Giftify Q3 net sales rise on higher marketplace activity

Overview

• US digital gift card marketplace's Q3 net sales rose 19% year-over-year

• Q3 net loss narrowed compared to prior year period

• Q3 modified EBITDA loss narrowed as company moves toward breakeven

Outlook

• Company says transition to Restaurant.com membership model aims to create new recurring revenue opportunity

• Company remains focused on converting top-line growth into sustained profitability improvement

Result Drivers

• TRANSACTION MIX - Co said net sales growth was driven by changes in mix of agent versus principal transactions

• HIGHER MARKETPLACE ACTIVITY - Co attributed growth in gross billings to increased customer transaction volume

• EXPENSE REDUCTIONS - Co said improved net loss was due to lower stock-based compensation and interest expense

Company press release:

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "buy"

• Wall Street's median 12-month price target for Giftify Inc is $4.00, about 733.2% above its November 2 closing price of $0.48

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)