Inverite AI Platform Achieves New Monthly Transaction Revenue Record in August
Rhea-AI Summary
Inverite Insights Inc. (CSE: INVR) (OTC Pink: INVRF) (FSE: 2V00), an AI-driven software provider for financial data analysis, has announced a new monthly transaction revenue record for August 2024. The company achieved this milestone while simultaneously reducing operating costs by 11%. Inverite's unique Canadian customer profile count has now exceeded five million, demonstrating growing industry acceptance of its platform and products.
CEO Karim Nanji emphasized the company's focus on achieving cash-flow breakeven as quickly as possible, highlighting Inverite's ability to contribute to top-line revenue growth despite challenging economic conditions. The company's solutions for alternative lenders in the non-prime and underbanked consumer sector continue to be well-received, prioritizing efficient and effective near real-time data analytics while adhering to regulatory standards.
Positive
- Achieved new monthly transaction revenue record in August 2024
- Reduced operating costs by 11%
- Exceeded five million unique Canadian customer profiles
- Growing industry acceptance of platform and products
- Continued top-line revenue growth despite challenging economic conditions
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, INVRF gained 405.44%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - September 12, 2024) - Inverite Insights Inc. (CSE: INVR) (OTC Pink: INVRF) (FSE: 2V00) ("Inverite" or the "Company"), is a leading AI-driven software provider utilizing real-time financial data to empower businesses to transact more effectively with consumers, is pleased to announce that it achieved new monthly record-breaking transactions revenue for August 2024 while reducing operating costs.
During the month of August, Inverite transaction revenue set a new monthly record in revenue from the previous record setting month in May of this year while reducing costs by
"Given the challenging financial times of high interest rates and inflation, Inverite continues to contribute growth in the Company's top line revenue while reducing operating costs through technology innovation. Inverite's service offerings continue to provide increased value for alternative lenders in the largest sector of the credit economy, the non-prime and underbanked consumer. Our goal as a company is hyper-focused in achieving cash-flow breakeven as quickly as possible." said Karim Nanji, CEO of Inverite
Our solutions for alternative lenders continue to be well received, as our platform prioritizes both the efficiency and effectiveness of the data analytics process in near real-time while maintaining the highest adherence to regulatory standards.
About Inverite Insights Inc.
Inverite Insights Inc. ("Inverite") (CSE: INVR) (OTC: INVRF) (FSE: 2V00) is a Vancouver-based, AI-driven software provider specializing in real-time financial data. With a vast database of over nine billion financial data points from more than four million and a half unique Canadian consumers transactions, Inverite empowers businesses to transact more effectively with consumers through innovative solutions for data enrichment, identity, risk management and compliance.
For further information about Inverite Insights, please visit: inverite.com
ON BEHALF OF THE BOARD
Mike Marrandino, Executive Chairman
T: (855) 661-2390 ext. 104 Email: ir@inverite.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider/Market Maker (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release, nor has in any way passed upon the merits of the proposed transaction nor approved or disapproved the contents of this press release.
Forward-Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes that any forward-looking statements in this news release are reasonable, there can be no assurance that any such forward-looking statements will prove to be accurate. The Company cautions readers that all forward-looking statements, are based on assumptions none of which can be assured and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward-looking statements. Such forward-looking statements represent management's best judgment based on information currently available. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements.
The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the CSE. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223083
FAQ
What new record did Inverite Insights (INVRF) achieve in August 2024?
How much did Inverite Insights (INVRF) reduce its operating costs?
What is the current unique Canadian customer profile count for Inverite Insights (INVRF)?
What is Inverite Insights' (INVRF) main focus according to CEO Karim Nanji?
