Pay Corp.

View the original press release on ACCESS Newswire

FAQ

What were FFPP's Q1 2025 revenue and profit numbers?

FFPP reported Q1 2025 revenue of $2.45 million (up 29% YoY), gross profit of $1.19 million, and a net loss of $281,000.

Why did Fast Finance Pay Corp's net loss increase in Q1 2025?

The increased net loss was due to one-time expenses related to capital restructuring, reverse split implementation, auditor retention, and uplisting preparation efforts.

What strategic changes is FFPP implementing in 2025?

FFPP is transitioning from Merchant business to focus on OK.de and OK.secure advertising, implementing B2C and B2B sales strategies, and preparing for a potential uplisting with audited financials.

What was Fast Finance Pay Corp's revenue growth rate in Q1 2025?

Fast Finance Pay Corp achieved a 29% year-over-year revenue growth, increasing from $1.90 million in Q1 2024 to $2.45 million in Q1 2025.