Giftify reports Q3 EPS (16c) vs. (4c) last year

Reports Q3 revenue $23.2M vs. $20.2M last year. Ketan Thakker, Chief Executive Officer of Giftify, Inc., commented, “Our third quarter and year-to-date 2024 results demonstrate the increased efficiencies we identified and executed upon with the acquisition of CardCash.com at the end of 2023. The increased gross profit and gross margins are meaningful and drive incremental dollars to our operating line, which has been improving with each quarter. Backing out the non-cash and one-time expenses, which were mostly from the CardCash.com acquisition, we operated at near breakeven and reported a Modified EBITDA loss of just $0.7 million for the third quarter.” Thakker, continued, “Our recent uplisting onto Nasdaq was a major milestone and one we believe will better enable us to seek strategic opportunities such as additional acquisitions to complement our organic growth. With our corporate rebranding to Giftify, Inc. behind us, we are now focused on driving revenue growth by increasing the number of retailers, registered users, active users and transactions on our platforms. We also believe the national listing allows us to increase our visibility and awareness among the shareholder community, which we have started by attending a few investor conferences. We look forward to the remainder of 2024 and into 2025 as we embark on our growth initiatives and look to increase our shareholder relations and outreach programs.”