Givex Corp (TSX:GIVX, OTCQX:GIVXF) has reported second-quarter financial results, revealing increases in revenue and gross profit.
For the three months ended June 30, the workflow technology company reported revenue of $19.4 million, up 15% year-over-year, and gross profit of $1.9 million, up 16% year-over-year.
Adjusted EBITDA rose 69% to $1.7 million over the same span and net loss decreased narrowed 75% from $3.9 million to $978,000.
"In Q2 2023, Givex continued to increase adjusted EBITDA by increasing gross profit and keeping a tight rein on payroll costs," CEO Don Gray said in a statement. "Net loss decreased 75%, from $3.9 million to $978,000. We are working hard to continue this trend for the rest of the year."
That growth can be seen in Givex’s total gross transactional value, which improved 20% to $1.77 billion, and customer locations, which increased 7% to 124,000 from 116,000.
Givex has provided customer engagement solutions to its merchants since 1999, with a footprint of more than 122,000 locations across its 12 global offices. In addition to gift card programs, it offers point-of-sale system GivexPOS, loyalty programs, GivexPay and more.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
Follow him on Twitter @andrew_kessel