Fast Finance Pay Corp Releases First Quarter 2025 Financial Results

Rhea-AI Summary

Fast Finance Pay Corp (OTC:FFPP) reported its Q1 2025 financial results, showing a slight decline in performance. Revenue decreased 3% to $2.45 million from $2.53 million in Q1 2024. Gross profit fell to $1.19 million from $1.22 million year-over-year. The company's net loss widened to $281,000 compared to $247,000 in the same period last year. CEO Ole Jensen highlighted the company's efforts toward obtaining audited financials and preparing for an uplisting following a recent reverse stock split. Management is implementing a sales and marketing strategy focusing on both B2C and B2B customers across their product lines to drive long-term growth.

Positive

• Recent reverse stock split completed to improve capital structure
• Company actively preparing for potential uplisting
• Implementation of new B2B and B2C sales and marketing strategy
• Working towards obtaining audited financials for past 2 years

Negative

• Revenue declined 3% year-over-year to $2.45 million
• Net loss increased to $281,000 from $247,000 in Q1 2024
• Gross profit decreased to $1.19 million from $1.22 million

NEW YORK, NY / ACCESS Newswire / May 19, 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, a decrease of 3% from $2.53 million in the same period of 2024.

• Gross profit was $1.19 million, compared to $1.22 million in the same period in 2024.

• Net loss was $281 thousand, as compared to a net loss of $247 thousand in the same period of 2024.

Ole Jensen, CEO, President and Chairman of Fast Finance Pay Corp. stated, "Although our first quarter resulted in a slight decrease in our numbers, we are dedicated and moving forward aggressively to have audited financials for the past 2 years and prepare the company for an uplisting as soon as possible. The first quarter included a great deal of time and effort in conducting the reverse split, which we believe improved our capital structure and positions us a step closer to an uplisting. 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 long term growth. 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."

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 net loss?

Fast Finance Pay Corp reported Q1 2025 revenue of $2.45 million and a net loss of $281,000.

How did Fast Finance Pay Corp's Q1 2025 results compare to Q1 2024?

FFPP's Q1 2025 results showed declines across key metrics: revenue decreased 3% from $2.53M to $2.45M, gross profit fell from $1.22M to $1.19M, and net loss increased from $247K to $281K.

What strategic initiatives is FFPP pursuing in 2025?

FFPP is working to obtain audited financials for the past 2 years, preparing for a potential uplisting, and implementing a new B2B and B2C sales and marketing strategy.

What recent corporate actions has FFPP completed?

FFPP recently completed a reverse stock split to improve its capital structure and position the company for a potential uplisting.