(TheNewswire)
VANCOUVER, British Columbia – December 2, 2024 – TheNewswire – Victory Square Technologies Inc. (“Victory Square” or the “Company”) (CSE:VST) (OTC:VSQTF) (FWB:6F6), a leading technology-focused venture builder, is pleased to announce its consolidated financial results for the three months ended September 30, 2024, and a summary of key business achievements.
Q3 2024 was a milestone quarter, reflecting the Company’s continued commitment to delivering shareholder value through innovation, strategic partnerships, and a diversified portfolio of high-growth technology companies.
Q3 2024 Financial and Business Highlights:
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Net Income: Increased to $10,661,274, a significant turnaround from $(4,926,854) in Q3 2023.
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Earnings per Share: Rose to $0.11 compared to $(0.04) in the same period last year.
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Hydreight Technologies:
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Reported record revenue of $6.12M in Q3 2024, representing a year-over-year increase of 54%.
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Achieved positive Adjusted EBITDA.
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Ranked 56th on the 2024 Deloitte Technology Fast 500™ in North America and 9th in Deloitte’s Technology Fast 50™ in Canada.
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VSDHOne Launch: In partnership, introduced a telemedicine and e-commerce solution that helps companies launch a D2C healthcare brand in a matter of days in all 50 states. VSDHOne sold over 200 licenses across all 50 within the first 90 days.
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Strategic Transaction: Completed a strategic deal with Edge Total Intelligence, securing 4,250,000 shares valued at $4,250,000 as of September 30, 2024.
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Stardust Solar: Began trading on the TSX Venture Exchange under the symbol "SUN".
“Victory Square’s Q3 2024 results are a testament to the strength of our strategy and the potential of our diverse portfolio of cutting-edge companies,” said Shafin Diamond Tejani, CEO of Victory Square Technologies. “Achieving a net income of over $10.6 million and earnings per share of $0.11 underscores our ability to create value for shareholders while fostering innovation across emerging technology sectors. We’re particularly proud of the success of Hydreight Technologies and the rapid adoption of VSDHOne, which highlight our commitment to shaping the future of healthcare and technology. As we close out 2024, we remain focused on driving growth, increasing profitability, and delivering exceptional returns for our investors.”
The Company’s consolidated financial statements for the three months ended September 30, 2024, along with its Management Discussion and Analysis (MD&A), are available on SEDAR+ at www.sedar.com.
Victory Square Technologies Investor Webinar Q&A
We’re excited to invite you to the next Victory Square Investor Webinar Q&A with CEO Shafin Diamond Tejani. This webinar will be focused on providing a company update and answering shareholders’ questions.
Please see details for the webinar below:
Victory Square Technologies Investor Webinar Q&A
Date: Thursday, December 12, 2024
Time: 11:15 am PST - 12:00 pm PST (2:15 pm EST - 3:00 pm EST)
Location: via zoom
Please register by clicking the link below:
https://us06web.zoom.us/webinar/register/WN_DV5SMWj-Styd_PuWI8HANQ
Sign up to VST’s official newsletter at www.VictorySquare.com/newsletter
For more information, please visit:
Website:www.victorysquare.com
LinkedIn:https://www.linkedin.com/company/victory-square-technologies/
YouTube:https://www.youtube.com/@victorysquaretechnologies7418
On behalf of the Board of Directors
“Shafin Diamond Tejani”
Director and Chief Executive Officer
Victory Square Technologies Inc.
www.victorysquare.com
For further information about Victory Square, please contact:
Investor Relations Contact: Abbey Vogt
Email: ir@victorysquare.com
Telephone: 604 283-9166
Peter Smyrniotis: Director
Telephone: 604 283-9166
About Victory Square Technologies Inc.
Victory Square Technologies builds, acquires, and invests in promising startups across various industries, including AI, gaming, blockchain, clean technology, and digital health. Through its dynamic ecosystem, Victory Square nurtures and scales innovative companies, creating long-term value for shareholders.
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FORWARD-LOOKING INFORMATION
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the outlook of the business of Victory Square and its portfolio companies, including, without limitation, statements relating to future performance, execution of business strategy, future growth, business prospects and opportunities of Victory Square and its related subsidiaries and portfolio companies, including those items listed under the heading “Net Asset Value (“NAV”) Update”, “Notable Portfolio Highlights” and other factors beyond our control. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes”, “expects”, “to be”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, “objectives”, “outlook” or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical facts contained in this news release are forward-looking statements. Forward-looking information is based on certain key expectations and assumptions made by the management of Victory Square. Although Victory Square believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on them because Victory Square can give no assurance that they will prove to be correct. Although Victory Square believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statements has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Victory Square’s control, including, but not limited to, the risk factors discussed in the continuous disclosure materials of the Victory Square which are available under the Victory Square’s profile on SEDAR at www.sedar.com. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. Actual results and developments may differ materially from those contemplated by these statements. The statements contained in this news release are made as of the date of this news release. Victory Square disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
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