Givex Announces Fiscal Year and Fourth Quarter 2021 Financial Results - RICH TV LIVE
Channel: RICH TV LIVE
Date: 31/03/2022

Givex Announces Fiscal Year and Fourth Quarter 2021 Financial Results - RICH TV LIVE - March 31, 2022 - #givex #financials #richtvlive #trading #stocks #business #news #finance #education #money #trading #stockmarket #pos #loyaltyprogram #giftcards Givex Information Technology Group Limited ("Givex") (TSX: GIVX) (OTCQX: GIVXF), is pleased to present its financial results for the fiscal year and three-month periods ending Dec. 31, 2021 .

Givex reports in Canadian dollars and in accordance with International Financial Reporting Standards ("IFRS").

"Our steady revenue growth and solid earnings reflect Givex's commitment to increasing revenue with consistent EBITDA margins," said Givex CEO Don Gray . "We increased our point of sale gross transaction volume by an incredible 54 per cent, and increased our total number of customer locations to 100,000 despite the pandemic-related challenges faced by our retail, restaurant and hospitality partners in 2021."

Mr. Gray added: "Our recent private placement, in connection with our listing on the Toronto Stock Exchange, strengthened our cash position to $35 million . This cash will be used to enhance our technology, make strategic acquisitions and at the same time keep our balance sheet healthy."

Fiscal Year Financial Highlights
(All comparisons are relative to the 12-month period ending Dec. 31, 2020 )

Revenue grew 7.1% to $55.2 million
*Gross transaction volume ("GTV") increased 19% to $6.5 billion
**POS gross transaction volume ("POS GTV") increased 54% to $793 million
***Adjusted EBITDA was $8.3 million in 2021 compared to $9 million in 2020 (However, when normalized for the Canadian Government's COVID-19 wage subsidy, which was $1 million in 2021 compared to $3.3 million in 2020, adjusted EBITDA increased 28% in 2021 compared to 2020)
****Customer locations reached approximately 100,000, an increase of 5,000
Completed reverse takeover transaction and listing on the Toronto Stock Exchange and concurrently raised $22 million through a private placement
Fourth Quarter Financial Highlights
(All comparisons are relative to the three-month period ending Dec. 31, 2020 )

Revenue decreased 4% to $15.2 million primarily due to increased COVID-19 pandemic restrictions in the fourth quarter of 2021
POS GTV increased 81% to $269 million
Adjusted EBITDA was $2.4 million in 2021 compared to $2.9 million in 2020 mainly because of the revenue decrease noted above
POS locations increased 42% to 1,201
Fourth Quarter Operational Highlights
Givex shares listed on the Toronto Stock Exchange
Launched GivexPay payment processing solution
Barburrito installed GivexPOS, online ordering, gift card and loyalty systems in all 170 locations
Buffalo Bills, Colorado Avalanche and Columbus Blue Jackets installed Uptix for customer payments and analytics
Implemented end-to-end technology solution in more than a third of Foodtastic's 650 restaurants across 21 brands
Brazilian companies distributed Givex-powered iFood Card to more than 60 million users and 100,000 points of sale
Began installing GivexPOS, online ordering, gift card, kitchen display and Pay@Table systems plus online ordering app in 40 Milestones restaurants Canada -wide

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