Strong Second Quarter 2021 Results - Sustained Performance Improvements Drive Third Consecutive Quarter of Sequential Revenue, Gross Profit and Adjusted EBITDA Growth -
- Revenue Increased 152% on a Year-Over-Year and 58% Sequentially -
- Gross Profit Increased 76% from the Year-Ago Quarter and 37% Sequentially -
- Adjusted EBITDA Increased 10 X from the Year-Ago Quarter and 283% Sequentially -
- Continued Execution on Pipeline Expands Presence by Geographies and Verticals -
TORONTO, Aug. 11, 2021 (GLOBE NEWSWIRE) -- Points International Ltd. (TSX: PTS) (Nasdaq: PCOM) (Points or the Company), the global leader in powering loyalty commerce, is reporting financial results for the second quarter ended June 30, 2021.
Unless otherwise noted, all amounts are in USD. The complete second quarter Condensed Consolidated Interim Financial Statements and Management’s Discussion & Analysis are available at www.sedar.com and www.sec.gov.
“Our second quarter performance continued our momentum from last quarter, with strong sequential and year-over-year improvements across our key financial metrics,” said Rob MacLean, CEO of Points. “We generated over $100 million in revenue for the first time since the fourth quarter of 2019, with growth across gross profit and Adjusted EBITDA1 also outpacing our expectations. While we have continued to drive transactions through our promotional activity, our services more closely tied to near-term travel also began to reaccelerate as a result of vaccine-related tailwinds. These trends demonstrate the continued progress of our recovery from the lows of the pandemic last year, as well as the resilience of our platform and growth strategy.
“We have delivered robust progress on our core growth drivers through deepening our existing engagements, establishing new global partnerships, and enhancing our in-market services through our growing automated marketing capabilities. In addition to further expanding our presence in the Middle East, we have signed a new long term partnership with a prominent carrier in the Asia-Pacific region. We will be launching a number of services with this partner in the coming months and look forward to updating you on the progress. We have also increased our deployments in non-travel verticals, both through further developing pre-pandemic engagements and expanding our services into new types of loyalty programs. Looking ahead, we continue to have a very healthy pipeline of business, and I expect discussions with both new and existing partners to remain positive.”
Mr. MacLean concluded: “Amid ongoing positive industry trends, we recognize that the pace of global recovery remains fluid. We continue to monitor changes in health protocols around the world, especially those related to the Delta variant. Within our business, we remain cautiously optimistic about our growth trajectory for the second half of 2021, and are encouraged by the strong sequential growth we have generated over the last three quarters. We look forward to leveraging our strong financial and operational foundation to further optimize the value we create for our partners, loyalty customers, and shareholders alike.”
https://www.globenewswire.com/news-release/2021/08/11/2279194/16082/en/Points-International-Reports-Strong-Second-Quarter-2021-Results.html