Toronto, Ontario--(Newsfile Corp. - May 24, 2023) - RIWI Corp. (TSXV: RIWI) (OTC Pink: RWCRF) (the "Company" or "RIWI"), a global trend-tracking and prediction technology firm, reported its financial results for the quarter ended March 31, 2023. All figures are reported in U.S. dollars unless otherwise indicated. RIWI's financial statements are prepared in accordance with International Financial Reporting Standards ("IFRS").
RIWI Highlights (in U.S. Dollars):
RIWI earned $1,201,240 in revenues in the first quarter of 2023 compared to $897,398 for the three months ended March 31, 2022, an increase of 33.9%. That revenue consisted of $422,358 in transaction revenue, $312,217 in recurring revenue and $466,665 in project-based revenue. RIWI experienced a net loss of $127,943 for the three months ended March 31, 2023, as compared to a net loss of $174,781 for the three months ended March 31, 2022. The Company's transaction revenue has approximately doubled in the first quarter of 2023 versus the fourth quarter of 2022 and management is projecting continued growth of this revenue stream in subsequent quarters in the current calendar year.
Transactional revenue scales by increasing the conversion rates of survey respondents being matched to our platform and completing specific surveys as well as by increasing our respondent pool. To quantify the opportunity for scale, in December 2022, the volume of respondents had increased to approximately 3,000 per day from approximately 1,800 without the need for additional resources or computing power, as the Company noted in its MD&A of Q3 2022. In the first quarter of 2023, the average number of respondents exceeded 6,000 per day.
The Compass Data series product continued to see growth with new paying customers, and several new prospective client trials are underway. In addition, our China data series has a growing pipeline and is opening up several new sales and partnership opportunities for RIWI.
RIWI signed 15 new client contracts in the three months ended March 31, 2023, including contract signings with six new RIWI customers.
Thirteen clients were migrated to the new RIWI platform and we expect that the legacy RIWI platform will be fully retired by the end of 2023.
RIWI hired a new Chief Financial Officer subsequent to the first quarter to ensure excellence in financial operations, investor relations, commercial partnerships, governance and long-term growth.
RIWI was recognized in several publications in the first quarter, including the Bank of Canada's "Canadian Survey of Consumer Expectations-Fourth Quarter of 2022," The Canadian Broadcasting Corporation's "Inflation: les Canadiens forcés de réduire leur train de vie," CSA Group's "Out of Office: The Public Policy Implications of Remote Work," Latino America's "Mexico: a democracy without 'millennials'?" and The Public Policy Forum's "Symposium: How Polarization Manifests in Canada."
"The first quarter of 2023 is the result of a strategy that was developed at the end of 2021 and put into place in 2022. While we are still very early on in our transformation, we are starting to see the benefits of that work," says Greg Wong, Chief Executive Officer at RIWI.
RIWI CORP.
Condensed Consolidated Interim Statements of Loss and Comprehensive Loss
For the three months ended March 31, 2023 and 2022
(Unaudited and expressed in U.S. dollars)
|
| Three months ended | |
|
| March 31 |
|
|
| 2023 |
|
| 2022 | |
Revenues (Note 9) | $ | 1,201,240 |
| $ | 897,398 |
|
Expenses |
| |
|
| |
|
General and administrative (Note 10) |
| 579,566 |
|
| 560,305 |
|
Technology costs (Note 10) |
| 499,530 |
|
| 282,661 |
|
Sales and marketing (Note 10) |
| 268,175 |
|
| 289,027 | |
Total expenses |
| 1,347,271 |
|
| 1,131,993 | |
Loss before interest and taxes |
| (146,030 | ) |
| (234,595 | ) |
Net interest income |
| 19,495 |
|
| 1,553 | |
Loss before taxes |
| (126,536 | ) |
| (233,042 | ) |
Income tax recovery/(expense) |
| (1,408 | ) |
| 58,261 | |
Net loss and comprehensive loss | $ | (127,943 | ) | $ | (174,781 | ) |
Net loss per share |
| |
|
| |
|
Basic and diluted | $ | (0.01 | ) | $ | (0.01 | ) |
Weighted average number of common shares outstanding |
| |
|
| |
|
Basic |
| 18,004,428 |
|
| 18,004,428 | |
Diluted |
| 18,004,428 |
|
| 18,004,428 | |
RIWI CORP.
Condensed Consolidated Interim Statements of Financial Position
As at March 31, 2023 and December 31, 2022
(Unaudited and expressed in U.S. dollars)
|
| March 31, 2023 |
|
| December 31, 2022 |
|
Assets |
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
Cash and cash equivalents | $ | 2,711,255 |
| $ | 2,350,718 |
|
Accounts receivable |
| 671,972 |
|
| 835,886 |
|
Unbilled revenue (Note 9(b)) |
| 97,028 |
|
| 64,463 |
|
Prepaid expenses and other current assets |
| 120,247 |
|
| 90,578 |
|
Total current assets |
| 3,600,503 |
|
| 3,341,645 |
|
Property and equipment (Note 4) |
| 3,325 |
|
| 4,688 |
|
Right-of-use assets (Note 5) |
| 7,150 |
|
| 17,874 |
|
Intangible assets (Note 6) |
| 181,531 |
|
| 192,167 |
|
Goodwill (Note 6) |
| 291,074 |
|
| 291,074 |
|
Total assets | $ | 4,083,583 |
| $ | 3,847,448 |
|
Liabilities |
| |
|
| |
|
Current liabilities |
| |
|
| |
|
Accounts payable and accrued liabilities | $ | 277,384 |
| $ | 341,475 |
|
Current portion of lease obligations (Note 8) |
| 9,107 |
|
| 22,024 |
|
Deferred revenue (Note 9(b)) |
| 644,511 |
|
| 298,430 |
|
|
| 931,002 |
|
| 661,929 |
|
Deferred tax liability |
| 36,756 |
|
| 37,337 |
|
Total liabilities |
| 967,758 |
|
| 699,266 |
|
Shareholders' equity |
| |
|
| |
|
Share capital (Note 7) |
| 4,940,930 |
|
| 4,940,930 |
|
Contributed surplus (Note 7) |
| 2,573,517 |
|
| 2,477,931 |
|
Accumulated deficit |
| (4,398,622 | ) |
| (4,270,679 | ) |
Total shareholders' equity
|
| 3,115,825 |
|
| 3,148,182 |
|
Total liabilities and shareholders' equity | $ | 4,083,583 |
| $ | 3,847,448 | |
RIWI's unaudited interim Financial Statements and Management's Discussion and Analysis for the three months ended March 31, 2023, are available via RIWI's website at and on SEDAR at .
About RIWI
RIWI is a global trend-tracking and prediction technology firm. On a monthly or annual subscription basis, RIWI offers its clients tracking surveys, continuous risk monitoring, predictive analytics and ad effectiveness tests in all countries - without collecting any personally identifiable data.
RIWI CORP.
Signed: "Greg Wong"
Greg Wong, Chief Executive Officer
For more information, please contact investors@riwi.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTION REGARDING FORWARD-LOOKING INFORMATION:
Information and statements contained in this news release that are not historical facts are "forward-looking information" within the meaning of Canadian securities legislation that involves risks and uncertainties. Forward-looking information included herein is made as of the date of this news release and RIWI does not intend, and does not assume any obligation, to update forward-looking information unless required by applicable securities laws. Forward-looking information relates to future events or future performance and reflects management of the Company's expectations or beliefs regarding future events. This forward-looking information is based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information.
To view the source version of this press release, please visit
安大略省多伦多--(Newsfile Corp.——2023年5月24日)——全球趋势追踪和预测科技公司RIWI Corp.(RWCRF)(OTC Pink:RWCRF)公布了截至2023年3月31日的季度财务业绩。除非另有说明,否则所有数字均以美元报告。RIWI的财务报表根据国际财务报告准则(“IFRS”)编制。
RIWI 亮点(以美元计):
RIWI在2023年第一季度的收入为1,201,240美元,而截至2022年3月31日的三个月为897,398美元,增长了33.9%。该收入包括422,358美元的交易收入、312,217美元的经常性收入和466,665美元的项目收入。在截至2023年3月31日的三个月中,RIWI的净亏损为127,943美元,而截至2022年3月31日的三个月净亏损为174,781美元。与2022年第四季度相比,该公司的交易收入在2023年第一季度大约翻了一番,管理层预计,在本日历年的后续几个季度中,这一收入来源将继续增长。
通过提高与我们的平台匹配的调查受访者的转化率,完成特定的调查,以及增加我们的受访者群体,来扩大交易收入规模。为了量化扩大规模的机会,正如该公司在 2022 年第三季度的 MD&A 中指出的那样,在 2022 年 12 月,无需额外资源或计算能力的受访者人数已从大约 1,800 人增加到每天约 3,000 人。2023 年第一季度,平均每天受访者人数超过 6,000 人。
Compass Data系列产品继续增长,增加了新的付费客户,几项新的潜在客户试验正在进行中。 此外,我们的中国数据系列正在不断扩大,为RIWI开辟了多个新的销售和合作机会。
在截至2023年3月31日的三个月中,RIWI签署了15份新客户合同,包括与六个RIWI新客户签署的合同。
有13个客户迁移到新的RIWI平台,我们预计传统的RIWI平台将在2023年底之前完全停用。
RIWI在第一季度之后聘请了新的首席财务官,以确保财务运营、投资者关系、商业伙伴关系、治理和长期增长方面的卓越表现。
RIWI 在第一季度获得了多份出版物的认可,包括加拿大银行的 “加拿大消费者预期调查——2022 年第四季度”、加拿大广播公司的 “通货膨胀:加拿大人的力量 de reduire leur train de vie”、CSA 集团的 “下台:远程工作的公共政策影响”、拉丁美洲的 “墨西哥:没有 “千禧一代” 的民主国家?”以及公共政策论坛的 “研讨会:加拿大两极分化如何表现出来”。
“2023年第一季度是2021年底制定并于2022年实施的战略的结果。尽管我们的转型还处于初期阶段,但我们开始看到这项工作的好处。” RIWI首席执行官Greg Wong说。
RIWI CORP.
简明合并中期亏损表和综合亏损表
在截至2023年3月31日和2022年3月31日的三个月中
(未经审计,以美元表示)
|
| 三个月结束了 |
|
|
| 3 月 31 日 |
|
|
| 2023 |
|
| 2022 |
|
收入(注9) | $ | 1,201,240 |
| $ | 897,398 |
|
开支 |
|
|
|
|
|
|
一般和行政(注10) |
| 579,566 |
|
| 560,305 |
|
技术成本(注10) |
| 499,530 |
|
| 282,661 |
|
销售和市场营销(注10) |
| 268,175 |
|
| 289,027 |
|
支出总额 |
| 1,347,271 |
|
| 1,131,993 |
|
利息和税前亏损 |
| (146,030 | ) |
| (234,595) | ) |
净利息收入 |
| 19,495 |
|
| 1,553 |
|
税前亏损 |
| (126,536 | ) |
| (233,042) | ) |
所得税回收/(支出) |
| (1,408) | ) |
| 58,261 |
|
净亏损和综合亏损 | $ | (127,943) | ) | $ | (174,781) | ) |
每股净亏损 |
|
|
|
|
|
|
基础版和稀释版 | $ | (0.01 | ) | $ | (0.01 | ) |
已发行普通股的加权平均数 |
|
|
|
|
|
|
基本 |
| 18,004,428 |
|
| 18,004,428 |
|
稀释 |
| 18,004,428 |
|
| 18,004,428 |
|
RIWI CORP.
简明合并中期财务状况表
截至2023年3月31日和2022年12月31日
(未经审计,以美元表示)
|
| 2023年3月31日 |
|
| 2022年12月31日 |
|
资产 |
|
|
|
|
|
|
流动资产 |
|
|
|
|
|
|
现金和现金等价物 | $ | 2,711,255 |
| $ | 2,350718 |
|
应收账款 |
| 671,972 |
|
| 835886 |
|
未开具账单的收入(附注 9 (b)) |
| 97,028 |
|
| 64,463 |
|
预付费用和其他流动资产 |
| 120,247 |
|
| 90,578 |
|
流动资产总额 |
| 3,600,503 |
|
| 3,341,645 |
|
财产和设备(注4) |
| 3,325 |
|
| 4,688 |
|
使用权资产(注5) |
| 7,150 |
|
| 17,874 |
|
无形资产(注6) |
| 181,531 |
|
| 192,167 |
|
商誉(注6) |
| 291,074 |
|
| 291,074 |
|
总资产 | $ | 4,083,583 |
| $ | 3,847,448 |
|
负债 |
|
|
|
|
|
|
流动负债 |
|
|
|
|
|
|
应付账款和应计负债 | $ | 277,384 |
| $ | 341,475 |
|
租赁债务的当期部分(附注8) |
| 9107 |
|
| 22,024 |
|
递延收入(附注9 (b)) |
| 644,511 |
|
| 298,430 |
|
|
| 931,002 |
|
| 661,929 |
|
递延所得税负债 |
| 36756 |
|
| 37,337 |
|
负债总额 |
| 967,758 |
|
| 699,266 |
|
股东权益 |
|
|
|
|
|
|
股本(注7) |
| 4,940,930 |
|
| 4,940,930 |
|
缴纳的盈余(附注7) |
| 2,573,517 |
|
| 2,477,931 |
|
累计赤字 |
| (4,398,622 | ) |
| (4,270,679 | ) |
股东权益总额
|
| 3,115,825 |
|
| 3,148,182 |
|
负债和股东权益总额 | $ | 4,083,583 |
| $ | 3,847,448 |
|
RIWI截至2023年3月31日的三个月未经审计的中期财务报表和管理层的讨论与分析可通过RIWI的网站和在SEDAR上查阅。
关于 RIWI
RIWI 是一家全球趋势跟踪和预测技术公司。RIWI以月度或年度订阅为基础,在所有国家/地区为其客户提供跟踪调查、持续风险监控、预测分析和广告效果测试,无需收集任何个人身份数据。
RIWI CORP.
已签署: “Greg Wong”
Greg Wong,首席执行官
欲了解更多信息,请联系 investors@riwi.com。
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