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Bewhere Holdings Inc V.BEW

Alternate Symbol(s):  BEWFF

Technology Software - Application
BeWhere Holdings Inc. is a Canada-based mobile internet of things (M-IOT) solutions company. The Company is focused on designing and selling self-powered hardware with sensors and software applications. The Company develops mobile applications, middleware and cloud-based solutions that stand-alone or that can be readily integrated with existing software. Its solutions serve two markets, such as Asset Tracking, and Connected Sensors. Its Asset Tracking consists of remote location tracking various non-powered fixed and movable assets such as trailers, dry vans, and others. Its Connected Sensors remotely track information on assets for water pressure, water detection and soil moisture. The Company also offers solutions that can be fully integrated with existing software, and white-labeled. The Company’s devices use the latest available cellular technologies (LTE-M and NB-IoT) to transmit collected data into mobile applications and cloud-based platforms.


TSXV:BEW - Post by User

Bewhere Holdings Inc > What a Q2; Growth Accelerates to record levels
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Post by kulewateron Aug 22, 2024 8:32am
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Post# 36191396

What a Q2; Growth Accelerates to record levels

What a Q2; Growth Accelerates to record levels

Second Quarter 2024 Highlights

  • Total Revenue increased by 40% year over year - Total Revenue for the three months ended June 30, 2024, was $4,320,672 compared to $3,086,441 for the same period in 2023: an increase of $1,234,231. 
  • Recurring Revenue increased by 32% year over year - Recurring Revenue for the three months ended June 30, 2024, was $1,660,689 compared to $1,255,448 for the same period in 2023: an increase of $405,241.
  • Gross Profit increased by 31% year over year - Gross profit for the three months ended June 30, 2024, was $1,411,263 compared to $1,077,677 for the same period in 2023: an improvement of $333,586.
  • Net income before taxes increased by 510% year over year - The Company recorded net income for the three months ended June 30, 2024, of $558,892 compared to $91,623 for the same period in 2023: an increase of $467,269. 
  • Working capital and Cash in hand - At June 30, 2024, the Company had working capital of $6,768,741. Cash balance on June 30, 2024 was $4,780,030.
  • Adjusted EBITDA (non-IFRS measure) improved by 118% year over year - Adjusted EBITDA for the three months ended June 30, 2024, was $566,317 compared to $259,536 for the same period in 2023, an improvement of $306,781.
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