Q3 2021 Highlights
- Revenue was $24.7 million, representing a 37% increase over Q2 2021 and a 402% increase over Q3 2020
- Gross Margin was $9.5 million, representing a 15% increase over Q2 2021 and a 359% increase over Q3 2020
- 91% of Revenue for Q3 2021 was derived from U.S. Operations — up from 61% in Q3 2020
- Voxtur closed the acquisition of Xome Valuations in Q3 2021
- The Company ended Q3 2021 with cash and cash equivalents of $37.9 million
TORONTO and TAMPA, Fla., Nov. 29, 2021 (GLOBE NEWSWIRE) -- Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) ("Voxtur" or the "Company"), a technology company creating a more transparent and accessible real estate lending ecosystem, announced today its Unaudited Condensed Interim Consolidated Financial Statements for the three and nine months ended September 30, 2021 and 2020, and the related Management’s Discussion and Analysis (“MD&A”), are available at www.sedar.com and on the Company’s website at https://www.voxtur.com/investors.
“Voxtur remains focused on becoming the largest and most trusted provider of data, SaaS-based applications, and tech-enabled services in the property technology space. We are delighted to report that our momentum continues and has translated into another strong quarter, with 37% quarter-over-quarter revenue growth achieved from Q2 to Q3 2021. Our team has built a solid foundation and established a focused strategic path for Voxtur’s transition to primarily a SaaS-based revenue model. I am confident in our ability to maintain our positive growth trajectory for the remainder of the year and into 2022,” stated Voxtur CEO, Jim Albertelli.
“We are very proud of our accomplishments in these last few quarters and remain dedicated to further delivering double digit revenue growth, improving our gross margins and increasing recurring revenue. Furthermore, we expect to see increased volumes in valuation, title and default services as a result of the foreclosure moratorium being lifted. Voxtur will continue to reinvest in the business and benefit from investments made in 2021. As a result, we anticipate positive EBITDA again starting in Q1 2022,” added Albertelli.
Financial Results for Q3 2021
- Revenue for Q3 2021 was $24.7 million, representing a 37% increase over Q2 2021 and a 402% increase over Q3 2020
- Revenue for the nine months ended September 30, 2021 was $57.2 million, which represents a 294% increase over nine months ended September 30, 2020
- Gross Margin was $9.5 million, representing a 15% increase over Q2 2021 and a 359% increase over Q3 2020
- Gross Margin for the nine months ended was $25 million which represents a 280% increase over the nine months ended 2020
- Revenue from US Operations represented approximately 91% of total revenue for Q3 2021 and 89% of total revenue for the nine months ended September 30, 2021, up from approximately 61% for Q3 2020 and 60% for the nine months ended September 30, 2020. This is a result of our continued expansion into U.S. markets following the Apex, Voxtur, Anow and Xome acquisitions.
- Cash and Cash Equivalents at the end of Q3 2021 was $37.9 million
https://www.globenewswire.com/news-release/2021/11/29/2342586/0/en/Voxtur-Announces-Record-Results-for-Q3-2021-Ended-September-30-2021.html