XTM Reports 200% GDV Growth In 2022

Rhea-AI Impact

(Low)

Rhea-AI Sentiment

(Neutral)

Tags

04/26/2023 - 08:30 AM

A Revenue Increase of 112%

MIAMI & TORONTO--(BUSINESS WIRE)-- XTM Inc. (“XTM” or the “Company”) (QB: XTMIF / CSE:PAID / FSE:7XT), a Miami and Toronto-based Fintech creator of disruptive payment innovations and staff management solutions specifically for service industries including hospitality, personal care and service staff today announced that 2022’s Gross Dollar Value (“GDV”), a non-IFRS metric the Company monitors to track performance increased 200% over the previous year of 2021.

“We are pleased with our results, growth, innovations, and revenue,” said Marilyn Schaffer, XTM CEO. “Our rapid growth creates increased auditing complexity as it relates to huge volumes of transactions,” said Marilyn Schaffer, CEO, XTM. “We look forward to fully publishing our 2022 results and subsequent events that will further define us.”

On innovation includes the company adding ancillary revenue streams such as Today Goals™ in-app subscription-based and gamified budgeting tool, with a high conversion rate. As well, the company is now implementing its SAAS Timely™ module, time and attendance and staff management for employment agencies and professional employment organizations with a live date in 30-45 days.

About XTM

XTM, www.xtminc.com, is a Miami and Toronto-based fintech innovator in the neo-banking space, helping businesses and service workers in the hospitality and personal care space disseminate and access earned wages and gratuities. XTM's Today™ Solution, comprised of a free mobile app and a Visa or Mastercard debit card with free banking features, is used by thousands of restaurants, salons and staff across Canada and the United States. XTM is a global card issuer and real-time payment specialist and its technology is used by Restaurants and Salons at no charge to automate and expedite worker payouts and eliminate cash from their ecosystems. XTM's Today solution drives enterprise value with efficiency and a bespoke user experience designed specifically for restaurateurs and personal care services.

This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws (the “forward-looking statements”), within the meaning of applicable Canadian securities legislation. Forward-looking information is not a guarantee of future performance or results, since it involves risks and uncertainties. There is no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in forward-looking statements. Some of the factors on which the forward-looking statements are premised include (but are not limited to) the satisfaction or waiver of the conditions to the completion of the private placement, the receipt of the approval of the Canadian Securities Exchange, and the lack of material changes to general economic, market and business conditions. The CSE has not approved nor disapproved the contents of this press release, and the CSE does not accept responsibility for the adequacy or accuracy of this release.