POSaBIT Systems Corp (OTCPK:POSAF)

Q3 2024 POSaBIT Systems Corp Earnings Call Transcript

Nov 26, 2024 / 09:30 PM GMT

Release Date Price: $0.0774 (-0.32%)

Transcript

Key Points

Positve

POSaBIT Systems Corp (POSAF) achieved positive free cash flow and adjusted EBITDA for the second consecutive quarter, indicating financial stability.
The company launched its 1.0 e-comm and menu service, which is expected to add over a million dollars in new revenue with margins in the 70% range over the next 12 to 18 months.
POSaBIT Systems Corp (POSAF) increased its point of sale merchants by 33% year-over-year, demonstrating growth in its core business.
The company settled a lawsuit for $350,000, reducing ongoing legal expenses and improving financial health.
POSaBIT Systems Corp (POSAF) is preparing for potential regulatory changes in the cannabis industry, such as rescheduling cannabis to a schedule three drug, which could positively impact its business operations.

Negative

Total revenue for the third quarter of 2024 was down 5% compared to the previous quarter, indicating a decline in sales.
Gross profit margin decreased from 51% in the prior quarter to 40% in the current quarter, primarily due to a one-time channel partner revenue sharing payment.
Operating expenses increased to 3.4 million in the third quarter, up from 2.8 million in the prior quarter, driven by higher administrative and employee expenses.
Net loss for the third quarter of 2024 was approximately 2.1 million, compared to a net loss of 454,000 in the previous quarter.
Cash on hand decreased from 1.1 million as of June 30th, 2024, to approximately 908,000 as of September 30th, 2024, despite being cash flow positive.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PBIT.CD - POSaBIT Systems Corp
Q3 2024 POSaBIT Systems Corp Earnings Call
Nov 26, 2024 / 09:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and welcome to the Positive Systems Corporation third quarter, 2024 earnings call. At this time, all participants have been placed on a listen-only mode and the floor will be open for your questions and comments after the presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. It's now my pleasure to turn the floor over to your host, Oscar Dahl. The floor is yours.

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Unidentified_2 [2]
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Thank you operator with me on this call

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