TORONTO and TAMPA, Fla., Nov. 28, 2024 (GLOBE NEWSWIRE) — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company”), a North American technology company creating a more transparent and accessible real estate lending ecosystem, today announced its financial results for the three and nine months ended September 30, 2024. The Unaudited Condensed Interim Consolidated Financial Statements and the related Management’s Discussion and Analysis (“MD&A”) for the three and nine months ended September 30, 2024, are available at www.sedarplus.ca and at www.voxtur.com.
Over the past ninety days since I joined as CEO, my primary focus has been on addressing our financial foundation to ensure long-term stability and success. We are taking decisive actions to reduce the company’s debt, streamline operations, and implement the necessary changes to become cash flow positive from our core operations, said Ryan Marshall, CEO of Voxtur. While there is still work to be done, I am encouraged by the progress we’ve made in identifying opportunities to enhance efficiency and strengthen our financial position. These changes are not just about immediate results but about setting the stage for sustainable growth and creating value for our shareholders.
Financial Results:
| Continuing Operations | Unaudited | Unaudited | ||||||||||||
| Three months ended September 30 | Nine months ended September 30 | |||||||||||||
| (In thousands of Canadian dollars) | 2024 | 2023 | 2024 | 2023 | ||||||||||
| Revenue 1 | $ | 8,491 | $ | 10,137 | $ | 25,745 | $ | 30,706 | ||||||
| Gross profit 1 | 4,925 | 6,510 | 14,595 | 18,040 | ||||||||||
| Gross profit as a % of Revenue 1 | 58 | % | 64 | % | 57 | % | 59 | % | ||||||
Discussion with respect to the above-noted results can be found in the Company’s MD&A available at www.sedarplus.ca and at www.voxtur.com.
1 Calculations include only the results from continuing operations and do not include results of discontinued operations. On November 1, 2023, the Company finalized the sale of its wholly owned appraisal management company (AMC) business for $35,135 ($25,324 USD). Results of the AMC business are classified as discontinued operations. As at September 30, 2024, management was committed to a plan to sell the controlling interest in the Company’s capital markets business unit (“Blue Water”). Accordingly, the Company has presented Blue Water as a disposal group held for sale and reported Blue Water’s results as discontinued…
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