Xtm Inc Stock Price, News & Analysis

XTM Inc., a Miami and Toronto-based fintech company, announced its strategic focus and growth in the hospitality and service sectors. The company plans to release its 2022 year-end results by April 29, 2023. CEO Marilyn Schaffer highlighted the shift towards a SaaS model for product monetization, enhancing worker experience through expense management and gamification. She expressed confidence in the company's ongoing success, emphasizing that changes will take time to materialize. Despite positive market response, forward-looking statements suggest potential risks and uncertainties. For more information, visit XTM's website.

XTM Inc. reported significant growth in December, with Gross Dollar Value (GDV) reaching $50.4 million, reflecting a 14.4% increase from November. The company added nearly 100 new locations and 1,000 wallet holders during the month. A beta version of the ‘Budget Insights’ subscription service attracted over 1,000 opt-ins in its first two weeks. CEO Marilyn Schaffer expressed confidence in the company's momentum and the successful rollout of new business initiatives in the U.S., including staffing agency integrations and automated management solutions.

XTM Inc. has announced a strategic partnership with BookJane to offer workforce management solutions across healthcare and hospitality sectors. This collaboration allows BookJane to provide XTM’s on-demand pay platform to its extensive network in Canada, the US, and Europe, enhancing staff management capabilities. With multiple joint installations ready for deployment, the first launch is set with Breakaway Staffing in early Q1 2023. XTM’s services aim to address labor shortages and operational inefficiencies in these industries, contributing to increased revenue streams.

XTM, Inc. (QB: XTMIF / CSE: PAID) reported a 70% increase in revenue for Q3 2022, totaling just under $1.5MM, primarily from the Canadian market. The Gross Dollar Value (GDV) reached $137MM, a 182% growth year-over-year. Active users soared to 64K, reflecting a 154% rise from Q3 2021. However, Gross Profit dropped by $84K, or 22%, due to increased engineering costs. Cash reserves decreased to $4.2MM, primarily due to operational funding and investments in product innovation.

XTM Inc. reported a remarkable 300% increase in new business leads following a successful webinar focused on tax compliance for gratuity disbursements, hosted in partnership with Restaurants Canada and hospitality tax lawyer James Rhodes.

The Company is preparing to launch its Earned and Early Wage Access solution in the US, viewing it as a significant growth market. CEO Marilyn Schaffer emphasized this commitment, citing the potential for tenfold market opportunities. With banking and compliance approvals nearing completion, XTM is developing a strong pipeline of clients.

XTM Inc., a fintech company based in Miami and Toronto, is partnering with Restaurants Canada to offer a webinar aimed at protecting restaurants regarding gratuity payouts. This initiative follows a notable court case involving the Canadian Revenue Agency, which has raised concerns in the industry. The webinar will clarify important legal distinctions and propose actionable solutions for compliance. XTM's Today platform has reportedly achieved year-over-year growth of 224% in revenue, indicating a strong market performance.

XTM Inc. held its annual shareholder meeting on October 12, 2022, where shareholders approved all proposed matters, including the election of four directors and the appointment of MNP LLP as auditors. New directors Keith McKenzie and Olga Balanovskaya join returning members Marilyn Schaffer and Randy Khalaf. The resignation of Cameron Chell was also announced, marking a significant transition in the board's composition. The company is focused on growth and innovation in the neo-banking sector, enhancing access to earned wages for service workers.

XTM, Inc. (QB: XTMIF / CSE: PAID) has announced a major rebranding of its Today program, including a new website, logo, and the app 'Today Financial'. The program has seen substantial growth in membership and user engagement over the past year, indicating its effectiveness in supporting businesses in recruiting and retaining service workers. CEO Marilyn Schaffer emphasized the importance of user experience and brand identity in reflecting the company’s accelerated growth and commitment to improving employee payment solutions.

XTM, Inc. (CNSX:PAID / QB: XTMIF) has partnered with Terroir to provide same-day pay for food and beverage staff using its Today platform. This collaboration aims to address staffing challenges in the hospitality sector by offering immediate access to earned wages. XTM's Today solution, which includes a mobile app and a debit card, facilitates instant payouts for service workers in Canada and the U.S. The partnership underscores XTM's commitment to innovation in financial services for the hospitality industry.