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CityBase, a provider of government technology, has partnered with Alabama Power to launch self-service kiosks for utility bill payments in Montgomery and Mobile, AL. This initiative features 80 kiosks across 36 locations, enhancing customer convenience by allowing payments for multiple utilities in a single visit. The kiosks have shown significant usage, processing over 30% of in-person transactions for Montgomery Water Works. This partnership is part of GTY Technology Holdings Inc.'s strategy to modernize public sector services with cloud-based solutions.
GTY Technology Holdings Inc. (Nasdaq: GTYH) has secured a $25 million loan with UBS O’Connor LLC to replace a $12 million unsecured credit facility. The new financing will aid in repaying existing debt and support working capital needs. CFO John Curran highlighted that this move aligns with GTY's growth strategies and cost reduction efforts. The loan has a 30-month term, set to conclude in Q2 2023, with expectations of sufficient capital to sustain operations through 2021.
GTY Technology Holdings (NASDAQ: GTYH) announced that its budgeting unit, Questica, will provide cloud budgeting software to the Metropolitan Water District of Southern California. Metropolitan, the largest treated drinking water distributor in the U.S., serves 19 million residents across multiple counties. The Questica Budget software will enhance financial planning, budgeting, and performance monitoring for Metropolitan's biannual $3.4 billion budget. This partnership promises to improve operational efficiency and process automation.
GTY Technology Holdings Inc. (Nasdaq: GTYH) reported significant financial growth for Q3 and the first nine months of 2020, with GAAP revenues increasing by 44% to $12.6 million for Q3 and 40% to $35.0 million year-over-year. Non-GAAP revenues also saw a rise of 30% in Q3. The company achieved cash flow positivity, adding 77 new customers amid the pandemic. GTY's Board concluded the review of strategic alternatives, focusing on executing its standalone plan. GTY anticipates over 20% revenue growth for the full year, supported by strong cost management and operational efficiency.
GTY Technology Holdings Inc. (Nasdaq: GTYH) announced its Q3 2020 earnings call scheduled for 8:30 am ET on November 5, 2020. Investors can register for the call through a designated link and access a live webcast. GTY specializes in providing cloud-based software solutions for the public sector, serving state and local governments, educational institutions, and healthcare organizations. Its services cover procurement, payments, grant management, budgeting, and permitting, aimed at improving stakeholder engagement and resource management.
CityBase has partnered with the Village of Mount Prospect, IL, to implement no-contact payment kiosks and online payment systems. This initiative, approved unanimously by the Village Board, aims to enhance user experience and streamline payment processes for utilities like water and sewer. The kiosks will offer 24/7 service, facilitating safe payments without in-person contact. CityBase's platform will automate reporting and ensure PCI compliance, with an expected annual savings of over $50,000 for the Village. Future expansions may include support for various municipal payments.
eCivis, a leading SaaS-based grants management solution, is collaborating with the California Department of Housing and Community Development to manage $811.7M in federal funding during the COVID-19 pandemic. This partnership enables rapid deployment of 12 grant programs, alleviating administrative burdens and ensuring compliance with regulations. eCivis's platform is designed to support a remote workforce and enhance efficiency, addressing the heightened demand for government assistance. The initiative illustrates GTY Technology Holdings' commitment to empowering public sector agencies.
GTY Technology Holdings Inc. (NASDAQ: GTYH) announced that its business unit, CityBase, has partnered with the City of Austin to enhance online and mobile payment options for municipal fees. This collaboration aims to modernize the payment process, improve operational efficiency, and provide a better experience for residents during the pandemic. The CityBase platform will unify various departmental billing systems and offer innovative payment solutions, benefiting both the City and its constituents.