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Bullboard - Stock Discussion Forum Payfare T.PAY

Alternate Symbol(s):  PYFRF

Payfare Inc is a global fintech company offering mobile banking, instant payment, and loyalty-reward solutions. Its financial technology platform is providing financial inclusion and empowerment to next-generation workers around the globe with a full-service mobile bank account and debit card with instant access to their earnings and relevant cash-back rewards. Some brands that use Payfare include Lyft, Uber, and DoorDash. Its geographical segments are Canada, the United States, and Mexico.

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Payfare > Earnings Release
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Earnings Release

1condor (263) | August 10, 2022 05:09 pm

I am currently not a holder of the stock but do monitor it from time to time. These latest earnings are very good and should give the stock a good pop in the short term.

RE:Earnings Release

divime1 (167) | August 10, 2022 05:11 pm

TORONTOAug. 10, 2022 /PRNewswire/ - Payfare Inc. ("Payfare" or the "Company") (TSX: PAY), a leading fintech powering instant payout and digital banking solutions for the gig workforce, today announced the filing of its Financial Statements and Management's Discussion and Analysis ("MD&A") for the quarter ending June 30, 2022. A comprehensive discussion of Payfare's financial position and results of operations are provided in the MD&A, which is filed on SEDAR under Payfare's profile and can be found at www.sedar.com.

Q2 2022 Financial Highlights:
  • Revenue of $33.6 million in Q2 2022, representing a $24.8 million (285%) increase over Q2 2021, and an $8.7 million (35%) increase over Q1 2022.
  • Gross profit of $6.4 million (19.1% margin) in Q2 2022, up $5.3 million compared to Q2 2021 (13.0% margin) and up $2.1 million compared to Q1 2022 (17.2% margin).
  • Net loss improved to ($2.3 million) in Q2 2022 compared to a net loss of ($5.0 million) in Q2 2021.
  • First quarter generating positive Adjusted EBITDA1 of $0.3 million in Q2 2022, a $3.4 million increase over Q2 2021 and a $1.2 million increase over Q1 2022.
  • Under the Normal Course Issuer Bid (NCIB) program, the Company has repurchased 257,725 Common Shares to date at an average cost of $4.53 per share.
  • Total gross dollar value (Total GDV)1 in Q2 2022 was $2.0 billion, an increase of $1.4 billion (257%) over Q2 2021 and $0.5 billion (36%) over Q1 2022.
  • Ended Q2 2022 with 884,251 active users1, an increase of 621,684 (237%) compared to active users as at June 30, 2021 and an increase of 187,889 (27%) compared to active users as at March 31, 2022.
Executing on strategic objectives:
  • Payfare increased its 2022 annual revenue guidance to $125 million - $135 million from its previous issued guidance of $115 million - $125 million, the midpoint of which represents 197% year over year growth.
  • Successfully launched Paid App by Payfare in Q2 2022 with an initial cohort of new partner clients and a dedicated go-to-market strategy to convert a strong pipeline of new opportunities.

"The second quarter was a significant financial milestone for Payfare as we achieved positive Adjusted EBITDA for the first time," said Marco Margiotta, CEO and Founding Partner of Payfare. "We remain focused on growth and are able to deploy capital opportunistically including remaining active on buying back our shares, funding the launch of new products, and other strategic growth opportunities".

Conference Call

Management will host a conference call on Thursday, August 11, 2022, at 8:30 a.m. ET to discuss these results. A short presentation in connection with the conference call will be made available on the Company's website at https://corp.payfare.com/investors/. Management will also host a live question and answer session on the conference call with analysts.

To access the conference call, please dial (438) 803-0546 or (888) 440-2009. Please call the conference telephone number 10-15 minutes prior to the start time so that you are in the queue for an operator to assist in registering and patching you through.

An archived recording of the conference call will be available until August 19, 2022. To listen to the recording, call 647-362-9199 or 1-800-770-2030 and enter passcode 2151054

RE:Earnings Release

CmMuskie (2) | August 10, 2022 07:03 pm

I hold 1100 shares at a ava of 5.10.   This company should continue with good growth.   Sould have a good pop tomorrow.  Curious to hear when they thing that they will be profitable. 

RE:Earnings Release

CmMuskie (2) | August 10, 2022 07:03 pm

I hold 1100 shares at a ava of 5.10.&nbsp; &nbsp;This company should continue with good growth.&nbsp; &nbsp;Sould have a good pop tomorrow.&nbsp; Curious to hear when they thing that they will be profitable.&nbsp;<br /> <br />

RE:RE:Earnings Release

1condor (263) | August 12, 2022 10:21 am

This is so typcial with PAY...and a reason I no longer hold it...good earnings yet the stock just cant stay above 5 bucks.

RE:RE:RE:Earnings Release

CmMuskie (2) | August 12, 2022 01:57 pm

Very frustrating for sure.   This will kick at some point in time.  Sounds like like there will be some great news releases soon.   I am holding. 

RE:RE:RE:RE:Earnings Release

1condor (263) | August 16, 2022 11:25 am

CmMuskie..I am not surprised whatsoever as the stock continue to sink again (likely back into the low 4's). Very good company but seems to be a favourite among traders who pop it towards earnings and then sell it off on the news. This type of trading has been going  on for some time with this stock...so rinse and repeat best describes it. No longer a holder...but might do a trade if it tips below 4.

RE:RE:RE:RE:RE:Earnings Release

1condor (263) | August 29, 2022 11:49 am

Below 4 would be a decent entry point for a trade.

RE:RE:RE:RE:RE:RE:Earnings Release

stockshack (29) | September 07, 2022 11:05 am

1condor wrote: Below 4 would be a decent entry point for a trade.
      Below 3 is possible.

RE:RE:RE:RE:RE:RE:Earnings Release

1condor (263) | September 08, 2022 02:19 pm

The old 52 week low is now in jeopardy. Looking to do a trade on this one...but will let it drift lower and look at it again around 3.75.