Bewhere Holdings Inc V.BEW

What a Q2; Growth Accelerates to record levels

[kulewater]

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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[Ciao]

Earnings for the quarter exceeded the entire 2023 year.  Great quarter to quarter numbers as well.   That large order announced in July will impact q3 so expect another solid quarter coming up. I estimated the value to be about $1.4M.