WeCommerce Holdings Ltd. Class A (TSE:TINY) has released an update.
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Tiny Ltd. (formerly WeCommerce Holdings Ltd.) reported a robust first quarter in 2024 with a significant revenue jump to $48.9 million, a 35% increase from the previous year, underscored by a marked improvement in recurring revenue which now represents 19% of total revenue. Operating cash flow turned positive, reaching $2.9 million, contrasting with a cash outflow in the same quarter the year before. Despite these gains, the company’s net loss widened to $8.9 million, largely due to depreciation and amortization expenses following a recent merger.
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