Latest news with #POS
National Post
14 hours ago
- Business
- National Post
POSaBIT Reports First Quarter 2025 Financial Results
Article content Article content TORONTO & SEATTLE — POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF) (the 'Company' or 'POSaBIT'), a leading provider of payments infrastructure in the cannabis industry, today announced its financial results for the three months ended March 31, 2025. Article content 'As highlighted during our recent annual earnings call, POSaBIT delivered another steady quarter, with consistent adjusted gross margin dollars and flat adjusted EBITDA as compared to the previous quarter — reinforcing the Company's long-term financial stability,' said Ryan Hamlin, co-founder and CEO of POSaBIT. 'We remain committed to operating efficiently while continuing to innovate, and we're seeing strong growth across our expanding product portfolio.' Article content Hamlin added, 'Our Point of Sale system continues to lead the industry, and Q1 marked our busiest quarter ever for POS sales and implementations. We also saw stronger-than-expected demand for our newer eCommerce and Menu products, with momentum expected to continue into Q2. While overall revenue was down slightly due to our ongoing payment processing migration, our adjusted gross profit margin of 65% was the highest in the company's 10-year history. We're encouraged by the progress we've made. We have executed our cost reduction plans, remain profitable and cash flow positive, and have a focused leadership team driving toward a bright future.' Article content The Point of Sale product continues to experience significant growth, particularly in Washington State, driven by its dependable recurring revenue model Adjusted Revenue, Adjusted Gross Profit, and Adjusted EBITDA remained steady quarter over quarter, with this consistency expected to continue through 2025 The Company finalized the settlement of its last outstanding legal matter, paving the way for reduced legal expenses for the remainder of 2025. The Company completed migration of several cost generating activities to our payments partner resulting in additional costs savings in 2025 and beyond Article content As of March 31, 2025, the Company had cash and cash equivalents of $736 thousand compared to $999 thousand as of December 31, 2024. This slight reduction in cash is due to paying off existing legal settlement obligations as well as annual non-executive level salary adjustments. Article content The following table reconciles Revenue, as reported to Adjusted Revenue for March 31, 2025 vs. March 31, 2024 as reported. Article content in US Dollars March 31, 2025 March 31, 2024 Revenue as reported $ 2,842,703 $ 3,704,713 Add: Cash receipts from licensing contracts $ 1,350,000 $ 1,162,500 Deduct: Licensing support revenue $ (386,250 ) $ (386,250 ) Adjusted Revenue $ 3,806,453 $ 4,480,963 Article content The following table reconciles Gross Margin, as reported to Adjusted Gross Profit for March 31, 2025 vs. March 31, 2024 as reported. Article content i n US Dollars March 31, 2025 March 31, 2024 Gross Margin as reported $ 1,515,553 $ 1,489,804 Add: Cash Receipts from Licensing contracts $ 1,350,000 $ 1,162,500 Deduct: Licensing Support Revenue as reported $ (386,250 ) $ (386,250 ) Adjusted Gross Profit $ 2,479,303 $ 2,266,054 Adjusted Gross Profit Margin 65 % 51 % Article content The following table reconciles Loss, as reported to Adjusted EBITDA for March 31, 2025 vs. March 31, 2024 as reported. Article content in US Dollars March 31, 2025 March 31, 2024 EBITDA $ (833,301 ) $ (1,207,238 ) Deduct: Licensing support revenue, as reported $ (386,250 ) $ (386,250 ) Deduct: Licensing revenue interest income, as reported $ (174,416 ) $ (249,272 ) Add: Cash receipts from licensing agreement, as reported $ 1,350,000 $ 1,162,500 Adjusted EBITDA $ (43,967 ) $ (680,260 ) Article content Conference Call Information Date: May 30, 2025 Time: 4:30 PM Eastern Time Toll Free: 888-506-0062 International: 973-528-0011 Participant Access Code: 181006 Webcast URL: Article content Conference Call Replay Information: The replay will be available approximately 1 hour after the completion of the live event. Article content Financial Reports Article content Full details of the financial and operating results are described in the Company's consolidated financial statements for the three months ended March 31, 2025 with accompanying notes. The consolidated financial statements and additional information about POSaBIT are available on the Company's website at or on SEDAR+ at Article content Adjusted Revenue, Adjusted Gross Profit (and Adjusted Gross Profit Margin) and Adjusted EBITDA are non-IFRS measures used by management that do not have any prescribed meaning by IFRS and may not be comparable to similar measures presented by other companies. The Company defines Adjusted Revenue as gross revenue, minus license support revenue, plus actual licensing cash received as part of POSaBIT's licensing deals. The Company defines Adjusted Gross Profit as Adjusted Revenue less company cost of goods sold, and Adjusted Gross Profit Margin as a percentage of Adjusted Gross Profit as compared to Adjusted Revenue. The Company defines Adjusted EBITDA as net income or loss generated for the period as reported, before interest, taxes, depreciation and amortization and further adjusted in accordance with the reconciliation table set out in this press release. The Company believes these non-IFRS measures are useful metrics to evaluate its core operating performance and uses these measures to provide shareholders and others with supplemental measures of its operating performance. The Company also believes that securities analysts, investors and other interested parties, frequently use these non-IFRS measures in the evaluation of companies, many of which present similar metrics when reporting their results. We caution readers that Adjusted Revenue, Adjusted Gross Profit (and Adjusted Gross Profit Margin) and Adjusted EBITDA are not substitutes for gross revenue, gross profit or profit/loss, respectively. Article content This press release contains forward-looking statements, including statements regarding our business strategy, product development, timing of product development, events and courses of action. Article content Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as 'anticipate,' 'objective,' 'may,' 'will,' 'might,' 'should,' 'could,' 'can,' 'intend,' 'expect,' 'believe,' 'estimate,' 'predict,' 'potential,' 'plan,' 'is designed to' or similar expressions suggesting future outcomes or the negative thereof or similar variations. Forward-looking statements may include, among other things, statements about: our expectations regarding annual cost reductions; our expectations regarding Adjusted Revenue, Adjusted Gross Profit, and Adjusted EBITDA over 2025; our future customer concentration; our anticipated cash needs and our estimates regarding our capital requirements; our ability to anticipate the future needs of our customers; our plans for future products and enhancements of existing products; our future growth strategy and growth rate; our future intellectual property; and our anticipated trends and challenges in the markets in which we operate. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which POSaBIT will operate in the future, including the demand for our products, anticipated costs and ability to achieve goals. Although we believe that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. Article content Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to, business, economic and capital market conditions; the ability to manage our operating expenses, which may adversely affect our financial condition; our ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; market conditions and the demand and pricing for our products; our relationships with our customers, distributors and business partners; our ability to successfully define, design and release new products in a timely manner that meet our customers' needs; our ability to attract, retain and motivate qualified personnel; competition in our industry; our ability to maintain technological leadership; our ability to manage risks inherent in foreign operations; the impact of technology changes on our products and industry; our failure to develop new and innovative products; our ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect our business; our ability to manage working capital; and our dependence on key personnel. POSaBIT is an early-stage company; it may not achieve profitability; and it may not actually achieve its plans, projections, or expectations. Article content Important factors that could cause actual results to differ materially from POSaBIT's expectations include consumer sentiment towards POSaBIT's products, litigation, global economic climate, loss of key employees and consultants, additional funding requirements, changes in laws, technology failures, competition, and failure of counterparties to perform their contractual obligations. Article content Neither we nor any of our representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither we nor any of our representatives shall have any liability whatsoever, under contract, tort, trust or otherwise resulting from the use of the information in this news release or for omissions from the information in this news release. Article content Article content Article content Article content Article content Contacts Article content Investor Relations: investors@ Article content Article content Article content
Argaam
2 days ago
- Business
- Argaam
POS transactions hit SAR 11.7B last week: SAMA
The point-of-sale (POS) transactions in Saudi Arabia reached nearly SAR 11.7 billion in the week ended May 24, compared to about SAR 12.4 billion a week earlier. The number of POS transactions reached about 206 million last week, compared to nearly 217.6 million in the previous week, according to data issued by the Saudi Central Bank (SAMA). POS transactions represent consumer expenditure through debit and credit cards at major shopping centers, retail outlets, pharmacies, and others. The data indicated that the value of sales via POS increases in the weeks that coincide with the disbursement of salaries to government employees (the 27th of each month), in addition to the weeks that coincide with school vacations and the weeks preceding Eid Al-Fitr and Eid Al-Adha. On the other hand, the value of sales decreases in the weeks preceding salary disbursement and those coinciding with the start of the back-to-school season. The moving average value of POS transactions stood at about SAR 13.17 billion in 2025. Adopting the four-week moving average, the value of POS transactions soared during 2024 compared to 2023 and 2022. The average value of sales ranged between SAR 11 billion and SAR 14 billion in 2024, compared to SAR 10 billion to SAR 13 billion in 2023 and SAR 9 billion to SAR 12 billion in 2022. For the week ended on May 24, consumer spending was focused on the food and beverage (F&B) and the restaurants and cafes sectors, at 14.1% or SAR 1.65 billion each. Riyadh led in terms of POS transaction value by region, with approximately SAR 4.32 billion, representing 36.9% of the total. Jeddah followed with SAR 1.70 billion (14.5%). According to the latest data from the Saudi Central Bank (SAMA), e-payments in the retail (individuals) sector reached 79% of total payments carried out by individuals in the Kingdom during 2024. This achieved the target ratio in the Financial Sector Development Program, one of Vision 2030's programs, which aims to reach an e-payment ratio of 70% by 2025. Over the past few years, Saudi Arabia has witnessed remarkable progress and rapid growth in e-payment adoption, thanks to the myriad strategic efforts and initiatives launched by SAMA, in cooperation with the financial sector, to support the growth of the payments sector and stimulate the use of various e-payment methods in the Kingdom.
Bloomberg
4 days ago
- Business
- Bloomberg
Jack Dorsey's Block Plans Bitcoin Payments on Square Terminals
Block Inc. is launching a feature to allow businesses that use the company's Square point-of-sale terminals to accept payment in Bitcoin, according to a statement from the company. The Bitcoin payments feature is expected to start rolling out in the second half of 2025 and reach all eligible sellers in 2026, subject to regulatory approvals, according to the statement. When a customer wants to pay with Bitcoin, they will need to scan a QR code at checkout to initiate the payment, which will be facilitated via the Lightning Network.
Yahoo
19-05-2025
- Business
- Yahoo
Clover introduces new POS system for upscale restaurants
Clover, a point-of-sale (POS) solution from Fiserv, has unveiled Clover Hospitality by BentoBox at the 2025 National Restaurant Association (NRA) Show in Chicago. The launch represents an advancement for Clover, which already serves more than 125,000 restaurants, as it seeks to broaden its impact within the hospitality sector. The new technology suite meets the needs of upscale dining establishments, combining hardware, software and payment solutions to improve service and profitability. Clover's foray into the restaurant industry has been characterised by a grasp of the challenges faced by restaurateurs, from daily operations to the ever-changing expectations of guests, states the company. Its technology has supported an array of restaurants, enhancing operational efficiency with user-friendly tools that integrate front-of-house and back-of-house functions. Clover Hospitality is set to further streamline these processes to expedite service and table turnover. The Clover Hospitality system incorporates omnicommerce capabilities from BentoBox, which Fiserv acquired in 2021. This integration enables restaurants to expand their online presence, diversify revenue streams and interact with customers through advanced websites, ordering systems, reservation tools and marketing resources. With this expansion, Clover aims to cater to an even wider spectrum of dining establishments, from local outlets to global brands. Clover has partnered with Union Square Hospitality Group (USHG) to introduce Checkless Payments, a method allowing diners to pay without the traditional bill presentation. It has been devised by Fiserv's former Chairman, CEO and president Frank Bisignano, and USHG's executive chairman and founder Danny Meyer. Currently being trialled at USHG's Manahatta restaurant, this feature is set to be rolled out to other locations utilising the Clover Hospitality system. Fiserv senior vice-president and head of restaurants Krystle Mobayeni said: 'Clover has always been a leader in the industry and understands the pain points that restaurants are facing and the opportunities that lie ahead. 'We believe that the right technology can propel restaurants forward, allowing them to take day-to-day challenges in stride. Whether it's reducing check wait times, optimising labour and table turns, or ensuring consistent connectivity, Clover Hospitality provides an all-in-one solution empowering both diners and restaurateurs to have a seamless, elevated experience.' "Clover introduces new POS system for upscale restaurants" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Finextra
16-05-2025
- Business
- Finextra
Global Payments unveils Genius POS platform
Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology and software solutions, announced today the release of Genius, a powerful new POS command center for business operations. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The launch of Genius is an important milestone in the company's journey to streamline its ecosystem of innovative solutions, unifying all the Global Payments POS products that customers love into an all-in-one, intuitive and highly configurable new POS platform. "Going to market with a single, enhanced POS platform enables customers to enjoy the full range of features and commerce enablement solutions that we offer," said Cameron Bready, Global Payments' CEO. "With these changes, we are delivering a seamless experience for our customers while simplifying our business and establishing a stronger and more recognizable brand in the market." The new Genius platform enables global expansion and vertical specialization at scale, allowing Global Payments to rapidly launch in multiple countries, adapting to the unique requirements of each market. It also unlocks new opportunities in specialized retail segments like age regulated businesses, higher education and consumer service businesses. "Genius reinforces Global Payments' position as a leading technology partner for businesses seeking versatile software and payment solutions in today's rapidly-evolving marketplace," said Bob Cortopassi, Global Payments' president and chief operating officer. "This new POS platform accelerates the value we provide our customers by establishing a single, scalable and feature-rich continuum of POS technology that we will continue to enhance in the months and years ahead." Genius for Restaurants and Retail Launch First Genius for Restaurants is designed to meet the operational needs of every restaurant type and scale, from full service table management to checkouts in counter service environments. The platform, which is paired with hardware engineered for higher performance, delivers everything restaurants need: waitlist and reservations, real-time reporting, tableside payments, marketing tools, loyalty programs and more. Genius for Retail is designed to work easily right out of the box. From managing orders and tracking inventory to delivering reliable checkouts and built-in tools for loyalty, marketing, invoicing and reporting, Genius for Retail has everything small and medium-sized retailers need to deliver seamless customer experiences. Genius for Restaurants will launch at the National Restaurant Association show on Saturday, May 17, and will initially be available for U.S. and Canadian businesses. Genius for Retail will be introduced in June in the U.S., with Canada, Germany, Austria and Czech Republic following soon after. Coming later in the year, Global Payments will launch Genius for Enterprise across multiple countries. This solution serves the needs of the most demanding environments with large footprint and complex kitchen workflows, such as large QSR chains, stadiums and venues.
