Victory Square Technologies Inc (CSE:VST, OTCQX:VSQTF) announced that its third quarter 2022 revenue surged 380% year-over-year to $1,620,221, boosted by growth in its digital health assets.
The company also said it ended the quarter with cash and equivalents of $2,475,771 as of September 30, 2022.
“We’ve seen significant growth in our Digital Health assets, specifically IV Hydreight,” Victory Square Technologies CEO Shafin Diamond Tejani said in a statement.
READ: Victory Square Technologies announces closing of transaction involving former subsidiary IV Hydreight
“Our team is laser focused on unlocking value from the existing portfolio and building a pipeline of new opportunities,” Tejani added.
Victory Square noted that its revenue for the nine months ended September 30, 2022 was $3,852,101, up from $748,835 during the same period last year.
The company also outlined highlights from its investment portfolio, which included:
- IV Hydreight, which provides immediate wellness through its mobile platform and core team of professionally trained service providers, has seen an approximately 606% year-over-year growth rate in its new business partner sign-ups;
- Stardust Solar, which provides renewable energy education and is one of the first companies in North America to offer a franchise opportunity dedicated to the installation of solar PV systems, has experienced 100% year-over-year growth;
- GameOn, which partners with the world’s biggest sports, media, and entertainment IPs to launch brand-building, money-making web3 games, broke even in October while closing five deals in two months and;
- XR Immersive Tech, which provides social entertainment, Virtual Reality (VR) and Augmented Reality (AR) content, attractions and experiences, has seen its platform subscription increase 108% year over year.
Victory Square added that IV Hydreight is expected to begin trading under the symbol ‘NURS’ on or about December 1, 2022.
Vancouver-based Victory Square builds, acquires, and invests in promising startups, then provides the senior leadership and resources needed for fast-track growth. Its portfolio consists of over 25 global companies using AI, VR/AR, and blockchain to disrupt sectors as diverse as fintech, insurance, health, and gaming.
Contact Sean at sean@proactiveinvestors.com