Perk Labs Inc C.PERK

Alternate Symbol(s): PKLBF

Perk Labs Inc. is a Canada-based company, which specializes in providing a single unified payment interface for complex purchase environments. It provides a single unified payment interface for environments that have multiple retailers processing an array of different transactions, including food and beverage purchases, merchandise sales, ticketing, registrations, donations and even parking. The Company's principal business is mobile apps, payments, and loyalty for large enterprise complex purchasing environments. It provides a custom-branded solution for multi-retailer venues such as stadiums and arenas, university and college campuses, conference centers, festivals, charity events and hotels and resorts. Its solutions provide mobile ordering and payment systems, allowing customers the ability to scan a quick-response (QR) code or near field communication (NFC) sticker to order and pay for a multitude of services and payment types directly from their phone.

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Perk Labs Inc > Perk Labs Reports Fiscal Year-End Financial Results

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Post by Richardsyon Mar 26, 2021 9:36am

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Perk Labs Reports Fiscal Year-End Financial Results

Revenue of $45,990 in Q4 2020 increased 508% from $7,558 in Q4 2019. Revenue of $63,896 for 2020 increased 99% from $32,093 in 2019.
General and administration expenses decreased 54% from $2.6M in 2019 to $1.2M in 2020 as the Company continued to right-size its expenditures.
Research and development expenses decreased 74% from $2.8M in 2019 to $0.7M in 2020 due to the right-sizing of the technology team and decreased infrastructure requirements associated with the new Perk Hero platform.
Sales and marketing expenses decreased 39% from $1.1M in 2019 to $0.7M in 2020 as the team focused on developing the platform.
Net loss reduced to $4.5M for 2020 compared to $8.1M in 2019.