Technology

Givex Announces Second Quarter 2024 Financial Results

Published

2 months ago

July 29, 2024

Achieves positive net income for the second consecutive quarter and generates 6-month EBITDA of $3.6 million, a 470% year over year improvement

TORONTO, July 29, 2024 /PRNewswire/ – Givex Corp. (“Givex”) (TSX: GIVX) (OTCQX: GIVXF), is pleased to present its financial results for the six-month period ending June 30, 2024. Givex reports in Canadian dollars and in accordance with International Financial Reporting Standards (“IFRS”).

“By maintaining our strategic focus on profitable growth, we’ve achieved another quarter of year-over-year improvements across all key metrics, including revenue, gross profit, and net income,” stated Don Gray, CEO of Givex. “We’re optimistic this trend will continue for the remainder of 2024, given new business opportunities we’re actively pursuing.”

Second Quarter Financial Highlights

Three-month period ending June 30, 2024 (with comparisons relative to the three-month period ending June 30, 2023)

Revenue of $20.9 million, representing 7% growth.Gross Profit of $15.2 million, representing 8% growth.Net Income of $0.2 million, versus a $1.0 million loss in Q2, 2023.EBITDA1 of $1.9 million, a 224 % increase.Total Gross Transactional Value2 of $2.29 billion, an 8% increase.POS Gross Transactional Value3 of $ 529 million, a 12% increase.Customer Locations4 of 133,000, a 7% increase.As at June 30, 2024, Givex had $24.2 million in cash and cash equivalents.

Six-month period ending June 30, 2024 (with comparisons relative to the six-month period ending June 30, 2023)

Revenue of $41.7 million, representing 8% growth.Gross Profit of $29.2 million, representing 7% growth.Net Income of $0.7 million, versus a $2.2 million loss in six-month period ending June 30, 2023.EBITDA1 of $3.6 million, a 470% increase.Total Gross Transactional Value2 of $ 4.04 billion, a 9 % increase.POS Gross Transactional Value3 of $1.0 billion, a 14 % increase.

Operational Highlights

Payroll costs are the key focus to improved EBITDA and positive net earnings. For the 12-month periods ending June 30, 2024 and 2023, Employee Compensation5 as a % of Gross Profit was 53% for both periods. The company believes that its ability to control Employee Compensation as a % of Gross Profit is an indicator of its success in managing costs and profitability.

More Information
Additional financial information, such as the Q2, 2024 interim and the audited Fiscal 2023 financial statements, Management’s Discussion and Analysis of Financial Condition and Results of Operations, and Annual Information Form, is available on the company’s SEDAR at sedar.com.

More information about Givex, including the Management Presentation and Overview, are posted on the company’s investor relations website at investors.givex.com.

About Givex

The world is changing. Givex is ready. Since 1999, Givex has provided technology solutions that unleash the full potential of engagement, creating and cultivating powerful connections that unite brands and customers. With a global footprint of 133,000+ active locations across more than 100 countries, Givex unleashes strategic insights, empowering brands through reliable technology and exceptional support. Givex’s integrated end-to-end management solution provides Gift Cards, GivexPOS, Loyalty Programs and more, creating growth opportunities for businesses of all sizes and industries. Learn more about how to streamline workflows, tackle complex challenges and transform data into actionable insights at www.givex.com.

Non-IFRS Measures and Reconciliation of Non-IFRS Measures

The information presented includes certain financial measures such as “EBITDA” (see below for definition), which are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management’s perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. These non-IFRS measures are used to provide investors with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS measures. We also believe that securities analysts, investors, and other interested parties frequently use non-IFRS measures in the evaluation of issuers. Our management also uses non-IFRS measures to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts and to determine components of management compensation.

Forward Looking Statements

This press release contains forward-looking information. Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that we considered appropriate and reasonable as of the date such statements are made, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to, the risk factors described under the “Risk Factors” section in the Annual Information Form (AIF) dated March 22, 2024, available on SEDAR+ at www.sedarplus.ca and other filings with the Canadian securities regulatory authorities. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, prospective investors should not place undue reliance on forward-looking information, which speaks only as of the date made. See “Cautionary Note Regarding Forward-Looking Information” in the Filing Statement.

Additional Notes

1 EBITDA is defined as net profit (loss) excluding interest, taxes, depreciation and amortization (“EBITDA”).

2 Gross Transactional Value (“GTV”) means the total dollar value of stored and point-of-sale (“POS”) transactions processed through our cloud-based SaaS platforms in the period, net of refunds, inclusive of shipping and handling, duty, and value-added taxes. We believe GTV is an indicator of the success of our customers and the strength of our platforms. GTV does not represent revenue earned by us.

3 POS Gross Transactional Value (“POS GTV”) means the total dollar value point-of-sale (“POS”) transactions processed through GivexPOS, our cloud-based POS SaaS platform, in the period net of refunds, inclusive of shipping and handling, duty and value-added taxes. We believe POS GTV is an indicator of the success of our customers and the strength of our platforms. POS GTV does not represent revenue earned by us.

4 Customer Locations means a billing customer location for which the term of services has not ended, or with which we are negotiating a renewal contract. It includes both merchant locations that have transactions processed through our cloud-based SaaS platform, as well as merchant locations not on our platform but for which we provide other Givex services. A single unique customer can have multiple Customer Locations including physical and eCommerce sites. We believe that our ability to increase the number of Customer Locations served by our platform and products is an indicator of our success in terms of market penetration and growth of our business.

5 Employee Compensation as a % of Gross Profit means the total employee compensation for a period divided by the gross profit for the same period. Employee Compensation means total employee compensation including salaries and benefits, excluding both government assistance and share-based compensation. Gross Profit means revenue less direct cost of revenue.

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SOURCE Givex Corporation

Technology

Momentus Technologies Appointed to Drive Innovation in Venue and Event Management Operations at Dubai World Trade Centre

Published

2 mins ago

September 30, 2024

ST. LOUIS, Sept. 30, 2024 /PRNewswire/ — Dubai World Trade Centre (DWTC), a global leader in the events and exhibitions industry has appointed Momentus Technologies as its partner to elevate its venue and event management operations. The strategic partnership follows a remarkable milestone in 2023, where DWTC welcomed 2.47 million visitors, solidifying its status as an international powerhouse. By integrating Momentus Technologies’ state-of-the-art solutions, DWTC aims to transform its operations, setting new standards of efficiency and innovation across its diverse portfolio of high-profile, international exhibitions, and world-class conferences.

Mahir Julfar, Executive Vice President, Dubai World Trade Centre said: “At DWTC, we have built a reputation for maintaining exceptional standards in event and venue management, consistently meeting the evolving demands of the industry. Our partnership with Momentus Technologies is the next step in our journey to enhancing operational excellence. By integrating Momentus’ cutting-edge platform, we are not just boosting efficiency, but also setting new industry benchmarks. This collaboration enables us to continue delivering outstanding experiences for our global stakeholders, reinforcing DWTC’s leadership in international exhibitions and events.”

Momentus Technologies, renowned for delivering innovative venue and event management solutions, will provide a bespoke integrated platform to manage DWTC’s extensive event bookings, event and venue operations, and real-time data analysis. Momentus will leverage its expertise in handling complex logistics through innovative technology and work hand in hand with DWTC to continue to enhance efficiencies and deliver exceptional service quality across DWTC’s wide range of events.

“This partnership marks a significant milestone for Momentus as we expand our footprint in the Middle East,” stated Alex Alexandrov, CEO of Momentus Technologies. “We are honored to be chosen by the largest exhibition venue in the UAE and contribute to their mission of setting new benchmarks in the industry. Our platform’s advanced capabilities will support DWTC in achieving its strategic goals and enhancing its operational agility not only for today but well into the future.”

About Dubai World Trade Centre (DWTC):

A global business facilitator since 1979, Dubai World Trade Centre (DWTC) is home to the region’s leading purpose-built convention and exhibition centre. DWTC provides a platform for connecting people, products, innovation and ideas from around the world through a dynamic calendar of international trade exhibitions and its own roster of sector leading mega events. As a designated free zone, complemented by award-winning commercial real estate, DWTC plays an integral role in Dubai and the region’s growth story. Since its inauguration, DWTC has hosted over 6,000 events, with an estimated economic output of AED 248 billion, attracting over 38 million business visitors to Dubai.
www.dwtc.com

About Momentus Technologies

Momentus Technologies is a global provider of industry-leading venue and event management solutions that empower organizations to create extraordinary moments. With over 60,000 users in more than 50 countries, Momentus serves the needs of convention and exhibition centers, higher education, corporate, stadiums and arenas, and arts and culture centers. Its powerful intuitive platform alongside intelligent data-driven solutions and unparalleled expertise provides customers a view of past, present and future event operations to increase end-to-end visibility, optimize efficiency and achieve business goals. Founded in 1985, Momentus is headquartered in the United States. The company’s employees work across the globe in Momentus offices and remotely.
https://gomomentus.com/

Contact
North America Public Relations: Rebecca Meckstroth rebecca.meckstroth@gomomentus.com
EMEA and APAC Public Relations: Miriam Hageboeck miriam.hageboeck@gomomentus.com

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Technology

Chubb’s Digital Payments and Cyber Scams Survey Finds Growing Impact of Fraud on Consumers; Harms Trust in Payment Methods

Published

2 mins ago

September 30, 2024

Across the globe, 61% have changed their behavior or reduced use of digital payment platforms due to cyber scam concerns. 75% say transaction insurance would boost their trust, increasing adoption.

NEW YORK, Sept. 30, 2024 /PRNewswire/ — Chubb, a world leader in insurance, today released the results of its new global survey, “The Impact of Cyber Scams on Trust in Digital Payments,” revealing the growing impact of cyber fraud on consumers, the misconceptions regarding cyber protections, and the significant changes in consumer purchasing behavior driven by escalating worries over cyber breaches.

Digital payments have become part of our daily lives and are increasingly crucial to fostering financially inclusive economies. Chubb’s survey findings define the pivotal role insurance plays in building trust and helping to enable the growth of the digital payments ecosystem.

According to the survey conducted in the U.S., Mexico, Brazil, Indonesia, Singapore, the Philippines, Thailand, and Vietnam – nearly half (46%) of respondents mistakenly believe their payments are protected. This false sense of security is compounded by the fact that 61% of participants have changed their behavior or reduced their use of payment platforms due to fears about cyber scams.

Waning trust threatens exponential growth

All survey respondents have made a digital payment in the last year, and 63% have been a cyber scam victim or know someone who has been. The impact of this fraud extends beyond financial losses, eroding trust in payment platforms, hindering adoption.

“The future of digital payments is bright, and insurance will help play a crucial role in shaping its trajectory,” said Sean Ringsted, Chubb’s Chief Digital Business Officer. “At Chubb, we are committed to developing innovative insurance solutions that address the changing risks faced by individuals and businesses in the digital era. By fostering a mindset focused on awareness, vigilance and protection, we can ensure that the benefits of digital payments are accessible to all while mitigating the associated risks.”

Respondents were asked about nine different types of scams. They are most troubled by phishing/vishing and impersonation scams, as well as fake product or service purchases. Some 61% of respondents have changed their behavior or reduced use of certain digital payment platforms over concerns.

Key findings from Chubb’s Global Payments and Cyber Scams survey include:

Certain demographic and geographic survey audience segments report higher rates of being a victim of cyber scams

Women in Asia (33%).Younger people in the US (33%) and Asia (34%).At the market level, women in Thailand (39%), Philippines (38%), Indonesia (36%), and Brazil (32%).

Threats of being hacked looms large

53% voiced worry about their account being hacked.48% were troubled about a potential data breach.46% cited the possibility of being scammed as a barrier to trust.37% indicated unease at their ability to recover their money, if scammed.

Trust levels vary amongst the respondent audience

69% of women (vs. 65% of total respondents) completely trust digital payment technologies.68% of younger users (18-34 years old) do not completely trust these technologies.96% of those who make international transfers and 94% who make transfers weekly either somewhat, or completely trust digital technologies (vs. 91% globally) even though they are more susceptible to cyber scams.

Payment providers have an opportunity to close a trust gap

32% of respondents don’t trust the security of digital payment technologies.36% don’t trust their customer support.29% don’t trust platforms to protect their confidentiality.

Insurance could promote greater trust and adoption of digital payments

75% of respondents say transaction insurance would boost their trust.Impact of insurance is highest among consumers in Latin America – 84% would fully trust or trust payment technology much more if they had personal cyber-scam insurance, and 82% for payment protection insurance.Many respondents also see AI as a way to enhance security.

Methodology

Findings are based on a survey of 2,600 individuals in the U.S., Mexico, Brazil, Thailand, Singapore, Vietnam, Indonesia and the Philippines that explored the impact of cyberscams on levels of trust in digital payment technology. The survey was conducted by Opinium on behalf of Chubb in June 2024. The respondents were adults who had made digital money transfers through traditional banking apps / Fin Techs / Neo banks, or digital wire transfers in the last 12 months. The margin of error for the survey was +/- 2%.

About Chubb

Chubb is a world leader in insurance. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume, and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris, and other locations, and employs approximately 40,000 people worldwide. Additional information can be found at: www.chubb.com.

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SOURCE Chubb

Technology

NIMO to Host the Debut NIMO WAVE LIVE SHOW at Thailand Game Show 2024

Published

2 mins ago

September 30, 2024

BANGKOK, Sept. 30, 2024 /PRNewswire/ — As the global digital entertainment industry continues to flourish in 2024, the Thailand Game Show, Southeast Asia’s largest gaming event, remains a focal point for gaming enthusiasts. Since its inception in 2006, this annual event has successfully run for 17 years, drawing in over 200,000 attendees and featuring more than 100 exhibitors from the anime, gaming, and other sectors, which has become a marquee event in the Thai gaming calendar. This year, the Thailand Game Show will take place from October 18 to 20, 2024, at the Exhibition Halls 3-4, Queen Sirikit National Convention Center, in Bangkok.

As a global leader in pan-entertainment and e-sports live streaming, NIMO is invited as an official strategic partner for the 2024 Thailand Game Show. NIMO, in collaboration with the event organizers, is set to deliver an unforgettable experience—NIMO WAVE LIVE SHOW, a large-scale music festival that will mark the platform’s first foray into a live entertainment event of this magnitude, with an audience of over 1,000. This move will further strengthen NIMO’s capacity to explore the commercialization of pan-entertainment content.

NIMO Deepening Ties with Thailand Game Show and Showcasing a Multi-Layered Commercial Landscape

At this year’s event, NIMO will create a unique and interactive experience at Booth S4, dubbed the “NIMO GAME SOLUTION SPACE.” This space will feature a variety of themed areas, including the “NIMO STORE” stocked with trendy merchandise, interactive challenge zones, and social media check-in area. By completing fun challenges, fans will have the chance to win exciting prizes, such as NIMO squishy toys, emoji stickers, woven bags, and exclusive NIMO WAVE LIVE SHOW merchandise.

Earlier this year in April, NIMO hosted the GLOBAL GALA in Thailand, followed by high-profile appearances at ChinaJoy in China and Gamescom in Germany. Through a refreshed brand slogan, expanded trendy branding elements, and strengthened partnerships with game titles to seek more opportunities for cooperation, NIMO has demonstrated its commitment to continuously enhancing brand influence on a global scale. Returning to Thailand as a strategic partner of the Thailand Game Show, NIMO will work closely with the organizers to co-host its first-ever large-scale live music festival, fully showcasing its “gaming + music” marketing capabilities and bringing game brands and the entertainment-savvy youth audience together.

NIMO Expanding into Global Music to Increasingly Enrich Pan-entertainment Ecosystem

Beyond the three-day exhibition, NIMO will host the NIMO WAVE LIVE SHOW on October 19, 2024, at 8:30 PM, on the main stage of Exhibition Halls 3-4. The event will feature a stellar lineup of top Thai artists, including MILLI, IRONBOY, and the popular band PAPER PLANES, as well as Sisweet; in addition, Vietnam’s OEG Talent House will bring top artists, band lead vocalist Phạm Anh Khoa, guitarist Dzung, music producer and famous DJ Teddy Doox and DJ Brian to perform iconic gaming soundtracks, setting the stage alight and igniting the passion of gaming fans.

During the event, NIMO will also introduce its Musician Commercialization Support Project, aimed at providing global musicians with relevant resources to thrive in content creation, copyright management, brand collaboration, and monetization. The NIMO WAVE music category will serve as a key pillar in NIMO’s pan-entertainment ecosystem, and as the platform actively explores cross-industry collaborations and expands partnerships with global entertainment companies, tech platforms and cultural events, this will further cement NIMO’s presence in the global music industry.

This year’s Thailand Game Show is once again expected to draw massive attention from gaming enthusiasts, and NIMO’s strong presence will surely spark further excitement for the event. Tickets for both the Thailand Game Show and the NIMO WAVE LIVE SHOW on October 19 are available now. Fans can purchase tickets via the Zipevent platform. Looking forward to the surprises and joy that NIMO and the Thailand Game Show will bring to gamers this year!

Click here to purchase tickets for the 2024 NIMO WAVE LIVE SHOW:

https://www.zipeventapp.com/e/TGS2024

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SOURCE Nimo