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Giftify Q3 net sales rise on higher marketplace activity

By Reuters News


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

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

$22.30 mln


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


Reuters Recommended Reads

  • Nov 2 - Ibotta Q3 revenue beats analyst estimates on strong consumer demand

  • Nov 2 - Hinge Health Q3 revenue jumps 52%, beats estimates

  • Nov 2 - Roku Q3 revenue beats estimates on advertising, subscription growth


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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