InsuraGuest Grows Revenues 21% and Increases Gross Margin by 44% Over Last Year
Rhea-AI Summary
InsuraGuest Technologies (TSXV: ISGI) (OTCQB: ISGIF) reported strong financial results for the six months ended December 31, 2024, with a 21% year-over-year revenue increase to $491,204 and a 44% gross margin improvement to $328,513.
The company's growth was driven by the expansion of vacation rental properties and a full six-month revenue contribution from their newest customer. Improved cost management helped reduce the comprehensive loss from $382,049 to $122,810. The company continues to strengthen its position in the vacation rental, hotel, and events sectors through its insurtech solutions.
Positive
- Revenue increased 21% YoY to $491,204
- Gross margin improved 44% YoY to $328,513
- Comprehensive loss reduced by 68% from $382,049 to $122,810
- Expansion of vacation rental property portfolio
Negative
- Company still operating at a loss of $122,810
Vancouver, British Columbia--(Newsfile Corp. - February 24, 2025) - InsuraGuest Technologies, Inc.® (TSXV: ISGI) (OTCQB: ISGIF) ("InsuraGuest" or the "Company"), a leading Insurtech innovator, announces its financial results for the six months ended December 31, 2024.
The Company achieved a
"We continue to grow our vacation rental properties and enhance our insurtech solutions," says President Reed Wright. "Our technology stack and products continue to be recognized as an industry leader in the vacation rental, hotel, and events sectors, which is driving revenue growth towards profitability."
About InsuraGuest Technologies Inc.
Harnessing the Power of Technology to Reinvent Insurance
InsuraGuest Technologies (TSXV: ISGI) (OTCQB: ISGIF) is an innovative Insurtech company delivering insurance and warranty coverages to vacation rentals, hotels, resorts, and ticketed events. The Company offers tech-driven risk management solutions in the hospitality sector and continues to expand its offerings to meet market demands.
CA / LIC: 6001686
For more information, visit the company's website at: www.InsuraGuest.com
The Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. There is no assurance that this new business product offering or other planned products will be successful. The insurance and hospitality industries face increasing, and every-changing governmental regulation. The insurance industry is intensely competitive, and the Company's competitors have significantly more resources than the Company. Acceptance by potential customers is difficult to predict, particularly in the case of new products and disruptive technologies. If the Company fails to achieve market acceptance, this will significantly impact its results and financial resources. Achieving market acceptance may require advertising budgets that exceed the Company's current resources and require the Company to seek additional debt or equity financing. There is no assurance that such financing will be available at reasonable prices or at all.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Company Contact:
InsuraGuest Technologies, Inc.
Media Relations
Reed Wright
media@InsuraGuest.com
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241991
FAQ
What was InsuraGuest's (ISGIF) revenue growth in the six months ending December 2024?
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What factors drove InsuraGuest's (ISGIF) revenue growth in H2 2024?
