POSaBIT Systems Q3 total revenue down 2%
POSaBIT Systems Q3 total revenue down 2%
Overview
US cannabis fintech's Q3 Point of Sale revenue up 39% yr/yr, total revenue down 2%
Company paid down $1 mln debt early
Outlook
Company says recurring SaaS revenue growth makes its forecast more predictable
POSaBIT expects continued expansion of Brand Portal in Washington cannabis market
Result Drivers
POINT OF SALE GROWTH - Co said 39% yr/yr growth in Point of Sale business expanded recurring SaaS revenue and improved forecast predictability, per CEO Ryan Hamlin
AI PRODUCT LAUNCHES - Co shipped new AI-driven POS server and refreshed merchant portal to improve data access and management for retailers
BRAND PORTAL ADOPTION - Co said Brand Portal gained traction in Washington, with most top cannabis brands now live on the platform
Company press release: ID:nBw85GB35a
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Gross Margin |
| 87.00% |
|
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)