Xtm Inc Stock Price, News & Analysis

XTM, Inc. reported a remarkable 214% increase in revenue for Q1 2022, reaching $797K, compared to Q1 2021. The company's gross dollar value (GDV) loaded on its platform was nearly $70MM, up 313% year-over-year. Active users on the Today™ program soared to 49K, a 323% growth. Operating expenses rose to $1,576K, reflecting investments in growth initiatives. As of March 31, 2022, cash reserves totaled $6.4MM, down from $8.4MM at year-end due to operational funding requirements.

XTM, Inc. (QB: XTMIF / CSE:PAID / FSE:7XT), a fintech firm, has appointed Mr. Veer Siddiqui as Chief Operating Officer and General Counsel. With over 12 years in legal advisement, Siddiqui's background includes significant roles in technology law and corporate counsel, notably with Tasktop Technologies and Terramera. Furthermore, XTM has introduced a new equity incentive policy allowing ongoing issuance of restricted share units (RSUs) and stock options to attract and retain talent, totaling 1,000,000 RSUs and 2,500,000 options, aimed at boosting company growth and employee engagement.

XTM, Inc. has reported impressive growth in Gross Dollar Value (GDV), achieving a 54% increase in March and a further 6% rise in April 2022. March's peak GDV reached $1.7 million, followed by $1.8 million in April. CEO Marilyn Schaffer attributes this success to a resurgence in client engagement and consumer socialization as pandemic restrictions ease. The company remains financially strong with proceeds exceeding CAD $8.5 million from a previous funding round. XTM's model focuses on enhancing the user experience through mobile banking solutions.

XTM has partnered with the Massachusetts Restaurant Association (MRA) to offer valuable employee benefits, including Earned Wage Access, to MRA members. This collaboration supports the hospitality industry in Massachusetts, which boasts over 18,000 restaurants and employs a significant portion of the workforce. With nearly 60 new establishments onboarding within the last month, XTM aims to expand its U.S. presence. CEO Marilyn Schaffer emphasizes the partnership's role in helping restaurants attract and retain staff as they recover from shutdowns.

XTM, Inc. reported impressive financial growth for 2021, achieving a 175% increase in revenue to $2,380,647, up from $853,169 in 2020. The gross profit rose significantly to $755,157, yielding a gross margin of 31.7%. Despite these gains, the company noted a net loss of $4,755,875 for the year. Notably, XTM expanded its customer base by signing 732 new locations, bringing the total to 1,341, and saw a 410% increase in gross dollar value loaded on its platform, reaching over $153MM.

XTM, Inc. is hosting a shareholder update to discuss its operations in the neo-banking sector, specifically targeting the hospitality and personal care industries. The company's innovative solutions facilitate access to earned wages and gratuities via a mobile app and a debit card, enhancing financial flexibility for service workers. Currently, XTM's technology is implemented in numerous establishments across Canada and the U.S., driving operational efficiencies and improving user experiences. For more details, shareholders can join the update or download the presentation deck via links provided.

XTM, Inc. (QB: XTMIF / CSE: PAID), a Miami and Toronto-based fintech firm, is hosting a shareholder update to discuss its growth in the Canadian and US markets. CEO Marilyn Schaffer highlighted the influx of inquiries and the company's progress in adding users and products. The presentation link will be shared prior to the event. XTM specializes in neo-banking solutions, offering a mobile app and debit card to facilitate earned wage and gratuity access for service workers in the hospitality sector. For more details, visit www.xtminc.com.

XTM has successfully integrated with 20 restaurant-focused POS systems, enhancing its mobile banking and payment solutions. This integration allows real-time data transfer between POS software and operational platforms, simplifying access to employee earnings and gratuities. The capability is expected to accelerate the rollout of Earned Wage Access for service workers in the US, potentially improving restaurant operations. XTM aims to streamline integration processes, significantly reducing the time required to connect with multiple systems.

XTM, Inc. (QB: XTMIF / CSE: PAID) has announced the launch of Apple Pay and Google Pay for its U.S. Today™ program users. This fintech initiative aims to enhance customer experience at the point of sale (POS), enabling mobile payments through NFC technology. With Apple Pay already accepted at over 90% of U.S. retailers, the integration is expected to increase POS spending and interchange revenue based on gross dollar value loads. CEO Marilyn Schaffer emphasized a commitment to customer satisfaction and shareholder value through secure payment solutions.