Streetbeat News

POSAF

POSaBIT Systems Corp

Industry

All Other Insurance Related Activities

Open

0.06

Mkt cap

9.1M

Volume

58K

High

0.06

P/E Ratio

-1.45

52-wk high

0.27

Low

0.06

Div yield

N/A

52-wk low

0.06

POSaBIT Systems Corporation reported a 69% year-over-year revenue drop for Q2 2024, but improved its net loss by 71%. The company achieved adjusted EBITDA profitability and positive free cash flow, launched new products, and saw a 28.61% increase in share price.

Portfolio Pulse from Nina Zdinjak

August 28, 2024 | 2:06 pm

High Tide, POSaBIT, and RIV Capital are set to release their earnings reports, with each company showing signs of growth and strategic expansion in the cannabis industry. High Tide is expanding its retail presence and loyalty program, POSaBIT is overcoming payment challenges and aiming for profitability, and RIV Capital is progressing with its merger with Cansortium.

Portfolio Pulse from Jelena Martinovic

August 22, 2024 | 5:23 pm

POSaBIT Systems Corporation reported a 67% year-over-year drop in Q1 revenue to $33.8 million. Despite market challenges, the company is focusing on long-term profitability through licensing contracts, increased gross profit margins, and a re-factored cost structure. Shares traded 8.34% higher after the market close.

Portfolio Pulse from Jelena Martinovic

June 14, 2024 | 1:13 pm

POSaBIT Systems Corporation, operating in the cannabis fintech sector, has applied for listing on the TSX Venture Exchange. CEO Ryan Hamlin views this as a step to increase investor exposure and improve trading liquidity. The company also plans a non-brokered private placement to raise CA$870,000 to repay convertible promissory notes. Perga Capital Partners LP has committed to purchasing a significant portion of the units offered and agreed to cancel previously issued warrants. POSaBIT's shares (OTC:POSAF) fell 4.7619% to $0.2 after the announcement.

Portfolio Pulse from Jelena Martinovic

December 22, 2023 | 5:06 pm

POSaBIT Systems Corporation, a cannabis payment solutions provider, reported increased financial performance for Q3 2023. Transactional sales rose 11% to $157.9 million, total revenue increased 32% to $13.6 million, and gross profit went up 10% to $3.2 million. However, the company faced an operating loss of $0.26 million and a net loss of $7.5 million, which included non-cash impairment and derivative liabilities. Adjusted EBITDA was $33 thousand. The company has recovered to 75% of its processed volume after a decline in PIN Debit Processing acceptance rate and is expanding its market share. POSaBIT extended its credit facility with Perga Capital and plans to list on the TSXV. Shares of POSAF surged 67.41% to $0.45.

Portfolio Pulse from Joana Scopel

December 01, 2023 | 12:42 am

POSaBIT Systems Corporation has announced the full launch of POSaBIT POS 2.0, the next generation of the company's point-of-sale system. The new system includes a simplified user interface, enhanced data analytics, and expanded integrations with popular e-commerce platforms. The company also revealed that it will not proceed with a crypto-based payments solution after a trial across roughly 25 merchants.

Portfolio Pulse from Jelena Martinovic

September 07, 2023 | 3:39 pm

The article lists the cannabis stocks that gained and lost on August 24, 2023. Notable gainers include EVIO, Red White & Bloom Brands, and CBD Unlimited. Major losers include Choom Holdings, Radient Technologies, and Target Group.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 9:30 pm

Marijuana stocks showed significant movement on August 15, 2023. Notable gainers included Red White & Bloom Brands, GrowLife, and CBD Of Denver, with shares closing up 4900.00%, 42.00%, and 16.67% respectively. On the other hand, Hemp, Stem Holdings, and RIV Capital were among the biggest losers, with shares closing down 33.33%, 20.00%, and 18.12% respectively.

Portfolio Pulse from Benzinga Insights

August 15, 2023 | 9:30 pm

The article lists the cannabis stocks that gained and lost on August 11, 2023. Notable gainers include Australis Capital (OTC:AUSAF), StateHouse Hldgs (OTC:STHZF), and Hemp (OTC:HEMP). Significant losers include Chalice Brands (OTC:CHALF), Radient Technologies (OTC:RDDTF), and Maple Leaf Green World (OTC:MGWFF).

Portfolio Pulse from Benzinga Insights

August 11, 2023 | 9:30 pm

The article lists the marijuana stocks that gained and lost on August 8, 2023. Notable gainers include Rocky Mountain High (OTC:RMHB), Earth Science Tech (OTC:ETST), and Tilray Brands (NASDAQ:TLRY). Major losers include Choom Holdings (OTC:CHOOF), CLS Holdings USA (OTC:CLSH), and Maple Leaf Green World (OTC:MGWFF).

Portfolio Pulse from Benzinga Insights

August 08, 2023 | 9:30 pm

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