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Globe and Mail
3 days ago
- Business
- Globe and Mail
XTM Files Q1 2025 Interim Financial Results
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.
National Post
3 days ago
- Business
- National Post
XTM Files Q1 2025 Interim Financial Results
Article content Article content TORONTO — 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'). Article content 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. Article content The partnership and ongoing support of Digital Commerce Bank positions XTM to rapidly scale its SaaS business with robust financial and infrastructure backing. Article content Q1 2025 Financial and Operational Highlights Article content 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 Article content Subsequent Events – Q1 2025 Article content 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. Article content Filing Details Article content The audited consolidated financial statements and MD&A for the year ended December 31, 2024, are available on the Company's profile at Article content About XTM Inc. Article content 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. Article content 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. Article content 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. Article content Article content Article content Article content Investor Contact: Article content Article content
National Post
07-05-2025
- Business
- National Post
XTM Files 2024 Annual Financial Results
Article content Article content Article content TORONTO — 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 earned wage access ('EWA') through its AnyDay™ platform, today announced it has filed its audited financial statements and management's discussion and analysis (MD&A) for the fiscal year ended December 31, 2024 (the 'Required Filings'). Article content With the April 25, 2025 announcement of a signed agreement with Pateno Payments Inc. ('Pateno'), a subsidiary of Digital Commerce Group, and the resulting long-term partnership and support from Digital Commerce Bank and its subsidiaries, the Company is now well-positioned to scale rapidly, backed by strong financial support and a robust infrastructure. Article content 2024 Financial and Operational Highlights Article content Revenue Growth: Revenue increased 34% year-over-year to $9.1 million, driven by continued demand for XTM's payment solutions, despite ongoing economic pressures. Gross Dollar Value (GDV): The Company processed more than $800 million in payments to hospitality sector employees — a 21% increase — with 95% of the volume generated in Canada. New Client Growth: XTM added 689 new business locations in 2024, bringing total onboarded locations to more than 3,500 as of year-end 2024. Platform Engagement: Active users on XTM's Today platform increased by 40% compared to the prior year. An active user is defined as one making at least one transaction via the Today wallet within a 30-day period. Operational Streamlining: The Company focused on operational efficiency, reducing overhead, eliminating redundancies, and investing in long-term sales partnerships to support scalable growth. Article content 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 uplisting to a senior exchange in the second half 2025. Processing Agreement: On April 25, 2025, XTM signed a USD $3 million agreement with Pateno Payments for QRails processing operations. The transaction is expected to cut monthly operating costs by approximately 50%. XTM retains full ownership and management of its proprietary AnyDay™ EWA platform, including client relationships and technology integrations. Denver Office Virtualized: In March 2025, XTM moved to a virtual work environment, divesting itself of significant office overhead expenses. Article content Filing Details Article content The audited consolidated financial statements and MD&A for the year ended December 31, 2024, are available on the Company's profile at Article content About XTM Inc. Article content XTM Inc. is a global fintech innovator with offices in Toronto and Miami. Through its AnyDay™ platform XTM delivers instant pay and Earned Wage Access solutions to restaurants, 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. Article content Forward-Looking Statements Article content 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. Article content Article content Article content Article content Contacts Article content Investor Contact: Article content Article content Article content
Business Wire
07-05-2025
- Business
- Business Wire
XTM Files 2024 Annual 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 earned wage access ('EWA') through its AnyDay™ platform, today announced it has filed its audited financial statements and management's discussion and analysis (MD&A) for the fiscal year ended December 31, 2024 (the 'Required Filings'). The long-term partnership and support from Digital Commerce Bank and its subsidiaries, positions XTM to scale rapidly, backed by strong financial support and a robust infrastructure. Share With the April 25, 2025 announcement of a signed agreement with Pateno Payments Inc. ('Pateno'), a subsidiary of Digital Commerce Group, and the resulting long-term partnership and support from Digital Commerce Bank and its subsidiaries, the Company is now well-positioned to scale rapidly, backed by strong financial support and a robust infrastructure. 2024 Financial and Operational Highlights Revenue Growth: Revenue increased 34% year-over-year to $9.1 million, driven by continued demand for XTM's payment solutions, despite ongoing economic pressures. Gross Dollar Value (GDV): The Company processed more than $800 million in payments to hospitality sector employees — a 21% increase — with 95% of the volume generated in Canada. New Client Growth: XTM added 689 new business locations in 2024, bringing total onboarded locations to more than 3,500 as of year-end 2024. Platform Engagement: Active users on XTM's Today platform increased by 40% compared to the prior year. An active user is defined as one making at least one transaction via the Today wallet within a 30-day period. Operational Streamlining: The Company focused on operational efficiency, reducing overhead, eliminating redundancies, and investing in long-term sales partnerships to support scalable growth. Adjusted Financial Metrics (Non-IFRS; see MD&A for definitions) Adjusted EBITDA Loss: Improved 24% to $(14.6) million, from $(19.4) million EBITDA Margin: Narrowed to (161%) from (286%) in 2023 Adjusted Net Loss: Improved 6% to $(20.9) million, or $(0.10) per diluted share, from $(0.12) Subsequent Events 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 uplisting to a senior exchange in the second half 2025. Processing Agreement: On April 25, 2025, XTM signed a USD $3 million agreement with Pateno Payments for QRails processing operations. The transaction is expected to cut monthly operating costs by approximately 50%. XTM retains full ownership and management of its proprietary AnyDay™ EWA platform, including client relationships and technology integrations. Denver Office Virtualized: In March 2025, XTM moved to a virtual work environment, divesting itself of significant office overhead expenses. 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 Expand About XTM Inc. XTM Inc. is a global fintech innovator with offices in Toronto and Miami. Through its AnyDay™ platform XTM delivers instant pay and Earned Wage Access solutions to restaurants, 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. Learn more at Expand 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.
