Givex Announces Third Quarter 2021 Financial Results

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Revenue grew 33% to $14.6M and Adjusted EBIDTA* increased 55% to $2.7 million compared to the three-month period ending September 30, 2020, while customer locations reached 96,000

Toronto, Ontario–(Newsfile Corp. – December 6, 2021) – Givex Information Technology Group Ltd. (TSX: GIVX) (formerly County Capital 2 Ltd.) (the “Corporation“), following its listing on the Toronto Stock Exchange upon the completion of the acquisition of Givex Corporation (“Prior Givex” and collectively with the Corporation “Givex“), is pleased to announce Prior Givex’s financial results for the third quarter ending September 30, 2021.

Givex reports in Canadian dollars and in accordance with International Financial Reporting Standards (“IFRS”).

“Our strong third quarter results are a result of the dedication and hard work of everyone in the company,” said Don Gray, CEO of Givex. “We were able to significantly increase our revenue, gross transaction volumes and number of customer locations despite the impact of COVID-19 on the global retail and restaurant industries, further demonstrating the demand for our solutions,” he added.

Third Quarter Financial Highlights and Recent Events

  • Revenue grew 33% to $14.6 million compared to Prior Givex’s three-month period ending September 30, 2020
  • Revenue for the nine-month period ending September 30, 2021, grew 12% to $40 million compared to Prior Givex’s nine-month period ending September 30, 2020
  • Gross Transaction Volume** increased 21% to $1.1 billion compared to Prior Givex’s three-month period ending September 30, 2020
  • Gross Transaction Volume increased 16% to $3.6 billion compared to Prior Givex’s nine-month period ending September 30, 2020
  • Customer Locations*** expanded to approximately 96,000 globally, an increase of 4,000 since September 30, 2020
  • Adjusted EBITDA grew 55% to $2.7 million compared to Prior Givex’s three-month period ending September 30, 2020

Third Quarter Operational Highlights and Recent Events

  • The Corporation acquired all issued and outstanding securities of Prior Givex and completed a direct listing on the Toronto Stock Exchange by ways of a qualifying transaction through the facilities of the TSX Venture Exchange in less than three months from announcement
  • Completed an upsized $22 million private placement which more than doubled the initial proposed $10 million offering
  • Givex launched GivexPay, an integrated payment processing solution, enabling users to facilitate payments with end customers
  • Barburrito a Canadian based QSR chain completed its installation of GivexPOS, Online ordering, Gift Cards and Loyalty in all of its 170 locations
  • GivexPOS locations increased from 832 in Q3 2020 to 1151 in Q3 2021 an increase of 38%

About Givex

Givex (TSX: GIVX) is a fintech company with a 20-year track record of sustainable, profitable growth that developed and commercialized a cloud-based, omnichannel technology platform seamlessly integrating gift and loyalty programs, point-of-sale systems and flexible payment services, to enterprise-level retail and hospitality merchants across the globe. With clients including some of the world’s largest brands, Givex’s platform is currently deployed in approximately 96,000 client locations across 70 countries.

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