Shiftpixy Inc Stock Price, News & Analysis

ShiftPixy (NASDAQ:PIXY) reported significant growth for the fiscal year ending August 31, 2021. Annual revenues surged by 171% to $23.4 million, driven by increased billings and a shift in the staffing revenue model. While administrative fees rose 20%, gross profit declined by $0.6 million due to rising workers’ compensation costs. Total operating expenses reached $28.3 million, a 25.6% increase. The company is well-positioned for expansion with over 40,000 worksite employees and has launched key initiatives including SPAC sponsorships and the ShiftPixy Labs project.

ShiftPixy, Inc. (NASDAQ: PIXY), a staffing enterprise based in Florida, will present at the Sidoti Virtual Conference on December 8, 2021, at 1:45 pm ET. The company specializes in a disruptive human capital management platform designed for the Gig Economy, helping businesses manage shift-based employees. ShiftPixy aims to simplify compliance and enhance connections within the workforce. The Company cautions that forward-looking statements involve risks and uncertainties that may affect actual results.

ShiftPixy, Inc. (NASDAQ: PIXY) announced the promotion of Amanda Murphy to Chief Operating Officer, effective January 1, 2022. Murphy has been with the company since 2016, serving as Director of Operations and joining the Board in April 2020. CEO Scott Absher highlighted her critical role in the company’s success and the importance of her leadership as ShiftPixy embarks on its next growth phase following the completion of its SPAC, Industrial Human Capital, Inc. (NYSE: AXH/U). ShiftPixy aims to revolutionize employment in the Gig Economy through its innovative human capital management platform.

ShiftPixy (PIXY) has successfully completed the IPO of Industrial Human Capital, Inc. (AXHU), raising funds by selling 11.5 million units at $10 each. This includes an over-allotment option for an additional 1.5 million units. The units began trading on the NYSE on October 20, 2021. ShiftPixy aims to utilize its platform to integrate 100,000 employees into its ecosystem, potentially leading to an annual revenue increase of up to $1 billion and pre-tax earnings of $50 million. The company anticipates significant growth through client agreements with IHC.

ShiftPixy, Inc. (NASDAQ: PIXY) has formed an agreement in principle with Quelliv, Inc. to distribute the Genesis One laser device, enhancing safety for restaurants and retailers amidst COVID-19. This technology has been independently tested for its effectiveness in killing viruses in realistic settings. ShiftPixy aims to offer the system as part of its services to clients, with a major rollout planned for 2022. This partnership is a strategic move to support clients in maintaining cleaner environments as pandemic concerns linger.

ShiftPixy, Inc. (NASDAQ:PIXY) has entered a securities purchase agreement for a private placement of common stock and warrants, aiming to raise approximately $12 million. The deal involves selling 2,850,000 shares with accompanying warrants at $1.595 each, and 4,673,511 pre-funded warrants at $1.5949. The funds will be used for general corporate purposes, including operating expenses and investments related to special purpose acquisition companies. The placement is expected to close on September 3, 2021, pending customary conditions.

ShiftPixy, Inc. (NASDAQ: PIXY) will present at the Sidoti August Microcap Conference on August 19, 2021, at 9:15 am ET. The virtual presentation will outline the company’s innovative human capital management platform designed for the Gig Economy, enhancing connections between businesses and shift-based employees while addressing compliance challenges. With nearly 25 years of experience in workers’ compensation, ShiftPixy aims to revolutionize equitable employment practices. Investors can access the presentation here.

ShiftPixy, Inc. (NASDAQ: PIXY), a national staffing enterprise, will present at the D.A. Davidson Bison Select Conference on August 4, 2021, at 11:00 am ET. The virtual event will feature discussions with C-suite executives from micro to small-cap companies. ShiftPixy offers a disruptive human capital management platform aimed at improving employment in the Gig Economy, utilizing mobile technology to aid businesses with shift-based employees. The company stresses the importance of compliance and equitable practices in the evolving labor market.

ShiftPixy, Inc. (NASDAQ: PIXY) announced its participation in the Emerging Growth Conference on July 21, 2021. The virtual presentation will begin at 12:30 ET and can be accessed here. ShiftPixy is a staffing enterprise focusing on a human capital management platform that supports businesses with shift-based employees in the Gig Economy, enhancing regulatory compliance and operational efficiency.