XTM Reports Record GDV and Heightened Business Growth in December 2022
2023-01-05 08:30 ET - News Release
PROVIDES UPDATES ON U.S. BUSINESS DEVELOPMENTS AND ROLLOUT
Company Website: https://xtminc.com
MIAMI & TORONTO -- (Business Wire)
XTM Inc. (“XTM” or the “Company”) (QB: XTMIF / CSE:PAID / FSE:7XT), a Miami and Toronto-based Fintech creator of disruptive payment innovations and staff management solutions specifically for service industries including hospitality, personal care and service staff today announced that December’s Gross Dollar Value (“GDV”), a non-IFRS metric the Company monitors to track performance increased sharply during the month of December to $50.4 mm up 14.4% from the previous month.
The Company added almost 100 new locations (doors) during the month of December and 1,000 additional wallet holders. Ancillary revenue streams were piloted through the introduction of ‘Budget Insights’, the early version of what will be a robust in-app subscription-based and gamified budgeting tool. The beta generated more than 1,000 opt-ins within the first two weeks of launch. In addition, the company continues to see subscriptions increase on its tip and gratuity management tool that was officially launched in 2022. With the success of these new revenue generating features, the Company will continue to roll-out several new Client and Today user services and features, including automated staff management/time and attendance.
“We provide today’s update with confidence,” said Marilyn Schaffer, Founder and CEO. “With our growing momentum, increased revenue streams and new business in the United States that includes staffing agencies, time and attendance, payroll and POS integrations, we are increasingly bullish about our ability to sustain our growth while reducing our burn,” Marilyn added. “In the interim, we are actively assessing efficient US go-to-market solutions within which our unique EWA business profile fits.”