Givex Corp CEO Don Gray joined Proactive's Stephen Gunnion with details of the company's strong second-quarter financial performance.
For the three months ended June 30, Givex reported revenue of $19.4 million, up 15% year-over-year, and gross profit of $1.9 million, up 16% year-over-year. Adjusted EBITDA rose 69% to $1.7 million over the same span and the net loss narrowed 75% from $3.9 million to $978,000.
Gray attributed the positive results to consistent strategies over the past few years, including attracting new clients, signing new business, and successful acquisitions. He emphasized the company's goal to increase gross profit and adjusted EBITDA, while aiming to reduce the net loss to zero and potentially achieve positive earnings.
Gray acknowledged the challenge of managing operational costs, particularly payroll expenses, and discusses efforts to maintain control and possibly lower the payroll-to-gross-profit ratio.
Regarding annual recurring revenue (ARR), Gray highlighted a 20% increase in trailing ARR, emphasizing the significance of new contracted revenue from acquisitions and new clients.
He anticipated continued growth throughout the year, especially in the stronger third and fourth quarters.
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