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POSaBIT Systems Corporation develops financial technology for the cannabis industry, with products spanning point-of-sale software, cashless payment processing, eCommerce menus, loyalty tools and related merchant services. The company serves cannabis retailers and has expanded its software offering with POSaBIT Brands, an AI-driven portal for producers and processors that includes sales and inventory reporting, business intelligence, product catalog, vendor-managed inventory, order-building, data mapping, B2B ACH payments and custom reports.
POSaBIT news commonly covers quarterly and annual financial results, earnings conference calls, adjusted revenue and gross profit metrics, profitability measures, cash position updates, product launches and cannabis regulatory developments that affect payment acceptance and licensed operators.
POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF), a cannabis industry payments infrastructure provider, has scheduled its Q1 2025 earnings conference call for May 30, 2025, at 4:30 PM ET. The call will discuss results for the quarter ended March 31, 2025.
The company is accepting investor questions via email at investors@posabit.com until 12:00 PM ET on May 30, with top questions to be addressed during the Q&A session. The call will be accessible via toll-free numbers (888-506-0062 for US) and webcast, with replay options available approximately 1 hour after completion.
POSaBIT Systems (POSAF) reported its Q4 and full-year 2024 financial results, showing mixed performance. The company's adjusted gross profit increased 19% year-over-year, while Point of Sale store growth exceeded 50%. Key financial metrics include:
- Revenue declined 65% to $15.27M (2024) from $43.57M (2023)
- Gross profit decreased 24% to $7M (2024) from $9.22M (2023)
- Operating costs reduced by 35% to $12.17M
- Net loss improved to $5.71M from $13.76M previous year
The company maintains a strong presence in Washington State, with its Point of Sale system in over 70% of dispensaries and processing over 85% of sales. Their new eCommerce/Menu platform has been adopted by nearly 100 dispensaries since its Q3 2024 beta launch. Cash position stands at $1M compared to $1.5M in 2023.
POSaBIT Systems (CSE: PBIT, OTC: POSAF), a leading cannabis industry payments infrastructure provider, has announced its upcoming fourth quarter and FY 2024 earnings conference call scheduled for April 24, 2025, at 4:30 PM ET.
The company is actively soliciting investor questions prior to the call, which should be submitted to investors@posabit.com by 12:00 PM ET on April 24, 2025. The CEO will address the most frequently asked questions during the Q&A segment.
The conference call will be accessible via toll-free numbers (888-506-0062 for US, 973-528-0011 for international) using participant code 977825, with a webcast available. A replay option will be provided approximately one hour after the event.
POSaBIT Systems (CSE: PBIT, OTC: POSAF) has achieved a significant milestone in Washington State, now processing over 85% of all cannabis point of sale transactions in the region. The company, established in 2015, has expanded its presence to serve more than 500 locations across 20+ states.
As a leading provider of point of sale and payments infrastructure in the cannabis industry, POSaBIT recently launched their ecommerce menus in 2024, offering dispensaries a comprehensive all-in-one tech solution. Washington State, being one of the first two legal cannabis markets in the US, represents a stable cannabis economy where POSaBIT has established strong market dominance.
POSaBIT Systems reported Q3 2024 financial results, marking its second consecutive quarter of positive Adjusted EBITDA, which grew 53% quarter-over-quarter. The company achieved $4.08 million in revenue and an Adjusted Gross Profit Margin of 54%. Notable operational highlights include launching eCommerce menu to ~40 merchants, doubling merchant count in Oregon, and migrating all payment merchants to POSaBIT One platform. The company maintained $900,000 in cash and equivalents, with Adjusted Revenue of ~$5 million and Adjusted Gross Profit of ~$2.7 million for the quarter.
POSaBIT Systems , a leading cannabis industry payments infrastructure provider, has announced its upcoming third quarter 2024 earnings conference call scheduled for November 26, 2024, at 4:30 PM ET. The company is actively seeking investor questions prior to the call, which should be submitted to investors@posabit.com by 12:00 PM ET on the same day. The call will be accessible via toll-free and international dial-in numbers, with a participant access code. A webcast replay will be available approximately one hour after the event conclusion.
POSaBIT Systems has completed the full integration of Metrc Connect reporting in their cannabis Point of Sale system across all states using the track and trace system. This integration enables POSaBIT's partner dispensaries to automatically report required data to regulatory bodies through their POS software. The development represents a significant advancement in compliance capabilities for POSaBIT's cannabis retail solutions.
POSaBIT Systems (CSE: PBIT, OTC: POSAF), a leading cannabis industry payments and point-of-sale provider, reported Q2 2024 financial results. Highlights include:
- Achieved adjusted EBITDA profitability and positive free cash flow
- Q2 Adjusted Gross Profit of $3M (59% margin), up 31% from Q1
- Q2 Adjusted Revenue Growth of 11% over Q1 2024
- Increased cash on hand by ~$200K to $1.1M
- Launched POSaBIT Pay app and redesigned eCommerce Menu
- On track to process over $1B in annual gross sales in Washington State
The company aims for continued adjusted EBITDA profitability and cash reserve growth while maintaining steady growth in Point-of-Sale and Payments businesses.
POSaBIT Systems (CSE: PBIT, OTC: POSAF), a leading provider of payments infrastructure in the cannabis industry, has announced its upcoming second quarter 2024 earnings conference call. The call is scheduled for August 27, 2024, at 4:30 PM ET. POSaBIT is actively soliciting investor questions prior to the call, which should be submitted to investors@posabit.com by 12:00 PM ET on the day of the call. The company's CEO will address the top questions during the Q&A session. Conference call details, including toll-free and international dial-in numbers, as well as webcast information, have been provided. A replay of the call will be available approximately one hour after the live event concludes.
POSaBIT Systems reported its Q1 2024 financial results, focusing on sustainable profitability and growth. The company achieved an adjusted gross profit of $2.3M with 50% margins and annualized adjusted gross profit of $10M as of March. Despite a 67% year-over-year decline in revenue to $3.78M, cost of goods sold dropped by 75%, improving margins. CEO Ryan Hamlin highlighted the company's strategic adjustments, including multiple payment options and growing Point of Sale business. POSaBIT finalized banking and software requirements for potential full credit card processing. The company held $0.9M in cash as of March 31, 2024, down from $1.5M at the end of 2023.