Everyday People Financial Reports Operational Update, With Strong Financial Results for the Three and Six Months Ended June 30, 2024 and Reduces Long-Term Debt by $2.5 Million
Everyday People Financial Reports Operational Update, With Strong Financial Results for the Three and Six Months Ended June 30, 2024 and Reduces Long-Term Debt by $2.5 Million
Revenue increased by 63% to $30.6 million in the first half of 2024.
Net income before tax increased by 212% to $2.0 million in the first half of 2024.
Adjusted EBITDA increased by 277% to $5.5 million in the first half of 2024.
Net working capital improved by $4.1 million in the first half of 2024.
Reduced long term debt of $2.5 million in the first half of 2024.
2024年上半年,收入增长了63%,达到3,060万美元。
2024年上半年,税前净收入增长了212%,达到200万美元。
2024年上半年,调整后的息税折旧摊销前利润增长了277%,达到550万美元。
2024年上半年,净营运资金增加了410万美元。
2024年上半年减少了250万美元的长期债务。
Edmonton, Alberta--(Newsfile Corp. - August 13, 2024) - Everyday People Financial Corp. (TSXV: EPF) ("Everyday People" or the "Company"), a financial service provider, is pleased to announce its consolidated financial results for the three and six months ended June 30, 2024. All figures are in Canadian dollars unless otherwise stated.
艾伯塔省埃德蒙顿--(Newsfile Corp.,2024年8月13日)——金融服务提供商Everyday People Financial Corp.(多伦多证券交易所股票代码:EPF)(“Everyday People” 或 “公司”)欣然宣布其截至2024年6月30日的三个月和六个月的合并财务业绩。除非另有说明,所有数字均以加元计算。
"Our exceptional financial performance in the first half of 2024 highlights our commitment to driving growth through our three business pillars and enhancing shareholder value," said Gordon Reykdal, Executive Chairman of Everyday People. "We are also pleased to report a $2.5 million reduction in our long-term debt in the first half of 2024, with an additional $1.6 million decrease already achieved in Q3 2024 to date. Going forward we anticipate reducing our long-term debt by another $4.9 million by the end of 2024."
Everyday People执行董事长戈登·雷克达尔表示:“我们在2024年上半年的出色财务表现凸显了我们对通过三大业务支柱推动增长和提高股东价值的承诺。”“我们还高兴地报告,我们的长期债务在2024年上半年减少了250万美元,迄今为止,2024年第三季度又减少了160万美元。展望未来,我们预计到2024年底我们的长期债务将再减少490万美元。”
Key Financial Comparable Metrics relative to Q2 2023, respectively
分别与 2023 年第二季度相关的主要财务可比指标
Revenue: increased by 46% to $15.8 million in Q2 2024, and increased by 63% to $30.6 million for year-to-date 2024, representing record performance for both periods.
Adjusted EBITDA1: increased by 142% to $2.4 million in Q2 2024, and increased by 277% to $5.5 million for year-to-date 2024.
Net income before taxes: increased by 192% to $0.6 million in Q2 2024, and increased by 212% to $2.0 million for year-to-date 2024.
Long-Term Debt: reduced by $2.0 million in Q2 2024, and by $2.5 million for year-to-date 2024.
收入:2024年第二季度增长了46%,达到1,580万美元,2024年迄今增长了63%,达到3,060万美元,创下了这两个时期的业绩。
调整后的 EBITDA1:2024 年第二季度增长了 142%,达到 240 万美元,2024 年迄今增长了 277%,达到 550 万美元。
税前净收入:2024年第二季度增长了192%,达到60万美元,2024年迄今为止增长了212%,达到200万美元。
长期债务:2024年第二季度减少了200万美元,2024年迄今减少了250万美元。
Management Commentary and Financial Results per Business Pillar
管理层评论和每个业务支柱的财务业绩
Building on a very strong Q1, the Company is pleased to deliver another solid quarter and anticipates a strong close to 2024 with significant milestones being achieved.
在第一季度表现非常强劲的基础上,公司很高兴再实现一个稳健的季度,并预计到2024年将实现强劲的业绩,并实现重要的里程碑。
With the changes the Company's EP Homes business model, the Company is excited to now have all three business pillars contributing on a non leveraged basis.
随着公司EP Homes商业模式的变化,公司很高兴现在所有三个业务支柱都以非杠杆方式做出贡献。
The Company's Three Business Pillars
公司的三大业务支柱
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Revenue Cycle Management: continues to produce strong financial results with significant room to grow organically and through self funded acquisitions with a deep pipeline of opportunities in the industry. These are the oldest operating businesses in the Company dating back to 2006.
Revenue was $12.2 million Q2 2024 as compared to $8.5 million for the same period in 2023, and $24.4 million as compared to $14.9 million for the six months ending June 30.
Direct Costs were $3.3 million Q2 2024 as compared to $2.3 million for the same period in 2023, and $6.4 million as compared to $4.3 million for the six months ending June 30.
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EP Financial Services: has now started to contribute in a meaningful way with the introduction of new financial services and prepaid credit card revenues and fees. It is anticipated that this pillar will continue to increase in both top and bottom line in the upcoming quarters, but more significantly with the anticipated rollout and introduction of two new platforms in the fall of 2024 and early 2025.
Revenue was $1.2 million Q2 2024 as compared to $0.1 million for the same period in 2023, and $2.4 million as compared to $0.1 million for the six months ending June 30.
Direct Costs were $0.1 million Q2 2024 as compared to $0.1 million for the same period in 2023, and $0.2 million as compared to $0.2 million for the six months ending June 30.
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EP Homes: shift in business model is anticipated to produce significant improvement to the pre-tax income statement, adjusted EBITDA and the balance sheet. It is also anticipated that EP Homes will have a positive contribution to pre-tax income and adjusted EBITDA for the balance of 2024. EP Homes will primarily earn its income from fees and commissions and no debt. EP Homes will fund all of the borrowed down payments to customers off its balance sheet and incur no debt.
As part of the Company's strategic shift in the EP Homes' business plan, the Company plans to sell all its EP Homes inventory and pay off all credit facilities associated to the EP Homes inventory within the next 12 months. This is expected to impact the Company positively from a cash flow perspective and allow the Company to reduce its current liabilities, resulting in a net working capital increase.Debt reduction was $2.0 million Q2 2024 and $2.5 million for the six months ending June 30 reducing interest expense annually by $325,000.
Projected additional debt reduction in Q3 and Q4 is anticipated to be at $4.0 million, and $2.4 million respectively.
Revenue was $2.4 million Q2 2024 as compared to $2.2 million for the same period in 2023, and $3.8 million as compared to $3.8 million for the six months ending June 30.
Direct Costs were $2.3 million Q2 2024 as compared to $2.0 million for the same period in 2023, and $3.5 million as compared to $3.2 million for the six months ending June 30.
Adjusted EBITDA was a loss of $0.1 million Q2 2024 as compared to a positive contribution $0.2 for the same period in 2023, and $0.03 million as compared to $0.5 million for the six months ending June 30.
Net loss before tax was $0.4 million Q2 2024 as compared to $0.1 million for the same period in 2023, and $0.6 million as compared to $0.1 million for the six months ending June 30.
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收入周期管理:继续取得强劲的财务业绩,具有很大的有机增长空间,并通过自筹资金的收购为该行业带来了大量机会。这些是公司历史最悠久的运营业务,其历史可以追溯到2006年。
2024年第二季度的收入为1,220万美元,而2023年同期为850万美元,而截至6月30日的六个月收入为1,490万美元。
2024年第二季度的直接成本为330万美元,而2023年同期为230万美元,而截至6月30日的六个月中,直接成本为430万美元。
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EP Financial Services:随着新金融服务和预付信用卡收入和费用的推出,现已开始以有意义的方式做出贡献。预计在接下来的几个季度中,这一支柱的收入和利润将继续增加,但更重要的是,预计将在2024年秋季和2025年初推出和推出两个新平台。
2024年第二季度的收入为120万美元,而2023年同期为10万美元,而截至6月30日的六个月收入为10万美元,收入为240万美元。
2024年第二季度的直接成本为10万美元,而2023年同期为10万美元,而截至6月30日的六个月为20万美元。
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EP Homes:预计商业模式的转变将显著改善税前损益表、调整后的息税折旧摊销前利润和资产负债表。还预计EP Homes将在2024年剩余时间内为税前收入和调整后的息税折旧摊销前利润做出积极贡献。EP Homes将主要通过费用和佣金获得收入,没有债务。EP Homes将从资产负债表上为向客户借入的所有首付提供资金,并且不会产生任何债务。
作为公司对EP Homes业务计划的战略转变的一部分,该公司计划在未来12个月内出售其所有EP Homes库存,并偿还与EP Homes库存相关的所有信贷额度。从现金流的角度来看,预计这将对公司产生积极影响,并使公司能够减少其流动负债,从而净营运资金增加。2024年第二季度债务减免额为200万美元,截至6月30日的六个月为250万美元,每年的利息支出减少了32.5万美元。
预计第三季度和第四季度的额外债务减免额将分别为400万美元和240万美元。
2024年第二季度的收入为240万美元,而2023年同期为220万美元,而截至6月30日的六个月收入为380万美元。
2024年第二季度的直接成本为230万美元,而2023年同期为200万美元,而截至6月30日的六个月为350万美元,而截至6月30日的六个月为320万美元。
调整后的息税折旧摊销前利润为2024年第二季度亏损10万美元,而2023年同期为0.2美元,而截至6月30日的六个月为50万美元,调整后的息税折旧摊销前利润为30万美元。
2024年第二季度税前净亏损为40万美元,而2023年同期为10万美元,而截至6月30日的六个月为60万美元。
1Adjusted EBITDA
1调整后息折旧摊销前利润
Three months ended |
Three months ended |
Six months ended |
Six months ended |
|
June 30, 2024 |
June 30, 2023 |
June 30, 2024 |
June 30, 2023 |
|
($) |
($) |
($) |
($) |
|
Adjusted EBITDA reconciliation |
||||
Net income (loss) before tax |
587,721 |
(641,590) |
2,054,706 |
(1,834,431) |
Adjustments |
||||
Interest included in direct cost |
6,023 |
35,254 |
7,329 |
52,285 |
Depreciation and amortization |
804,350 |
627,297 |
1,603,291 |
1,214,707 |
Acquisition costs |
- |
44,832 |
72,477 |
256,982 |
Share-based compensation |
192,912 |
244,537 |
345,807 |
475,480 |
Finance costs |
790,560 |
672,740 |
1,687,488 |
1,288,868 |
Gain on debt settlement |
- |
- |
(286,686) |
- |
Total adjustments to net income (loss) before tax |
1,793,845 |
1,624,660 |
3,429,706 |
3,288,322 |
Adjusted EBITDA |
2,381,566 |
983,070 |
5,484,412 |
1,453,891 |
Less: Finance costs |
(790,560) |
(672,740) |
(1,687,488) |
(1,288,868) |
Adjusted EBTDA |
1,591,006 |
310,330 |
3,796,924 |
165,023 |
三个月结束了 |
三个月结束了 |
六个月已结束 |
六个月已结束 |
|
2024年6月30日 |
2023年6月30日 |
2024年6月30日 |
2023年6月30日 |
|
($) |
($) |
($) |
($) |
|
调整后的息税折旧摊销前利润 |
||||
税前净收益(亏损) |
587,721 |
(641,590) |
2,054,706 |
(1,834,431) |
调整 |
||||
利息包含在直接成本中 |
6,023 |
35,254 |
7,329 |
52,285 |
折旧和摊销 |
804,350 |
627,297 |
1,603,291 |
1,214,707 |
收购成本 |
- |
44,832 |
72,477 |
256,982 |
基于股份的薪酬 |
192,912 |
244,537 |
345,807 |
475,480 |
财务成本 |
790,560 |
672,740 |
1,687,488 |
1,288,868 |
债务清算收益 |
- |
- |
(286,686) |
- |
对税前净收益(亏损)的调整总额 |
1,793,845 |
1,624,660 |
3,429,706 |
3,288,322 |
调整后 EBITDA |
2,381,566 |
983,070 |
5,484,412 |
1,453,891 |
减去:财务成本 |
(790,560) |
(672,740) |
(1,687,488) |
(1,288,868) |
调整后 EBTDA |
1,591,006 |
310,330 |
3,796,924 |
165,023 |