Welcome to our dedicated page for PAYFARE news (Ticker: $PYFRF), a resource for investors and traders seeking the latest updates and insights on PAYFARE stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect PAYFARE's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of PAYFARE's position in the market.
Payfare Inc. announced its Q1 2024 financial results, including net income of $5.1 million and adjusted net income per share of $0.15. The company reported record revenue of $51.9 million, a 23% increase year-over-year, with a total of 1,423,502 active users. Gross profit increased by 36% to $12.8 million, while net income grew by 296% to $5.1 million. Adjusted EBITDA increased by 98% to $6.0 million, and free cash flow was $5.8 million. Payfare also launched the Uber Pro Card program, a new embedded finance product, and signed a commercial agreement with ADP to offer Earned Wage Access in Canada.
