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
安大略省多倫多--(Newsfile Corp.——2023年5月24日)——全球趨勢追蹤和預測科技公司RIWI Corp.(RWCRF)(OTC Pink:RWCRF)公佈了截至2023年3月31日的季度財務業績。除非另有說明,否則所有數字均以美元報告。RIWI的財務報表根據國際財務報告準則(“IFRS”)編制。
RIWI 亮點(以美元計):
RIWI在2023年第一季度的收入爲1,201,240美元,而截至2022年3月31日的三個月爲897,398美元,增長了33.9%。該收入包括422,358美元的交易收入、312,217美元的經常性收入和466,665美元的項目收入。在截至2023年3月31日的三個月中,RIWI的淨虧損爲127,943美元,而截至2022年3月31日的三個月淨虧損爲174,781美元。與2022年第四季度相比,該公司的交易收入在2023年第一季度大約翻了一番,管理層預計,在本日曆年的後續幾個季度中,這一收入來源將繼續增長。
通過提高與我們的平臺匹配的調查受訪者的轉化率,完成特定的調查,以及增加我們的受訪者羣體,來擴大交易收入規模。爲了量化擴大規模的機會,正如該公司在 2022 年第三季度的 MD&A 中指出的那樣,在 2022 年 12 月,無需額外資源或計算能力的受訪者人數已從大約 1,800 人增加到每天約 3,000 人。2023 年第一季度,平均每天受訪者人數超過 6,000 人。
Compass Data系列產品繼續增長,增加了新的付費客戶,幾項新的潛在客戶試驗正在進行中。 此外,我們的中國數據系列正在不斷擴大,爲RIWI開闢了多個新的銷售和合作機會。
在截至2023年3月31日的三個月中,RIWI簽署了15份新客戶合同,包括與六個RIWI新客戶簽署的合同。
有13個客戶遷移到新的RIWI平臺,我們預計傳統的RIWI平臺將在2023年底之前完全停用。
RIWI在第一季度之後聘請了新的首席財務官,以確保財務運營、投資者關係、商業夥伴關係、治理和長期增長方面的卓越表現。
RIWI 在第一季度獲得了多份出版物的認可,包括加拿大銀行的 “加拿大消費者預期調查——2022 年第四季度”、加拿大廣播公司的 “通貨膨脹:加拿大人的力量 de reduire leur train de vie”、CSA 集團的 “下臺:遠程工作的公共政策影響”、拉丁美洲的 “墨西哥:沒有 “千禧一代” 的民主國家?”以及公共政策論壇的 “研討會:加拿大兩極分化如何表現出來”。
“2023年第一季度是2021年底制定並於2022年實施的戰略的結果。儘管我們的轉型還處於初期階段,但我們開始看到這項工作的好處。” RIWI首席執行官Greg Wong說。
RIWI CORP.
簡明合併中期虧損表和綜合虧損表
在截至2023年3月31日和2022年3月31日的三個月中
(未經審計,以美元表示)
|
| 三個月結束了 |
|
|
| 3 月 31 日 |
|
|
| 2023 |
|
| 2022 |
|
收入(注9) | $ | 1,201,240 |
| $ | 897,398 |
|
開支 |
|
|
|
|
|
|
一般和行政(注10) |
| 579,566 |
|
| 560,305 |
|
技術成本(注10) |
| 499,530 |
|
| 282,661 |
|
銷售和市場營銷(注10) |
| 268,175 |
|
| 289,027 |
|
支出總額 |
| 1,347,271 |
|
| 1,131,993 |
|
利息和稅前虧損 |
| (146,030 | ) |
| (234,595) | ) |
淨利息收入 |
| 19,495 |
|
| 1,553 |
|
稅前虧損 |
| (126,536 | ) |
| (233,042) | ) |
所得稅回收/(支出) |
| (1,408) | ) |
| 58,261 |
|
淨虧損和綜合虧損 | $ | (127,943) | ) | $ | (174,781) | ) |
每股淨虧損 |
|
|
|
|
|
|
基礎版和稀釋版 | $ | (0.01 | ) | $ | (0.01 | ) |
已發行普通股的加權平均數 |
|
|
|
|
|
|
基本 |
| 18,004,428 |
|
| 18,004,428 |
|
稀釋 |
| 18,004,428 |
|
| 18,004,428 |
|
RIWI CORP.
簡明合併中期財務狀況表
截至2023年3月31日和2022年12月31日
(未經審計,以美元表示)
|
| 2023年3月31日 |
|
| 2022年12月31日 |
|
資產 |
|
|
|
|
|
|
流動資產 |
|
|
|
|
|
|
現金和現金等價物 | $ | 2,711,255 |
| $ | 2,350718 |
|
應收賬款 |
| 671,972 |
|
| 835886 |
|
未開具賬單的收入(附註 9 (b)) |
| 97,028 |
|
| 64,463 |
|
預付費用和其他流動資產 |
| 120,247 |
|
| 90,578 |
|
流動資產總額 |
| 3,600,503 |
|
| 3,341,645 |
|
財產和設備(注4) |
| 3,325 |
|
| 4,688 |
|
使用權資產(注5) |
| 7,150 |
|
| 17,874 |
|
無形資產(注6) |
| 181,531 |
|
| 192,167 |
|
商譽(注6) |
| 291,074 |
|
| 291,074 |
|
總資產 | $ | 4,083,583 |
| $ | 3,847,448 |
|
負債 |
|
|
|
|
|
|
流動負債 |
|
|
|
|
|
|
應付賬款和應計負債 | $ | 277,384 |
| $ | 341,475 |
|
租賃債務的當期部分(附註8) |
| 9107 |
|
| 22,024 |
|
遞延收入(附註9 (b)) |
| 644,511 |
|
| 298,430 |
|
|
| 931,002 |
|
| 661,929 |
|
遞延所得稅負債 |
| 36756 |
|
| 37,337 |
|
負債總額 |
| 967,758 |
|
| 699,266 |
|
股東權益 |
|
|
|
|
|
|
股本(注7) |
| 4,940,930 |
|
| 4,940,930 |
|
繳納的盈餘(附註7) |
| 2,573,517 |
|
| 2,477,931 |
|
累計赤字 |
| (4,398,622 | ) |
| (4,270,679 | ) |
股東權益總額
|
| 3,115,825 |
|
| 3,148,182 |
|
負債和股東權益總額 | $ | 4,083,583 |
| $ | 3,847,448 |
|
RIWI截至2023年3月31日的三個月未經審計的中期財務報表和管理層的討論與分析可通過RIWI的網站和在SEDAR上查閱。
關於 RIWI
RIWI 是一家全球趨勢跟蹤和預測技術公司。RIWI以月度或年度訂閱爲基礎,在所有國家/地區爲其客戶提供跟蹤調查、持續風險監控、預測分析和廣告效果測試,無需收集任何個人身份數據。
RIWI CORP.
已簽署: “Greg Wong”
Greg Wong,首席執行官
欲瞭解更多信息,請聯繫 investors@riwi.com。
多倫多證券交易所風險投資交易所及其監管服務提供商(該術語在多倫多證券交易所風險投資交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
謹慎使用前瞻性信息:
本新聞稿中包含的非歷史事實的信息和陳述是加拿大證券立法所指的 “前瞻性信息”,涉及風險和不確定性。此處包含的前瞻性信息自本新聞稿發佈之日起提供,除非適用的證券法要求,否則RIWI不打算也不承擔任何義務更新前瞻性信息。前瞻性信息與未來事件或未來業績有關,反映了管理層對公司對未來事件的預期或信念。這些前瞻性信息部分基於可能發生變化或被證明不正確的假設和因素,從而導致實際業績、業績或成就與前瞻性信息所表達或暗示的業績、業績或成就存在重大差異。
要查看本新聞稿的源版本,請訪問