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Associated Press
29-05-2025
- Business
- Associated Press
MineHub Reports Fiscal 2025 Annual Financial Results
Vancouver, British Columbia--(Newsfile Corp. - May 29, 2025) - MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) ('MineHub' or the 'Company'), a leading provider of digital supply chain solutions for the commodity markets, is pleased to announce it has filed its audited annual consolidated financial statements (the 'Annual Financial Statements') and management's discussion and analysis (the 'MD&A') for its fiscal year ended January 31, 2025. Copies of the Annual Financial Statements and MD&A are available on the Company's profile on SEDAR+ at Fiscal 2025 was a year of strategic execution that built on the vision MineHub outlined at the start of the year. Despite macroeconomic pressures extending sales cycles, the Company maintained rigorous focus on recurring SaaS revenue, which grew 17% year-over-year, while laying groundwork for scalable, sustainable growth. Key highlights for the fiscal year include: As industries face mounting regulatory and efficiency demands, MineHub is leveraging partnerships in Asia with key players including CargoGo and Sumitomo Corporation and strategic collaborations to accelerate adoption of its solutions. These efforts, combined with scalable product innovations, position the Company to sustainably grow recurring revenue in fiscal 2026. Chief Executive Officer Andrea Aranguren commented, 'Fiscal 2025 was a pivotal year for MineHub as we successfully executed our strategy to transition towards recurring SaaS revenue, resulting in a 17% year-over-year increase in the segment. Our growth in GMV, continued platform enhancements, and the closure of the Abaxx partnership reinforce our momentum and confidence to deliver long-term value. By prioritizing customer-driven innovation, operational discipline, and strategic focus, MineHub is building a resilient foundation for sustainable growth in volatile markets.' Accelerating Customer Activity Accelerating customer activity is increasing cumulative GMV transacted on the MineHub platform. MineHub achieved GMV of US$14.7 billion of commodities transacted on its platform in the year ended January 31, 2025, compared to US$12.2 billion in the year ended January 31, 2024. Fourth Quarter Business Highlights (November 1, 2024 - January 31, 2025) Outlook for Fiscal 2026 Building on fiscal 2025's strategic groundwork, MineHub is well-positioned to accelerate growth through a phased execution plan that balances immediate priorities with long-term market expansion: Core Market Execution: Adjacent Market Penetration: Strategic Collaboration: New Market Testing: Long-Term Growth Levers: Results of Operations [This table cannot be displayed. Please visit the source.] Annual Financial Highlights MineHub recorded revenue of $2.0 million in fiscal 2025, holding steady compared to the prior year. However, the composition of revenue shifted as the Company focused on growing stable, recurring SaaS revenue instead of pursuing non-recurring and highly variable professional services contracts. As a result, SaaS revenue increased by $240,374, representing a 17% increase compared to fiscal 2024, and this growth in SaaS revenue more than offset a decrease in professional services revenue. Net loss for fiscal 2025 was $6.2 million, compared to a net loss of $6.5 million in the prior year. The decrease in net loss is primarily due to operating expense reductions, partially offset by non-recurring other income in the prior year. Fourth Quarter Financial Highlights MineHub's fourth quarter fiscal 2025 revenue was $386,391. This represents a decrease of $255,091 compared to the prior year, as the Company has successfully transitioned to a recurring SaaS subscription revenue model rather than pursuing one-off professional services fee arrangements that occurred in fiscal 2024. MineHub recorded a net loss of $1.6 million in the fourth quarter, compared to $1.2 million in the same period last year. This $309,561 increase in net loss was primarily due to a decrease in professional services revenue, partially offset by changes in other income and expenses. Webinar Details The Company will also host an investor webinar to discuss its annual financial results on Thursday, May 29, 2025 at 9:00 am PT (12:00 pm ET). The webinar will be hosted by Andrea Aranguren, Chief Executive Officer, and Monika Russell, Chief Financial Officer, who will provide a corporate update, review the annual financial results, and discuss the company's outlook; followed by a question and answer session. About MineHub MineHub is the digital supply chain platform for the commodity markets, making raw material supply chains more efficient, resilient and sustainable. MineHub provides enterprise-grade digital solutions that connect buyers, sellers, laboratories and financiers within physical commodities supply chains in a digitally integrated workflow powered by data that is useable, shareable, verifiable and unforgeable. Users of MineHub solutions are in full control of their supply chains, enabling them to optimize their use of resources, respond better and faster to disruptions, and provide a better customer service. Global enterprises already use MineHub solutions as part of their logistics, compliance, trade management and financing operations. Andrea Aranguren CEO, MineHub Technologies Inc. For further information regarding MineHub, please email [email protected] or visit our website at Tel: (778) 373-3747. Cautionary Note Regarding Forward-Looking Statements Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains statements that are considered 'forward-looking information' within the meaning of applicable Canadian securities legislation ('forward-looking statements') with respect to MineHub including, but not limited to, statements with respect to MineHub's future operational plans, the timing of such plans and anticipated customers. Forward-looking statements are statements that are not historical facts are generally, but not always, identified by the words 'expects', 'plans', 'anticipates', 'believes', 'intends', 'estimates', and similar expressions, or that events or conditions 'will', 'would', 'may', 'could' or 'should' occur. Although MineHub believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company's ability to raise sufficient capital to fund its operations, applications and for general working capital purposes, changes in economic conditions or financial markets, changes in laws or regulations that could have an impact on the Company's operations, dependence on its key management personnel and market competition. Other risk factors are identified in the 'Risks and Uncertainties' section of the Company's management discussion and analysis for the year ended January 31, 2024, available on the Company's SEDAR+ profile at There may be other risk factors not presently known that management believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking statements. Although the Company has attempted to identify risk factors that could cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Also, many of the factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward-looking statements or information. The forward-looking information is made as of the date included herein, and the Company assumes no obligation to publicly update or revise such forward-looking information. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of MineHub's management on the date the statements are made. However, except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors should change. Footnotes: (1) To view the source version of this press release, please visit
Yahoo
12-05-2025
- Business
- Yahoo
Maple Leaf Foods Management Information Circular Now Available
TSX: Maple Leaf Foods' Board of Directors recommends shareholders vote FOR the spin-off of Canada Packers Inc., a new independent public company, and FOR all other meeting resolutions Shareholders who have questions about the meeting resolutions or need assistance with voting should contact Maple Leaf Foods' proxy solicitation agent, Laurel Hill Advisory Group, by telephone at 1-877-452-7184 or by email at assistance@ MISSISSAUGA, ON, May 12, 2025 /CNW/ - Maple Leaf Foods Inc. ("Maple Leaf Foods" or the "Company") (TSX: MFI) today announced that it has filed its 2025 Notice of Annual and Special Meeting of Shareholders and Management Information Circular (the "Circular") with securities regulators. The meeting is scheduled to take place on Wednesday, June 11, 2025 at 9:00 a.m. (ET) (the "Meeting"). The Meeting is being hosted in a hybrid structure, meaning that shareholders may attend virtually by a live video webcast or in person at ThinkFood!, 6897 Financial Drive, Mississauga, Ontario, Canada. Shareholders are encouraged to review the Circular as it contains important information about the Meeting, including: the election of Maple Leaf Foods' directors, the appointment of the Company's auditors, the approval of the spin-off of the Company's pork operations by way of plan of arrangement to form Canada Packers Inc., a new independent publicly traded company (the "Transaction"), the approval of the Canada Packers Option Plan (subject to the approval of the Transaction), and Maple Leaf Foods' approach to executive compensation. If the Transaction is approved, and subject to satisfaction of the other closing conditions, Maple Leaf Foods will enter a bold new chapter as a focused, purpose-driven, and protein-centric consumer packaged goods company, and Canada Packers Inc. will emerge as a new independent public company that will be unleashed as a global leader in sustainably produced, premium quality, value-added pork with diversified sales mix and global reach. Both companies will be uniquely positioned to meet the world's growing demand for sustainable protein, creating value for all stakeholders. Notice and Access The Company is again using "Notice and Access" to deliver the Circular and related meeting materials, including its 2024 Annual Financial Statements, by providing shareholders with notice of availability and access to the materials online at and on SEDAR+ at Notice and Access is an environmentally friendly and cost-effective way to distribute these materials since it reduces printing, paper and postage. Please see below for links to the Notice and Circular: Management Information Circular Notice and Access Letter Shareholders are encouraged to cast their votes early by proxy and to check the Maple Leaf Foods website at for additional information about the Annual Meeting. Instructions for shareholders wishing to request paper copies of any of the meeting materials are included in the Notice. The deadline for voting your shares is at of 9:00 a.m. (ET) on June 9, 2025. Shareholder Questions Shareholders who have questions or need assistance with voting their shares may contact Maple Leaf Foods' shareholder communications advisor and proxy solicitation agent: Laurel Hill Advisory GroupToll Free: 1-877-452-7184 (for shareholders in North America)International: +1 416-304-0211 (for shareholders outside Canada and the US)By Email: assistance@ About Maple Leaf Foods Maple Leaf Foods is a leading protein company responsibly producing food products under leading brands including Maple Leaf®, Maple Leaf Prime®, Maple Leaf Natural Selections®, Schneiders®, Mina®, Greenfield Natural Meat Co.®, LightLife® and Field Roast™. The Company employs approximately 13,500 people and does business primarily in Canada, the U.S. and Asia. The Company is headquartered in Mississauga, Ontario and its shares trade on the Toronto Stock Exchange (MFI). Forward-Looking Statements This document contains, and the Company's oral and written public communications often contain, "forward-looking information" within the meaning of applicable securities law. These statements are based on current expectations, estimates, projections, beliefs, judgements and assumptions based on information available at the time the applicable forward-looking statement was made and in light of the Company's experience combined with its perception of historical trends. Such statements include, but are not limited to, statements with respect to objectives and goals, in addition to statements with respect to timing, execution, implications, benefits, risks, returns, opportunities, structure, approvals, value proposition and business model associated with the proposed separation of the Company into two independent public companies, as well as the Company's overall plans, actions and strategies. Forward-looking statements are typically identified by words such as "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "could", "would", "believe", "plan", "intend", "design", "target", "undertake", "view", "indicate", "maintain", "explore", "entail", "schedule", "objective", "strategy", "likely", "potential", "outlook", "aim", "propose", "goal", and similar expressions suggesting future events or future performance. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Specific forward-looking information in this document may include, but is not limited to statements with respect to: the Transaction; the benefits of the Transaction; the timing and business of the Meeting; the receipt of shareholder approval and satisfaction of the other closing conditions, in respect of the Transaction. These statements are based on and were developed using a number of assumptions including, but not limited to expectations and assumptions concerning the completion and expected benefits of the Transaction. Readers are cautioned that these assumptions may prove to be incorrect in whole or in part and actual results may differ materially from those anticipated in any forward-looking statements. Factors that could cause actual results or outcomes to differ materially from the results expressed, implied, or projected in the forward-looking statements contained in this document include, among other things, risks associated with the following: the Transaction not proceeding as expected, including as a result of regulatory, market or other factors; the conditions of the Transaction not being satisfied, approvals or rulings not being secured on acceptable terms or at all; the possibility that the Transaction will not be completed within the anticipated time period or at all; and other factors as set out under the heading "Risk Factors" in the Company's Management Discussion and Analysis for the year ended December 31, 2024, which is available on SEDAR+ at The Company cautions readers that the foregoing list of factors is not exhaustive. All forward-looking statements included herein speak only as of the date hereof. Unless required by law, the Company does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements contained herein are expressly qualified by this cautionary statement. View original content to download multimedia: SOURCE Maple Leaf Foods Inc. View original content to download multimedia:
Cision Canada
28-04-2025
- Business
- Cision Canada
EMERGE Reports Strong Q4 and Full Year 2024 (Audited) Results
3 rd consecutive quarter of organic revenue growth, return-to-growth for FY 2024 Major improvement in profitability YoY, including positive net income in Q4 YoY growth in cash balance without a capital raise Strong outlook for 2025, including accretive acquisition completed in Q2 2025 TORONTO, April 28, 2025 /CNW/ - EMERGE Commerce Ltd. (TSXV: ECOM) (" EMERGE" or the " Company"), a premium, Canadian e-commerce and retail brand portfolio, today announced results for its three and twelve months ended December 31, 2024. Copies of the Annual Financial Statements and MD&A are available on the Company's profile on SEDAR at Q4 2024 Financial Highlights For the fourth quarter of 2024, compared to the fourth quarter of 2023: Q4 revenue increased to $5.6M vs. $5.1M Excluding Carnivore Club (sold in January 2025), Q4 revenue increased to $5.3M vs. $4.6M, representing growth of 15% Gross profit increased to $2.2M vs. $2.1M Adjusted EBITDA 1 improved to ($11K) vs. ($345K) Net income from continuing operations improved to $0.3M vs. ($10.7M) Net income improved to $0.3M vs. net loss of ($17.5M) Cash on hand at December 31, 2024 was $3.1M vs. $2.5M Full Year 2024 Financial Highlights For the full year 2024, compared to full year 2023: Annual revenue increased to $20.4M vs. $19.6M Excluding Carnivore Club (sold in January 2025), annual revenue increased to $19.3M vs. $17.7M, representing growth of 9% Gross profit increased to $8.2M vs. $7.6M Adjusted EBITDA 1 improved to ($0.46M) vs. ($1.78M) Net loss from continuing operations improved to ($1.1M) vs. ($15.6M) Net loss improved to ($0.5M) vs. ($21.3M) EMERGE's recently announced acquisition of Tee 2 Green ("T2G") is not included in 2024 results. T2G achieved approximately $1M Adjusted EBITDA (1) and $700K net income in 2024 (unaudited). Ghassan Halazon, Founder and CEO, EMERGE commented, "2024 was a transformative year for EMERGE. We executed against our stated priorities with precision. We delivered on our promise to re-ignite organic revenue growth, we streamlined the business under our more focused EMERGE 2.0 strategy, we drastically improved profitability, we substantially reduced our debt, and we grew our cash position year-over-year without a capital raise. Perhaps nowhere was our progress more evident than in Q4, where we delivered double-digit revenue growth, close to breakeven Adjusted EBITDA (1) and positive net income. Our stellar results in Q4 were the culmination of the team's hard work all year long. I want to take this opportunity to congratulate the team, our Board, and our trusted partners on all the outstanding operational progress achieved. We look forward to building on this momentum in 2025 and beyond." Events Subsequent to December 31, 2024 Sale of Carnivore Club On January 15, 2025, EMERGE completed the asset sale of Carnivore Club for a total purchase price of $500,000. Carnivore Club was a non-core asset, and EMERGE was actively eliminating its revenue in 2024, while prioritizing the growth of our larger, more profitable businesses. 2024 results include Carnivore Club. Q1 2025 will be the first financial report to classify Carnivore Club as discontinued operations, with prior period results to reflect the reclassification, where noted. Acquisition of Tee 2 Green On April 4, 2025, EMERGE closed the acquisition of all the issued and outstanding shares of Tee 2 Green Ltd. ("T2G"). T2G is a profitable, discount golf apparel and equipment business with a 38-year track record of operations, focused on the Canadian market. T2G achieved revenue of $6.4M, Adjusted EBITDA (1) of $1M and net income of $700K in 2024 (unaudited). T2G is expected to be highly synergistic with EMERGE's extensive golf business, which includes UnderPar and JustGolfStuff, along with a 400,000+ golf subscriber database. EMERGE utilized the cash proceeds from the Carnivore Club transaction, as well as the previously announced sale of the premium, dormant SHOP domains to Shopify (TSX: SHOP) towards closing the T2G acquisition. Debt Refinancing Alongside the T2G transaction on April 4, 2025, the Company also entered into a first amendment (the "Amended Facility") to the second amended and restated credit agreement dated January 31, 2024 with its existing lender. The Amended Facility provides an 18-month extension, and an additional 6-month extension option provided that lender consent is obtained. Inclusive of the 6-month extension, the Amended Facility would mature in April 2027. The Company remains in good standing with existing lender, which it has worked with since November 2019. The recent interest rate cuts, as well as the anticipated upcoming rate reductions, are expected to result in meaningful cash savings for the business. Outlook Management is seeing continued operational momentum year-to-date. truLOCAL, our flagship Canadian meat and seafood subscription brand, has been a benefactor of the "Buy Canadian" movement sweeping the country with strong revenue growth, profitability and key operating metrics in recent months. Our discounted golf experiences and products vertical is expected to continue to gain from the weakening macro climate given the recession-friendly nature of the business model. The addition of Tee 2 Green, starting Q2 2025, is expected to substantially enhance the Company's revenue, profitability and cash flow profile, and in the process, strengthen its balance sheet, and potentially improve its cost of capital over time. Top Priorities The Company's top priorities in the near-term are to i) accelerate revenue growth, ii) extract further operational efficiencies and synergies to drive profitability, and iii) opportunistically explore avenues to enhance cash flow and reduce interest expense. Conference Call Management will host a conference call on Monday, April 28 at 9:00 am ET to discuss its fourth quarter results. To access the conference call, please dial (416) 945-7677 or (888) 699-1199 and provide conference ID 24913. Alternatively, the conference call can be accessed online at: Selected Financial Highlights The tables below set out selected financial information and should be read in conjunction with the Company's consolidated financial statements and MD&A for the three and twelve months ended December 31, 2024, which are available on SEDAR. Three months ended December 31, Twelve months ended December 31, 2024 2023 2024 2023 $ $ $ $ Gross Merchandise Sales ("GMS") 1 9,642,910 8,534,032 33,135,742 30,913,531 Total revenue 5,625,520 5,139,828 20,424,686 19,583,258 Adjusted EBITDA 1 (10,763) (345,089) (463,828) (1,774,727) Net income (loss) from continuing operations 287,828 (10,651,704) (1,104,980) (15,582,180) Net income (loss) 287,828 (17,536,446) (505,740) (21,256,884) Basic and diluted (loss) per share – continuing operations 0.002 (0.098) (0.008) (0.143) Basic and diluted (loss) per share – discontinued operations - (0.063) 0.005 (0.052) 1 Non-GAAP Financial Measure. Refer to section "Non-GAAP Financial Measures" for additional information. Results from WholesalePet, WagJag and Battlbox have been reclassified to discontinued operations. The following table highlights Adjusted EBITDA and a reconciliation of the Company's reported results to its adjusted measures: Three months ended December 31, Twelve months ended December 31, 2024 2023 2024 2023 $ $ $ $ Net income (loss) 287,828 (17,536,446) (505,740) (21,256,884) Add back: Finance costs 273,857 733,405 1,340,229 3,511,751 Income taxes 636,235 169,228 317,272 (1,270,350) Amortization 54,310 393,850 222,309 2,459,965 EBITDA 1,252,230 (16,239,963) 1,374,070 (16,555,518) Share-based compensation 83,365 60,890 209,357 204,621 Transaction cost 17,445 30,461 119,076 298,005 Foreign exchange and other losses (gains) (30,590) 650,110 (233,968) 652,622 Impairment of goodwill - 8,268,671 - 8,268,671 Loss on debt modification 69,256 - 69,256 - Gain on re-measurement of contingent consideration - - (303,233) Severance and termination costs 153,647 - 153,647 - Other income (1,556,026) - (1,556,026) (14,599) Net loss (income) from discontinued operations - 6,884,742 (599,240) 5,674,704 Adjusted EBITDA (10,673) (345,089) (463,828) (1,774,727) The following table highlights GMS and a reconciliation of the Company's reported results to its adjusted measures: About EMERGE EMERGE is a premium, Canadian e-commerce brand portfolio. Our subscription, marketplace, and retail businesses provide our members with access to offerings across our grocery and golf verticals. truLOCAL is our flagship Canadian meat and seafood subscription service, connecting local farmers with a health-conscious audience. Our golf vertical includes our discounted tee-times/ experiences brand, UnderPar, and our discounted golf apparel and equipment brands, JustGolfStuff and Tee 2 Green. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Non-GAAP Measures This press release makes reference to certain non-GAAP measures. These non-GAAP measures are not recognized measures under IFRS, 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 a further understanding of results of operations from management's perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of the financial information of the Company reported under IFRS. Gross Merchandise Sales ("GMS"), EBITDA, and Adjusted EBITDA should not be construed as alternatives to revenue or net income/loss determined in accordance with IFRS. GMS, EBITDA and Adjusted EBITDA do not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. GMS as defined by management is the total dollar value of customer purchases of goods and services, excluding applicable taxes and net of discounts and refunds. Management believes GMS provides a useful measure for the dollar volume of e-commerce transactions made through our platforms and an indicator for our business performance. Earnings before interest, taxes, depreciation and amortization ("EBITDA") and Adjusted EBITDA as defined by management means earnings before interest and financing costs, income taxes, depreciation and amortization, transaction costs, foreign exchange gains/losses, discontinued operations, unrealized gains/losses on contingent consideration and share-based compensation. Management believes that Adjusted EBITDA is a useful measure because it provides information about the operating and financial performance of EMERGE and its ability to generate ongoing operating cash flow to fund future working capital needs and fund future capital expenditures or acquisitions. A reconciliation of the adjusted measures is included in the Company's management discussion & analysis for the twelve months ended December 31, 2024 in the section "Non-GAAP Financial Measures" available through SEDAR at Notice regarding forward-looking statements This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including, without limitation, statements related to the closing of the Transaction and the timing thereof, the satisfaction of all conditions precedent to the closing of the Transaction, including, without limitation, TSXV approval in respect of the Transaction, any benefit that may be derived by the Company from the Transaction, including, without limitation, any material benefit to the working capital or financial position of the Company as a result of the Transaction, expectations regarding cash flow both as a result of the Transaction and in general, as well as other statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. There is no guarantee the Transaction will be completed as contemplated or at all, and the forward-looking information contained herein is based on the assumptions of management of the Company as of the date hereof including, without limitation, assumptions with respect to the financial position, cash flow, and working capital of the Company, the ability of the Company to obtain TSXV approval for the Transaction and the satisfaction of any other conditions thereto, and the conditions of the financial markets and the e-commerce markets generally, among others. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable). Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including risks related to the disposition of a operating business by the Company, risks that the benefits derived from the Transaction may not be as expected or that the Company may not see any benefit from the Transaction, risks that each party to the Agreement may not satisfy its obligations or covenants, risks that the Company may be subject to litigation as a result of the Transaction including allegations of misrepresentation or breach of conditions or covenants, risks that the TSXV may not approve the Transaction, as well as the risk factors discussed in the Company's MD&A, which is available through SEDAR+ at The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. On Behalf of the Board Ghassan Halazon Director, President, and CEO EMERGE Commerce Ltd. SOURCE Emerge Commerce Ltd.
Cision Canada
24-04-2025
- Business
- Cision Canada
Wishpond Reports Record Adjusted EBITDA in Fiscal 2024
Wishpond achieved record Adjusted EBITDA (1) of $1.7 million in fiscal 2024, an increase of 129% compared to fiscal 2023. The Company also achieved positive Adjusted EBITDA for the tenth quarter in a row. Wishpond achieved annual revenue of $21.6 million in fiscal 2024 and quarterly revenue of $4.7 million in Q4-2024. The Company expects to accelerate its revenue growth in 2025 primarily driven by the growth of its SalesCloser AI platform, a virtual AI sales agent that can conduct sales calls and demos in multiple languages with minimal human intervention. VANCOUVER, BC, April 24, 2025 /CNW/ - Wishpond Technologies Ltd. (TSXV: WISH) (OTCQX: WPNDF) (the " Company" or " Wishpond"), a provider of marketing-focused online business solutions, announces it has filed its audited annual consolidated financial statements (the " Annual Financial Statements") and management's discussion and analysis (the " MD&A") for fiscal year and fourth quarter ended December 31, 2024. Copies of the Annual Financial Statements and MD&A are available on the Company's profile on SEDAR+ at Ali Tajskandar, Wishpond's Founder and CEO commented, "2024 has been another remarkable year for Wishpond, highlighted by our tenth consecutive quarter of generating positive Adjusted EBITDA (1), as well as a 129% increase in annual Adjusted EBITDA (1) compared to fiscal 2023, reflecting our ability to deliver consistent profitability. We also achieved positive cash flow from operations of $519K, a significant improvement from the prior year, showcasing our commitment and the effectiveness of our cost optimization efforts. Furthermore, our annual revenue of $21.6 million reflects the continued demand for our software solutions and drives our ongoing efforts to build a fully autonomous, AI-enabled marketing and sales platform designed to streamline the entire customer journey." Ali Tajskandar further adds," As we enter 2025, we are excited about the prospects of SalesCloser AI (" SalesCloser"), which we believe will be a key driver of growth moving forward. SalesCloser has quickly become Wishpond's fastest-growing product ever, now generating approximately $800K in Annual Recurring Revenue (" ARR") (1), with a significant portion of this growth having occurred in the first few months of 2025. To continue accelerating its adoption, we have been actively exploring new sales outreach initiatives and strategic channel partnerships. For example, we've seen great success with our recently launched SalesCloser white-label reseller program (the " White-Label Reseller Program"), which enables agencies and businesses to brand and resell SalesCloser as their own, driving new revenue streams and expanding our general market reach. Overall, with an expanding sales pipeline and an increasing demand for our AI solutions, we consider that the Company is well-positioned to capitalize on new opportunities and will continue to solidify SalesCloser as a key driver of growth in 2025." Adrian Lim, Wishpond's CFO, commented, "2024 has been a profitable year for Wishpond with strong growth in annual Adjusted EBITDA (1) and cash flow from operations. While revenue in 2024 was impacted by a decrease in spending from our large legacy customer for email delivery services, the resulting shift in focus allowed the Company to achieve higher gross margins and improved profitability during the year. Moreover, we expect the transition of our sales team, cost optimization efforts, and the internal adoption of SalesCloser to impact our sales capacity in the first half of 2025, with increased sales and profitable growth expected to accelerate in the second half of 2025. Wishpond is a tariff-resistant business as we are a software vendor that has no physical goods crossing the border. Additionally, as the 'Buy Canadian' sentiment grows, we are seeing general trends in the Canadian market such as businesses showing increased interest in choosing Canadian software vendors like us, and a general increase in marketing campaigns launched to target Canadian audiences." Fiscal 2024 Annual Financial Highlights: Wishpond achieved annual revenue of $21,620,106 during fiscal 2024 (2023: $23,088,138). Revenue was impacted by a decline in revenue from the Company's legacy customer of email delivery services which reduced its spending from $1,537,380 in 2023 to $501,253 in 2024. Wishpond achieved a gross profit of $14,768,767 in fiscal 2024 (2023: $15,190,124). Wishpond achieved a gross margin percentage of 68% during fiscal 2024 (2023: 66%). During fiscal 2024, Wishpond achieved record Adjusted EBITDA (1) of $1,734,412 (2023: $758,807), an increase of 129% compared to 2023. During fiscal 2024, Wishpond achieved record annual Adjusted EBITDA (1) margin of 8% (2023: 3%), an increase of 144% compared to 2023. Fourth Quarter 2024 Financial Highlights: Wishpond achieved quarterly revenue of $4,685,396 during Q4-2024 (Q4-2023: $6,061,057). Revenue was impacted by a decline in revenue from the Company's legacy customer of email delivery services which reduced its spending from $254,146 in Q4-2023 to $25,447 in Q4-2024. Wishpond achieved a gross profit of $3,206,990 in Q4-2024 (Q4-2023: $3,994,574). Wishpond achieved a gross margin percentage of 68% during Q4-2024 (Q4-2023: 66%). During Q4-2024, Wishpond achieved positive Adjusted EBITDA (1) of $331,270 (Q4-2023: $14,807), representing an increase of 2,137% from Q4-2023 and an Adjusted EBITDA (1) margin of 7%. As at December 31, 2024, Wishpond had $1,126,318 in cash and had drawn down $1,295,990 from its credit facility (December 31, 2023: cash of $1,424,585 and $994,658 credit facility balance outstanding). The reduction in cash balances was caused in part by investment in R&D, investment in SalesCloser marketing activities, and changes in working capital. Fourth Quarter 2024 Business Highlights: On October 23, 2024, the Company entered into a collaboration agreement with Roomvu, a leading real estate marketing platform used by over 220,000 real estate agents, to utilize SalesCloser to enhance lead follow-up and sales conversion for Roomvu. This collaboration is anticipated to empower real estate agents to significantly improve the efficiency of managing leads, with aims to ultimately drive sales higher at the same time as improving the client experience. On November 28, 2024, the Company provided a corporate update on its Viral Loops Platform. The Viral Loops Platform reached a major milestone in 2024, engaging over 3 million participants this year and surpassing 1 million referrals year to date, solidifying its position as a leader in the referral marketing industry. Wishpond also announced that Viral Loops has seen significant growth with over 40% increase in Customer Lifetime Value (" LTV") (1) and over 25% increase in average revenue per user (" ARPU") (1) year over year. Business Highlights Subsequent to December 31, 2024: On January 9, 2025, the Company announced that it filed a non-provisional utility patent application, entitled "Enhanced State Manager in a Virtual AI Representative", for the enhanced state manager technology within its SalesCloser virtual AI agents. This technology is expected to improve the ability of AI systems to manage complex, real-world conversations, addressing challenges such as interruptions, tangential topics, and premature conversation endings. This is Wishpond's second patent application related to SalesCloser's virtual AI agents. On February 6, 2025, the Company announced that it filed a non-provisional utility patent application, entitled "Human Takeover in a Virtual AI Representative", for its human takeover technology which allows human operators to seamlessly assume control of a call from an automated AI call agent when necessary. This innovation bridges the gap between AI-driven interactions and human oversight, ensuring smooth and contextually rich customer experiences. On February 6, 2025, the Company announced that the ongoing uncertainty surrounding the U.S.-Canada trade relations are expected to have no material impact on the Company's business. On February 25, 2025, the Company announced the launch of its SalesCloser AI White-Label Reseller Program (the "White-Label Reseller Program"), allowing agencies and businesses to brand and resell the Company's AI-powered sales solution as their own. Under the White-Label Reseller Program, companies are expected to be able to enhance their brand identity, expand sales service offerings, and increase customer loyalty using Wishpond's advanced SalesCloser technology. The White-Label Reseller Program is expected to drive new revenue streams for Wishpond by expanding the market reach of SalesCloser and accelerating its adoption. On March 27, 2025, the Company announced a collaboration agreement with Venops Inc. (" Venops"), a leader in healthcare regulatory compliance and consulting services, to market and sell Wishpond's AI-powered SalesCloser platform. With a network of over 1,000 medical clinics, Venops brings extensive professional and industry reach, combining its deep expertise in healthcare compliance with Wishpond's innovative AI technology. This collaboration aims to revolutionize how businesses in the medical sector engage with prospects and drive sales. Outlook: For 2025, Wishpond's focus is on profitable growth driven by an increase in the growth of its SalesCloser platform, a virtual AI sales agent that can conduct sales calls and demos in multiple languages with minimal human intervention. The Company is also expanding the utilization of its SalesCloser solution in its internal sales processes in order to grow internal sales capacity, drive new sales of Wishpond products and further increase margins and profitability. In addition to using SalesCloser to sell Wispond's own products, the Company also expects revenue generated from external SalesCloser customers to increase in 2025. Management is pleased to introduce the Company's key goals for 2025: Accelerate organic revenue growth and increase Monthly Recurring Revenue (" MRR") (1). Increase utilization of SalesCloser in internal sales processes to drive sales of Wishpond's own products. Accelerate revenue growth of SalesCloser to external customers. Improve margins, decrease churn and increase long-term customer value. Webinar Conference Call Details: As previously announced, Wishpond will be hosting a webinar conference call to discuss its year-end financial results today at 10:00 AM (PT) / 1:00 PM (ET). To register for the webinar, please visit the following URL: Please connect 5 minutes prior to the conference call to ensure time for any software download that may be required. Selected Financial Highlights: The tables below set out selected financial information relating to Wishpond and should be read in conjunction with the Annual Financial Statements and the MD&A. Reconciliation to Adjusted EBITDA (1) Footnotes: (1) Adjusted EBITDA, Adjusted EBITDA margin, ARR, Customer Lifetime Value, MRR, ARPU and LTV are not financial measures recognized by International Financial Reporting Standards (" IFRS"), do not have any standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other entities. See " Cautionary Statements – Non-GAAP Financial Measures" for more information and definitions of each non-GAAP term used in this press release. On Behalf of the Board of Wishpond " Ali Tajskandar" Chairman and Chief Executive Officer About Wishpond Technologies Ltd. Wishpond is a Vancouver-based provider of AI-enabled marketing and sales solutions that help businesses grow more efficiently. The Company's vision is to create a fully autonomous AI-enabled platform that streamlines the entire customer acquisition journey, from lead generation and engagement to deal closure, enabling businesses to scale cost-effectively while driving higher conversions. Wishpond offers an all-in-one marketing suite that integrates AI-driven tools such as an AI Website Builder, AI Email Automation, and SalesCloser AI, a conversational AI-based virtual sales agent that leverages generative AI to conduct personalized sales calls and product demos, increasing efficiency, reducing costs, and enhancing customer satisfaction. With a focus on innovation, Wishpond has filed multiple patent applications in conversational AI, reinforcing its leadership in AI-enabled marketing automation. The Company serves small-to-medium-sized businesses across various industries, providing a powerful yet cost-effective alternative to fragmented marketing solutions. Wishpond employs a Software-as-a-Service (SaaS) business model, generating most of its revenue from subscription-based recurring revenue, which ensures strong revenue predictability and cash flow visibility while continuously expanding its AI capabilities. Wishpond is listed on the TSX Venture Exchange under the ticker "WISH", and on the OTCQX Best Market under the ticker "WPNDF". For further information, visit: Cautionary Statements, Summary Information Information presented in this press release may be only a summary of all available information and does not purport to be a full representation of all figures, notes and discussions provided for in the Annual Financial Statements and the MD&A. Readers are cautioned to read the entirety of the Annual Financial Statements and the MD&A, and to not rely only on the information presented in this press release. In the event of conflict between the provisions of this press release on the one hand, and the Annual Financial Statements and the MD&A on the other hand, the information in the Annual Financial Statements and the MD&A shall govern. Non-GAAP Financial Measures In this press release, Wishpond has used the following terms (" Non-GAAP Financial Measures") that are not defined by IFRS, but are used by management to evaluate the performance of Wishpond and its business, including: Adjusted EBITDA, ARR, Customer Lifetime Value, ARPU, and LTV. These measures may also be used by investors, financial institutions and credit rating agencies to assess Wishpond's performance and ability to service debt. Non-GAAP Financial Measures do not have standardized meanings prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Securities regulations require that Non-GAAP Financial Measures are clearly defined, qualified and reconciled to their most comparable IFRS financial measures. Except as otherwise indicated, these Non-GAAP Financial Measures are calculated and disclosed on a consistent basis from period to period. Specific items may only be relevant in certain periods. See the disclosure under the heading "Additional GAAP and Non-GAAP Measures" in the MD&A for a discussion of Non-GAAP Financial Measures and certain reconciliations to GAAP financial measures. The intent of Non-GAAP Financial Measures is to provide additional useful information to investors and analysts, and the measures do not have any standardized meaning under IFRS. The measures should not, therefore, be considered in isolation or used as a substitute for measures of performance prepared in accordance with IFRS. Other issuers may calculate Non-GAAP Financial Measures differently. Non-GAAP Financial Measures are identified and defined as follows: Adjusted EBITDA: Adjusted EBITDA should not be construed as an alternative to net earnings, cash flow from operating activities or other measures of financial results determined in accordance with Generally Accepted Accounting Principles as an indicator of the Company's performance. The Company defines " Adjusted EBITDA" as Income or Loss before income taxes less interest, depreciation and amortization, remeasurement of contingent consideration liability, filing fees, credit facility setup and renewal fees, earn-out remuneration, foreign currency losses (gains), acquisition related expenses, net other expenditures (income), and stock-based compensation. The Company believes that Adjusted EBITDA is a meaningful financial metric as it measures cash generated from operations which the Company can use to fund working capital requirements, service future interest and principal debt repayments and fund future growth initiatives. Annual Recurring Revenue: The Company uses Annual Recurring Revenue, or ARR, as a directional indicator of subscription revenue going forward assuming customers maintain their subscription plan for a period of 12 months. ARR is calculated by multiplying total MRR by 12. Average Order Value: The Company defines Average Order Value, or AOV, as the aggregate dollar amount of all customer orders over a period of time divided by the aggregate number of orders during that same period. Management believes AOV to be a useful financial measure because it helps to track the impact of sales initiatives and product offerings on customer spending patterns Average Revenue Per User: The Company defines Average Revenue Per User, or ARPU, as the total MRR divided by the number of subscribers. Management believes ARPU is a valuable financial metric as it provides insight into the effectiveness of the Company's monetization strategy and customer value generation. ARPA also helps track the impact of sales initiatives and product offerings on customer spending patterns. Customer Lifetime Value: The Company defines Customer Lifetime Value, or LTV, as the average revenue that a customer generates before they churn. Management believes LTV is useful as a forward-looking estimate of the average revenue that a customer will generate throughout its lifespan as a customer with Wishpond. Monthly Recurring Revenue: The Company uses Monthly Recurring Revenue, or MRR, as a directional indicator of subscription revenue going forward assuming customers maintain their subscription plan the following month. MRR is the total of all monthly subscription plan fees paid by customers in effect on the last day of that period. If customers pay for more than one month upfront, the amount is divided by the number of months in the subscription period. Discounts are deducted prior to the calculation and one-time payments and metered based charges are excluded. Forward-Looking Statements Statements that are not reported financial results or other historical information are forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, " forward-looking statements"). This press release includes forward-looking statements regarding the Company, its subsidiaries and the industries in which they operate, including statements about, among other things, all information contained under the heading "Outlook" herein, references to expected results from future operations, future growth of the Company's products and platforms, the future development and increased use of products incorporating artificial intelligence, including SalesCloser, improvement in the Company's cash position and increased revenue generation, references to the growth of the Company's product portfolio and future profitability, including whether additional products or features may be developed in the future, and the functionality and timing of such products, financial results or operational activities that may be undertaken by the Company, the results of the Company's cost-savings, research and development and other initiatives, any future acquisitions or other activities done to grow the Company both organically or inorganically, expectations, beliefs, plans, future operations, the impact of broader economic factors including inflation and other general economic risks on the Company, business and acquisition strategies, opportunities, objectives, prospects, assumptions, including those related to trends and prospects, and future events and performance. Sentences and phrases containing or modified by words such as "expect", "anticipate", "plan", "continue", "estimate", "intend", "expect", "may", "will", "project", "predict", "potential", "targets", "projects", "is designed to", "strategy", "should", "believe", "contemplate" and similar expressions, and the negative of such expressions, are not historical facts and are intended to identify forward-looking statements. Readers are cautioned to not place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by forward-looking statements. Although the Company believes that the expectations reflected in forward-looking statements in this press release are reasonable and are based on, among other things, the expectations and analysis of current market trends and opportunities of management of the Company, such forward-looking statements have been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including, but not limited to, risks associated with changes to Propel IQ, SalesCloser and other product revenue and profitability, changes to customer preferences, competition, use cases for SalesCloser and other products, economic uncertainty and instability as a result of the ongoing inflation and supply chain issues, higher interest rate climate, tightening of credit availability and recessionary risks, pandemic related risks, wars, instability in global commodity and securities markets, shifts in consumer and institutional spending and marketing strategies, risks related to data breaches and privacy, the changing global market and competition for the products and services supplied by the Company, and the additional risk factors discussed in the continuous disclosure materials of the Company which are available under the Company's profile on SEDAR+ at The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE Wishpond Technologies Ltd.
IOL News
23-04-2025
- Business
- IOL News
Legal expert suggests MTN financial statements misrepresent risk of US terrorism cases
In Washington, there is already some opposition to the appointment of MTN board chairman Mcebisi Jonas as the South African Special Envoy to the United States. Any new concerns are likely to amplify that opposition. Image: File By Michael Walsh There are concerns that MTN Group may have misled its shareholders about the nature of ongoing terrorism litigation in the United States in the recently published Annual Financial Statements for the year ended 31 December 2024. The Annual Financial Statements names five active legal cases related to the Anti-Terrorism Act (ATA) against MTN Group in US courts, and its Director's Report declares that each of those cases has 'been assessed as remote and therefore no contingent liabilities have been disclosed.' The Annual Financial Statements were authorized by the MTN Board of Directors on 17 March 2025. The Chairman of the MTN Board is Mcebisi Jonas, the newly appointed South African Special Envoy to the United States. Professor Jeffrey Breinholt of George Washington University helps to shed light on why the Director's Note could pose problems for MTN Group and, by extension, the Government of South Africa. Breinholt is a former US government official who spent over two decades working on counterterrorism and national security law in the US Department of Justice. He is also the editor of 'Pursuing terrorists in US civil courts: the Encyclopedia of ATA cases.' According to Breinholt, the biggest challenge facing plaintiffs seeking to bring ATA cases against multinational corporations is to 'get over the motion to dismiss' the case as 'frivolous.' Breinholt points out that the plaintiffs have already gotten over that motion to dismiss MTN Group in the case of Zobay, et al. v. MTN Group Limited, et al. Since MTN Group did not win that legal argument, Breinholt says that it is not only 'disingenuous' for the Director's Report to 'claim that the risk is so remote that they don't have to report contingent liabilities.' He says that 'any claim that these cases are remote is probably wrong.' Breinholt advises that the Annual Financial Statements therefore carry serious implications for MTN Group and its shareholders. 'The implication is (that MTN Group committed) securities fraud - that they are lying on their financials,' says Breinholt, 'and that would affect their shaheloder value' as it would 'overvalue the company.' So, 'the shareholders would be aggrieved.' Since the Director's Report has 'opened [MTN Group] up to fraud allegations,' Breinholt stresses 'you would think that the law firm representing them' in the ongoing terrorism litigation in the United States 'would have reviewed' the Annual Financial Statements before they were authorized by the Board of Directors. One of those law firms is Covington & Burling LLP. The law firm has long had a connection with MTN Group. Eric Holder is one of its senior counsels. He served as the Attorney General of the United States under the Obama Administration. An Africa Intelligence report once referred to Holder as 'MTN's favorite lawyer.' The law firm also has a problematic relationship with the Trump Administration. On 25 February 2025, President Donald Trump issued a directive that explicitly targeted Covington & Burling LLP in response to the assistance that the law firm provided to former Special Counsel Jack Smith, who oversaw the criminal investigation into the efforts to overturn the 2020 US Presidential Election. In Washington, there is already some opposition to the appointment of Jonas as the South African Special Envoy to the United States. Any new concerns are likely to amplify that opposition. Prior to filing this report, Covington & Burling LLP. was asked for comment on whether their firm reviewed the Director's Report prior to its publication. No response was received. Similarly, MTN Group was asked for comment. The MTN Group Press Office responded, 'As the legal matter you referenced is ongoing, MTN Group will not be participating in interviews at this time.' Michael Walsh is a freelance senior foreign correspondent who is a past recipient of the Vivian Award of the National Press Club. Image: LinkedIn
