Hank Payments Announces Third Quarter Financial Results for Quarter Ending March 31, 2024
Hank Payments Announces Third Quarter Financial Results for Quarter Ending March 31, 2024
Toronto, Ontario--(Newsfile Corp. - May 31, 2024) - Hank Payments Corp. (TSXV: HANK) ("Hank" or the "Company"), an emerging North American leader in the Banking-as-a-Service (BaaS) market with a platform that modernizes budgets and payments for enterprises and consumers is pleased to provide its third quarter financial results for the period ending March 31, 2024. All figures are in CAD.
安大略省多伦多-(新闻稿公司-2024年5月31日)-Hank支付公司(TSXV:HANK)("Hank"),是一家新兴的北美银行即服务(BaaS)市场领导者,其平台现代化企业和消费者的预算和支付,并为其最近推出的教育频道产品"Hank EDU"提供运营更新。所有数字均以美元计算。"Hank"或“公司”北美新兴的银行即服务(BaaS)市场领导者,拥有一款现代化的平台,为企业和消费者提供预算和支付服务,并高兴地宣布其截至2024年3月31日的第三季度财务报告。所有数字均以加元计。
FINANCIAL HIGHLIGHTS FOR FISCAL Q3, 2024
财报亮点:2024财年第三季度
- Revenue for the quarter of $1.9 mm, an increase of 31% over the March 2023 quarter;
- Revenue for the nine-month period ending March 31, 2024, grew 20% year over year to $5.4 mm;
- Gross margins remain strong at 91%;
- Short term expansion of adjusted loss from operations to accommodate new product and business development. This is expected to materially reduce in the following quarters as the Company benefits from growth in Auto and related margin, and lower operating costs.
- 本季度收入1.9百万美元,同比增长31%;
- 截至2024年3月31日的九个月时期内,收入同比增长20%,达到5.4百万美元;
- 毛利率仍保持在91%;
- 为配合新产品和业务发展而暂时调整营业亏损,预计随着在汽车和相关利润以及降低营业费用的增长,亏损将在随后的几个季度显著降低。
Consistent with previous quarter, Hank continued to experience strong revenues for the quarter ending March 31, 2024. The recent growth in revenue is primarily due to the Company beginning to recognize revenue from its Canadian licensing agreement starting in the first quarter of fiscal 2024. The licensing agreement has an initial term of three years with opportunity to both increase the revenue over time as well as renew and lengthen the term of the agreement. This agreement is expected to deliver minimum revenues of approximately $500,000 per quarter through first quarter of fiscal 2028.
与上一季度一致,宏达银行在截至2024年3月31日的本季度实现了强劲的收入增长。最近的收入增长主要因为该公司开始在2024财年第一季度开始认可其加拿大授权协议的收入。该授权协议的初始期限为3年,并有机会随着时间推移增加收入以及续签并延长协议的期限。这项协议预计将在2028财年第一季度通过提供至少每季度约500,000美元的最低收入。
Overall operating expenses increased by 7% this quarter in comparison to the previous quarter and increased by 26% in comparison to the same quarter the previous year primarily due to the investment in sales and marketing related to the Hank EDU platform and preparation and design work for the Equity Builder Product. With additional schools joining the Hank EDU platform, increasing revenues are expected to offset the increase in costs in the coming quarters and with the recently announced Hank Equity Builder partnership, the Company expects to earn back its investment in product development as those two channels scale.
总体营业费用在本季度相对于上一季度增加了7%,相对于去年同期增加了26%,主要是由于对Hank EDU平台的销售和营销投资以及为财富生成器产品的准备和设计工作所致。随着更多的学校加入Hank EDU平台,预计未来几个季度增加的收入将抵消成本的增加,而随着最近宣布的Hank Equity Builder合作伙伴关系,公司预计将通过这两个渠道的规模化实现产品开发的回报。
The Company continues to prudently monitor expenses while supporting its revenue growth in the auto and EDU channels and now the Equity Builder Product.
公司在支持汽车和EDU渠道以及现在的Equity Builder产品的收入增长的同时,继续谨慎监控开支。
YEAR TO DATE BUSINESS HIGHLIGHTS AND UPDATES
一年至今经营业绩亮点及更新
- In early March, the Company entered into a strategic partnership with a NASDAQ listed fintech bank to offer enhanced consumer lending and savings program and payments services (link to press release: );
- Migration progress with FinWise Bank continues and expected to be completed in the third quarter which will help diversify Hank's deposit composition and over time reduce the cost of funds through relationship banking and add new revenue line items;
- Auto channel customer growth of 32% year over year as of May 1st and 26 new auto dealers have signed up with Hank so far in 2024;
- Over 238 active auto dealers in the US are now using the Hank platform to make warranty and insurance products more affordable, and to improve the build-up of vehicle equity for their customers;
- Total auto loan balance reductions, facilitated by Hank Auto on behalf of consumers are up 11.5% year over year to over $77,000,000;
- College agreements in the states of Texas, Oklahoma and South Carolina for the Hank EDU payments platform are now processing on a monthly basis;
- Hank EDU has disbursed over $900,000 USD to over 1100 college students since launching its EDU payment platform for the education market in late 2023;
- Several colleges are completing their integration phase and launching in the coming months; and
- In May, the Company signed a strategic 5 year licensing agreement for the Hank Equity Builder product with HELO. HELO has the conditional exclusive right to resell Equity Builder and the Helo customizations in the US during the term provided that they deliver a minimum annual net subscriber growth of at least 30,000 new paying users annually (link to press release: ).
- 三月初,公司与一家上市的纳斯达克金融科技银行达成战略合作,提供增强型消费者贷款和储蓄计划以及支付服务。
- FinWise Bank的迁移进展顺利,并预计将在第三季度完成,这将有助于通过关系银行网点进行关系银行和添加新的收入项目的多元化。
- 截至5月1日,汽车渠道客户增长了32%,2024年迄今已有26家新的汽车经销商加入Hank。21世纪医疗改革法案全美现有238家活跃的汽车经销商正在使用Hank平台,使保修和保险产品更加实惠,并改善车辆权益的建立。
- Hank Auto代表消费者协调汽车贷款余额减少了11.5%,达到7,700万美元的年度增长。
- 德克萨斯州、俄克拉荷马州和南卡罗来纳州的大学已开始使用Hank EDU支付平台。
- 自2023年末推出以来,Hank EDU已向1100多名大学生拨付了超过900,000美元的款项。
- 多所大学正在完成集成阶段,将在接下来的几个月内启动。
- 5月,公司与HELO签署了一项为期5年的战略性许可协议,以出售Hank Equity Builder产品。在协议期内,HELO拥有条件独占的权利,在美国重新销售Equity Builder和Helo定制产品,同时每年至少增加30,000个新付费用户。
- 五月份,公司与HELO签署了为期五年的战略性许可协议,授权HELO销售Equity Builder和Helo自定义内容。在协议期内,HELO有条件独家权利在美国转售Equity Builder和Helo自定义内容,前提是他们每年至少提供3万新付费用户的净增长(请参阅新闻稿链接)。
Michael Hilmer, CEO and Chairperson, commented, "We continued to diversify our revenue streams with innovative products that are quickly adopted in their target markets with new deals while our Auto business thrives." He added, "The Company is prioritizing positive cash flow and EBITDA from operations and is focused on growth of high margin revenue while managing a relatively low operating cost model, relative to the growth opportunities available. We are nearing the period where our margin expansion drives full coverage of operating costs and all new business, as and when launched, will become accretive to the bottom line leading to near-term positive operating income as planned."
Michael Hilmer,CEO和Chairperson,表示:“我们将继续通过创新产品拓展收入渠道,在塔吉特市场迅速获得采纳的新交易中实现多元化,而我们的汽车业务则蓬勃发展。” 他补充说:“公司将优先考虑从业务现金流和EBITDA中获取正向现金流,并专注于高利润营收的增长,同时管理相对较低的运营成本模型,相对于可利用的增长机会。我们即将进入边际扩张的阶段,将全面覆盖运营成本,所有新增业务在推出时都将成为对底线增长有益的引力,从而实现近期的积极运营收入。”
A comprehensive discussion of Hank's financial position and results of operations is provided in the financial statements and MD&A for the nine-month period ending March 31, 2024, filed on SEDAR.
关于汉克的财务状况和运营结果的全面讨论,请参阅提交至SEDAR的2024年3月31日结束的九个月的基本报表和MD&A。
About Hank Payments Corp.
关于Hank Payments Corp.
Hank Payments Corp (the Company or "Hank") is a North American leader in consumer Fintech Software-as-a-Service (SaaS) and Banking-as-a-Service (BaaS) platforms that manages consumer cash flow and budgets on an automated basis using proprietary algorithms that collect, store and disburse cash as required to discharge obligations in a timely fashion. The Hank stack provides for several vertical market applications of the technology, with features specific to channels and enterprise accounts ("Partners") that allow those partners to operate new lines of business and revenue streams, using Hank. The Partners benefit from new revenue streams and powerful insights that open up additional opportunities for Partners to grow assets using Hank. The Company operates exclusively across the USA, with certain leadership and technology functions in Toronto. Hank houses the complex technology, banking, treasury, customer service, sales and operations teams that acquire and service consumers. Hank currently charges upfront enrolment/setup fees and recurring monthly fees based on the types and quantity of payments that Hank Payments administers for the consumer (the "Users"). The Company acquires Users through various channels including (i) small to medium sized enterprises (the "SME Partners") and (ii) large enterprise businesses (the "Enterprise Partners"). The Company's BaaS model is emerging which is expected to add additional fees including software licensing and usage fees. For more information visit our website at .
Hank Payments Corp公司(以下简称公司或“Hank”)是一家北美领先的消费科技软件即服务(SaaS)和银行即服务(BaaS)平台,在使用专有的算法管理消费者现金流和预算的基础上自动化地进行现金收集、储存和支付以及及时地履行义务。汉克堆栈为该技术提供了几个垂直市场应用,具有特定于通道和企业帐户(“合作伙伴”)的功能,使合作伙伴可以使用汉克开展新的业务和收入流,从中获益。合作伙伴可以借助汉克获得新的收入流和强大的见解,从而开启了更多增长资产的机会。该公司在美国境内独家运营,多伦多拥有某些领导和技术职能。汉克拥有复杂的技术、银行、财务、客户服务、销售和运营团队,用于获取和服务消费者。汉克目前收取预先注册/设置费和基于汉克支付管理的消费者(“用户”)的类型和数量的重复性月度费用。该公司通过各种渠道获取用户,包括(i)中小型企业(“SME合作伙伴”)和(ii)大型企业(“企业合作伙伴”)。该公司的BaaS模型正在崛起,预计将增加额外的费用,包括软件许可和使用费。更多信息请访问我们的网站。
Forward-Looking Statements
前瞻性声明
This news release may contain forward-looking statements (within the meaning of applicable securities laws) which reflect the Company's current expectations regarding future events. Forward-looking statements are identified by words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may", "estimate" and other similar expressions. These statements are based on the Company's expectations, estimates, forecasts, and projections and include, without limitation, statements regarding the future success of the Company's business. Financial performance figures in Canadian Dollars unless otherwise indicated by "U" representing United States Dollars.
本新闻稿中的前瞻性声明是基于某些假设的,包括但不限于股份在TSXV上开始交易。前瞻性声明并不是未来业绩的保证,存在难以控制或预测的风险和不确定性。有多种因素可能导致实际结果与前瞻性声明中讨论的结果大不相同,因此读者不应对任何此类前瞻性声明产生过度依赖。此外,这些前瞻性声明是根据本新闻稿发布的日期制定的,并且除非根据适用法律明确规定,否则公司不承担公开更新或修订任何前瞻性声明的义务,无论是因为新信息,未来事件还是其他原因。
The forward-looking statements in this news release are based on certain assumptions, including without limitation the Shares beginning trading on the TSXV. The forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
有关Hank支付公司的更多信息,请联系:Jason Ewart,执行副总裁资本市场,电话416-580-0721。有关投资者关系,请联系ir@hankpayments.com或访问公司的网站。
FOR FURTHER INFORMATION PLEASE CONTACT:
欲了解更多信息请联系:
For more information regarding Hank Payments Corp., please contact: Jason Ewart, EVP Capital Markets, at 416-580-0721. For Investor Relations please contact ir@hankpayments.com and visit the Company's website at
有关Hank Payments Corp.的更多信息,请联系:资本市场EVP Jason Ewart,电话:416-580-0721。有关投资者关系,请联系ir@hankpayments.com,并访问公司的网站。
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.
tsxv的监管服务提供商(在其政策中定义该术语)对本公告的充分性或准确性不承担责任。