Givex Info Tech Stock Price, News & Analysis

Givex Information Technology Group Ltd. (TSX: GIVX) announced the appointment of Divya Kulkarni to its Board of Directors. With over 20 years of experience in finance, marketing, and general management, Kulkarni previously held leadership roles at GE and established the Internal Audit Division for Noranda and Falconbridge. Her expertise is expected to enhance Givex's strategic growth as the company enters its next phase. CEO Don Gray emphasized the significance of this appointment as Givex focuses on future growth.

Givex Information Technology Group Limited reported a 26% revenue increase to $18.4 million for Q3 2022, compared to Q3 2021. Customer locations rose 23% to 118,000. The POS Gross Transactional Value grew 53% to $377 million, while overall Gross Transactional Value increased 19% to $1.34 billion. For the nine-month period, revenue was $51.6 million, marking 29% growth. Adjusted EBITDA was $3.3 million, down from $5.8 million due to prior government subsidies. Givex remains positive about its growth strategy despite market challenges.

Givex Information Technology Group Ltd. (GIVX) has launched a gift card marketplace within Cittamobi's digital wallet, initially offering iFood gift cards. This partnership connects iFood's services to Cittamobi's over 16 million users, enhancing accessibility to food delivery. GivexHub enables businesses to sell gift cards at over 100,000 locations, reaching a broad audience across Brazil. Cittamobi aims to expand its app and user base, recently launching operations in Rio de Janeiro. This collaboration signals potential growth opportunities in the fintech and urban mobility sectors.

On October 4, 2022, Givex Information Technology Group Ltd. (TSX: GIVX) announced the launch of its point of sale system, GivexPOS, in 21 Prime Pubs locations across Canada. This launch is part of a broader partnership with Foodtastic, which includes over 1,000 total locations. GivexPOS was implemented rapidly within five weeks, showcasing its efficiency and ability to support multi-unit restaurant systems. The collaboration aims to streamline operations and enhance customer insights, contributing to Foodtastic’s ongoing growth.

Givex, a global fintech company, is thriving in the restaurant sector by providing a comprehensive suite of technology solutions amidst the challenges posed by the COVID-19 pandemic. Major franchises such as The Captain's Boil, Foodtastic, and BarBurrito have successfully integrated multiple Givex products to enhance operational efficiency and improve customer engagement. Givex’s offerings include point-of-sale systems, online ordering, loyalty programs, and robust reporting, enabling clients to make informed decisions and scale their operations effectively.

Givex (TSX: GIVX) will exhibit alongside Counter Solutions at the Casual Dining event in London on September 14-15, marking their first appearance together post-acquisition. Givex will highlight its point-of-sale system and other products at CD 737, while Counter Solutions will showcase its kiosk and payment technologies. The collaboration aims to demonstrate enhanced product synergies that promise operational efficiencies for clients. Givex has integrated with over 1,000 partners, supporting approximately 116,000 locations globally.

Givex has successfully launched its GivexPOS system in three major hotels in Mexico, including Holiday Inn Mexico City Trade Center and Crowne Plaza locations. This installation also includes an Inventory Module to manage inventory costs across various services. The next phase will introduce an Online Ordering Module for room service automation and gift card functionalities. Givex emphasizes its capability to integrate multiple services to enhance operational efficiency within the hospitality industry.