Latest news with #EarnedWageAccess
Borneo Post
5 days ago
- Business
- Borneo Post
Shoraka Kenyalang, Kopela launch ‘Bayar Jak' to boost financial inclusion in Sarawak
Handout photo shows the representatives of SKSB and Kopela at the signing ceremony held in Bintulu. KUCHING (May 31): Shoraka Kenyalang Sdn Bhd (SKSB) has collaborated with Koperasi Pelabuhan Bintulu Berhad (Kopela) in launching 'Bayar Jak', an all-in-one Islamic fintech liquidity platform. This strategic partnership marks the rollout of Earned Wage Access (EWA) services to Kopela cooperative members, empowering employees with real-time access to a portion of their earned wages, any time before payday. 'Designed to promote financial inclusion and reduce dependence on high-interest loans or unregulated lenders, Bayar Jak integrates seamlessly with employer payroll systems. 'Through its secure digital platform, employees can view and withdraw accrued earnings as needed, offering greater cash flow flexibility, particularly in times of financial need,' said SKSB in a statement. It added that Bayar Jak would continue to expand its suite of syariah-compliant digital financial services. 'Planned offerings include digital invoice financing solutions for small and medium enterprises (SMEs) and tailored private credit facilities for civil servants, supporting the broader objectives of the Sarawak Digital Economy Blueprint 2030.' Bayar Jak, a strategic partnership between SKSB, a subsidiary of Shoraka Group and Kopela, the cooperative arm of Bintulu Port Holdings Berhad (BPHB), reflects a mutual commitment to advancing financial wellness and inclusion across Sarawak. Bayar Jak is operated by SKSB, a member of the Sarawak Chamber of Commerce and Industry (SCCI). It is aimed at empowering Sarawakians, local businesses and SMEs through syariah-compliant, accessible financial solutions that support economic resilience. As a cooperative associated with Bintulu Port in Sarawak, Kopela focuses on member welfare, economic participation and community development. Most of its members are employees of BPHB. Bayar Jak's EWA service also supports Sarawak's broader agenda to promote financial inclusion and well-being, offering a safer, more sustainable alternative to predatory lending practices. For more information about Bayar Jak, go to Bayar Jak Islamic fintech liquidity platform Kopela Shoraka Kenyalang
Yahoo
5 days ago
- Business
- Yahoo
XTM Files Q1 2025 Interim Financial Results
Revenue Up 51% Over Prior Year Quarter, Net Comprehensive Loss Decreases 40% Over Prior Year Quarter TORONTO, May 30, 2025--(BUSINESS WIRE)--XTM Inc. ("XTM" or the "Company") (QB: XTMIF / CSE: PAID / FSE: 7XT), a fintech innovator in automated tip calculations, instant payouts for employees and gig workers and a provider of Earned Wage Access ("EWA") through its AnyDay™ platform, today announced it has filed its interim financial statements and management's discussion and analysis (MD&A) for the quarter ended March 31, 2025 (the "Required Filings"). As part of XTM's continued strategic realignment and focus on profitability, the Company's previously announced transaction regarding its processing operations with Pateno Payments Inc. (a subsidiary of Digital Commerce Group) is progressing with only final US Banking operation approvals necessary to close. The transaction agreement deadline, originally set to close on May 30, 2025, is being extended to meet the various US Bank's departmental schedules. The partnership and ongoing support of Digital Commerce Bank positions XTM to rapidly scale its SaaS business with robust financial and infrastructure backing. Q1 2025 Financial and Operational Highlights Revenue Growth: Revenue was $2.7 million for the quarter, increasing 51% from the prior year quarter revenue of $1.8 million. Revenue Source: Less than 40% of the company's revenue in Q1 was derived from Interchange as part of the company's strategic goal to diversify revenue sources, now with the inclusion of Software as a Service (SaaS) revenue Net Loss & Comprehensive Loss: The Company reduced its net loss and comprehensive loss to $3.2 million in Q1 2025 compared to $5.3M in Q1 2024, a decrease of 40%. CAD $13M Credit Facility: On January 1, 2025, XTM signed a CAD $13 million Letter of Credit with Pateno Payments to support growth and cash neutrality, ahead of a planned financing and uplisting to a senior exchange in the second half 2025. Restricted Cash: The decrease in restricted cash of $14.2M includes $2.5M related to the migration of XTM funded EWA programs to client funded programs at QRails and an additional $9.6 million of deposits transferred to KOHO financial, which are expected to be returned by Q3 2025 Subsequent Events – Q1 2025 Sales Team Expansion & Early Wins:XTM is pleased to announce the expansion of its sales team, welcoming a new representative who successfully closed two new deals within their first two weeks at the Company. Consistent with XTM's hiring strategy, the new team member brings direct industry experience, having been an active AnyDay user within the hospitality sector—providing firsthand insight into the platform's value and driving authentic client engagement. Strong Year-to-Date Growth:As of the latest reporting period, XTM has signed 149 new client locations ("doors") for its Anyday wage and gratutity access solution, reflecting accelerating adoption and strong market demand. Filing Details The audited consolidated financial statements and MD&A for the year ended December 31, 2024, are available on the Company's profile at About XTM Inc. XTM Inc. is a global fintech innovator with offices in Miami, Toronto, Denver, and London. Through its AnyDay™ platform and its fully owned subsidiary, QRails, XTM delivers instant pay and Earned Wage Access solutions to the hospitality, personal care, and staffing sectors. XTM supports some of North America's leading brands including Earls, Marriott Hotels, Maple Leaf Sports & Entertainment, Cactus Club, and Live Nation. QRails is a cloud-based, API-driven issuer-processor enabling payroll providers, financial institutions, and fintechs to deliver modern digital payment solutions. QRails is SAP-certified and PCI DSS and SOC compliant. Learn more at and Forward-Looking Statements This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities laws. These statements involve known and unknown risks, uncertainties, and assumptions, and may include words such as "expects," "intends," "anticipates," "plans," "believes," and similar expressions. Actual results could differ materially from those projected due to various risks and factors beyond the Company's control. The CSE has neither approved nor disapproved the contents of this press release and accepts no responsibility for its adequacy or accuracy. View source version on Contacts Investor Contact:Jakob Ripshtein Email: finance@ Phone: 416-260-1641 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
5 days ago
- Business
- Business Wire
XTM Files Q1 2025 Interim Financial Results
TORONTO--(BUSINESS WIRE)--XTM Inc. ('XTM' or the 'Company') (QB: XTMIF / CSE: PAID / FSE: 7XT), a fintech innovator in automated tip calculations, instant payouts for employees and gig workers and a provider of Earned Wage Access ('EWA') through its AnyDay™ platform, today announced it has filed its interim financial statements and management's discussion and analysis (MD&A) for the quarter ended March 31, 2025 (the 'Required Filings'). As part of XTM's continued strategic realignment and focus on profitability, the Company's previously announced transaction regarding its processing operations with Pateno Payments Inc. (a subsidiary of Digital Commerce Group) is progressing with only final US Banking operation approvals necessary to close. The transaction agreement deadline, originally set to close on May 30, 2025, is being extended to meet the various US Bank's departmental schedules. The partnership and ongoing support of Digital Commerce Bank positions XTM to rapidly scale its SaaS business with robust financial and infrastructure backing. Q1 2025 Financial and Operational Highlights Revenue Growth: Revenue was $2.7 million for the quarter, increasing 51% from the prior year quarter revenue of $1.8 million. Revenue Source: Less than 40% of the company's revenue in Q1 was derived from Interchange as part of the company's strategic goal to diversify revenue sources, now with the inclusion of Software as a Service (SaaS) revenue Net Loss & Comprehensive Loss: The Company reduced its net loss and comprehensive loss to $3.2 million in Q1 2025 compared to $5.3M in Q1 2024, a decrease of 40%. CAD $13M Credit Facility: On January 1, 2025, XTM signed a CAD $13 million Letter of Credit with Pateno Payments to support growth and cash neutrality, ahead of a planned financing and uplisting to a senior exchange in the second half 2025. Restricted Cash: The decrease in restricted cash of $14.2M includes $2.5M related to the migration of XTM funded EWA programs to client funded programs at QRails and an additional $9.6 million of deposits transferred to KOHO financial, which are expected to be returned by Q3 2025 Subsequent Events – Q1 2025 Sales Team Expansion & Early Wins: XTM is pleased to announce the expansion of its sales team, welcoming a new representative who successfully closed two new deals within their first two weeks at the Company. Consistent with XTM's hiring strategy, the new team member brings direct industry experience, having been an active AnyDay user within the hospitality sector—providing firsthand insight into the platform's value and driving authentic client engagement. Strong Year-to-Date Growth: As of the latest reporting period, XTM has signed 149 new client locations ('doors') for its Anyday wage and gratutity access solution, reflecting accelerating adoption and strong market demand. Filing Details The audited consolidated financial statements and MD&A for the year ended December 31, 2024, are available on the Company's profile at About XTM Inc. XTM Inc. is a global fintech innovator with offices in Miami, Toronto, Denver, and London. Through its AnyDay™ platform and its fully owned subsidiary, QRails, XTM delivers instant pay and Earned Wage Access solutions to the hospitality, personal care, and staffing sectors. XTM supports some of North America's leading brands including Earls, Marriott Hotels, Maple Leaf Sports & Entertainment, Cactus Club, and Live Nation. QRails is a cloud-based, API-driven issuer-processor enabling payroll providers, financial institutions, and fintechs to deliver modern digital payment solutions. QRails is SAP-certified and PCI DSS and SOC compliant. Learn more at and Forward-Looking Statements This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities laws. These statements involve known and unknown risks, uncertainties, and assumptions, and may include words such as "expects," "intends," "anticipates," "plans," "believes," and similar expressions. Actual results could differ materially from those projected due to various risks and factors beyond the Company's control. The CSE has neither approved nor disapproved the contents of this press release and accepts no responsibility for its adequacy or accuracy.
The Print
26-05-2025
- Business
- The Print
Emerald Finance Reports 246% YoY Surge in Q4 FY25 Net Profit
Mumbai (Maharashtra) [India], May 24: Emerald Finance Limited (BSE: EMERALD), is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, announced its Audited Financial Results for Q4 FY25 and FY25. Q4 FY25 Standalone Financial Highlights – Total Income of Rs 4.60 Cr, YoY growth of 127.45% – EBITDA of Rs 3.60 Cr, YoY growth of 195.44% – Net Profit of Rs 2.16 Cr, YoY growth of 246.21% – Net Profit Margin (%) of 47.03%, YoY growth of 1,613 Bps – EPS of Rs 0.63, YoY growth of 202.42% FY25 Standalone Financial Highlights – Total Income of Rs 13.47 Cr, YoY growth of 81.44% – EBITDA of Rs 10.82 Cr, YoY growth of 113.08% – Net Profit of Rs 6.44 Cr, YoY growth of 114.36% – Net Profit Margin (%) of 47.83%, YoY growth of 735 Bps – EPS of Rs 1.87, YoY growth of 87.16% Q4 FY25 Consolidated Financial Highlights – Total Income of Rs 6.50 Cr, YoY growth of 66.44% – EBITDA of Rs 4.53 Cr, YoY growth of 117.02% – Net Profit of Rs 2.65 Cr, YoY growth of 132.99% – Net Profit Margin (%) of 40.80%, YoY growth of 1,165 Bps – EPS of Rs 0.77, YoY growth of 103.45% FY25 Consolidated Financial Highlights – Total Income of Rs 21.63 Cr, YoY growth of 61.94% – EBITDA of Rs 15.07 Cr, YoY growth of 114.56% – Net Profit of Rs 8.89 Cr, YoY growth of 114.83% – Net Profit Margin (%) of 41.09%, YoY growth of 1,012 Bps – EPS of Rs 2.57, YoY growth of 87.40% Comment on Financial Performance Mr. Sanjay Aggarwal, Managing Director of Emerald Finance Limited said, 'FY25 was a year of strong progress for Emerald Finance, marked by robust financial performance and strategic momentum. The year concluded with a solid Q4, as income grew across interest and fee-based streams, and margins improved on the back of operational efficiency and disciplined cost control. We maintained a Zero NPA throughout the year, underscoring the strength of our credit underwriting and risk management practices. Our EWA platform gained significant traction in Q4, with 62 corporate clients signed during the financial year and onboarded by year-end. This reinforces the increasing relevance of our salary advance solution in today's dynamic workforce environment. We are well-positioned amid India's fintech transformation, driven by rising credit demand, financial inclusion, and digital adoption. Our strategy focuses on retail and MSME lending, digital innovation, and strong partnerships. We aim to scale our EWA platform, expand SME and invoice discounting services, and grow across 200+ cities, targeting 250 corporate partners by March 2026 with our digital-first approach. Backed by experienced leadership and investors, we remain committed to delivering scalable, inclusive financial solutions that meet India's evolving needs.' Q4 FY25 Key Business Highlights of Emerald Finance Limited Fund Raise – Allotted 24 secured, unlisted, unrated, redeemable non-convertible debentures at Rs5,00,000 each, aggregating to Rs1.20 Cr, on a private placement basis. – Allotted 7,65,090 equity shares at Rs131 each (face value Rs10, premium Rs121), increasing fully paid-up equity share capital from Rs33.78 Cr to Rs34.54 Cr. Investors include promoters, Saint Capital Fund (Mauritius), Mr. Rajesh Jain (Founding Partner, KPMG in India & Africa), and Mr. Vishnu Sultania (Advisor to the UN, among India's top 100 CFOs), reinforcing confidence in the company's growth and digital lending strategy. Added New Clients for Early-Wage Access program – Onboarded 20 corporates in Q4 FY25 for Early Wage Access, a salary advance solution that enables employees to access a portion of their earned salary throughout the month, with recovery via salary deduction. (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same) This story is auto-generated from a syndicated feed. ThePrint holds no responsibility for its content.
Yahoo
26-05-2025
- Business
- Yahoo
Emerald Finance Ltd (BOM:538882) Q4 2025 Earnings Call Highlights: Record Profit Surge and ...
Release Date: May 23, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Emerald Finance Ltd (BOM:538882) reported a significant increase in net profit, jumping by 132% for the quarter and 140% for the full year. The company successfully maintained a zero NPA (Non-Performing Assets) status, highlighting strong credit management. Emerald Finance Ltd's EWA (Earned Wage Access) product is gaining traction, with plans to expand partnerships from 60 to 150. The company has formed strategic partnerships, including one with Petty Limited Singapore for invoice discounting, enhancing its service offerings. Emerald Finance Ltd is well-positioned in the growing digital lending market, which is expected to account for 60% of the Indian fintech market by 2030. The company's ROE (Return on Equity) is relatively low at 10.8%, indicating room for improvement in profitability. Emerald Finance Ltd's leverage ratio is low, which may limit its ability to scale operations quickly. The EWA product, while gaining traction, involves small ticket sizes, requiring high volume to significantly impact revenue. There is a challenge in penetrating large MNCs due to bureaucratic hurdles, limiting potential growth in that segment. The company faces competition from other fintechs and banks, which could impact its market share and growth prospects. Warning! GuruFocus has detected 2 Warning Signs with BOM:538882. Q: What is the current strength of your IT team, and how is your technology platform developed? A: Our IT team currently consists of five people, and the entire technology platform has been developed in-house. We emphasize data security, privacy, and business continuity, ensuring that we can resume operations within 12 hours in case of any disruptions. (Respondent: Unidentified_7) Q: How does Emerald Finance classify NPAs in the Earned Wage Access (EWA) program? A: NPAs are classified against the employees, as the EWA is technically a personal loan taken by employees. The loan duration is typically 30 days, and any loan taken is deducted from the next payroll. (Respondent: Unidentified_7) Q: What differentiates Emerald Finance from its competitors in terms of technology and services? A: We own the entire supply chain from distribution to lending, unlike competitors who rely on third-party fintech models. We offer a comprehensive financial solution through our subsidiary, catering to various loan needs of corporates and employees. (Respondent: Unidentified_7) Q: What is the strategy behind entering the invoice discounting vertical? A: We aim to create synergy by offering financing solutions to both employers and employees. Invoice discounting complements our EWA program, reducing acquisition costs and leveraging existing corporate relationships for cross-selling opportunities. (Respondent: Unidentified_7) Q: What are the growth targets for the EWA program and overall financial projections for the next fiscal year? A: We aim to onboard 250 corporate clients and achieve a disbursement target of 15 CR by the end of the next fiscal year. We expect to maintain a similar growth trajectory in top-line and bottom-line figures, focusing on customer acquisition and partnership expansion. (Respondent: Unidentified_3) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
