Payfare Announces First Quarter 2024 Financial Results [Yahoo! Finance]
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Source: Yahoo! Finance
TORONTO May 8, 2024 /CNW/ - Payfare Inc. Payfare " or the " Company ") (TSX: PAY) (OTCQX: PYFRF), a leading international Earned Wage Access (" EWA ") company powering instant access to earnings and digital banking solutions for workforces, today announced the filing of its Financial Statements and Management's Discussion and Analysis (" MD&A ") for the quarter ending March 31, 2024 . A comprehensive discussion of Payfare's financial position and results of operations are provided in the MD&A, which is filed on SEDAR+ under Payfare's profile and can be found at www.sedarplus.ca Q1 2024 Highlights: Increased revenue to a record $51.9 million for the three months ended March 31, 2024 , representing a $9.6 million (+23%) increase compared to the same period in 2023. Ended Q1 2024 with 1,423,502 active users , up by 296,042 (+26%) compared to active users count as at the end of Q1 2023. Total gross dollar value (Total GDV) in Q1 2024 was $3.5 billion , up by $0.9 billion (+33%) o
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